Subscription Modal Banner
Weekly newsletter subscription
Get SingSaver’s top tips and deals, plus an exclusive free guide to investing, sent straight to your inbox.

I agree to the terms and conditions and agree to receive relevant marketing content according to the privacy policy.

Success Tick Icon
Congratulations on successfully joining Singsaver Newsletter

Best Credit Cards For Taobao And Latest Taobao Promotions

Alevin Chan

Alevin Chan

Last updated 04 February, 2024

Love shopping on Taobao? Here are the best credit cards to pair with your Taobao purchases and current promotions you can enjoy.

As China’s version of Amazon, Taobao is nothing short of a bargain hunter’s paradise. It offers literally everything for sale from across China, often at warehouse prices, and delivered directly to your doorstep. This cuts out middlemen and markups, letting you purchase the things you want for less. 

And as always, we’re here to help you get maximum value out of your expenditures by pairing them with the best credit card for Taobao, so let’s get to it!

Table of contents


BEST-DEAL-GUARANTEE_BLOGARTICLE_800x250 (1)

SingSaver's Best Deal Guarantee: Our Best Deal Guarantee promises you the best deal only with SingSaver. If you find a better offer elsewhere, submit a claim, and we'll reward you with double the difference. Valid till 30 April 2024. T&Cs apply.


Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.


What MCC does Taobao code under?

But first let’s clear up a few things.

We know that only credit card transactions sorted under the correct Merchant Category Code (MCC) would be eligible for credit card rewards. So, what MCC do Taobao transactions code under?

In general, your Taobao spends would be sorted under MCC 5311 (Department stores, Online shopping) if you’re using the mobile app, and MCC 5411 (Grocery stores, Supermarkets, Online shopping) if you’re using the desktop website.

Hence, your Taobao purchases should normally be recognised as online shopping transactions, and be eligible for the corresponding credit card rewards. 

This shouldn’t happen often, but your transaction may sometimes code under a different MCC, given the sheer amount of brands and manufacturers that the platform represents. If you notice this happening more than a few times, you should consider looking for another retailer on the platform that would allow you to purchase the items you want, and still have your transaction sorted as MCC 5311 or MCC 5411. 


What currency does Taobao charge?

All Taobao transactions are charged in CNY (Chinese Yuan), which means you will need to deal with foreign currency conversion fees.

Linking a local credit card to your Taobao app will allow you to pay in SGD, but doing so means you would be subject to Dynamic Currency Conversion (DCC) charges – on top of the foreign currency conversion fee charged by your card issuer. 

You can lower these fees by paying with a payment platform that does not charge a foreign conversion fee. And since we’re focused on earning credit card rewards from our Taobao shopping, the best way to have our cake and to eat it too is to pair a credit card with the Instarem amaze card. 

Pairing your credit card with the Amaze card

amaze card new

You can read our Instarem amaze card review for a detailed look under the hood, but here’s the gist.

The amaze card allows you to link up to five Singapore-issued Mastercard credit cards. When you pay with the amaze card, your Taobao transaction will be automatically converted to a SGD-denominated one, with no foreign conversion fee and a friendlier forex rate. This means you’ll enjoy some savings on the currency conversion portion of the transaction. 

At the same time, your transaction counts as an online purchase, allowing you to earn rewards on your linked credit card, just like with any other transaction. 

As an ancillary benefit, you’ll also earn Instarem points, which you can save up to redeem for cashback and other perks later on. 

With all that out of the way, let’s take a look at which credit cards are good for Taobao shopping!


Best credit cards for Taobao shopping

Credit card
Rewards from Taobao spends
10x points on online spends (4 mpd)
10x points on online spends (4 mpd)
Works with Instarem amaze card
10 UNI$ per S$5 spend (4 mpd)
Works with Instarem amaze card
10x points on online spends (4 mpd)
10x points on online spends (4 mpd)
Works with Instarem amaze card
8% cashback (capped at S$20 per category, S$60 per month) for online spends, with min. S$600 monthly spend
6% cashback on local and overseas shopping spend and transport spend (including SimplyGo)
0.3% unlimited base cashback rate on all other eligible spend

Cashback capped at S$70 per calendar month with min. S$800 monthly spend; no cashback cap on all other eligible spend
Up to 15% cashback per quarter

3.33% quarterly cashback with min. spend of S$500, S$1,000 or S$2,000 per month

Up to 6.67% additional cashback on selected merchants

Up to 6.67% enhanced cashback for new UOB card members
10% cashback (capped at S$100 per month, S$20 per category) with a min. spend of S$800 per statement month

 

DBS Woman’s World Mastercard

DBSWomansWorldMasterCard

Shopping on Taobao counts as an online transaction when you spend with the DBS Woman’s World Mastercard, which means you’ll be able to earn 10x regards points – equivalent to 4 miles per dollar (mpd)

This is just as well, as from 1 June 2022, transactions made via the amaze card are no longer eligible for rewards. 

Hence, you won’t be able to avoid the foreign currency charges, but at least you’ll still be able to earn some pretty decent rewards.


Citi Rewards Card

CITI_REWARDS_MASTER

The Citi Rewards Card recognises transactions with MCC 5311 as eligible for 10x rewards points (or 4 mpd), which means you’ll want to shop via the Taobao mobile app to earn your bonus points. 

But that’s not all. The Citi Rewards Card is one of the best cards to pair with the amaze card, as apart from travel-related transactions and your standard exclusions like insurance premiums, government services, etc., you can pretty much earn bonus reward points on most transactions, which means you can go ahead and pair the two up to squeeze out some extra savings on your Taobao spree. 

CITI_LIGHTNING_BLOGARTICLE_KV1_800x250

⚡Flash Deal⚡: Be one of the first 500 applicants to get a PlayStation 5 Disc Version (worth S$799) or Dyson Airwrap (worth S$859) or S$500 ecapitaVoucher when you apply for a Citi Card and spend a minimum of S$500 within 30 days of card approval. Remaining applicants will enjoy existing rewards. Applicable to new-to-Citibank cardmembers only. Promo runs from 9 April, 9AM SGT - 30 April 2024. T&Cs apply.

Citi CC_BLOGARTICLE_800x250

SingSaver's Exclusive Offer: Receive the following rewards when you sign up for a Citi Rewards Card:

Get a Dyson Supersonic (worth S$699) or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$508.30) or Dyson V8 Slim Fluffy (worth S$509) or S$400 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 30 April 2024. T&Cs apply.

 

Back to top


UOB Lady’s and Lady’s Solitaire Cards

uob-ladys-card
UOB Lady's Card
uob-ladys-solitaire-cardUOB Lady's Solitaire Card

UOB Lady's Card Welcome Offer: Get a chance to enjoy an exquisite dining experience for two at Michelin-starred restaurants (worth S$900) when you are one of the first 150 applicants every month during the promo period and make a min. spend of S$1,500 per month for 2 consecutive months from card approval date. Valid till 30 June 2024. T&Cs apply.

[Update!] This pair of cards from UOB offers the highest rewards for Taobao purchases. You can earn 10 UNI$ per S$5 spent, which works out to an air miles earn rate of 4 mpd (or up to 25 UNI$ per S$5 spent / 10 mpd when paired with the UOB Lady's Savings Account!)

However, this bonus earn rate only applies to one spending category for the UOB Lady’s Card and two spending categories for the UOB Lady’s Solitaire card, which means you’ll need to plan ahead to make the best use of your Taobao shopping. 

You see, there are seven spending categories that you can choose from to receive bonus UNI$. Of these, the two relevant to Taobao are Fashion, which includes MCC code 5311 – for transactions made via the mobile app; and Family, which includes MCC code 5411 – for transactions made via the Taobao desktop website. 

If all that seems a little too much to juggle, the Lady’s Solitaire – with its quota of two preferred spending categories – will make it easier to optimise your Taobao shopping. 

The cherry on top is that you can pair the UOB Ladys cards with Instarem's amaze card.

UOB Lady's Solitaire Card Welcome Gift: Get a chance to enjoy an exquisite dining experience for two at Michelin-starred restaurants (worth S$900) when you are one of the first 150 applicants every month during the promo period and make a min. spend of S$1,500 per month for 2 consecutive months from card approval date. Valid till 30 June 2024. T&Cs apply.


HSBC Revolution Card

HSBC-Revolution-New

HSBC_CC_18 MAR_BLOGARTICLE_800x250 (2)

SingSaver's Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC Revolution Card:

Receive a Dyson Supersonic™ hair dryer (worth S$699) or Nintendo Switch OLED (worth S$549) or an Apple iPad 9th 10.2" WiFi 64GB (worth S$508.30) or S$350 eCapitaVoucher upon activating and spending min. S$500 by the end of the following calendar month from the card account opening date. Valid till 14 April 2024. T&Cs apply.

The HSBC Revolution Card recognises both MCCs 5311 and 5411 as eligible for 10x rewards points (4 mpd), so you’ll be covered whether you prefer to shop via the Taobao app or the website. 

On the downside, being a Visa card, you won’t be able to pair this card with amaze to lower your forex charges. 

Back to top


OCBC Rewards Card

OCBC-Rewards

The OCBC Rewards Card is another great choice to use when shopping on Taobao – but only if you’re using the mobile app.

This is because only MCC 5311 is recognised as eligible for card rewards, but MCC 5411 is explicitly excluded

You can earn 10x rewards points per dollar (5 base points + 45 bonus points per S$5 spent), which is equivalent to 4 mpd with this card, up to a cap of 10,000 bonus points per month. Bonus points are awarded for eligible transactions both online and in-store.

Another plus point is, yes, you can also pair this card with the amaze card for lower foreign currency conversion rates. 

[Update!] From now till 30 June 2024, enjoy an upsized 15 OCBC$, which is equivalent to 6 mpd, for every S$1 spend at Watsons, department stores, or duty-free shops at the airport! 

This rewards you with a total of 5,000 extra OCBC$, in addition to the 10,000 bonus OCBC$ cap per month! T&Cs apply.


UOB EVOL Card

uob-evol-1024x644

UOB EVOL Card Welcome Offer: Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmembers with a minimum spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 April 2024. T&Cs apply.

The UOB EVOL Card lets you earn 8% cashback on Taobao, but only up to S$20 per month. You can earn a further S$20 cashback per month on contactless payments (8% cashback) and an additional S$20 per month on all other spends (0.3% cashback). This means the maximum cashback you can get in a month is S$60.  Note that a minimum monthly spend of S$600 is required to earn cashback. 

Back to top


DBS Live Fresh Card

DBS-Live-Fresh-Student-Card-1

Next up is the DBS Live Fresh Card which offers a S$50 cap per month on shopping spend (including online shopping) at a cashback rate of 6%.

There are a few more cashback categories you can max out, too, including S$20 for transport spend and 0.3% unlimited cashback on other spends (with no cap). Overall, the DBS Live Fresh offers a 6% cashback per calendar month, with the cashback capped at S$70. A S$800 minimum monthly spend is required to qualify for cashback. 

DBS/POSB Credit Card Welcome Gift: Receive up to S$388 cashback or 85,000 miles when you apply for select DBS credit cards and fulfil the relevant promotion criteria. T&Cs apply.


UOB One Credit Card

UOB_ONE-4

UOB ONE Card Welcome Offer: Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmembers with a minimum spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 April 2024. T&Cs apply.

And last but certainly not least, we have the popular UOB One Card, which offers 3.33% cashback per quarter, provided you fulfil S$500, S$1,000 or S$2,000 monthly spends each month for the quarter. That’s not a bad reward scheme by any means; it’s just that there aren’t any relevant mechanics to give us additional rewards for Taobao purchases. 

However, you can earn up to 6.67% additional cashback on McDonald's, Grab, Shopee, SimplyGo, Giant, Cold Storage, CS Fresh, Guardian, 7-Eleven, Jasons, Jasons Deli, and UOB Travel, and up to 6.67% enhanced cashback for new UOB card members (total 15% cashback per quarter)

Back to top


CIMB Visa Signature Card

CIMBVisaSignatureCard-1

CIMB_CC_BLOGARTICLE 800x250

SingSaver Exclusive Offer: Receive the following rewards when you sign up for a CIMB Visa Signature Card:

Receive S$280 cash via PayNow upon activating your credit card and spending min. $988 for 60-day periods following card approval. Valid until 30 April 2024. T&Cs apply.

The CIMB Visa Signature offers one of the highest cashback rates at 10% cashback on online spend, groceries, beauty & wellness, pet shops & veterinary services, and cruises.

In particular, MCC 5311, along with several other online shopping MCC are classified as eligible spends:

MCC 5611: Men’s and Boys’ Clothing and Accessories Stores
MCC 5621: Women’s Ready to Wear Stores
MCC 5631: Women’s Accessories and Specialty Stores
MCC 5641: Children’s and Infants’ Wear Stores
MCC 5651: Family Clothing Stores
MCC 5655: Sports Apparel Stores
MCC 5661: Shoe Stores
MCC 5691: Men’s and Women’s Clothing Stores
MCC 5699: Miscellaneous Apparel and Accessories Stores
MCC 5311: Department Stores

 That said, you do need to spend a minimum of S$800 per statement month, and the cashback is capped at S$100 per statement month and S$20 per category. But the silver lining is that there aren't any annual fees!


Taobao credit card promotions

DBS/POSB cards

dbsFor Taobao New Users

  • 20 RMB off with minimum spend of 21 RMB with promo code TBSGNEW20
  • Valid for use on first orders only. Offer is only eligible for in-app purchases and one-time input per user only. Singapore address must be used at checkout in order for Promo Code field to be shown.
  • Promotion Period: Till 31 December 2024 or stocks last.

Taobao Monday Deal

  • S$5 off with a minimum spend of S$100 on every Monday from 12am.
  • Redeem your voucher here. Offer is limited to the first 500 users, one-time user per user. 
  • Offer is only eligible for in-app purchases, and the discount will be applied automatically upon checkout.
  • Promotion Period: Till 31 December 2024 or stocks last.

Taobao Coins Promotion

  • Get a 3% service fee waiver voucher with Taobao Coins (worth S$3).
  • Use 30 Taobao coins to redeem this offer. Capped at 500 redemptions per week. Click here to view the terms and conditions.
  • Promotion Period: Till 31 December 2024 or stocks last.

DBS/POSB Credit Card Welcome Gift: Receive up to S$388 cashback or 85,000 miles when you apply for select DBS credit cards and fulfil the relevant promotion criteria. T&Cs apply.


Back to top


Citi cards

ps-citibank-01Coins Waiver Voucher

  • 3% off service fee waiver with 25 coins (capped at S$3)
  • Valid from 1 Oct 2023 to 30 Sep 2024

Notes:

  • Set Taobao location to Singapore on homepage
  • Click the Coins icon on Taobao Singapore Homepage
  • Redeem vouchers with the required coins every day from 12am
  • Voucher will be automatically applied when purchased with your Citi Card

 

Citi Wednesdays offer

  • S$10 off with a minimum spend of S$100 (Limited redemptions every Wednesday)
  • Valid from (26 July 2023 to 25 Sep 2024)

CITI_LIGHTNING_BLOGARTICLE_KV1_800x250

⚡Flash Deal⚡: Be one of the first 500 applicants to get a PlayStation 5 Disc Version (worth S$799) or Dyson Airwrap (worth S$859) or S$500 ecapitaVoucher when you apply for a Citi Card and spend a minimum of S$500 within 30 days of card approval. Remaining applicants will enjoy existing rewards. Applicable to new-to-Citibank cardmembers only. Promo runs from 9 April, 9AM SGT - 30 April 2024. T&Cs apply.

SingSaver's Exclusive Offer: Receive the following rewards when you sign up for a Citi Credit Card:

SS_Citi_PM_BLOGARTICLE

Citi PremierMiles Card: Receive an Apple iPad 10th Gen Wifi 64GB (worth S$691.60) or Dyson Supersonic (worth S$699) or S$400 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 30 April 2024. T&Cs apply.

Citi CC_BLOGARTICLE_800x250

Other Citi Credit Cards: Receive a Dyson Supersonic (worth S$699) or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$508.30) or Dyson V8 Slim Fluffy (worth S$509) or S$400 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 30 April 2024. T&Cs apply.


Back to top


Maybank cards

Maybank-logoTaobao Sundays

  • S$10 off with a minimum spend of S$100
  • Limited to first 200 redemptions every Sunday
  • See terms and conditions here

Back to top


Make Taobao shopping even more rewarding with the right credit cards

Taobao is known for their low prices and mind-boggling array of goods, so it’s no wonder many of us love shopping there. Afterall, what better way to suss out a bargain than to shop directly at the Factory for the World!

As we’ve hopefully shown you in this article, choosing the right credit cards for your Taobao purchases can make a good deal even better. Not only can you get what you need at wallet-friendly prices, you can also accumulate credit card rewards to enjoy later down the road. An easy win-win, so why not?

 


Read these next:

Best Online Shopping Credit Cards in Singapore
The Best Credit Cards For Fresh Graduates In Singapore
Best Credit Cards For Agoda Promotions
Best Credit Cards For Insurance Payments In Singapore
Best Credit Cards For Bus/MRT Via SimplyGo

An ex-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 optimise happiness and enjoyment in his life.

FINANCIAL TIP:

Use a personal loan to consolidate your outstanding debt at a lower interest rate!

Sign up for our newsletter for financial tips, tricks and exclusive information that can be personalised to your preferences!