Best Cashback Credit Cards Singapore 2024
updated: Nov 07, 2024
Looking to get more from your spending in Singapore? Cashback credit cards could be your answer. These cards are all the rage, letting you earn as you shop. Let's check out the top cashback credit cards in Singapore. We'll help you find the right one for your spending habits and maybe even treat yourself to some shiok rewards!
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Best Cash Back Credit Cards
| credit_card | Cashback Local | Cashback Overseas | Monthly Spend Required | Annual Fee | offers_rewards | apply | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Up to 8% | 8% | S$ 800.00 per month | S$ 196.20 | eligible_rewards (9) | on_provider_website | eligible rewards (9) on_provider_website | |||||||
1.5% | 1.5% | None | S$ 196.20 | eligible_rewards (7) | on_provider_website | eligible rewards (7) on_provider_website | |||||||
Up to 8% | Up to 8% | S$ 600.00 per month | S$ 196.20 | eligible_rewards (5) | on_provider_website | eligible rewards (5) on_provider_website | |||||||
Up to 10% | 0.3% | S$ 800.00 per month | S$ 196.20 | eligible_rewards (1) | on_provider_website | eligible rewards (1) on_provider_website | |||||||
2.5% | 2.5% | S$ 0 | S$ 196.20 | eligible_rewards (5) | on_provider_website | eligible rewards (5) on_provider_website | |||||||
6% | 0.5% | None | No Annual Fee | eligible_rewards (7) | on_provider_website | eligible rewards (7) on_provider_website | |||||||
Up to 3.25% | 3.25% | None | S$ 196.20 | eligible_rewards (5) | on_provider_website | eligible rewards (5) on_provider_website | |||||||
Up to 20% | Up to 3.33% | S$ 2,000.00 | S$ 196.20 | eligible_rewards (1) | on_provider_website | eligible rewards (1) on_provider_website | |||||||
Up to 6% | Up to 6% | S$ 800.00 per month | S$ 196.20 | eligible_rewards (1) | on_provider_website | eligible rewards (1) on_provider_website | |||||||
1.5% | 1.5% | None | S$ 174.40 | N/A | on_provider_website | on_provider_website | |||||||
Our Pick For Best Unlimited Cashback Card: Standard Chartered Simply Cash Credit Card
Standard Chartered Simply Cash Credit Card
on_provider_website
| Cashback Local | 1.5% |
|---|---|
| Cashback Overseas | 1.5% |
| Monthly Spend Required | None |
| Annual Fee | S$ 196.20 |
| REWARDS | |
| |
eligible_rewards (7)
card_details
Our Pick For No Minimum Spend: Citi Cash Back+ Card
Citi Cash Back+ Card
on_provider_website
| Cashback Local | Up to 3.25% |
|---|---|
| Cashback Overseas | 3.25% |
| Monthly Spend Required | None |
| Annual Fee | S$ 196.20 |
| REWARDS | |
| |
eligible_rewards (5)
card_details
Our Pick For Online Shopping: DBS Live Fresh Card
DBS Live Fresh Card
on_provider_website
| Cashback Local | Up to 6% |
|---|---|
| Cashback Overseas | Up to 6% |
| Monthly Spend Required | S$ 800.00 per month |
| Annual Fee | S$ 196.20 |
| REWARDS | |
| |
eligible_rewards (1)
card_details
Our Pick For Fuel: POSB Everyday Card
POSB Everyday Card
on_provider_website
| Cashback Local | Up to 10% |
|---|---|
| Cashback Overseas | 0.3% |
| Monthly Spend Required | S$ 800.00 per month |
| Annual Fee | S$ 196.20 |
| REWARDS | |
| |
eligible_rewards (1)
card_details
Our Pick For Groceries: UOB One Card
UOB One Card
on_provider_website
| Cashback Local | Up to 20% |
|---|---|
| Cashback Overseas | Up to 3.33% |
| Monthly Spend Required | S$ 2,000.00 |
| Annual Fee | S$ 196.20 |
| REWARDS | |
| |
eligible_rewards (1)
card_details
Our Pick For Dining: UOB Lady's Card
UOB Lady's Card
on_provider_website
| Cashback Digital Wallet | 2.8% |
|---|---|
| Cashback Base Rate | 0.2% |
| Monthly Spend Required | None |
| Annual Fee | S$ 196.20 |
card_details
Our Pick For Flat Cashback Rate: American Express True Cashback Card
American Express True Cashback Card
on_provider_website
| Cashback Local | 1.5% |
|---|---|
| Cashback Overseas | 1.5% |
| Monthly Spend Required | None |
| Annual Fee | S$ 174.40 |
card_details
Understanding Cashback Credit Cards in Singapore
Cashback credit cards in Singapore help you save money on everyday buys. They are popular among smart shoppers wanting to boost their spending power.
What are cashback credit cards?
Using a cashback credit card in Singapore can save you a lot over time. Here are the main advantages:
-
Earn money on everyday spending
-
Simple rewards system compared to points or miles
-
Potential for higher returns in preferred spending categories
-
No need to redeem points or worry about expiry dates
By picking the right cashback credit card for your life, you can turn your regular costs into valuable rewards. It's a clever way to make your money work harder for you in Singapore's lively financial scene. Whether you're buying kopi o at the local kopitiam or splurging on a fancy dinner at Marina Bay Sands, your card can help you earn while you spend.
A cashback credit card in Singapore rewards you with a part of your spending back as cash. This cash can go towards your account or pay for future buys.
How do cashback credit cards work?
When you pay with your cashback credit card, you get a percentage of the cost back. This can be from 1.6% to 15%, based on the card and what you buy. Some cards give the same rate for all buys, while others offer more for things like eating out or groceries.
Benefits of using cashback credit cards
Using a cashback credit card in Singapore can save you a lot over time. Here are the main advantages:
-
Earn money on everyday spending
-
Simple rewards system compared to points or miles
-
Potential for higher returns in preferred spending categories
-
No need to redeem points or worry about expiry dates
By picking the right cashback credit card for your life, you can turn your regular costs into valuable rewards. It's a clever way to make your money work harder for you in Singapore's lively financial scene. Whether you're buying kopi o at the local kopitiam or splurging on a fancy dinner at Marina Bay Sands, your card can help you earn while you spend.
Best Cashback Credit Cards in Singapore for 2024
Singapore's credit card market offers many cashback options for different spending habits. Let's look at some top cashback credit cards for 2024.
The Citi Cash Back+ Mastercard is a standout with its simple 1.6% cashback on all spending. It's great for those who like easy-to-understand rewards without any spending limits.
For petrol lovers, the OCBC 365 Credit Card gives up to 6% cashback on fuel buys, and 3% on dining and online shopping. This card suits varied spending habits well.
The DBS Live Fresh Card is ideal for tech lovers, offering 6% cashback on local and overseas shopping spend and transport spend. It's perfect for those who take public transport frequently and enjoys relying on a card for your daily expenditures.
|
Card Name |
Main Cashback Feature |
Annual Fee |
|---|---|---|
|
Citi Cash Back+ Mastercard |
1.6% on all spend |
S$196.20 (waived first year) |
|
OCBC 365 Credit Card |
Up to 6% on petrol |
S$196.20 (waived with S$10,000 annual spend) |
|
DBS Live Fresh Card |
6% cashback on local and overseas shopping spend and transport spend |
S$196.20 (waived first year) |
The best cashback credit card for you depends on your spending and lifestyle. Think about your main expenses when picking a card to get the most rewards. Whether you're choping seats at hawker centres or booking staycations at Changi Jewel, there's a card to suit your needs.
Comparing Flat-rate vs. Category-based Cashback Cards
In Singapore, you'll find two main types of cashback credit cards: flat-rate and category-based. Each type has its own benefits, fitting different spending habits and lifestyles.
Advantages of flat-rate cashback cards
Flat-rate cashback cards are simple and consistent. You get the same cashback on all purchases, no matter what you buy. This is great for those with varied spending. It makes budgeting easier.
Benefits of category-based cashback cards
Category-based cards give you more cashback in certain spending areas, like dining, groceries, or petrol. If your spending matches these areas, these cards can be very rewarding.
Which type suits your spending habits?
Your choice depends on how you spend and what you like. Let's look at the differences between the two:
|
Aspect |
Flat-rate Cashback |
Category-based Cashback |
|---|---|---|
|
Cashback Rate |
Consistent (e.g., 1.5% on all purchases) |
Varied (e.g., 8% on dining, 2% on groceries) |
|
Simplicity |
High |
Moderate |
|
Potential Rewards |
Moderate |
High (if spending matches categories) |
|
Flexibility |
High |
Limited to specific categories |
If you like simplicity and have varied spending, a flat-rate card might be best. For big expenses in certain areas, a category-based card could give you more rewards. Some cards offer both, giving flexibility and high returns in key areas.
Maximising Your Cashback Rewards: Tips and Strategies
To get the most from your cashback credit card in Singapore, plan smartly. Here are some top tips to boost your rewards:
Track your spending patterns to choose the right cashback credit card
Combine multiple cards to maximise benefits across different categories
Pay attention to minimum spend requirements and cashback caps
Use your cashback credit card for all eligible purchases
Set up automatic bill payments with your card
Use a category-based cashback credit card for high-spend areas and a flat-rate card for everything else. This way, you're always earning the highest cashback rate.
When picking your cashback credit card, watch out for annual fees. Some cards waive fees if you spend a certain amount, which can increase your rewards.
Card Type | Best For | Typical Cashback Rate |
|---|---|---|
Flat-rate | General spending | 1.5% - 1.8% |
Category-based | Specific categories (e.g., dining, petrol) | 3% - 8% |
Unlimited | High spenders | 1.5% - 2% |
The secret to getting the most cashback rewards is to match your spending with the right card. This way, every dollar you spend helps you earn more, whether you're buying char kway teow at your favourite hawker centre or splurging on a new laptop.
Unlimited Cashback Credit Cards: Are They Worth It?
Unlimited cashback credit cards are becoming more popular in Singapore. They let you earn rewards on all your spending without limits. Let's see if they're a good fit for you.
Pros of unlimited cashback credit cards
These cards are easy to use. You get a fixed percentage back on every purchase no matter what you buy or how much. This also makes tracking your spending simple and ensures you always get rewards. They're especially good for those who spend a lot.
Cons to consider
But, these cards usually offer lower reward rates than those based on spending categories. They might also have higher annual fees or require you to spend a certain amount. Make sure the unlimited rewards really suit your spending habits before choosing.
Top unlimited cashback options in Singapore
Several banks in Singapore offer great unlimited cashback credit cards. Here's a look at some top picks:
|
Card Name |
Cashback Rate |
Annual Fee |
Min. Spend |
|---|---|---|---|
|
Standard Chartered Simply Cash Credit Card |
1.5% |
$196.20 (waived first 2 years) |
None |
|
American Express True Cashback Card |
1.5% |
$174.40 (waived first year) |
None |
|
Maybank FC Barcelona Visa Signature Card |
1.6% |
$121.20 (waived with min. spend) |
None |
When picking an unlimited cashback credit card, think about how you spend money. Compare it with credit cards that offer rewards based on what you buy. For some, the ease and consistency of unlimited rewards are more valuable than higher rates in certain categories. It might be worth it if you're a big spender who loves to indulge in local delights like laksa and chendol without worrying about reward limits.
Cashback Credit Card Fees and Charges to Watch Out For
When picking a cashback credit card in Singapore, look at the fees and charges. These can affect how much you earn in rewards.
Annual fees are common. Some cards don't charge this fee for the first year or if you spend a lot. Foreign transaction fees can add up if you use your card abroad a lot. Interest rates are key too, especially if you don't pay off your balance.
Fee Type | Typical Range | Impact on Rewards |
|---|---|---|
Annual Fee | $0 - $200 | Can offset cashback earnings |
Foreign Transaction Fee | 2.5% - 3.5% | Reduces value of overseas purchases |
Interest Rate | 25% - 28% p.a. | Can negate cashback if balance carried |
To get the most from your cashback credit card, pay off your bill every month. This avoids interest charges. Look for cards with no fees or ones that match your spending to make sure rewards are worth it.
Find the best cashback credit card by balancing good rewards with low fees. Compare different cards to pick one that fits your lifestyle and spending in Singapore. Remember, being kiasu about your rewards is good, but don't let it make you siao and overspend!
How to Choose the Best Cashback Credit Card for Your Lifestyle
Finding the right cashback credit card in Singapore can be a bit tricky. You need a card that matches your spending habits and offers great value. Learning how to choose the best credit card based on your lifestyle will ensure you get the most out of your card's rewards.
Assessing your spending patterns
First, examine where you spend most of your money. Do you eat out a lot? Shop online? Pay for petrol? Knowing this helps you choose a card that rewards your usual spending.
Evaluating card features and benefits
Look at different cashback credit cards. Some offer high rates on certain categories, while others give a flat rate on all spending. Also, check for extra perks like sign-up bonuses or travel insurance. These can make your card even more valuable.
Considering annual fees and minimum spend requirements
Don't overlook the costs. Some cashback credit cards have yearly fees. Others require you to spend a certain amount each month to earn rewards. Ensure these costs fit your budget and spending habits.
|
Card Type |
Best For |
Things to Watch |
|---|---|---|
|
Flat-rate |
Consistent spenders |
Lower cashback rates |
|
Category-based |
Specific spending habits |
Cashback caps |
|
Unlimited |
High spenders |
Higher annual fees |
By considering these factors, you can find a cashback credit card that boosts your rewards and fits your lifestyle in Singapore. Whether you're using it for your weekly grocery run at NTUC or treating yourself to a staycation at Marina Bay Sands, the right card can make your spending more rewarding.
Conclusion
Cashback credit cards in Singapore are a great way to earn rewards on your daily spending. You can pick from flat-rate or category-based cards for big savings all year. It's important to think about how you spend and what you want to achieve with your money when picking a card.
Unlimited cashback cards offer lots of flexibility, but think about their downsides too. Look at the annual fees, minimum spend needs, and how much you earn back. Comparing cashback welcome offers is another smart way to ensure you're getting the most bang for your buck when signing up for a new credit card. Choosing the right cashback card in Singapore means your money can do more for you.
Compare different cards and read the details before you apply. With a smart choice, a cashback card can be a powerful financial tool. Make a well-informed choice and start getting cash back on your buys today! Whether you're sipping kopi at your local kopitiam or enjoying a fancy dinner at Jewel Changi, let your card work hard for you.
Cash Back Credit Cards Frequently Asked Questions (FAQs)
What are cashback credit cards?
Cashback credit cards let you earn cash back on your spending. You get a percentage of your spending back as a reward. This cash back can be used as a statement credit, deposited into your bank, or in other cash forms.
How do cashback credit cards work?
With these cards, you earn cash back on your purchases. The rate can be the same for all spending or higher for certain categories like groceries or petrol. You can then redeem this cash back once you've reached a certain amount.
What are the benefits of using cashback credit cards?
These cards give you a discount on your spending by returning a percentage of your spending as cash. This can reduce your expenses and offer a financial benefit. They are also simpler to use and redeem than other rewards programs.
What is the difference between flat-rate and category-based cashback cards?
Flat-rate cards give the same cashback on all purchases. Category-based cards offer more cashback on specific categories like groceries or petrol, but less on others.
What are some tips for maximising cashback rewards?
To get the most cashback, use different cards for different spending. Always pay off your balance each month to avoid interest. This way, you can keep the value of your cashback rewards high.
Are unlimited cashback credit cards worth it?
Unlimited cashback cards are great for those who spend a lot or have big expenses in certain areas. But, they often have higher fees and requirements. Make sure the rewards are worth the costs for you.
What fees and charges should I be aware of with cashback credit cards?
Cashback cards offer rewards, but watch out for fees like annual, foreign transaction, and interest charges. These can reduce the value of your rewards if not managed well.
How do I choose the best cashback credit card for my lifestyle?
Pick the right card by looking at your spending in areas like dining, groceries, and petrol. Then, check the card's features and benefits to match your spending and lifestyle. Don't forget to consider annual fees, minimum spend, and any special offers.
Can I use my cashback credit card for everyday purchases like kopi and local hawker food?
Absolutely! Many cashback credit cards in Singapore are great for everyday purchases. You can earn rewards on your daily kopi, local hawker meals, and even your MRT rides. Just make sure to check if there are any minimum transaction amounts required to earn cashback.
Are there any cashback credit cards that offer rewards for shopping at popular Singapore retailers?
Yes, many cashback credit cards in Singapore offer rewards for shopping at popular local retailers. Some cards have partnerships with stores like NTUC FairPrice, Cold Storage, or even online platforms like Lazada and Shopee. Check the card details to see which retailers are included in their cashback programme.