Banks often use attractive welcome rewards to entice consumers to grab a credit card and stand out from the rest of the package. However, before applying for a credit card to receive this reward, the first thing to do is to consider when is the best time for you to get a credit card.
When should you get a new card?
- If you are new to the bank
Being new to the bank is one of the main criteria for being eligible for a credit card sign-up reward. To be classified as a new customer, you must not have owned the bank’s credit card in the last 12 months. This means that fortunately, you don’t have to get just one sign up bonus from the bank in your life.
If you play your cards right, you can enjoy welcome gifts from the same bank every few years. If you are an existing customer, you are not eligible for most of the bank’s welcome promotions. Instead, you can apply for other banks’ credit cards to get the most out of the registration promotions.
- When you have big expenses
Most credit card welcome bonuses require a minimum amount within the first three to six months. It is often between $ 3,000 and $ 6,000.
When you know there’s a big ticket purchase coming up, e.g. B. Home furniture, wedding expenses or multiple travel bookings, you can purchase a new credit card in advance. That way, you can meet spending requirements with ease.
To take part in this promotion, you must be a new Standard Chartered Bank cardholder and activate your new card within the first 30 days of card approval. A minimum spend of $ 200 is also required. If you already have a Standard Chartered Credit Card, you will be rewarded with $ 30 in cash when you sign up through PayNow. The promotion is valid until April 18, 2021. The terms and conditions apply.
List of cards that are eligible for this promotion, here.
Credit card settings also differ based on lifestyle. Some prefer to chase miles while others opt for returns on money in the form of cashback. Here are the credit card welcome offers currently available.
Miles credit cards
For the globetrotters it is natural to have a miles card (or a wallet full of miles cards). Earning miles for all of your expenses can help pay for your next trip (whenever it does). You can even earn a luxury experience by flying your miles in first class.
Here is the miles map you should consider to get a head start on your mileage journey.
| Credit card | Welcome offer | requirement | Important highlights of the card |
| American Express KrisFlyer credit card | Apple AirPods with charging case (worth 239 USD) or 180 USD in cash 5,000 KrisFlyer Miles 1 night at Conrad Centennial Singapore (worth 300 USD ++) 20 USD voucher for the Dairy Farm Group | Apply by April 30, 2021 Spend $ 3,000 in the first three months | 1.1 MPD for Local Spending 3.1 MPD for Grab ($ 200 maximum per month) 12,000 bonus KrisFlyer miles when upgrading to KrisFlyer Ascend credit card Earn 3,000 KrisFlyer miles when you successfully refer a friend |
| American Express KrisFlyer Ascend | S $ 150 Dairy Farm Group Voucher 1 night at the Shangri-La Hotel (worth $ 450 ++) 10,000 KrisFlyer miles S $ 20 Dairy Farm Group voucher |
Spend $ 5,000 in the first three months Minimum. Annual income of $ 50,000. Use until April 30, 2021 |
1.2 mpd for Local Spending 3.2 mpd for Grab ($ 200 maximum per month) Complimentary one night stay at participating Hilton Properties per year, 4 free airport lounge tickets per year |
| Read PremierMiles | 2D1N Stay in Andaz Singapore (worth $ 420 ++) Earn 4 miles for every $ 1 for grocery and home entertainment retailers |
No min.outputs required Apply by April 25, 2021 |
1.2mpd for local spending2 free visits to airport lounges worldwide each yearCiti Miles never expire |
| Citi rewards | Apple Watch SE (worth S $ 419) or S $ 350 through PayNow | Spend $ 200 within 30 days of card approval. Apply by April 15, 2021. | Earn 10X Reward Points (4 miles) for: – Online and retail purchases – Travel on Grab, ComfortDelGro, Gojek, etc. – Online grocery delivery – Online grocery |
| Citi Prestige | Apple Watch SE (valued at $ 419) or $ 350 through PayNow | Spend S $ 200 within 30 days of card approval. Apply by April 15, 2021. | 5 Thank You Points (2 miles) for every US dollar spent abroad 3.25 Thank You Points (1.3 miles) for every US dollar spent locally Unlimited free access to hundreds of Priority Pass airport lounges8 Complimentary one-way airport transfers |
| DBS height | Earn up to 38,000 miles when you apply using the coupon code ALTAF or DBSALT | Spend at least $ 6,000 and pay an annual fee of $ 192.60 within 90 days of card approval | 1.2 MPD for local expenses 3 MPD for online flight and hotel transactions Up to 50 percent more miles for your expenses in the first 3 months for DBS Altitude American Express (does not apply to DBS Altitude Visa) |
| HSBC revolution | Get up to S $ 200 in cashback |
Sign in through SingPass MyInfo and spend $ 500 for the first month after card approval Valid until April 30, 2021 |
10X reward points (4 MPD) for contactless payments and online purchases 1 reward point (0.4 MPD) for all other expenses Enjoy the free ENTERTAINER with HSBC access |
| HSBC Visa Infinite | Earn 35,000 miles and $ 30 cashback | Minimum. Annual income of $ 120,000. Apply online with SingPass MyInfo | 1mpd for local expensesEnjoy free ENTERTAINER with HSBC accessUnlimited access to over 1,100 VIP airport lounges worldwide |
| The American Express® Platinum credit card | Get a $ 100 voucher for the Dairy Farm Group. Get a B&O Beoplay E8 3rd Gen (valued at $ 499) | Spend $ 5,000 in the first three months of cardMin. $ 60 spend required to receive credit at Love Dining merchants. Valid until June 30, 2021 | Earn 2 Membership Rewards points for $ 1.60 each. Up to 50 percent of your grocery bill in over 50 restaurants. Earn 12,000 Membership Rewards® points when you successfully refer a friend |
| Krisflyer UOB | 3,000 Krisflyer miles | Spend at least $ 5 on a single transaction | 1.2 MPD for all expenses. 3 MPD for purchases from Singapore Airlines, SilkAir, Scoot and KrisShop |
| Standard Chartered X Card | Receive 30,000 airline miles by paying the annual fee | Pay $ 695.50 annual fee min. Annual income of $ 80,000 | Apply now and get $ 20 cashback when you apply to Priority Pass lounges around the world each year via MyInfo2 free visits |
If you’re looking to spend nearly $ 5,000 in the next few months, consider the American Express cards. However, if you’re not a huge donor, you can consider the Krisflyer UOB or Citi Rewards card instead.
Cashback credit cards
The most generous welcome gifts are usually offered for mileage cards in the form of miles or award points. However, not everyone is chasing miles, especially given the uncertainty about travel caused by Covid-19. If you’d prefer a cashback credit card, here are some that offer welcome gifts.
| Credit card | Welcome offer | requirement | Important highlights of the card |
| American Express CapitaCard | Up to 192,000 STAR $ ® (worth $ 192 eCapitaVouchers) | Spend $ 2,400 within the first two months of card approval and sign in using SingPass MyInfo |
Earn 15 STAR $ ® for every $ 1 spent in participating CapitaLand malls, up to a maximum of $ 1,200 per calendar month (5,000 STAR $ ® equals a CapitaVoucher of $ 5). Limited Time Offer: Earn 30 STAR $ ® at a participating CapitaLand Mall dealer Earn an additional 50 STAR $ ® when you enter participating retailers in participating CapitaLand malls. Refer a Friend Bonus of $ 20,000 STAR $ ® (worth $ 20 CapitaVouchers) when you refer a friend |
| American Express True Cashback | 3 percent cashback on up to $ 5,000 in the first six months | Additional cashback applies only to the first $ 5,000 spent in the first six months |
1.5 percent cashback on all purchases No minimum spend required and no cashback cap Register to receive an additional 1 percent cashback on all foreign currency spending |
| Citi Cash Back + | Up to $ 225 cashback when you apply through MyInfo on the Citibank website and spend $ 5,000 in the first three months |
Take a min. Spend $ 200 within 30 days of card approval Get 4.5 percent cashback for up to $ 5,000 in the first three months |
1.6 percent cashback on all expenses No minimum expenses required, no upper limit |
| HSBC Advance | Up to $ 200 cashback |
Make a Qualifying Spend to Receive $ 50 Cashback; Spend $ 500 mins to get $ 120 cashback Apply with MyInfo through SingPass to receive $ 30 cashback |
1.5 percent cashback on all purchases (if you spend S $ 2,000 or less) Up to 2.5 percent cashback (if you spend more than $ 2,000) 1 percent bonus cashback if you are a global HSBC Everyday account holder and meet the monthly criteria. Enjoy ENTERTAINER with HSBC discounts |
| OCBC FRANK | Get S $ 50 Cashback |
Make two qualifying transactions by the end of the next month after card approval. The promotion is available to the first 600 new card members who meet the spending requirements |
6 percent cashback for online purchases 6 percent cashback for mobile contactless payments and foreign currency spending Here you can read our review of the revision of the OCBC FRANK |
The American Express True Cashback, Citi Cash Back +, and HSBC Advance cards have competitive deals but act fast as they all end later in the month. The cashback rates of the cards are also not to be despised and could prove to be more valuable than airline miles in this environment.
