Best Rewards Credit Cards: March Madness

updated: Mar 17, 2025

Rewards credit cards offer a way to earn benefits on your everyday spending. Some provide cash rebates on your purchases, while others let you accumulate points or miles that can be redeemed for travel, dining, or shopping perks. The best rewards credit card for you depends on your spending habits and the type of rewards you value most.

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Top rewards credit cards from our partners

Rewards Points Baseline
n_a
Monthly Spend Required
S$ 600.00 per month
Annual Fee
S$ 196.20
eligible_rewards (5)
Rewards Points Baseline
2 point/$
Monthly Spend Required
None
Annual Fee
S$ 1,744.00
eligible_rewards (1)
Rewards Points Baseline
1.6 point/$
Monthly Spend Required
None
Annual Fee
No Annual Fee
eligible_rewards (4)
Rewards Points Baseline
1 point/$
Monthly Spend Required
None
Annual Fee
S$ 196.20
eligible_rewards (4)
Rewards Points Baseline
1 point/$
Monthly Spend Required
None
Annual Fee
S$ 196.20
eligible_rewards (6)
Rewards Points Baseline
1 OCBC$ per dollar
Monthly Spend Required
None
Annual Fee
S$ 196.20
eligible_rewards (2)
Rewards Points Baseline
UNI$ 1
Monthly Spend Required
None
Annual Fee
S$ 196.20
Rewards Points Baseline
5 TREATS Points per S$5 spent
Monthly Spend Required
None
Annual Fee
S$ 261.60

Find the best rewards credit card

Find the best rewards credit card

Ready to get rewarded for your spending? Discover the ideal rewards credit card for your lifestyle and begin earning today.

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Our pick for: Simple travel rewards

HSBC Live+ Credit Card

HSBC Live+ Credit Card
Apply Now

on_provider_website

Rewards Points Baseline
N/A
Monthly Spend Required
S$ 600.00 per month
Annual Fee
S$ 196.20
REWARDS
  • Stand to win a business class ticket to London, S$200 GrabGifts Vouchers and more exciting rewards!
  • S$450 Upsized Cash via PayNow
  • Apple iPad (A16) 11" WiFi 128GB (worth S$499)
  • eligible_rewards (5)

  • product_details

Our pick for: Luxury travel perks

American Express Platinum Card

American Express Platinum Card
Apply Now

on_provider_website

Rewards Points Baseline
2 points per dollar
Monthly Spend Required
None
Annual Fee
S$ 1,744.00
REWARDS
  • 160,000 Membership Rewards® points
  • eligible_rewards (1)

  • product_details

Our pick for: Everyday cashback

Fastest Cash Fulfillment

Standard Chartered Smart Credit Card

Standard Chartered Smart Credit Card
 

/ 5
Apply Now

on_provider_website

Rewards Points Baseline
1.6 points per dollar
Monthly Spend Required
None
Annual Fee
No Annual Fee
REWARDS
  • S$200 Cash via PayNow
  • Apple iPad 9th Gen 10.2" WiFi 64GB (worth S$479)
  • Hinomi H1 Classic V3 Ergonomic Office Chair without Headrest (worth S$659)
  • eligible_rewards (4)

  • product_details

Our pick for: The ladies

UOB Lady's Card

UOB Lady's Card
 

/ 5
Apply Now

on_provider_website

Rewards Points Baseline
UNI$ 1
Monthly Spend Required
None
Annual Fee
S$ 196.20
  • product_details

Our pick for: Overseas and local spend

Fastest Cash Fulfillment

Standard Chartered Rewards+ Credit Card

Standard Chartered Rewards+ Credit Card
 

/ 5
Apply Now

on_provider_website

Rewards Points Baseline
1 point per dollar
Monthly Spend Required
None
Annual Fee
S$ 196.20
REWARDS
  • S$200 Cash via PayNow
  • Apple iPad 9th Gen 10.2" WiFi 64GB (worth S$479)
  • Hinomi H1 Classic V3 Ergonomic Office Chair without Headrest (worth S$659)
  • eligible_rewards (4)

  • product_details

Our pick for: Online shopping

Citi Rewards Card

Citi Rewards Card
 

/ 5
Apply Now

on_provider_website

Rewards Points Baseline
1 point per dollar
Monthly Spend Required
None
Annual Fee
S$ 196.20
REWARDS
  • 1x March Madness Spin to Win Chance
  • (12pm) Reward Upgrade to 1x Apple iPhone 16 128GB (worth S$1,299)
  • (3pm) Reward Upgrade to 1x Apple iPad Air M3 11" WiFi 256GB + Apple Pencil 2nd Gen Bundle (worth S$1,248)
  • eligible_rewards (6)

  • product_details

Our pick for: Retail shopping & everyday essentials

OCBC Rewards Credit Card

OCBC Rewards Credit Card
 

/ 5
Apply Now

on_provider_website

Rewards Points Baseline
1 OCBC$ per dollar
Monthly Spend Required
None
Annual Fee
S$ 196.20
REWARDS
  • 1x March Madness Spin to Win Chance
  • Apple AirPods 4th Gen (worth S$199)
  • Stryv Color+ hair dryer (worth S$129)
  • eligible_rewards (2)

  • product_details

Our pick for: The food connoisseurs

Maybank World Mastercard

Maybank World Mastercard
 

/ 5
Rewards Points Baseline
5 TREATS Points per S$5 spent
Monthly Spend Required
None
Annual Fee
S$ 261.60
  • product_details

Complete list of top rewards credit cards chosen by our editors

HSBC Live+ credit card

Our pick for: Simple travel rewards

The HSBC Live+ Credit Card is ideal for those who spend both locally and abroad. Earn 8% cashback on dining, shopping, and entertainment, and 5% cashback on fuel at Shell and Caltex in Singapore. New cardholders can also stand a chance to win a business class ticket to London and enjoy additional perks like complimentary travel insurance. With a S$196.20 annual fee (waived for the first year), this card is a solid pick for frequent travelers who love dining and shopping.

Read our review

American Express Platinum Card

Our pick for: Luxury travel perks

Frequent travellers who enjoy the finer things in life will love the American Express Platinum Card. With up to S$1,354 in annual travel, dining, and lifestyle credits, you can enjoy complimentary lounge access to 1,400+ airport lounges, instant hotel status upgrades, and exclusive Fine Hotels + Resorts benefits.

Read our review

Standard Chartered Smart Credit Card

Our pick for: Everyday cashback

For those who prefer cashback with no complicated requirements, the Standard Chartered Smart Credit Card delivers 6% cashback at selected merchants and 0.5% cashback on all other spending — with no minimum spend or monthly cap.

Read our review

UOB Lady’s Card

Our pick for: The ladies

The UOB Lady’s Card stands out with up to 25X UNI$ (10 miles per S$1) on selected spending categories, including fashion, beauty, and travel. This flexibility allows cardholders to tailor their rewards based on their lifestyle. Luxury shoppers can take advantage of LuxePay’s 0% interest installment plan for high-end fashion buys, while online shoppers get complimentary e-commerce protection for added security.

Read our review

Standard Chartered Rewards+ credit card

Our pick for: Overseas and local spend

Maximise your spending at home and abroad with the Standard Chartered Rewards+ Credit Card. Earn 10X reward points per S$1 spent on overseas retail, dining, and travel transactions and 5X reward points for dining in Singapore. Frequent travellers will also benefit from complimentary travel insurance coverage of up to S$500,000 when charging full fares to the card.

Read our review

Citi Rewards credit card

Our pick for: Online shopping

For digital shoppers, the Citi Rewards Credit Card is a game-changer. Earn 10X rewards points on all online purchases, including fashion, electronics, and food delivery (excluding mobile wallets and travel-related transactions). The card also offers 10X points for in-store shopping at department stores and fashion retailers.

Read our review

OCBC Rewards credit card

Our pick for: Retail shopping and everyday essentials

The OCBC Rewards Credit Card is built for shopaholics, offering 15X OCBC$ (6 miles per S$1 spent) at selected retailers across fashion, shoes, accessories, and electronics.Every three months, the eligible retailer list updates, giving you new opportunities to earn more points. The card also includes complimentary e-commerce protection, ensuring safe online transactions.

Read our review

Maybank World Mastercard

Our pick for: The food connoisseurs

Foodies and frequent travellers will love the Maybank World Mastercard, which earns 10X TREATS Points (4 miles per S$1 spent) at participating restaurants, retail stores, and petrol stations. Enjoy complimentary green fees at world-class golf courses, free air miles conversion, and travel insurance coverage of up to S$1,000,000 when charging full travel fares to the card.

Read our review

ADDITIONAL RESOURCES

Understanding cashback credit cards

What are cashback rewards cards?

Cashback credit cards let you earn a percentage of your spending back as rewards. Depending on the card, cashback rates can range from 1.5% to 20%, meaning every dollar spent gives you back a portion in cash rebates. These rebates accumulate in your account and can be redeemed as statement credits, direct deposits, or even vouchers.

Cashback cards typically fall into three main categories: flat-rate, tiered, and bonus-category cashback.

Flat-rate cashback cards

These cards offer a consistent cashback rate across all spending categories, making them ideal for those who prefer a simple and fuss-free rewards system. Examples include:

Tiered cashback cards

Tiered cashback cards offer higher cashback rates on specific categories while giving a lower base rate on everything else. These cards are designed for those with specific spending habits. Examples include:

  • HSBC Live+ Credit Card, which gives 8% cashback on dining, entertainment, and shopping (both local and overseas) and 5% cashback on fuel at Caltex and Shell.

  • DBS Live Fresh Card, which offers 6% cashback on shopping and transport; 0.3% on all other spends. 

Cashback cards with rotating categories

Some cashback cards let you choose or adjust your bonus categories, giving you flexibility to maximise rewards based on your spending habits. Others have rotating bonus categories that change every few months. Some of them are: 

  • UOB One Card, which provides up to 10% cashback on Shopee, Grab, and public transport when spending thresholds are met.

How is your bonus reward determined?

Cashback categories are based on the merchant category code (MCC) assigned by payment networks like Visa and Mastercard. For example, a cashback card that rewards grocery store purchases will apply the bonus rate to transactions made at supermarkets — but not necessarily to groceries bought at convenience stores or online marketplaces.

How to redeem cashback rewards

Despite its name, cashback rewards don’t always come as physical cash. The most common way to use cashback is by applying it as a statement credit, which directly reduces your outstanding balance. For instance, if your bill is S$500 and you redeem S$50 in cashback, your new balance will be S$450 — effectively lowering the amount you need to pay.

Some banks also allow you to transfer cashback into your bank account, giving you more control over how you use your rewards. Alternatively, you may be able to redeem cashback as vouchers for shopping, dining, or travel expenses.

Each credit card has different redemption policies. While some let you redeem rewards at any time, others may require you to accumulate a minimum cashback amount (e.g., S$10 or S$20) before you can cash out.

>> READ: For more guidance on selecting the right credit card for your spending needs, check out our comprehensive guide on choosing a credit card.

Understanding travel rewards credit cards

How do travel rewards work?

With a travel rewards credit card, you earn points or miles every time you make a purchase, with many cards offering bonus rewards on travel-related spending. For example, some general travel cards provide higher rewards on airfare, hotels, and overseas spending, while others grant extra points only when booking with a specific airline or hotel chain.

Not all travel rewards work the same way:

  • General travel rewards cards – These cards, such as the American Express Platinum Card and HSBC Live+ Credit Card, allow you to redeem points for flights, hotel stays, or travel statement credits. Some also let you transfer points to airline and hotel loyalty programmes.

  • Airline and hotel-specific cards – Cards like the Maybank World Mastercard offer higher rewards when used at select airlines, hotels, and travel partners. However, these points are typically redeemable only within the issuing brand’s ecosystem.

How much is a credit card point or mile worth?

The value of a point or mile depends on how you redeem it. Some travel cards offer a fixed redemption value — typically between 1 and 1.5 cents per point — when booking through the issuer’s travel portal. Others allow you to transfer points to airline or hotel loyalty programmes, where values fluctuate based on flight routes, availability, and hotel rates.

To get the best value, compare cash prices against the number of points or miles required for redemption. If your redemption value aligns with or exceeds the market average, you're maximising your rewards.

How to redeem travel rewards

The way you use your travel rewards depends on the type of card you have and your travel goals. Most redemptions fall into these two categories:

Redeeming rewards on general travel cards

With some travel cards, you can redeem points through the issuer’s travel booking portal, which functions like an online travel agency. Some cards also allow you to apply points as statement credits against past travel expenses, giving you flexibility in how you book your trips.

Another common option is transferring points to airline or hotel partners. This can unlock premium redemptions such as business class flights or luxury hotel stays, but it's important to check the transfer rates to ensure you're getting good value.

Redeeming airline or hotel rewards

With some travel cards, you can redeem points through the issuer’s travel booking portal, which functions like an online travel agency. Some cards also allow you to apply points as statement credits against past travel expenses, giving you flexibility in how you book your trips.

Another common option is transferring points to airline or hotel partners. This can unlock premium redemptions such as business class flights or luxury hotel stays, but it's important to check the transfer rates to ensure you're getting good value.

Redeeming airline or hotel rewards

For airline miles and hotel points, redemption is usually done directly through the loyalty programme’s website. For example, if you hold the Maybank World Mastercard, you can redeem TREATS Points for flights or hotel stays with participating partners. Keep in mind that some programmes impose restrictions, such as blackout dates or limited availability for reward bookings. Booking early and being flexible with your travel dates can help you secure the best deals.

What to consider when choosing a rewards credit card?

With so many rewards credit cards available, choosing the right one can feel overwhelming. But by assessing your spending habits and understanding how rewards work, you can make an informed decision that maximises your benefits. 

Match your card to your spending habits

Before applying for a rewards credit card, consider whether it’s the right fit for you. The best rewards cards typically require good to excellent credit, and approval often depends on your income and credit history.

A rewards card is most beneficial if you pay off your balance in full each month. Carrying a balance? The interest charges may cancel out any rewards earned, making a low-interest credit card a better option.

Earning vs. redeeming rewards

A good rewards card should work for you in two ways — how you earn and how you redeem. That means choosing a card that rewards your most frequent spending categories and offers redemption options that suit your lifestyle.

For example, if you spend a lot on groceries and dining, a cashback card with high rewards in those categories would be ideal. But if you travel frequently, a card that earns miles or hotel points might offer greater value. A rewards card that doesn’t match your spending habits may leave you with rewards you struggle to use.

There’s no one-size-fits-all best card

The best rewards card for one person may not be ideal for another. Some people prefer a straightforward, flat-rate cashback card, while others value premium perks and privileges. If you’re unsure which type suits you best, cashback cards are a good starting point, as they offer easy-to-redeem rewards with no travel restrictions.

>> READ: Supplementary cards that offer the best benefits

Comparing rewards credit cards: What to look for

Choosing the right rewards credit card isn’t just about picking the one with the highest rewards rate. Other factors, such as fees, sign-up bonuses, and extra perks, can significantly impact the overall value of the card. Here’s what to look out for when comparing your options.

Annual fee

Many of the best rewards credit cards charge an annual fee, especially premium travel cards. However, they may be worthwhile if the card’s benefits — such as free lounge access, complimentary hotel stays, or accelerated rewards — outweigh the cost. Some cards also waive the annual fee for the first year, making them more accessible for new users. 

If you’re looking for a no-fee option, cashback cards and entry-level rewards cards typically don’t charge an annual fee, though they may come with lower rewards rates and fewer perks.

>> READ: Good travel cards with no annual fee

Sign-up bonus

A welcome offer can provide an extra boost when you first get a credit card, often in the form of bonus miles, points, or cashback after meeting a spending requirement. While sign-up bonuses can be lucrative, always check the spending condition — higher bonuses often require significant spending within the first few months.

If you’re not planning to make large purchases, consider a card with a lower spending requirement, so you can unlock the bonus without unnecessary expenses.

>> READ: Best mile cards with sign-up bonuses

Interest rates and costs

While rewards cards offer valuable perks, they often come with higher interest rates compared to standard credit cards. If you don’t pay off your balance in full each month, the interest charges could outweigh the value of your rewards.

>> READ: How does interest rates work for credit cards

Foreign transaction fees

If you often shop online from overseas merchants or travel abroad, a card with no foreign transaction fees can save you money. Most credit cards charge around 3% on foreign currency transactions, which can add up quickly. Travel rewards cards often waive this fee, making them a better choice for frequent travellers.

>> READ: Foreign transaction fees and which cards don’t have them

Perks and rewards

Rewards cards aren’t just about earning cashback or miles — they also come with valuable perks. These may include:

The benefits and cons of rewards credit cards

Benefits

  • Make every dollar work for you. Instead of spending without returns, a rewards credit card allows you to earn cashback, miles, or points on your everyday expenses. Over time, these rewards can translate into savings on flights, shopping, or dining.

  • Unlock premium travel experiences. Travel rewards cards can help you enjoy business class flights, free hotel stays, and priority airport services at a fraction of the usual cost. Some also offer complimentary travel insurance for added peace of mind.

  • Extra protection and perks. Many rewards cards include purchase protection, extended warranties, and even travel coverage that can reimburse you for trip cancellations, lost luggage, or rental car damage. These benefits often come at no additional cost.

ConsThe maximum you can win is S$2,500, even if 50% of your salary is higher than this amount.

  • High interest rates. Rewards credit cards usually have higher EIRs than standard credit cards. If you carry a balance, interest charges may quickly outweigh any rewards earned. It’s best to use these cards only if you can pay off your balance in full each month.

  • Annual fees can eat into rewards. If the annual fee is too high and you’re not fully utilising the benefits, you may end up spending more than you save. Always weigh the value of the card’s perks against its cost.

  • Complex reward structures. Some rewards programmes require careful planning to maximise benefits. If you don’t want to keep track of rotating categories, spending thresholds, or airline transfer partners, a flat-rate cashback card may be a better fit.

Maximising your rewards credit card

Use your card for everyday spending

The best way to make the most of your rewards card is to use it for regular expenses, such as groceries, dining, and utility bills. This helps you accumulate points, miles, or cashback effortlessly. If your card offers a sign-up bonus, ensure you meet the minimum spending requirement without overspending — chasing rewards shouldn’t come at the cost of financial discipline.

Pair cards strategically

Consider using multiple cards to optimise your rewards. A dining card may offer high cashback or points for meals, while a travel card could provide free checked bags and priority boarding. Using the right card for the right category ensures you get the most value out of your spending. If you’ve just signed up for a new card, focus your spending on it first to unlock any welcome offers.

Redeem rewards wisely

Not all redemptions offer equal value. With travel cards, redeeming points for flights or hotel stays typically provides better returns than converting them into cashback. Cashback cards often give the best value when used as statement credits rather than for vouchers. If your card allows you to transfer points to airline or hotel partners, check the conversion rates to ensure you're getting the most from your rewards.

Take advantage of additional perks

Beyond earning rewards, many credit cards offer valuable perks such as airport lounge access, complimentary travel insurance, or discounts on dining and entertainment. If your card includes benefits like free checked baggage or travel credits, using them can easily offset the annual fee. Be sure to explore all the perks available to maximise your card’s value.

Other rewards cards to consider

Rewards credit cards cater to different spending habits and lifestyles, so the best option depends on how you use your card. While this guide highlights top picks in each category, there may be a better fit for you. Explore more options in our dedicated roundups:

Frequently asked questions about rewards credit cards

  • How do rewards credit cards work?

    Rewards credit cards allow you to earn points, miles, or cashback on your everyday spending. Every purchase you make earns a percentage back in rewards, which can be redeemed for travel, statement credits, vouchers, or other perks. Some cards offer flat-rate rewards on all spending, while others have bonus categories that give higher rewards for specific types of purchases, such as dining, groceries, or travel.

  • What can I do with credit card rewards?

    Credit card rewards can be redeemed in various ways, depending on the card and issuer. Common redemption options include:

    • Cashback (as statement credits or bank deposits)

    • Travel bookings (flights, hotels, car rentals)

    • Shopping vouchers or gift cards

    • Airline miles and hotel loyalty points

  • How many credit card rewards points can I earn?

    The number of points you can earn depends on your card’s rewards structure and your spending habits. Some cards have unlimited earning potential, while others cap the number of points you can earn within a specific period or category. If you frequently spend in bonus categories like dining or travel, you may accumulate points faster than with a flat-rate rewards card.

  • How much are credit card rewards points worth?

    The value of credit card rewards varies by card and redemption method. Typically:

    • Cashback is valued at S$1 per S$1 redeemed.

    • Travel redemptions can vary but generally range between S$0.01 to S$0.02 per point.

    • Airline miles and hotel points have fluctuating values depending on availability and demand.

    To maximise value, check the redemption rates and compare options before redeeming your rewards.

  • What credit score do I need to get a rewards credit card?

    Singapore does not use a standardised credit score system like some other countries. Instead, banks and financial institutions assess applicants based on factors such as income, credit history, and existing debt obligations. Generally, higher-income applicants with a strong credit repayment history are more likely to qualify for premium rewards credit cards.

  • Are credit card rewards taxable?

    In Singapore, credit card rewards are generally not considered taxable income, as they are classified as rebates or incentives rather than earned income. However, if you receive rewards as part of a business expense rebate or cashback promotion, you may need to check with the relevant authorities or your tax advisor for clarification.

  • Do credit card rewards expire?

    It depends on the credit card issuer. Some rewards points never expire, while others have an expiration period, typically ranging from one to five years. Travel rewards such as airline miles or hotel points may also have different expiry policies, so it’s best to check with the issuer and redeem your points before they lapse.

  • Is there a limit to the amount of rewards you can earn with a rewards credit card?

    Some rewards credit cards impose a cap on the maximum rewards you can earn within a specific period (e.g., per month, quarter, or year). Others have unlimited earning potential but may apply restrictions to certain bonus categories. Always check the card’s terms and conditions to understand any limits or caps on rewards accumulation.

  • How do you redeem credit card rewards?

    Most banks and card issuers allow you to redeem rewards through their online banking portals, mobile apps, or customer service hotlines. Redemption options typically include statement credits, travel bookings, shopping vouchers, or converting points to partner loyalty programs. Some issuers also offer instant redemption at selected merchants.

  • Is it better to get cashback or travel rewards?

    The best choice depends on your lifestyle and spending habits. Cashback is straightforward and can help offset your monthly expenses, making it ideal for those who prefer simplicity. Travel rewards, on the other hand, can offer greater value when redeemed strategically, particularly for flights and hotel stays. If you travel frequently, a miles-earning card may be a better fit, while cashback cards are great for everyday savings. Read more here: Cashback or rewards cards.

  • How much is the maximum 50% of the salary I can win?

    The maximum you can win is S$2,500, even if 50% of your salary is higher than this amount.

The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.