Digital bank GXS is GXS Flexi CardA credit card that charges a flat fee on unpaid balances rather than a traditional revolving interest rate.
This card is designed for consumers who are new to credit or have difficulty accessing credit products due to limited credit history, such as new professionals, gig workers, and entrepreneurs, and is available for S$500. We offer a credit limit of .
The GXS FlexiCard is available to eligible Singaporeans and permanent residents aged 21 to 55 and there are no income requirements to apply.
Cardholders can choose to pay the bill in full or make the minimum payment with a flat S$5 extension fee.
According to GXS Bankif the minimum payment is not made, a late fee of S$50 will apply.
The move deviates from the common market practice of charging daily interest on unpaid balances and helps reduce the burden of high interest payments.
Customers can select their preferred repayment date and receive reminders via the GXS Bank app to ensure they make their payments.
GXS FlexiCard provides instant cashback on eligible transactions and waives foreign transaction fees on overseas purchases.
Jen Ong, Head of Retail at GXS Bank, said:
“The GXS FlexiCard is available to eligible Singaporeans and permanent residents, including the one in five Singaporean workers who earn less than $2,500 a month and do not meet the income requirements for most credit cards in the market. The GXS FlexiCard gives these consumers the opportunity to start building a credit history.
As Singapore’s homegrown digital bank, we work with our customers every step of the way to build their creditworthiness and prosper financially. The GXS FlexiCard could be their first credit product, designed to protect them from the burden of snowballing interest repayments while ensuring flexible repayment options, transparent fees and instant cashback. That’s why I did it. ”
GXS Bank offers a wide range of retail banking products, including GXS Savings Accounts and GXS FlexiLoan, to support customers’ flexible financial management.
The GXS Savings Account includes features such as daily interest credits and Boost Pockets to increase your interest rate, while the GXS FlexiLoan offers a flexible revolving line of credit with a zero-interest balance transfer option.
