Best No-Fee Credit Cards 2018

Credit cards with no annual fee are great for consumers that may not make a lot of purchases and people looking for supplemental cards to optimise their card rewards. Below, we feature the best fee-free cards and help you figure out which one best fits your individual circumstances. Some of the cards have no fees, while some have perpetual fee waiver with low minimum annual spend.

Credit Cards

Best No Fee Airline Miles Card: DBS Altitude Card

Consider this if you spend more than S$2,000 per month and want a simple and versatile miles rewards card

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

DBS Altitude Visa Card is one of the best air miles cards in the market. This card awards 1.2 miles for every S$1 of local expenditure and 2 miles for every S$1 of overseas expense. There's an even higher award of 3 miles for S$1 spent on online travel bookings (which can increase to up to 40 miles for bookings on certain sites). Also, if you care about getting your annual fee waived, DBS Altitude could be a great choice because you can get the fee waived every year as long as you spend a bit more than S$2,000 a month.

Highlights

  • Annual fee: S$192.6, waived when you spend at least S$25,000 a year
  • 1.2 miles for S$1 of local spend and 2 miles for overseas spend
  • Up to 10 miles per S$1 spent on online travel booking sites like Kaligo and Expedia
  • Complimentary travel insurance: S$1mn in accident & death
  • Read Our Full Review
  • Option to earn 10,000 bonus miles when paying the annual fee to renew
  • 3 miles for S$1 spent on online travel bookings
  • 14% discount on petrol at Esso
  • Promotion: 2 Complimentary Global Airport Lounge Access visits per year with Priority Pass Membership

Best No Fee Miles Card for Entertainment & Online Shopping: HSBC Revolution Card

Consider this if you spend more than S$1,000 per month and want to earn miles on shopping, entertainment and dining

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

HSBC Revolution Card provides an excellent way of racking up air miles quickly if you like to shop online, dine out and enjoy an active night life, especially if the thought of paying an annual fee is burdensome to you. It provides some of the best deals in the market with 2 miles on online spend, dining and entertainment expenses. The only weakness of the card is its low flat rate award of 0.4 miles per S$1 spent on everything else. We think this is a small trade off given that HSBC Revolution's awards come with an extremely easily waived annual fee: HSBC Revolution Card's annual fee of S$160.5 is waived for the first 2 years for everyone, and subsequently waived for those who maintain an annual expenditure of S$12,500 on the card, which is well below average spending for the average Singaporean consumer.

Highlights

  • Annual fee: S$160.5. waived for 2 years, and then waived in subsequently for annual spend of S$12,500
  • 16% off on petrol at Caltex & Shell
  • Welcome Bonus: American Tourister Caravan 70cm TSA luggage (worth S$260) or S$100 cash back for new customers (S$50 for existing customers)
  • Read Our Full Review
  • 2 miles on online spend (shopping and travel bookings), dining, and entertainment
  • Up to 10% off on travel bookings online
  • Promotion: Save up to S$10,000 with 1,000 Entertainer 1-for-1 deals

Best Mile Card for Dining: Maybank Horizon Card

Consider this if you spend more than S$1,500 per month and want to earn high rewards on dining and travel bookings

Annual Income Requirement S$50,000
Foreigner Income Requirement S$60,000

Since it was upgraded from Platinum Visa to Visa Signature, Maybank Horizon Visa Signature Card has become an awesome air miles credit card for people who want to avoid high annual fees. Its annual fee may seem high at S$180 is simply waived for people who spend S$1,500 on their cards every month (S$18,000 per year). Not only that, Maybank Horizon card will award 3.2 miles for every S$1 you spend on dining or on petrol, which is practically one of the best deals we've seen for these two categories. You can also earn 2 to 3.2 miles per dollar on your travel bookings and on the money you spend overseas. By providing great mile award rates for your travel expense as well as your daily needs, Maybank Horizon helps you build up miles while saving up on the annual fee you would otherwise have to spend with other cards.

Highlights

  • Annual fee: S$180, waived with S$18,000 of annual spend
  • 3.2 miles for every S$1 spent on petrol, dining, taxi fares and hotel bookings via agoda.com/horizon
  • Bonus: Receive a complimentary Samsonite Orfeo 69cm Spinner worth S$420 when you apply for 2 Maybank Credit Cards and CreditAble
  • 2 miles for S$1 spent on air tickets, travel packages and foreign currency transactions
  • Complimentary access to selected VIP airport lounges & travel insurance
  • Read Our Full Review

Best No-Fee Cashback Card: OCBC 365 Card

Consider this if you spend more than S$800 per month

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

OCBC 365 Credit Card is one of the best cash rebate cards we recommend for an average consumer who wants to avoid paying annual fees on their cards. For instance, OCBC 365 provides 6% rebate on dining, 22% on petrol, and 3% on groceries and monthly bill, spending categories that are all central to everyone's daily life. Its annual fee is also extremely easy to get waived, since OCBC requires only S$10,000 of annual spend to qualify for it. To summarise, OCBC 365 Card presents a cheap and convenient way of earning rebates on almost all the daily needs of an average person. If you are an average family that enjoy both dining and dining out, this card will suit your lifestyle quite well.

Highlights

  • Annual fee: S$192.6, waived for 2 years and subsequently waived for annual spend of only S$10,000
  • Up to 22.2% on petrol
  • Rebates: up to 6% on dining, 3% on online shopping, groceries and recurring monthly bills
  • Read Our Full Review

Best Cashback Card for Affluent Consumers: HSBC Advance Card

Consider this if you are an affluent consumer who can qualify for HSBC's Advance status

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

HSBC Advance Credit Card is one of the best no-fee cashback cards, with the caveat that it's only good for HSBC's Advance Banking customers. For Advance customers, this card perpetually waives its annual fee of S$192.6, and provides a cash rebate at a rate of 3.5%. Given its high cashback cap of S$125 per month, HSBC Advance card is especially effective for high income individuals. However, this card completely loses its competitiveness for non-Advance customers. Please read our detailed review to see if you can qualify for HSBC Advance program.

Highlights

  • Annual fee: S$192.6, waived for Advance Customers
  • 16% discount on petrol at Shell and Caltex
  • Promotion: Save up to S$10,000 with 1,000 Entertainer 1-for-1 deals
  • Rebate: Up to 3.5% of cash rebate for HSBC Advance Customers (1.5% for non-Advance customers)
  • Welcome Bonus: American Tourister Caravan 70cm TSA luggage (worth S$260) or S$100 cash back for new customers (S$50 for existing customers)
  • Read Our Full Review

Best Cashback Card for Low Income Consumers: Maybank Platinum Visa Card

Consider this if you spend around S$1,000 per month or less

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

Maybank Platinum Visa Card is one of the best no-fee cash rebate cards for low-income consumers. First, it's very budget friendly because it charges no annual fee without any spending requirements. Secondly, you can earn up to 3.33% in cash rebate for every dollar you spend in Singapore as long as you spend S$1,000 per month (or S$300 per month). Despite its cash rebate cap of S$100 per quarter (S$400 per year), it still represents one of the highest yielding cashback cards in the market for modest spenders with a monthly budget of around S$1,000 (or S$300).

Highlights

  • Annual fee: S$0, S$20 quarterly servicing fee waived if you use the card at least once every 3 months
  • Travel insurance coverage of up to S$500,000
  • Bonus: Receive a complimentary Samsonite Orfeo 69cm Spinner worth S$420 when you apply for 2 Maybank Credit Cards and CreditAble
  • Up to 3.33% cash rebate on all expenditures (max S$100 per quarter)
  • Promotion: Up to 3% cash rebate on foreign currency transactions
  • Read Our Full Review

Best No-Fee Unlimited Cashback Card: Maybank FC Barcelona Card

Consider this if you want to earn unlimited rebate without paying an annual fee

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000 for Malaysians; S$60,000 for Others

Among all of the "unlimited" cashback cards, Maybank's FC Barcelona Visa Signature Card stands out by providing an easy to achieve annual fee waiver. For instance, this card's annual fee (S$120) is waived for an annual spending of just S$10,000, or monthly spend of about S$833; other similar cards tend to charge a fee of around S$180. Not only that, this card provides an unlimited cash rebate at a rate of 1.6%, higher than 1.5% provided by other unlimited rebate cards. While it lags behind peers in miscellaneous benefits like petrol discount, we think this card works perfectly well for those who are looking for the convenience of a unlimited cashback without the high cost.

Highlights

  • Annual fee: S$120, waived with S$10,000 of annual spend
  • 0.8 miles per S$1 spent on foreign currency transactions
  • No monthly minimum spend & Online price guarantee
  • Promotion: Complimentary Samsonite Orfeo Luggage worth S$420 with 2 Maybank credit cards and CreditAble
  • 1.5% cashback on everything
  • No cap on cashback or monthly spend requirement
  • Bonus: Chance to win a free trip for 2 to FC Barcelona Live game every season
  • Read Our Full Review

Best for Singapore Power and Utility Bills: HSBC Visa Platinum Card

Consider this if you want to save on basic necessities like food and monthly utility bills

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

HSBC Visa Platinum Credit Card is the best cash back card to use for paying Singapore Power and utility bills, as it provides the highest cash rebate on these spending areas. Furthermore, it is one of the only cards that combine a generous cashback offer with an air miles award program, with 0.4 miles for every S$1 you spend on the card. Although 0.4 miles award rate is somewhat low, we think HSBC Platinum card is very much worth considering given that its annual fee is waived for 2 years, after which it is perpetually waived as long as you spend S$12,500 a year (about S$1,000 a month) on the card.

Highlights

  • Annual fee: S$192.6, waived for 2 years, subsequently waived for an annual spend of at least S$12,500
  • 2% cashback on dining
  • Welcome Bonus: American Tourister Caravan 70cm TSA luggage (worth S$260) or S$100 cash back for new customers (S$50 for existing customers)
  • Read Our Full Review
  • 5% cashback on grocery & utilities like Singapore Power, cable, internet and mobile bills
  • Up to 21% off on petrol at Shell and Caltex
  • Promotion: Save up to S$10,000 with 1,000 Entertainer 1-for-1 deals

Cashback in Singapore and Malaysia: Maybank Family & Friends Card

Consider this if you spend a lot of time in both Malaysia and Singapore

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

Few cards offer cash saving benefits across Singapore and Malaysia, but Maybank Fmaily & Friends MasterCard Credit Card is one that does just that. If you are constantly moving back and forth between the two countries, Maybank Family & Friends card could help you save money in both countries. This unique card offered by Maybank, the biggest bank of Malaysia, provides a versatile set of benefits and perks that encompass petrol, groceries and taxis, all earning 8% of rebate. Its annual fee is also easily waived with just S$12,000 of annual spend (S$1,000 of monthly spend). While it is possible to find a better card in Singapore and in Mayalsia separately, but if you would rather carry around one card than two, Maybank Family & Friends card could be a great choice.

Highlights

  • Annual fee: S$80, waived with S$12,000 of annual spend
  • Up to 9.3% rebate on groceries including merchant discount
  • Above rebates apply in both Singapore & Malaysia
  • Read Our Full Review
  • 8% rebate on transportation (taxis, bus and train rides), fast food delivery (i.e. foodpanda), and other retail transactions at special merchant outlets
  • Up to 20.88% savings on petrol including merchant discount
  • Promotion: Receive a complimentary Samsonite Orfeo 69cm Spinner worth S$420 when you apply for 2 Maybank Credit Cards and CreditAble

No-Fee Card for Indulging Yourself: OCBC Frank Card

Consider this if you want savings on online shopping and entertainment expenses without paying an annual fee

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

OCBC Frank Card is an awesome cashback card for anyone looking to save money while having a great time. With its 120 unique card designs ranging from chocolate bars to glass of whiskey, OCBC Frank card aims to cater to everyone’s aesthetics, especially the younger and more hip audience who want to express their individuality in everything they own. Its already super low annual fee of S$90 is waived for 2 years as long as you meet the annual spending requirements of S$10,000. This doesn't mean OCBC Frank card will skimp out on providing great benefits. With 6% rebate on online spend and up to 5% rebate on all entertainment expenses, OCBC Frank card helps you save money on many of your indulgences at some of the best rates in the market.

Highlights

  • Annual fee: S$80, waived for 2 years and subsequently waived for annual spend of over S$10,000
  • 5% rebate on all entertainment expenses on weekends, 3% on weekdays
  • Read Our Full Review
  • 6% rebate on all eligible online spend, including online shopping, travel bookings and food delivery orders (Requires S$400 of offline spend)
  • 14% off on petrol at Caltex & Esso stations

Highest Cashback on Dining: CIMB Visa Signature Card

CIMB Visa Signature

Consider this if you want a specialised dining credit card without an annual fee

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

CIMB Visa Signature Card offers the best cash back on dining we've seen in the market. Not only does it boast a 10% rebate on dining expenditures, it is also completely free to use and has no monthly minimum spend, making it the cheapest credit card to use in Singapore. It could also double up as a travel card because of its low transaction fee at 1% and its complimentary travel insurance. Although it doesn’t reward any miles and offers a low cash back rate on general purchases, why not get a CIMB Visa Signature Card and get 10% off your meals since it’s free and doesn’t take much work to manage?

The only caveat to this card is that its 10% rebate on dining is capped at S$60 a month and requires a monthly spend of S$500 and 8 monthly transactions worth S$30 each. However, this should not be a major problem for most people who go out for dinners and drinks once or twice a week.

Below we have reviewed CIMB Visa Signature Card as well as other cards from CIMB like CIMB Visa Infinite Card and CIMB Platinum MasterCard Credit Card.

Highlights

  • No annual fee
  • 1% foreign exchange transaction fee

Flat Rate Cashback up to 2% with No Fee: CIMB Visa Infinite Card

CIMB Visa Infinite Card

Consider this if you want a no fee cashback card with no spending requirements

Annual Income Requirement S$120,000
Foreigner Income Requirement S$120,000

CIMB Visa Infintie card is almost exactly like CIMB Visa Signature Card, but it offers a flat rate of 1% cashback on all local expenses, and 2% cashback on all overseas expenses. Otherwise, the two cards are pretty much the same. CIMB Visa Infinite could also double up as a travel card since it has low foreign transaction fee and provides access associated with Visa privileges. It’s a free and easy to use card that is versatile.

Highlights

  • No annual fee
  • 1% rebate on all other retail spends
  • Complimentary travel insurance
  • Spend S$2,000 in a month to enjoy 2% rebate on travel, overseas and foreign currency transactions
  • Complimentary 3 lounge visits per year
  • 1% foreign exchange transaction fee

10% cashback on Travel and Beauty: CIMB Platinum MasterCard Credit Card

CIMB Platinum Mastercard

Consider this if you want a specialised rebate credit card for health, beauty and travel

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

CIMB Platinum Mastercard Credit Card is also almost identical to CIMB Visa Signature Card. The only difference is that, instead of 10% cashback on dining, CIMB Platinum MasterCard card provides a 10% rebate on travel, health, beauty and wellness. This card also has no fee or monthly minimum spend. So which card could be more suitable for your needs depends on which category of expense is more important to you.

Highlights

  • No annual fee
  • Unlimited 0.2% cash rebate on other things
  • E-commerce purchase protection
  • Up to 10% cashback on travel booking, health, beauty & wellness
  • 1% foreign exchange transaction fee

No-Fee Credit Card for Golfers: CIMB World MasterCard Credit Card

CIMB World Mastercard

Consider this if you want a free credit card with golf benefits

Annual Income Requirement S$120,000
Foreigner Income Requirement S$120,000

CIMB World MasterCard Credit Card is a great no-fee credit card for avid golfers. CIMB World MasterCard offers 1% cashback on all local and overseas spend. On top of this, they also provide complimentary green fees at 40 golf courses around SE Asia. Best of all, you can enjoy all of these benefits without paying a dollar of annual fee.

Highlights

  • No annual fee
  • Complimentary travel insurance
  • 1% foreign exchange transaction fee
  • Unlimited 1% rebate in Singapore and overseas
  • Complimentary green fees at 40 golf clubs in SE Asia

Who Should Use A No-Fee Credit Card?

Typically, credit cards that charge an annual fee offer better benefits and rewards than cards that charge no annual fees. Therefore, while not having to pay for a credit card may be great, no-fee credit cards may not always be your best option. To help you decide which would be better choice for you, we have prepared some things you should consider when deciding between a fee-card or a fee-free card.

Excellent Option For Supplemental Cards

There is nothing wrong with having multiple credit cards. A number of studies have indicated that most people carry around 6 credit cards with them. In fact, savvy consumers are often able to maximize rewards by using most appropritae card depending on the occasion. One note of caution for people who do this, however, is that annual fees and minimum spend requirements can add up to a quite significant figure. From this point of view, fee free cards are great because they don't have much downside and can be used only for the extra benefits or rewards they provide.

Best Practices For Supplemental No Fee Cards

While additional fee free cards won't cost you anything, they do still require regular maintenance.

  • Track of your spending on your all of your cards. With your primary card its very easy to remember to pay the bills since it's a regular process. With supplemental cards, however, people can easily forget to pay off the balance at the end of each month. This could cause surprising damage to your personal finance because credit cards often charge interest rates of 25% or higher.
  • Keep the credit card company up to date with your information. Keeping your contact information with the card company up to date can help to keep track of all of your credit cards. Credit card issuers will regularly send you mails and notifications to remind you to pay off your bill or notify your when interests start to build up. It can also help reduce headaches like your credit cards bills or replacement cards getting sent to the wrong people.
  • You Can Always Cancel. If you have a fee free card that you never use, you might consider canceling it. Sure the cards don't cost you anything but sometimes its easier to keep your financial house in order if there are less accounts to monitor and manage.

What to Consider When Using A No-Fee Card As A Primary Card

When using a fee free card as a primary spending card, a general rule of thumb is that you should who spend less than $500 a month on the primary credit card. Otherwise, options opened by annual fees are quite great and diverse. In combination with long term rewards rates, large signing bonuses from annual fee cards can often easily compensate for any of the annual fees for 2-3 years.

Summary of the Best No-Fee Credit Cards

Below, we summarise the main features of the best no-fee credit cards that we've handpicked.

Easy Fee WaiversBest for...Annual FeeMinimum Spend for Fee Waiver
HSBC Visa Platinum Credit CardSP & Utility BillsS$180.0S$12,500
HSBC Revolution Credit CardDining, Entertainment & Online SpendingS$160.5S$12,500
DBS Altitude Visa Signature CardAverage ConsumerS$192.6S$25,000
Maybank Horizon Visa Signature CardDining & Travel BookingsS$180.0S$18,000
Maybank Platinum Visa CardLow SpendersS$0.0S$0.0
CIMB Visa SignatureDiningS$0.0S$0.0

Compare the Best Rewards Credit Cards by Dollar Value

Below, we prepared a visual illustration of dollar value of the best no fee credit cards in Singapore. Generally, dollar values* range from S$500 to S$2,000 over 2 years for someone who spends S$2,000 on the card every month. Remember, this is an approximate value based on an estimate of the average consumer's spending habits, and may differ in actual result depending on your unique set of expenditures.

A graph displaying how best no annual fee credit cards compare to one another in terms of their rewards
Best No Annual Fee Credit Cards in Singapore by Estimated 2-Year Dollar Value

*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.

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