5 Cashback Credit Cards That Will Help You Save The Most Money

Denise Bay

Denise Bay

Last updated 05 January, 2023

Credit cards can help you save money if you pick the right one for your lifestyle and use it to your advantage.

In search of credit cards that will save you the most money in the new year? Cashback credit cards with generous cashback rewards are a great way to start. 

Not only is cashback the most straightforward to understand compared to credit card rewards like miles and rewards points, cashback is also universally loved — anyone and everyone can appreciate getting cash rebates

With the right cashback credit card, you can potentially save lots of money on purchases you would have made anyway. 

To give you a leg up, we’ve gathered the five most rewarding cashback credit cards you can count on year-round. Read on to find out which cashback credit card could be the right fit for you and your lifestyle!


Table of contents

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🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Click here to check out our past Lucky Draw winners!

 


#1: Maybank Family & Friends Credit Card

The Maybank Family & Friends Card lets you earn up to 8% cashback for five spend categories across eight options: 

  • Groceries
  • Dining & Food Delivery
  • Transport
  • Data Communication & Online TV streaming 
  • Retail & Pets
  • Online Fashion
  • Entertainment
  • Pharmacy & Wellness 

To earn the full 8% cashback on your selected spend categories, all you have to do is make a minimum monthly spend of S$800 on your credit card. You’ll earn unlimited 0.3% cashback on all other spend.  

Apart from having flexibility in choosing your own preferred spend categories that best fit your lifestyle, you’ll be pleased to know that the maximum cashback you can earn per calendar month is capped at S$125 — each category can earn a maximum of S$25 per month.  

Maximum cashback: S$125 x12 = S$1,500

Unlimited cashback: 0.3% 

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Maybank Welcome Gift: Receive the following rewards when you sign up for a Maybank Family &  Friends Card (Team Cashback):

Maybank Horizon & F&F BAU Offer_BLOGARTICLE_800x250

Get up to 10,000 KrisFlyer Miles (in form of 25,000 TREATS Points) or S$200 cashback or Apple AirPods (3rd generation) with Lightning Charging Case (worth S$263.80) or a Samsonite ENOW Spinner 69/25 Luggage (worth S$570) when you apply for Maybank Family and Friends Card and spend a minimum of S$1,300 within the first two months of card approval. Valid till 6 June 2024. T&Cs apply.


#2: UOB One Credit Card

The UOB One Card is a versatile cashback credit card that allows you to earn up to 3.33% cash rebate on literally everything you purchase.

Plus, an additional 5% or 6.67% cash rebate on McDonald's (new!), SimplyGo, Shopee, Grab, Dairy Farm International (e.g. Cold Storage, Giant, Marketplace, Jasons, Jasons Deli, CS Fresh, Guardian, 7-Eleven), and UOB Travel transactions (i.e. up to a total of 10%). 

💡Pro-tip: If you're a new-to-UOB card applicant, that bumps up your 10% to 15% cashback instantly. This is delivered in the form of enhanced cashback of either 6.67% or 5%.

Curious?

Well, you'll earn the 3.33% cash rebate if you spend S$2,000, S$1,000 or S$500 per statement month for each qualifying calendar quarter (i.e. S$200, S$100 or S$50 cash rebate per quarter respectively).

You can enjoy the extra 5% rebate if you qualify for the S$50 or S$100 quarterly cash rebate. If you qualify for the S$200 quarterly cash rebate, you'll instead enjoy the extra 6.67% rebate on eligible transactions.

Take note the additional cash rebate you can earn on qualifying McDonald's, Shopee, Dairy Farm International, Grab, SimplyGo and UOB Travel transactions is generously capped at S$100 per month! If you drive, be sure to pump at SPC as this card lets you save up to 22.66%.

That’s not all. You can enjoy up to 7.8% p.a. interest on your UOB One savings account as you spend on your UOB One Card. 

Maximum cashback: S$200 x 4 = $800

Bonus maximum cashback: S$100 x 12 = $1,200 

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

UOB One Card Welcome Gift: Enjoy the following rewards when you sign up for a UOB One Card (Team Cashback):

Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmembers with a minimum spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 June 2024. T&Cs apply.


#3: CIMB Visa Signature Credit Card

Want a cashback credit card that comes without annual fees for life? Enter CIMB Visa Signature Card. This card lets you earn 10% cashback on online shopping, groceries, beauty/wellness, pet shops/veterinary services and cruises and unlimited 0.2% cashback on all other spend. 

To earn the 10% cashback — capped at S$100 per statement month, and S$20 per category — simply consolidate your expenses and make a minimum spend of S$800 in the statement month. 

If you have pets, frequently shop online, adore visiting hairdressers, massage parlours, spas, and purchase groceries regularly, this credit card might be the one for you. It is pretty rare to find a credit card that gives you cashback on veterinary services!

Also, you can give your family the same card benefits at no extra charge; CIMB offers up to four free supplementary cards.  

Maximum cashback: S$100 x 12 = S$1,200

Unlimited cashback: 0.2% 

Welcome Offer: Receive S$88 Cashback when you make a minimum of S$108 eligible spends within 30 days of card approval date. Plus, receive S$100 Cashback (S$188 in total) when you increase your minimum eligible spends to S$988 within 60 days of card approval date. Valid till 31 July 2024. T&Cs apply.


#4: HSBC Visa Platinum Credit Card

The HSBC Visa Platinum Card lets you earn 5% cashback on dining, groceries (including online groceries) and fuel so long as you meet the minimum monthly spend of S$600 consecutively for a calendar quarter. Plus, you’ll earn 1X reward points for every S$1 charged to your card. 

For those who drive, pumping at Caltex and Shell stations is a surefire way to drive home happier thanks to the (up to) 17% instant discount and 5% cashback you can earn on your fuel spend. 

With HSBC Visa Platinum Card, take note that the cashback is capped at S$250 per calendar quarter. As for the rewards points, you can redeem them for cash credit or miles. 

Another money-saving feature exclusive to HSBC credit cards? Free ENTERTAINER with HSBC access. With this complimentary perk, you can enjoy a slew of 1-for-1 dining, lifestyle and hotel deals year-round. 

Maximum cashback: S$250 x 4 = S$1,000

Enjoy the following rewards when you sign up for an HSBC Visa Platinum Card:

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⚡Flash Deal⚡: Get a PlayStation 5 Disc Version (worth S$799) or a Dyson Airwrap (worth S$859) or S$500 e-capita Vouchers when you are one of the first 500 to apply and spend a minimum of S$500 by the end of the following calendar month from the card account opening date. Remaining applicants will enjoy SingSaver Exclusive rewards. Valid till 4 June 2024. T&Cs apply

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SingSaver's Exclusive Offer: Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th 10.2" WiFi 64GB (worth S$508.30) or S$350 eCapitaVoucher or 21K Max Miles upon activating and spending min. S$500 by the end of the following calendar month from the card account opening date. Valid till 4 June 2024. T&Cs apply.

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Plus, upgrade your rewards when you top up S$200 to get a Sony Portable Theatre System HT-AX7 (worth $$759). Alternatively, top up S$1,099 for an Apple MacBook Air 13” (M3 chip) 256GB (worth S$1,599) or an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Valid till 4 June 2024. T&Cs apply.


#5: Citi Cash Back Credit Card

The Citi Cash Back Card is popular for good reason — it lets you earn 6% cashback on grocery shopping (both online and at major supermarkets) and dining at restaurants, cafes, fast food eateries, and caterers. Plus, cardholders can enjoy 8% cashback on fuel spend (up to 20.88% savings at Esso and Shell). [Update] It also offers up to 8% bonus rate for private commute. This applies regardless of whether you’re spending locally or abroad. 

To earn the 8% and 6% cashback, simply consolidate your expenses and make a minimum spend of S$800 in the statement month. All other spending will earn unlimited 0.20% cashback. 

Even though Citi Cash Back Card comes with a monthly S$80 cashback cap, it is nice to know that you aren’t required to spend an equal or almost equal amount on these three categories to maximise your savings since the S$80 cashback cap applies across all three bonus categories. 

Apart from getting complimentary travel insurance coverage of up to S$1 million when you charge your travel tickets to this card, you also gain excess to Citi World Privileges, which offers dining, lifestyle, travel and shopping deals locally and in 95 other countries. 

Maximum cashback: S$80 x 12 = S$960 

Unlimited cashback: 0.20%

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Receive the following rewards when you sign up for a Citi Cashback Card (Team Cashback):

Citi_CC_KV2_BLOGARTICLE_800x250

SingSaver's Exclusive Offer: Get a Dyson Supersonic (worth S$699) or an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$529) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$450 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 2 June 2024. T&Cs apply.

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Plus, upgrade your rewards when you top up S$999 for an Apple MacBook Air 13” (M3 chip) 256GB (worth S$1,599) or an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Alternatively, top up S$1,488 for a Samsung Galaxy S24 Ultra Titanium Gray 12+512GB 5G (worth S$2,128). Valid till 6 June 2024. T&Cs apply.

 

While Denise has a thing for travel, K-dramas, 0% sugar bbt (with boba!), Japanese cuisine and flat white, her curious nature means all sorts of random tabs are open on her phone 24/7. She doesn’t like to pay full price for anything, too.

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