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Only Want One Credit Card? Here Are The Ones That Cover The Most Categories!

profileJustin Oh

Are you someone who prefers simplicity and would rather just have one credit card to concentrate all your spending on?

Or perhaps, you’re just someone who can’t be bothered with all the Merchant Category Codes (MCCs) and all sorts of other Terms and Conditions (T&Cs)?

Source: Giphy

Well, you’ve come to the right place!

As someone who has a ton of credit cards now, I feel the pain of dealing with all T&Cs, MCCs, and having just one too many CCs (credit cards).

So, here are my recommendations if I could only have just one credit card based on the widest coverage of categories, ease of use, and rewards!

TL;DR: Best Credit Cards With The Most Spending Categories

If you are completely brand new to credit cards, do check out our ultimate guide to credit cards before returning to this article!

Disclaimer: This is a non-sponsored article. The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before signing up for any products.

Which Credit Card Suits You?

Before we begin, you’ll need to identify what type of credit card suits you!

In general, cashback credit cards are less complicated than miles or rewards, but for the full rundown of differences, check out this article:

As always, everyone’s spending habits are different and there may be other cards better suited for you.

But for this article, I will recommend just two credit cards that most young adults should consider having.


  • An adult earning more than $30k annually
  • Has good financial discipline to own a credit card

Unlimited Cashback Credit Cards

As mentioned previously, cashback credit cards are some of the simplest credit cards to use. These cards are the most fuss-free but come at a cost of lesser rewards when compared to miles or rewards credit cards.

Then again, you really can’t put a price tag on simplicity!

The first card that I (and the majority of the Seedly Community) would recommend is the Standard Chartered Simply Cash Credit Card.

Apply Now

Standard Chartered Simply Cash Credit Card:

  • Cashback:
    • 1.5% on virtually ALL spend (except the typical credit card exclusions such as insurance payments and top-ups to wallets)
  • Min. Monthly Spend: N.A.
  • Cashback Cap: N.A.
  • Annual Fee: S$194.40 (first two years waived)
  • Effective Interest Rate: 26.90% p.a.
  • Income Requirement:
    • $30,000 per year for Singaporeans and PRs
    • $60,000 for Foreigners
  • Minimum Age: 21

This card is an unlimited cashback credit card, which means that you can get 1.5% cashback on virtually ALL your spending with no minimum spending or caps!

But wait a minute, other cards give higher cashback, right? Like the UOB Absolute Cashback (1.7%), American Express True Cashback (3% for the first 6 months, 1.5% thereafter) or the Citi Cash Back Plus (1.6%).

Let me explain! For any American Express card, which the UOB Absolute is too, you might find it hard to find merchants to use it due to the lack of acceptance. Otherwise, AMEX cards would easily be number one.

As for the Citi Cash Back Plus, cashback can only be redeemed via SMS, an extra hurdle for just 0.1% more cashback.

The Standard Chartered Simply Cash Credit Card, on the other hand, is a MasterCard that is widely accepted and automatically offsets your next credit card bill with the cashback you’ve earned, hence making it the number one fuss-free credit card for all your spending needs.

Even so, here are some other unlimited cashback credit cards that you may consider:

Higher Cashback/Miles/Rewards Credit Cards 

If you don’t mind putting in a little more work to optimise your spending, you may consider opting for regular cashback, miles, or rewards credit cards.

These credit cards often have cashback caps and specific categories that you’ll need to take note of in order to enjoy higher cashback. 

While researching for this piece, I found out that there is really only one card that beats all the others in the cashback, miles, AND rewards categories. 

Enter the HSBC Revolution Credit Card:

Apply Now

HSBC Revolution Card:

  • Cashback:
    • 10x points (2.5% cashback or 4 miles per dollar) for online payments (including food deliveries, online shopping, and travel)
    • 10x points (2.5% cashback or 4 miles per dollar) for contactless payments through Visa PayWave, Apple Pay, and Google Pay
    • 1x points (0.25% cashback or 0.4 miles per dollar) for all other spends
  • Min. Monthly Spend: N.A.
  • Cashback Cap: Bonus 10X points are capped at $1,000 spend per calendar month
  • Annual Fee: No annual credit card fee
  • Effective Interest Rate: 25.90% p.a.
  • Income Requirement:
    • $30,000 per year for Singaporeans and PRs
    • $40,000 for Foreigners
  • Minimum Age: 21

This card is indeed revolutionary as it is a rewards credit card where you can stock up on miles or cashback, depending on your preference.

It may not be as fuss-free as the Standard Chartered Simply Cash credit card, as you will only earn reward points when you spend on the following merchants:

Category MCCs
Airlines, Car Rental, Lodging, Cruise Lines and Travel Agencies 3000 to 3350, 3351 to 3500, 3501 to 3999, 4411, 4511, 4722, 7011
Department Stores and Retail Stores 4816, 5045, 5262, 5309, 5310, 5311, 5331, 5399, 5611, 5621, 5631, 5641, 5651, 5655, 5661, 5691, 5699, 5732 to 5735, 5912, 5942, 5944 to 5949, 5964 to 5970, 5992, 5999
Supermarkets, Dining and Food Delivery 5411, 5441, 5462, 5499, 5811, 5812, 5813, 5814
Transportation and Membership Clubs 4121, 7997

Whether you’re a miles or cashback person, this card has it all. It is a staple in the wallets of miles-chasers with 4 miles per dollar and is also a no-minimum-spend cashback card with 2.5% cashback.

HSBC Revolution Bonus Cashback

That’s not all.

HSBC states that you can get an additional 1% cashback* on your credit card spending with the HSBC Everyday+ Rewards Programme when you:

  • Step 1 Save: Deposit fresh funds of a minimum of $2,000 (or $5,000 for HSBC Premier customers) into your HSBC Everyday Global Account each calendar month.
  • Step 2 Transact: Perform a minimum of five Eligible Transactions^ each calendar month.

Note: The additional 1% HSBC Everyday+ Cashback is capped at $300 (or $500 for HSBC Premier customers) per calendar month.
*HSBC Everyday+ Rewards Programme T&Cs apply.
^Eligible transactions refer to posted transactions in SGD made with HSBC credit cards and/or HSBC Everyday Global Debit Card, GIRO bill payments in SGD made via HSBC Everyday Global Account and/or fund transfers from HSBC Everyday Global Account to a non-HSBC account.

HSBC Promotion

From 1 May to 31 October 2023, HSBC will be running the Sure-Win Promotion as part of the Everyday+ Rewards programme.

There are 18,000 prizes to be won, with 10,000 Grand Lucky prizes including Oscar’s Buffet Lunch for 2 at Conrad Hotel, NTUC and Takashimaya vouchers, and one night stay at Centennial Suite with Executive Floor benefits and breakfast for 2.

On top of a 1% cashback on qualifying credit card transactions, HSBC EGA holders will earn 1% bonus interest on incremental SGD balances.

To qualify for the Sure-Win Promotion, HSBC customers will need to maintain the respective minimum balances and make 5 eligible transactions on the account.

HSBC EGA Welcome Gift: Deposit incremental SGD Average Balances with your EGA account to earn up to 5.7% Max. Bonus Interest Rate when you qualify for HSBC Everyday+ Rewards Program. T&Cs apply.

For miles-chasers, the only downside that you’ll encounter is the higher miles conversion fees of S$40 compared to the rest:

For some of the more experienced credit card gurus, you might be asking:

What about the Citi Rewards Card paired with Amaze?

Well, that famous pairing does not cover travel! And for those who do travel, a bulk of expenses will be on travel spending such as flights and hotels. Although the card also gives 4 miles per dollar on eligible spend, it falls short for those who prefer cashback (2.28% cashback versus HSBC Revolution’s 2.5% cashback)

And well, Citi Rewards plus Amaze is technically considered two credit cards, not one!


Again, I would like to stress that everyone’s preferences for credit cards are different. But for most Singaporeans who only want to use one credit card, the above are the recommended cards! 

Are you using just one credit card? Comment below and tell us why it is the best credit card for you!

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About Justin Oh
Your average Zillennial who is obsessed with anime, games, movies and of course, personal finance. Join me as I break down personal finance into easily digestible and fun bits!
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