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Best Cashback Credit Cards in Singapore (2020)

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American Express True Cashback Card

American Express True Cashback Card

Welcome GiftFeatured
American Express True Cashback Card
No Minimum
Monthly Spend Required
Welcome Gift:
Receive S$80 CapitaVouchers when you make a min. qualifying spend in the first month of card approval. T&Cs apply.

Black Friday Offer: Get S$150 Agoda vouchers OR S$150 CapitaVouchers with min. spend of S$1,000 within the first month of card approval. Valid till 2 Nov 2020. T&Cs apply.
DBS Live Fresh Card

DBS Live Fresh Card

Welcome GiftFeatured
DBS Live Fresh Card
S$600
Monthly Spend Required
Welcome Gift:
Get rewarded S$150 cashback by entering the promo code 150CASH in your application. Valid till 31 Jan 2021. T&Cs apply.
POSB Everyday Card

POSB Everyday Card

Featured
POSB Everyday Card
S$800
Monthly Spend Required
CIMB Visa Signature Card

CIMB Visa Signature Card

Welcome Gift
CIMB Visa Signature Card
S$800
Monthly Spend Required
Welcome Gift:
Get $100 cash credit when you apply. Valid till 31 Oct 2020. T&Cs apply.

[Lucky Draw] Stand to get 6 months' worth of credit card bills paid for, just by spending on your CIMB card! A monthly cash prize of S$1,000 will also be given out. Valid till 28 Feb 2021. T&Cs apply.
CIMB Platinum Mastercard

CIMB Platinum Mastercard

Welcome Gift
CIMB Platinum Mastercard
S$800
Monthly Spend Required
S$100
Monthly Cashback Cap
Welcome Gift:
Get $100 cash credit when you apply. Valid till 31 Oct 2020. T&Cs apply.

[Lucky Draw] Stand to get 6 months' worth of credit card bills paid for, just by spending on your CIMB card! A monthly cash prize of S$1,000 will also be given out. Valid till 28 Feb 2021. T&Cs apply.
UOB One Card

UOB One Card

Welcome Gift
UOB One Card
S$2,000
Monthly Spend Required
Welcome Gift:
Get S$150 cash credit when you apply and make a min. spend of S$1,500. Valid till 31 Oct 2020. T&Cs apply.
OCBC CashFlo Credit Card

OCBC CashFlo Credit Card

Popular
OCBC CashFlo Credit Card
S$1,000
Monthly Spend Required
Maybank Family & Friends Card

Maybank Family & Friends Card

Welcome Gift
Maybank Family & Friends Card
S$800
Monthly Spend Required
8%
Cashbackon groceries, transport, dining, and selected merchants
Welcome Gift:
Receive S$100 cash when you apply. Valid till 31 December 2020. T&Cs apply.
OCBC 365 Credit Card

OCBC 365 Credit Card

SingSaver's Exclusive Offer
OCBC 365 Credit Card
S$800
Monthly Spend Required
SingSaver's Exclusive Offer:
Receive up to S$100 GrabFood vouchers upon card approval. Valid till 31 Oct 2020. T&Cs apply.
Citi Cash Back Card

Citi Cash Back Card

Welcome Gift
Citi Cash Back Card
S$888
Monthly Spend Required
Welcome Gift:
Get S$200 cash via PayNow when you apply and make a qualifying spend with your card. Valid till 31 Oct 2020. T&Cs apply.

Best Cashback Credit Cards in Singapore 2020

Which category will you be spending on the most? Here are the best credit cards for each type of spending.

All Types Of Spending: Citi Cash Back+ (1.6% cashback)
For those that want a fuss-free cashback card, this card gives you 1.6% cashback on all your spending, regardless of the category you spend on.

Dining: Citi Cash Back (8% cashback)
Dining out in Singapore isn’t cheap. This card gives you 8% cashback on not just your dining spend, but also groceries and petrol.

Groceries: CIMB Visa Signature (10% cashback)
For families that make frequent trips to the supermarket, use the CIMB Visa Signature to earn 10% cashback on groceries, both in-store and online.

Petrol: Maybank Family & Friends (8% cashback)
Car owners and private hire drivers can accelerate fuel savings by earning 8% cashback at petrol stations in both Singapore and Malaysia. This card also gives you 8% cashback on groceries, fast food, food delivery and more.

Online Shopping: CIMB Visa Signature (10% cashback)
Earn cashback on your retail therapy by using the CIMB Visa Signature. This card also gives you 10% cashback on Groceries, Beauty & Wellness as well as Pet Shops and Veterinary Services.

Transport: UOB One (10% cashback)
Loyal Grab riders, this card’s for you. The UOB One gives you up to 10% cashback on your Grab rides and GrabFood spend, while excluding mobile wallet top-ups.

Need some help?
No worries, we've got you covered!
What is a cashback credit card?

A cashback credit card is one that gives you a percentage of your spending as cashback (sometimes termed as cash rebates). This cashback earned will be credited into the same credit card you spent on and can be used to offset your next credit card statement.

How does a cashback credit card work and how do I earn cashback?

Simply make your purchase with your cashback card, and you receive cashback in your credit card account at the end of the month, or in the following month. This cashback will be a percentage of your transaction amount. For example, if your cashback credit card offers 5% cashback on grocery spend, a $100 grocery bill earns you $5 in cashback. 

If your credit card has a minimum monthly spend required, you must spend at least that amount in order to earn your cashback at the end of the month.

How much cashback can I earn from a cashback credit card?

Most cashback credit cards set a cashback cap of about $20 to $25 for each category. There could also be a maximum total cashback cap per calendar month. This can range from S$60 to S$80. 

There are also cashback credit cards with no cashback cap, with rates of about 1.5% to 1.6%.

What purchases are eligible to earn cashback?

This depends on the category you are spending on. Higher cashback rates are usually awarded on specific merchant categories such as dining, grocery, shopping, online spend, entertainment, transport, travel and fuel. 

For many cashback credit cards, you would have to meet the minimum spend required in order for your spending to earn higher cashback. If you do not spend much, you can consider credit cards with no minimum spend. Do also keep in mind that once you hit the cashback cap, the subsequent purchases will not earn you more cashback.

What should I look out for when using a cashback credit card?

When choosing a cashback credit card, you should look out for: 

  • The categories that earn higher cashback rates 
  • Cashback rate for all other purchases that do not fall within the categories 
  • Minimum spend required to earn the higher cashback rate 
  • Cashback cap for each category 
  • Cashback cap for the month, if any 
  • Whether cashback is awarded on a statement or calendar month basis, for tracking purposes 
  • Annual fee
Which is the best cashback credit card?

This depends on the category you spend the most on. Choosing a credit card that suits your spending habits will help you maximise the cashback earned. You can narrow down your selection based on these main categories: 

You can also read this article to find the best cashback credit cards in Singapore.

How to choose a cashback credit card?

When choosing a cashback credit card, you can consider features such as: 

  • Cashback rate for each category 
  • Minimum monthly spend 
  • Monthly cashback cap 
  • Additional perks (e.g. free travel insurance) 
  • Annual fee 
  • Signup promotions
Are there cashback credit cards with no minimum spend and no cashback cap?

Yes, there are. These credit cards do not require a minimum spend and there is no limit to the cashback you can earn: 

  • Citi Cash Back+ 
  • Standard Chartered Unlimited 
  • American Express True Cashback 
  • CIMB World Mastercard 
  • ICBC Chinese Zodiac 

You can also read this article to find a cashback credit card with no minimum spend and no cap.

Should I have more than one cashback credit card?

If you are looking to maximise your cashback earned, you can consider getting a few cashback credit cards. As most cashback credit cards impose a cashback cap for each category, once you’ve hit the cashback cap on your first cashback credit card, you can move on to use another credit card that month. 

You can also have multiple credit cards for different types of spending. For example, you can use the Citi Cash Back card for groceries and dining (8% cashback), the OCBC Frank for your online spend and pay in-store via Visa contactless (5% cashback) with DBS Live Fresh. 

Check out these favourite credit card combinations SingSaver staffers use to max out cashback and miles.

What are the charges and fees incurred for a cashback credit card?

Cashback credit cards may charge annual fees and late payment fees. These fees are similar across all types of credit cards. Cashback you earn for the month is credited into your credit card account directly, without you incurring any additional fees.

What are the requirements for applying for a cashback credit card?

You will have to meet the minimum income requirements to apply for the card. Most cashback credit cards have a minimum annual income of S$30,000. However, there are a few select credit cards, such as the CIMB World Mastercard, that have a higher minimum income requirement.

Do supplementary cardholders earn cashback?

Supplementary cardholders can also earn cashback. However, the cashback earned by a supplementary cardmember may be credited to the card account of the principal cardmember.

When will I receive the cashback for my purchases?

The cashback you earn will be tallied and credited into your credit card account either at the end of the month or in the following month. Depending on the credit card used, this is calculated based on the spending category and amount spent. It will also be reflected in the credit card statement that you receive every month. You can use this cashback to offset a portion of your next credit card bill.

Why should I apply for a cashback credit card with SingSaver (and not through the bank)?

Financial comparison sites like SingSaver help you compare impartially between the different products, and highlight unique selling points of each of them. That way, it’s easier for you to decide which cards best suit your needs. We also tie up with banks to reward our users with exclusive promotions and bonus incentives upon the sign-up of a new credit card.

What is an instant / digital credit card and how do I get it?

In a bid to go all-digital, some banks offer instant digital credit cards. This means that upon the bank’s approval, you will receive a digital card which you can use immediately. You no longer have to wait 1 to 2 weeks for the physical card to arrive in your mail to make a transaction. 

When applying for such digital cards, follow the bank’s instructions on where you can find your digital card (with the credit card number) once it is approved.

What is the difference between cashback, miles and reward points?

Unlike miles or reward points that take time and money to accumulate (before they can be exchanged for a plane ticket or gift), cashback credit cards reward you for your purchases within the month, in the form of cashback. 

You can read this article that covers Cashback vs Miles vs Rewards to find out which type of credit card is best for you.

Confused about credit card terms?

Glossary terms to know for first-time credit card users

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