A rising phenomenon – Cashback
The history of Cashback originated from the idea of loyalty and encouraging customers to make repeat purchases. As savvy customers, let us find the best ways to save money in our everyday lives 🙂
Today, we compare the best cards, online and offline methods to get the most cash back on your purchases. At the end, we discuss a simple strategy on how to get the best deals by stacking up the various methods!
Bonus: Our community has also informed us that ShopBack has a huge special called 9.9 today and tomorrow with legit discounts and upsized deals. If you are looking to buy stuff, especially travel and retail… don’t miss it.
TL;DR: Here are the Winners!
Presenting to you, the various winners from the different categories below. This was also taken by a straw poll of our community who mission is to help each other make smarter financial decisions.
|Best Cashback Debit Card||DBS Visa Debit||5% for all paywave|
|Best Cashback Credit Card (lower spend)||OCBC 365 Card||3 to 6% for everything|
|Best Cashback Credit Card (high spend)||CITI Cashback Card||8% for dining and groceries|
|Best Offline Cashback||Fuzzie Mobile app||10 to 20% for offline merchants|
|Best Online Cashback||ShopBack Web & App||3% to 30% for online merchants|
Further Reading: Pros & Cons of each product
Find out more about each product’s pros and cons. Learn about how you can utilize and leverage each strength to spend smarter to save more every day.
Update: Due to popular request, we decided to go in-depth into which are the best Cashback Cards in the 2017 market now!
Product 1: DBS Visa Debit Card
Since 2016, DBS/POSB users have been migrating over to this debit card to simply get 5% off all Paywave transactions with VISA.
- Pros: Every merchant in SG largely has Paywave (e.g F&B, Shopping etc)
- Cons: Unable to get Cashback on online purchases, which are common now
- How to get it: Simply head over to their site or app and apply it for FREE!
Product 2: BOC Family Card
This was a surprise, brought up by one of the users and now is becoming a common card many Singaporean working adults.
- Pros: Easy to use and awesome for working adults who spend online and offline. Gives you a good selection of rebates for example 7% on all dining.
- Cons: The minimum spend is $500 for the month to qualify for the Cashback and it’s capped at $100 per month
- How to get it: Simply head over to their site and get it for FREE! Totally not paid.
You can actually refer to this chart we did up recently, and go into this article for more information and analysis on the best cashback cards in SG now!
Product 3: CITI Cashback Card
A relative newcomer to this Cashback scene, this card allows later stage working adults with at a higher monthly spend up to 8% cashback.
- Pros: Great for people who eat out often, shop for groceries and take a ton of GRAB rides (refer to screenshot below)
- Cons: It’s a higher spend amount, and capped at $25 for each category
- How to get it: Bonus, we found out that if you apply through ShopBack, you can actually get extra $30 cash on top of your first-time bonus
Product 4: Fuzzie Mobile App
Started by a local founder, this SG born start-up basically found a way to get instant Cashback for everyday offline purchases using gift cards. Pretty legit!
- Pros: Good to use for an everyday option and stored value, especially if you frequent shops like COSTA coffee, and Dunkin Donuts often
- Cons: Only for limited merchants for now and does not cover all. Your credits are stuck in the platform
- How to get it: Head on over to their site to find out more!
Product 5: ShopBack Cashback Online
Also, another local SG born start-up founded in 2014, this is one of the largest regional Cashback sites for online purchases.
- Pros: A sure win idea to simply click through and get money back on your purchases (a ton of merchants online, over 1300 global retailers)
- Cons: You cannot use ShopBack for your daily purchases at offline venues, but hopefully this changes some time soon!
- How to get it: An exclusive deal for additional $8 Cashback immediately, head on over to this link here when you sign up!
Conclusion: Learn to “Cashback-stack” them all!
In today’s world, online marketing is changing the game. You would most likely have to buy something online or offline so why not find ways to spend smarter and start saving dollars?
For example, if you are buying a $2k Laptop from LAZADA online:
- Go through ShopBack to get 11% Cashback ($28 capped)
- At checkout, use an OCBC365 card to get that additional 3% Cashback ($60)
- TOTAL CASHBACK: $28 + $60 = $88
Ain’t that just awesome! Stay smart and have fun in this new world! Consumer is king 😀 If you are still looking for more tools to save, click here! Did we miss anything? Let us know in the comments below 🙂