A Trust card is the credit or debit card from Trust Bank, the digital bank run by Standard Chartered and FairPrice Group since 2022. The pitch: no annual fee, no foreign transaction fee, and an instant card in the app. The Trust Freedom credit card, called the Cashback card until 13 August 2026, lets you pick a reward each quarter: 1.5% unlimited cashback on local spend, up to 15% on one category (capped at S$250 a quarter), 3% stockback until 31 December 2026 or 1.3 Trust Miles a dollar. The Trust savings account adds up to 2.40% per annum interest, and the Link cards give FairPrice savings worth up to 21% on the credit card and 9% on the debit card for union members. The headline numbers are real, but the value swings hard on whether you shop at FairPrice, whether you are an NTUC union member, and which quarterly category you choose. This guide breaks down every rate, fee and condition as of October 2026 so you can tell what a Trust card is actually worth to you.
Trust Bank is a joint venture between Standard Chartered Bank and FairPrice Group, launched in 2022 and licensed as a full bank in Singapore. That ownership matters: it means a Trust card sits inside the FairPrice and NTUC Link ecosystem you may already shop in, and your deposits carry the same Singapore Deposit Insurance Corporation protection as any other bank, up to S$100,000 per depositor.
There is no single Trust card. Trust has two credit cards, Freedom for cashback, stockback or miles and Link for FairPrice Linkpoints, plus a debit card that comes with the savings account. The Link credit card and the debit card each come in two versions: Trust Link for the general public and NTUC Link for union members, which pays more at FairPrice. Everything is run through the Trust app, where you can generate a digital card and start spending before the physical card arrives. If you want the wider picture of how Trust stacks up against the other digital banks, the best savings accounts in Singapore guide puts its interest rate in context.
Update, 14 October 2026: Trust renamed the Cashback card the Freedom credit card on 13 August 2026. You now pick one of four rewards each quarter and can switch for the next quarter in the app. Unlimited Cashback pays 1.5% on local spend and 0.5% on foreign spend, with no minimum spend and no cap. Bonus Cashback keeps the old 1% local and 0.5% foreign base. On top, it pays 15% on one preferred category when your card spend reaches S$2,000 a month for three months in a row, capped at S$250 a quarter, or 5% at S$500 a month, capped at S$30. Stockback pays 3% until 31 December 2026, then 2% local and 0.5% foreign. Its S$500 quarterly cap applies now and after the change. Miles, added on 21 September 2026, pays 1.3 Trust Miles a dollar, which convert to KrisFlyer or HeyMax Max Miles. The six preferred categories are Dining, Shopping, Travel, Wellness, Transport and Entertainment. The merchant's category code decides where a purchase counts.
The S$250 quarterly cap is the number that decides your real return in Bonus Cashback mode. At 15%, you hit the cap once your preferred-category spend reaches roughly S$1,666 in the quarter, and the bonus stops there, so the headline 15% only applies to the first slice of spend. Trust's own example: S$2,000 a month with S$500 of it in the preferred category earns S$274.50 a quarter, S$225 of it from the bonus.
Trust has changed the card twice this year. In March 2026 it removed the old S$1,000-a-month 10% tier and cut foreign spend outside the preferred category from 1% to 0.5%, and on 13 August 2026 it renamed the card Freedom, which now also offers stockback, unlimited cashback and miles. Confirm the current rates and caps in the Trust app before you bank on a number, since these terms move.
| Reward mode | Rate | Cap |
|---|---|---|
| Unlimited Cashback | 1.5% on local spend, 0.5% on foreign spend | No cap, no minimum spend |
| Bonus Cashback | 15% on one preferred category at S$2,000 a month (5% at S$500), plus 1% local and 0.5% foreign on all spend | S$250 per quarter on the bonus (S$30 at 5%) |
| Stockback | 3% on local and foreign spend to 31 Dec 2026, then 2% local and 0.5% foreign | S$500 per quarter |
| Miles | 1.3 Trust Miles per dollar on local and foreign spend | None stated |
Two fees that quietly drain most credit cards are absent on a Trust card. There is no annual fee, so you never have to call and beg for a waiver the way you do on many bank cards. And there is no foreign transaction fee or exchange-rate markup on overseas spend, where most Singapore cards charge around 3 to 3.25%. For anyone who shops on overseas sites or travels, dropping that 3%-plus drag is worth more than the headline cashback on a typical card.
The fee you must avoid is interest. From 1 July 2026 Trust moved to a personalised credit card interest rate ranging from 18.9% to 29.9% per annum, reviewed and possibly adjusted every six months. MoneySense puts the usual card rate at 25% to 29%, so Trust's floor is lower but its 29.9% top rate is above that range, and either end is a punishing rate on any balance you carry. If you pay less than the full statement, interest runs daily from each transaction date on every purchase, not just the unpaid part, so a single revolving month can wipe out a year of cashback. Treat the card as a payment tool, pay the full statement balance every month, and the rewards run clean. If a balance has already built up, the compound interest calculator shows how fast daily interest at these rates compounds against you.
Because a Trust card is still a credit card, it counts toward the MAS unsecured credit rules: your total interest-bearing unsecured borrowing across all banks cannot exceed 12 times your monthly income, a limit you can read more about in the unsecured loan glossary entry.
The Trust savings account pays up to 2.40% per annum on balances up to S$1.2 million, with anything above that earning the base 0.05%. The maximum was trimmed from 2.50% in March 2026, so the current top rate is 2.40%. You reach it through the Flex plan, where you stack bonus interest options each month on top of the 0.05% base. If you never pick a plan you get Signature, which pays up to 1.00% for card spend, a GIRO salary and a S$100,000 balance, with lower rates for non-union members. Zen pays a flat 0.40% with no conditions, and you can change plan every month in the app.
Hitting the full 2.40% is harder than the headline suggests, because the biggest bonus options reward things many people cannot or would not do. The single largest, +1.20%, needs you to refer at least one new Trust credit card customer who signs up that month, every month you want it. The salary bonus needs at least S$1,500 paid in by GIRO in one transaction with the SALA purpose code, so a salary sent by FAST does not count, and the balance bonus needs a S$100,000 average daily balance for the month. The only mix that reaches 2.40% is the referral (+1.20%), a S$20,000 TrustInvest purchase that month (+0.70%, and invested money is not covered by SDIC) and the salary bonus (+0.45%) on top of the 0.05% base. The table below shows the eight Flex bonus options as of October 2026; you pick three each month.
For comparison shopping, run the rate against alternatives using the savings goal calculator, and remember that a fixed deposit can sometimes beat a conditional savings rate without the hoops. Our fixed deposit rates guide covers when that trade makes sense.
| Bonus action | Extra interest |
|---|---|
| Refer a new Trust credit card customer who signs up that month | +1.20% p.a. |
| Invest S$20,000+ in TrustInvest funds | +0.70% p.a. |
| Credit salary of S$1,500+ via GIRO | +0.45% p.a. |
| Maintain S$100,000+ average daily balance | +0.30% p.a. |
| Make 5 card spends of S$30+ | +0.20% p.a. (union members), +0.10% p.a. (others) |
| Raise your average daily balance by S$3,000+ on last month | +0.20% p.a. |
| Spend S$500+ in foreign currency | +0.15% p.a. |
| Receive S$1,500+ in incoming PayNow | +0.15% p.a. |
| Base rate (always) | 0.05% p.a. |
The savings account comes with a debit card. Spend on the debit card at FairPrice Group stores, which includes FairPrice supermarkets, Unity, Cheers and Kopitiam, earns Linkpoints that translate into savings. The debit card gives up to 9% in FairPrice savings for union members and up to 4% for everyone else, and the top rate depends on how much you spend outside FairPrice each month.
The single biggest variable in what a Trust card is worth is whether you are an NTUC union member. The NTUC Link versions of both cards pay materially more at FairPrice Group than the public Trust Link versions. The savings come as Linkpoints, which you redeem at FairPrice, so the value is most real for households that already do their groceries there.
The table makes the gap plain. For a regular FairPrice shopper who is a union member, the credit card can reach up to 21% in savings; the same shopper on the public card tops out at 15%. The higher tiers require a minimum monthly spend outside FairPrice, so the top rate is conditional, not automatic.
If groceries are a large line in your budget, it is worth mapping this against your other cards before deciding. Our guide to the best grocery credit cards compares the Trust card to the alternatives, and the personal budget calculator shows how much of your spend actually goes to supermarkets.
| Card | Union member (NTUC Link) | Non-member (Trust Link) |
|---|---|---|
| Credit card | Up to 21% (with S$450+ monthly spend outside FairPrice) | Up to 15% (with S$550+ outside FairPrice) |
| Debit card | Up to 9% (with S$300+ monthly spend outside FairPrice) | Up to 4% (with S$300+ outside FairPrice) |
The credit card follows the standard MAS income rules, so the thresholds are not unique to Trust. The debit card and savings account have a much lower bar, since they do not extend credit. The NTUC Link versions add one condition on top: you must be a current NTUC union member to apply for them.
Foreigners on a work pass face a higher income floor than Singaporeans and PRs, in line with the rest of the market. If your income sits near these lines, check the exact figure on Trust's own application page before applying, since a rejected application is recorded.
| Applicant | Age 21 to 55 | Age 55 and above |
|---|---|---|
| Singapore Citizen or PR | S$30,000 | S$15,000 |
| Foreigner on work pass | S$60,000 | S$60,000 |
Update, 4 November 2026: Trust has extended the stock and cashback sign-up gifts to 31 January 2027, and its page no longer lists a sign-up offer for Miles. Trust runs rotating sign-up promotions rather than a fixed cash bonus. New Freedom card customers who sign up by 31 January 2027 get a sure-win stock gift worth up to US$8,000 if they pick Stockback, or a sure-win cashback gift of up to S$8,000 if they pick Cashback. Trust picks the stock at random from seven US companies, including NVIDIA, Apple and Tesla. The June 2026 iPhone lucky draw ended on 30 June 2026. Past offers have included FairPrice vouchers for opening an account.
Treat any welcome gift as a tiebreaker, not the reason to apply. A lucky draw is not a guaranteed payout, and a one-off voucher is spent once while you live with the everyday earn rate for years. Decide on the card based on the cashback, the FairPrice savings and the no-fee structure, then let the promotion be a small bonus on top. Always read the qualifying spend and the closing date on Trust's own promotion page, since these change month to month.
The Trust card is strongest for a specific shopper: someone who buys groceries at FairPrice, especially an NTUC union member, who values no annual fee and no foreign transaction fee, and who pays the balance in full every month. One catch: the up to 21% FairPrice savings come on the Link credit card and the cashback, stockback and miles on Freedom, so one Trust credit card gives you one or the other.
It is weaker if you do not shop at FairPrice, since the standout perks live in that ecosystem, and if you chase high category cashback you may earn more on a dedicated card with a higher bonus rate and bigger cap. On overseas spend, the main win is the absence of any FX fee.
Before you apply, check three things: what you spend a month at FairPrice Group, whether you are a union member, and how much you spend overseas. The cashback credit cards guide and the balance transfer entry cover the other cards you might compare it with. Whatever you pick, the rule that makes any card pay is the same: clear the statement in full every month.
Trust Bank is a joint venture between Standard Chartered Bank and FairPrice Group, launched in 2022 and licensed as a full bank in Singapore. That FairPrice link is why a Trust card pays extra savings at FairPrice supermarkets, Unity, Cheers and Kopitiam through the NTUC Link rewards system.
As of October 2026 the Trust Freedom credit card, called the Cashback card until 13 August 2026, lets you pick a reward each quarter. Unlimited Cashback pays 1.5% on local spend and 0.5% on foreign spend with no cap. Bonus Cashback pays 1% local and 0.5% foreign plus up to 15% on one preferred category when you spend S$2,000 a month, capped at S$250 a quarter, so the 15% applies only to the first roughly S$1,666 of category spend. It also offers 3% stockback until 31 December 2026, capped at S$500 a quarter, or 1.3 Trust Miles a dollar instead.
No. The Trust credit and debit cards have no annual fee, and there is no foreign transaction fee or exchange-rate markup on overseas spend, where most Singapore cards charge around 3 to 3.25%. That makes the Trust card useful for travel and overseas online shopping.
The Trust savings account pays up to 2.40% per annum on balances up to S$1.2 million through the Flex plan, with a base rate of 0.05%. You pick three of eight bonuses each month, and only one combination reaches 2.40%: referring a new credit card customer (+1.20%), buying at least S$20,000 of TrustInvest funds that month (+0.70%, not covered by SDIC) and crediting a S$1,500 salary (+0.45%) on top of the 0.05% base. A flat Zen plan pays 0.40% with no conditions.
Singapore Citizens and PRs aged 21 to 55 need a minimum annual income of S$30,000, dropping to S$15,000 for those above 55. Foreigners on a work pass generally need S$60,000. The Trust debit card and savings account have no income requirement and are open from age 16.
The NTUC Link cards are reserved for NTUC union members and pay more at FairPrice Group: up to 21% savings on the credit card and 9% on the debit card. The Trust Link cards are open to the general public and top out at 15% on the credit card and 4% on the debit card. Both earn Linkpoints; the cashback, stockback and miles rewards are on the separate Freedom card.
This is general financial information for Singapore, not personal financial advice. Figures change, so verify current rates against the official sources above before acting. See our full disclaimer.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).