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.
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 |
8%
Cash Back on Dining, Grab rides, 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 | 96.3 |
| 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 12%
Cash Back All Week on Grab, Dining and Entertainment
Up to S$100
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
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 |
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
| 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 |
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 | Visa |
|---|---|
| Wireless Payment | N/A |
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 |
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 |
| Best For | Credit Card | Cashback Cap ; Min Spend |
|---|---|---|
| Unlimited cashback with Ez-link capabilities | Standard Chartered Unlimited Cashback Credit Card | Unlimited ; $0 per month |
| Savings on dining, grocery and grab spendings | Citi Cash Back Card | S$25 per category ; S$888 per month |
| Savings on big purchases | American Express True Cashback Card | Unlimited ; $0 per month |
| All Day Dining | UOB YOLO Credit Card | S$100 ; S$600 per month |
| Savings on recurring telco bills | HSBC Visa Platinum Credit Card | S$120 per quarter ; S$800 per month, per quarter |
| Highest cashback on Grab rides | Standard Chartered Spree Credit Card | S$30 ; $900 per month |
| Cash rebates on public transport (bus, train and taxi) | Maybank Family & Friends Card | S$50 ; S$1000/S$500 per month |
| Cash rebates at Sheng Siong, Watsons and SPC | POSB Everyday Card | S$50 on Sheng Siong ; $0 per month |
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.
New to the world of cashback credit cards? Here are the key features you need to know before you sign up.
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.
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.
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.
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:
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.
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.
Check out our blog for more personal finance tips and insights.
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.
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.
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.
