Compare the Best Cashback Credit Cards in Singapore 2018

Updated November 2018

Earn up to 8% cash rebates with a cashback credit card. Compare and find the best cashback credit card to earn the highest rebates based on your spending habits.

Popular Cash Back Credit Cards

American Express True Cashback Card
Excellent
American Express True Cashback Card
Excellent

1.5%

Cash Back on All Spend

Unlimited

Cash Back Cap

S$0

Min. Spend per month

  • Get S$20 NTUC Voucher
  • 3% Cashback for the first 6 months

Cash Back Features

  • 1.5% Cashback on any purchase you make, anytime
  • 3% Cashback for the first 6 months up to $5000 spend
  • Enjoy first year fee waiver
  • Eligible for use with Apple Pay

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$171
Supplementary Annual Fee85.6
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period22 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationAmerican Express
Wireless PaymentApple Pay, Samsung Pay, Google Pay
HSBC Advance Credit Card
Excellent
HSBC Advance Credit Card
Excellent

Up to 3.5%

Cash Back on All Spend

S$125

Cash Back Cap per month

S$0

Min. Spend per month

  • Option 1: Get a Samsonite Astra 55cm luggage (worth S$350)
  • Option 2: S$100 Cash Back

Cash Back Features

  • 1.5% Cash Back on all purchases with no minimum spend / 2.5% Cash Back on all purchases with $2,000 minimum spend per month. Capped at $70 per month
  • For HSBC Advance banking customers: 2.5% Cash Back on all purchases with no minimum spend / 3.5% Cash Back on all spend with S$2,000 minimum spend per month. Capped at S$125 per month
  • 1st year principal card annual fee waiver for non-HSBC Advance banking customers / Perpetual principal card annual fee waiver for HSBC Advance banking customers
  • Perpetual supplementary card annual fee waiver

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$193
Supplementary Annual Fee0.0
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period20 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$40,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay
UOB One Card
Excellent
UOB One Card
Excellent

Up to 5%

Cash Back on All Spend

S$300

Cash Back Cap per quarter

S$2000

Min. Spend per month, per quarter

  • Get up to $170 cash credit when you apply online and for the One Account

Cash Back Features

  • Up to 5% cash rebate on all spend for spend above S$2,000/month per quarter (up to 3.33% cash rebate for spend of $500 or $1,000 monthly)
  • Up to 10% additional SMART$ rebate with UOB SMART$ Rebate Programme

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$193
Supplementary Annual Fee1st supplementary card free; $96.30 for subsequent cards
Fee WaiverAvailable
Minimum Monthly Repayment3% of S$50, whichever is higher
Interest Free Period21 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$40,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay, Samsung Pay, Android Pay, Mighty Pay
OCBC 365 Credit Card
Excellent
OCBC 365 Credit Card
Excellent

6%

Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)

S$80

Cashback Cap per month

S$800

Min. Spend per month

Cash Back Features

  • 6% cashback on local and overseas dining, everyday
  • 6% cashback on online food delivery e.g. Deliveroo and Foodpanda
  • Up to 23% fuel savings at Caltex stations
  • 3% cashback on local, overseas and online groceries e.g. Redmart, FairPrice Online and Honestbee
  • 3% cashback on local and overseas private hire rides e.g. Grab, ComfortDelGro, Ofo and Ryde
  • 3% cashback on online air, cruise, hotel and tour bookings e.g. Agoda and Airbnb
  • 3% cashback on recurring telco and electricity bills
  • 0.3% cashback on everything else

Annual Interest Rate and Fees

Annual Interest Rate26.88%
Principle Annual Fee$193
Supplementary Annual FeeS$96.30
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$45,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay, Samsung Pay, Google Pay
Bank of China Zaobao Credit Card
Excellent
Bank of China Zaobao Credit Card
Excellent

Up to 30.7%

Savings on petrol transactions at Shell and SPC

20%

Cash Rebate on Zaobao and SPH newspaper subscriptions

10%

Cash Rebate on Dining, Online Purchases and Departmental Stores

Cash Back Features

  • 20% Cash Rebate on Zaobao & SPH newspaper subscriptions
  • 12% Cash Rebate at BreadTalk
  • 10% Cash Rebate at Buzz, Dining, Department Stores and Online spend
  • 5% Cash Rebate on spend in Mainland China
  • Minimum spend: S$600 per month
  • Cash Rebate cap at S$80 per month

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationUnionPay
Wireless PaymentN/A
Bank of China Qoo10 World Mastercard®
Excellent
Bank of China Qoo10 World Mastercard®
Excellent

20%

Rebate on Buses & MRT

S$80

Rebate Cap per month

S$600

Min. Spend per month

  • Unlimited rebate on Overseas Spend
  • Enjoy up to 15% rebate

Cash Back Features

  • 15% Rebate on Qoo10 transactions, with an overall min. spend of S$600 per month
  • 3% Rebate on Qoo10 transactions, with an overall min. spend of S$300 per month
  • 20% Rebate on Public Transport Spend (SBS/SMRT buses & MRT), with an overall min. spend of S$600 per month
  • 5% Rebate on Public Taxi and Grab, Local Dining, Entertainment and Online Shopping, with an overall min. spend of S$600 per month
  • 5% Rebate on Overseas spend with an overall min. spend of S$600 per month at no rebate cap till 31 Dec 2018
  • Cash Rebate cap of S$40 on Qoo10 transactions, and S$40 on all other transactions per month except overseas spend
  • All rebates in form of Qmoney where 1 Qmoney = S$1

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationMastercard
Wireless PaymentN/A
Bank of China Family Card
Excellent
Bank of China Family Card
Excellent

10%

Cash Back on Everyday Dining and Movies

5%

Cash Back on Online Purchases, Hospital Bills, Telco bills, etc

S$100

Cash Back per month

Cash Back Features

  • 10% Cashback on Everyday Dining (locally and overseas) and Cinemas
  • 5% Cashback on Online Purchases, Supermarkets, Hospital Bills, NETS FlashPay Auto Top Up (first 4 top-ups) and Telco Bills
  • 5% Cashback at Selected Mercents: Best Denki, BIG BOX, Watsons, Unity Pharmacy, Toys 'R' Us, Welcia-BHG
  • Minimum spend: S$700 per month
  • Total cashback cap at $100 per month: $30 for dining and movies, $30 for online purchases, and $40 for selected merchants and all other spend
  • Base rate: 0.3% on all other purchases and if minimum spend of $700 is not met

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentN/A
POSB Everyday Card
Very Good
POSB Everyday Card
Very Good

5%

Cash Back at Sheng Siong

S$50

Cash Back Cap for Sheng Siong

S$0

Min. Spend per month

  • Enjoy 10% cash rebates on overseas spend
  • Online Exclusive: Up to 20% cash rebates

Cash Back Features

  • Up to 20.1% cash rebate at SPC
  • 5% cash rebate at Sheng Siong. S$50 cash rebate cap per calendar month.
  • 3% cash rebate at Watsons, and local medical spend (dental, clinic, hospital)
  • 1% cash rebate on recurring utilities bills from SP Group and recurring StarHub mobile/digital cable/broadband bills and ins-tore purchases
  • Get 0.3% on everything else
  • No minimum spend required

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$193
Supplementary Annual Fee96.3
Fee WaiverAvailable
Minimum Monthly Repayment3% or $80, whichever is higher
Interest Free Period20 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$45,000

Other

Card AssociationMasterCard
Wireless PaymentMasterCard PayPass, Apple Pay, Samsung Pay, Google Pay
Standard Chartered Spree Credit Card
Very Good
Standard Chartered Spree Credit Card
Very Good

3%

Cash Back on Online Spends in Foreign Currency

S$60

Cash Back Cap per month

S$0

Min. Spend per month

MoneySmart Exclusive: Free up to S$300 worth of Cash + Cashback + Amazon Prime Now Credit
  • Get 15% cashback with Grab

Cash Back Features

  • Get up to S$300 worth of Cash + Cashback + Amazon Prime Now Credit when you apply for SCB Spree Card via MoneySmart
  • Important – Go to MoneySmart Claim Form to submit your (1) Contact Details and (2) 11 digit Reference Number on the Thank You Page upon completion on or before 30 Nov 2018 for your S$50 Cash Gift. Full T&Cs here
  • 3% cashback on all online spends in foreign currency and vPost spends
  • 2% cashback on all online spends in local currency, contactless and mobile payments
  • 1% cashback on all other retail transactions

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$193
Supplementary Annual Fee0.0
Fee WaiverAvailable
Minimum Monthly Repayment1% or S$50, whichever is higher
Interest Free Period

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay, Samsung Pay, Google Pay
HSBC Visa Platinum Credit Card
Very Good
HSBC Visa Platinum Credit Card
Very Good

5%

Cash Back on Dining, Groceries, Petrol

S$250

Cash Back Cap per quarter

S$600

Min. Spend per month, per quarter

  • Option 1: Get a Samsonite Astra 55cm luggage (worth S$350)
  • Option 2: S$100 Cash Back

Cash Back Features

  • 5% cash rebate on dining, groceries and petrol with min. S$600 spend/month for all 3 months in a calendar quarter
  • S$250 cap per account per quarter

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$193
Supplementary Annual Fee0.0
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period20 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$40,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay
DBS Live Fresh Card
Very Good
DBS Live Fresh Card
Very Good

Up to 5%

Cash Back on Online Spend & Contactless Payments

S$60

Cash Back Cap per month

S$600

Min. Spend per month

  • Online Exclusive: Up to S$150 cashback
  • Win a pair of SQ Suites return tickets to one of these 5 locations

Cash Back Features

  • 5% cashback on online shopping and when you pay using Visa payWave, Apple Pay, Samsung Pay or Google Pay through your Card
  • Lazada: 30% off storewide for new shoppers with ‘LAZDBSNEW’; Valid till 31 Dec 2018
  • Expedia: 20% off eligible hotel bookings with ‘DBS10EXP’ at checkout; Valid till 31 Jan 2019, and travel till 30 Apr 2019
  • Base rate: 0.3% on all other spend

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$128
Supplementary Annual Fee64.2
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period20 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$45,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Apple Pay, Samsung Pay, Google Pay
UOB Delight Card
Very Good
UOB Delight Card
Very Good

Up to 8%

Cash Back at Selected Grocery Stores

S$50

Cash Back Cap per month

S$800

Min. Spend per month

  • Get up to $120 cash credit when you apply online

Cash Back Features

  • 8% or 3% cash rebate at Cold Storage, Market Place, Jasons, Giant, and Guardian. Minimum spend: S$800/S$400 per month respectively
  • 3% cash rebate on ALL contactless transactions and selected recurring bills. Minimum spend: S$400/month
  • Cash rebate cap: S$50/month, no cap on SMART$ earned at SMART$ Merchants.
  • Base rate: 0.3% cashback on spends less than S$400 and on all other spend

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$86
Supplementary Annual Fee53.5
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period21 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$40,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, NETS FlashPay, Apple Pay, Samsung Pay, Android Pay, Mighty Pay
OCBC Frank Card
Very Good
OCBC Frank Card
Very Good

6%

Cash Back on Online Spend and Mobile Payments

S$60

Cash Back Cap per month

S$300

Min. Spend per month on Offline Purchases

Cash Back Features

  • 6% rebate on online shopping
  • 6% rebates on mobile payments for Apple Pay, Samsung Pay and Google Pay, valid till 31 Dec 2018
  • 3% rebate on first 2 top-ups for NETS FlashPay Auto Top-Up
  • 0.3% rebate on everything else
  • Up to 5% rebate for entertainment
  • Monthly offline min. spend of S$300 (excludes online and NETS FlashPay Auto Top-Up spend), capped at S$60 for all rebates

Annual Interest Rate and Fees

Annual Interest Rate26.88%
Principle Annual Fee$80
Supplementary Annual Fee$40
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$45,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, NETS FlashPay, Apple Pay, Samsung Pay, Google Pay
Bank of China Sheng Siong Card
Very Good
Bank of China Sheng Siong Card
Very Good

Up to 12%

Cash Back at Sheng Siong

S$90

Cash Back Cap per month

S$400

Min. Spend per month

Cash Back Features

  • 7% cash rebate on Sheng Siong transactions, no minimum spend, capped at $70 per month
  • Additional 5% cash rebate on Sheng Siong transactions, minimum out-store spend of $400 per month, capped at $20 per month
  • 5% cash rebate on Grab and all taxi rides in Singapore, minimum total retail spend of $400 per month, capped at $20 per month
  • 1% cash rebate on Overseas Spend with no minimum spend and no cap
  • 0.3% cash rebate on all other spend with no minimum spend and no cap

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$30
Supplementary Annual Fee$15
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentN/A
Maybank FC Barcelona Visa Signature
Very Good
Maybank FC Barcelona Visa Signature
Very Good

1.6%

Cash Rebate on All Local Spend

Unlimited

Cash Rebate Cap

S$0

Min. Spend per month

Cash Back Features

  • 1.6% Unlimited cash rebate on all local spend
  • No minimum spend and no cash rebate cap

Annual Interest Rate and Fees

Annual Interest Rate25.90%
Principle Annual Fee$120
Supplementary Annual FeeComplimentary
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$20, whichever is higher
Interest Free Period20 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave, Samsung Pay
Show more cards

Best Cashback Credit Cards 2018

Best Credit Cards for Everyday Use

In order to maximize your credit card rewards, it is often a good choice to combine multiple credit cards each specializing in a particular spending type or card feature that best suits your lifestyle. Avoid paring Miles credit cards with Cashback credit cards since these reward types are incompatible. Points credit cards, on the other hand, are more flexible as they can be used to either get cash rebates on specific merchants or convert points into miles to redeem free flight tickets.

Air Miles

Miles Credit Cards

  1. Citi PremierMiles Visa Card: Use for online hotel and flight bookings
  2. UOB PRVI Miles Card: Use for general local spend
  3. BOC Elite Miles World Mastercard®: Use for spending in foreign currency

Cashback

Cashback Credit Cards

  1. Citi Cash Back Card: Use for grocery shopping worldwide
  2. UOB One Card: Use for pumping petrol at SPC and Shell
  3. OCBC 365 Credit Card: Use for spending on everyday dining

Reward Points

Reward Points Credit Cards

  1. Citi Rewards Card: Use for retail shopping to earn extra miles
  2. American Express CapitaCard: Use for shopping at CapitaLand Malls to earn cash rebates
  3. DBS Woman's World Card: Use for free gym memberships

How Do Cashback Credit Cards Work?

Rather than offering rewards points or air miles like other credit cards, a cashback credit card rewards you with a cash rebate instead. This amount is credited to your account, effectively giving you a discount off your credit card bill. New to the world of cash back credit cards? Here’s the lingo you should know before you jump in:

Basic Cashback

Also known as “base rate”, this is the standard cash rebate you can expect to receive on your purchases, regardless of when, where, how or with whom it’s made. Typically this falls around 0.25%. Pathetic, right?

Bonus Cashback

Here’s where the real cash rebates are. Bonus cashback is awarded when you perform specific types of spending (e.g. online purchases or telco bills) or with the bank’s partner merchants (e.g. Grab or NTUC FairPrice). These are awarded on top of the base cash rebate and can be pretty high - as much as 10%.

Introductory offers

Some cards offer introductory cashback promotions, such as a higher cashback rate for the first few months, or maybe a bonus rebate when you make your first purchase. Be aware of the limited nature of these promotions and of any terms & conditions.

Which is the Best Cashback Credit Card?

Despite all these frightening terms & conditions, cashback credit cards are actually good entry-level cards for everyday use - once you understand what you’re signing up for, that is. They typically come with low-income requirements (usually around $30,000 annually) which most young working adults can hit fairly easily, and in most cases, annual fees are waived.

You also don’t need to spend a huge amount of money in order to enjoy cash rebates. The secret is in choosing the best cash back credit card for you. To get the most out of your cashback credit card, pick one that is perfectly aligned to your actual spending habits. For example, if you spend a lot on clubbing or online shopping, look for a card that offers hefty bonus cashback rates on these categories or merchants.

If you are not a particularly big spender in any one category (or you simply can’t predict your spending patterns), go for one with a high base cashback rate, provided you can meet the minimum spend requirements.

More From The MoneySmart Blog

Check out our blog for more personal finance tips and insights.

Can You Really Get Unlimited Cash Back?

In most cases, no. Cashback credit cards come with loads of terms & conditions, which you’ll need to check before signing up. Not only do banks set limits on how much cash rebates you can get, but there are also additional requirements to fulfill each month. (Expected lah. If banks gave away money too freely, they wouldn’t be in business, right?. Here’s what to look out for:

Cashback Cap

Credit card issuers often have a cap on how much cash rebate you can earn each month. Some are evenly split by bonus category. You may be surprised to find that your 20% Grab cashback is capped at $10! Look at the cap, then work backward and figure out how much you can spend on the card before you hit the cap.

Minimum Spend

Many cashback credit cards require you to spend this amount before you qualify for the advertised cashback rates. These can range from reasonable amounts like $500 or $600, to hefty sums like $2,000 a month. If your planned expenditure is nowhere near that minimum, it makes little sense to apply for the card.

Cashback Categories

It’s very important to make sure that your credit card’s bonus cashback categories/merchants reflect your actual spending habits. An 8% rebate at supermarkets isn’t very useful if you mostly dine out. And if you usually pump petrol at Shell, then for goodness’ sake don’t get a credit card offering cash rebates at Caltex.

Minimum Balance Payment for Credit Cards

Is paying the minimum balance bad?

Because credit cards are effectively short-term loans, you are meant to pay off your bills in full every month. If you make only the minimum payment each month, you may accrue huge additional costs on top of your bill due to the credit card’s interest rate (typically 24%+)!

Does paying only minimum balance affect credit score?

Yes, If you plan to apply for any kind of credit or loan (such as a housing loan or car loan) in the future, be aware that any “bad behavior” with your credit card can come back to haunt you in the form of a bad credit score.

Frequently Asked Questions

What does it mean to get cash back on a credit card?

No, you won’t get your cashback credited into your bank account (or receive a wad of money in the mail, for that matter). Cash back credit cards don’t work that way, sadly. You won’t get actual “cash” that you can see and use right away. Instead, you’ll get the amount credited back to you on your card. When your cashback is in, your credit card statement will reflect a positive charge. In other words, you’ll have $X of credit to use for free. This basically gives you a discount off your next bill, so you’ll need to continue using your credit card after the cashback comes in.

What’s the highest cash back you can get with a credit card?

Cashback credit cards in Singapore are extremely competitive and dynamic. Just a year ago, 5% cashback seemed like a very generous offer, but by today’s standards, it’s bordering on misery. Banks have really upped their game especially when it comes to a merchant- or category-specific cashback. These days, it’s not uncommon to see 10% rebates or even 12%. However, many of these generous sounding rebates have tons of restrictions, most commonly minimum spends, cash back caps, and expiry dates. So they’re not THAT easy to get hold of.

Is it worth getting a cash back credit card?

This is a totally subjective matter and it really, really depends on how you like to be rewarded. There are two main camps out there - Team Cashback and Team Air Miles. Team Cashback likes instant gratification. These are the folks who feel good about life when they snag a cup of bubble tea for $2.50 instead of $3. On the other hand, those on Team Air Miles would rather not waste time with small discounts and aim for big “prizes”, like free Business Class flights, and don’t mind playing the long game for a big payoff at the end. So ultimately, the only person who can say it’s worthwhile to get a cashback credit card is YOU.