Best cards in Singapore for Contactless spending

Unlike the overcrowded online spending category, there are only 2 noteworthy cards in the Contactless spending category.

In this article, I will put them head to head, rank them and explain my choice.

Reminder for newbies

If you are new to miles accumulation, do not make the mistake that most newbies make.

If you just want to use one card for all your spending, there is no better card than HSBC Revolution.

It is almost pointless to pick 1 “general spending” card (like UOB PRVI Miles, DBS Altitude and Citi PremierMiles) that earns only 1.4 or 1.2 MPD on everything. You will be earning miles three times slower!

When you are ready to have more cards, pick from our list of the best cards in Singapore.

Why is the Contactless category important?

A large majority of physical stores in Singapore accept contactless payments. It is actually getting very hard to find stores that accept credit cards but not contactless payments.

For that reason, it can be seen as a “general spending” card for everyone who spends under $2,000 in-stores monthly.

Ranking the best credit cards for Contactless payments

2) UOB Preferred Platinum

UOB Preferred Platinum has been the undisputed king of contactless payments for many years now. But it is not perfect.

The good
+ Wide list of eligible merchants.

The bad
– Earn miles only in $5 blocks. This means that you will not get any miles if your total payment is under $5. Because of this $5 block, spending $5 or $9.90 in one receipt will earn you the same amount of miles.
– You will not earn any miles from major SMART$ merchants like: BreadTalk, Cold Storage, Giant, Cathay Cineplexes and Shell.
– Contactless payments have to be made via mobile device (Apple Pay, Google Pay) to qualify for 4 MPD.

UOB Preferred Platinum Card

Suitesmile card rating:

Sign-up bonus

–

more infoNo sign-up bonus at the moment.

Key benefit

Earn 4 miles per dollar
for contactless spending

more infoEarn 10 UNI$ per $5 block (equivalent to 4 MPD) on contactless payments with a mobile device (Apple Pay/Google Pay) for your first $1,000 every month. However, you will not earn miles at UOB$ merchants like Cold Storage, Giant and Cathay Cineplexes. This card also offers the same earn rate for some online spending (Lazada, Amazon, food delivery etc.). No minimum spend required.

Annual fee

$192.60
(first year waived)

more infoAnnual fee is automatically waived for the first year. Ask for an annual fee waiver every year after that. We do not recommend paying for this card's annual fee as there are other credit cards offering similar benefits. If fee waiver request is not granted, we suggest that you transfer out your points and cancel the card.

Min. Income
requirement

$30,000/yr

more infoYou will have to submit prove of income during the application process.

Apply now

Why we like this card

We recommend this card as a backup card for contactless spending. Keep in mind that you will not earn miles at UOB$ merchants.

1) HSBC Revolution

HSBC Revolution is attempting a revolution with their announcement earlier this month to remove annual fees from this card and awarding 4 MPD for Contactless and Online spending. This improvement will kick-start on 1 August 2020.

HSBC is also running a promotion offering a Samsonite luggage (worth $670) for new cardholders who spend a minimum of $800 within the first month.

The good
+ Earn miles for every dollar.
+ No annual fees.
+ Option to earn cashback instead of miles.

The bad
– Only merchants from certain categories will qualify. They are travel/hotels, retail stores, supermarkets, dining and taxi. This means that you will not receive 4 MPD in massage parlours, cinemas, hair/nail salons, telco shops and petrol stations.

HSBC Revolution Card

Suitesmile card rating:

Sign-up bonus
(choose one)

$200 cashback,
Samsonite luggage

more infoChoose to receive $200 cashback or a Samsonite Prestige 69cm Spinner luggage (worth $670) when you successfully apply as a new credit card customer of HSBC.

To receive the sign-up bonus, a minimum spend of $500 is required by the end of the following calendar month, after card approval.

Existing HSBC cardholders (with cards issued more than 12 months ago) will receive $50 cashback after meeting the same minimum spend.

Key benefit

Earn 4 miles per dollar
or 2.5% cashback
for contactless and online

more infoEarn 10 points per dollar (equivalent to 4 MPD) on most contactless and online spending (travel, groceries, dining, shopping) for your first $1,000 every month. No minimum spend required.

Annual fee

No annual fee

more infoThis card does not have an annual fee.

Min. Income
requirement

$30,000/yr

more infoYou will have to submit prove of income during the application process.

Apply now

Why we like this card

We see the HSBC Revolution as the best credit card in Singapore as it offers a great earn rate of 4 MPD for key spending categories, has a decent cashback option, does not have a minimum spending requirement and does not have an annual fee to worry about!

Conclusion

While HSBC Revolution has more exclusions, I see it as a slightly better card for contactless payments because of the following personal reasons:

1. No annual fees to worry about.
2. Earn miles for every dollar instead of $5 blocks. For example, buying a $2 drink at Cheers will give me 8 miles.
3. Earn 4 MPD at Giant and Cold Storage.
4. When making payment while dining out, I can simply pass my card to the waiter and let them know that I want it to be a contactless payment (PayWave). If I am using the UOB Preferred Platinum, I would have to pass my mobile phone to the waiter, make the payment myself at the cashier or hope that the restaurant has a wireless payment terminal.

If I have to choose one card, it would be HSBC Revolution. But I don’t have to choose one. I am keeping the UOB Preferred Platinum digitally in my phone for those rare trips to HSBC Revolution-excluded merchants.