Save more on every Grab ride you take when you pay with these 5 credit cards.
Editor’s note: card offers and rates are subject to change at any moment. This article was last updated in Oct 2019.
Taking Grab rides has become a daily or at least weekly habit for many in Singapore. It’s convenient, fast (usually!) and most of all, you can book one with a few simple taps on your smartphone. If you’re a serial Grabber, learn to maximise your spend with a range of Grab credit card promotions. That way, even if you’re spending a tidy sum on Grab rides every week, you’re still earning – in the form of cashback or miles – something in return.
The first decision to make is whether you prefer cashback or air miles as a form of rebate for each Grab ride. Only then can you figure out what the right credit card is for you.
Below is a chart where we compare the best 5 credit cards on the market for Grab rebates or rewards.
BEST CREDIT CARDS FOR GRAB RIDES
|REBATE TYPE||CREDIT CARD||REBATE||MIN. SPEND REQUIRED||MONTHLY CAP|
|Cashback||UOB One||Additional 5% rebate (up to 10%) on all Grab transactions||From S$500/month for the quarter||Depends on tier|
|Cashback||OCBC 365||3% cashback on local and overseas rides||$800/month||$80|
|Cashback||UOB YOLO||8% cashback on Grab rides||$600/month||$60|
|Air miles||Maybank Horizon||3.2 miles per dollar||$300/month||12k miles|
|Air miles||American Express credit cards||3.1 – 3.2 miles per dollar||None||$200|
UOB One Card: Up to 10% rebate on all Grab transactions
If you’re worried about your GrabPay top-ups not contributing to your eligible Grab spend, the UOB One takes away that headache for you.
Pay with this card and earn an additional 5% rebate on ALL Grab transactions, not just rides!
Rebates for the UOB One card work a little differently: rewards are awarded on a quarterly basis and in a lump sum. This is why most reviews out there will recommend that you try to hit your minimum spend just right, because any amount above that won’t earn you more rebates.
There is a different minimum spend required for every month of the quarter to qualify for their different rebate tiers.
Tier 1: If you spend at least S$500/month with a min. of 5 transactions every month for the whole quarter, you’ll earn $50 cash rebate for that quarter. This works out to around 3.33%.
Tier 2: If you spend at least S$1,000/month with a min. of 5 transactions every month for the whole quarter, you’ll earn $100 cash rebate for that quarter. This also works out to around 3.33%.
Tier 3: If you spend at least S$2,000/month with a min. of 5 transactions every month for the whole quarter, you’ll earn $100 cash rebate for that quarter. This works out to around 5%.
When you’ve hit the minimum spend for these tiers, any Grab transactions charged to your UOB One card will earn you an additional 5% rebate, resulting in up to 10% if you’re a heavy Grab user.
OCBC 365 Credit Card: 3% cashback
If you’re a frequent traveller and regularly take Grab rides on overseas trips, you’ll love that the OCBC 365 Credit Card offers 3% cashback on all local and overseas private hire rides and taxis (whether it’s Grab, Uber, Ryde, or more).
You’ll even receive complimentary travel insurance of up to S$500,000 when you charge your round-trip tickets to your card!
Don’t forget, this card also gives 6% cashback on local and overseas dining and food delivery, and 3% cashback on groceries – as long as the stipulated minimum spend is met.
UOB YOLO Card: 8% cashback on Grab rides
Receive up to 8% cashback on Grab rides during the weekend, and 3% cashback on weekdays.
Do note the 8% cashback also applies to all online shopping, dining and entertainment spend and that you need to spend a minimum spend of $600 on the card before you qualify for the above rates. Total cashback from all spend is also capped at $60 per month so remember to budget your spend per category.
American Express Credit Cards: Earn 3.1 miles per dollar
Beef up your air miles account with every Grab ride with the Amex Singapore Airlines KrisFlyer Credit Card.
Pay for your commutes using this card and earn a cool 3.1 KrisFlyer miles per S$1. Offer is capped at the first S$200 spend in each calendar month, but that’s still 660 miles earned per month.
Maybank Horizon Visa Signature Card: Earn 3.2 miles per dollar
If collecting air miles while Grabbing your way around town is your thing, consider getting the Maybank Horizon Visa Signature Card.
This mid-range credit card grants a generous air miles earn rate of 3.2 miles per S$1 on Grab taxi rides, but also on dining, petrol and selected Agoda hotel bookings. Do note there’s a required minimum spend of S$300 per month, and there’s a maximum cap of 12k miles per month.
Along with 2 miles per dollar on air tickets, travel packages and foreign transactions, you’ll be Grabbing to the airport sooner than you think.
From now until 31 Dec 2019…
DBS Visa Altitude: Earn 4 miles per dollar
From 1 Aug to 31 Dec 2019, earn up to 4 miles per S$1 on daily ride-hailing rides which include Comfort/CityCab Taxi, Grab (not including GrabPay) and GOJEK. The generous earn rate of 4 miles per $1 also applies to bus and MRT rides using SimplyGo.
The maximum 4 miles per dollar earn rate during this promotion period is capped at S$1,200 across all eligible spend.
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By 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.