Most no-annual fee credit cards in Singapore offer only for the initial one or two years, enticing users to switch.
However, after that, a substantial annual fee (typically S$180 + GST) may apply. While you can request a waiver, it’s not guaranteed.
To avoid this hassle, consider opting for a no-annual-fee credit card in Singapore from the start to enjoy the benefits without the administrative burden.
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How do No Annual Fee Credit Cards Work?
The notion of no-annual-fee credit cards in Singapore may appear counterintuitive, considering the widespread expectation of an annual charge associated with credit cards.
Nevertheless, these cards function by eliminating the conventional yearly fee, enabling users to enjoy the benefits of a credit card without incurring an additional cost. There are diverse types of no-annual-fee credit cards, each with its unique mechanisms:
- Automatic Fee Waivers: Certain credit cards feature automatic fee waivers, ensuring users are spared from annual charges if they meet specific criteria. This often entails achieving a minimum spending requirement within a designated timeframe.
- Membership-Based Free Credit Cards: Some credit cards grant fee exemptions to specific groups based on membership. Members of organizations or associations may be eligible for credit cards with perpetual annual fee waivers as long as they maintain their membership.
- Priority Banking Benefits: Priority banking customers regularly receive complimentary credit cards without annual fees, often linked to maintaining a particular level of banking relationship or account status.
Despite their straightforward nature, misconceptions about no-annual-fee credit cards are prevalent. Some individuals mistakenly believe that the absence of an annual fee implies fewer perks or benefits.
However, many of these cards still provide competitive rewards, cashback programs, and other valuable advantages. It’s crucial to understand that the simplicity of these cards does not compromise the quality of the benefits they offer, rendering them a cost-effective and rewarding choice for cardholders.
Overview of Best Credit Cards with No Annual Fees Singapore
Hey there! Ready to discover the top credit cards in Singapore that won’t cost you a dime in annual fees?
We’ve handpicked the best options so you can enjoy the perks without breaking the bank.
From cashback rewards to exclusive deals, these cards offer it all. Check out the overview and find the perfect no-annual-fee credit card that suits your lifestyle.
| Credit Card | Annual Fee | Minimum Spend per Month |
| CIMB Visa Signature | No annual fee | S$800 per month |
| CIMB World Mastercard | No annual fee | S$500 per month |
| CIMB Visa Infinite | No annual fee | S$200 per month |
| CIMB AWSM Card | No annual fee | No minimum s |
| DBS Woman’s Credit Card | S$162 | Waived for first year, subsequently S$15,000 annually |
| Maybank FC Barcelona Credit Card | S$194.40 | Waived for first year, subsequently S$25,000 annually |
| Maybank Privilege Horizon Visa Signature Card | S$120 | S$10,000 annually |
| DBS Woman’s Credit Card | S$162 | Waived for first year, subsequently S$15,000 annually |
| Maybank FC Barcelona Credit Card | S$194.40 | Waived for first year, subsequently S$25,000 annually |
| DBS Woman’s Credit Card | S$162 | Waived for first year, subsequently S$15,000 annually |
| Maybank FC Barcelona Credit Card | S$194.40 | Waived for first year, subsequently S$25,000 annually |
| Maybank Privilege Horizon Visa Signature Card | S$120 | S$10,000 annually |
| Maybank Privilege Horizon Visa Signature Card | S$180 | Deposit or invest at least S$50,000 |
| DBS Treasures Black Elite Card | S$535 | Deposit or invest at least S$350,000 |
CIMB No Annual Fee Credit Cards
In Singapore, CIMB is renowned for its no-annual fee credit cards Singapore, while digital banks like Trust and providers such as Revolut and GrabPay offer similar options. Some credit cards with no annual fee in Singapore, like Citi Double Cash and Citi Diamond Preferred, also skip annual fees, though they may lack robust rewards.
CIMB Bank offers a selection of credit cards with no annual fee in Singapore, each with the advantage of not having an annual fee. These cards are:
- CIMB Visa Signature
- CIMB World Mastercard
- CIMB Visa Infinite
- CIMB AWSM Card
These credit cards cater to different preferences and needs, providing users with a range of benefits and features without the burden of an annual fee. Whether you prioritize cashback, travel perks, or specific spending categories, CIMB’s no-annual-fee credit card options offer versatility and value to cardholders.
1.CIMB Visa Signature
| Annual Fee: | No annual fee |
| Eligibility: | At least 21 years old with min income of S$30,000 |
| Minimum Spend: | S$800 per month |
| Cash back cap per month: | Unlimited 0.2% cashback capped at S$100 |
Key features:
- Earn 10% Cashback on Beauty & Wellness, Online Shopping, Groceries, Pet Shops & Veterinary Services, and Cruises.
- Enjoy Complimentary Travel Insurance coverage up to S$500,000.
- Benefit from the Visa Signature Concierge service.
- Apply for up to 4 supplementary cards and have the annual fees waived for all supplementary cards.
- Gain access to over 1,000 regional deals with discounts of up to 50%.
Benefits:
- No Annual Fees Indefinitely: The card comes with no annual fees indefinitely, making it truly free to use, saving you from any recurring charges.
Best for:
- This credit card caters to a broad audience, offering benefits that everyone can enjoy, especially with its enticing cashback on groceries and online shopping.
- Additionally, if you’re someone who regularly treats yourself to spa services or has a pet, this card becomes even more appealing, delivering added value and savings in these specific categories.
Click here to apply for CIMB Visa Signature!
2. CIMB World Mastercard
| Annual Fee: | No annual fee |
| Eligibility: | At least 21 years old with min income of S$30,000 |
| Minimum Spend: | S$500 per month |
| Cash back cap per month: | Unlimited 2% on eligible merchant categories and 1% unlimited cashback on other spend |
Key features:
- Earn 2% Unlimited Cashback on Wine & Dine, Online Food Delivery, Movies & Digital Entertainment, Taxi & Automobile, and Luxury Goods. Receive 1%* Cashback on all other expenditures.
- Access over 1,000 Airport Lounges through Mastercard® Airport Experiences provided by LoungeKey.
- Get a 50% discount on Green Fees at golf courses across the region.
- No annual fees for the entire duration of the card’s validity.
- Apply for up to 4 supplementary cards and have the annual fees waived for all supplementary cards.
Benefits:
- No annual fees incurred
- Cashback tiers based on spending:
- Below $500: 1% unlimited cashback on specified categories.
- $500 or more: 2% unlimited cashback on specified categories.
- Enjoy a lifelong waiver of the annual fee, eliminating the need to request fee waivers.
Best for:
- This credit card is well-suited for individuals seeking a versatile and practical cashback option for their everyday use.
- Whether it’s for routine expenses or varied spending, this card is designed to offer basic and adaptable cashback benefits, making it suitable for a wide range of daily needs.
Click here to apply for CIMB World Mastercard!
3. CIMB Visa Infinite
| Annual Fee: | No annual fee |
| Eligibility: | At least 21 years old with min income of S$30,000 |
| Minimum Spend: | S$200 per month |
| Cash back cap per month: | Unlimited 2% on Travel, Overseas & Online Spend in Foreign Currency |
Key features:
- Earn Unlimited 2%* Cashback on Travel, Overseas, and Online Spend in Foreign Currencies. Receive 1%* Cashback on all other expenditures.
- The 2% cashback includes a base cashback of 1% and an additional 1% cashback.
- Apply for up to 4 supplementary cards and have the annual fees waived for all supplementary cards.
- Access over 1,000 regional deals with discounts of up to 50%.
Benefits:
- No annual fees for the entire duration of the card’s validity.
- Benefit from the Visa Infinite Concierge service.
- Enjoy complimentary access to over 1,000 airport lounges through the CIMB Airport Companion Programme.
Best for:
- This credit card is an optimal choice for individuals who frequently travel and desire access to lounge facilities and other travel-related perks.
- Whether you’re a business traveler or someone who enjoys leisure trips, this card is tailored to enhance your travel experience by providing lounge access and additional benefits during your journeys.
Click here to apply for CIMB Visa Infinite!
4. CIMB AWSM Card
Key Features:
- Entry-level credit card
- Annual income requirement: $18,000 and above (for those under 35 years old)
- 1% unlimited cashback on three specific categories:
- Dining & entertainment
- Online shopping
- Telecommunications (Singtel, M1, Starhub, Circles.Life, and MyRepublic only)
Benefits:
- No annual fees incurred
- Straightforward cashback structure with unlimited earning potential.
- Tailored focus on spending categories relevant to everyday lifestyle.
Best For:
- Individuals under 35 years old seeking an entry-level credit card.
- Those with an annual income of $18,000 or more.
- Individuals who frequently spend on dining, entertainment, online shopping, and specific telecommunications services listed (Singtel, M1, Starhub, Circles.Life, and MyRepublic).
Click here to apply for CIMB AWSM Card!
Best Credit Cards Offering Automatic Fee Waivers
Opting for a credit card equipped with an automatic fee waiver feature is an effective strategy to secure a perpetual annual fee exemption. Financial institutions such as DBS/POSB, OCBC, UOB, and Maybank provide this benefit upon reaching their specified minimum annual spending threshold.
By consistently meeting this spending requirement, cardholders can sidestep the need to request a fee waiver. Minimum spending criteria differ across cards; not all credit cards qualify for this automatic waiver.
In the following list, we have gathered credit cards with the lowest thresholds for automatic annual fee waivers.
| Credit card | Annual fee | Minimum spend for auto fee waiver |
| Maybank Platinum Visa Card | S$20 per quarter | N/A, just spend every 3 months |
| Singtel-UOB Card | S$194.40 | N/A, just charge your Singtel bill |
| Maybank Manchester United Visa Platinum Card | S$80 | Waived for first 2 years, subsequently S$3,600 annually required |
| OCBC Great Eastern Cashflo Credit Card | S$162 | Waived for first 2 years, subsequently S$5,000 annually |
| Other OCBC credit cards | Varies | S$10,000 (for select OCBC cards) |
| DBS Woman’s Credit Card | S$162 | Waived for first year, subsequently S$15,000 annually |
| DBS Woman’s World Credit Card | S$194.40 | Waived for first year, subsequently S$25,000 annually |
| Maybank FC Barcelona Credit Card | S$120 | S$10,000 annually |
Deals that you should not miss out on:
The Maybank Platinum Visa Card features a quarterly fee rather than an annual one, and the good news is that you can waive it by simply making any charge to the card every quarter. There’s no minimum amount required.
As for the Maybank Credit Card Welcome Offer, you can receive a pair of American Tourister Linex Spinner 66/24 Luggage (worth S$336), Apple AirPods 3rd Gen with Lightning Charging Case (worth S$261.40), 10,000 KrisFlyer Miles, or S$200 cashback.
Just apply for a new Maybank credit card and make a minimum spend and/or withdrawal of S$600 monthly for two consecutive months from the card approval date. This offer is valid until January 31, 2024. Terms and conditions apply.
Best Complimentary Credit Cards Offered Through Membership Programs
For those affiliated with NTUC or SAFRA, obtaining a credit card without annual fees is a straightforward process. These organizations provide co-branded credit cards, ensuring ongoing annual fee waivers based on the cardholder’s continuous membership.
The SAFRA DBS Credit Card is a straightforward and user-friendly option. By meeting a minimum monthly spending requirement of S$500, cardholders can enjoy a convenient 3% cash rebate on online transactions and contactless payments. Available to NSFs/NSmen, SAFRA membership entails varying fees, spanning from S$43.20 for a 3-year term to S$437.40 for a 10-year membership.
Deals that you should not miss out on:
Welcome Gift for DBS/POSB Credit Card: Obtain S$250 cashback or up to 60,000 miles upon successful application for specified DBS credit cards and meeting the applicable promotion requirements. Terms and conditions apply.
Best No-Cost Credit Cards for Exclusive Priority Banking Clients
As a priority banking client with Maybank or DBS, you can secure an ongoing exemption from annual fees. The credit card’s annual fee will be consistently waived as part of your membership in the program.
For individuals enrolled in exclusive priority banking programs with Maybank or DBS, the privilege extends to obtaining credit cards with no annual fees. As a valued priority banking client, you enjoy the distinct advantage of a perpetual exemption from annual fees for your credit card.
This means that, as long as you remain an active member of the priority banking program, the credit card’s annual fee will be consistently waived, providing a seamless and continuous benefit associated with your membership in this exclusive financial service.
This arrangement is designed to enhance the overall banking experience for priority clients, offering financial convenience and savings in the form of waived annual fees.
| Credit card | Priority banking programme | Criteria |
| Maybank Privilege Horizon Visa Signature Card | Maybank Privilege | Deposit or invest at least S$50,000 |
| DBS Treasures Black Elite Card | DBS Treasures | Deposit or invest at least S$350,000 |
Conclusion
In summary, there’s a diverse range of credit card with no annual fee Singapore for those seeking to avoid the annual fee hassle. As we’ve outlined some top choices earlier, it’s evident that no annual fee credit cards and those with fee waivers can significantly enhance your financial experience.
Opting for a credit card with no annual fee or a reliable fee waiver brings several advantages. Firstly, it eliminates the recurring burden of annual charges, providing a cost-effective solution. This ensures that you can enjoy the perks and privileges of a credit card without incurring additional costs.
Additionally, the long-term benefits of no annual fee credit cards extend beyond the immediate savings. These cards often come with competitive rewards, cashback programs, and other enticing offers, making them financially prudent choices. By selecting the right card, you not only save money but also gain access to valuable perks that contribute to your overall financial well-being.
If you’ve exhausted your card’s complimentary fee waiver or are seeking ongoing solutions, our Annual Fee Waiver Guide (By Banks) offers valuable insights. Lastly, in our final thoughts on choosing the right no annual fee credit card in Singapore, we encourage you to explore the various benefits these cards bring.
Whether it’s saving on expenses, earning rewards, or enjoying exclusive privileges, finding the card that aligns with your needs can significantly enhance your financial journey.
Frequently Asked Questions
Financial Disclaimer:
The information provided is for general informational purposes only and should not be considered financial advice. It may not reflect the most current market conditions, and users are encouraged to conduct their own research and consult with qualified financial professionals before making any financial decisions. We do not guarantee the accuracy or completeness of the information and disclaim any liability for errors or damages arising from its use. Financial decisions involve risk, and past performance does not indicate future results. Users should consider their own financial goals and circumstances before making any investment decisions.
