Compare the Best Cashback Credit Cards in Singapore 2020

Compare all cashback credit cards to see which one gives you the highest cash back based on your spending habits. read more
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Standard Chartered logo
MoneySmart Exclusive

Standard Chartered Unlimited Cashback Credit Card

Cash Back on eligible spend
Up to 1.5%
Min. Spend per month
$0
Cash Back Cap
Unlimited
Apply Now
MoneySmart Exclusive: Get up to S$250 worth of Cashback, Instant Cash or Grab Credits! Applies to New-to-Bank cardholders. Valid till 13 Apr 2020.
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Citibank logo
MoneySmart Exclusive

Citi Cash Back+ Card

Cash Back on Eligible Spend
1.6%
Min. Spend per month
$0
Cash Back Cap
Unlimited
Apply Now
MoneySmart Exclusive: Get up to S$300 Cash or Grab Credits! Applies to new to bank customers. Valid till 07 Apr 2020.
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Citibank logo
MoneySmart Exclusive

Citi Cash Back Card

Cash Back on Dining, Groceries & Petrol
8%
Cash Back Cap per category, per month
S$25
Min. Spend per month
S$888
Apply Now
MoneySmart Exclusive: Get up to S$300 Cash or Grab Credits! Applies to new to bank customers. Valid till 07 Apr 2020.
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American Express logo

American Express True Cashback Card

Cash Back on All Spend
1.5%
Cash Back Cap
Unlimited
Min. Spend per month
$0
Apply Now
Online Promo: Receive S$60 CapitaVouchers when you apply and spend! Valid till 30 Jun 2020.
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HSBC logo

HSBC Advance Credit Card

Cash Back on All Spend
Up to 3.5%
Cash Back Cap per month
S$125
Min. Spend per month
S$0
Apply Now
Online Promo: Get a Samsonite Prestige 69cm Spinner Exp (worth S$670) OR S$150 Cash Back with min. spend of $800 in first month of card approval + S$20 worth of Grab rides! Valid till 30 Jun 2020.
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OCBC logo

OCBC 365 Credit Card

Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)
6%
Cashback Cap per month
S$80
Min. Spend per month
S$800
Apply Now
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CIMB logo

CIMB Visa Signature

Cash Back on Beauty & Wellness, Online Shopping, Groceries
10%
Min. spend per month
S$800
Cash Back Cap
S$100
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CIMB logo

CIMB Platinum Mastercard

Cash Back on Wine & Dine, Petrol & Transport, Travel
10%
Min. spend per month
S$800
Cash Back Cap
S$100
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DBS logo

DBS Live Fresh Card

Cashback on Online, Visa Contactless
Up to 10%
Cash Back Cap per month
Up to S$80
Min. Spend per month
$1000
Apply Now
Online Promo: Get AirPods or S$200 cashback when you apply online and spend! Valid till 30 Jun 2020.
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UOB logo

UOB YOLO Credit Card

Cash Back on Online, Grab, Dining and Entertainment spend
Up to 10%
Cash Back Cap per month
Up to S$80
Min. Spend per month
S$600
Apply Now
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UOB logo

UOB One Card

Cash Back on Grab
Up to 10%
Cash Back Cap per quarter
S$300
Min. Spend per month, per quarter
S$2000
Apply Now
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Citibank logo

Citibank SMRT Card

Cash Back at Selected Grocery Stores
5%
Cash Back Cap per year
S$600
Min. Spend per month
S$300
Apply Now
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CIMB logo

CIMB World Mastercard

Unlimited cashback on Wine & Dine, Entertainment & Recreation, Automobile and DFS purchases
2%
Min. spend per month
S$0
Cash Rebate cap
Unlimited
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CIMB logo

CIMB Visa Infinite

Unlimited cashback on Travel, Overseas & Online Spend in Foreign Currency
2%
Min. spend per month
S$2,000
Cash Rebate cap
Unlimited
Read More
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POSB logo

POSB Everyday Card

Cash Rebates for everyday essentials
Up to 15%
Cash Rebates cap per month
Up to S$80
Min. Spend per month
S$800
Apply Now
Online Promo: Get AirPods or S$200 cashback when you apply online and spend! Valid till 30 Jun 2020.
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Standard Chartered logo

Standard Chartered Spree Credit Card

Cash Back on Online Spends in Foreign Currency
3%
Cash Back Cap per month
S$60
Min. Spend per month
S$0
Apply Now
Online Promo: Get up to S$100 cashback! Valid till 30 Jun 2020.
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HSBC logo

HSBC Visa Platinum Credit Card

Cash Back on Dining, Groceries, Petrol
5%
Cash Back Cap per quarter
S$250
Min. Spend per month, per quarter
S$600
Apply Now
Online Promo: Get a Samsonite Prestige 69cm Spinner Exp (worth S$670) OR S$150 Cash Back with min. spend of $800 in first month of card approval + S$20 worth of Grab rides! Valid till 30 Jun 2020.
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UOB logo

UOB Delight Card

Cash Back at Selected Grocery Stores
Up to 8%
Cash Back Cap per month
S$50
Min. Spend per month
S$800
Apply Now
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OCBC logo

OCBC Frank Card

Cash Back on Online Spend
6%
Cash Back Cap per month
S$60
Min. Spend per month on Offline Purchases
S$300
Apply Now
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Maybank logo

Maybank Family & Friends Card

Cash Back on Groceries, Dining, Transport and Petrol in Singapore & Malaysia
Up to 8%
Cash Rebate on Shopping and Data communication & online TV streaming
Up to 8%
Min. spend per month
S$800
Apply Now
More Details
Maybank logo

Maybank FC Barcelona Visa Signature

Cash Rebate on All Local Spend
1.6%
Cash Rebate Cap
Unlimited
Min. Spend per month
S$0
Apply Now
More Details
Maybank logo

Maybank Platinum Visa Card

Cash Rebates on All Local Spend
Up to 3.33%
Cash Rebate Cap per quarter
Up to S$100
Min. Spend per month, per quarter
S$1000
Apply Now
More Details
ICBC logo

ICBC Global Travel MasterCard Credit Card

Cash Back on Local Spend
1.5%
Cash Back on Overseas Spend
3%
Min. Spend per month
S$0
Apply Now
Online Promo: Free Worldwide VIP Lounge Access! Valid till 31 Dec 2020.
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ICBC logo

ICBC Chinese Zodiac Credit Card

Cash Back on All Spend
1.6%
Spend per month
S$0
Cash Back Cap
Unlimited
Apply Now
Online Promo: Free Worldwide VIP Lounge Access! Valid till 31 Dec 2020.
More Details
Bank of China logo

Bank of China Qoo10 World Mastercard®

Rebate on Buses & MRT
20%
Rebate Cap per month
S$80
Min. Spend per month
S$600
Apply Now
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Bank of China logo

Bank of China Sheng Siong Card

Cash Back at Sheng Siong
Up to 12%
Cash Back Cap per month
S$90
Min. Spend per month
S$400
Apply Now
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Bank of China logo

Bank of China Zaobao Credit Card

Savings on petrol transactions at Shell and SPC
Up to 30.7%
Cash Rebate on Zaobao and SPH newspaper subscriptions
20%
Cash Rebate on Dining, Online Purchases and Departmental Stores
10%
Apply Now
More Details
Bank of China logo

Bank of China Family Card

Cash Back on Dining and Movies
10%
Cash Back on Selected Merchants and public transport
5%
Cash Back on other spend
3%
Apply Now
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OCBC logo

OCBC Cashflo Credit Card

Cash Rebate with Monthly Bill of S$1,000 and above
1%
Cash Rebate with Monthly Bill below S$1,000
0.5%
Cash Rebate Cap per month
S$100
Apply Now
More Details
Maybank logo

Maybank DUO Platinum Mastercard

Cash Rebate on petrol spend in Singapore and Malaysia
5%
Cash Rebate cap
Unlimited
Min. spend per month
S$0
Apply Now
More Details
Maybank logo

Maybank Manchester United Platinum Visa Card

Cash Rebate when Man. United wins Premier League
3%
Cash Rebate on ALL spend
1%
Cash Rebate cap
Unlimited
Apply Now
More Details
ICBC logo

ICBC Horoscope Credit Card

Cash Back on Foreign Currency Spend
3%
Min. Spend per month
S$0
Cash Back Cap
Unlimited
Apply Now
Online Promo: Free Worldwide VIP Lounge Access! Valid till 31 Dec 2020.
More Details

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Best Cashback Credit Cards Singapore

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.
Last Updated: March 28, 2020

CashbackCashback 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 PointsReward 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

Air MilesMiles 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. Standard Chartered Visa Infinite Credit Card: Use for spending in foreign currency

Compare the best credit cards for miles using Moneysmart's online comparison tool

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.

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?

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.

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%.

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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.

Standard Chartered Unlimited Cashback vs Citi Cashback vs AMEX True Cashback: Which is best?

The best cashback credit card is the best one that fits your lifestyle perfectly. If you’re the type who would always tap your card for every payment, look into Standard Chartered Unlimited Cashback credit card. There’s no cap, so can shop all you want and earn unlimited cashback. When it comes to dining out, groceries and petrol, the Citi Cashback credit card takes the top spot. The AMEX True Cashback credit card is rather straightforward. They give out 1.5% cashback with no minimum spend, no cap and no strings attached. So if you want an uncomplicated card, this card is for you.

How to choose the best cashback credit card?

Shop around and compare the best cashback credit cards. Check the categories that you usually spend on and the cashback rate. Then go for the one that matches your spending habits.