Singapore Digital Banks GXS, Trust, MariBank Offer Six Credit Cards

Digital Banks Expand Card Offerings

Singapore's three digital banks now collectively offer six consumer credit cards. GXS Bank, Trust Bank, and MariBank have launched diverse products. These cards present varied features, including cashback, stockback, and loyalty points. Each bank targets specific customer demographics with its card portfolio.

MariBank's Mari Credit Card offers 1.5% unlimited cashback on local spending. It requires no minimum spend. Users also earn 1.5% in Shopee Coins on eligible Shopee purchases. This Shopee promotion runs until 31 December 2026. The card also converts eligible Shopee purchases into 0% interest instalment plans. These plans are available for 3, 6, 12, or 18 months. MariBank does not support ATM cash withdrawals for this card.

Trust Bank’s Stockback and Loyalty Rewards

Trust Bank provides two credit cards: the Freedom Card and the Link Card. Its Freedom Card is Singapore's first to offer stockback rewards. Stockback converts spending into shares. Every S$1 spent earns stockback value. S$10 in value triggers an automatic investment. This goes into a user-selected investment from 50 US stocks and ETFs.

A promotional rate offers 3% stockback on local and foreign eligible spend until year-end. From 1 January 2027, rates adjust to 2% local and 0.5% foreign. Freedom cardholders can also switch quarterly between stockback, bonus cashback, or unlimited cashback. Trust Bank plans to add miles as another reward option soon. The Link cards focus on daily essential savings.

These cards offer up to 21% on FairPrice groceries and 20% on Caltex fuel. Every 100 Linkpoints earned redeems S$1. The NTUC Link Credit Card provides up to 21% savings for NTUC Union members. This promotion for FairPrice Group groceries runs until end-September 2026. The Trust Link Credit Card offers up to 15% savings on similar purchases. Both Link cards have monthly and quarterly bonus caps. They also require a minimum spend outside FairPrice Group.

GXS Bank Targets New-to-Credit and High Spenders

GXS Bank offers the FlexiCard and the GXS Credit Card. The GXS FlexiCard targets consumers new to credit. It features an interest-free, fee-based model. The card has no minimum income requirement. It carries a fixed S$500 credit limit. Cardholders can pay in full or make minimum payments. A flat S$5 Flexi fee applies monthly to carried balances.

A S$50 late fee applies if minimum repayment is missed. Its annual fee is S$54.50, including GST. The GXS FlexiCard is available to Singapore citizens and PRs aged 21 to 55 years. Applications use SingPass MyInfo. The GXS Credit Card is GXS Bank's newest offering. It allows applications via a third-party app. This card offers tiered cashback.

Users earn 1.75% unlimited cashback on eligible local non-Grab spend. This requires a minimum S$500 monthly spend. Alternatively, users get 1.75% cashback on Singtel bills with no minimum spend. Up to 10% cashback in GrabCoins applies to Grab spends. The GXS Credit Card has the highest annual fee at S$196.20. This fee is waived for the first year if approved by 31 December 2026. Eligibility for this card is higher than for the FlexiCard.

Market Segmentation Drives Digital Bank Strategy

The diverse credit card offerings demonstrate digital banks' market segmentation strategies. Each product targets specific consumer needs, from new-to-credit individuals to loyalty programme users. This competition drives innovation in rewards and payment structures. For consumers, the variety offers more tailored financial tools.

For investors, these offerings reveal how digital banks acquire and retain customers. The varying fee structures and reward mechanisms will influence market share. Future product developments will likely focus on deeper integration with partner ecosystems. This will further differentiate digital bank services in Singapore's competitive financial landscape.