If you’re a frequent traveller or a big spender, you might be interested in getting a metal credit card. These premium cards are made of metal, which gives them a luxurious feel and a certain status symbol. In Singapore, several banks offer metal credit cards, each with its own set of rewards and privileges. But how do you qualify for a metal credit card in Singapore?
To qualify for a metal credit card in Singapore, you typically need to have a high income and good credit score. The eligibility criteria vary depending on the bank and the type of card you’re applying for. Some metal credit cards require you to have an annual income of at least S$120,000, while others require S$150,000 or more. You may also need to have a good credit history and a low debt-to-income ratio.
If you meet the eligibility criteria, you can apply for a metal credit card at your preferred bank. The application process is similar to that of a regular credit card, but you may need to provide additional documents to prove your income and creditworthiness. Once your application is approved, you’ll receive your metal credit card, which you can use to make purchases and earn rewards.
Key Takeaways
- To qualify for a metal credit card in Singapore, you typically need to have a high income and good credit score.
- The eligibility criteria vary depending on the bank and the type of card you’re applying for.
- If you meet the eligibility criteria, you can apply for a metal credit card at your preferred bank.
Understanding Metal Credit Cards
If you are looking for a credit card that offers more than just a status symbol, you may want to consider a metal credit card. These cards are made of metal, usually stainless steel, and offer unique features and benefits that set them apart from traditional plastic credit cards.
Distinctive Features of Metal Cards
One of the most distinctive features of metal credit cards is their weight and durability. Unlike plastic cards, metal credit cards are heavier and more durable, making them less likely to break or wear out over time. Additionally, metal credit cards often have a unique design or texture that adds to their visual appeal.
Another feature that sets metal credit cards apart is their exclusivity. Many metal credit cards are invitation-only, meaning that you must meet certain criteria to qualify for one. This exclusivity adds to the prestige of owning a metal credit card and can make them highly sought after.
Benefits of Using a Metal Credit Card
In addition to their distinctive features, metal credit cards offer a range of benefits that make them a popular choice among credit card users. These benefits can include:
- Higher credit limits: Metal credit cards often come with higher credit limits than traditional credit cards, allowing you to make larger purchases or take out larger loans.
- Enhanced rewards: Many metal credit cards offer enhanced rewards programs, giving you more points or cash back for your purchases.
- Concierge services: Some metal credit cards offer concierge services, providing you with access to a range of exclusive benefits and services.
- Travel perks: Metal credit cards often come with a range of travel perks, such as airport lounge access, travel insurance, and free checked bags.
Metal vs Plastic: A Comparison
While metal credit cards offer a range of benefits and features that set them apart from traditional plastic credit cards, they also come with some drawbacks. For example, metal credit cards often come with higher annual fees and interest rates than plastic cards. Additionally, metal credit cards may not be as widely accepted as plastic cards, particularly outside of major cities.
Overall, whether a metal credit card is right for you will depend on your individual needs and preferences. If you are looking for a credit card that offers unique features and benefits, a metal credit card may be worth considering. However, if you are more concerned about low fees and wide acceptance, a traditional plastic credit card may be a better choice for you.
Eligibility Criteria for Metal Credit Cards
If you are interested in getting a metal credit card in Singapore, there are a few things you should know about the eligibility criteria. Here are some of the most important factors that you should keep in mind.
Income Requirements
One of the most important factors that lenders will consider when you apply for a metal credit card is your income. In general, you will need to have a high income to qualify for one of these cards. The exact income requirements will vary depending on the lender, but you can expect to need to earn a significant amount each month.
Credit Score Considerations
Another important factor that lenders will consider when you apply for a metal credit card is your credit score. Your credit score is a measure of your creditworthiness, and it is based on your credit history. If you have a good credit score, you are more likely to be approved for a metal credit card.
Other Qualifying Factors
In addition to your income and credit score, there are other factors that lenders may consider when you apply for a metal credit card. For example, some lenders may require you to have a certain level of assets under management, or they may require you to have a minimum spending requirement.
It is also worth noting that metal credit cards often come with higher annual fees than traditional credit cards. Before you apply for one of these cards, you should make sure that you are comfortable paying these fees and that you will be able to use the card to its full potential.
Overall, if you are interested in getting a metal credit card in Singapore, you will need to meet certain eligibility criteria. By understanding these criteria, you can determine whether you are likely to qualify for one of these cards and whether it makes sense for your financial situation.
Top Metal Credit Cards in Singapore
Metal credit cards are a symbol of prestige and luxury. They offer a range of exclusive benefits and perks, including access to airport lounges, concierge services, and travel rewards. If you are looking to upgrade your credit card to a metal one, here are some of the top options available in Singapore.
OCBC Voyage Card
The OCBC Voyage Card is a popular metal credit card that offers a range of benefits for frequent travellers. With this card, you can earn Voyage Miles that can be redeemed for flights, hotel stays, and other travel-related expenses. You can also enjoy access to airport lounges, concierge services, and other exclusive perks. To qualify for this card, you need to have an annual income of at least SGD 120,000.
DBS Insignia Visa Infinite Card
The DBS Insignia Visa Infinite Card is a premium metal credit card that offers a wide range of benefits for high net worth individuals. With this card, you can earn DBS Points that can be redeemed for travel, shopping, and dining rewards. You can also enjoy exclusive perks such as access to airport lounges, concierge services, and travel insurance. To qualify for this card, you need to have an annual income of at least SGD 500,000.
UOB Visa Infinite Metal Card
The UOB Visa Infinite Metal Card is another popular metal credit card that offers a range of benefits for frequent travellers. With this card, you can earn UNI$ that can be redeemed for travel, shopping, and dining rewards. You can also enjoy exclusive perks such as access to airport lounges, concierge services, and travel insurance. To qualify for this card, you need to have an annual income of at least SGD 150,000.
Citi Ultima Card
The Citi Ultima Card is a premium metal credit card that offers a wide range of benefits for high net worth individuals. With this card, you can earn Citi Miles that can be redeemed for flights, hotel stays, and other travel-related expenses. You can also enjoy exclusive perks such as access to airport lounges, concierge services, and travel insurance. To qualify for this card, you need to have an annual income of at least SGD 500,000.
American Express Centurion Card
The American Express Centurion Card is the ultimate metal credit card for high net worth individuals. With this card, you can enjoy unlimited access to airport lounges, elite hotel privileges, and other exclusive perks. You can also earn Membership Rewards points that can be redeemed for travel, shopping, and dining rewards. To qualify for this card, you need to be invited by American Express and have a minimum net worth of SGD 5 million.
Overall, these are some of the top metal credit cards available in Singapore. Each card offers a range of unique benefits and perks, so it is important to choose the one that best fits your lifestyle and needs.
Evaluating Costs and Fees
When considering a metal credit card, it’s important to evaluate the costs and fees associated with the card. Here are some key factors to keep in mind:
Annual Fees and Waivers
Most metal credit cards in Singapore come with an annual fee, which can range from a few hundred dollars to over a thousand dollars. However, some cards offer a waiver of the annual fee for the first year or for subsequent years if you meet certain spending requirements.
For example, the Citi Prestige Card has an annual fee of S$535, but it offers a waiver of the fee for the first year. Additionally, if you spend at least S$12,000 on your card each year, you can enjoy a waiver of the annual fee for the following year.
It’s important to consider whether the benefits of the card outweigh the annual fee, and whether you can meet the spending requirements to enjoy a waiver of the fee.
Additional Charges and Penalties
In addition to the annual fee, there may be other charges and penalties associated with your metal credit card. For example, you may be charged a late payment fee if you do not make your minimum payment on time, or a cash advance fee if you withdraw cash using your credit card.
It’s important to read the terms and conditions of the card carefully to understand these charges and penalties, and to avoid them wherever possible. For example, you can avoid cash advance fees by using your debit card to withdraw cash instead.
By evaluating the costs and fees associated with a metal credit card, you can make an informed decision about whether the card is right for you. Keep in mind that the benefits of the card should outweigh the costs, and that it’s important to use the card responsibly to avoid additional charges and penalties.
Rewards and Privileges
When it comes to metal credit cards in Singapore, the rewards and privileges are some of the most exciting aspects. Here are some of the most common rewards and privileges that you can expect when you qualify for a metal credit card.
Travel Perks and Insurance
One of the most exciting perks of a metal credit card is the travel benefits that come with it. Many metal credit cards offer travel insurance, airport lounge access, and even free flights or upgrades. For example, the UOB Visa Infinite Metal Card offers up to 40,000 KrisFlyer miles as part of the membership.
Dining and Hotel Benefits
Dining and hotel benefits are also a common perk of metal credit cards in Singapore. Many metal credit cards offer discounts or complimentary meals at top restaurants, as well as free hotel stays or upgrades. For example, the Standard Chartered Visa Infinite Metal Card offers access to over 1,400 restaurants in 20 countries and up to S$200 in Global Dining Credits.
Exclusive Lifestyle Privileges
Metal credit cards also come with exclusive lifestyle privileges that are not available to regular credit cardholders. These privileges can include access to exclusive events, personal concierge services, and even luxury car rentals. For example, the UOB Visa Infinite Metal Card offers a dedicated concierge service that can help with travel arrangements, dining reservations, and more.
Cashback and Miles Rewards
Finally, many metal credit cards offer cashback or miles rewards for every dollar spent. These rewards can be redeemed for travel, shopping, or even cashback. For example, the Standard Chartered Visa Infinite Metal Card offers up to 2.5 miles per dollar spent on dining and travel, and up to 1.4 miles per dollar spent on all other purchases.
Overall, the rewards and privileges of a metal credit card can be very exciting, but it’s important to remember that these cards often come with high annual fees and spending requirements. Be sure to do your research and choose a card that fits your lifestyle and budget.
Additional Card Features
Metal credit cards come with a host of additional features and perks that can make your life easier and more enjoyable. Here are some of the features you can expect from a metal credit card in Singapore:
Concierge and Assistance Services
With a metal credit card, you can enjoy access to a range of concierge and assistance services that can help you with everything from booking travel to finding a good restaurant. For example, the UOB Travel Concierge service can help you plan your next holiday, while the Medical Concierge service can help you find a doctor or medical facility when you’re abroad.
Golfing and Leisure Activities
Many metal credit cards in Singapore offer golfing and leisure privileges, such as access to exclusive golf clubs and discounts on green fees. For example, the UOB Visa Infinite Metal Card offers complimentary green fees at some of the best golf courses in the region.
Shopping and Retail Advantages
Metal credit cards often come with a range of shopping and retail advantages, such as purchase protection and discounts at selected retailers. For example, the UOB Visa Infinite Metal Card offers eCommerce Purchase Protection, which protects you against fraudulent transactions when you shop online, as well as discounts at selected luxury retailers.
In conclusion, metal credit cards in Singapore come with a range of additional features and perks that can make your life easier and more enjoyable. From concierge and assistance services to golfing and leisure privileges, and shopping and retail advantages, a metal credit card can help you live life to the fullest.
How to Apply for a Metal Credit Card
Now that you know the benefits of owning a metal credit card, you may be wondering how to get one. The application process for a metal credit card is similar to that of a regular credit card. However, there are a few things you should keep in mind before applying.
Firstly, you should make sure that you meet the eligibility criteria for the metal credit card you are interested in. Most metal credit cards require a high income and excellent credit score. Additionally, some metal credit cards may require you to be an existing customer of the bank or financial institution.
Next, you should research the metal credit cards available in Singapore and compare their features and benefits. This will help you choose the right card that suits your travel needs, medical assistance, and lifestyle.
Once you have chosen a metal credit card, you can apply for it online or by visiting the bank or financial institution. The application process usually involves filling out an application form, providing proof of income and identity, and authorizing a credit check.
It is important to note that metal credit cards usually come with high annual fees and other charges. Therefore, you should carefully read the terms and conditions of the card before applying.
In conclusion, applying for a metal credit card is a simple process, but it requires careful consideration and research. By following the above steps, you can increase your chances of getting approved for a metal credit card and enjoy its exclusive benefits.
Frequently Asked Questions
What are the eligibility criteria for the UOB Visa Infinite Metal Card?
To qualify for the UOB Visa Infinite Metal Card, you need to have an annual income of S$350,000 or more. Additionally, you must be a Singapore citizen or permanent resident and at least 21 years old.
Which banks in Singapore offer the most prestigious metal credit cards?
Most major banks in Singapore offer metal credit cards, including DBS, UOB, and Citibank. However, the most prestigious metal credit cards are often by invitation only and offered to high net worth individuals.
What are the requirements to obtain an AMEX metal card in Singapore?
To obtain an AMEX metal card in Singapore, you need to meet the eligibility criteria for the specific card you are interested in. This may include having a high income, excellent credit score, and meeting other requirements set by AMEX.
Can I request a bespoke metal credit card from my bank in Singapore?
Some banks in Singapore may offer bespoke metal credit cards, but this is usually reserved for high net worth individuals and may come with a hefty annual fee. Contact your bank to see if they offer bespoke metal credit cards.
What are the benefits of owning a DBS Metal Card?
DBS Metal Cards offer a range of benefits, including premium travel perks, exclusive access to events, and cashback rewards. Additionally, DBS Metal Cards are made from high-quality materials and offer a unique and luxurious look and feel.
How can I upgrade to the best metal credit card available in Singapore?
To upgrade to the best metal credit card available in Singapore, you need to meet the eligibility criteria for the specific card you are interested in. This may include having a high income, excellent credit score, and meeting other requirements set by the bank. Contact your bank to learn more about upgrading to a metal credit card.
