5 Credit Cards That Will Help You Save The Most Money in 2022

Denise Bay
Last updated Dec 24, 2021

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!

#1 Maybank Family & Friends Card

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% 

SingSaver Exclusive Offer: Get S$20 cash via PayNow upon card approval when you apply for this card. Valid till 20 Feb 2022. T&Cs apply. 

Receive a Garmin vívomove Style worth S$469 when you apply for a Credit Card and a CreditAble account and make a min. spend of S$300 per month for two consecutive months. Valid for the first 2,000 applicants. Remaining applicant get S$100 cashback. Terms and Conditions apply.

#2 UOB One Card

UOB One Card is a versatile cashback credit card that allows you to earn up to 5% cash rebate on literally everything you purchase. Plus, another 5% cash rebate on Shopee, Grab services, Dairy Farm Group merchants (e.g. Cold Storage, Giant, Guardian, 7-Eleven), and UOB Travel Planner transactions (i.e. a total of up to 10%). 

Its cashback is tiered — you’ll earn 5% cash rebate if you spend S$2,000 per statement month for each qualifying quarter (i.e. S$300 cash rebate per quarter) and 3.33% cash rebate if you spend S$1,000 or S$500 per statement month for each qualifying quarter (i.e. S$100 and S$50 cash rebate per quarter). 

Additionally, the extra 5% cash rebate you can earn on Shopee, Dairy Farm Singapore, Grab and UOB Travel 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 24%.

That’s not all. You’ll enjoy up to 2.5% p.a. interest on your UOB One savings account as you spend on your UOB One Card. 

Maximum cashback: S$300 x 4 = $1,200

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

Welcome Offer: Receive S$150 cashback if you are among the first 100 new-to-UOB cardmembers to make a min. spend of S$1,500 within 30 days of card approval. Valid till 31 Dec 2021. T&Cs apply.

#3 CIMB Visa Signature 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 gift: Receive a set of Sony WF-1000XM3 Wireless Noise Cancelling Headphones worth $219 or $150 cash when you make a min. spend of S$500 for two consecutive 30-day periods following card approval. Valid till 28 February 2022. T&Cs apply.

#4 HSBC Visa Platinum Card

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

Welcome Gift: Score up to S$200 cashback when you apply via SingPass MyInfo and make a min. spend of S$500. Valid till 28 Feb 2022. T&Cs apply. Pick your HSBC Credit Card now!

#5 Citi Cash Back Card

Citi Cash Back Card is popular for good reason — it lets you earn 8% cashback on grocery shopping, both online and at major supermarkets, 8% cashback on fuel spend (up to 20.88% savings at Esso and Shell), and 6% cashback on dining at restaurants, cafes, fast food eateries, and caterers. 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 0.25% 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: 0.25%

Grab an Apple AirPods Pro (worth S$379) or a Ninja Foodi 8-in-1 Multi Cooker – OP300 (worth S$499) or S$350 cash when you make a min. spend of S$500 within 30 days of card approval. Valid till 20 Jan 2022. T&Cs apply. Pick your Citibank card here!

Read these next:
Top Credit Card Promotions And Deals On SingSaver
Best Cashback Credit Cards In Singapore
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
4 Types Of Credit Cards With Lifetime Annual Fee Waivers
Best Grocery Credit Cards in Singapore

By Denise Bay
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.

Denise Bay December 24, 2021 81931