Looking for a credit card that offers cash rebates on your daily essentials? Look no further than POSB Everyday Credit Card Singapore. This all-rounded cash rebates credit card allows you to earn cash rebates that never expire, making it a great option for those looking to save money on their everyday purchases.
With POSB Everyday Credit Card, you can enjoy up to 10% cash rebates on your daily essentials when you dine, shop online, or purchase groceries. You can also earn up to 5% fuel savings at SPC and up to 20.1% + 2% savings on your purchases. Plus, you can earn Daily$ cash back and spend it directly at participating merchants, to offset bills, or pay for goods and services with PayLah.
In this quick review, we will take a closer look at the benefits of POSB Everyday Credit Card Singapore, so you can decide if it’s the right credit card for you. From its cash rebates to its fuel savings, we will cover everything you need to know about this popular credit card.
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Looking for a no-frills cashback card for everyday essentials? Look no further than the POSB Everyday Credit Card. It offers up to 10% cashback on groceries, dining, online shopping, and bill payments, with no minimum spend required. Plus, enjoy additional perks like 5% cashback at Sheng Siong, 8% cashback at RedMart, and up to 20.1% fuel savings at SPC.
Key benefits:
- Up to 10% cashback on everyday spending
- No minimum spend requirement
- Cashback never expires
- Widely accepted as a Mastercard
Things to consider:
- Limited cashback categories compared to some cards
- No bonus cashback for new sign-ups or spending milestones
- No travel insurance or lounge access
Overall:
A good option for those who want a straightforward cashback card with no minimum spend requirement. Consider other cards if you seek bonus cashback or additional perks.
Overview of the POSB Everyday Card
If you’re looking for a credit card that offers cash rebates on your daily essentials, the POSB Everyday Card might be the perfect card for you. This card is designed to reward you for your everyday spending, making it a great option for those who want to save money while still enjoying their daily purchases.
Key Features
The POSB Everyday Card offers a range of features that make it an attractive option for those looking for a cashback credit card. Here are some of the key features of the card:
- Up to 10% cash rebates on daily essentials such as dining, groceries, utilities, and online shopping.
- Up to 3% cash rebates on recurring bills.
- Earn 0.4% p.a. or more when you link your card to a DBS Multiplier Account.
- 50% off family attractions and other exclusive deals.
- Up to 20.1% savings on fuel at SPC.
- Up to 10% cash rebates on online food delivery.
Eligibility Criteria
To be eligible for the POSB Everyday Card, you must meet the following criteria:
- You must be a Singaporean or Permanent Resident.
- You must be at least 21 years old.
- Your minimum income should be S$30,000 per annum for Singaporeans and Permanent Residents, and S$45,000 per annum for foreigners.
- You must have a SingPass account and MyInfo profile.
Rewards and Benefits
As an Everyday Cardholder, you can enjoy a range of rewards and benefits that make your daily spending more rewarding. Here are some of the key benefits of the POSB Everyday Credit Card:
Cash Rebates and Cashback
With the POSB Everyday Credit Card, you can earn cash rebates on your daily spending. Get up to 10% cash rebates on your groceries from Sheng Siong and RedMart, and up to 5% fuel savings at SPC. You can also earn up to 3% cash rebates on your recurring bills.
Daily$ Rewards
Earn Daily$ on your daily spending with the POSB Everyday Credit Card. You can earn up to 3% Daily$ on your online shopping at participating merchants like Watsons, Amazon.sg, Lazada, Qoo10, and Shopee. You can also earn up to 6% Daily$ on your online food delivery with Foodpanda and Deliveroo.
Exclusive Merchant Offers
Enjoy exclusive offers and discounts at participating merchants with the POSB Everyday Credit Card. Get up to 50% off at Singapore Zoo, Jurong Bird Park, Night Safari, and River Safari. You can also get up to 20% off on your health and wellness purchases at iHerb.
Usage and Management
Managing your POSB Everyday Credit Card is easy with the bank’s online and mobile banking services. You can access your account anytime, anywhere through POSB iBanking and the DBS PayLah! app.
Mobile and Online Banking
With POSB iBanking, you can view your account balance and transaction history, pay your bills, transfer funds, and set up automatic bill payments. The user-friendly interface makes it easy to navigate and manage your credit card account.
DBS PayLah! is a mobile app that allows you to make payments, transfer funds, and top up your mobile wallet. You can also use the app to pay your credit card bills, view your transaction history, and check your cashback rewards. Simply link your POSB Everyday Credit Card to your PayLah! account and you’re good to go.
Automatic Bill Payments
Setting up automatic bill payments is a convenient way to ensure that you never miss a payment. With the POSB Everyday Credit Card, you can set up recurring payments for your utility bills and telco bills. This means that your bills will be automatically charged to your credit card every month, so you don’t have to worry about remembering to pay them on time.
To set up automatic bill payments, simply log in to your POSB iBanking account and select the “Bill Payment” option. From there, you can choose which bills you want to pay automatically and set the payment amount. You can also choose to receive email notifications when your bills are due.
Tip
Want to maximize your cashback rewards? Consider using your POSB Everyday Credit Card for everyday purchases like groceries and dining out. Many merchants offer exclusive discounts and promotions for POSB cardholders, so keep an eye out for these deals to save even more.
Additionally, don’t forget to regularly check your cashback rewards balance on the DBS PayLah! app to see how much you’ve earned and redeem them for exciting rewards or statement credits.
Fees and Charges
Annual Fee
One of the most important things to consider when choosing a credit card is the annual fee. The POSB Everyday Credit Card has an annual fee of £100. However, this fee is waived for the first year. This means that you can enjoy all the benefits of the card for a year without having to pay anything. After the first year, you will be charged the annual fee, which is automatically deducted from your account.
Transaction Fees
The POSB Everyday Credit Card has a foreign currency transaction fee of 2.8%. This means that if you use your card to make a purchase in a foreign currency, you will be charged an additional 2.8% on top of the purchase price. However, this fee is waived for transactions made in Singapore dollars.
In addition, there is also a transaction fee of 3% for cash withdrawals made using the card. This fee is charged on the amount withdrawn and is subject to a minimum fee of £5.
Overlimit Fee
If you exceed your credit limit, you will be charged an overlimit fee of £40. It is important to note that this fee is charged each time you exceed your credit limit. Therefore, it is important to keep track of your spending and ensure that you do not exceed your credit limit.
Additional Perks
As if the cashback rewards weren’t enough, the POSB Everyday Credit Card also offers additional perks that make it an even more attractive option for savvy shoppers like you.
Fuel Savings
Fuel up your vehicle at SPC petrol stations and enjoy savings of up to 20.1% with your POSB Everyday Credit Card. This is a great perk for those who frequently drive and want to save on fuel costs.
Shopping and Entertainment Discounts
The POSB Everyday Credit Card also offers discounts at popular retailers such as Watsons, Taobao, Popular, Zalora, Speedycare, and Pet Lovers Centre. This means you can enjoy savings on a wide range of products, from healthcare and beauty items to pet supplies and more.
With your POSB Everyday Credit Card, you can enjoy discounts of up to 50% at family attractions and other entertainment venues. This is perfect for those who love to spend quality time with their loved ones without breaking the bank.
Application Process
How to Apply
Applying for the POSB Everyday Credit Card is quick and easy. You can apply online by visiting the POSB Everyday Card page and clicking on the “Apply Now” button. You will be asked to log in with your SingPass and MyInfo to complete the application process.
Alternatively, you can also apply for the card at any POSB or DBS branch. Just bring along your required documents and the bank staff will assist you with the application process.
Required Documents
To apply for the POSB Everyday Credit Card, you will need to provide the following documents:
- NRIC (front and back) for Singaporean and PR applicants
- Passport and Employment Pass/ S Pass/ Work Permit for foreign applicants
- Latest computerised payslip OR Latest 12 months’ CPF statement showing your latest 12 months’ contribution history OR Latest Income Tax Notice of Assessment AND Latest 3 months’ bank statement showing salary credit (for salaried employees)
- Latest 2 years’ Income Tax Notice of Assessment AND Latest 3 months’ bank statement showing income (for self-employed individuals)
- For foreigners who have just started working in Singapore, you will need to provide your employment letter and the latest computerised payslip or latest 6 months’ bank statement showing salary credit.
Once you have submitted your application, you can expect to receive a response within 7 to 10 working days. If your application is approved, you can collect your card at any POSB or DBS branch or have it delivered to your registered address.
Remember to read the terms and conditions carefully before applying to ensure that you understand the fees, charges, and credit limits of the card.
Terms and Conditions
When applying for a POSB Everyday Credit Card, it is important to understand the terms and conditions that come with it. Here are some key points to keep in mind:
Minimum Spend Requirement
To qualify for cashback, you must meet the minimum spend requirement of S$800 per calendar month. This can be broken down into a minimum spend of S$15 per transaction. If you do not meet the minimum spend requirement, you will not be eligible for cashback.
Exclusions and Limitations
There are some exclusions and limitations to the cashback program. For example, you will not earn cashback on transactions such as cash advances, balance transfers, and payment of annual fees. Additionally, the cashback program is not available for foreigners.
It is important to note that the cashback program is subject to change and may be discontinued at any time. POSB reserves the right to amend the terms and conditions of the program without prior notice.
In terms of income requirement, the POSB Everyday Credit Card is available to individuals who earn a minimum of S$30,000 per annum. If you do not meet the income requirement, you may still be eligible for the card if you have a fixed deposit with POSB.
Maximising Your Card
If you want to get the most out of your POSB Everyday Credit Card, you need to use it strategically. Here are some tips to help you maximise your rewards and cashback:
Strategic Spending
To maximise your cashback, you need to spend strategically. The POSB Everyday Credit Card offers cashback on a wide range of spending categories, including groceries, dining, and online shopping. To get the most cashback, you should focus your spending on these categories.
For example, you can earn up to 10% cashback on your groceries when you shop at Sheng Siong or RedMart. You can also earn up to 5% cashback on your dining expenses, including online food delivery. By focusing your spending on these categories, you can earn more cashback and save more money.
Linking to DBS Multiplier Account
Another way to maximise your rewards is to link your POSB Everyday Credit Card to a DBS Multiplier Account. By doing so, you can earn additional interest on your savings, which can help you grow your wealth over time.
To link your card to a DBS Multiplier Account, you need to credit your salary or make regular transactions with your card. If you credit your salary, you can earn up to 3.8% p.a. interest on your savings. If you make regular transactions with your card, you can earn up to 2% p.a. interest on your savings.
By linking your card to a DBS Multiplier Account, you can earn more rewards and grow your wealth at the same time. It’s a win-win situation!
Remember, to get the most out of your POSB Everyday Credit Card, you need to use it strategically. By focusing your spending on the right categories and linking it to a DBS Multiplier Account, you can maximise your rewards and cashback. So start using your card today and enjoy the benefits!
Customer Support and Services
If you ever need assistance with your POSB Everyday Credit Card, you can easily get help through various channels. Here are the ways you can get support:
Online Assistance
POSB offers various online channels to help you with your credit card concerns. You can access their website for general information about the card, including the rewards and benefits you can enjoy. You can also log in to your account online to manage your card, view your transactions, and pay your bills.
If you have specific questions or concerns, you can contact POSB through their online chat service. This is a quick and convenient way to get the help you need without having to leave your home.
Physical Branch Support
If you prefer to speak to someone in person, you can visit any of the POSB branches located throughout Singapore. Their staff will be happy to assist you with any questions or concerns you may have about your credit card.
In addition, POSB has introduced a new service called SpeedyCare. This service allows you to book an appointment with a customer service representative at a branch of your choice. This means that you can skip the queue and get the help you need quickly and efficiently.
Overall, POSB offers excellent customer support and services to its credit card holders. Whether you prefer to get help online or in person, POSB has you covered. With the convenience of SingPass and MyInfo, managing your credit card has never been easier.
Comparisons and Alternatives
POSB Everyday Card vs Other Cashback Cards
When it comes to cashback credit cards, there are many options available in Singapore. While the POSB Everyday Card offers competitive rewards and benefits, it’s always a good idea to compare it with other similar cards to see which one suits your needs the best.
One popular alternative to the POSB Everyday Card is the Citi Cash Back Card. This card offers up to 8% cashback on dining, groceries, and petrol, making it a great option for those who frequently spend in these categories. However, it does come with a minimum spend requirement of $888 per statement month.
Another option to consider is the HSBC Advance Credit Card. With this card, you can earn up to 3.5% cashback on all purchases, with no minimum spend required. However, to be eligible for this card, you need to have an HSBC Advance account and maintain a minimum Total Relationship Balance of $30,000.
Pros and Cons
Like any credit card, the POSB Everyday Card has its pros and cons. Here are some of the key factors to consider before deciding whether to apply for this card:
Pros
- Competitive cashback rates on dining, groceries, and petrol
- No minimum spend requirement
- Cashback that never expires
- Accepted worldwide as a Mastercard
Cons
- Limited cashback categories compared to some other cards
- No bonus cashback on new sign-ups or spending milestones
- Additional benefits, such as travel insurance and lounge access, are not included
Overall, the POSB Everyday Card is a solid choice for those looking for a straightforward cashback credit card with no minimum spend requirement. However, if you’re looking for a card with more bonus cashback categories or additional benefits, you may want to consider other options.
Frequently Asked Questions
What tantalising benefits can one enjoy with the POSB Everyday Card?
The POSB Everyday Card offers a host of tantalising benefits that make it an ideal credit card for everyday use. You can earn up to 10% cashback on your daily essentials such as dining, groceries, online shopping, and bill payments. Additionally, you can earn 5% cashback on your Sheng Siong purchases, 8% cashback on RedMart purchases, and up to 20.1% fuel savings at SPC.
How does one check their delightful rebate accumulation on the POSB Everyday Card?
You can easily check your delightful rebate accumulation on the POSB Everyday Card through the POSB mobile app or internet banking. The app allows you to view your cash rebates, redeem them for rewards, and manage your card account. You can also receive SMS alerts on your rebate earnings.
Could you enlighten me on the annual fee waiver for the POSB Everyday Card?
The annual fee for the POSB Everyday Card is S$192.60, which is waived for the first year. You can also enjoy a waiver of the annual fee for subsequent years by spending a minimum of S$6,000 per year on your card. Alternatively, you can convert your annual fee into 12 monthly instalments at a nominal fee of S$16.05 per month.
What are the current sizzling promotions available for POSB Everyday Cardholders?
As a POSB Everyday Cardholder, you can enjoy a range of sizzling promotions such as cashback on dining, groceries, and online shopping. You can also earn bonus cashback on your first three transactions and receive a welcome gift of up to S$180. Additionally, you can enjoy exclusive deals and discounts on travel, dining, and entertainment.
How quickly can I receive my POSB Everyday Card after application?
You can receive your POSB Everyday Card within 7 working days after your application is approved. If you apply online, you can track your application status through the POSB website or mobile app. You can also receive SMS alerts on your application status.
Is withdrawing cash using the POSB Everyday Card possible, and if so, how?
Yes, you can withdraw cash using the POSB Everyday Card at any POSB or DBS ATM in Singapore or overseas. The withdrawal fee is 6% of the amount withdrawn or S$15, whichever is higher. However, we recommend that you use your card for purchases instead of cash withdrawals to avoid high fees and interest charges.
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