Best Unlimited Cashback Credit Cards in Singapore (2024)

Emma Lam

Emma Lam

Last updated 02 May, 2024

Cashback’s the name, and unlimited’s the game. Typical cashback credit cards are fine on their own, but here’s how to elevate your cashback gains with an unlimited cashback card.

Best Unlimited Cashback Credit Cards in Singapore

Citi Cash Back+ Card | AMEX True Cashback Card | CIMB World Mastercard | Standard Chartered Simply Cash Card | UOB Absolute Cashback Card | Maybank Barcelona FC Visa Signature Card

For bargain hunters and discount lovers, cashback credit cards are a staple in their wallets.

They often have limitations like minimum monthly spend, cashback caps, and category exclusions. These requirements can be quite troublesome, but this is where an unlimited cashback credit card can help. 

As its name suggests, unlimited cashback credit cards help to compensate for the above limitations of regular cashback cards. No minimum monthly spend, no cashback caps, and significantly fewer category exclusions — these are just the base advantages of unlimited cashback cards to name a few.

Keep on reading to uncover other benefits of unlimited cashback cards and our personal tried-and-true tactics in using them.

Table of contents

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Click here to check out our past Lucky Draw winners!

 


Best Unlimited Cashback Credit Cards

Credit Card Best for/Benefits Details Min. Annual Income
Citi Cash Back+ Card
citicashbackplus-1

 

- 1.6% unlimited cashback on all spending
- No min. spend required

- No cap on cashback earned

- Annual fee: S$196.20 (First year free)
- Local/PR: S$30,000

- Foreigner: S$42,000
AMEX True Cashback Card
amex-true-cashback

 

- 1.5% unlimited cashback on all spending (including education fees, insurance, healthcare, utilities and telco)
 
- Enjoy 3% welcome bonus cashback on up to S$5,000 eligible spend within first 6 months of card approval
- No min. spend required

- No cap on cashback earned

- Annual fee: S$174.40 (First year free)
- Local/PR: S$30,000
CIMB World Mastercard
CIMB-WORLD-MASTERCARD_2019-LR-1024x674

 

- 2% unlimited cashback on Wine & Dine and Online Food Delivery, Movies and Digital Entertainment, Taxi and Automobile, and Luxury Goods
- Min. S$1,000 monthly spend

- No annual fee


- Local/PR: S$30,000
Standard Chartered Simply Cash Card
SimplyCash_front

- 1.5% unlimited cashback on all spending
 
- No min. spend required

- No cap on cashback earned

- Annual fee: S$196.20 (First 2 years free)
- Local/PR: S$30,000

- Foreigner: S$60,000
UOB Absolute Cashback Card
uob-absolute-cardface

 

- 1.7% unlimited cashback on all spending

- Includes insurance, wallet top-ups (excludes Grab), telco bills, and rental
- No min. spend required

- No cap on cashback earned
 
- Annual fee: S$196.20 (First year free)
- Local/PR: S$30,000

- Foreigner: S$40,000
Maybank FC Barcelona Visa Signature Card
maybank-fcb-visasig

 

- 1.6% unlimited cashback on all local spending
- No min. spend required

- No cap on cashback earned
 
- Annual fee: S$120.10 (First 2 years free)
- Local/PR: S$30,000

- Malaysian Citizen: S$45,000

- Foreigner: S$60,000


See also:
Credit Card Promotions: Exclusive on SingSaver


[UPDATE] Best for recurring payments: UOB Absolute Cashback Credit Card

uob-absolute-cardface

The UOB Absolute Cashback Card offers 1.7% cashback with no minimum spend or cashback. It’s currently one of the highest rebates offered on the market.

Moreover, UOB Absolute Cashback has the least spend exclusions out of all the unlimited cashback cards. Using this card allows you to earn cashback on often-excluded merchant transactions like insurance premiums, school fees, utilities, rent, e-wallet top-ups and more.

[Update!] However, starting 6 May 2024, the 1.7% cashback earned on these oft-excluded merchants will be reduced to the base 0.3% rate – with the exception of MCC 6300 (Insurance Sales, Underwriting, and Premiums) for now, it seems. 

Regrettably, it should be noted that the UOB Absolute Cashback Card operates AMEX as its payment processor – which is frequently declined for payments by numerous insurance providers. Thus, you should consult your financial advisor regarding accepted payment methods before proceeding.

UOB Absolute Cashback Card Welcome Offer: Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmember and make a min. spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 June 2024. T&Cs apply.

Also, get up to 10% cashback (equivalent to S$100) on the first S$1,000 spend within 30 days from card approval date. Valid till 30 June 2024. T&Cs apply.


Best for AMEX privileges: AMEX True Cashback Credit Card

amex-true-cashback

The AMEX True Cashback Card offers 1.5% cashback on all eligible spending, with no minimum spend or cashback cap.

Compared to UOB Absolute Cashback, it’s not totally immune to spend exclusions. There are certain non-eligible categories like balance transfers, annual card fees, cash advance loans and others. 

Otherwise, key categories like healthcare, utilities, telco, education fees, insurance, home renovation, online shopping, and groceries are all qualified as eligible spend.

While 1.5% is the base rebate rate, this card offers a generous 3% welcome bonus cashback on the first S$5,000 eligible spend within six months of card approval.

While 3% rebate is still measly compared to regular cashback credit cards, this figure is the highest promotional rate among unlimited cashback cards.

Moreover, the S$5,000 expenditure is graciously spaced out over a period of six months. Those spending a monthly average of S$850 and above are more than capable of achieving this minimum consecutive spend for six months.

Thuis, you stand to earn a maximum of S$150 through this welcome 3% bonus rate. 

But that’s not all. The cashback is instantaneous. There’s no waiting time nor minimum amount to redeem your cashback.

Note: The AMEX True Cashback Card no longer earns 1.5% cashback on GrabPay top-ups.

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

SingSaver's Exclusive Offer: Receive the following rewards when you sign up for an Amex True Cashback Card (Team Cashback):

AMEX_TCB_BLOGARTICLE_800x250 (3)

Receive S$150 Cash via PayNow when you apply for an Amex True Cashback Card and make a min. S$500 spend within 1 month of Card approval. Available to new-to-American-Express card members only. Valid until 6 June 2024. T&Cs apply.


Best for sign-up rewards: Citi Cash Back+ Credit Card

CITICASHBACKMASTERCARD

Another crowd favourite, the Citi Cash Back+ is a mid-tier card because of its 1.6% cashback with no minimum spend or cashback cap. Unfortunately, this card has considerably more spend exclusions than the aforementioned ones.

You can redeem your cash instantly on the go via SMS in rebate values of S$10, S$20, and S$50.

In any case, it’s still a decent cashback card to funnel all your retail spending towards. But if you need some convincing, give our Citi Cash Back+ card review a read. 

Though its card mechanics might pale in comparison to the previous two cards, Citibank often issues out more attractive sign-up rewards than other banks. 

Don’t believe us? Check out Citibank’s card sign-up promotion:

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

Citi_CC_KV2_BLOGARTICLE_800x250

Get a Dyson Supersonic (worth S$699) or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$508.30) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$350 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 2 June 2024. T&Cs apply.

Pay_To_Upgrade_Rewards_Campaign_BLOGARTICLE_800x250-1

Plus, upgrade your rewards when you top up S$999 for an Apple MacBook Air 13” (M3 chip) 256GB (worth S$1,599) or an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Alternatively, top up S$1,488 for a Samsung Galaxy S24 Ultra Titanium Gray 12+512GB 5G (worth S$2,128). Valid till 2 June 2024. T&Cs apply.


Best for extra bill rebates: Standard Chartered Simply Cash Credit Card

SCB_SIMPLYCASH

The Standard Chartered Unlimited Cashback Card is another respectable card featuring 1.5% cashback with no minimum spend or cashback cap.

One of its perks includes full cashback when you pay your bills through SC EasyBill function. Furthermore, get up to S$288 rebate* when you activate your physical card and spend S$388 on eligible merchants within 30 days of card approval. 

If you need further information, maybe our Standard Chartered Unlimited Credit Card review can help.

*Accurate as of time of writing

TeamCashback-VS-TeamMiles-KV2.1_BLOGARTICLE_800x250

🆚SingSaver's Cashback vs Miles Campaign (Round 2) 🆚: Are you Team Cashback or Team Air Miles?

Be one of the first 400 to receive rewards of up to +S$740 Vouchers or up to +74K Miles when you sign up for any participating Cashback or Miles Credit Card, respectively, within the promo period. The team with the most applications wins the rewards! Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

Plus, get up to 31x chances to win a Pair of RETURN Business Class Tickets to Tokyo, Japan (worth 120K Max Miles) in the Grand Lucky Draw when you successfully apply for participating products. Promo runs from 24 May, 12pm - 6 June 2024. T&Cs apply.

SingSaver's Exclusive Offer: Enjoy the following rewards when you sign up for a Standard Chartered Simply Cash Card (Team Cashback):

Receive a Sony HT-AX7 (worth S$769) or Dyson SSHD (worth S$699) or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$508.30) or S$330 cash upon activating and spending min. $500 spend within 30 days of card approval. Also, get an additional S$30 e-Capitaland voucher when you make a min. spending of $1,000 in your 2nd month. Valid till 2 June 2024. T&Cs apply.
 

Plus, get an additional S$20 e-Capitaland Voucher when you split the payment for your purchases with SCB Easy Pay, pay your bills with SCB Easybill or put any of your purchases on instalment in SCB Savings Account or Current Account within 60 days of approval. Valid till 2 June 2024. T&C applies.

See also:  Credit Card Comparison: AMEX True Cashback vs. Citi Cash Back+ vs. SCB Unlimited


Best for highest conditional cashback: CIMB World Mastercard

CIMBWORLDMasterCard

Last but not least, we have the CIMB World Mastercard offering 2% cashback with no cashback cap, the highest rate among all the cards so far. However, the drawback is that it’s the highest conditional unlimited rebate. 

There is minimum spend involved. This 2% rebate is only awarded upon hitting the minimum S$1,000 spend per month. Otherwise, this rate is reduced to 1% cashback for eligible spend less than S$1,000.

There are also restrictions on category eligibility. Only dining, online food delivery*, movies, digital entertainment, taxi rides, ride-hailing, automobile, and luxury goods are entitled to the highest cashback tier.

Other than that, cardholders are also entitled to 1% cashback on other spend categories with a minimum S$500 spend per month.

Compared to other consistent rebates like UOB Absolute Cashback’s 1.7% cashback on almost all categories, this 2% and 1% conditional cashback by CIMB World Mastercard is not as effective.

Read our full CIMB World Mastercard Review here to have a better idea of what it has to offer.

*Applicable to Deliveroo, Foodpanda, GrabFood, WhyQ, and AirAsia Food merchants only

Welcome Offer: Receive S$88 Cashback when you make a minimum of S$108 eligible spends within 30 days of card approval date. Plus, receive S$100 Cashback (S$188 in total) when you increase your minimum eligible spends to S$988 within 60 days of card approval date. Valid till 31 July 2024. T&Cs apply.


What other benefits do unlimited cashback credit cards have?

While we’ve covered the basic mechanics of unlimited cashback credit cards, some of you might still be unconvinced of their benefits. 

Compared to other cashback cards like UOB One (Up to 15% cashback), OCBC 365 (8% cashback), and POSB Everyday Card (Up to 10% cashback), the <1.7% cashback doesn’t hold a candle to those rebates.

So apart from no minimum monthly spend, no cashback cap, and fewer spend exclusions, why is an unlimited cashback credit card still recommended as a supplement card?

#1: Best for big-ticket purchases & costly household projects

This should be fairly obvious by now but the limitless spending makes these cards ideal for big-ticket purchases and costly household projects. Major purchases like buying your first car can be done through these unlimited cashback cards.

But of course, to be a responsible car owner, you should consider these factors before sealing the deal. After all, not only are cars in Singapore becoming more expensive but they’re more of a luxury than a necessity thanks to our robust public transportation.

See more here:
Buying a Secondhand Car in Singapore
Buying an Electric Car in Singapore: A Complete Guide
How Much Does it Truly Cost to Maintain a Car in Singapore?

Meanwhile, home renovations have also become more expensive. The average home renovation costs around S$30,000 in Singapore, but many couples and families easily exceed this initial budget.

In any case, unlimited cashback cards aren't the only cards capable of footing such costly transactions. Check out these 13 other card recommendations for big-ticket purchases.

See more here:
7 Ways to Lower Renovation Costs if You're Moving into Your New Home
A Complete Guide to Kitchen Renovations
Renovation and Interior Design Comparison Platforms in Singapore
When to Use a Personal Loan for Home Renovations

Looking for a couple extra thousands to fund your home renovation project? Why not consider taking up a personal loan to cushion some of the costs?


#2: Best for bills, fees, and insurance premiums

As stated above, unlimited cashback credit cards like UOB Absolute Cashback and AMEX True Cashback count categories like insurance, hospital bills, utility bills, phone bills, education fees and more as eligible spend.

Hence, it makes sense to consolidate all your important recurring bills into a single card for easier tracking and payment.

 

#3: Beginner-friendly, especially for young adults

Thirdly, treat unlimited cashback credit cards as your beginner-friendly stepping stone into the world of personal finance. 

Too many young adults are over-eager to ‘abandon’ their debit card and apply for their first credit card. This transition symbolises their growth from teenager into adulthood and the newfound freedom that comes with it.

That said, it’s foolish to jump headfirst into a credit card without understanding the responsibilities of managing it. Forgetting to pay credit card bills on time and overspending on credit limits are common mistakes that naive cardholders make.

It’s best to educate yourself on the fundamentals of credit card ownership before committing to one. 

Read more:
The Best Credit Cards For Young Adults in Singapore
Student Credit Cards — Are They Worth Signing Up For in 2023?
Best Credit Cards For S$600 Monthly Spend
5 Signs It’s Time to Upgrade Your Debit Card to a Credit Card


Summary: Simplicity is key

Now, this must’ve been a lot of information to digest.

Learning about new concepts like monthly bills, minimum payments, and annual fees as personal finance beginners and novices can be intimidating and tough. But hopefully, we’ve managed to deconstruct how general cashback mechanics work and explain why an unlimited cashback credit card is a good first choice.

To reiterate, your first credit card should be straightforward to use.

It shouldn’t involve you jumping through multiple hoops to satisfy rebate conditions.

A limitless cashback card usually helps to drown out all the noise of minimum spend, cashback caps, differing categorical rebate rates and spend exclusions.

It simplifies everything into an easy-to-use and fuss-free card that’s effective for both everyday and major expenses. But as always, remember to read the fine print of your bank’s T&Cs if you’re unsure about eligible purchases!

 

 

Although she struggles *slightly* in resisting good deals and sales, Emma is on a lifelong journey to understand what financial independence as a Z-llennial means. That said, her inner child is still very much alive… with animals and gaming being her weaknesses.

FINANCIAL TIP:

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

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