The Best Cashback Credit Cards in Singapore This 2017

|Posted by | Credit Cards

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With the best cashback credit cards in Singapore, you save money on your favourite activities and everyday expenses.

Updated 2 June 2017.

Of the many ways credit cards can save you money, using a cashback credit card to earn rebates is perhaps the most straightforward.

These cards can help you save money as you indulge in your favourite activities, and come to the rescue should you want to reduce daily expenses. The latest cards even give you rebates regardless of what you spend on, allowing you to save a few dollars every day.

To help you choose the most suitable cashback card for you, here’s our rundown of the best cashback credit cards in Singapore for 2017.

Best Cashback Credit Cards in Singapore 2017

Cashback Rate Cashback Cap Minimum Spend Required Features and Promotions
HSBC Advance Credit Card Up to 3.5% all spend
Up to 16% discount at Caltex and Shell
Up to S$125 per month Above S$2,000 per month = 2.5% cashback
S$2,000 or less per month = 1.5% cashback
Sign up for an Advance banking account and receive 1% bonus cashback (max 3.5% cashback), higher cashback cap of $125 per month, and perpetual card fee waiver

Welcome gift, choose from:

  • S$120 cashback
  • S$138 Gold Class Movie Card
Standard Chartered Unlimited Cashback Credit Card 1.5% all spend No limit None 3% cashback on foreign currency transactions (until 30 Jun 17)

Welcome gift, choose from:

  • S$138 cashback
  • S$150 Uber credits
  • S$150 Caltex StarCash

Comes with EZ-Reload, can double up as EZ-Link card

Citi Cash Back Visa Card 8% groceries, petrol and dining S$25 per category per month Min spend of S$888 per month Welcome gift: additional S$120 cashback when you spend S$200 per month for 6 consecutive months
Comes with EZ-Pay, can be used for ERP payments
OCBC 365 Credit Card



Dining:
– 6% on weekends
– 3% on weekdays, and overseas dining

3% on online shopping

Up to 23.9% at Caltex, and 18.3% at Esso

Up to 5% at all other petrol stations

3% at supermarkets islandwide

3% on recurring telco bills
S$80 per month Min spend of S$600 per month

 

Additional benefit for CDA Trustees:

3% cashback on medical spend transacted over the counter (dental, clinics, hospitals and cord blood banking).

Best for Highest Cash Rebate: HSBC Advance Credit Card

The HSBC Advance Credit Card promises an enticing cash rebate of up to 3.5%, applicable across all spend. As the latest cashback credit card on the market, it provides an exciting degree of versatility – no more juggling between cards just to fit narrow cashback requirements.

HSBC Advance Credit CardHSBC Advance Credit Card

Although there is a limit to the amount of cash rebate you can earn this way, the maximum cap is a market-leading S$125 per month. But, there’s no minimum spend required – you’ll be earning cashback from the very first dollar you charge. 

However, these attractive terms come with conditions attached.

For starters, you have to charge more than S$2,000 to the card per statement month in order to qualify for 2.5% cashback. If you charge less, you’ll receive 1.5% cashback. Also, the maximum cashback you can receive is S$70 per month.

Next, signing up for an Advance banking account will net you an additional 1% cashback (which gives you up to 3.5% maximum cashback), while also raising your monthly cashback cap to S$125 a month.

The above notwithstanding, the HSBC Advance Credit Card stands out for the sheer amount of cashback you can potentially earn – a cool S$1,500 per year.

More importantly, earning the maximum cashback is not too much of a stretch. Charging just under under S$3,600 per month will do the trick.

Combine that with the card’s friendly minimum annual income requirement, and perpetual fee waiver offer, and it’s not hard to see why this is our pick for Number 1 cashback credit card on the market.

SingSaver.com.sg exclusive offer: We’re giving away a S$150 NTUC FairPrice voucher to all successful applicants of the HSBC Advance Credit Card – just spend at least S$600 within the first month of card approval to qualify! 

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR Foreigners Annual Fee Fee Waiver Effective Interest Rate
21 to 65 years old
S$30,000 minimum annual income
21 to 65 years old
S$40,000 minimum annual income, with valid employment pass
S$192.60 (GST included) 1 year
Perpetual waiver for Advance banking customers
25.9% per annum

What We Like

  • Up to 3.5% cashback on all spend
  • Up to S$125 maximum cashback, highest in the market
  • No minimum spend required to earn cashback
  • Attractive welcome offers

What We Don’t Like

  • Minimum spend of S$2,000 per month
  • HSBC Advance banking account required to unlock enhanced benefits

Get This Card If You…

  • Want to enjoy highest cashback rates. Provided your banking needs and spending range fits, this card will give you the highest savings you can find among cashback cards on the market today.

Best for High Potential Savings: Standard Chartered Unlimited Cash Back Card

This newly launched credit card by Standard Chartered comes with an attractive suite of welcome offers and features aimed at helping you save money while making your everyday commute just a little bit better.

standard-chartered-unlimited-cashback-cardHSBC DCP Promo

For starters, you can use the Standard Chartered Unlimited Cashback Credit Card as an EZ-Link card, thanks to its bundled EZ-Reload function. You’ll also get to choose from 3 welcome offers – Uber credits, Caltex StarCash (for petrol and related use), as well as a straight-up cash credit worth S$138.

And from now till 30 June 17, this card will also give you 3% cashback on all transactions conducted in foreign transactions.

But all that aside, how does it perform in its primary function of saving you money? Well, with a base cashback rate of 1.5% on all spend, and no cashback cap, the rebates you can earn is limited only by your credit limit. 

And, coupled with the ability to serve as your EZ-Link card, this is one card you’ll be keeping close at hand.

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

21 to 65 years old
S$30,000 minimum annual income
21 to 65 years old
S$60,000 minimum annual income, with valid employment pass
S$192.60 (GST included) 2 years 25.9% per annum

What We Like

  • 1.5% cashback on all spend, no cashback cap
  • 3% cashback on foreign currency transaction (until 30 Jun 2017)
  • No minimum spend required
  • May be used as EZ-Link card
  • Attractive welcome offers

What We Don’t Like

  • 25 cents fee per EZ-Reload top-up (charged by EZ-Link)

Get This Card If You…

  • Seek everyday savings. With EZ-Link capability, and automatic 1.5% discount on everything, this credit card could prove to be a valuable everyday companion.

Best for Household Savings: Citi Cash Back Visa Card

Here’s a card that gives you 8% savings on three of the most common household expenditures – dining, groceries and transport.

Citi Cash Back CardHSBC DCP Promo

With the Citi Cash Back Visa Card (which you can use for your ERP fees, by the way), you can get up to S$25 cash back per each of these 3 categories per month. This translates to a potential savings of S$900 per year – sufficient for a weekend family getaway or two. Add in the S$120 cashback welcome offer and you could save over S$1,000 in your first year.

As for groceries and dining, you’ll earn 8% on all supermarkets and grocers in Singapore, and 8% at all cafes, restaurants and F&B outlets globally.

Car owners will get savings of up to 20.88% at Esso and Shell, so even weekend drivers can benefit from the full cashback on petrol. All other petrol spend will earn you 8% cashback.

Don’t own a car? The Citi Cash Back Card lets you save money on Grab rides throughout 2017! Apply for the card before 31 May 2017 to enjoy a welcome offer of 7 free rides. Then, hook this card up to GrabPay to get 20% cashback on all your Grab rides until 6 July 2017. From this date onward, you get 8% cashback on Grab rides.

SingSaver.com.sg exclusive offer: We’re giving away a S$100 NTUC FairPrice voucher to all successful applicants of the Citi Cash Back Visa Card! Hurry and apply today!

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

At least 21 years old
S$30,000 minimum annual income
At least 21 years old
S$42,000 minimum annual income
S$192.60 (GST included) 1 year 26% per annum, rising to 29% per annum if account falls into default


What We Like

  • Up to 20.88% cashback at Esso and Shell, 8% cashback at all other petrol stations
  • 8% cashback at all supermarkets and grocers in Singapore
  • 8% cashback at all cafes, restaurants and F&B outlets globally
  • 20% cashback on Grab rides until 6 July 2017; thereafter, 8% cashback on Grab rides
  • Additional S$120 cashback as welcome offer
  • Can be used for ERP payments

What We Don’t Like

  • Minimum spend of S$888 per month required to earn cashback
  • Cashback for groceries, petrol, and dining capped at $25 per month per category
  • Cashback for Grab rides capped at S$50 per month

Get This Card If You…

  • Want household savings. You can reduce your household budget and stretch your money just a little bit more with this card.
  • Want maximum petrol savings. The high cashback earn rate at Esso and Shell can help you maximise your fuel savings, even if you don’t drive frequently.

Best for Everyday Savings: OCBC 365 Credit Card

If you’re looking for a card that will give you cash rebates on most of your family activities, you should check out the OCBC 365 Credit Card.

OCBC 365 CreditCard-no bgOCBC 365 Credit Card

This card gives you cashback on petrol, dining, online shopping (you can pair this card with Lazada credit card promotions), groceries and even your recurring telco bills. The cashback earn rate may not be as high as other cards, but the OCBC 365 Credit Card covers more categories, which means more opportunities and flexibility for you to earn cashback. 

Another advantage of this card is the generous monthly cashback cap – you can earn up to S$80 in rebates per month, or just slightly under S$1,000 a year.

SingSaver.com.sg exclusive offer: We’re giving away a S$100 Chope voucher to all successful applicants of the OCBC 365 Card! Offer valid until 30 Jun 2017 only!

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

At least 21 years old
S$30,000 minimum annual income
At least 21 years old
S$45,000 minimum annual income
S$192.60 2 years 25.92% per annum

What We Like

  • Up to 23.9% savings on petrol
  • 6% cashback on weekend dining, and 3% on weekday and overseas dining
  • 3% cashback on online shopping, groceries and telcos

What We Don’t Like

  • Minimum spend of S$600 per month to earn cashback
  • Cashback capped at $80 per month

Get This Card If You…

  • Like flexible ways to save money. With cashback applied across multiple spend categories, the OCBC 365 Credit Card gives you plenty of opportunities to earn rebates and reduce your budget.  

You can use SingSaver.com.sg’s free comparison tools to compare cashback credit cards in Singapore.

Read This Next:

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Clash of the Cashback Cards: Standard Chartered vs American Express


Alevin ChanBy Alevin Chan
A Certified Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimize happiness and enjoyment in his life.