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Thursday, October 24, 2013

Can S Pass Holders Get a Credit Card in Singapore?

My phone rang twice with a number that was not listed in my phonebook.  Then I answered, she called me to offer a credit card.   She emphasized that I was referred to her by my boss.

I remembered that I've asked my boss if he has a friend who is a credit card agent.  Told him to contact me if ever.

So, I thought that this might be it.  I told her to call me back for an hour because I'm still busy with my work.

After 2 hours, she called me back with a sweet voice and offered me the Standard Chartered Bank Credit Card.  This is what I've been waiting for...

Before I continue my story, I'll tell you first why I needed a credit card here in Singapore.

Why I Badly Needed a Credit Card Here in Singapore?
My salary is in Singapore dollars and obviously, every item that I buy here is in S$ too.  Just for the record, I already have a credit card that is issued in the Philippines. 

Once I buy something, an air ticket for example, in Singapore dollar currency here in Singapore, it will be billed to my Philippine Credit Card. 

In my billing statement,  the Philippine Credit Card company will convert the amount from Singapore Dollars to Philippine Peso, with a mark up of around ~P2.00 per S$.

Lets say I bought S$200 for my air ticket, and the exchange rate of peso to dollar is P34.00/S$1.00.   It will be converted to an exchange rate of P36.00/ S$1.00 at my credit card.  That means I have to pay P6,800 instead of P6,400.

Now, if I have a credit card in Singapore, I'll pay for it at the amount of S$200.  This will save me a  P2.00 or P400 for the same transaction.

The other perks that I like most from the credit card in Singapore, same as in Philippines, is that I can also have points to claim as reward items later on.

Did the Standard Chartered Bank Approved my Credit Card?
Back to my story,  she asked me if I was interested on availing their Credit Card.  I told her a big YES...

The next question is, are you a Singaporean?  I told her that I'm only holding an S PASS.  Her voice changed and told me,

"Sorry, we don't give credit cards to SPASS holders." She didn't explained why and so I said it's OK!

It's so sad to know that SPASS have no chance to get a Standard Chartered credit card.  I feel so down and hopeless at that moment.

To What Bank Did I Applied a Credit Card Next?
So desperate about the result with my credit card application from the Standard Chartered, I went online and logged in to my POSB account.

POSB offers credit cards also and it is a DBS Credit Card.  I tried to click the apply online at my POSB online banking and submitted the required documents.

After 7 days, they replied with a polite rejection notice.  I was pinned down for the second time and still can't believe how difficult it is for me to get a credit card.

Then a mail was sent to me by DBS asking me to send a Tax Notice from IRAS, this is the equivalent of the BIR's Income Tax Return. 

I mailed the letter together with the documents that they requested.  The mailing is free of charge by the way.

After a week, I checked my email at the POSB online banking and still can see the sparkling rejection notice.  But I was surprised that a new mail came and this time, it's thick.

I thought that it's just a thick rejection letter, until I opened it.  The letter comes with brochures and some promotional stuff.  There is another folded paper and a card was stuck on it.


I just got a new credit card from DBS and so I immediately activated it at my POSB online banking.

Advantages of Having a Credit Card with DBS in Singapore
DBS/POSB is one of the biggest bank in Singapore and there are many of their ATM machines scattered around Singapore.

POSB has an online banking feature where I can pay someone with a POSB account at an instant.  This is what I use when paying my rental, paying someone that I owe, season parking, taxes, etc... too many to mention. 

This is also convenient for those who have DBS credit cards because the billing can be viewed online and can be paid directly from the POSB online banking.  I LOVE DBS!!!

Other Posts:
How Heavy is the Rain in Singapore
How to Find the Hawker Locations in Singapore
Discover the 2013 World's Best Airport
How to Save For Your Food and Drinks In-Flight to Singapore


  1. Is there a required annual income for applying credit cards? :)

    1. Hi Berna, DBS/POSB requires S$45,000 and above annual income for foreigners. I think it's also applicable with other credit card companies.

      S$30,000 and above per annum (Singaporean)
      S$45,000 and above per annum (Foreigner)

  2. The time you applied for the Credit card, ur annual income range to S$45k and up?.. how about for S$40k/annum?.. Do you think they will approved my application if ever I applied?..

    1. Yes, my salary when I applied in Standard Chartered Bank is the same when in DBS/POSB, but, I don't know why Standard Chart just rejected me without asking my salary information. They just based it on my SPass status.

      Just try to apply, there's no harm in trying. Try the DBS/POSB online application. Login to your POSB ibanking.

    2. If your annual income was S$45K, then you were an E-Pass holder, not S-Pass?

    3. I was an EPass holder before and was downgraded to SPass. It's from the MOM decision.

  3. Damn it.. We hav no way of applying a credit card since my annual salary is below 30000 even I'm holding a s pass...can u give a suggestion??

  4. This comment has been removed by the author.

    1. I applied for the Everyday Platinum, sorry I forgot the details of it.

  5. This comment has been removed by a blog administrator.

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