Best Credit Card for Paying Electricity Retailer & SP Bills (2023)
Owning your first home is exhilarating. Until the recurring monthly electricity, Wi-Fi and conservancy bills wear it all down. It’s okay, you can still charge your bills to a suitable credit card and earn some cash back. Here are the best credit cards for paying your electricity bills.
Best Credit Cards for Paying Electricity Bills in Singapore
Following the launch of the Open Electricity Market, many Singaporeans have switched to an electricity retailer. Doing so can reduce your electricity bill by 20% to 30%. Whether you're using SP or an electricity retailer like Sembcorp, Geneco or Keppel, here are the best credit cards for more savings.
Check out these credit cards for paying telco bills
Standard Chartered Smart Credit Card Cashback
Standard Chartered Smart Credit Card
- Cashback from Netflix, Spotify, fast food joints and more. *T&Cs apply.
- 6%*
- Annual Fee
- S$0
- Minimum Spend
- S$0
[SmartRewards | Your Points, Your Choice 🫵🏻]
Choose ANY gift at our Rewards Store, including:
1. Nintendo Switch Lite (3,090 SmartPoints)
2. Apple AirPods 3rd Gen (2,720 SmartPoints)
Or any other combination of gifts, by earning 3,100 SmartPoints.
Alternatively, you can also choose to get $250 Cash via PayNow. T&Cs apply.
PLUS, stand a chance to win a Panerai Radomir Quaranta Timepiece (worth S$8,700) OR 16,490 SmartPoints (worth an iPhone 15 Pro, 128GB in the Rewards Store) OR 5,990 SmartPoints (worth an Apple Watch Series 9 (GPS), 41mm in our Rewards Store) when you apply through MoneySmart. T&Cs apply. Check out our past Lucky Draw winners here.
UOB One Card SP Bill Cashback
UOB One Card
- Cashback on McDonald's, DFI Retail Group, Grab, Shopee, SP and more
- Up to 10%
- Cashback Cap per quarter
- S$500
- Min. Spend per month
- S$500
[LUCKY DRAW]
Stand a chance to win a Panerai Radomir Quaranta Timepiece (worth S$8,700) OR 16,490 SmartPoints (worth an iPhone 15 Pro, 128GB in the Rewards Store) OR 5,990 SmartPoints (worth an Apple Watch Series 9 (GPS), 41mm in our Rewards Store) when you apply through MoneySmart. T&Cs apply. Check out our past Lucky Draw winners here.
PLUS get up to 15% Cashback and S$350 Cash Credit from UOB when you successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 for 2 consecutive months from card approval date. T&Cs apply!
The UOB One Card offers quarterly rebates based on how much you spend. This translates to a maximum of 5% cash rebate on all spend including recurring telco and electricity bills. There's also an additional 1% on SP bills, making it effectively 6%.
To get the maximum 5% equivalent of cashback, you need to spend a minimum of $2,000. Otherwise, if you spend $500 or $1,000 every month in one quarter, you get $50 and $100 rebate respectively, which translates to up to 3.33%.
OCBC 365 Electricity Bill Cash Back
OCBC 365 Credit Card
- Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)
- 5%
- with min. spend of $1,600 per month
- Unlock up to $160 Cashback
- with min. spend of $800 per month
- $80 Cashback per month
[LUCKY DRAW]
Get a Hinomi Q1 Ergonomic Chair (worth S$499) OR a Apple AirPods 3rd Gen (worth S$261.40) OR S$280 Amazon SG Gift Card OR S$250 Cash via PayNow when you apply and spend a min. of S$500 in Qualifying Spend within 30 days of card approval. T&Cs apply.
PLUS, stand a chance to win a Panerai Radomir Quaranta Timepiece (worth S$8,700) OR 16,490 SmartPoints (worth an iPhone 15 Pro, 128GB in the Rewards Store) OR 5,990 SmartPoints (worth an Apple Watch Series 9 (GPS), 41mm in our Rewards Store) when you apply through MoneySmart! T&Cs apply. Check out our past Lucky Draw winners here.
HSBC Advance Credit Card Electricity Bill Cash Back
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HSBC Advance Credit Card
- Cash Back on All Spend
- Up to 3.5%
- Base Cashback Cap per calendar month
- S$70
- Min. Spend per month
- S$0
[MONEYSMART LUCKY DRAW | REFERRAL]
Stand a chance to win an Apple Watch Series 9 (GPS), 41mm (worth S$599) when you successfully apply for an eligible HSBC Credit Card through MoneySmart.
Refer friends and family to boost your lucky draw odds. The more you refer, the better your chances! T&Cs apply.
Plus get a Samsonite ZELTUS 69cm Spinner Luggage (worth S$680) or S$150 Cashback from HSBC when you meet the min. spends of S$1,000 upon card approval required and provide marketing consent. T&Cs apply.
HSBC Advance Credit Card potentially allows you to receive a maximum of 3.5% cashback. It's only on two conditions: You consistently spend $2,000 a month and are also an HSBC Advance Banking customer.
Maybank FC Barcelona Visa Signature Card Electricity Bill Cash Back
Maybank FC Barcelona Visa Signature
- Cashback on All Local Spend
- 1.6%
- Cashback Cap
- Unlimited
- Min. Spend per month
- S$0
POSB Everyday Card Electricity Bill Cashback
POSB Everyday Card
- Cash rebates on Online Food Delivery
- Up to 10%
- Cash Rebates on Groceries from Sheng Siong
- Up to 5%
- Cash Rebate on Online Shopping
- Up to 5%
Diners Club CASHBACK Card Electricity Bill Cash Back
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DCS CASHBACK Card
- on all eligible transactions
- Up to 5% Cash Rebate
- Airport Lounge Access and Insurance Coverage
- Complimentary
- Annual Principal Fee
- S$194.40 (inclusive of GST)
One of the highlights of this card is that you’ll be able to enjoy 5% cash rebate for all eligible transactions including payment for your electricity bills, with a minimum spending of S$400 (per month) on your DCS CASHBACK Regular Credit Card.
Best Credit Cards for Recurring Bill Payments (2023)
| Credit Card | Recurring Bill Payments | Min spend |
|---|---|---|
| UOB One | Up to 5% cash rebate on all spend including recurring telco and electricity, excluding town council and insurance premiums | $500 / $1,000 / $2,000 |
| Maybank FC Barca | 1.6% cashback on all local spend, excluding insurance and town council payments | None |
| HSBC Advance Credit Card | 1.5% cash back on recurring telco and utility bill payments with no min. spend 2.5% Cash Back on on recurring telco and utility bill payments with $2,000 minimum spend per month Max 3.5%: Additional 1% for HSBC Advance banking customers | None |
| UOB Delight | 3% cash rebate on telcos, town council, Singapore Power, SPH, UOI insurance | $800 |
| OCBC 365 Credit Card | 3% cashback on recurring bills from Starhub, Singtel, M1, Circles Life, MyRepublic 3% cashback on recurring electricity bills from electricity retailers 1.6% cashback on all local spend, no exceptions | $800 |
| Maybank FC Barca | 1.6% cashback on all local spend, few exceptions | None |
You could save up to 30% by switching to an electricity retailer and using a cashback card
| Singapore Power (25.94c/kWh) | Random Electricity Retailer (18.10c/kWh) | |
|---|---|---|
| 4-room HDB flat, estimated usage 380 kWh | $98.57 | $68.78 |
| 3% cash rebate | $2.96 | $2.06 |
| Total bill | $95.61 | $66.72 |
Best credit cards for paying electricity retailer bills
Following the launch of the Open Electricity Market, many Singaporeans have switched to an electricity retailer as it reduces the electricity bill by 20% to 30%. To get the most cashback from paying your electricity retailer bills, charge it to either one of these 3 cards:
Up to 6%
Additional 1% for Singapore Power transactions stacked on the flat quarterly rebate, potentially up to 6% in total
3% cashback
3% cashback on recurring electricity bills from electricity retailers
1.6% cashback
1.6% cashback on all local spend, excluding insurance and town council payments
Best credit cards for paying SP bills in Singapore
If you still have not switched to another electricity retailer, here are the best credit cards for Singapore Power electricity bills.
Up top 6%
Additional 1% for Singapore Power transactions stacked on flat quarterly rebate, potentially up to 6%
3% SMART$ rebate
3% cash rebate on telcos, town council, Singapore Power, SPH, UOI insurance
1.6% cashback
1.6% cashback on all local spend, excluding insurance and town council payments
Frequently Asked Questions
Which credit card is best for electricity bill payment?
- This question really depends on your lifestyle. The UOB One is an all-rounded card that gives you up to 6% on SP bills and up to 5% on electricity retailer bills, but only on the condition that you spend up to $2,000 a month consistently for the quarter. The "up to 5%" cashback is in the form of a flat quarterly cash payout. If such a minimum spend is too high, spending $500 to $1,000 still gives you up to 3.33% worth of cashback. On the other hand, OCBC 365 offers 3% cashback with a minimum spend of $800. It is also an all-rounded card when it comes to dining and groceries. If you don't want to contend with minimum spend at all, Maybank FC Barcelona Visa Signature and POSB Everyday Card are your best choices.
Who are the electricity retailers in Singapore?
- There are currently 12 electricity retailers in Singapore, Best Electricity, Diamond Electric, Geneco, iSwitch, Keppel Electric, Ohm Energy, PacificLight Energy, Sembcorp Power, Senoko Energy, Sunseap Energy, Tuas Power Supply, Union Power.
What is the average electricity bill in Singapore?
- The larger the property, the higher the electricity bill. The average monthly electricity bill of 4-room HDB is around $150. You can lower this amount by changing to an electricity retailer and charging your bill to a good cashback card.
