Best Cashback Credit Cards in Singapore 2020
Ditch your regular credit card and start getting cashback as we will be listing down the Best Cashback Credit Cards in Singapore. If you are one of those people who prefers spending and shopping through their credit cards, why not spend and earn more with a credit card with a cashback, right?
What is a Cashback Credit Card?
Before we begin listing down our favorites, let us first describe what a cashback credit card is. Cashback refers to a rebate that you can receive when you purchase various products using your credit card. So you can think of it as sparing some money as you shop and purchase items with your credit card.
- What is a Cashback Credit Card?
- Top 10 Cashback Credit Cards in Singapore
- Getting the Best Cashback Credit Cards
Top 10 Cashback Credit Cards in Singapore
Do you usually spend on dining and groceries more than anything else? The Citi Cash Back Card is for you! You can earn 8% of cash backs on dining at restaurants and cafes, and groceries. You can also earn an additional of 20.88% fuel savings when you purchase petrol at Esso and Shell. If you happen to gas up to other petrol station on any part of the world, don’t worry, you can still get an 8% cashback.
If you are wondering if you would get any cashback on other purchases that you make with the Citi Cash Back Card, nothing to worry! You can still have 0.25% of cashback on all other retail purchases, without any cap!
You can also earn an additional of 7.75% cashback on dining, groceries, and petrol, plus 0.25% on other purchases as a bonus when you spend a minimum of $888 in a statement month. As a welcome gift, CitiBank would also be giving you $120 of cashback when you spend $1200 in the first three months with them.
Maximize your cashback at relatively low spend levels and get 10% of cashback on the following:
- Dining at restaurants
- Transport (Taxi Rides) and Petrol
- Travel in Foreign Currency such as using the card to purchase flights and hotel stays in a foreign currency
- Health and Medical
- Electronic and Furnishing at selected merchants (Harvey Norman, Best Denki, Challenger, Ikea, Courts or Parisilk)
- Transit with Ease With SimplyGo for bus and train rides
Aside from the 10% cash back on the items above, you can also get an unlimited 0.2% cashback on all other retail spends with the CIMB Platinum Mastercard. This card can also be shared as a supplementary card for four other members of the family, and all the annual fees on the primary and supplementary cards are waived.
3. UOB One Card
Enjoy Singapore’s most generous rebate card with the UOB One Card. You will surely get the most out of your card because of these fantastic rebates and benefits below:
- Up to 10% rebate on Grab and UOB Travel
- Up to 6% rebate on Singapore Power utility bill
- Up to 5% rebate on ALL spend
- Up to 24% savings on Petrol
- Up to 3.88% p.a. Deposit Interest Rate on UOB One Account* when you spend on UOB One Card
With only a minimum of five spends, you get to enjoy all those perks above! Also, once you get a card with UOB, you can get a welcome gift of up to $230. However, UOB charges $192.60 of an annual fee (free on the first year) on the primary card and $96.30 for the supplementary cards.
You would undoubtedly love using your credit card every single day with the POSB Everyday Card. You can offset your purchases with cashback that never expires at over 200 outlets using your DBS lifestyle application and enjoy the following rebates:
- 15% cash rebates on online food delivery and online catering
- 20.1% savings at SPC
- 2% cash rebate at Speedycare
- 1% cash rebate on electricity bills
- 5% cash rebates on groceries
- 0.3% cash rebates on everything else
If you are not into spending thousands and thousands of purchases every month, you can still get the perks of getting an excellent rebate card with the Maybank Family and Friends Card. You can enjoy up to 8% of cash backs on any of the following:
- Transport and Petrol (Bus and Train rides, Petrol stations, Ride-hailing services)
- Data Communication and Online TV Streaming (Starhub, Singtel, M1 Limited, Circle.Life, MyRepublic, Netflix, others)
- Learning and Retail (Popular, Toys “R” Us, Yamaha Music)
- 0.3% cash rebates on everything else
If you spend $0-499 for a month, you can get 0.3% rebates. For $500-799, you can have as much as a 5% rebate, and for $800, you can get 8% of cashback. There are other benefits when using the Maybank Family and Friends card, and you can check out their website for more info.
Their annual fees are free for the first three years and $180 for the succeeding years. Nothing to worry, the supplementary card has a free annual fee for life! If you have an annual income of $30,000, you will surely be qualified for this card.
Did you know you can earn cashback seven days a week, and 365 days a year? It is possible with the OBCB 365 Credit Card! This is the summary of the cash rebates that you can get with OCBC 365 Card:
- 6% a month on local and overseas dining and online food delivery
- 3% a month on online, local, and overseas groceries
- 3% a month on land transportations
- 5% a month on petrol
- 3% a month on utilities
- 3% a month on online travel (online air and cruise tickets, online hotel and tour bookings)
- 0.3% a month for the rest of the purchases
You would need to spend at least $800 to take advantage of the cashback above, and a monthly statement of less than $800 would fall into the base 0.3% rebate.
What if we tell you that the American Express True Cashback Card has no minimum purchase for you to get a cashback? That’s right! This is indeed one true cashback card! As you are welcomed into American Express, you can get a welcome bonus of 3% cashback when you spend $5,000 in your first six months.
After the welcome bonus, you would continuously get 1.5% of unlimited cashback on all eligible purchases, with no minimum spend and no earn cap, like other banks. You can also accelerate your rewards by getting $20 CapitaVoucher each for the first two approved supplementary cards. You can also get 1% of an additional rebate on all your foreign currency to spend.
The annual fee for this card is $171.20 for the primary card and $85.60 for the first two supplementary cards, and all are waived during the first year. Enjoy world-class service and perks with American Express!
If you like living your life online, the DBS Live Fresh Card is for you! This card is perfect for millennials who like to live fresh! Aside from being a credit card, the DBS Live Fresh Card can be used on ATMs and transit needs. Just hop on the bus and train, and the fares will be charged directly on your card.
Going back to the main buzz, which is the cashback benefits, this card is perfect for online spenders where you can earn 5% of cashback on online, and Visa Contactless Spend, including the fare, rides mentioned above. The rest of the purchases will be at 0.3%, and you should have a minimum spend of $600.
If you are a young professional who has just started having a job and you are still figuring out a way to manage your finances, you should check the Citibank SMRT Card. With just a minimum spend of $300, you can enjoy these perks below:
- 5% savings on groceries
- 5% savings on fast food, movies, and coffee
- 3% savings on online shopping.
You can redeem your SMRT cashback for cash rebates or vouchers, and enjoy saving up little by little with the Citibank SMRT Card.
Live a good life every day with the Standard Chartered Unlimited Cashback Credit Card. In simple words, you can earn 1.5% of rebates on all your purchases without a minimum spend and a cashback cap. You can also get 21% of fuel savings with Caltex.
The annual fee is waived for the first two years, and it will be at $192.60 moving forward. Spend more and earn more with the Standard Chartered Unlimited Cashback Credit Card!
Getting the Best Cashback Credit Cards
In choosing the perfect cashback credit card for you, you must assess your lifestyle and spending limit. These banks offer a wide range of minimum spending allowance, and it is up to you to figure it out and manage your finances in a way that you can earn more rebates.
Getting a credit card does not always have to be putting yourself up in dealing with monthly debts; these cashback credit cards can help you manage your finances wisely once used properly. Enjoy your shopping spree without any worries with these cards, but never forget to spend your finances wisely!