Best Cashback Credit Cards in Singapore 2019

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Best Cashback Credit Cards Singapore 2019

The best cashback credit cards in Singapore help you save money on your daily spending in a convenient and easy way.

Cashback credit cards offer perhaps the most straightforward type of “reward” for consumers. Simply charge your spend to a cashback card, and you automatically receive a rebate off your purchase as “cash back”.

READ MORE: Cashback or Rewards Credit Card: Which is Better?

Caveats exist of course: cashback is usually awarded on specific categories (dining, shopping, transport), and some cards come with a) a cap on how much cash rebates you can receive per month and b) a monthly minimum total spend on the card. But there are also cards that do not have these restrictions.

To help you compare and apply for the best cashback credit cards and maximise your savings, we present our top four recommended cashback cards for 2018.

Editor’s note: This is an unsponsored and unbiased review. Credit card offers are subject to change at any time. The article was last updated on 1 Feb 2019.

1. Standard Chartered Unlimited Credit Card: Best for large-ticket items

The drawback of most cashback cards is the limit on rebates you can earn each month. But not with the Standard Chartered Unlimited Credit Card.

This cashback credit card comes with no monthly cap and no minimum spend required. This means you’ll earn cashback from the very first dollar you charge.

The cashback clocks in at 1.5%, which at first glance may not seem terribly enticing. But if you spend a lot, your savings add up right before your eyes. Use this card for large-ticket items and you’ll save in a really big way, especially since there’s no cashback cap. This means that a S$10,000 purchase will save you a whopping S$150 in cashback!

However, be sure to always pay off your credit card in full each month to avoid the high interest charges. Alternatively, use a low-EIR balance transfer to manage your repayment (instead of 0% instalment plans which give you 0 rewards).

Qualifying Criteria and Card Fees

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

Why we love this card:

  • No minimum spend and no monthly cap
  • Earn cashback on all spends
  • Doubles up as EZ-link card

But do take note:

  • Cashback at 1.5%

Apply for this card if you: Value convenience over having to keep track of spending categories, or charge a significant amount to your credit card every month. 

standard-chartered-unlimited-cashback-cardApply for travel insurance

 

2. Citi Cash Back Visa Card: Best for weekend grocery shopping or dining

If you bring the family out for weekend dining and grocery shopping, the Citi Cash Back card is a good cashback credit card to have in your wallet.

It comes with a generous 8% cashback at virtually every stop of your trip, be it at your neighbourhood supermarket, your favourite eatery, and whether you use Grab to and fro. But you’ll need to spend a monthly minimum spend of S$888 per month to earn cashback.

Cashback amounts are also capped at S$25 per category per month (dining, groceries and transport) but this can already save you S$75 each month.

Qualifying criteria and card fees

Singaporeans/PR Foreigners Annual fee Fee waiver Effective Interest Rate
21 yrs and above

S$30,000 minimum annual income

21 yrs and above

S$42,000 minimum annual income

S$192.60 1 year 26.9% per annum

Why we love this card:

  • High cashback of 8% on three common spending criteria – dining, groceries and transport
  • High potential monthly savings of up to S$100
  • Card can be used for ERP payments

But do take note:

  • Monthly minimum spend of S$888 to earn cashback
  • Category cashback cap of S$25 per month

Get this card if you: Consistently spend on eating out, grocery shopping, and ride-hailing or petrol costs

Apply for credit card

 

3. OCBC 365 Credit Card: Best for all-round savings

The OCBC 365 Card is one of our favourite cashback credit cards for all-round savings. 

Enjoy 6% cashback on dining and online food delivery all week, and 3% cashback on new spending categories such as online travel, and local and overseas taxis and private hire rides.

If you drive, the OCBC 365 Card offers amazing cashback of 5% on fuel spend at all petrol service stations, and up to 23% savings at Caltex and up to 20.4% savings at Esso (till 31 March 2019).

However, there’s a downside: the monthly minimum spending is S$800, otherwise your cashback rate is only 0.3%.

Qualifying Criteria and Card Fees

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

Minimum of 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 26.88% per annum

Why we love this card:

  • Cashback eligible spending categories are now more relevant than ever, and cover worldwide transactions
  • 6% cashback on dining and online food delivery
  • 3% cashback on ride-hailing, online travel, and recurring telco and utilities

But do take note:

  • Minimum spend of S$800 per month to enjoy cashback
  • Monthly cashback cap of S$80 per month

Apply for this card if you: Drive often and want to save across a wide variety of transactions common to your lifestyle.

OCBC 365 CreditCard-no bgApply for credit card

 

4. UOB YOLO Card: Best for the party crowd

The UOB YOLO Card is best for busy millennials who often dine or hang out with friends and use Grab for their frequent commutes. Enjoy upsized cashback of 8% on weekend spending, including dining, online shopping, and entertainment.

Apply by 31 March 2019 and get S$100 worth of free Grab rides!

Qualifying Criteria and Card Fees

Singaporeans/PR Foreigners Annual fee Fee waiver Effective Interest Rate
21 yrs and above with S$30,000 minimum annual income 

OR

S$10,000 fixed deposit collateral

21 yrs and above and S$40,000 minimum annual income

OR

S$10,000 fixed deposit collateral

S$192.60 1 year 25.9% per annum

Why we love this card:

  • High cashback of 8% for weekend spend on dining, entertainment, and Grab 
  • 3% cashback on weekday spend including online fashion and travel

But do take note:

  • Minimum spend of S$600 per month to enjoy cashback
  • Non-promo cashback cap at S$60 per month

Apply for this card if you: Like to club, dine out, have brunch, cafe-hop, and watch movies. 

Apply for credit card

 

 Compare and apply for the best cashback credit cards on SingSaver

Use SingSaver’s free online comparison tool to compare the best cashback credit cards in Singapore.

Compare Credit Cards

 

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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.