Get more out of your monthly expenses by paying your bills with these cashback and rewards credit cards.
Paying utility bills and mobile phone bills forms the standard fixture of our monthly expenditure – which you can use to your advantage. Since you already know how much you expect to spend every month, you can plan ahead to maximise cashback or rewards every time you charge a bill to a credit card.
Think of it as money going out, but you’re earning something in return each time. Here are six credit cards in Singapore that help you maximise your spend on monthly utility and telco bills at the same time.
|Credit Card||Rebate||Eligible partners||Min. spend needed||Monthly cashback cap|
|OCBC 365||3%||Singtel, M1, StarHub.|
Power service providers such as Senoko Energy, Sembcorp Power and Keppel Electric
|S$800/month (less gets flat 0.3% cashback)||S$80/month|
|UOB One Card||3.3%||Singtel, Starhub and M1.|
Up to 3.3% cash rebate applicable on regular policy premiums from Prudential Insurance.
|S$500/month (min. 5 card transactions) for the quarter||S$50/S$100/S$300 per quarter for S$500/S$1,000/S$2,000 monthly spend|
|HSBC Advance Credit Card||1.5% or 2.5%||1.5% cashback on recurring telco bills if monthly spending. is below S$2,000.|
Monthly spend of above S$2,000 get 2.5%.
|POSB Everyday||1%||Power service providers like Geneco, iSwitch, Union Power, SP Group (including Best Electricity, Ohm Energy and Tuas Power) and StarHub||None||No cash rebates beyond $100/month|
|Maybank Family & Friends Card||Up to 8%||Starhub, Singtel, M1 Limited, Circles.Life, MyRepublic, Netflix||S$800/month to qualify for 8% cashback||S$80/month|
|Standard Chartered Unlimited Cashback||1.50%||All expenditure||None||Unlimited|
1. OCBC 365 Credit Card
The OCBC 365 Credit Card gives you a decent 3% rebate which covers 3 telcos – Singtel, StarHub and M1 – as well as power service providers such as Senoko Energy, Sembcorp Power, and Keppel Electric. But you’ll need to charge a minimum of S$800 per month on your card to qualify. Otherwise, the cashback rate falls to a measly 0.3%. S$800 a month is achievable by consolidating all your utility and telco bills on this card.
Note the rebate is capped at S$80 a month but this still comes up to a hefty S$960 per year. Besides monthly utility bills, also earn 6% rebates on dining and online delivery, 3% on grocery shopping and online groceries and 5% on fuel charges (both local and overseas spending apply for dining, grocery shopping, and fuel charges).
2. UOB One Card
The UOB One Card gives you one of the highest utility rebate at 3.3%, with a relatively low minimum spend of S$500 per month. This should not be too hard to achieve given that it covers the recurring bills of the 3 telcos (Singtel, StarHub, and M1), and your premium payments for Prudential Insurance policies also qualify. But note that the rebates are only awarded quarterly and you’ll have to clock a minimum of 5 transactions for each statement month.
You could gun for the next minimum spending tiers of S$1,000 and S$2,000 per month to wrench higher cashback cap of S$100 and S$300 respectively.
3. HSBC Advance Credit Card
An all-purpose cashback credit card, the HSBC Advance grants 1.5% on recurring utility bills if your monthly spend is below S$2,000. If you hit above S$2,000, it goes up to 2.5%. With no restrictions on which telcos or Internet Service Providers to subscribe to in Singapore, the HSBC Advance Credit Card gives you lots of flexibility.
On top of that, existing Advance banking customers enjoy an additional 1% in cashback rate, and an increased cashback cap of S$120 per month, up from S$70 for the regulars.
4. POSB Everyday Card
The POSB Everyday Card earns you 1% rebate on recurring utility bills from StarHub, Geneco, iSwitch, and Union Power, as well as the SP Group (Best Electricity, Ohm Energy and Tuas Power are engaging SP Group for its billing services). The big plus about this card? No minimum monthly spend required. But take note no cash rebates will be awarded beyond the maximum spend of $100 per month.
5. Maybank Family & Friends Card
5% cashback for S500 minimum monthly spend—that’s how low a hurdle you’d have to cross for such rates. This versatile card can go even higher: 8% cashback for S$800 minimum monthly spend. One thing that sets this card apart from the others is that you enjoy it on online TV streaming on top of the usual internet and telco bills. You won’t do your family and friends wrong if they, too, want to cut back on utilities while Netflix-ing in peace.
From now till 31 August 2020, when you apply via SingSaver, you get rewarded with S$30 via PayNow and S$100 in cashback.
6. Standard Chartered Unlimited Cashback Credit Card
Like its slogan, “the card that lets you live without limits”, the Standard Chartered Unlimited Cashback Credit Card truly lives up to its name.
This card certainly makes life simpler (and cheaper): earn 1.5% rebate on all expenditure, period. No minimum spend required. No restriction on telco or power service provider you’re signed up to.
Other perks include generous discounts on a wide range of dining, travel, hotel bookings and entertainment. We also wrote about this card as being a simple, fuss-free cash back card.
Standard Chartered’s newly launched instant credit card approval is also a great perk – receive your digital card instantly when you apply with MyInfo.
When choosing the right credit card for you, be holistic. Don’t just consider the card’s rebate rate – also ask yourself questions like:
- Can you meet the minimum monthly spend?
- How likely are you to hit the rebate cap?
- Does the card provide access to other retail perks and discounts?
For example, if you’re splitting your expenses between cards and are unlikely to reach the minimum S$800/month spend for the OCBC 365 Credit Card, you may be better off with the Maybank Family & Friends Card or the Standard Chartered Unlimited Cashback Credit Card, despite their lower rebate rates.
Similarly, the high 3.3% rebate for the UOB One Card is only good till its S$50 cap per quarter. This means you’ll have to be prepared to spend a much higher amount each month to earn up to S$300 per quarter.
Compare the best credit cards for a variety of needs with SingSaver and enjoy exclusive sign-up bonuses worth up to S$250 (and that’s on top of the banks’ own bonuses!).
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By Zann Huang
A recipient of the Magnum Foundation Emergency Grant in 2014, my photos from the Middle East and Asia have also been published in Time Magazine and Le Monde etc. My written work ranges from travel, politics (Mid-East) to the environment and finance-related matters.