Compare the Best Cashback Credit Cards in Singapore 2018

Updated September 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

  • 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

  • 1 Million $1 Deals Weekly Deal: S$1 for a bag of South Africa Red Apples from Giant (U.P. S$3) till 23 Sep
  • Get up to $200 Cash Credit when you apply online

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
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 AssociationVisa
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

  • 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
Show more cards

Best Cashback Credit Cards 2018 - Summary

Best ForCredit CardCashback Cap ; Min Spend
Unlimited cashback with Ez-link capabilitiesStandard Chartered Unlimited Cashback Credit CardUnlimited ; $0 per month
Savings on dining, grocery and grab spendingsCiti Cash Back CardS$25 per category ; S$888 per month
Savings on big purchasesAmerican Express True Cashback CardUnlimited ; $0 per month
All Day DiningUOB YOLO Credit CardS$100 ; S$600 per month
Savings on recurring telco billsHSBC Visa Platinum Credit CardS$120 per quarter ; S$800 per month, per quarter
Highest cashback on Grab ridesStandard Chartered Spree Credit CardS$30 ; $900 per month
Cash rebates on public transport (bus, train and taxi)Maybank Family & Friends CardS$50 ; S$1000/S$500 per month
Cash rebates at Sheng Siong, Watsons and SPCPOSB Everyday CardS$50 on Sheng Siong ; $0 per month

What is a Cashback Credit Card?

Cashback credit cards fall under the broader category of rewards credit cards, where consumers accumulate points for every dollar charged to the card. These points can then be redeemed for “rewards” such as gift vouchers, appliances, etc.

A cashback credit card, however, rewards you with a cash rebate instead. This amount varies quite a lot among credit cards but typically falls between 1% and 5%, though some credit cards have attractive bonus cash rebates to reward certain types of spending.

Cashback Credit Cards 101s

New to the world of cashback credit cards? Here are the key features you need to know before you sign up.

Basic Cashback

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

Bonus Cashback

Many credit cards offer tie-ups with brands and retailers ranging from Uber to Sheng Siong, offering higher cashback rates (as high as 8%). Some also offer higher rates for specific types of spending, e.g. online purchases, telco bills. Note the fine print on these and be sure they are a good fit for your actual spending habits.

Introductory Promotions

Some cards offer introductory cashback promotions such as a higher rate for the first few months or a $100 bonus with your first purchase. Be aware of the limited nature of these promotions and of any terms & conditions.

Other Things to Take Note of

Don’t be too seduced by claims that sound too good to be true. That big red “20% CASH REBATE!!!” line splashed all over the brochure probably comes with a catch. To prevent disappointment, read the terms & conditions carefully and note the following:

Minimum Spend

Certain attractive cashback rates only apply for hefty minimum spends, say of $2,000 and up. If your planned expenditure is nowhere near that minimum, it makes little sense to apply for the card.

Cashback Cap

Credit card issuers often have a cap on how much cash rebate you can earn per quarter. You may be surprised to find that your 20% cashback only has a $10 cap.

More From The MoneySmart Blog

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

Frequently Asked Questions

Who should get a cashback credit card?

Cashback credit cards are good entry-level cards for everyday use. 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. They are also set up such that you can enjoy some form of cash rebate even if you don’t spend a huge amount of money, so you can still enjoy their benefits even if you live quite a frugal lifestyle.

How do I choose the best cashback credit card for me?

You can get the most out of your cashback credit card if you 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 (these can be as high as 8%) on these categories or merchants. If you are not a particularly big spender in any one category, pick the card with the highest base rate, provided you can meet the minimum spend requirements.

Do I really get my rebate in cold hard cash?

While we would dearly love to receive a cheque or a nice wad of cash every month, this isn’t usually how credit card cash rebates are paid out these days. Instead, the cashback amount is credited to your account, effectively giving you a discount off your next credit card bill.