Compare the Best Cashback Credit Cards in Singapore 2024

Compare all cashback credit cards to see which one gives you the highest cash back based on your spending habits. Read More
We found 40 Credit Cards for you!
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Citibank logo
MoneySmart Exclusive
FASTER REWARDS REDEMPTION | SONY PS5 FLASH DEAL
Cash Back on Eligible Spend
1.6%
Min. Spend per month
S$0
Cash Back Cap
Unlimited

[FLASH DEAL: WIN A SONY PS5]
Stand a chance to win a Sony PlayStation®5 SLIM Digital Edition (CFI-2018B01) (worth S$669) on top of your baseline gifts when you are one of 3 successful claims at 2pm & 9pm daily!
 
Unlock Exclusive Rewards
The rest can still earn 5,040 SmartPoints or S$300 cash when you apply and meet the minimum spend within 30 days from card approval date. T&Cs apply.
 
Why Choose SmartPoints?
Enjoy the ultimate flexibility to redeem ANY gift at our Rewards Store.
Short on points? Simply pay the difference with cash, and grab your desired gift today!

Valid until 26 Feb 2024 - See more details below
Promotion ends in
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HSBC logo
MoneySmart Exclusive
HSBC GIVEAWAY: UP TO S$338 CASH
on Online Spend and Contactless Payments
S$1 = 10X Points
on All Other Spend
S$1 = 1X Point
for every 10 Points
Earn 4 Miles

[FLASH DEAL: WIN UP TO S$338 CASH!]
Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or S$300 GrabGifts Vouchers or S$250 Cash via PayNow when you apply for an eligible HSBC credit card and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month.
 
PLUS stand a chance to win an S$88 Cash Bonus on top of your baseline gift, when you meet the giveaway criteria! T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Promotion ends in
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UOB logo
MoneySmart Exclusive
Get up to 15% Cashback | S$50 CASH BONUS
Cashback on McDonald's, DFI Retail Group, Grab, Shopee, SP and more
Up to 10%
Cashback Cap per quarter
S$500
Min. Spend per month
S$500

[FLASH DEAL: S$50 Cash Bonus]
Secure an extra S$50 Cash via PayNow on top of the online promotion by being one of the first 100 successful claims to apply through MoneySmart! T&Cs apply.
 
PLUS get up to 15% Cashback and S$350 Grab Vouchers from UOB when you successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 for 2 consecutive months from card approval date. T&Cs apply!

Valid until 29 Feb 2024 - See more details below
Promotion ends in
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Standard Chartered logo
MoneySmart Exclusive
1.5% UNLIMITED CASHBACK
Cash Back on Eligible spend
Up to 1.5%
Min. Spend per month
S$0
Cash Back Cap per month
Unlimited

Unlock Exclusive Rewards
Earn 4,500 SmartPoints or up to S$350 cash* when you apply and meet the minimum spend within 1 month from card approval date. T&Cs apply.
 
Why Choose SmartPoints? 
Enjoy the ultimate flexibility to redeem ANY gift at our Rewards Store.
Short on points? Simply pay the difference with cash, and grab your desired gift today!

Valid until 29 Feb 2024 - See more details below
Apply Now
CIMB logo
MoneySmart Exclusive
Unlimited 2% Cashback
Unlimited Cashback on the following categories (Wine & Dine, Online Food Delivery, Movies & Digital Entertainment, Taxi & Automobile, Luxury Goods)
Up to 2%
Min. spend per month to qualify for 2% Cashback
S$1,000
Cash Rebate cap
Unlimited

Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or a Sony WF-1000XM5 Wireless Noise Cancelling Headphones (worth S$429) or S$280 Cash via PayNow when you apply and spend a min of S$988. T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Apply Now
Citibank logo
MoneySmart Exclusive
FASTER REWARDS REDEMPTION | SONY PS5 FLASH DEAL
Cash Back on Dining, Groceries & Petrol
Up to 8%
Total Cash Back Cap, per month
S$80
at Shell & Esso
Up to 20.88% savings

[FLASH DEAL: WIN A SONY PS5]
Stand a chance to win a Sony PlayStation®5 SLIM Digital Edition (CFI-2018B01) (worth S$669) on top of your baseline gifts when you are one of 3 successful claims at 2pm & 9pm daily!
 
Unlock Exclusive Rewards
The rest can still earn 5,040 SmartPoints or S$300 cash when you apply and meet the minimum spend within 30 days from card approval date. T&Cs apply.
 
Why Choose SmartPoints?
Enjoy the ultimate flexibility to redeem ANY gift at our Rewards Store.
Short on points? Simply pay the difference with cash, and grab your desired gift today!

Valid until 26 Feb 2024 - See more details below
Apply Now
UOB logo
Online Promo
Get Unlimited 1.7% Cashback
Cash Back on Eligible Spend
1.7%
Min. Spend per month
S$0
Cash Back Cap
Unlimited
Online Promo:
Get up to S$350 Grab Vouchers from UOB when you are the first 200 new-to-UOB customers who successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 per month, for 2 consecutive months from the card approval date. T&Cs apply.
Valid until 29 Feb 2024 - See more details below
Apply Now
OCBC logo
Earn up to 10% cashback
Cash Back
Up to 10%
Cash Back Cap per month
S$100
Min. Total Spend per month
S$800
Read More
HSBC logo
MoneySmart Exclusive
HSBC GIVEAWAY: UP TO S$338 CASH
Cash Back on All Spend
Up to 3.5%
Base Cashback Cap per calendar month
S$70
Min. Spend per month
S$0

[FLASH DEAL: WIN UP TO S$338 CASH!]
Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or S$300 GrabGifts Vouchers or S$250 Cash via PayNow when you apply for an eligible HSBC credit card and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month.
 
PLUS stand a chance to win an S$88 Cash Bonus on top of your baseline gift, when you meet the giveaway criteria! T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Apply Now
Standard Chartered logo
MoneySmart Exclusive
EARN SMARTPOINTS | Up to 6% Cashback
Cashback from Netflix, Spotify, fast food joints and more. *T&Cs apply.
6%*
Annual Fee
S$0
Minimum Spend
S$0

Earn up to 1,890 SmartPoints or up to S$250 cash* when you apply, and spend a minimum of S$200 in "Qualifying Spends" within 30 days from card approval date, followed by another S$1,000 in "Qualifying Spends" within the following 30 calendar days.

Customers who choose SmartPoints will be free to choose ANY gift of choice at our Rewards Store. Enjoy ultimate flexibility today! T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Apply Now
HSBC logo
MoneySmart Exclusive
HSBC GIVEAWAY: UP TO S$338 CASH
Cash Back on Dining, Groceries, Petrol
5%
Cash Rebate Cap per quarter
S$250
Min. spend monthly in a calendar quarter
S$600

[FLASH DEAL: WIN UP TO S$338 CASH!]
Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or S$300 GrabGifts Vouchers or S$250 Cash via PayNow when you apply for an eligible HSBC credit card and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month.
 
PLUS stand a chance to win an S$88 Cash Bonus on top of your baseline gift, when you meet the giveaway criteria! T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Apply Now
American Express logo
MoneySmart Exclusive
Unlimited Cashback
Welcome Bonus (on all eligible purchases, up to S$5,000 spend in the first 6 months)
3.0% Cashback
on all eligible purchases
1.5% Cashback
Cash Back Cap
Unlimited

Get S$150 Cash via PayNow when you apply for an American Express True Cashback Card and spend a min. of S$500 in Qualifying Spends within the first month of card approval! T&Cs apply.

Valid until 28 Feb 2024 - See more details below
Apply Now
POSB logo
Online Promo
Earn Cash Rebates that Never Expire
Cash rebates on Online Food Delivery
Up to 10%
Cash Rebates on Groceries from Sheng Siong
Up to 5%
Cash Rebate on Online Shopping
Up to 5%
Online Promo:
Get S$388 Cashback when you apply and make the min. spend of S$800 within 60 days of card approval. T&Cs apply.
Valid until 31 May 2024 - See more details below
Apply Now
DBS logo
Online & Visa Contactless Spend
Cashback on Contactless & Online Spend
Up to 5%
Cashback Cap per month
Up to S$75
Min. Spend per month
S$600
Apply Now
DBS logo
Online Promo
Miles or Cashback – you decide
Local Spend
S$1 = 1.5 miles or 1.5% cashback
Overseas Spend
S$1 = 2.2 miles or 2.2% cashback
when you pay the Card's Annual Fee
25,000 Bonus Miles
Online Promo:
Get up to 85,000 miles (for New Cardmembers) or up to 40,000 Miles (Existing Cardmembers) when you sign up and make a min. spend of S$4,000 within 30 days of card approval and payable annual fee required. T&Cs apply.
Valid until 31 May 2024 - See more details below
Apply Now
OCBC logo
High Spend on Dining
Cashback on Everyday Dining (Including Local, Overseas and Online Food Delivery)
5%
with min. spend of $1,600 per month
Unlock up to $160 Cashback
with min. spend of $800 per month
$80 Cashback per month
Read More
OCBC logo
Earn up to 1.8% unlimited cashback
Cashback
Up to 1.8%
Min. Spend
S$0
Cashback Cap
Unlimited
Read More
Maybank logo
Earn up to 8% Cashback
globally on 5 preferred cashback categories PLUS all other Malaysian Ringgit spend
8%
cashback on all other spend
0.3%
Fee Waiver
3 years annual fee waived
Apply Now
Maybank logo
Cashback on Local & Foreign Spend
Up to 3.33%
Min. Spend per month
S$300
Cashback Cap per quarter when you spend S$300 per month
S$30
Apply Now
CIMB logo
MoneySmart Exclusive
Unlimited 2% Cashback
Unlimited cashback on Travel, Overseas & Online Spend in Foreign Currency
2%
Min. spend per month
S$2,000
Cash Rebate cap
Unlimited

Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or a Sony WF-1000XM5 Wireless Noise Cancelling Headphones (worth S$429) or S$280 Cash via PayNow when you apply and spend a min of S$988. T&Cs apply.

Valid until 29 Feb 2024 - See more details below
Apply Now

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.

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

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

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 and 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 Income FairPrice). These are awarded on top of the base cash rebate and can be pretty high - as much as 10%.

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 and 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 10% foodpanda cashback is capped at $15! 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.

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.

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

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 Simply Cash 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.

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.