Best SME Credit Cards for Small Businesses 2018

Business owners have a lot of difficult decisions to make, including which credit card to get. To simplify this decision and help you focus on growing your business, we've evaluated the best SME credit cards for small business owners.

Table of Contents

Best Small Business Card for 0% Interest Instalment Plan: Standard Chartered Business Platinum Card

If you are looking for a great 0% interest financing option, Standard Chartered Business Platinum Card is a must consideration. While most other cards provide 50-60 days of 0% interest period for purchases on the card, this card provides a 36 months 0% interest instalment plan. Not only that, it still provides 0.3% rebates for all charges you incur on the card, including those made via 0% instalment plan.

Highlights

  • Annual fee: S$160.5, waived for 3 years
  • 0.3% rebate for local purchases
  • Free 0% interest instalment plan up to 36 months, earn rebate on 0% instalment plan payments

Best SME Credit Cards for Cash Back: DBS Visa Platinum Business Card

Consider this if you want maximum rebate on your expenses

Annual Fee S$192.6
Annual Fee Waiver 1 year
Eligibility Requirement S$30,000 and above per annum income

For small to medium business owners, DBS Visa Platinum Business Card is one of the best cashback credit cards to get. While most other SME credit cards provide 0.3% of rebate, this card's rebate is actually 33% higher at 0.4%. Not only that, DBS is currently boosting this reward to 5% for the 1st month (10% for mobile payments). Furthermore, DBS Visa Platinum Business Card comes with other useful functions like discounts on telegraphic transfer or demand draft charges when making payments to overseas suppliers. It may also be one of the easiest business credit cards to get since it only requires you to earn S$30,000 of salary per year (other cards tend to require much higher amount or at least 2 years of operational history).

Highlights

  • Annual fee: S$192.6, waived for 1 year
  • 1 DBS point for every S$5 spent, equivalent to 0.4% rebate, miles or vouchers
  • Save on Telegraphic Transfer or Demand Draft charges by using your card to make payments to overseas suppliers
  • Complimentary travel accident insurance upto S$1mn
  • Complimentary annual coverage of employee misuse up to US$25,000 per cardholder and US$1.65mn per company (requires at least 2 cards)
  • Promotion: 5% rebate in 1st month (min S$1,500 spend in 1st month, capped at S$75) until 31 Dec 2018, 10% rebate for mobile payments until 31 Dec 2018

Best SME Credit Cards for Cash Back & Fee Waiver: Maybank Business Platinum Mastercard

Consider this if you want high rebates and annual fee waiver

Annual Fee S$180.0
Annual Fee Waiver 2 years
Eligibility Requirement Company must be in operation for at least 2 years, with an annual sales turnover of at least S$200,000

For SMEs that are looking for a good balance between high rebate and low annual fee, Maybank Business Platinum Mastercard could be a good option. For example, this card's reward of 1 TREATS points per S$1 spent is effectively equivalent to 0.4% rebate, which is the highest for small business credit cards. Meanwhile, Maybank also waives this card's annual fee for 2 whole years, which is more rare for corporate cards than it is for personal credit cards. It also comes with a 51 day interest-free period for purchase on credit, which can be quite useful for businesses in expanding their short-term working capital.

Highlights

  • Annual fee: S$180.0, waived for 2 years
  • 1 TREATS point for every S$1 spent, equivalent to 0.4% rebate, miles or vouchers
  • Up to ­51 days of interest-free credit on purchases
  • Complimentary travel accident insurance upto S$1mn
  • Complimentary print of corporate logo on the card

Best Small Business Credit Card for Travel: DBS World Business Card

Consider this if you travel frequently for work and tend to spend on entertainment and dining for your firm

Annual Fee S$406.6
Annual Fee Waiver 1 year
Eligibility Requirement S$80,000 and above per annum income

DBS World Business Card is by far the best credit card for small businesses that require frequent business trips. First, it offers special 1-2% rebates (the highest we've seen for SME credit cards) for travel, entertainment, dining and foreign currency transactions, which are all very important for frequent business travellers who may even need to entertain their clients. Not only that, it still matches other cards' 0.3% rebate on all other purchases. Best of all, this is the only corporate credit card we've seen that provides 10 priority pass visits per year for each cardholder.

Highlights

  • Annual fee: S$406.6., waived for 1 year
  • 1% rebate on entertainment, travel & dining
  • 2% rebate on foreign currency transactions
  • 0.3% rebate on everything else
  • 10 Priority Pass visits per year
  • Complimentary travel accident insurance upto S$1mn
  • Complimentary annual coverage of employee misuse up to US$25,000 per cardholder and US$1.65mn per company (requires at least 2 cards)
  • Promotion: 5% rebate in 1st month (min S$1,500 spend in 1st month, capped at S$75) until 31 Dec 2018, 10% rebate for mobile payments until 31 Dec 2018

Best SME Credit Card for Purchasing Supplies: Citi Corporate Card

Consider this if you want a cloud-based B2B procurement platform to easily negotiate with & manage various suppliers

Annual Fee S$150.0
Annual Fee Waiver N/A
Eligibility Requirement Minimum net worth of company starts at S$50,000 depending on years of operation.

For those who need to deal with a variety of suppliers, Citi Corporate Card could be an excellent way to simplify your workflow. First, this card provides access to Renepay, a one-stop B2B procurement platform where you can negotiate with a wide range of suppliers online. Therefore, this service can help you not only find better deals from more suppliers, it can also consolidate all of your supplier relationships into one platform to make it easier to manage. On top of this, Citi also provides a 0.3% rebate on all your purchases so you can get extra savings as well.

Highlights

  • Annual fee: S$150.0
  • 0.3% rebate on local purchases
  • Access to Renepay, a B2B procurement platform with a wide range of suppliers
  • Complimentary travel accident insurance upto S$1mn
  • Complimentary annual coverage of employee misuse up to US$25,000 per cardholder and US$1.65mn per company (requires at least 2 cards)

Best SME Credit Cards for Purchasing Supplies: UOB Platinum Business Card

Consider this if you want special discounts with reputed suppliers

Annual Fee S$180.0
Annual Fee Waiver N/A
Eligibility Requirement 2 years of operation

UOB Platinum Business Card is an excellent card for small businesses that are looking for discounts on their supplies. UOB provides an exclusive access to discounts and privileges from reputed suppliers of utilities, events & catering, travel & logistics and even office supplies. On top of this, UOB Platinum Business Card also adds a 0.3% rebate on all local purchases to help your maximise savings.

Highlights

  • Annual fee: S$180.0
  • 0.3% rebate on local purchases
  • Access to exclusive discounts and privileges from reputed suppliers (utility, desk, etc.)
  • Complimentary travel accident insurance upto S$1mn

Summary of Best Credit Cards for Small Businesses

In case you want a quick look at our picks, here are ValuePenguin's best credit cards for small businesses in Singapore.

SME CardsBest forAnnual Fee
DBS Visa Platinum BusinessHighest cash backS$192.6 (waived 1 year)Learn More
Maybank Business PlatinumHigh cash back and fee waiverS$180.0 (waived 3 years)Learn More
DBS World BusinessTravel related benefitsS$406.6Learn More
Stan. Chart. Business Platinum0% interest instalment planS$160.5Learn More
Citi Corporate CardPurchasing suppliesS$150.0Learn More
UOB Platinum BusinessPurchasing suppliesS$180.0Learn More
SME CardsBest forAnnual Fee
DBS Visa Platinum BusinessLearn MoreHighest cash backS$192.6 (waived 1 year)
Maybank Business PlatinumLearn MoreHigh cash back and fee waiverS$180.0 (waived 3 years)
DBS World BusinessLearn MoreTravel related benefitsS$406.6
SC Business PlatinumLearn More0% interest instalment planS$160.5
Citi CorporateLearn MorePurchasing suppliesS$150.0
UOB Platinum BusinessLearn MorePurchasing suppliesS$180.0
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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