There are a few variables to consider when looking for Singapore’s best no annual fee credit card. Credit card interest rates are already very high, so let’s try to save on the other costs.
The first thing to think about is what type of rewards you want from your card. Do you want cashback, miles, or points?
Secondly, consider what your spending habits are like. Are you likely to spend more than $2,000 on your credit card each month? If so, you should probably opt for a card that offers higher rewards rates.
Finally, consider other necessary features, such as travel insurance or airport lounge access.
You’re on the right page for all those analyses, though. We know how tiring it can be to have credit card annual fees. This blog post will discuss Singapore’s best no-annual fee credit cards and how they can benefit you!
Let’s save that extra cost! Keep reading below!
1. DBS Altitude Visa: Best Overall Miles Card with Enticing Perks
The DBS Altitude Visa card offers 5 miles for every $1 spent on online flight and hotel transactions plus overseas spending. Miles earned through this card will never expire, making it an excellent choice for frequent flyers.
The annual fee is slightly over the top at $192.60, but luckily you get a waiver for the first year.
If you frequently fly, though, you can decide to fork out the money for that annual fee to obtain 10,000 bonus miles.
If you’re a heavy spender and charge at least $25,000/year on that DBS Altitude Visa, you get the annual fee waived and those 10,000 bonus miles.
2. Maybank Horizon Visa Signature: Best Miles Card for Local Spenders
The market-leading 3.2 miles/$1 local dining & transport promotion is available for everyone. If you’re a foreigner, apply for a new Maybank Credit Card and charge a minimum of $350 for each of the first two consecutive months upon approval to receive a $100 Cash Credit.
The annual fee will be $180 after the first three years of owning a Horizon Visa, but there’s (two) good news:
- You have no cost for the first three years and:
- You can get that fee waived after this period if you charge a least $18,000 on your card
Other rewards include:
- 3.2 miles for each dollar spent on dining, petrol, and transport
- 2 miles for each dollar spent on air travel
Bonus: You get airport lounge access and complimentary travel insurance.
3. UOB PRVI Miles American Express Card: Best for Rapid Miles
UOB PRVI Miles American Express Card offers up to 20,000 bonus miles and a fee waiver with an annual spend of $50,000. This card also offers 6 miles for every $1 spent on online flight and hotel transactions and overseas spending.
UOB PRVI Miles American Express Card offers 1.4 miles for every $1 spent on local dining and transport, 2.4 miles for every $1 spent overseas, plus complimentary airport transfers and free travel insurance.
4. OCBC 365 Card: Best No Fee Cashback Card
The OCBC 365 card has an annual fee of $192.60, but this is waived if you spend a minimum of $10,000 per year. This card offers 6% cashback on local dining, 3% cashback on groceries and utilities, plus 5% cashback on petrol.
OCBC 365 also boasts 0.3% cashback on all of your other expenses and Visa Concierge Services.
5. OCBC Frank Card: Best for Young Online Shoppers
OCBC Frank Card offers a 6% rebate on all transactions, including online and mobile purchases, after a $600 monthly spend.
The annual fee is $80. This charge is waived for two years, plus you get annual fee waivers with a minimum of $10,000 spent per year.
Frank boasts some enticing rebates as well:
- 6% rebate on online and app spend, mobile contactless payments, and foreign currency spend
- 0.3% cashback on all other spends
On the downside, the monthly cashback is capped at $75.
6. Maybank Platinum Visa: Best for Small Budgets
The Maybank Platinum Visa card offers a 3.33% cash rebate on all transactions worth at least $300. If you’re a foreigner, you should charge at least $350 on your Maybank Platinum Visa card for the first two consecutive months. That way, you can obtain $100 cash.
Maybank Platinum Visa boasts several other advantages, including an annual fee waiver for the first three years, up to 3.33% on all your expenses, and quarterly rebates.
Frequent flyers can rejoice!
Maybank comes with attractive – and free – travel insurance.
7. CIMB Visa Infinite Card: Unlimited Cashback for Travellers
If you don’ like to be limited by a budget, opt for CIMB Visa Infinite Card.
Firstly, CIMB Visa Infinite lures you with unlimited 2% cashback on travel plus any expenses you do in foreign currencies (online or abroad). If you’re a new CIMB customer, you can choose between:
- Sony WF-1000XM3 Wireless Noise Cancelling Headphone (worth $219), or:
- $150 in cash with PayNow. The catch with this alternative is that you have to spend at least $500 for two consecutive months after getting your card.
On the downside, this offer expires on March 20th, 2022.
Luckily, CIMB Visa Infinite sweetens this loss with other perks:
- Unlimited 1% cashback on all other spends
- Free travel insurance
- Three complimentary access to airport lounges
- Visa Infinite Concierge
- CIMB 0% Interest i.Pay Instalment Plan
8. CIMB World Mastercard: Cashback for Outgoing, Wealthy Singaporeans
CIMB has prepared another card for those who enjoy going out as much as possible. The World MasterCard comes with 2% cashback on:
- Wine and dine
- Food delivery
- Taxi and automobile
- Luxury goods
There’s a catch:
You have to spend at least $1,000 each month to grab the promotion.
The MasterCard boasts the same promotion as CIMB Visa Infinite, where you can choose between those excellent headphones and $150 FREE cash until March 20th, 2022.
Other rewards include:
- Free annual fee forever
- 1% cashback on all the other expenses – apart from the ones mentioned above
- 50% off green fees at certain fairways in Asia
- Free access to MasterCard Airport Experiences
- CIMB 0% Interest i.Pay Instalment Plan
These 0% credit cards cater to different needs. But even if they’re 0% – you still have plenty of conditions to follow.
That’s dangerous when you need fast cash. You can sink into debt without feeling it.
As swiping your credit card is easy, many young adults often overspend and accumulate credit card debt. Here are 3 simple tips for you to avoid credit card debt.
Also, the biggest difference between personal loans and credit cards is that the interest rate and monthly repayment will be fixed.
This makes it easier to repay as well.
Get in touch with us to find out more about personal loans.