Updated September 29, 2022
Excellent! ROSHI has found 4 Student cards for you.
Revolut Metal Debit Card
S$19.99Monthly Subscription
Real-time FXat mid-market fees
150+Supported Currencies
On Revolut's website
Card Features
Annual Interest Rate and Fees
Anual Interest Rate0.00%
Principle Annual Fee$239.88
Supplementary Annual FeeN/A
Fee WaiverN/A
Minimum Monthly RepaymentN/A
Interest Free PeriodN/A
Other
Card AssociationVisa
Wireless PaymentVisa payWave
Revolut Standard Debit Card
S$0Monthly Subscription
Real-time FXat mid-market fees
150+Supported Currencies
On Revolut's website
Card Features
Annual Interest Rate and Fees
Anual Interest Rate0.00%
Supplementary Annual FeeN/A
Fee WaiverN/A
Minimum Monthly RepaymentN/A
Interest Free PeriodN/A
Other
Card AssociationVisa
Wireless PaymentVisa payWave
Revolut Premium Debit Card
S$9.99Monthly Subscription
Real-time FXat mid-market fees
150+Supported Currencies
On Revolut's website
Card Features
Annual Interest Rate and Fees
Anual Interest Rate0.00%
Principle Annual Fee$118.8
Supplementary Annual FeeN/A
Fee WaiverN/A
Minimum Monthly RepaymentN/A
Interest Free PeriodN/A
Other
Card AssociationVisa
Wireless PaymentVisa payWave
DBS Live Fresh Visa Student Card
0.3%Cash Back on All Spend
S$500Credit Limit per month
18Min. Age Requirement
On DBS's website
Card Features
Annual Interest Rate and Fees
Anual Interest Rate25.90%
Principle Annual Fee$128
Supplementary Annual FeeN/A
Fee Waiver5 years fee waiver
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period20 days
Other
Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay, Samsung Pay, Google Pay
Student credit cards are just like ordinary credit cards except that they are targeting students. They come with lower credit limits but lower requirements so that even students can acquire them.
Having a student credit card can be more useful if you have any emergency needs, such as books, dorm accommodation fees, etc. The problem comes when you need to pay off the credit debt.
If you are confident in your ability to repay the credit you spend each month, then a credit card is a good choice. If not, you’re better off sticking to a debit card.
| Credit Card Name | Credit Limit | Annual Fee | |
|---|---|---|---|
| DBS Live Fresh Student Card | S$500 | $192.60 (waived for 5 years) | |
| Citibank Clear Student Card | S$500 | $29.96 (waived for 1 year) | |
| Mayban eVibes Student Credit Card | S$500 | $20 (waived if card is used) | |
| CIMB AWSM Card | S$500 | Free |
As we just mentioned, there is always the option of a debit card. It doesn’t allow you to loan any credit, but is still useful for online transactions and managing your money.
Depending on where you study, you may also want to consider a debit card with multiple currency options. You can get this from account providers such as YouTrip and Revolut. These will only be useful if you plan to study abroad.
Another choice is a supp card from your parents. These cards are under your parents’ names but allow you to use them freely. The only downside is your parents can monitor exactly what you’re spending your money on!
One final option is a prepaid card, such as FEVO. These ones work by letting you top them up on the go and then working like a regular credit card.
Students can apply for a student credit card. Anyone currently studying and above the age of 18 can apply for it. You will not require a specific level of income and the interest rates are quite small.
A student credit card is a great way to build up your credit history. Make sure you can keep up with the minimal payments required to keep that credit score high though!
If you are below 21 years of age, you need proof of a source of income which can be from either a job or an allowance from your parents/guardians. If you are above 21 years of age, you can show a household income source.
When it comes to student credit cards, $500 is the limit, no matter the card. When you hit $500 of credit, you can’t use the card anymore. When you finish paying it off, you’ll get the credit limit of $500 back.
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