While looking through my credit cards one day, I realised that the points and miles that I was accumulating on a couple of programmes were either expiring soon or the stuff that I could redeem for were damn cui.
40,000 points, or $4,000 spent, for an eco-friendly cup to hold coffee that I DON’T even drink in the mornings…
I’ll pass.
Miles sound great. But I’m not really a frequent traveller either. So how often will I earn enough miles for a flight, before my darned miles expire?
I decided then to switch to something more immediate. Something more tangible. I decided to find out what’s the best cashback credit card in Singapore.
Lucky for you, the team strong-armed me to I’m generously sharing the knowledge that I’ve gathered.
So the next time you walk into a bank or any credit card roadshow, this will be you:
You’re welcome.
Disclaimer: The various credit cards all come with their respective terms and conditions. So please read through them before deciding which credit card to get!
TL;DR: Best Cashback Credit Card Singapore 2019
These are the best cashback credit cards that you should be using:
| Best Cashback Credit Card | Recommended For |
|---|---|
| AMEX True Cashback HSBC Advance SCB Manhattan World UOB One | Big Ticket Expenses (eg. wedding, honeymoon plans, home reno) |
| BOC Sheng Shiong Citibank Cashback CIMB Visa Signature Maybank Family & Friends | Groceries |
| CIMB Visa Signature Citibank SMRT | Online Shopping |
| BOC Family CIMB Visa Signature UOB YOLO | Dining Out & Going Out |
| Citibank SMRT POSB Everyday SCB Spree | Low Commitment aka No Minimum Spend |
- Best Cashback Credit Cards For Big Ticket Expenses
- Best Cashback Credit Cards For Groceries
- Best Cashback Credit Cards For Online Shopping
- Best Cashback Credit Cards For Dining Out And Going Out
- Best Cashback Credit Cards With No Minimum Spend
Why Would The Banks Give Us Free Money?
The answer is in the fine print.
Most cash rewards programmes have a minimum spend requirement as well as a cashback cap. So while a card might offer you a generous 20% cashback, you’ll probably need to spend something like $50 a month in order to qualify, and the maximum amount of cashback you can probably get is $10,000 monthly.
FOR EXAMPLE ONLY, PLEASE. No such card exists.
But most consumers do not take the time to read the fine print, so there is a chance that they might use a credit card under the impression that the cash rewards programme is more generous or applicable to a wider range of expenditure than they actually are.
And how many of us really track how much we spend in order to truly maximise our cashback rewards?
I can’t imagine that it’ll be many…
Heck. Even I lose track sometimes. But I’ve got a brilliant solution for tracking my expenses. And I’ll share what it is in a bit.
So imagine what the experience is like for someone who has never owned a credit card, much less never bought groceries before:
There are also plenty of consumers who might be under the impression that because they’re getting cash back, they can ‘afford to’ spend more.
WRONG!
That’s really bad news because if you can’t make payment on time. The banks will charge high interest rates on credit, and the late fees for balances that are carried over are usually damn siao.
The lesson to take away here? Only get a credit card if you are conscientious about your spending habits and can make payments for your credit card bills on time.
.
.
.
“So what’s your secret for tracking your expenses to a T,” you ask?
By using the free Seedly Expense Tracker app, of course.
Give it a whirl. It’s a free app to help you get free money. #dontsaybojio
What’s The Best Cashback Credit Card For Me?
To make your life easier, I decided to break down the various cashback credit cards out there into 5 different categories which I believe most people would really care about – especially when looking for a cashback credit card.
I’ve also listed the:
- Monthly minimum spend
- Maximum cashback cap, and
- Maximum amount of cashback you can get
As a value-added service, I’ve also included links to real user reviews left by members of our Seedly community to help you better decide which cash back credit card should you go for.
So be sure to bookmark this page for future reference!
Best Cashback Credit Cards For Big Ticket Expenses
Planning a wedding? Need to renovate your brand new BTO? Planning a round-the-world trip for your family of 10? Check out these cards to save HUGE:
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| American Express True Cashback | 3% (first 6 months) 1.5% | No min spend | $5000 (first 6 months) Unlimited thereafter | Unlimited thereafter | Big expenses |
| HSBC Advance | 1.5% (⩽ $2000) 2.5% (>$2000) 3.5% (Advance customers) | No min spend | $70 monthly $125 monthly (Advance customers) | $840 $1500 (Advance customers) | Big expenses |
| Standard Chartered Manhattan World | 0.5% 1% 3% | <$1000 >$1000 to $2999.99 >$3000 | $200 quarterly | $800 | Big expenses |
| UOB One | 3.33% to 5% Qtrly Flat Rate $50/ $100/ $300 | $500/ $1000/ $2000 | $300 quarterly | $1200 | Big expenses |
Best Cashback Credit Cards For Groceries
Everybody needs to visit the supermarket to get stuff like milk, diapers, bananas, soy sauce, bread… You get the picture. Why not save a bit while making these necessary purchases?
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| CIMB Visa Signature | 10% on dining, groceries, online spending 0.2% on all other retail | $600 | $100 monthly | $1200 | Online shopping Groceries Dining out & Going out |
| Citibank Cash Back | 8% on dining, groceries, petrol 0.25% on all other retail if below min spend (no cap) 20.88% @ Caltex & Shell | $888 | $100 monthly ($25 per category) | $1200 | Groceries |
| Bank of China BOC Family | 10% on dining (local and overseas), entertainment 5% @ selected merchants 3% on groceries, online shopping, telco, transport 0.3% on all other retail | $800 | $80 monthly | $960 | Groceries Dining out & Going out |
| Bank of China BOC Sheng Shiong | 7% @ Sheng Shiong 1% on overseas spend 5% on all other retail (if spent $400 at Sheng Shiong) | No min spend $400 at Sheng Shiong to qualify for additional 5% cashback on all other retail | $70 monthly | $840 | Groceries |
| Maybank Family & Friends | Up to 8% on groceries, shopping, dining, food delivery, petrol, transport and entertainment 0.3% on all other retail | $500 (5% cashback) $1000 (8% cashback) | $600 annually | $600 | Groceries |
Best Cashback Credit Cards For Online Shopping
If you can’t find any valid promo codes for your online shopping, then getting cashback with these cards should help fuel your next online shopping spree. Conducted prudently, of course.
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| CIMB Visa Signature | 10% on dining, groceries, online spending 0.2% on all other retail | $600 | $100 monthly | $1200 | Online shopping Groceries Dining out & Going out |
| Citibank SMRT | Up to 5% for groceries, fast food, movies, coffee Up to 3% for online spend (2.7% base + 0.3% if exceed $300) Up to 2% EX-Reload Auto Top-up | No min spend | $600 annually | $600 | No min spend Online shopping |
Best Cashback Credit Cards For Dining Out And Going Out
There’s not much to do in Singapore on the weekends besides heading out for food or catching the latest movie. Why not earn some cashback while you’re at it?
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| CIMB Visa Signature | 10% on dining, groceries, online spending 0.2% on all other retail | $600 | $100 monthly | $1200 | Online shopping Groceries Dining out & Going out |
| Bank of China BOC Family | 10% on dining (local and overseas), entertainment 5% @ selected merchants 3% on groceries, online shopping, telco, transport 0.3% on all other retail | $800 | $80 monthly | $960 | Groceries Dining out & Going out |
| UOB YOLO | 8% on weekend transport, dining, entertainment 3% on weekdays 3% on online travel and fashion 0.3% on all other retail | $600 | $80 monthly | $960 | Dining out & Going out |
Best Cashback Credit Cards With No Minimum Spend
Best for those who like keeping their expenditure low, but still wish to earn some cashback all the same.
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| Citibank SMRT | Up to 5% for groceries, fast food, movies, coffee Up to 3% for online spend (2.7% base + 0.3% if exceed $300) Up to 2% EX-Reload Auto Top-up | No min spend | $600 annually | $600 | No min spend Online shopping |
| POSB Everyday | 5% @ Sheng Shiong 3% @ Watsons 1% @ Starhub & utilities 20.1% @ SPC | No min spend | $50 monthly | $600 | No min spend |
| Standard Chartered Spree | 3% on online spend (foreign currency) 2% on online spend (local, contactless, and mobile) 1% on all other retail | No min spend | $60 monthly | $720 | No min spend |
If You Like Big Tables…
For fans of huge sprawling spreadsheets, here’s one with all of the above-discussed cards in alphabetical order.
| Cashback Rates | Min Spend (monthly) | Max Cashback Cap | Maximum Cashback (yearly) | Best For | |
|---|---|---|---|---|---|
| American Express True Cashback | 3% (first 6 months) 1.5% | No min spend | $5000 (first 6 months) Unlimited thereafter | Unlimited thereafter | Big expenses |
| CIMB Visa Signature | 10% on dining, groceries, online spending 0.2% on all other retail | $600 | $100 monthly | $1200 | Online shopping Groceries Dining out & Going out |
| Citibank Cash Back | 8% on dining, groceries, petrol 0.25% on all other retail if below min spend (no cap) 20.88% @ Caltex & Shell | $888 | $100 monthly ($25 per category) | $1200 | Groceries |
| Citibank SMRT | Up to 5% for groceries, fast food, movies, coffee Up to 3% for online spend (2.7% base + 0.3% if exceed $300) Up to 2% EX-Reload Auto Top-up | No min spend | $600 annually | $600 | No min spend Online shopping |
| HSBC Advance | 1.5% (⩽ $2000) 2.5% (>$2000) 3.5% (Advance customers) | No min spend | $70 monthly $125 monthly (Advance customers) | $840 $1500 (Advance customers) | Big expenses |
| POSB Everyday | 5% @ Sheng Shiong 3% @ Watsons 1% @ Starhub & utilities 20.1% @ SPC | No min spend | $50 monthly | $600 | No min spend |
| Standard Chartered Manhattan World | 0.5% 1% 3% | <$1000 >$1000 to $2999.99 >$3000 | $200 quarterly | $800 | Big expenses |
| Standard Chartered Spree | 3% on online spend (foreign currency) 2% on online spend (local, contactless, and mobile) 1% on all other retail | No min spend | $60 monthly | $720 | No min spend |
| Bank of China BOC Family | 10% on dining (local and overseas), entertainment 5% @ selected merchants 3% on groceries, online shopping, telco, transport 0.3% on all other retail | $800 | $80 monthly | $960 | Groceries Dining out & Going out |
| Bank of China BOC Sheng Shiong | 7% @ Sheng Shiong 1% on overseas spend 5% on all other retail (if spent $400 at Sheng Shiong) | No min spend $400 at Sheng Shiong to qualify for additional 5% cashback on all other retail | $70 monthly | $840 | Groceries |
| Maybank Family & Friends | Up to 8% on groceries, shopping, dining, food delivery, petrol, transport and entertainment 0.3% on all other retail | $500 (5% cashback) $1000 (8% cashback) | $600 annually | $600 | Groceries |
| UOB One | 3.33% to 5% Qtrly Flat Rate $50/ $100/ $300 | $500/ $1000/ $2000 | $300 quarterly | $1200 | Big expenses |
| UOB YOLO | 8% on weekend transport, dining, entertainment 3% on weekdays 3% on online travel and fashion 0.3% on all other retail | $600 | $80 monthly | $960 | Dining out & Going out |
What’s your go-to cashback credit card? Let us know in the comments below!
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