Best Credit Cards for Your New Home
Moving into a new place stacks renovation, furniture and appliances into a short window of heavy spending. Because category bonuses are capped monthly, the cards that pay best here are usually uncapped flat-rate cards, or a strong general miles card if you would rather bank the miles.
- 1Cashback
Citi Cash Back+ Card
Citibank
Why it fits: Uncapped flat cashback that holds its rate across a big setting-up-home spend.
Annual fee S$196.20 · Min income S$30,000
Pros
- +Flat 1.6% cashback on every purchase with no minimum spend and no cap
- +Cashback is earned on foreign-currency spend as well as local spend, with no spend categories to track
- +First-year annual fee waived, and the standard S$196.20 fee can typically be waived on request thereafter
Cons
- −1.6% flat rate is lower than category cards that pay 5-8% on dining, groceries or transport, so heavy category spenders earn less
- −Standard S$196.20 annual fee applies from year two unless waived
- −On overseas spend the ~3.25% Mastercard FX/admin fee exceeds the 1.6% rebate, so net return is effectively negative
- −The headline sign-up rate (e.g. 8% welcome cashback) is a capped promo for the first months only, not the ongoing 1.6% rate
- Cashback
Why it fits: Rewards furniture and appliance shopping in store and online, up to its cap.
Annual fee S$196.20 · Min income S$30,000
Pros
- +Up to 6% cashback on both shopping (online and in-store) and transport, including overseas spend that falls in those categories
- +Entry-level income requirement (S$30,000 for Singaporeans/PRs) makes it accessible to first-time cardholders
- +Annual fee is waived in the first year and can typically be waived again on request
Cons
- −S$800 minimum monthly spend required to unlock the 6% bonus rate; below that you only earn 0.3%
- −Monthly cashback is capped at S$70 (S$50 shopping + S$20 transport), so the upside is limited for higher spenders
- −Base rate of 0.3% on non-bonus spend is uncompetitive versus flat-rate cashback cards
- −Card was repositioned in March 2024, removing the previous standalone contactless cashback category
- Miles
Why it fits: Turns a large home spend into miles with a strong, uncapped general earn rate.
Annual fee S$261.60 · Min income S$30,000
Pros
- +First-year annual fee waived (S$261.60 thereafter)
- +~2.4 mpd base on foreign spend
- +Airport lounge access included
- +Visa option means wider acceptance than Amex variant
Cons
- −S$261.60 annual fee from year two onwards
- −Local rate only ~1.4 mpd, weak for SG spend
- −Standard foreign-currency fee still applies on FX spend
- 4Cashback
Standard Chartered Simply Cash Credit Card
Standard Chartered
Why it fits: Simple uncapped cashback for the mixed bag of move-in costs.
Annual fee S$196.20 · Min income S$30,000
Pros
- +1.5% flat cashback on all spend, no categories to track
- +Cashback is uncapped, no monthly limit
- +No minimum spend needed to earn rewards
- +Simple and beginner-friendly
Cons
- −Not free for life: S$196.20 annual fee after first year
- −Flat 1.5% is low vs category cards' higher tiered rates
Frequently asked questions
- What's the best card for furnishing a new home?
- An uncapped flat-rate cashback card, because the bonus rate on category cards is capped at a low monthly spend and most of your move-in costs would fall to the base rate. If you prefer miles, use a card with a strong uncapped general earn rate.
- Should I spread new-home costs over an instalment plan?
- If paying in full would strain your cash flow, a 0% instalment plan is worth more to you than a few dollars of cashback. If you can clear the balance, a rewards card earns more. Decide based on your cash position, not the rewards alone.