Citi Cash Back+ Mastercard® Card Review: 1.6% Cashback On All Spend

The Citi Cash Back+ Mastercard is considered one of the best cashback credit cards around, and with good reasons.

Unlike most cashback cards, it's a fuss-free cashback card that doesn't have stringent requirements, offering unlimited 1.6% cashback on practically every category without any minimum spend and cashback cap. This makes the Citi Cash Back+ Card a great fit for those who prefer a simple and convenient way of earning cashback on their spending. 

In this review, we'll take a look at who the Citi Cash Back+ Mastercard is good for and how it fares against other cashback credit cards.

Citi Cash Back+ Credit Mastercard overview

Citi Cash Back+ Mastercard product summary:

• 1.6% unlimited cashback on all eligible retail spend

• No minimum spend required

• No cap on cashback earned

• Instant cashback redemption via SMS or Citibank SG app

• Up to S$1 million complimentary travel insurance coverage when you charge your full travel fare to the card

• Annual fee: S$196.20 (First year waived; 9% GST w.e.f. 1 Jan 2024)

• Annual income requirement: S$30,000 (Singaporeans/PRs), S$42,000 (Foreigners)

• Minimum age: 21

6 Reasons to get the Citi Cash Back+ Credit Mastercard

#1: Enjoy competitive cashback rate of 1.6%

Earn 1.6% unlimited cashback on all your credit card spend, anytime and anywhere, regardless of the category you spend in (excluding bills). 

#2: No minimum spend required 

Earn 1.6% unlimited cashback regardless of how much you spend, even if it's just S$10. 

#3: No cap on cashback earned

The sky’s the limit. Even if you are a big spender and can shell out thousands of dollars each month, you'll earn unlimited cashback. 

#4: Cashback you earn does not expire 

The cashback that you earn from your spending goes back into your card account and will not expire. You can also redeem your cashback instantly on-the-go with Citi Pay with Points or for cash rebates via SMS or the Citibank SG app.

The caveat is that your cashback can only be redeemed in blocks of S$10, capped at S$50 per redemption. So if you haven't accumulated enough cashback, you won't be able to redeem and offset your next month's credit card bill just yet.

(In the meantime, you'll have to just continue spending with the Citi Cash Back+ Card. 😜)

#5: First-year annual fee waiver 

Your annual fee of S$196.20 will be waived for the first year. But subsequently, you can request for a fee waiver via the Citi Mobile App or CitiPhone Banking. 

Read also: How To Ask For Credit Card Annual Fee Waivers 

#6: Periodic welcome promotions

When signing up for a new credit card, I'm sure we all love receiving a warm welcome in the form of a generous welcome offer – and the Citi Cash Back+ Mastercard is no exception. 

You can regularly find welcome promotions on SingSaver, from Apple AirPods, Dyson products, Sony headphones, or bonus cashback. 

Citi Cash Back+ Mastercard: What fees and charges should you look out for?

Here are the fees and charges you could incur with the Citi Cash Back+ Card.

• Annual fee: S$196.20 (First year waived; 9% GST w.e.f. 1 Jan 2024), S$98.10 per Supplementary Card

• Minimum monthly payment: 1% of current balance plus 1% of outstanding instalment amounts plus all interest charges plus all upfront service fees of instalment plans plus late payment charges or S$50 plus any overdue amounts

• Overlimit fee: S$40

• Branch service fee: S$10.80

• Late payment charge: S$100

• Interest on purchases: 27.9% p.a. subject to compounding if full payment is not made by the payment due date

• Interest on cash advance: 27.9% p.a. compounded daily on the amount withdrawn from the transaction date until full payment is made

• Cash advance fee: 8% of amount withdrawn or S$15, whichever is greater

Eligibility criteria

• At least 21 years old

• Annual income requirement for Singaporeans/PRs: S$30,000

• Annual income requirement for Foreigners: S$42,000

How to apply?

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

• Front and back of NRIC/Passport/Employment Pass

• Salaried employees: Past 12 months' CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment or latest original computerised payslip

• Self-employed: Last 2 years' Income Tax Notice of Assessment and last 3 months' bank statements

Who should get the new Citi Cash Back+ Mastercard? 

If you want a cashback card that’s good for all categories

Different credit cards have different cashback rates for specific categories. These may include groceries, dining, petrol, travel, retail, entertainment and more.

For those that do not want the hassle of trying to optimise your spending for the different categories, the Citi Cash Back+ Mastercard could be a great credit card to have in your wallet. With the Citi Cash Back+ Mastercard, you will be earning some form of cash back regardless of what you buy (i.e. which category you spend on) and how much you spend.

If you want a cashback card but don't want to be subjected to a minimum spend criteria

Some cashback cards only give you higher cashback rates if you hit the minimum spend. However, for many fresh graduates and those starting their career, it is unlikely that you will be spending so much every month. With no minimum spend imposed, you can earn 1.6% cashback regardless of how much you spend.