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Citi DIVIDEND Platinum

Before your credit card application can be given further attention, you must meet two conditions of eligibility imposed by the Monetary Authority of Singapore (MAS): age must be at least 21 years; and, annual declared income must be at least S$30,000 for a normal credit card application (at least S$45,000 for gold credit card applications).

The information detailed below will have to be supplied in the credit card application. It is advisable to have the data at hand so you can fill out the application quickly.

• Name in full ( which should match the name in your NRIC or passport)
• Name to appear in the card
• Nationality and home country
• Marital status and number of dependents
• Passport or NRIC (National Registration Identification Card) Number
• Date of birth
• Gender
• Address in Singapore (with specifics of block/house number, street, postal code, etc.)
• Status of residence (e.g. self-owned, rented, etc.) and type (e.g. apartment, HDB, etc.)
• Length of stay at current address
• Preferred billing address (office or residence)
• Contact phone numbers (home; office; handphone)
• Email address
• Level of education
• Name of company/employer
• Nature of business
• Employer’s exact address
• Position or Job Title
• Length of employment
• Monthly salary

Although you have already filled out the online credit card application, the MAS guidelines still require you to submit copies of key documents, as described below (copies of the NRIC should include the front and back sides):

• For salaried employees: NRIC plus either the latest Income Tax Notice of Assessment, or the computerised payslip, or the History Statement on your Central Provident Fund (CPF) contributions. If you compare credit cards’ requirements, some banks require 12 months of CPF history while others require only 6 months.

• For commission-income or variable-income earners: NRIC plus either a 12-month History Statement of CPF contributions or the latest 2-year Income Tax Notice of Assessment.

• For self-employed: NRIC plus the latest 2-year Income tax Notice of Assessment.

• For foreigners and non-permanent residents: Valid passport and employment pass (valid for at least 9 months) plus proofs of income such as the latest Income Tax Notice of Assessment, or the most recent computerised payslip, or a certification from the company regarding employment and salary.

When you compare credit cards’ online application systems, you’ll note that some allow online submission of CPF statements by use of SingPass (Singapore Personal Access). In such cases, the card issuer’s system will provide you a URL address to be linked to the CPF website once you have submitted the online credit card application.

An approval team from your chosen card provider for a card such as the RBS Switch Platinum card proceeds to verify the information in your credit card application before final approval is given. The timing of your submission of supporting documents will determine the processing time. Compare credit cards and you’ll find that some systems can approve credit card applications in 1-3 days (from the time required documents are completed) while others take about two weeks.

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Applying for a Credit Card Online

Timely payments

Payment history and patterns play a critical role in what your credit card points look like. If you have been making partial payments all along and have accumulated heavy interest over the years then chances are you credit card points will not be that good. On the other hand, if you diligently make sure to repay the entire amount spent each month and incur no interest, you credit score will be almost perfect. If you have defaulted against a payment or gone past the due date, then too it can hamper your credit score. Make sure that you repay the credit card amounts within the due date and that you pay off the outstanding amount in full each time you use the card.

Your liabilities

Singapore is a shopper’s paradise. That coupled with the ‘buy now pay later’ approach of credit card companies can set a deadly financial trap for you if you are not careful. If you have a huge amount of liabilities on your existing mortgage, loans and other credit cards, your credit card points will suffer. Make sure to clear off as much of the liabilities as you can to improve your score.

Credit history timelines

If you have had a long business association with the bank, your credit card points are likely to be better than someone with a more recent history with the same bank. Depending on how much credit you have or the types of credit too, it can affect the credit card points you have.

How to improve reward points

A rewards credit card is a great way to save on cash when you shop in Singapore. There are numerous credit card companies like DBS Singapore and others, which have a generous rewards points program. Many of the rewards credit card schemes help you save towards retirement, get access to discounted car deals as well as convert earned miles into restaurant meals or hotel accommodations. You can even use accumulated rewards credit card points towards your next vacation at the best destinations in the world! Since they are so beneficial, here are some ways to get the best rewards credit card scheme:

- Low rates: The lower the interest rate on the card the sooner you can pay off liabilities and earn your rewards. Try to avoid 0% reward credit card offers because the rate after the promotional period is unusually high.

-      Time investment: Any rewards credit card program will take time to materialize. Therefore, be prepared to wait it out before you start seeing points accumulate.

-      Expiry dates: There is typically an expiry date associated with any rewards credit card program. Therefore, make sure you use the accumulated points before the date ends.

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Boosting Credit Card Rating

• Two-year annual fee waiver and free supplementary HSBC Gold Credit Card for life
• Greater savings at Caltex, Cold Storage and Golden Village cinemas
• Amazing dining deals with your HSBC Gold Credit Card
• Exclusive home&Away Privileges
• Apply for HSBC Gold Card online now

* Fund transfer: An upfront processing fee of 2.35% applies. Please note that the prevailing interest rate will apply after the promotion period.

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HSBC Gold Credit Card

• Golfing privileges at home and abroad plus complimentary Golfers’ Insurance
• Greater Visa rewards with HSBC Platinum card
• Earn Rewards points with income tax payments
• Dedicated 24-hour Hotline
• Exclusive privileges at over 1,800 outlets in Singapore and even more overseas with HSBCHSBC Platinum Card Privilege Programme

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HSBC Platinum Card

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HSBC Revolution Credit Card

• Special travel deals
• 24-hour global concierge services, home emergency and vehicle assistance hotline
• Rewards Points are valid for 3 years
• Enjoy 3-year annual fee waiver for yourself and supplementary cardmember
• Complimentary MoneyLine with 1st year annual fee waiver
• Apply for the RBS Personal Card Online Now

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RBS Personal Card

• This is the only platinum card that offers you:
• Lowest rate in town - 11.8% p.a. for first 3 months, then;
• 18% p.a. interest compared to 24% p.a. for most other cards
• No cash advance fee
• No annual subscription fee, ever*
• RBS Switch Platinum Wicked Wednesdays - Singapore Club Rebates
• Exclusive 0% Installment Payment Plan Deal
• Travel discounts and deals
• Apply for RBS Switch Platinum Card Today

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Switch Platinum Card

ADDITIONAL INFORMATION

What are the requirements?
Applicants must be between 21 & 65 years of age
Singapore Citizens & Permanent Residents: Minimum income is $50,000 p.a.
Foreigners: Minimum income is $90,000 p.a.

How much does it cost?
Principal Card: S$240 p.a. (Waived for 1st year)
Supplementary Card: S$60 p.a. (Waived for 1st Supplementary Card)

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RBS Platinum Card