Comparing five credit cards based on their annual fees, foreign transaction fees, rewards, and interest rates and introducing World Card as a multi-currency card for overseas spending
Key takeaways
- GXS FlexiCard, UOB EVOL, CIMB Founders Card and Trust Credit Card are Singapore issued credit cards with no foreign transaction fee
- UOB EVOL and Trust Credit Card are bank-issued credit cards offering rewards and cashback on local and international spend
- GXS FlexiCard is a no-interest credit card offering S$500 credit limit
- World Card, a virtual debit card linked to multi-currency World Account, supports payments in 150+ currencies
A credit card offering cashback or travel rewards may still cost your business more when used for international payments. Foreign transaction fees and interest charges can offset the rewards earned, especially when you’re regularly paying overseas suppliers or covering advertising and software expenses.
This guide evaluates five best credit cards for overseas spending and introduces World Card for managing cross-border expenses.
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Best credit cards for overseas business spending in Singapore
| Trust Credit Card | GXS FlexiCard | UOB EVOL Card | CIMB Founders Card | Standard Chartered Visa Infinite | |
| Annual fee | Zero¹ | S$54.50 (waived in first year)³ | Zero⁵ | S$338⁷ | S$599.50⁹ |
| Foreign transaction fee | Zero¹ | Zero³ | Zero (plus 1% international processing fee for transactions processed outside Singapore)⁴ | Zero⁷ | 2.5% bank fee + 1% Visa/Mastercard charge¹⁰ |
| Interest rate | Personalised EIR between 18.9%-29.9% annually, calculated daily on unpaid balances¹ | Zero (S$5 Flexi Fee when only minimum payment is made)³ | 27.8% p.a., calculated daily on unpaid balances⁶ | 27.8% p.a. after an interest-free period; 29.9% p.a. when minimum payment is missed⁷ | Minimum 27.9% p.a., calculated daily if full statement balance is not paid by due date¹⁰ |
| Late payment fee | S100-S200 when minimum payment is missed¹ | S$50 when minimum payment is missed³ | S$100 when minimum payment is missed⁶ | S$150 when minimum payment is missed⁷ | S$100 when minimum payment is missed¹⁰ |
| Cashback / rewards | Quarterly interchangeable reward modes: Unlimited cashback, Bonus cashback, Stockback, and Miles¹ | Up to S$3 per eligible transaction of at least S$10³ | Up to 1% on overseas FX spend; up to 10% on local digital/contactless spend⁵ | Not specified | Up to 3 miles per S$1 on local spending (minimum spend requirement)⁹ |
| Minimum annual income | S$30,000 for Singapore citizens or permanent residents¹ | Not required³ | S$30,000-150,000 | S$30,000 for business owners and self-employed individuals⁷ | S$30,000-150,000⁹ |
| Credit limit | Up to S$150,000¹ | S$500³ | Not specified | Not specified | Not specified |
Details checked in October 2026
Trust Credit Card
Trust Bank in Singapore offers the Trust Freedom Credit Card with zero annual fee and zero foreign transaction fee. Cardholders can choose their own repayment date and pay zero interest when purchases are settled in full by the due date. Available in digital and physical formats, the card supports online transactions, ATM cash withdrawals and point-of-sale (POS) purchases globally. The credit limit is shared across all Trust credit cards held by the cardholder.1
| Fees | Trust Credit Card Fees1,2 |
| Annual fee | Zero |
| Foreign transaction fee | Zero |
| Interest rate | Personalised EIR ranging between 18.9% – 29.9% annually, calculated daily on applicable unpaid balances |
| Late payment fee | S$100 – S$200, applies when minimum payment is missed |
| Cashback/ rewards | Quarterly interchangeable reward modes: Unlimited cashback, Bonus cashback, Stockback, and Miles |
| Minimum annual income | S$30,000 for Singaporean citizens or permanent residents |
| Credit limit | Up to S$150,000 |
Details checked in October 2026
*EIR: Effective Interest Rate
This guide gives you a list of business virtual cards available to Singapore businesses
GXS FlexiCard
GXS Bank in Singapore offers the GXS FlexiCard, a no-interest credit card with an annual fee of S$54.50. The card charges zero foreign transaction fees and offers a S$500 credit limit with no minimum income requirement. With GXS FlexiCard, you can make a minimum partial payment of S$15 and carry forward the balance for a S$5 Flexi Fee.3 A late payment fee of S$50 applies when the minimum payment isn’t made by the due date.3
| Fees | GXS FlexiCard Fees3 |
| Annual fee | S$54.50 (waived off for the first year) |
| Foreign transaction fee | Zero |
| Interest rate | Zero, S$5 Flexi Fees when only minimum payment is made |
| Late payment fee | S$50 when minimum payment is missed |
| Cashback/ rewards | Up to S$3 per eligible transaction of at least S$10 |
| Minimum annual income | Not required |
| Credit limit | S$500 |
Details checked in October 2026
This guide gives you a list of no-fee debit cards in Singapore for businesses
UOB EVOL Card
UOB EVOL is a personal credit card issued by UOB Singapore, offering rewards on eligible local and overseas spending. The card charges a 0% FX fee and levies a 1% international processing fee for transactions processed outside Singapore.4 You can apply for the UOB EVOL card via Signpass and get instant approval provided you meet eligibility criteria.4 UOB EVOL cardholders can also apply for a supplementary card at zero cost.5
| Fees | UOB EVOL Card Fees5,6 |
| Annual fee | Zero |
| Foreign transaction fee | Zero |
| Interest rate | 27.8% p.a., calculated daily on applicable unpaid balances |
| Late payment fee | S$100 when minimum payment is missed |
| Cashback/ rewards | Up to 1% on overseas FX spend
Up to 10% on local digital/contactless spend |
| Minimum annual income | S$30,000 (55 years old and below)
S$15,000 (56 years and above) |
| Credit limit | Not specified |
Details checked in October 2026
Check this guide if you’re evaluating virtual credit cards in Singapore for your business
CIMB Founders Card
CIMB Founders Card is designed by CIMB Bank for business owners and self-employed professionals with a minimum annual income of S$30,000. It carries an annual fee of S$338, with no annual fee for supplementary cards. The card supports overseas spending with 0% foreign transaction fees and offers interest-free credit periods on retail purchases and cash advances. Repayments on the CIMB Founders Card are due in the third statement month after the transaction is made.7
| Fees | CIMB Founders Card Fees7,8 |
| Annual fee | S$338 |
| Foreign transaction fee | Zero |
| Interest rate | 27.8% p.a. after the applicable interest-free period; increases to 29.9% p.a. when minimum payment requirements are missed |
| Late payment fee | S$150 when minimum payment is missed |
| Cashback/ rewards | Not specified |
| Minimum annual income | S$30,000 for business owners and self-employed individuals |
| Credit limit | Not specified |
Details checked in October 2026
Take a look at CIMB Business account review and check this guide if you are evaluating business bank accounts in Singapore
Standard Chartered Visa Infinite
Standard Chartered Bank in Singapore offers the rewards-focused Visa Infinite Credit Card with an annual fee of S$599.50.9 Singapore citizens and permanent residents with a minimum annual income of S$30,000 can apply for the card.9 The card carries a 2.5% foreign transaction fee in addition to processing charges imposed by Visa/Mastercard.10 Individuals who meet the minimum monthly spend threshold of S$2000 earn up to 3 miles per S$1 spent in foreign currency.9
| Fees | Standard Chartered Visa Infinite Card Fees9,10 |
| Annual fee | S$599.50 |
| Foreign transaction fee | 2.5% bank fee + 1% Visa/ Mastercard charge |
| Interest rate | Minimum 27.9% p.a., calculated daily if the full statement balance is not paid by the due date |
| Late payment fee | S$100 when minimum payment is missed |
| Cashback/ rewards | Up to 3 miles per S$1 of overseas spending and 1.4 miles per S$1 on local spending (minimum spend requirement) |
| Minimum annual income | S$30000 – S$150,000 |
| Credit limit | Not specified |
Details checked in October 2026
Check this guide for the best business debit cards available to Singapore businesses
World Card by WorldFirst is built for global businesses
World Card by WorldFirst is a Mastercard-powered virtual debit card linked to the World Account, a multi-currency account offering local receiving accounts in 20+ currencies. When you spend in a currency you already hold a balance in, the payment draws directly from that balance without triggering a currency conversion. Spending in other currencies converts from your base currency at a competitive exchange rate.
Key features of World Card
- Supports payments in 150+ currencies, with zero FX fees when spending in 15 supported currencies, provided you have sufficient balance held in that currency
- Offers 1.2% uncapped monthly cashback on eligible advertising, software, travel and supplier payments; T&C apply
- Provides real-time spending controls, 3D Secure protection and the ability to freeze or cancel cards
- Allows businesses to issue up to 25 multi-currency cards, including 15 physical cards, at zero issuance cost
Together, the World Card and the World Account cover both the receiving side (international customer payments, marketplace payouts) and the spending side (overseas suppliers, software subscriptions, team expenses) of running a business across borders.
Key features of the World Account:
- Receive payments from 130+ marketplaces and payment gateways across 20+ local currency accounts
- Send payments in 100+ currencies across 200+ countries and regions
- Lock in exchange rates for future payments with forward contracts
- Pay 1688.com suppliers directly in CNH through World Pay, the authorised international payment provider for 1688.com
- Integrate with Xero and NetSuite for multi-currency reconciliation
| Fees | World Card Fees |
| Annual fee | Zero |
| Foreign transaction fee | Zero |
| Cashback/ rewards | 1.2% on eligible card spend across ads, software, travel and supplier payments, with no cap. T&C Apply |
| Minimum annual income | Not applicable |
| Credit limit | Not applicable |
| Interest rate | Not applicable |
Details checked in October 2026
FAQs
1. What is the best credit card for overseas spending in Singapore?
The best credit card for overseas spending depends on whether you prioritise multi-currency spending, rewards, cashback, interest, or foreign transaction fees. The World Card linked to the World Account supports payments across 150+ currencies, comes in physical and virtual variants, offers spending control, and links to digital wallets.
2. Which Singapore credit card has no foreign transaction fee?
GXS FlexiCard, UOB EVOL, CIMB Founders Card, and Trust Credit Card are some Singapore-based credit cards offering a 0% foreign transaction fee. If you are frequently making cross-border transactions, the multi-currency World Card supports spending in 150+ currencies with zero fees when you pay in one of the 15 supported currencies, provided you have sufficient balance held in that currency.
3. What is an overseas credit card?
An overseas credit card is generally a credit card used for purchases made abroad or transactions billed in a foreign currency.
Sources
- https://trustbank.sg/legal/trust-freedom-credit-card-key-facts-sheet/#choose-your-repayment-date
- https://trustbank.sg/faqs/credit-card/#what-makes-freedom-credit-cards-rewards-program-unique
- https://www.gxs.com.sg/flexicard
- https://www.uob.com.sg/personal/cards/cashback/evol-card/index.page
- https://www.uob.com.sg/personal/cards/credit-cards/terms-and-conditions.page
- https://www.uob.com.sg/web-resources/personal/pdf/personal/cards/credit-cards/rebates-cards/evol/uob-evol-faq.pdf
- https://www.cimb.com.sg/en/business/solutions-products/cimb-founders-card.html
- https://www.cimb.com.sg/en/personal/help-support/rates-charges/fees-charges/cards.html
- https://www.sc.com/sg/credit-cards/visa-infinite-card/
- https://www.sc.com/sg/pricing-guide/#table-content-610040-8
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
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