Finding a great credit card without having credit history can be challenging. In many cases, however, lack of credit history can be waived for cards with low S$500 credit limits, or with a fixed deposit as collateral. Based on these features, our credit card experts identified and compared some of the best credit cards for no credit history below. Show
Best Credit Cards for No Credit HistoryCard FeaturesWaiver w/ Fixed DepositHSBC Revolution2 miles per S$1 on dining, entertainment & online
Best Cards for Credit Waivers with Fixed Deposit PaymentSome credit cards waive lack of credit history when you pay a fixed deposit as collateral. If you can afford the payment, you can access cards with much higher rewards rates. Best Miles for Social & Online Spend: HSBC Revolution Card Apply Now Apply Now Consider this if you spend mostly on shopping, dining and entertainment Read Review more details less details
Promotions: HSBC Revolution Card is a great, affordable option as a first credit card, as long as you’re willing to pay a fixed deposit. Those willing (and able) to pay S$10,000 as collateral can receive a waiver for lack of credit history. This waiver is later returned, but will not earn interest in the meantime. Returning to rewards, HSBC Revolution Card is by far the best on the market for local social & online spenders. Cardholders earn 2 miles per S$1 on local dining & entertainment, as well as for online spend (including travel bookings and bill pay). There’s no minimum spend requirement and no rewards cap, so earning is fairly easy and straightforward. In addition, the S$160.5 fee is waived with S$12,500 annual spend, making the card quite affordable. Overall, if you don’t have credit history but can afford to pay a fixed deposit, HSBC Revolution Card offers the best way to earn miles. Read Our Full Review Overview of Card Details
Overview of Card Details
Best No-Fee Cashback for Medical, Transport & Dining: CIMB Platinum MasterCardConsider this if you want a specialised rebate credit card for health, transport and dining Read Review more details less details
Promotions: If you can afford to pay a S$10,000 fixed deposit as a credit waiver (returned later), CIMB Platinum MasterCard is an excellent choice for a first-time credit card. Cardholders earn at top market rates of 10% cashback on a variety of categories, including medical, transport & petrol, dining, travel spend in foreign currency and transactions with select electronics & furnishings vendors. While there’s an S$800 minimum spend requirement, cardholders can earn up to an incredible S$100/month–or up to S$1,200/year. Other perks include eCommerce Purchase Protection, and the credit card is free forever. Read Our Full Review Overview of Card Details
Overview of Card Details
Best Cards with S$500 Credit Limits for those with No Credit HistoryMany credit cards with S$500 credit limits waive, or do not require, established credit history. The following cards are great options available to young working adults. Best Cash Back Card for No Credit History: CIMB AWSM CardConsider this if you earn S$18,000 and S$30,000 per year and are below the age of 35 Read Review more details less details
If you’re looking for your first credit card, you should definitely consider CIMB AWSM Card. In order to qualify, you must either be a student or a salaried employee earning at least S$18,000, if younger than 35 years old. This is fairly reasonable for most first-timers with no credit history. Cardholders earn 1% rebate on dining, entertainment, online & telco with no minimum spend and no cap on earnings. This rate is great because it covers key spend categories for many young adults, and is also 4x the rebate offered by some alternatives. You may also be interested in CIMB AWSM Card for its convenience, affordability and perks. Cardholders can ‘tap & go’ to pay for bus and train rides. They also have access to exclusive MasterCard privileges and CIMB Deals & Discounts, which offer specials throughout SE Asia. Finally, CIMB AWSM Card is free forever. If you have no credit history and want a starter credit card, there’s no better option. Read Our Full Review Overview of Card Details
Overview of Card Details
Best Flat Rebate Card for No Credit History: Standard Chartered Manhattan S$500 CardConsider this if you want an easy-to-use flat rebate card Read Review more details less details
Standard Chartered Manhattan S$500 Card is worth considering if you don’t have any credit history, and don’t want to pay a big fixed deposit to earn a waiver. Consumers must be students, or low income working adults earning at least S$18,000/year. This is one of the only cards available to employees at this salary level. Cardholders earn 0.25% flat rebate on all spend. While this rebate rate is fairly low, SC Manhattan S$500 Card is great for new starters. There are no categories or merchants to track; all spend earns rewards. There’s a S$32.1 annual fee, which is quite low and waived 1 year. Overall, if you want an easy-to-use rebate credit card to build credit, consider SC Manhattan S$500 Card. Read Our Full Review Overview of Card Details
Overview of Card Details
No-Fee Card w/ Credit Waiver & Rebates on Electives: CIMB Visa Signature CardPROMO: Qualified customers can get up to S$188^ cashback Apply Now Apply Now Consider this if you want a no-fee credit card for beauty, online fashion & more Read Review more details less details
CIMB Visa Signature Card is worth considering as a first-time card, though consumers must pay a S$10,000 fixed deposit as a credit waiver (which is returned later). This deposit, however, may very well be worth it–cardholders earn a market-topping 10% cashback on groceries, online shopping, beauty, petcare and cruises, up to S$100/month. It’s worth mentioning that there’s an S$800 minimum requirement, so low spenders may not be a great match. However, cardholders also enjoy great perks–like free travel insurance–and the credit card is free forever. Read Our Full Review Overview of Card Details
Overview of Card Details
Summary of Best Credit Cards for No Credit History 2023Below, we've prepared a summary of our picks for the best credit cards for no credit history in 2023. CardBest for...Annual FeeHSBC RevolutionSocial & Online SpendS$160.5 (waiver) Apply Now CIMB Platinum MasterCardMedical, Transport & DiningS$0.0CardBest for...Annual Fee Apply Now HSBC RevolutionSocial & Online SpendS$160.5 (waiver)CIMB Platinum MasterCardMedical, Transport & DiningS$0.0Compare the Best Credit Cards for No Credit History by Dollar ValueThe graph below represents the approximate value-to-consumer (in SGD) of the best credit cards for those with no credit history in Singapore. Dollar values are calculated based on approximate rewards earned with a S$2,000 monthly spend for 2 years. This number varies, however, depending on individual spending habits. Best Credit Cards for No Credit History in Singapore by Estimated 2-Year Dollar Value Additional Resources
Zoryana Melesh Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting. Our Top Credit Cards for Young Adults
Keep up with our news and analysis. Stay up to date. Subscribe{"endpoint":"\/newsletter\/subscribe","style":"blue","title":"Keep up with our news and analysis.","version":"sidebar"} Can you get a credit card if your score is low?There are many credit cards specifically designed for people with poor credit. Some of these cards are secured credit cards, but others are standard credit cards that you'll be able to access without having to put down a security deposit.
What is the lowest credit score for a credit card?There is no minimum credit score needed for a credit card. Even borrowers with poor credit (a score of 300) or no credit card at all can qualify for some credit cards. However, options for bad-credit borrowers are limited and usually come with a high annual percentage rate (APR) and fees.
How can I get a credit card with a score of 500?Credit cards you can get with a 500 credit score. Capital One Platinum Secured Credit Card: No credit history. ... . Petal 1 “No Annual Fee” Visa: No credit history. ... . Discover it Secured: No credit history. ... . Petal 2 “Cash Back, No Fees” Visa: No credit history. ... . Mission Lane Visa: Bad to fair (300-670). Which bank gives credit card easily?1. HDFC Bank instant approval credit card. HDFC Bank credit cards are not only 100% secure, but they also provide instant activation and ownership. here, a potential customer is taken to the end-to-end instant digital application page wherein the issuance happens at a single click.
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How to get credit card with low credit score
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