This May, sign up for a credit card and you could walk away with welcome gifts like:

• Apple 10.9-inch iPad 10th Gen WiFi 64GB (worth $499)
• Sony WH-1000XM5 Wireless Noise Cancelling Headphones (worth $589)
• Level8 Gibraltar Aluminum Carry-On 20 inch Luggage (worth $719)
• 160,000 Membership Rewards® points (equivalent to 100,000 air miles)
• A generous 60,000 miles

Clearly, we're spoilt for choice-banks in Singapore are competing so hard for new credit card 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 (May 2025)

On top of your baseline gift, apply for selected Citi credit cards and stand to take home rewards like:

• Panerai Quaranta 40mm PAM01572 (worth S$8,500)
• $5,000 cash
• Apple 14″ MacBook Pro (worth $2,199)
• Apply by 15 Jun 2025. T&Cs apply.

Score an Apple iPad 10.9-inch (10th Generation), Wi-Fi 64GB (worth $499) with selected OCBC credit cards.

All you need to do is apply for any of the eligible cards, and charge at least one qualifying transaction to it within 30 days of your application approval! T&Cs apply.

1. Citibank credit card promotion

Looking to sign up for a new Citibank credit card? Well, you're in luck! Citibank credit card welcome gifts are looking very attractive right now with gifts like up to $370 cash or 5,040 SmartPoints for the taking. With 5,040 SmartPoints, you can redeem awesome gifts from our Rewards Store, including:

• Apple Watch SE, 40mm, GPS, (worth $383)-4,070 Points
• Apple AirPods Pro, 2nd Gen (worth $363)-4,030 Points

Among the Citi credit cards on promotion, our top pick is the Citi PremierMiles Card which lets you earn Citi Miles that never expire.

If you prefer a no-fuss cashback card, the Citi Cash Back+ Mastercard, an unlimited cashback card with no monthly minimum spend.

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

On top of the rewards above, you can also score get additional prizes like a Panerai Quaranta 40mm PAM01572 (worth $8,500), $5,000 cash, or an Apple 14″ MacBook Pro (worth $2,199). All you need to do to qualify is meet the spend requirements for the gifts above.

2. Standard Chartered credit card promotions

This month, it's tough to pick the best Standard Chartered credit card promotion. However, the unlimited cashback Standard Chartered Simply Cash Credit Card promotion comes up top in terms of cash value with $350 cash or 4,000 SmartPoints.

This month, you can also get $230 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.

3. CIMB credit card promotion

There are 3 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 $1,000 spend a month to enjoy the card's higher 2 per cent 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'll enjoy welcome gifts like $350 cash credit.

I want to give a shout out to the UOB PRVI Miles Card-did you know it has the highest base miles earn rate for general spending among other entry-level miles cards in Singapore? I recently reviewed it in comparison with the Krisflyer UOB Credit Card, and it's my clear pick between the 2.

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.

5. HSBC credit card promotions

The HSBC credit card line-up gained an exciting new lifestyle card last year-the HSBC Live+ Credit Card. Although the card's generous 8 per cent cashback on dining, shopping and entertainment was supposed to end on 31 Dec 2024, it's since been (sort of) extended. If you sign up for the card from now till 30 Sep 2025, you get to enjoy a total of 8 per cent cashback at selected dining, shopping and/or entertainment merchants for the first 2 calendar quarters from your card issue date.

Coupled with the welcome gifts it comes with, the HSBC Live+ is one attractive card.

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 160,000 Membership Rewards® points (equivalent to 100,000 Air Miles) you'll earn with the American Express The Platinum Card.

You'll need to spend $8,000 within the first 6 months from card approval, which will also earn you 10,000 Membership Rewards® points.

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 $300 cashback offer and a 85,000 miles promotion. The former applies to the DBS Live Fresh Card and DBS yuu Card:

The DBS Vantage Visa Infinite Card comes with a hefty 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 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-$300 cashback when you apply and spend $800 within 60 days.

9. Maybank credit card promotions

While Maybank credit cards aren't currently offering welcome gifts, they're still worth checking out.

My top pick is the Maybank Family & Friends Card, a cashback card that offers up to 8 per cent cashback on 5 cashback categories of your choice, plus up to 8 per cent cashback on on Malaysian Ringgit and Indonesia Rupiah spend.

Read our review of the Maybank Family & Friends Card for more details, and check out more Maybank credit cards using our credit card comparison tool.

10. OCBC credit card promotions

This month, OCBC credit cards come with goodies such as 1,960 SmartPoints or $150 cash. Don't know which card to choose? We got you. For the foodies, the OCBC 365 Credit Card earns you 5 per cent 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. Psst, this card is also a good choice to pair with the Amaze Card!

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.

So what's the lesson here? Read the T&Cs carefully, and only sign up when you're confident you can hit the minimum spend.

This article was first published in MoneySmart.