Best Credit Cards for Hospital Bills 2018

It can be difficult to earn rebate or miles on a medical bill because banks often exclude it from their eligible spending categories. Therefore, we probed through credit cards' terms & conditions documents to find the best credit cards for hospital bill payment.

Table of Contents

Cashback Credit Card for Small Medical Bills: POSB Everyday Card

Consider this if you want to save on a family's essential needs like groceries, cosmetics, pharmaceutical, medical and petrol bills

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

POSB Everyday Card is one of the best cash back credit cards for families. Because this card provides 5% rebate on groceries, 3% on medical, cosmetics and pharmaceutical needs and 1% on monthly recurring bills, it can help families save money, especially on their health related expenses. However, its health & medical rebate is capped at S$50 per month, so may not work particularly well for large medical bills. Its annual fee is S$192.6 and POSB waivers the first year's fee.

Highlights

  • Annual fee: S$192.6, waived for 1 year
  • Rebates: 5% on groceries, 3% on health, medical, pharmaceutical and beauty, 1% rebate on monthly telco, SP services, cable and broadband bill
  • Up to 20.1% discount on petrol at SPC
  • Promotions: 20% cash rebates on online food delivery and 10% cash rebates on dining (half for existing customers)
  • 1 chance to win 2 SIA suites class tickets for every S$500 spend (5x for travel bookings)
  • Read Our Full Review

Best Cashback Card for Large Medical Bills: Standard Chartered Unlimited Cashback Card

Consider this if you have large hospital bills and/or if you can spend more than S$5,000 per month

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000

Standard Chartered Unlimited Cashback Card is an excellent choice for people who want to earn rebate on very large medical bills. Because this card's 1.5% rebate is unlimited, it's quite ideal for earning rewards on all kinds of hospital, pharmaceutical and dental procedures that could cost a significant sum. Not only that, this card provides a 0% interest instalment plan that also provides the same level of rewards, furthering its utility in taking care of large payments. Since this card requires no minimum spend and doubles up as an EZ-Link Card, it can also be a very easy way of simplifying your wallet.

Highlights

  • Annual fee: S$192.6, 2 Year Waiver
  • 1.5% unlimited cash back on all your expenditure
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • Foreign exchange transaction fee: 3.5%
  • No minimum spend requirement
  • Up to 24% discount on petrol at Caltex
  • 20% cashback and more on Grab rides globally
  • EZ-Link compatible
  • Promotion: Up to S$100 in cashback for new customers (S$20 for existing customers)
  • Read Our Full Review

Best Unlimited Cashback with Amex Perks: American Express True Cashback Card

Consider this if you spend more than S$5,000 per month and want American Express's services

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000

American Express True Cashback Card is a great unlimited cashback card that is also great for large hospital bills. While it provides 1.5% rebate without any cap, it also boosts the cash back rate to 3% for the first 6 months (up to S$5,000 of spend). Not only that, this could be a particularly valuable card for you if you want to enjoy Amex's world-renown services like American Express Selects, Global Dining Program, 24-hr customer care and Global Assistance. It also charges the lowest foreign transaction fee among unlimited cashback cards at 2.5% vs others at 2.8% to 3.5%. Lastly, Amex True Cashback Card has no cap on cashback or monthly spend requirement, making it extremely easy to use.

Highlights

  • Annual fee: S$171.2, waived for the 1st year
  • 1.5% cashback locally
  • Foreign exchange transaction fee: 2.5%
  • No cap on cashback or monthly spend requirement
  • Promotion: 3% cashback rewards rate boost for the first 6 months for up to S$5,000 of spend
  • Read Our Full Review

Best No-Fee 0% Instalment Credit Card: OCBC Cashflo Card

Consider this if you want a good 0% interest instalment payment plan for large hospital bills

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

If you are looking for a no-fee credit card with 0% instalment plan to reduce the burden of your hospital expenses, OCBC Cashflo Credit Card is a great card to consider applying for. First, this is the only card in Singapore with a good 0% instalment payment plan that provides an annual fee waiver: its fee of S$160.5 is waived for the first 2 years, and then waived in subsequent years for people who spend at least S$10,000 on the card annually. This card also rewards up to 1% of rebate on all of your purchases, including those made with the instalment plan. This can be a great feature for those who are facing medical bills that are too large for them to pay in full immediately.

Highlights

  • Annual fee: S$160.5, waived for 2 years & subsequently if you spend at least S$10,000 annually
  • 1% cash rebate with monthly bill of at least S$1,000
  • 0.5% cash rebate with monthly bill below S$1,000
  • No fee 0% instalment payment plan: earn rewards, pay over 3 months when you spend below S$1,000, over 6 months when you spend above S$1,000
  • Min annual income: S$30,000 (S$45,000 for foreigners)
  • Promotion: S$50 cashback when you apply for 2 OCBC credit cards online
  • Read Our Full Review

Online Hospital Bill Payments: Standard Chartered SingPost Spree Credit Card

Consider this if you want to pay your medical bill online

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000

Standard Chartered SingPost Spree Credit Card is a great option to consider if you want to pay your medical bills online. For local online payments, this card provides a rebate of 2%, which also applies even if you choose to divide your hospital bill into multiple instalments at 0% interest. Not only that, this card works well for people who spend relatively little on online shopping because it is one of a few cards with no minimum spending requirement. Also, this card can work well for people who like to shop with online retailers overseas, since it provides up to 3% of cashback on foreign currency online transactions & vPost purchases.

Highlights

  • Annual fee: S$192.6, waived for 2 years
  • Rebates: 3% foreign currency online purchases & vPost transactions, 2% on local online transactions, 1% on other retail transactions
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • No monthly minimum spend & Online price guarantee
  • 20% cashback and more on Grab rides globally
  • Promotion: Up to S$100 in cashback for new customers (S$20 for existing customers)
  • Read Our Full Review

Best Cashback Card for Affluent Consumers: HSBC Advance Credit Card

Consider this if you either make S$3,500 per month, have S$30,000 of cash savings or have a home loan with HSBC

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000

HSBC Advance Credit Card is the best no-fee cashback card for people who can qualify for HSBC's Advance status. For Advance customers, this card perpetually waives its annual fee of S$192.6, and provides a flat rate cashback of up to 3.5%. This card is especially effective for high spenders because its cap on monthly rebate is very high at S$125, compared to S$50-70 for most other cards. However, this card loses its effectiveness for non-Advance customers, so we highly recommend that you read our detailed review to see if you can qualify for HSBC Advance program.

Highlights

  • Annual fee: S$192.6, waived for Advance Customers
  • Rebate: Up to 3.5% of cash rebate for HSBC Advance Customers (1.5% for non-Advance customers)
  • 16% discount on petrol at Shell and Caltex
  • Welcome Bonus: A Samsonite Astra 55cm luggage (worth S$350) or S$100 cash back for new customers (S$50 for existing customers)
  • Promotion: Save up to S$10,000 with 1,000 Entertainer 1-for-1 deals
  • Read Our Full Review

Highest Rebate on Health & Beauty: CIMB Platinum MasterCard Credit Card

CIMB Platinum Mastercard

Consider this if you want the highest rebate rate for health, beauty and medical bills

Annual Income Requirement S$30,000
Foreigner Income Requirement S$48,000

CIMB Platinum Mastercard Credit Card is a no-fee credit card from CIMB that provides up to 10% rebate on health, beauty and wellness, which is the highest we've seen for this category of spending. For those who like to shop for beauty and wellness products, this card is great to use as a complement to earn rebates on these products while using other rewards credit cards for more general purposes. This is because CIMB imposes no annual fee or monthly spending requirement for the card, so you can simply use the card to maximise rebates on certain things only when you need to. However, the 10% cash rebate is capped at S$60 per month and requires a minimum monthly spend of S$500 and 8 transactions of S$30 or more. Still, this might not be that difficult of a requirement to satisfy since some hospitals are known to split up your payments.

Highlights

  • No annual fee
  • Up to 10% cashback on travel booking, health, beauty & wellness
  • Unlimited 0.2% cash rebate on other things

Best Airline Miles Credit Card: Citibank PremierMiles Visa Card

Consider this if you are an average consumer who wants a balance of generous mile awards and other travel perks

Annual Income Requirement S$30,000
Foreigner Income Requirement S$42,000

Citi PremierMiles Visa Card is one of our favorite travel cards for average consumers. It offers a simple to understand 1.2 miles for S$1 spent locally (2 miles per S$1 spent overseas), so that you can earn miles on every expenditure you make including medical and hospital bills. Miles cards are particularly good for large medical bills because they don't cap their rewards in any given month. Not only that, Citi PMV Card provides even more features like welcome cashback bonus, complimentary lounge access and travel insurance, and access to Citi Privileges globally. When you pay the annual fee of S$192.6, you can also receive 10,000 miles every year as you renew your card. Citi Miles can be redeemed at over 60 airlines and 8,000 hotel properties, so you can use the miles for almost any trip.

Highlights

  • Annual fee: S$192.6, waived 1st year
  • 1.2 miles for S$1 spent locally, 2 miles for S$1 spent overseas
  • Up to 10 miles per S$1 spent on online travel booking sites like Kaligo and Agoda
  • Complimentary travel insurance
  • Priority Pass Membership for free lounge access
  • Access to Citi Privileges globally
  • 14% off petrol spend at Shell & Esso
  • Promotion: Spend S$7.5k in 3 months and pay annual fee to receive 21,000 miles
  • Bonus: 10,000 miles when you pay the annual fee and renew
  • Read Our Full Review

Best Miles Credit Card for Affluent Consumers: Standard Chartered Visa Infinite Card

Consider this if you make at least S$150,000 per year and want to earn miles on medical bills

Annual Income Requirement S$150,000
Foreigner Income Requirement S$150,000

Standard Chartered Visa Infinite Card is a great way to earn miles while also enjoying luxurious travel perks. First, this card's mile rewards are the highest in the market at 1.4 miles per S$1 spent locally (3 miles for S$1 overseas). Secondly, SC Visa Infinite Card is the only credit card that provides miles on 0% interest instalment payments, a valuable feature for dividing excessively large bills into more manageable pieces. It also comes with a lot of luxurious benefits particularly useful for hotel bookings and honeymoon, such as a complimentary Hilton HHonor Gold status, VIP lounge access and discounts on Grab rides and golf clubs. Although its annual fee is rather high at S$588.6, the rewards you can earn on a large expense like wedding plus the extra 35,000 welcome bonus miles when you get the card are more then plentiful enough to compensate.

Highlights

  • Annual fee: S$588.6 and no waiver
  • 1.4 miles and 3 miles for every S$1 spent locally and overseas, respectively
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • Hilton HHonor Gold status, complimentary VIP lounge access & travel insurance, discounts for golf clubs, yachts and private jets
  • 20% cashback and more on Grab rides globally
  • Promotion: Welcome bonus of 35,000 miles (or 15,000 miles and a Samsonite 28" luggage)
  • Read Our Full Review

Miles on Mobile Payment for Medical Bills: OCBC Titanium Rewards Card

Consider this if you can pay your hospital bills via mobile payments like Apple Pay, Android Pay or Samsung Pay

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

OCBC Titanium Rewards Card could be a good option to consider if your hospitals accept mobile payments. This card provides 4 miles per S$1 spent on mobile payments and on shopping (up to 48,000 miles per year), which could be a very easy way to earn miles on your medical bills. Its annual fee of S$192.6 is also waived for 2 years, and subsequently waived as long as you spend at least S$10,000 on the card annually.

Highlights

  • Annual fee: S$192.6, 2-year annual fee waiver, with subsequent years waived with annual spend of S$10,000
  • 4 mile for every S$1 on shopping (offline, online and overseas) and mobile payments (Apple Pay, Android Pay, Samsung Pay)
  • Min annual income: S$30,000 (S$45,000 for foreigners)

Compare the Best Medical Credit Cards

In case you want a quick look at our picks, here are ValuePenguin's best credit cards for medical expenses.

Medical Credit CardsMedical RebateAnnual Fee
POSB Everyday3%S$192.6Learn More
SC Unlimited Cashback1.5%, 0% instalmentS$192.6Learn More
Amex True Cashback1.5%S$171.1Learn More
OCBC Cashflo1.0%, 0% instalmentS$160.5 (waiver)Learn More
SC SingPost Spree2% online, 0% instalmentS$192.6Learn More
Citi PMV1.2 milesS$192.6Learn More
SC Visa Infinite1.4 miles, 0% instalmentS$588.6Learn More
OCBC Titanium4 miles mobile paymentS$192.6 (waiver)Learn More
Medical Credit CardsMedical RebateAnnual Fee
POSB EverydayLearn More3%S$192.6
SC Unlimited CashbackLearn More1.5%, 0% instalmentS$192.6
Amex True CashbackLearn More1.5%S$171.1
OCBC CashfloLearn More1.0%, 0% instalmentS$160.5 (waiver)
SC SingPost SpreeLearn More2% online, 0% instalmentS$192.6
Citi PMVLearn More1.2 milesS$192.6
SC Visa InfiniteLearn More1.4 miles, 0% instalmentS$588.6
OCBC TitaniumLearn More4 miles mobile paymentS$192.6 (waiver)

Compare the Best Credit Cards for Hospital Expenses by Dollar Value

To help you find the best credit card to pay for your hospital bills, we have prepared a chart below organizing credit cards by 2-year dollar value*. We have estimated an average Singaporean's monthly expenditure patterns through research to model out likely savings from credit cards. You should note that the dollar value can heavily depending on your spending habits, so make sure to read through each card's review and see if it fits your monthly budget. There are also other "intangible" benefits like complimentary travel insurance and free access to airport lounges whose values are difficult to quantify but nevertheless incredibly valuable to some consumers.

A graph displaying how best credit cards for medical expenditures compare to one another in terms of their rewards

*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Duckju Kang

Duckju is the Senior Vice President of ValuePenguin Singapore. He covers the financial services industry, consumer finance products, budgeting, and investing. He previously worked in the financial services industry, including at such hedge funds as Tiger Asia and Cadian Capital.

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