Overview:
Students who need to pay for unexpected or upcoming costs related to school can benefit greatly from credit cards. Typically student-friendly credit cards typically have much lower fees, offer fewer rewards, and have lower credit limits than other credit cards.
In general, you may need to submit documentation of your enrollment and proof of income when applying for credit cards as a student. Such proof may come from a part-time job or your allowance given to you by your parents. Some might also need approval from a co-signer, like parents or guardians for the credit card to be approved
Here are some of the Best Cards for Students:
Card | Earn Rate | Cashback Cap |
 DBS Live Fresh Student Card | 5% on eligible merchants; 5% on sustainable spends like Bus/MRT rides via SimplyGo; 0.3% on all other spends | S$15 - Eligible Spends S$15 - Sustainable Spend S$20 - Other Spends |
 Citi Clear Card | 1 ThankYou point = S$1 | N/A |
1% Cashback | N/A | |
Standard Chartered Manhattan $500 Card | 0.25% cashback on all spend | N/A |
DBS Live Fresh Student Card
Eligibility and Fees:
- Minimum Age: 21 – 27 years old
- Minimum Annual Income: No Income Required
- Annual Fee: S$196.20 (including GST)
-
Be an existing student from 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)
Citi Clear Card
Eligibility and Fees:
- Minimum Age: 18 years old and above (21 years old below must get their parent/guardian’s consent to the application)
- Minimum Annual Income: No Income Required
- Annual Fee: S$29.06, waived for the first year
- Credit Limit: S$500
Requirements:
You are a student from any of the following institutions: 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.
Maybank eVibes Card
Eligibility and Fees:
- Minimum Age: 18 to 30 years old
- Minimum Income: Must not exceed S$30,000
- Annual Fee: S$20
- Credit Limit: S$500
Requirements:
Must be an existing tertiary student or National Service Full-time (NSF) man that are accepted to these institutions: LASALLE, NAFA, NIE, NP, NTU, NUS, NYP, RP, SIT, SMU, SP, SUSS, SUTD & TP
Standard Chartered Manhattan $500 Card
Eligibility and Fees:
- Minimum Age:18 to 32 years old
- Minimum Annual Income: No Income Required
- Annual Fee: S$32.10, waived for the first year
- Credit Limit: S$500
Conclusion:
If I were a student who regularly take public transport and i have no student concession pass, I would go for DBS Live Fresh Student Card as my go-to card for bus and mrt rides via SimplyGo. Then for all other general spending, I would probably go for the Maybank eVibes Card as it is the only card that allows me to earn 1% cashback on my school fees payments on this card. You may refer to my Maybank eVibes Card Review which i feel has a compelling proposition for students who are unable to own other credit cards that require a minimum 30K annual income.
An Alternate Strategy that you can consider: Savings Account + Debit Card to Maximise Interest on Savings
Standard Chartered Jumpstart Account
This is a great choice for students because it doesn’t require a minimum balance and it has no fees making it a stress-free way to manage their finances. Also, it offers a higher interest rate, allowing students to earn a bit extra on their saved money, plus, you get a cashback for your debit card spends! That’s a whooping 2% on your savings + 1% on your eligible debit card spend. However, you will not be able to earn 1% on your school fees payment as it is excluded for this card.
Requirement:
- between 18 years old and 26 years old
Benefits:
Account balance in your JumpStart Account | Prevailing Interest Rate |
First S$50,000 | 2.00% p.a |
Any incremental balances above S$50,000 | 0.10% p.a |
- 1% cashback on eligible debit card spends
- No minimum deposit
- No requirement for salary crediting
- No minimum spends or fees for Cashback debit card
Standard Chartered Jumpstart Account Sign Up Promotion:
Receive a S$30 Cashback (with code: “DBF6F”) within 30 days of opening a Jumpstart account
💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
