The Most Exclusive & Prestigious Credit Cards in Singapore

Credit cards have come a long way from their original purpose – which is essentially to enable people to purchase goods sans the cash. Over the years, credit cards have become associated with rewards and particularly miles redemptions – which in turn has led to a breed of miles enthusiasts.

Like most financial products, credit cards come in tiers and there are a number in Singapore reserved for the very few. The most exclusive ones boast of features such as an endless credit limit, elite status in loyalty programmes and even the usage of a personal assistant. Many of the benefits are admittedly travel-oriented. Since there aren’t a whole lot of details about these ultra elite and exclusive credit cards, I decided to compile a list here for reference. An overwhelming majority of us probably won’t qualify but it is free to dream after all.

American Express Centurion Card (Asia-Pacific)

Annual fee: US$ 4,000 (plus one-time joining fee of US$4,000)

Earning Rate (per $): 1 mile

Eligibility: By-invitation (alternatively, bank with one of the private banking partners of American Express Centurion and sign up)

Benefits:

• 180,000 miles upon payment of joining fee and annual fee
• No credit limit
• Priority Pass membership (unlimited visits)
• Instant elite status in hotel loyalty programmes such as IHG (Platinum), Shangri-La Golden Circle (Diamond), Hilton HHonors (Diamond) and SPG (Gold)
• Instant elite status in airline loyalty programmes such as Emirates Skywards (Gold) and Virgin Atlantic Flying Club (Gold)
• American Express lounge access
• Delta Sky Club access
• Eurostar lounge access
• Complimentary meet and greet in 53 destinations when flying First or Business class

The above information applies to the Asia-Pacific version of the American Express Centurion Card which is marketed in Singapore as well. I do know that there is a Singapore-specific version of the card with benefits such as Tower Club membership but I don’t have details of that version of the card at the moment.

The Centurion Card is by far the most exclusive among the credit cards available in Singapore. It is at least double the price (if you consider it along with the joining fee) of the next most expensive one available. You do get more benefits. This card gives you the most number of elite status in loyalty programmes. But is it worth the higher fees? If you’re banking on a million a month, an extra $3,000 to $4,000 in expenses is probably loose change.

Citi Ultima Visa Infinite

Annual fee: $3,888 (before GST)

Eligibility: $5 million assets under management with Citi

Earning Rate (per S$): 1.6 miles for local retail purchases / 2 miles for overseas purchases / 2.5 miles for purchases made with Singapore Airlines, Kris Shop, Silk Air and Tradewinds Tours and Travel

Benefits:

• 150,000 miles upon payment of annual fee
• Priority Pass membership (unlimited visits)
• Complimentary air ticket when booking a full-fare first or business class flight
• Complimentary one night stay with minimum of two nights booked at 900 participating hotels including W Hotels, Park Hyatt, St. Regis and Taj Hotels
• Hilton HHonors Diamond membership
• Complimentary upgrade and breakfast at participating Ritz Carlton and Starwood Luxury properties
• Airport meet and greet for each purchase of a First/Business class ticket
• Airport limousine transfer for each purchase of a First/Business class ticket

The Citi Ultima Visa Infinite is the second most expensive credit card in Singapore today with an annual fee clocking in at over S$4,000 per year. For that, you get Diamond with Hilton Honors which is a notch higher than the “standard” Visa Infinite cards. In addition, you do get a complimentary night (for a minimum hotel booking of 2 nights) in over 900 properties including a number of chain hotels – plus breakfast and a room upgrade which is akin to having elite status. Also, the miles you get for paying the annual fee is quite decent and costs around S$0.027 per mile – cheaper than the other ultra-elite cards.

DBS Insignia

Annual fee: $3,000 (before GST)

Earning Rate (per S$): 1.6 miles for local retail purchases / 2 miles for overseas purchases

Eligibility: $500,000 annual income or $3,000,000 assets under management with DBS

Benefits:

• 100,000 miles upon payment of annual fee
• Priority Pass (unlimited visits)
• Complimentary 2 nights’ stay at selected properties (i.e. YTL Hotels, Anantara, Como, Six Senses, Banyan Tree, etc)
• Hilton HHonors Gold membership
• Fast track immigration within Asia
• Club at the Hyatt membership – up to 50% off on dining
• Access to Damai Spa
• Access to One Degree 15 Marina

HSBC Visa Infinite Card

Annual fee: S$488 (for HSBC Premier customers), else $650

Eligibility: S$120,000 annual income (else, maintain a fixed deposit of S$30,000 with HSBC)

Earning Rate (per S$): Year 1 – 1 mile for local spends / 2 miles for overseas spends; Year 2 onwards – 1.2 mile for local spends / 2.25 miles for overseas spends (applicable with a minimum spend of S$50,000 in a year)

Benefits:

•  35,000 miles upon payment of annual fee
• Priority Pass membership (unlimited visits)
• 1 immigration clearance and airport limousine transfer for every S$2,000 spent (up to 24 times in a year)
• Up to 50% off on dining at restaurants in Singapore Marriott Tang Plaza Hotel
• Complimentary access to ESPA at Resorts World
• Hilton HHonors Gold membership

Standard Chartered Priority Banking Visa Infinite Card

Annual fee: $321

Eligibility: S$200,000 assets under management with Standard Chartered Bank Singapore

Earning Rate (per S$): 1 mile with possibility to earn more miles per month based on banking relationship balance with the bank

Benefits:

• Priority Pass membership (unlimited visits)
• Hilton HHonors Gold membership
• GV Gold Class Infinite at a discount
• Up to 37% off on Auto Europe Car rentals

Not to be confused with another similarly named product called the Standard Chartered Visa Infinite Card, the Priority Banking Visa Infinite Card is open only to Priority Banking and Private Banking clients. Benefits are pretty slim though Standard Chartered has one of the best value Priority Banking programs out there with cheaper online trading commissions.

UOB Reserve Card

Annual fee: S$3,600 (before GST)

Eligibility: S$2,000,000 assets under management with UOB

Earning Rate (per S$): 1.6 miles for local retail purchases / 2 miles for overseas purchases plus bonus of 100,000 miles if you spend at least S$250,000 in a year

Benefits:

• 100,000 miles upon payment of annual fee
• Priority Pass membership (unlimited visits)
• Ability to purchase miles at S$19 per 1,000 miles
• Access to Tower Club and China Club, selected clubs overseas
• Club at the Hyatt membership – up to 50% off on dining
• Hilton HHonors Gold membership
• Access to promotional First/Business class fares

My friend, Mark, wrote that this card actually allows you to purchase miles at S$19 per block of 1,000 miles which is actually not a bad deal. Aside from that, the offerings are pretty much in line with other ultra elite cards – with the notable addition of the Tower Club / China Club access.

UOB Visa Infinite Metal Card

Annual Fee: S$ 642

Eligibility: S$ 150,000 annual income

Earning Rate (per S$): 2 miles for overseas spends  / selected local stores; 1.4 miles for local spends

Benefits:

• 25,000 miles upon payment of annual fee
• Access to Tower Club and China Club in Singapore; selected clubs overseas
• IHG Gourmet Collection membership
• Up to 50% off at Grand Hyatt Singapore restaurants during weekday lunch
• 4 free airport lounge visits with Dragonpass and free lounge pass if your registered flight is delayed more than 2 hours

A cheaper sibling to the UOB Reserve Card, the UOB Visa Infinite Metal has been recently rebranded with an annual fee that is roughly one third of what it used to be. More of a dining/lifestyle card rather than a travel card, some new benefits include a slightly better miles earn rate and Gourmet Collection membership with IHG.