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5 Cash Cards Booming in South East Asia


There’s no doubt that this part of the world is progressing at a steady rate, and you just need to look at cities like Bangkok, Chiang Mai, Hanoi and Saigon to see it.

The countries in this region are developing in all senses, and yes, that includes finances. That’s why in this new article we will review the 5 cash cards booming in South East Asia, which will give us a pretty good look at how easy it is for people in these countries to get a loan and credit.

#1 – Umay Plus: Thailand

There are many cash cards in Thailand, so why Umay Plus? Most of the time it is hard to get one of these cards, because they require an intensive screening and many other requirements, but Easy Buy has created this card with the purpose of making it easy for Thai residents to get a loan.

Their requirements are as follows:

  1. Thai resident
  2. Age between 20 to 50
  3. A minimum salary of 7000 THB
  4. Personal telephone number and number at work
  5. To live, work or stay near the Umay Plus’s service area

As you can see the requirements are easy to meet, and that’s why Thai people are quickly preferring this cash card over the rest.

Moreover, their rates are quite reasonable:

  1. Interest rate: not more than 15% per year
  2. Fees: not more than 13% per year

Umay Plus’s merit resides in making it much easier for people in Thailand to get a loan, all without abusive interest rates.

Even though the market is quite competitive, there’s no doubt about it that thanks to these advantages this cash card will quickly become a top-choice for Thai people. It’s just a matter of time.

#2 – Premier MasterCard Credit Card: Vietnam

This cash card is issue by the HSBC Bank in Vietnam, but can be used in any part of the world.

You can get it without any fee, and it comes with a generous credit limit of 200 mil to 1 bil VND. You don’t even have to pay an annual fee, so it makes it even more attractive.

Another aspect that makes it one of Vietnam’s preferred cash cards is that it comes with a reward and mileage program, and that’s something that you can solely find in the Premier MasterCard Credit Card.

But what about interest rates? This card offers you a 2.16% rate per month. But worry not, because it also comes with a generous 55-day interest free period.

The unique con about this cash card is that it is only available for HSBC Premier Customers, but fortunately, the bank has other options for people who do not belong to that group like the HSBC Visa Classic, which offers you a 10 mil to 60 mil credit limit and you can get it if your salary is more than 6mil+ VND.

#3 – American Express True Cashback Card: Singapore

There is no doubt about it that Singapore is one of the leading countries in the region, that’s why here you can find so many great cash cards, and the American Express True Cashback Card is one of them.

One of the features that make it really attractive is that it is a real cashback card, which brings you a 1.5% rate on all purchases with no minimum required. But there’s an even better feature: you get 3% cashback for the first 6 months up to S$5,000 spend.

It also comes with a nice rewards program that allows you to win free trips to over 12 destinations thanks to Singapore Airlines.

The requirements are as follows:

  • Over 21 years of age
  • Perceive an income of over S$30,000 per year (natives)
  • Perceive an income of over S$60,000 per year (expats)

As you can see this card offers many interesting benefits and is also available for expats, because this country just like Thailand is quickly becoming an excellent choice for relocation.

#4 – HSBC Gold Visa Cash Back Credit Card: The Philippines

The Philippines is another country which is developing very well and hence another excellent destinations for expats. And yes, here you can also find excellent cash cards and the HSBC Gold Visa Cash Back Credit Card is a perfect example.

These are the main features:

  1. Get 5% cash back on all dining spends
  2. Get 0.5% cash back on other spends
  3. A free meal worth ₱2,500
  4. 10% rebate on your first Caltex fuel purchase + 3% rebate the whole year

In order to get it you only have to follow these requirements:

  1. A minimum monthly income of ₱13,500.00
  2. Minimum 21 years of age
  3. Any sort of identification (Passport, Postal ID, etc.)

As you can easily tell it is not really that hard to get this card as long as you meet the minimum monthly income.

It offers great benefits and a low-entry level, so these are the reasons on why it has become an excellent choice for people in the Philippines looking for a cash card.

#5 – Standard Chartered MasterCard Titanium: Indonesia

This one has become an excellent choice for people in this country because it offers excellent benefits and not many requirements in order to be eligible.

These are the principal advantages of this cash card:

  1. Cash back up to 2.5% per month
  2. Automatic cash back for any spend
  3. First year annual fee waiver

In order to get it you need to meet the following requirements:

  1. 8,000,000 monthly income
  2. Own a credit card from another bank (spend limit greater than 6 mil) and 12+ months of ownership
  3. 21 years minimum age
  4. Resident or expatriate

This card has a considerably higher entry level regarding the monthly income and the fact that you need to have a cash card from another bank, but it is worth it based on its benefits.

Final Words:

As you can see these are the 5 cash cards booming in Southeast Asia right now, something that allows you to see how the financial dimension of this region is developing.

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