CIMB Visa Signature

CIMB Visa Signature

CIMB Visa Signature

CIMB Visa Signature

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Up to 10% Cashback
No annual fee for life. Advertises one of the highest cash back at 10%, but only for selected categories and limited by cashback cap.
10%
Cash Back on Beauty & Wellness, Online Shopping, Groceries
S$800
Min. spend per month to qualify for the 10% Cash Back
S$100
Cash Back Cap per month
Online Promo
Get up to S$188 Cashback when you spend a minimum of S$988 in Eligible Transactions within 60 days from card approval date. T&Cs apply.
Valid until 31 Jan 2025 - See more details below

Are you eligible?

    • Promotion is open to applicants who do not hold any principal CIMB Credit Cards at the time of his/her application
    • Apply for an eligible CIMB Credit Card during the promotion period

What you need to know

  1. Get S$188 Cashback when you spend a min. of S$988 within 60 days from card approval date
  2. OR get $88 Cashback when spend a min. of S$108 within the first 30 days from card approval date
T&Cs

Quick Facts

Get the maximum value by

Very specific categories and limited categories to maximise cash back, and yet still has high minimum spend. Slightly lower base cash back compared to the rest of the cards

Good for

Young professionals who shop online and also buy groceries

Categories to maximise this card

Beauty and wellness, grocery, online shopping, pet care and cruises

What people use it for

Daily spending and online shopping. Since there is no annual fee, just use this card whenever you spend in the more specific categories.

Get if

You consistently spend a modest amount on groceries, online shopping and beauty/wellness each month

All Details

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CIMB Visa Signature Card Benefits 2024

Formerly known as a card associated with food enthusiasts, CIMB Visa Signature Card is now re-designed to cater to the needs of shopaholics, pet owners and travellers who fancy cruise trips. The CIMB Visa Signature Card is one of CIMB’s most popular cards for cashback benefits, and among the few credit cards which do not charge any annual fees. Highlights include 10% cashback on spending in selected categories including online shopping, groceries, beauty & wellness, pet shops & veterinary services and cruises.
In this review, we’ll take a look at the requirements, pros and cons and other relevant details of the CIMB Visa Signature Card before you make a decision.

Find Out More About The CIMB Visa Signature Credit Card In Our Blog Review!

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Pros & Cons

Pros

  • Up to 10% cashback on spending in selected categories including online shopping, groceries, beauty & wellness, pet shops & veterinary services and cruises
  • No annual fee for life
  • Enjoy more than 1,000 CIMB Deals & Discounts across dining, retail and lifestyle outlets
  • Exclusive access to CIMB’s Visa Signature Concierge which includes travel and dinner reservations privileges, priority booking of tickets and more
  • Complimentary travel insurance of up to S$500,000

Cons

  • Interest rate of 27.80%, which is higher than some cashback credit cards (as per MoneySmart’s Credit Cards comparison tool)
  • A minimum spend of $800 is required to qualify for the 10%

Compare CIMB Visa Signature Card vs. HSBC Visa Platinum Card vs. Citi Cash Back + Card

As we compare the 3 credit cards, the CIMB Visa Signature Card gives you the highest percentage of cashback on your spending on selected categories like local dining and groceries (food deliveries and online groceries included) - a generous 5% that is higher than the 5% and 1.6% you can get from the HSBC Visa Platinum Card and the Citi Cash Back+ Card respectively.

Moreover, the CIMB Visa Signature Card lets you save the most on annual fees as it doesn’t charge any unlike most credit cards, including the HSBC Visa Platinum Card and the Citi Cash Back+ Card.

When it comes to interest rates, the HSBC Visa Platinum Card offers you the lowest option of 26.90% (subject to the bank’s assessment of your credit profile). However, it charges a hefty annual fee of $662.15, which is the highest among the 3 cards.

CIMB Visa Signature Card Card

Interest rate: From 27.80%

Annual fee:None

Minimum annual income:

  • $30,000 for Singaporeans and PRs

    • Cash back benefits:
  • Up to 10% cashback on online shopping, groceries, beauty & wellness, pet shops & veterinary services and cruises, which consists of the base cashback of 0.2% and an additional 9.8%
  • No annual fee charges
  • Be entitled to over 1,000 CIMB Deals & Discounts across dining, retail and lifestyle outlets
  • Gain exclusive access to travel and dinner reservations, priority booking of tickets and more via CIMB’s Visa Concierge Service
  • Get covered with travel insurance of up to S$500,000

    • HSBC Visa Platinum Card

    Interest rate: From 26.90%

    Annual fee:$662.15 (no waiver available)

    Minimum annual income:

  • $30,000-$40,000 for Singaporeans and PRs
  • $40,000 for foreigners

    • Cash back benefits:
  • 5% cash rebate on local dining and groceries (food deliveries and online groceries included). min. spending of S$600 monthly in a calendar quarter to earn 5% cash rebate.
  • Up to 21.15% fuel savings at Caltex and Shell
  • 1X Reward point per dollar spent
  • Annual fee waiver available
  • Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel

    • Citi Cash Back + Card

    Interest rate: From 27.90%

    Annual fee:$196.20 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $42,000 for foreigners

    • Cash back benefits:
  • 1.6% cash back on eligible spend all year round
  • No minimum spend required and no cap on cash back earned
  • No expiry for cash back earned
  • Earn 0.4% Bonus Cash Back on eligible spend (only valid for Citi Plus customers who are Primary Account Holders of a Citi Interest Booster Account
  • Up to S$1 million coverage for purchases of travel tickets

    • Find Out Great Credit Cards Promotions (Including Cashback) In Our Blog Article!

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    Credit Card With Complimentary Travel Insurance Coverage

    Many credit cards offer complimentary travel insurance, providing a safety net for your journeys. While benefits can vary widely between card issuers like Citi, AMEX, UOB, DCS, DBS Altitude, and CIMB, common coverages include:

    • Purchase protection: Coverage for items purchased with your card and in the form of e-commerce coverage.
    • Medical emergencies: Coverage for medical expenses incurred while travelling.
    • Trip disruptions: Assistance with costs if your trip is cancelled or interrupted.
    • Travel delays: Compensation for unexpected delays during your journey.
    • Lost or Delayed luggage: Reimbursement for essential items if your baggage goes missing.
    • Rental car coverage: Protection against damages or theft to your rental vehicle.
    • Accidental coverage: Protection against unforeseen accidents during your trip.

    Discover More About Credit Cards With Complimentary Travel Insurance

    Read More

    CIMB Visa Signature Card Application

    Here are 3 simple steps to apply for the CIMB Visa Signature Card

    Step 1

    Apply via MoneySmart’s credit cards page

    You may begin your application by clicking on our CIMB Visa Signature Card application link. When you choose to apply online via SingPass MyInfo, CIMB will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

    Step 2

    Provide all documentation required

    You’ll need to provide all the necessary documentation in order for CIMB to approve your credit card application. This list of documents include:

    • NRIC or other identification details
    • Latest computerised payslip
    • Latest 12 months’ CPF Contribution History Statement
    • Latest Income Tax Notice of Assessment (NOA)

    Step 3

    Step Title 3

    You’ll be able to activate your CIMB Visa Signature Card through CIMB’s online platform, and enter a One-Time Password (OTP) after keying in your 6-digit Online Banking PIN to secure all your credit card transactions. Thereafter, it’s ready for you to use on any of your purchases and you can track your cashback rewards and credit card statements with your CIMB Clicks mobile app!

    Frequently Asked Questions

    Are there any fees if I apply for the CIMB Visa Signature Card Card?

    CIMB Visa Signature Card does not charge any initial annual fees, but it does charge other fees like supplementary card annual fee, late payment fee, minimum monthly payment, foreign currency transaction fee, cash advance transaction fee, overlimit fee.

    Am I eligible for the CIMB Visa Signature Card Card?

    If you’re a Singapore Citizen or Permanent Resident (PR), you’re eligible to apply for the CIMB Visa Signature Card, as long as you’re aged between 21 and 70, and earn a minimum annual income of $30,000 (for Singaporeans and PRs).