Best Cashback Credit Cards in Singapore

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Best cashback credit cards

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.

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.

However, 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. However, always pay off your credit card in full each month to avoid high interest charges.

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

 

 

What we like:

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

What we don’t like:

  • 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 $888 per month to earn cashback.

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

Qualifying criteria and card fees

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

$30,000 minimum annual income

21 yrs and above

$42,000 minimum annual income

$192.60 1 year 26.9% per annum

What we like:

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

What we don’t like:

  • Monthly minimum spend of $888 to earn cashback
  • Category cashback cap of $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, and its upcoming refresh could see it becoming the top pick in your wallet too.

From 1 Oct onwards, you’ll enjoy 6% cashback on dining and online food delivery all week, instead of just 3% on weekdays. Also, enjoy cashback on new spending categories such as online travel and ride-hailing services.

The card will also expand its cashback to cover worldwide spending on many of the existing categories, making it even easier for you to earn cashback.

However, there’s a downside: the monthly minimum spending will increase to $800.

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


What we like:

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

What we don’t:

  • Minimum spend of $800 per month to enjoy cashback (from 1 Oct)
  • Monthly cashback cap of $80 per month

Apply for this card if you: 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. 

Qualifying Criteria and Card Fees

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

OR

$10,000 fixed deposit collateral

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

OR

$10,000 fixed deposit collateral

$192.60 1 year 25.9% per annum

What we like:

  • High cashback of 12% for dining, entertainment and Grab (during promo period)
  • 3% cashback on online fashion and travel
  • High potential monthly savings of up to $100 (during promo period)

What we don’t like:

  • Minimum spend of $600 per month to enjoy cashback
  • Non-promo cashback cap at $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 online for the best cashback credit cards

Use SingSaver’s free online comparison tool to compare the best cashback credit cards in Singapore. Receive up to $200 worth of gifts and vouchers when you apply with SingSaver online.

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Read This Next:

Best Credit Cards for Paying Your Utility Bills in Singapore
Cashback or Rewards Credit Cards: Which is Better?


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.