Best Credit Card for Paying Electricity Retailer & SP Bills (2024)

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.

masthead-media

Best Credit Cards for Paying Electricity Bills in Singapore (2024)

MoneySmart Exclusive
AMAZING APRIL PROMOTION
MoneySmart Exclusive
AMAZING APRIL PROMOTION

UOB One Card

Cashback on McDonald's, DFI Retail Group, Grab, Shopee, SP and more
Up to 20%
Cashback Cap per quarter
Up to S$500
Min. Spend per month
S$500

[MoneySmart x UOB CHRISTMAS GIVEAWAY]
The first 100 customers can get an Apple Watch SE 40mm (GPS) (worth S$349), the next 100 customers can get an Apple AirPods 4 Noise Cancellation (worth S$249) and the remaining customers can get S$50 Cash when you spend a min of S$1,000 in Eligible Transactions! T&Cs apply.
 
Additionally, enrol in our Rollin' Rewards campaign for FREE and stand a chance to win 50,000 SmartPoints and redeem epic rewards!
 
UOB Online Promotion: Get up to 20% Cashback on daily favourites like Shopee, Grab, McDonald's, SimplyGo and DFI Retail Group! T&Cs apply.

Valid until 15 Dec 2024

The UOB One Card offers quarterly rebates based on how much you spend. Besides the 5% cashback on McDonald’s, DFI Retail Group, Grab, Shopee Singapore, SimplyGo and UOB Travel spend, there's also up to 4.33% cashback on SP utilities bills.

To get the maximum 10% 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 lower rebates.

High Spend on Dining
High Spend on Dining

OCBC 365 Credit Card

Cashback on Fuel Spends
6%
Cashback on Everyday Dining
5%
with min. spend of $1,600 per month
Unlock up to $160 Cashback
The OCBC 365 offers 3% on recurring bill payments including telco and utility bills. In addition, the card offers 5% for dining and online food delivery and 3% off local, overseas and online groceries. There are petrol discounts at Caltex, Esso and Sinopec as well, making it a great breadwinner's card.
MoneySmart Exclusive
Earn up to 3.5% Cashback | Instant Activation*
MoneySmart Exclusive
Earn up to 3.5% Cashback | Instant Activation*

HSBC Advance Credit Card

Base Cashback
1.5%
Cashback when you spend more than S$2,000
2.5%
Cashback Cap per month
S$70

Get S$199 Cash via PayNow or 3,500 SmartPoints  when you apply, spend a min. of S$500 from Card Account Opening Date to end of the following calendar month! Pay Annual Fee for HSBC TravelOne Card. T&Cs apply.
 
Additionally, enrol in our Rollin' Rewards campaign for FREE and stand a chance to win 50,000 SmartPoints. That’s enough to redeem ANY item from our Rewards Store, such as a Sony BRAVIA 3 85-Inch 4K Ultra HD Google TV (worth S$5,799) + an Apple iPhone 16 Plus 128GB (worth S$1,399).

Valid until 15 Dec 2024

HSBC Advance Credit Card potentially allows you to receive a maximum of 2.5% cashback, provided that you spend above $2,000 a month as a HSBC Advance credit cardholder.

Online Promo
on All Local Spend
1.6% Unlimited Cashback
on Spend in Foreign Currency
S$1 = 2X Points
Min. Spend per month
S$0
Online Promo:
Receive a Samsonite ENOW SPINNER 69/25 EXP (worth S$570), or S$200 Cashback when you apply for a new Maybank Credit Card and a CreditAble account, spend a min. of S$600 in Eligible Transactions each month for the first two consecutive months upon card approval. T&Cs apply.
Valid until 31 Dec 2024
For Maybank FC Barcelona, the cashback on telco payments is the same as all local spend at 1.6% (excluding insurance and town council payments). The greatest thing about this card is that there is no minimum spend and no cap, so you don't need to strategise about how to spend money in order to get the maximum cashback.
Online Promo
Earn Cash Rebates that Never Expire
Online Promo
Earn Cash Rebates that Never Expire

POSB Everyday Card

Cash rebates on Online Food Delivery
Up to 10%
Cash Rebates on Groceries from Sheng Siong & RedMart
Up to 5%
Fuel Savings at SPC
Up to 20.1% + 2%
Online Promo:
Get S$150 Cashback when you apply and make the min. spend of S$800 within 60 days of card approval. T&Cs apply.
Valid until 31 Jan 2025
If you just started adulting, the POSB Everyday Card is a great hassle-free card that has no minimum spend and a reasonable cap of $100 for utilities bill cashback (the cashback cap limits are different for the other spending categories). The cashback rate for recurring utilities bills (with SP, Union Power, and others) and phone bills (with Singtel, StarHub, M1, MyRepublic and more) is up to 3% at the moment.
Online Promo
Online Promo

DCS CASHBACK Card

on all eligible transactions
Up to 5% Cash Rebate
Airport Lounge Access and Insurance Coverage
Complimentary
Annual Principal Fee
S$196.20 (inclusive of GST)
Online Promo:
Get a CATERPILLAR Luggage Bag (worth S$220) when you apply for a minimum of any 2 eligible DCS cards and spend a minimum of $350 monthly for 2 consecutive months OR apply for an eligible DCS card and spend a minimum of S$450 monthly for 2 consecutive months. T&Cs apply.
Valid until 31 Dec 2024

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 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:

UOB One

Up to 4.33%

Up to 4.33% cashback for utilities bill

OCBC 365

3% cashback

3% cashback on recurring electricity bills from electricity retailers

Maybank FC Barca

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.

POSB Everyday Card

3% rebate

3% cash rebates at SP Group, Union Power, Tuas Power and Geneco

DCS CASHBACK Card

1.6% cashback

1.6% cashback on all local spend, including payment for your electricity bills

HSBC Advance Card

1.5% rebate

1.5% is the flat rate if you spend below $2,000 a month, but up to 2.5% rebate for all spending, with minimum spend of above $2,000

Are Your Parents To Blame for Your Poor Money Habits?

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 4.33% on SP bills, but only on the condition that you spend up to $2,000 a month consistently for the quarter. On the other hand, POSB Everyday card and OCBC 365 card offer 3% cashback with a lower minimum spend. If you don't want to contend with minimum spend at all, Maybank FC Barcelona Visa may be a better option for you.

Who are the electricity retailers in Singapore?

There are quite a number of electricity retailers in Singapore now, and they include Best Electricity, Diamond Electric, Geneco, iSwitch, Keppel Electric, Ohm Energy, PacificLight Energy, Sembcorp Power, Senoko Energy, Sunseap Energy, Tuas Power Supply, Union Power.