If you’re looking to maximise your spending power and enjoy attractive rewards, cashback credit cards may be the perfect fit for you. In Singapore, the array of options can be overwhelming, but fear not – we’ve done the legwork to help you find the best cashback credit cards that suit your lifestyle and spending habits. Whether you’re a frequent shopper, a foodie, or a travel enthusiast, there’s a cashback credit card that can unlock significant savings and rewards for you.
Navigating the world of cashback credit cards can be daunting, but with the right information, you can make an informed decision that benefits your finances. From unlimited cashback to exclusive perks and promotions, the best cashback credit cards in Singapore offer a range of features to cater to your needs. With our comprehensive guide, you’ll gain insights into the top recommendations and the highest cashback rates available, allowing you to make the most of your everyday purchases and expenses.
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Short on time? No worries! This quick guide highlights the top cashback credit cards in Singapore for different spending habits:
- High Spenders: UOB One Card – Maximize cashback with up to 5% on all spending (capped at $300/quarter).
- Foodies & Grocers: Citi Cash Back Card – Earn up to 8% cashback on dining, groceries, and petrol (capped at $25/category/month).
- Everyone: OCBC 365 Card – Versatile cashback on dining (up to 6%), groceries & online shopping (3%), and petrol (5%) (capped at $80/month).
- Low Spenders: CIMB Visa Signature Card – Great for groceries, beauty, and pet shops (10% cashback, capped at $100/month), with 0.2% on all other spending.
- No Minimum Spend: UOB Absolute Cashback Card – Straightforward 1.7% cashback on all purchases.
Remember, the best card depends on your spending habits! Consider signup bonuses, fees, and cashback categories before applying.
Understanding Cashback Credit Cards
If you’re looking for a way to save money on everyday expenses, cashback credit cards can be a great option. These cards offer cashback rewards on purchases made with the card, which can help you save money over time. In this section, we’ll take a closer look at how cashback credit cards work and the different types of cashback credit cards available.
How Do Cashback Credit Cards Work?
Cashback credit cards work by offering you a percentage of your purchases back as cashback rewards. The cashback rate can vary depending on the card and the type of purchase you make. For example, some cards may offer a higher cashback rate for purchases made at supermarkets or petrol stations.
When you use a cashback credit card to make a purchase, you’ll earn cashback rewards based on the cashback rate for that purchase. The cashback rewards are typically credited to your account at the end of each billing cycle.
Types of Cashback Credit Cards
There are several types of cashback credit cards available, each with its own unique features and benefits. Here are some of the most common types of cashback credit cards:
- Flat-rate cashback cards: These cards offer a flat cashback rate on all purchases, regardless of the type of purchase you make.
- Tiered cashback cards: These cards offer different cashback rates for different types of purchases. For example, you may earn a higher cashback rate for purchases made at supermarkets or petrol stations.
- Rotating category cashback cards: These cards offer a higher cashback rate for purchases made in specific categories that rotate on a quarterly basis. For example, you may earn a higher cashback rate for purchases made at department stores one quarter, and then at restaurants the next quarter.
- Bonus category cashback cards: These cards offer a higher cashback rate for purchases made in specific bonus categories that you select. For example, you may earn a higher cashback rate for purchases made at restaurants or travel.
When choosing a cashback credit card, it’s important to consider the cashback rates, fees, and other features to find the card that best fits your spending habits and financial goals.
Top Cashback Credit Cards in Singapore
If you’re looking for a credit card that can help you earn cashback on your spending, you’re in luck. Singapore has a wide range of cashback credit cards to choose from, each with its own rewards and benefits. Here are some of the top cashback credit cards in Singapore:
UOB One Card
The UOB One Card is one of the most popular cashback credit cards in Singapore. With this card, you can earn up to 5% cashback on your spending, depending on how much you spend each month. The more you spend, the higher your cashback rate. In addition, you can earn up to 10% cashback on your Grab rides and up to 5% cashback on your groceries.
Citi Cash Back Card
The Citi Cash Back Card is another great option for earning cashback in Singapore. With this card, you can earn up to 8% cashback on your dining, groceries, and petrol expenses. In addition, you can earn up to 20% cashback on your online shopping with selected merchants.
American Express True Cashback Card
The American Express True Cashback Card is a great option if you’re looking for a simple and straightforward cashback credit card. With this card, you can earn up to 1.5% cashback on all your spending, with no minimum spend required. In addition, you can enjoy exclusive dining and shopping privileges with American Express Selects.
Standard Chartered Simply Cash Credit Card
The Standard Chartered Simply Cash Credit Card is another great cashback credit card in Singapore. With this card, you can earn up to 1.5% cashback on all your spending, with no minimum spend required. In addition, you can enjoy exclusive dining and shopping privileges with Standard Chartered’s Good Life programme.
OCBC 365 Card
The OCBC 365 Card is a great option if you’re looking for a cashback credit card that offers rewards on a wide range of spending categories. With this card, you can earn up to 6% cashback on your dining, groceries, and online shopping expenses. In addition, you can earn up to 3% cashback on your telco bills and recurring bills.
Tip
For an optimal cashback strategy, consider pairing UOB One Card with OCBC 365 Card.
By using the UOB One Card for high-value spending to maximize cashback rates, and the OCBC 365 Card for everyday expenses like dining, groceries, and telco bills, you can earn substantial rewards across various categories.
Remember to keep track of your spending patterns to leverage the benefits of each card effectively and make the most out of your cashback rewards!
Maximising Your Cashback Rewards
Are you using your cashback credit card to its full potential? Here are some tips to help you maximise your rewards and get the most out of your card.
Understanding the Fine Print
Before you start using your cashback credit card, make sure you understand the terms and conditions. Check for any minimum spend requirements, cashback caps, and annual fees. Some cards may require you to spend a certain amount each month to qualify for cashback, while others may limit the amount of cashback you can earn. Knowing these details can help you plan your spending and avoid any surprises.
Optimising Spending Categories
Many cashback credit cards offer higher cashback rates for specific spending categories, such as dining, groceries, or petrol. Take advantage of these categories by using your card for purchases in these areas. Some cards may also offer rotating categories that change every quarter, so make sure to check for any updates. By optimising your spending categories, you can earn more cashback on your everyday purchases.
Leveraging Sign-Up Bonuses
Cashback credit cards often offer sign-up bonuses, which can be a great way to boost your rewards. These bonuses usually require you to spend a certain amount within a specified time frame, so make sure you can meet the requirements before applying. Some cards may also offer additional bonuses for referring friends or family members. By leveraging these sign-up bonuses, you can earn even more cashback in a short amount of time.
By understanding the fine print, optimising your spending categories, and leveraging sign-up bonuses, you can maximise your cashback rewards and get the most out of your cashback credit card.
Cashback Credit Card Strategies
When it comes to using cashback credit cards in Singapore, having a strategy can help you maximise your rewards. Here are some tips to help you get the most out of your cashback credit card.
Everyday Spending
For everyday expenses, such as groceries and transport, look for a cashback credit card that offers high cashback rates for eligible spending. Some cards offer up to 8% cashback on groceries and petrol, so be sure to compare different cards to find the one that best suits your needs.
Online Shopping
If you frequently shop online, look for a cashback credit card that offers high cashback rates for online shopping. Some cards offer up to 5% cashback on online purchases, so you can earn rewards while shopping from the comfort of your own home.
Dining and Entertainment
For dining and entertainment expenses, look for a cashback credit card that offers high cashback rates for eligible spending. Some cards offer up to 8% cashback on dining and entertainment, so you can enjoy your favourite meals and activities while earning rewards.
Remember to always pay your credit card bills on time and in full to avoid interest charges and late payment fees. By using your cashback credit card wisely, you can earn rewards on your regular expenses and save money in the process.
Additional Benefits and Considerations
Supplementary Cards
When considering the best cashback credit cards in Singapore, it’s essential to look at the option of supplementary cards. Many providers offer the benefit of supplementary cards for family members, allowing you to earn cashback on their spending as well. This can significantly boost your overall cashback earnings, making it a valuable consideration.
Travel Perks
If you’re a frequent traveller, it’s worth exploring the travel perks offered by different cashback credit cards. Look for cards that provide benefits such as travel insurance, airport lounge access, and exclusive discounts on travel-related expenses. These perks can add substantial value to your card and enhance your overall travel experience.
Exclusive Promotions
Keep an eye out for exclusive promotions and offers that come with cashback credit cards. Some cards provide special deals on overseas spend, dining, entertainment, and more. These promotions can help you maximise your cashback rewards and make your card even more rewarding for everyday transactions and worldwide purchases.
Comparing Cashback and Other Rewards Cards
If you’re looking for a credit card that rewards you for your spending, you might be wondering whether a cashback or rewards card is the best choice for you. Here’s a breakdown of the differences between cashback, miles, and points-based rewards cards.
Cashback vs Miles
Cashback cards offer you a percentage of your spending back in cash, while miles cards offer you points that can be redeemed for flights and other travel-related expenses. If you’re someone who loves to travel, a miles card might be a good choice for you. However, if you prefer to have cash in your pocket, a cashback card might be a better fit.
One of the benefits of cashback cards is that you can use the cash you earn for anything you want, whether it’s paying off bills or treating yourself to something special. Miles cards, on the other hand, are limited to travel-related expenses, so you might not get as much flexibility.
Cashback vs Points
Points-based rewards cards offer you points for your spending, which can be redeemed for a variety of rewards, including merchandise, gift cards, and travel. While these cards can offer more flexibility than miles cards, they can also be more complicated to use.
Cashback cards, on the other hand, offer a simple and straightforward way to earn rewards. You’ll earn a percentage of your spending back in cash, which you can use for anything you want.
When comparing cashback and points-based rewards cards, it’s important to consider the redemption options available. Some points-based rewards cards might offer more valuable rewards, but they might also have restrictions on how you can redeem your points.
Managing Your Cashback Credit Card
Getting a cashback credit card in Singapore is a great way to earn rewards on your everyday expenses. However, it’s important to manage your card properly to avoid high interest rates and make the most out of your rewards. Here are some tips to help you manage your cashback credit card.
Meeting the Minimum Income Requirement
Before applying for a cashback credit card, make sure you meet the minimum income requirement. This requirement varies depending on the credit card provider, but it’s usually around S$30,000 per annum. If you don’t meet this requirement, your application may be rejected.
Avoiding High Interest Rates
One of the downsides of cashback credit cards is that they often come with high interest rates. To avoid paying high interest rates, make sure you pay your balance in full every month. If you can’t pay your balance in full, try to pay as much as you can to reduce the amount of interest you’ll have to pay.
Another way to avoid high interest rates is to choose a credit card with a low interest rate. Some cashback credit cards offer a low interest rate for the first few months or a low interest rate on balance transfers. Look for these features when choosing a cashback credit card.
Specialised Spending Categories
When it comes to selecting a cashback credit card, it’s essential to consider your regular spending habits. Some credit cards offer higher cashback rates for specific spending categories, allowing you to maximise your savings. Here’s a breakdown of the specialised spending categories to consider:
Petrol and Transport
If you frequently spend on petrol or public transport, look for a cashback credit card that offers attractive rebates for these expenses. Some cards provide higher cashback rates for petrol purchases at specific stations, while others offer discounts for public transport rides.
Groceries and Supermarkets
For your grocery shopping needs, it’s beneficial to choose a card that provides substantial cashback rewards for purchases at supermarkets. Look out for cards that offer cashback at major supermarket chains such as Sheng Siong, as this can significantly impact your overall savings.
Home and Utilities
When it comes to managing household expenses, a cashback credit card that offers rewards for utility bill payments can be incredibly advantageous. Look for cards that provide cashback for expenses such as electricity, water, and gas bills, allowing you to save on essential utilities.
By strategically selecting a cashback credit card that aligns with your spending patterns, you can make the most of your everyday purchases and enjoy substantial savings.
Navigating Seasonal and Special Promotions
When it comes to cashback credit cards, the rewards don’t stop at the standard cashback rates. Many credit card issuers offer seasonal and special promotions to help you maximise your cashback rewards. In this section, we’ll explore some of the promotions you can expect and how to navigate them.
Festive Season Cashback
During festive seasons such as Christmas or Chinese New Year, many credit card issuers offer special cashback promotions. These promotions can range from higher cashback rates on specific categories such as dining, shopping or travel, to cashback bonuses for hitting a certain spending threshold.
To make the most of these promotions, you should keep an eye out for them in advance. Follow credit card issuers on social media or subscribe to their newsletters to receive updates on upcoming promotions. You can also check comparison sites such as SingSaver to find out which credit cards are offering the best festive season cashback promotions.
Limited-Time Offers
In addition to festive season cashback promotions, credit card issuers also offer limited-time offers throughout the year. These offers can include higher cashback rates on specific categories, cashback bonuses for hitting a spending threshold, or even sign-up bonuses for new cardholders.
To take advantage of these limited-time offers, you need to act fast. Keep an eye out for them on credit card issuers’ websites or social media pages, and make sure to read the terms and conditions carefully before signing up. You can also check comparison sites such as SingSaver to find out which credit cards are offering the best limited-time cashback promotions.
Frequently Asked Questions
What’s the ultimate cashback credit card for massive purchases in Singapore?
If you’re planning to make large purchases, the UOB One Card is a great option. It offers up to 5% cashback on all spend, capped at $300 per quarter. To qualify for the maximum cashback, you’ll need to spend at least $2,000 per month for three consecutive months.
Which credit card offers the most exhilarating 5% cashback deal?
The HSBC Visa Platinum Credit Card offers a 5% cashback on all recurring bills and online purchases. The cashback is capped at $60 per month, and a minimum spend of $600 is required to qualify for the cashback.
Are there any unlimited cashback credit cards that truly stand out in Singapore?
Yes, the UOB Absolute Cashback Card offers unlimited cashback on all spend with no minimum spend required. You’ll earn 1.7% cashback on all spend, with no cap on the amount of cashback you can earn.
How does the Citi cashback card stack up against Singapore’s best?
The Citi Cash Back Card offers up to 8% cashback on dining, groceries, and petrol spend. However, the cashback is capped at $25 per category per month, and a minimum spend of $888 is required to qualify for the cashback. While it’s a great option for those who frequently dine out, it may not be the best choice for those who spend more on other categories.
Which credit card is renowned for its acceptance and cashback perks across Singapore?
The OCBC 365 Card is widely accepted across Singapore and offers cashback on a wide range of categories, including dining, groceries, petrol, and online shopping. You’ll earn up to 6% cashback on dining spend, 3% cashback on groceries and online shopping, and 5% cashback on petrol. The cashback is capped at $80 per month.
What’s the best choice for a credit card if you’re a low spender seeking high cashback rewards?
If you’re a low spender, the CIMB Visa Signature Card is a great option. It offers 10% cashback on groceries, beauty, and pet shops, with a minimum spend of $800 per month. The cashback is capped at $100 per month. Additionally, it offers 0.2% cashback on all other spend with no minimum spend required.
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