Are you interested in owning a credit card? Then again, does that excitement start to disappear at the thought of having to pay the annual fee?
Well, there’s a type of credit card specially for you!
Also referred to as “No-Fee Cards”, credit cards with no annual fees are ideal for a particular audience: people who don’t make too many purchases using their credit cards.
While they could use the freedom of affordability, these people don’t think of credit cards as their ticket to buy and pay for random products and services. They actually want to save.
If you’re one of these people A.K.A. someone who wants a credit card, but does not want to make too many purchases from it, a No-Fee Card seems like a great option.
Here’s a table that features different No-Fee Cards.
|Credit Card||Best for…|
|HSBC Advance VISA Platinum||Rewards|
|CIMB VISA Signature||Cash rebates|
|ANZ Switch Platinum||Dining privileges|
|Maybank Platinum VISA||Cashback|
|UOB Professionals Platinum||Exclusive privileges|
|DBS Safra Card||Exclusive clubhouse benefits|
1 – HSBC Advance VISA Platinum
Apart from not having to pay annual fees, 10x rewards (under particular categories) are yours if you use your HSBC Advance VISA Platinum. The list of categories includes entertainment, dining, and online transactions.
Just be sure that you’ll be paying for the products and services of participating merchants. A tip is to first inquire whether or not you (as an HSBC Advance VISA Platinum cardholder) are eligible to receive special privileges under a particular merchant. If you are, then go for it!
- Samsonite Plutus Black 68 cm luggage welcome bonus
- 16% petrol discount at Caltex
- 0% interest instalment plan (for 6, 12, 18, and 24 months)
- SGD $300,000 travel insurance
2 – CIMB VISA Signature
Highlight: Cash rebates
CIMB VISA Signature’s perpetual annual fee waiver is an enticing offer. What’s more is that the card comes with an irresistible deal: cash rebates.
You get 10% cash rebates for entertainment and dining. Plus, if you spend with the use of foreign currencies, you get 10% cash rebates, as well.
- 0.2% cashback on ALL spending
- No foreign currency admin fee
- SGD $500,000 complimentary travel insurance
3 – ANZ Switch Platinum
Highlight: Dining privileges
The ANZ Switch Platinum is another top credit card in Singapore that doesn’t charge an annual fee from cardholders – both principal and supplementary cardholders. Alongside, yet another good news are the dining privileges that come with this card. So long as you charge dine-in or dine-out expenses from this card, you can avail of the perk!
- Free MoneyLine account
- 20.3% petrol discount at Caltex
- Introductory 0% processing fee for balance transfers (6-month period)
4 – Maybank Platinum VISA
Whether you will be shopping online or you will be checking-in at a fancy restaurant, 3.33% cashback is yours! This is a great deal, because you can retrieve a portion of your money after spending it on products and services that you consider necessary. Another Maybank Platinum VISA bonus with regard to its cashback system is that you are free to choose categories.
Unlike with the other card on this list (CIMB VISA Signature), getting rebates is a bonus. While CIMB’s offer is 10% cashback on entertainment and dining is higher, the offer is good only for limited categories. On the other hand, Maybank VISA Platinum’s 3.33% cashback offer is good for ALL categories.
- Low interest rate (15% per year)
- SGD $500,000 travel insurance
5 – UOB Professionals Platinum
Highlight: Exclusive privileges
The UOB Professionals Platinum is hailed for its free-for-life status. Alongside, it’s an extraordinary card, which means not everyone can normally get it. Here is a list of people for whom the application for this card is open.
- Law Society of Singapore
- Alumni Association (of Singapore)
- ACCA or The Association of Chartered Certified Accountants
- ISCA or The Institute of Singapore Chartered Accountants
- SMA or The Singapore Medical Association
So, if you’re a UOB Professionals Platinum cardholder, you’re an elite! With the exclusivity of this card, you can avail of special promos that only a limited number of people can get.
- Extraordinary card design (includes our organisation’s name)
- SGD $5 = 1 UNI$
- Special dining privileges
- Instant cash rebates
6 – DBS Safra Card
Highlight: Exclusive clubhouse benefits
A major bonus of being a DBS Safra Card holder is the annual fee waiver – its perpetual fee waiver. Being a cardholder also entitles you to exclusive Safra clubhouse benefits.
There are six of these clubhouses across the island of Singapore. What’s so great about these clubhouses is being the ultimate activity centres. Inside them, you can find swimming pools, entertainment facilities, and gyms. In them, you can just sit back and relax while you keep yourself busy with the bountiful activities for you.
- 0.3% cash rebates on retail transactions
- 3% cash rebate on online transactions
- Compatible with MasterCard contactless and NETS FlashPay
The Bottom Line
As you can see, the credit cards in this list offer great deals – all of them do! Aside from not requiring annual fees from cardholders, they bring special deals on the table.
Take for example, ANZ’s Switch Platinum. It offers dining privileges, among the line-up of benefits. So, if you dine at restaurants often, this credit card could come in handy. And as it follows, if you apply for the card, you get bonuses without having an annual fee to worry about.
If you’re the type of spender who focuses on particular categories of a credit card and not have to pay upkeep costs, a No-Fee Card is worth checking out. With a No-Fee credit card, not only would you reap the benefits of a card under (at least) a single category, you also get to enjoy years ahead of not having to carry the weight of annual fees.
So, what are you waiting for? Sign up for a no-fee credit card ASAP! All over this post, you should have read the advantages of having a credit card with no annual fee, right?
For concerns, kindly leave your comments below.