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130923_ Best $500 Credit Card in Singapore 2023 For Students, NSFs, Lower-income & Unemployed

Best $500 Credit Card For NSFs, Students And Non-Working Adults

profileJacqueline Yan

Source: Giphy

Y’know, I wish I knew about credit cards when I was still schooling because I can get to save some money.

Besides paying for an expensive university degree, we often hear things about credit card debts and whatnot, and I belonged to the group of people who were fearful of credit cards.

Do you know you can also apply for a credit card even without an income?

Having a credit card is extremely beneficial to a student as you will be able to earn cashback, cash rebates, or even use it for overseas exchange?

Let’s find out!


TL;DR: Best $500 Credit Cards For Students, NSFs, Lower Income & Non-Working Adults

Credit CardsCredit LimitFeaturesBest ForOngoing Promotion
BOC F1RST Card$5000.5% cash rebateRetail spending-
CIMB AWSM Card

Apply Now
$500Unlimited 1% cashback on Dining & Entertainment, Online Shopping & All Things TelcoDining & Entertainment, Online Shopping & All Things TelcoGet $30 eCapitavouchers when you apply for your first CIMB AWSM card and spend S$100.

Valid till 1 Oct 2023.
Citi Clear Card$5001X ThankYou Reward Point for every S$1 spent. Points can be redeemed to for miles (0.4 mpd), cash rebates, vouchers and deals Online fashion, lifestyle, and travel exclusives-
DBS Live Fresh Student Card$500Up to 5% cashback with eligible merchants

Up to 5% cashback with eco-merchants

Up to 0.3% on All Other Spends
Spotify, Golden Village, McDonald's/McDelivery, Netflix, Starbucks-
Maybank eVibes Card$5001% cashback on all retail spendsRetail spending-
OCBC Frank Debit Card-1% unlimited cash rebate on all eligible transactionsOnline shopping
Taobao, SHEIN, Lazada

Convenience stores Cheers, 7-Eleven

Transport
Comfort and CityCab, Go-Jek, Grab, Ta-da, SimplyGo, SBS Transit

Drinking
Zouk, Harry's, Stickies, Cash Studio

Eco-friendly merchants
BluSG, Scoop Wholefoods, Ugly Food & more
-

Click here to jump:


BOC F1RST Card

Eligibility Students Working Adults
Nationality Singapore Citizens, Permanent Residents, or Foreigners Singapore Citizens, Permanent Residents
Age 18 & above 21 and above
Minimum Annual Income Requirement NIL

*Applicants under 21 years old require the consent of their Parent/Legal Guardian

$18,000
Bank Status Must not be an existing Bank of China Principal Credit Cardmember
Credit Limit S$500
Features 0.5% cash rebate on the total monthly statement of account
Min. Spend NIL
Annual Fees $205.20 (incl. GST), first 2 years waived
Annual Fee waiver First 2 years
Min. Monthly Payment 3% of the monthly balance outstanding, plus any outstanding Minimum Payment Sum, plus the amount in excess of the Credit Limit, or ^¥/S$50, whichever is greater
Best For Across all categories

The BOC F1RST Card by the Bank of China is applicable to all Singaporeans, Singapore PR, and foreign students aged 18 and above, and there’s no minimum income requirement for students!

For those who are into cash rebates, this card offers a 0.5% cash rebate for the total amount billed in your monthly statement, at a credit limit of S$500.

It’s also good for you if you do not hit the regular income requirement for the other awesome credit cards as you just need to earn S$18,000 per year to qualify for this card as a working adult.

Once you’ve applied for this card, you can rest assured that you will not be required to pay any annual fees for the first two years.

I know it doesn’t look very impressive…

With a 0.5% cash rebate and a $500 credit limit, the maximum you can get per month is $2.50.

But since it’s applicable to all spending, at least you don’t have to monitor which category you’re spending on.

You’ll also soon notice that the BOC F1RST Card is one of the two student cards available for foreign students. Sorry guys, y’all don’t have that many options to choose from.

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CIMB AWSM Card

 

Eligibility Students / NSFs Working Adults
Nationality Singapore Citizen or Permanent Resident
Age 18 – 29 years old 18 and above
Minimum Annual Income Requirement NIL

*Applicants under 21 years old require the consent of their Parent/Legal Guardian

  • For ages below 35: S$18,000
  • For ages 35 and above: S$30,000
Bank Status Must not be an existing CIMB Principal Credit Cardmember
Credit Limit S$500
Features Unlimited 1% cashback on Dining & Entertainment, Online Shopping & All Things Telco
Min. Spend
Annual Fees
Min. Monthly Payment 3% of the outstanding balance or S$15, whichever is higher, plus any outstanding overdue amount from the previous statement
Promotion Get $30 eCapitavouchers when you apply for your first CIMB AWSM card and spend S$100. Valid till 1 Oct 2023.
Sign Up Now Apply Now

Did you know… AWSM stands for AWESOME?

But hey, the CIMB AWSM Card is really a pretty awesome card given that there’s no minimum income requirement for students!

NSFs can apply for this card too, we didn’t forget about you!

Similarly, if you are a working adult below the age of 29 and you’re unable to apply for the more popular credit cards due to your annual income, this will be helpful!

Whew, 1% cashback on the major categories that you’ll spend very often!

If you’re on a SIM Only plan, just take note that the current participating telcos are Singtel, M1, Starhub, Circles.Life and MyRepublic.

There are over 1,000 CIMB Deals & Discounts across dining, retail, and lifestyle outlets in Singapore, Malaysia, and Indonesia!

It might not look like much if you compare it to the best cashback cards, but hey, you’ll never have to pay an annual fee for this card!

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Citi Clear Card

 

Eligibility Students
Nationality Singapore Citizens, Permanent Residents, or Foreigners
Age 18 & above
Schools NTU, NUS, SMU, SIM, SUTD, SIT, SUSS, University of Chicago Booth School of Business, DigiPen, ESSEC, GIST-TUM Asia, INSEAD, S P Jain, Tisch, UNLV, Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic, Temasek Polytechnic, LASALLE-SIA, NAFA, EDHEC-Risk Institute and Sorbonne-Assas International Law School
Minimum Annual Income Requirement NIL

*Applicants under 21 years old require the consent of their Parent/Legal Guardian

Bank Status Not an existing primary / basic Citi Credit Card / Citibank Ready Credit customers (supplementary Cardmembers are eligible)
Credit Limit S$500
Features 1X ThankYou Point for every S$1 spent (0.4 mpd)
Min. Spend NIL
Annual Fees S$30.52 inclusive of 9% GST (First Year waived)
Min. Monthly Payment Full payment of card balance specified in the statement of account
Best For Online fashion, lifestyle, and travel exclusives

The Citi Clear Card is probably the best card if you are concerned about the income requirement because there’s none, even for working adults!

Plus, if you’re not studying in mainstream educational institutions, don’t worry, Citi Clear Card is here for you.

You can start chasing miles with this card by earning a 1X ThankYou Point for every S$1 spent (0.4 mpd) across online fashion, lifestyle, and travel exclusives at your favourite online brands.

For a more detailed look at the qualifying spends, refer to the exclusions list of Merchant Category Codes.

Have fun spending and accumulating points for a good life!

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DBS Live Fresh Student Card

 

Eligibility Students
Nationality Singapore Citizen or Permanent Resident
Age 21 – 27 years old
Schools National University of Singapore (NUS), Nanyang Technological University (NTU), Singapore Management University (SMU), Singapore Institute of Management (SIM), Singapore University of Technology and Design (SUTD), Singapore Institute of Technology (SIT), Singapore University of Social Sciences (SUSS), Nanyang Polytechnic (NYP), Ngee Ann Polytechnic (NP), Temasek Polytechnic (TP), Singapore Polytechnic (SP) or Republic Polytechnic (RP)
Minimum Annual Income Requirement NIL
Bank Status Not have an existing DBS/POSB Credit Card and/or other unsecured facilities with DBS/POSB
Credit Limit $500
Features S$15 on eligible Merchant Spend

S$15 on eligible Sustainable Spend

S$20 on All Other Spend for each calendar month

Min. Spend NIL
Annual Fees S$196.20, first 5 years waived
Min. Monthly Payment 3% of the statement balance (or S$50, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit.
Best For Spotify, Golden Village, McDonald’s/McDelivery, Netflix, Starbucks
Sign Up Now

DBS Live Fresh Student is a card that most students are familiar with.

The card is known for its cashback as students can earn up to 5% from shopping PLUS an additional 5% green cashback when they use the card on selected eco-eateries, retailers, and transport services!

This means that you can easily earn the green cashback you’re using the card when taking public transport in Singapore.

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Maybank eVibes Card

Eligibility
Nationality Singapore Citizen or Permanent Resident
Age 18 to 30 years old
Schools LASALLE, NAFA, NIE, NP, NTU, NUS, NYP, RP, SIT, SMU, SP, SUSS, SUTD, TP & SIM
Minimum Annual Income Requirement Must not be earning S$30,000 and above per annum
Bank Status Not be an existing Maybank Principal Credit Cardmember or CreditAble customer
Credit limit $500
Features 1% cashback on all eligible retail transactions
Min. Spend NIL
Annual Fee $5 quarterly service fee, first 2 years waived
Min. Monthly Payment 3% of the statement balance (or S$50, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit
Best For All retail spending

The Maybank eVibes Card is the credit card I wished I had when I was a student…

The number of educational institutions it covers is slightly fewer than the Citi Clear Card, but it’s still good for those not enrolled in local schools.

Hi, NSFs. This one is for you too!

The best part? The quarterly fee of $5 is soooooooo easy to waive, as long as you charge to the card every three months. Also, it’s automatically waived for the first two years.

This is another card that gives you 1% cashback and drumroll please, it’s on all retail spending!

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Bonus: OCBC Frank Debit Card

Though OCBC Frank Debit Card is not a credit card, it’s worth mentioning as it’s targeted at students, full-time National Serviceman (NSFs) and non-full-time working adults.

Eligibility
Nationality

Singapore Citizens, Permanent Residents, or Foreigners

Age

16 – 25 years old

Schools Not specified
Minimum Annual Income Requirement NIL
Bank Status New FRANK Debit Cardmember who has successfully signed up for a FRANK Debit Card
Credit limit
Features 1% unlimited cash rebate on all eligible transactions: Selected online shopping, convenience stores, transport, drinking establishments, and eco-friendly merchants

1% bonus cashback at Apple & Samsung stores till 31 Oct 2023

Min. Spend $400
Annual Fee – 
Min. Monthly Payment
Best For

Online shopping: Taobao, SHEIN, Lazada

Convenience stores: Cheers, 7-Eleven

Transport: Comfort and CityCab, Go-Jek, Grab, Ta-da, SimplyGo, SBS Transit

Drinking establishments: Zouk, Harry’s, Stickies, Cash Studio

Eco-friendly merchants: BluSG, Scoop Wholefoods, Ugly Food & more

OCBC Frank is another contender that frequents schools in Singapore.

The OCBC Frank Debit Card allows you to earn unlimited 1% cashback on selected online shopping, convenience stores, transport, drinking establishments, and eco-friendly merchants!

While most cards have a standard design, you can choose one design out of the 60 designs available!

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Afterthoughts

Now that you’ve caught a glimpse of the #adulting life, spend wisely and pay your credit card bills on time!

Trust me, you’ll thank yourself for cultivating good financial habits from a young age.

Also, remember to check the terms and conditions for the cards as every bank will have exclusions for their cashback or rewards programme.

For any comments or queries regarding credit cards, hop over to Seedly Community to ask away!

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About Jacqueline Yan
Full-time coffee nerd playing the personal finance game to feed her insatiable wanderlust.
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