Best credit card promotions in Singapore (Aug to Sept 2024): Citibank, DBS, HSBC and More

This August, sign up for a credit card and you could walk away with a brand‑new all‑electric Mercedes-Benz EQB, a Cartier Santos-Dumont Watch — Large Model, Blue (worth $6,000), an Apple 11-inch iPad Air WiFi, 128GB (worth $899), a Sony PlayStation 5 SLIM Digital Edition (worth $669)…and the list goes on.

Clearly, we're spoilt for choice when it comes to credit card promotions these days. Banks offering credit cards in Singapore are competing so hard for new customers that they are practically raining Apple products, Nintendo Switches, ergonomic chairs, and other freebies on us.

Even if you don't see any item you want, some welcome gifts are just straight up cold, hard cash!

But which are the best credit card promotions in Singapore? Here are our top picks from Citibank, Standard Chartered, UOB, DBS, and more.

An overview: Best credit card promotions in Singapore (Aug 2024)

 ★ HSBC Live Your Adventure Lucky Draw!

Stand to win an all-electric Mercedes-Benz EQB or a round-trip Economy class ticket to Paris (in the form of 86,000 KrisFlyer miles) when you apply for an HSBC credit card!

• 20 chances: Sign up and activate the HSBC Live+ Credit Card
• 10 chances: Sign up and activate another HSBC credit card
• 5 chances: With every $500 spend on your HSBC credit card

Valid from now till Sept 30, 2024.

1. Citibank credit card promotion

Looking to sign up for a new Citibank credit card? Well, you're in luck! This month, Citibank credit card welcome gifts include:

• 5,040 SmartPoints-redeem them for any gift from our Rewards Store.
• Upsized cash rewards of up to $450 ($300 cash + $150 Trip.com coupon)

All you need to do is sign up for one of the following Citibank credit cards via MoneySmart and spend $500 within 30 days. Once you fulfil the minimum spend criteria, these gifts will be coming to you on the express train-receive your sign-up gift in as fast as five weeks!

There are 4 Citibank credit cards on promotion. Our top pick is the Citi Cash Back+ Mastercard, an unlimited cashback card with no monthly minimum spend.

If you'd prefer a miles card, the Citi PremierMiles Card lets you earn Citi Miles that never expire.

Here's a summary of all the Citibank credit cards with ongoing promotions:

The Citibank SMRT Card does not have any ongoing promotions, but it’s a great choice for cashback on groceries, online shopping, and SimplyGo transactions.

2. Standard Chartered credit card promotions

There are a few Standard Chartered credit card promotions ongoing this month that are all very enticing. It’s hard to pick the best, but the Standard Chartered Simply Cash Credit Card promotion comes up top in terms of cash value. This card is an unlimited cashback card with no cashback cap and no minimum spend.

This month, you can also get $200 cash via PayNow or 2,990 SmartPoints when you apply for the Standard Chartered Smart Credit Card or Standard Chartered Rewards+ Credit Card.

Here’s a summary of all Standard Chartered credit card promotions this month:

The other Standard Chartered credit cards don’t have ongoing sign-up promotions this month. Wondering what happened to the Standard Chartered X Card, with its infamous 100,00 miles sign-up promotion? The X card got X-ed, and has been replaced by the Standard Chartered Journey Credit Card.

3. CIMB credit card promotion

There are three credit cards with an ongoing promotion to get $188 cashback for those new to CIMB credit cards.

The most accessible CIMB credit card is the CIMB World Mastercard, which has a $0 minimum spend per month. Note, however, that you’ll need to hit $1,00 a month to enjoy the card’s higher 2% unlimited cashback rate.

Here are all the CIMB credit card promotions:

4. UOB credit card promotions

This month, apply for selected UOB credit cards and you could score rewards such as:

• Cartier Santos-Dumont Watch – Large Model, Blue (worth S$6,000)
• Apple 11-inch iPad Air WiFi, 128GB (worth S$899)
• Sony PlayStation 5 SLIM Digital Edition (worth S$669)

The UOB credit cards eligible for the lucky draw are:

• UOB One Credit Card
• UOB Absolute Cashback Card
• UOB EVOL Credit Card
• UOB Lady’s Card

The gifts in you could score from the lucky draw above are on top of welcome gifts such as a Sony WH-1000XM5 Wireless Noise Cancelling Headphones (worth $589), an Apple Watch SE 2nd Gen with CASETiFY Impact Band (worth $453), or $350 Cash Credit from UOB.

Here’s a summary of all ongoing UOB credit card welcome promotions this month:

At the time of writing, the UOB Preferred Platinum Visa Card and UOB Visa Infinite Metal Card have no ongoing promotions.

Which UOB card should you apply for? Currently, the UOB card that excites me the most is the recently revamped UOB Lady’s Card. Available to both ladies and gentlemen, the card lets you earn up to 25X UNI$ (equivalent to 10 miles per S$1) on a category of your choice — Travel, Dining, Beauty & Wellness, Family, Fashion, Transport, Entertainment — with no minimum spend. You can change your preferred category every quarter.

With a 50,000 miles bonus, the UOB PRVI Miles Card offers one of the biggest miles promotion this month:

5. HSBC credit card promotions

It’s an exciting time for HSBC credit cards. They recently nerfed their HSBC Revolution Credit Card, but this nerf has been overshadowed by the release of their new lifestyle card, the HSBC Live+ Credit Card. With this card, earn 8% cashback on dining, shopping and entertainment from now till 31 Dec 2024. Plus, enjoy generous welcome bonuses:

• Samsonite ZELTUS 69cm Spinner Luggage (worth S$680) OR $200 Cashback when you charge $500 in Qualifying Transactions from your Card Account Opening Date to the end of the following month.
• PLUS get additional $100 Cashback when you charge at least 1 Qualifying Transaction from your Card Account Opening Date to the end of the following month.

On top of that, apply for the HSBC Live+ Card and earn 20 chances in HSBC’s Live your Adventure Lucky Draw running from now till Sept 23, 2024.

Earn 10 chances with other HSBC credit cards, and an additional five chances with every $500 spend on your HSBC credit card. You stand to win an all-electric Mercedes-Benz EQB or round-trip air tickets to Paris!

There’s no current promotion for the HSBC Visa Infinite Credit Card.

6. AMEX credit card promotions

This month, the juiciest Amex welcome promotion is the 141,000 Membership Rewards® points (equivalent to 88,000 KrisFlyer miles) you’ll earn with the American Express The Platinum Card.

Here are all the American Express credit card promotions this month:

This month, the American Express CapitaCard does not have any ongoing promotions.

7. DBS credit card promotions

The juiciest DBS credit card sign-up promotions this month are a $388 cashback promotion and a 85,000 miles promotion. The former applies to the DBS yuu Card: 

The DBS Vantage Visa Infinite Card comes with a fat miles welcome gift this month, but do note that this is not an entry-level miles card:

Here’s the full list of ongoing DBS credit card promotions:

These other DBS credit cards do not have ongoing sign-up promotions:

• SAFRA DBS Card
• DBS Live Fresh Student Card
• DBS Takashimaya American Express Card
• DBS Esso Card
• DBS Woman’s Card
• DBS Woman’s World Card

A word on the DBS Woman’s and Woman’s World Card: Don’t be fooled by the name. You can apply for these cards no matter your gender.

8. POSB Credit Card Promotion

The POSB Everyday Card is a straightforward cash rebates card with (strictly speaking) no minimum spend; certain bonus reward categories require you to spend above $800/month.

As the name suggests, you can apply for the POSB Everyday Card to make the most out of your day-to-day spending. The latest POSB Everyday Card promotion is as fuss-free as the card—$150 cashback when you apply and spend $800 within 60 days.

9. OCBC credit card promotions

Currently, there aren’t any welcome promotions for OCBC credit cards. However, they’re still worth checking out for their rebates and rewards.

For the foodies, the OCBC 365 Credit Card earns you 5% cashback on everyday dining with a minimum monthly spend of $800.

For a card that earns rebates you on a wider range of spend categories, consider the OCBC Rewards Credit Card for up to 4 miles per dollar at selected retailers.

If you’re an avid traveller in the miles game, check out the OCBC 90°N Card for up to 7 miles per dollar on Agoda accommodations worldwide.

If you’re going to make a large purchase or just want a catch-all credit card you don’t need to think about before using, consider the OCBC INFINITY Cashback Card for an unlimited 1.6% cashback on practically any spend category (the usual culprits like taxes and insurance premiums don’t apply).

Credit card promotions - is there a catch?

With free AirPods Pro, ergonomic standing desks and thousands of miles raining down on us, you might be wondering: Is there a catch to all these freebies?

Truth is, there is one drawback to signing up for credit card promotions: You won’t be eligible for more freebies in the future. Well, at least for a year. Here’s how it works:

Banks and comparison sites like MoneySmart usually offer the best giveaways for new sign ups. Usually this is defined as people who either:

• Have never ever owned a credit card from that bank, OR
• Cancelled their card at least 12 months ago

If you’re thinking of gaming the system by cancelling your card and re-applying, tough luck!

Another thing to note is that you must hit the minimum spend to get your reward. If you’re really lucky, you’ll get your shiny new iPad or cashback immediately upon card approval.

However, most banks require you to spend a minimum sum (say, $1,000 in the first month) and sometimes even fork out the first year’s annual credit card fee (goodbye, fee waiver!). After all that, banks will make you wait a few months before you can even smell the freebie.

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This article was first published in MoneySmart.