Updated January 2019
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.
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8%
Cash Back on Dining, Grab, Groceries & Petrol
S$25
Cash Back Cap per category, per month
S$888
Min. Spend per month
8%
Cash Back on Dining, Grab, Groceries & Petrol
S$25
Cash Back Cap per category, per month
S$888
Min. Spend per month
| Annual Interest Rate | 26.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | $96.30 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 1% or S$50, whichever is higher |
| Interest Free Period | 25 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $42,000 |
| Card Association | MasterCard, Visa |
|---|---|
| Wireless Payment | Visa payWave, MasterCard PayPass, Samsung Pay, Citi Pay |
Up to 8%
Cash Back on Online, Grab, Dining and Entertainment spend
Up to S$80
Cash Back Cap per month
S$600
Min. Spend per month
Up to 8%
Cash Back on Online, Grab, Dining and Entertainment spend
Up to S$80
Cash Back Cap per month
S$600
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | N/A |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 21 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $40,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay, Samsung Pay, Android Pay, Mighty Pay |
1.5%
Cash Back on All Spend with no cap
S$0
Min. Spend per month
Unlimited
Cash Back Cap
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 0.0 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 1% or S$50, whichever is higher |
| Interest Free Period |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | MasterCard |
|---|---|
| Wireless Payment | MasterCard PayPass, Apple Pay, Samsung Pay, Google Pay |
1.5%
Cash Back on All Spend
Unlimited
Cash Back Cap
S$0
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $171 |
| Supplementary Annual Fee | 85.6 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 22 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | American Express |
|---|---|
| Wireless Payment | Apple Pay, Samsung Pay, Google Pay |
Get up to S$250
Up to 3.5%
Cash Back on All Spend
S$125
Cash Back Cap per month
S$0
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 0.0 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $40,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay |
Up to 5%
Cash Back on All Spend
S$300
Cash Back Cap per quarter
S$2000
Min. Spend per month, per quarter
Up to 5%
Cash Back on All Spend
S$300
Cash Back Cap per quarter
S$2000
Min. Spend per month, per quarter
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 1st supplementary card free; $96.30 for subsequent cards |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% of S$50, whichever is higher |
| Interest Free Period | 21 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $40,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay, Samsung Pay, Android Pay, Mighty Pay |
6%
Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)
S$80
Cashback Cap per month
S$800
Min. Spend per month
6%
Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)
S$80
Cashback Cap per month
S$800
Min. Spend per month
| Annual Interest Rate | 26.88% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | S$96.30 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 23 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $45,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay, Samsung Pay, Google Pay |
20%
Rebate on Buses & MRT
S$80
Rebate Cap per month
S$600
Min. Spend per month
| Annual Interest Rate | 28.88% |
|---|---|
| Principle Annual Fee | $190 |
| Supplementary Annual Fee | $95 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 23 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | Mastercard |
|---|---|
| Wireless Payment | N/A |
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
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
| Annual Interest Rate | 28.88% |
|---|---|
| Principle Annual Fee | $190 |
| Supplementary Annual Fee | $95 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 23 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | UnionPay |
|---|---|
| Wireless Payment | N/A |
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
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
| Annual Interest Rate | 28.88% |
|---|---|
| Principle Annual Fee | $190 |
| Supplementary Annual Fee | $95 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 23 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | N/A |
5%
Cash Back at Sheng Siong
S$50
Cash Back Cap for Sheng Siong
S$0
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 96.3 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or $80, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $45,000 |
| Card Association | MasterCard |
|---|---|
| Wireless Payment | MasterCard PayPass, Apple Pay, Samsung Pay, Google Pay |
3%
Cash Back on Online Spends in Foreign Currency
S$60
Cash Back Cap per month
S$0
Min. Spend per month
3%
Cash Back on Online Spends in Foreign Currency
S$60
Cash Back Cap per month
S$0
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 0.0 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 1% or S$50, whichever is higher |
| Interest Free Period |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay, Samsung Pay, Google Pay |
Get up to S$250
5%
Cash Back on Dining, Groceries, Petrol
S$250
Cash Back Cap per quarter
S$600
Min. Spend per month, per quarter
5%
Cash Back on Dining, Groceries, Petrol
S$250
Cash Back Cap per quarter
S$600
Min. Spend per month, per quarter
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $193 |
| Supplementary Annual Fee | 0.0 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $40,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay |
Up to 5%
Cash Back on Online Spend & Contactless Payments
S$60
Cash Back Cap per month
S$600
Min. Spend per month
Up to 5%
Cash Back on Online Spend & Contactless Payments
S$60
Cash Back Cap per month
S$600
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $128 |
| Supplementary Annual Fee | 64.2 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $45,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Apple Pay, Samsung Pay, Google Pay |
Up to 8%
Cash Back at Selected Grocery Stores
S$50
Cash Back Cap per month
S$800
Min. Spend per month
Up to 8%
Cash Back at Selected Grocery Stores
S$50
Cash Back Cap per month
S$800
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $86 |
| Supplementary Annual Fee | 53.5 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 21 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $40,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, NETS FlashPay, Apple Pay, Samsung Pay, Android Pay, Mighty Pay |
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
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
| Annual Interest Rate | 26.88% |
|---|---|
| Principle Annual Fee | $80 |
| Supplementary Annual Fee | $40 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$50, whichever is higher |
| Interest Free Period | 23 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $45,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, NETS FlashPay, Apple Pay, Samsung Pay, Google Pay |
1.6%
Cash Rebate on All Local Spend
Unlimited
Cash Rebate Cap
S$0
Min. Spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $120 |
| Supplementary Annual Fee | Complimentary |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$20, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | Visa |
|---|---|
| Wireless Payment | Visa payWave, Samsung Pay |
Up to 8%
Cash Rebate at selected merchants
Up to 8%
Cash Rebate on bus, train, and taxi rides
S$1000
Min. spend per month
Up to 8%
Cash Rebate at selected merchants
Up to 8%
Cash Rebate on bus, train, and taxi rides
S$1000
Min. spend per month
| Annual Interest Rate | 25.90% |
|---|---|
| Principle Annual Fee | $180 |
| Supplementary Annual Fee | 0.0 |
| Fee Waiver | Available |
| Minimum Monthly Repayment | 3% or S$20, whichever is higher |
| Interest Free Period | 20 days |
| Singaporean | $30,000 |
|---|---|
| Foreigner | $60,000 |
| Card Association | MasterCard |
|---|---|
| Wireless Payment | MasterCard PayPass, Samsung Pay, Maybank Pay |
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.
Compare the best credit cards for miles using Moneysmart's online comparison tool
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:
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?
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%.
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.
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.
Check out our blog for more personal finance tips and insights.
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:
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.
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.
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.
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%+)!
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.
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.
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.
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.
