Are you a student in Singapore looking for a credit card that suits your lifestyle and budget? If so, you’re in luck! There are several credit cards designed specifically for students that offer great rewards and benefits. In this article, we will take a look at the best student credit cards in Singapore.
When it comes to choosing a credit card, it’s important to consider your spending habits and needs. Some credit cards offer cashback rewards on dining and entertainment, while others offer discounts on shopping and travel. Additionally, many student credit cards have no minimum income requirement, making them accessible to students who may not have a steady income yet.
We’ve done the research for you and compiled a list of the top student credit cards in Singapore. From the Maybank eVibes card to the Standard Chartered Manhattan $500 Card, we’ll break down the pros and cons of each card so you can choose the one that’s right for you. So, let’s dive in and find the best student credit card for your needs!
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Short on time? No worries! This quick guide highlights the top picks for student credit cards in Singapore, focusing on cashback and rewards programs.
- DBS Live Fresh Student Card: Earn up to 5% cashback on online and contactless spending, perfect for online shoppers and digital payment users.
- CIMB AWSM Card: Enjoy 1% cashback on all your spending, with no annual fee, making it budget-friendly.
- Maybank eVibes Card: Get up to 8% cashback on dining, groceries, and petrol, ideal for foodies and everyday purchases.
- Citibank Clear Card: Score up to 10% off at select merchants and earn 1% cashback on other spending, great for those who love dining out and saving.
- Standard Chartered Manhattan $500 Card: Earn up to 3% cashback on dining, petrol, and travel, with exclusive student deals.
Remember, consider your spending habits when choosing a card to maximize your rewards!
Understanding Student Credit Cards in Singapore
Are you a student in Singapore looking for a credit card? A student credit card might be the perfect option for you. In this section, we’ll go over what student credit cards are, the benefits they offer, and the eligibility requirements you’ll need to meet.
What Is a Student Credit Card?
A student credit card is a credit card designed specifically for students. These cards typically come with lower credit limits and fewer rewards compared to regular credit cards. However, they also often have lower fees and interest rates.
Benefits of Student Credit Cards
There are several benefits to getting a student credit card in Singapore. For one, having a credit card can help you build your credit score, which is important for future loans and credit applications. Additionally, many student credit cards offer cashback or rewards for certain types of spending, such as dining or online shopping.
Eligibility Requirements for Student Credit Cards
To be eligible for a student credit card in Singapore, you’ll typically need to meet certain requirements. These can include:
- Age requirements: Most student credit cards have a minimum age requirement of 18 years old.
- Student status: You’ll need to be enrolled in a university or polytechnic in Singapore to qualify for a student credit card.
- Minimum income requirement: Some student credit cards require you to have a minimum income, while others do not.
- Credit limit: Student credit cards typically have lower credit limits compared to regular credit cards.
It’s important to note that eligibility requirements can vary depending on the credit card issuer. Be sure to check the specific requirements for any student credit card you’re interested in.
Top Picks for Best Student Credit Cards
As a student in Singapore, having a credit card can be a useful tool to help you manage your expenses and build your credit score. Here are the top picks for the best student credit cards in Singapore:
DBS Live Fresh Student Card
The DBS Live Fresh Student Card is a great option for students who enjoy dining out and shopping. With this card, you can earn up to 5% cashback on online and Visa contactless transactions. Additionally, you can enjoy discounts at selected merchants and earn 1% cashback on all other spend.
CIMB AWSM Card
The CIMB AWSM Card is an excellent choice for students who want to earn rewards without paying an annual fee. With this card, you can earn up to 1% cashback on all spend. Plus, you can enjoy exclusive deals and discounts at selected merchants.
Maybank eVibes Card
The Maybank eVibes Card is a great option for students who want to earn cashback on their spend. With this card, you can earn up to 8% cashback on dining, groceries, and petrol. Plus, you can enjoy exclusive deals and discounts at selected merchants.
Citibank Clear Card
The Citibank Clear Card is a popular choice among students who want to enjoy discounts at selected merchants. With this card, you can enjoy up to 10% off at selected dining establishments and entertainment outlets. Plus, you can earn 1% cashback on all other spend.
Standard Chartered Manhattan $500 Card
The Standard Chartered Manhattan $500 Card is a great option for students who want to earn cashback on their spend and build their credit score. With this card, you can earn up to 3% cashback on dining, petrol, and travel. Plus, you can enjoy exclusive deals and discounts at selected merchants.
Maximising Your Student Credit Card
If you have a student credit card, you can maximise its benefits by understanding how to earn and redeem rewards, understanding the fees and charges, and building a healthy credit score.
How to Earn and Redeem Rewards
Most student credit cards in Singapore offer rewards such as cash rebates or rewards points for spending on the card. To maximise your rewards, you should:
- Use your card for everyday expenses such as groceries, transportation, and dining out.
- Look out for promotions and bonus rewards for specific categories such as online shopping or travel.
- Redeem your rewards regularly to avoid expiry dates and make the most of your points.
Understanding the Fees and Charges
While student credit cards may offer benefits such as no annual fees or low interest rates, it is important to understand the fees and charges that may apply. These may include:
- Late payment fees
- Cash advance fees
- Balance transfer fees
- Foreign transaction fees
By understanding these fees and charges, you can avoid unnecessary expenses and keep your credit card usage within your budget.
Building a Healthy Credit Score
Using your student credit card responsibly can help you build a healthy credit score, which is important for future credit applications. To build a healthy credit score:
- Pay your bills on time and in full to avoid late payment fees and interest charges.
- Keep your credit utilisation ratio low by using only a small percentage of your available credit.
- Monitor your credit report regularly to ensure accuracy and identify any potential issues.
By following these tips, you can maximise the benefits of your student credit card and build a strong financial foundation for the future.
Lifestyle Benefits and Discounts
As a student, you want to make your money go further and get the most out of your credit card. That’s why lifestyle benefits and discounts are so important when it comes to choosing the best student credit card in Singapore. Here are some of the top lifestyle benefits and discounts offered by the best student credit cards in Singapore.
Exclusive Dining Deals
If you’re a foodie, you’ll love the exclusive dining deals offered by some student credit cards in Singapore. For example, the Maybank eVibes Card offers up to 15% off your total bill at selected gourmet pleasures, while the Citibank Clear Card offers up to 10% off your total bill at over 500 dining outlets islandwide. With these exclusive dining deals, you can enjoy your favourite meals while saving money at the same time.
Online Shopping Perks
Online shopping has become increasingly popular among students, and some student credit cards in Singapore offer exclusive online shopping perks. For example, the CIMB AWSM Card offers up to 8% cashback on online shopping with selected eco-friendly merchants, while the Maybank eVibes Card offers up to 3.33% cashback on online shopping with selected merchants. With these online shopping perks, you can save money while shopping for your favourite items online.
Entertainment and Leisure Offers
As a student, you want to have fun and enjoy your leisure time. That’s why some student credit cards in Singapore offer exclusive entertainment and leisure offers. For example, the Standard Chartered Manhattan $500 Card offers up to 15% off your Golden Village movie tickets, while the Citibank Clear Card offers up to 10% off your Netflix and Spotify subscriptions. With these entertainment and leisure offers, you can have fun and save money at the same time.
Tip: Maximize Your Rewards with Smart Usage
Here’s a game-changing tip for all savvy student cardholders: leverage your spending categories strategically. Tailor your card usage to maximize rewards by aligning purchases with the card’s designated benefits.
For instance, if you own the DBS Live Fresh Student Card, make the most of its 5% cashback on online and Visa contactless transactions by allocating your online shopping and contactless payments to this card.
Moreover, keep an eye out for special promotions and partnerships that might offer temporary boosts to your rewards. Stay proactive in exploring exclusive deals and discounts available to cardholders, ensuring you don’t miss out on valuable savings.
By being intentional in your spending, you not only make the most of your student credit card benefits but also set the stage for responsible financial habits and a thriving credit score.
Practical Tips for Student Credit Cardholders
As a student credit cardholder, it’s important to manage your expenses and budget effectively to avoid overspending and accumulating debt. Here are some practical tips to help you make the most of your credit card:
Managing Expenses and Budgeting
- Create a budget: Before making any purchases, create a budget to help you keep track of your expenses. This will help you avoid overspending and ensure that you have enough money to pay off your credit card bills at the end of the month.
- Track your expenses: Keep track of your expenses by using a budgeting app or spreadsheet. This will help you identify areas where you can cut back on expenses and save money.
- Use your credit card wisely: Use your credit card only for essential purchases and avoid using it for luxury items or non-essential expenses.
- Take advantage of cash rebates: Look for credit cards that offer cash rebates on purchases. This can help you save money on essential purchases and reduce your overall expenses.
Avoiding Common Pitfalls
- Pay your bills on time: Late fees and interest charges can add up quickly, so it’s important to pay your credit card bills on time. Set up automatic payments or reminders to ensure that you don’t miss any payments.
- Don’t exceed your credit limit: Exceeding your credit limit can result in additional fees and damage your credit history. Keep track of your credit limit and avoid making purchases that will push you over the limit.
- Build a good credit history: Your credit history will impact your ability to get loans and credit in the future. Make sure to pay your bills on time and use your credit card responsibly to build a good credit history.
By following these practical tips, you can make the most of your student credit card and avoid common pitfalls. Remember to use your credit card wisely and budget effectively to stay on top of your finances.
Comparing Student Credit Cards
If you’re a student in Singapore, choosing the right credit card can be daunting. There are plenty of options out there, each with its own set of features and rewards. To help you make an informed decision, we’ve put together this comparison of the best student credit cards in Singapore.
Features to Consider
When comparing credit cards, there are a few features you should consider:
- Annual Fees: Look for cards with low or no annual fees to save money.
- Cashback Cap: Some cards have a cap on the amount of cashback you can earn. Make sure the cap is high enough to suit your needs.
- Cashback: Look for cards that offer cashback rewards on your spending.
- Rewards Points: Some cards offer rewards points instead of cashback. Consider which type of reward is more valuable to you.
- Low Annual Fees: Some cards offer low annual fees, making them a good choice for students on a tight budget.
Comparison of Reward Programs
Here’s a comparison of the reward programs offered by the top student credit cards in Singapore:
| Card Name | Cashback | Rewards Points | Annual Fee |
|---|---|---|---|
| Maybank eVibes Card | Up to 8% cashback on dining, entertainment, and online shopping | N/A | No annual fee |
| Citibank Clear Card | Up to 3% cashback on dining, groceries, and online shopping | 1 reward point per $1 spent | $29.96 (waived for first year) |
| CIMB AWSM Card | Up to 1% cashback on all spend | 10 reward points per $1 spent | No annual fee |
| Standard Chartered Manhattan $500 Card | Up to 0.25% cashback on all spend | 1 reward point per $1 spent | $32.10 (waived for first year) |
| DBS Live Fresh Student Card | Up to 5% cashback on online shopping and Visa payWave transactions | 1 reward point per $5 spent | No annual fee |
As you can see, each card has its own strengths and weaknesses. Consider which features are most important to you when making your decision.
Additional Resources and Support
As a student, managing your finances can be challenging. Fortunately, banks in Singapore offer various resources and support to help you make informed decisions about credit cards and other financial matters. Here are some additional resources and support that you can access:
Contacting Banks for Queries
If you have any questions or concerns about your credit card, you can always contact your bank’s customer service hotline. Most banks have a dedicated hotline for credit card-related queries, and their customer service representatives are always ready to assist you.
You can also visit your bank’s website for more information about their credit cards, including the terms and conditions, fees and charges, and rewards and benefits. Some banks even have online chat support, which you can use to get quick answers to your queries.
Financial Education for Young Adults
In addition to providing credit cards and other financial products, many banks in Singapore also offer financial education programmes for young adults. These programmes are designed to help you develop good financial habits and make informed decisions about money.
For example, NUS, NTU, and SMU have financial literacy programmes that cover topics such as budgeting, saving, investing, and debt management. The polytechnics, such as Nanyang Polytechnic, Ngee Ann Polytechnic, Temasek Polytechnic, and Singapore Polytechnic, also offer similar programmes for their students.
In addition to these programmes, you can also find a wealth of information about personal finance online. Websites such as dollarbureau.com, singsaver.com.sg, and wise.com/sg/blog offer informative articles and guides about credit cards, loans, insurance, and other financial products.
By taking advantage of these resources and support, you can make informed decisions about your credit card and other financial matters. With the right information and tools, you can manage your finances effectively and achieve your financial goals.
Sustainability and Eco-Friendliness
If you are someone who is passionate about the environment and want to make a difference with your spending, there are credit cards in Singapore that support eco-friendly practices. By using these cards, you can contribute to sustainable spend and support eco-friendly merchants.
Supporting Eco-Friendly Practices with Your Card
The DBS Live Fresh Student Card is a great option for those who want to support eco-friendly practices. With this card, you can earn up to 5% cashback on online and Visa contactless transactions, which includes transactions made at eco-friendly merchants. These merchants include FairPrice Online, Foodpanda, and Deliveroo, among others. By using the DBS Live Fresh Student Card, you can make a difference with your spending and support businesses that are committed to sustainability.
Another option is the CIMB AWSM Card, which offers 1% cashback on all transactions, including those made at eco-friendly merchants. This card also has no annual fee, making it a great choice for students who want to save money while supporting sustainable practices.
Frequently Asked Questions
What are the top perks of the DBS Live Fresh Student Card for undergraduates?
The DBS Live Fresh Student Card offers several perks that are particularly attractive to undergraduates. Firstly, cardholders can earn cashback on online and contactless transactions, which is perfect for students who frequently shop online or use digital payment methods. Additionally, DBS offers discounts on food and beverage purchases at selected merchants, as well as exclusive deals on entertainment options such as movie tickets and theme parks.
How can international students apply for a student credit card in Singapore?
International students can apply for a student credit card in Singapore by meeting the eligibility criteria set by the credit card issuer. Typically, international students must have a valid student pass, proof of enrollment at a recognized institution, and a minimum income requirement. Some credit cards may also require a local guarantor. It’s best to check with the specific credit card issuer for their application requirements.
What are the benefits of the Maybank eVibes Student Credit Card for young adults?
The Maybank eVibes Student Credit Card offers several benefits for young adults. Cardholders can earn cashback on their spendings, including groceries, dining, and entertainment. Additionally, the card has no annual fee and comes with a low credit limit, which is perfect for students who are just starting to build their credit history. Maybank also offers exclusive promotions and discounts for cardholders, such as discounts on travel and shopping.
Are there any credit cards available for 18-year-olds in Singapore with no income?
Yes, some credit cards are available for 18-year-olds in Singapore with no income. For example, the CIMB AWSM Card does not require a minimum income and offers cashback on all spendings. However, some credit cards may require a minimum income or a local guarantor. It’s best to check with the specific credit card issuer for their eligibility criteria.
Which student credit card offers the best rewards programme for tertiary students?
The Citibank Clear Card offers the best rewards program for tertiary students. Cardholders can earn cashback on dining, shopping, and entertainment, as well as discounts on selected merchants. Additionally, Citibank offers exclusive deals and promotions for cardholders, such as discounts on travel and shopping.
How does the UOB Student Credit Card support budget management for university students?
The UOB Student Credit Card offers several features that support budget management for university students. Firstly, the card comes with a low credit limit, which helps students control their spendings. Additionally, cardholders can earn cashback on their spendings, including groceries, dining, and entertainment. The card also offers exclusive deals and promotions for students, such as discounts on selected merchants and cash rebates on utility bills.
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