Some of the Best Cashback Cards in Singapore

One apprehension that many have about credit cards is that these things can put you into debt. However, with the right attitude and some financial discipline, credit cards can actually save you a lot of money. Among the nifty things they offer are cashbacks and rebates.

A cashback card is just what it sounds like – it gives you cash back. A percentage of your spending returns to you, provided you meet with the specified conditions. Of course, each card offers something different. Thus, certain cards are fitting for certain people with certain lifestyles. If you’re wondering which cashback card would be right for your spending habits, we’re here to help you sort things out. Below are a list of some of the most popular cashback cards in Singapore, with short descriptions as well as immediate pros and cons.

Citibank_Cash_Back_Card

– 8% Cashback at all supermarkets and grocery delivery (RedMart, Honestbee) worldwide
– 8% Cashback at F&B outlets, food delivery (Foodpanda, Deliveroo)
– 8% Cashback on and Grab rides and dining, even overseas
– Up to 20.88% cashback at Esso or Shell, and 8% at other petrol stations
– Minimum spend: S$888 per month (0.25% cashback for spending less than S$888)
– Cashback cap: S$25 per category
– Annual fee : S$192.60 for principal card, S$96.30 for supplementary card
Pros: Highest cashback rates. Beneficial for everyday essentials such as groceries, food and petrol. Comes with exclusive dining perks at selected restaurants. Requires only an annual income of S$ 30,000 for Singaporean nationals, or S$ 42,000 for non-Singaporeans.
Cons: Relatively high annual fee. S$ 25 cap per category

HSBC_Advance_Credit_Card

For Advance Banking customers:
– 3.5% Cashback on everything, with S$2,000 minimum spend monthly; capped at S$ 125 per month
– 2.5% Cashback on all purchases when below the minimum spend
– Annual Fee: Perpetually waived for principal card and supplementary card

For non-customers:
– 2.5% cashback on everything, with $2,000 minimum spend monthly; capped at $70 per month
– 1.5% Cashback on all purchases when below the minimum spend
– Annual fee: Waived first year for the principal card only
Pros: Perpetual waive on the annual fee for Advance Banking customers
Cons: Requires a high minimum spend of S$ 2,000 to qualify for the 3.5% caschback

American_Express_True_Cashback_Card

– 1.5% Cashback on all purchases
– 3% Cashback for first six months
– Interest Rate (p.a.): 24.99%
– Balance Transfer (p.a.): 0%
– Annual Fee: $171.2; waived first year
Pros: Cashback can be gained when the card is used on anything. No cap. Waived first year fee. May be used with Apple Pay
Cons: Relatively low cashback rate compared to other cards.

Standard_Chartered_Unlimited_Cashback Credit Card

– 1.5% Cashback for all eligible spend
– No minimum spend
– No cashback cap
– 20% Cashback on Uber and UberEats app
– Interest Rate (p.a.): 25.9%
– Balance Transfer (p.a.): 0%
– Annual Fee: $192.6; waived for the first two years

Pros: No minimum spend, no cashback cap. Doubles as an EZ-Link Card.
Cons: Relatively high annual fee, relatively low cashback rate. The 20% cashback on Uber is contingent on $600 on minimum spend on retail per month.

Standard_Chartered_Visa_Infinite Credit Card

– 20% Cashback from Uber rides worldwide, as well as UberEats
– Cashback cap: S$50 per month
– Annual fee: S$ 588.50
Pros: Card offers amazing rewards, miles, large discounts, as well as unparalleled lifestyle privileges like priority treatment and travel insurance. Great for frequent travelers and habitual Uber users.
Cons: High annual fee. Uber cashbacks are contingent on a minimum retail spend of $600 per month.

OCBC 365 Credit Card

– 3% Cashback for weekday meals, even overseas
– 6% Cashback for weekend meals and
– 3% Cashback on groceries, recurring telecommunications bill payments, and all online purchases
– Up to 23.8% discount at certain petrol stations
– Minimim spend: S$ 600 monthly $600 (0.3% cashback only for spending less than minimum)
– Cashback cap: S$80 cap per month
– Interest Rate (p.a.): 25.92%
– Balance Transfer (p.a.): 0%
– Annual Fee: $192.6

Pros: Good for regular home needs and eating out. May also be used when dining overseas.
Cons: Relatively high annual fee.

HSBC_Visa_Platinum_Credit_Card

– 5% Cash rebate on groceries, given a min. spend of S$800 monthly for all 3 months of a quarter
– 3% Cash rebate on groceries, given a min.spend of S$400 monthly for all 3 months of a quarter
– 5% Rebateon recurring mobile, cable, TV, or internet bill payments, given a minimum spend of $400 spend monthly for all 3 months of a quarter
– 5% Cash rebate on Shell and Caltex petrol stations, given a min. spend of S$800 monthly for all 3 months of a quarter
– 3% Cash rebate on Shell and Caltex petrol stations, given a min. spend of S$400 monthly for all 3 months of a quarter
– 2% Rebate on food and dining, given a min. spend of S$800 monthly for all 3 months of a quarter; S$60 cap quarter
– 1% Rebate on food and dining, given a min. spend of S$400 monthly for all 3 months of a quarter; S$60 cap per quarter
– Interest Rate (p.a.): 24%
– Balance Transfer (p.a.): 2.5%
– Annual Fee: S$180
Pros: Advantageous for use on everyday needs such as groceries and petrol.
Cons: Requires a minimum spend for all months of the same quarter. Relatively high annual fee.

Bank_of_China_Visa_Infinite_Card

– 5% cashback for first 2 months; with up to S$4,000 spend
– 1% cashback in all local purchases all-year-round
– Interest rate (p.a.): 33.5%
Pros: No minimum spend or cashback cap for local spending. Also comes with large discounts for dining in selected establishments. Waived first year fee. Waived 1.5% currency exchange fees for all overseas transactions.
Cons: Comparatively smaller cashback. Requires a minimum annual income of S$ 120,000 to qualify.

 

POSB Everyday Card

– Up to 14% cashback for online food delivery; minimum spend of S$600 per month
– Up to 3% cashback on food and beverages during weekdays, and 9% on weekends; minimum spend of S$600 per month
– 5% Rebate for shopping at Sheng Siong
– 3% Rebate for shopping at Watsons
– 1% Cashback from recurring utilities and telecommunications bills
– Interest Rate (p.a.): 25.9%
– Balance Transfer (p.a.): 0%
– Annual Fee: S$ 192.60; waived first year

Pros: Suitable for everyday essentials such as groceries, food, and bills. No cashback cap. Annual fee is waived for one year.
Cons: Comparatively high annual fee.

UOB One Card

– Max of 5% cashback per quarter for a minimum spend of $2,000 monthly
– Max of 3.33% cashback for a minimum spend of $500 or $1,000 monthly
– Up to 10% additional SMART$ rebate with the UOB SMART$ Rebate Programme
– Interest Rate (p.a.): 25%
– Balance Transfer (p.a.): 0%
– Annual Fee: S$ 128.4
Pros: High cashback rate. Ideal for big spenders or those who habitually pay via credit card.
Cons: High minimum spend; must spend the minimum for 3 months in a quarter to qualify for the quarterly rebate. Requires at least 3 transactions per month.

Standard_Chartered_SingPost_Platinum_Visa_Credit_Card

– 7% Cashback on selected online purchases, given a minimum spend of $600 per month
– 2% Cashback at supermarket purchases, given a minimum spend of $600 per month
– 0.2% Cashback from other retail purchases, or up to $720 a year
– 20% Cashback on all transactions via the Uber and UberEats app.
– Interest Rate (p.a.): 25.9%
– Balance Transfer (p.a.): 0%
– Annual Fee: $192.6
Pros: Useful for habitual Uber users and online shoppers.
Cons: Relatively high annual fee. Uber cashbacks are contingent a minimum of $600 on retail spends per month, with a $50 cap.

CIMB Visa Signature

– 10% Cashback for food and beverages, including restaurants, bars, clubs, fast food, food caterers and others.
– 10% Cash rebate for online foreign currency transactions
– Interest Rate (p.a.): 25.5%
– Balance Transfer (p.a.): N/A
– Annual Fee: None
Pros: Can be used in multiple food and beverage outlets; very advantageous for those who love to eat out. Also Handy for overseas trips due to the low foreign transaction fee (1%). No annual fee.
Cons: Requires 8 transactions of at least S$30 within the same statement.

UOB YOLO Card

– Up to 8% cashback from dining and entertainment during the weekends, both locally and overseas
– 3% Cashback from dining and entertainment on weekdays
– 3% Cashback from online retail shopping and online travel payments
– 3% cash rebate on payments made with UOB Mighty
– 0.3% Cashback from all other expenses
– Minimum spend: S$600 per month (For less than S$600, a 0.3% rebate is earned)
– Total rebate cap: S$60 per month
– Interest Rate (p.a.): 25%
– Balance Transfer (p.a.): 0%
– Annual Fee: $192.6
Pros: Cashbacks also apply overseas. Rebates can be automatically placed into a Unit Trust through the UOB Young_Professional Solution’s_Sweep feature.
Cons: Relatively high annual fee.

 

OCBC_Plus!_Vis_ Credit_Card

– Up to 18.5% cashback when used at Esso Service Stations
– 3% Cashback at Unity
– 2% Rebate for EZ-Reload
– 1.3% Rebate from Starhub, M1, SPH, Town Council bills & SP Services
– 0.22% Rebate from all Visa spending
– 5% Rebate in LinkPoints, with a min. spend of $500 for Visa transactions apart from FairPrice, FairPrice Online and / or Unity within the same month
Pros: High rebates for petrol; useful for car owners
Cons: Rebates are limited to certain establishments

Hope this helps! If you’ve got any more questions or just need some useful tips and information, contact a reliable financial adviser to help compare credit cards Singapore.

For advice on a personal loan.

For advice on a new home loan.

For refinancing advice.