Best Strategies To Maximise Your Credit Card Cashback

When it comes to picking the best credit cards for cashback rewards, it is often wise to adopt a few strategies such as combining perks with the use of multiple credit cards, or even rotating the usage of cards every month to avoid surpassing cash rebates limits and to get the most out of each cards’ cashback benefits, just to name a few. To find out which strategies are for you, let’s take a look at the best ones our team has listed out.
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Strategy #1: Target category bonuses in everyday spending

One of the fastest ways to maximise your cashback is to maximise your credit card category bonuses. Many credit cards offer double, triple or even quintuple points in certain categories of expenditure. For example, the UOB One Card offers up to 10% on GrabFood spend, purchases at Cold Storage, Giant, Guardian, 7-Eleven, and many more merchants. This is more than 3 times the cash rebate that you’ll get for all other retail spend, which is only 3.33%. 

If you like to eat out and drive often, cards like Citi Cash Back Card will give you up to 8% of cashback benefits on petrol, and up to 6% on dining and groceries. So be sure to know what bonus categories each of your credit cards offer and try to gain the cash back benefits you need or earn bonus points whenever you can.

Strategy #2: Time your big-ticket item purchases

By strategically timing your high-cost purchases, i.e. new furniture for your new home, honeymoon vacation or holiday gifting, etc, you’ll most likely be able to make the most out of the cashback perks that your credit card provides. For instance, if you've just moved into your new house and you’ll probably be spending thousands on new furniture in the coming months, it’ll be wise to wait until then to apply for a new credit card. This way, everything that you’re going to be charging to your credit card can go towards earning significant cash back or even a generous welcome bonus.

Strategy #3: Convert travel rewards to cash rebates

Certain credit cards have loyalty rewards programmes which lets you convert your reward points or even accumulated air miles to cash rebates or other cashback-related benefits. For example, if you hold a OCBC 90°N card, any OCBC Travel$ points you earned are essentially flexible rewards which can be converted to cash rebates or even deals on the OCBC STACK marketplace such as free hotel nights (for exclusive partner hotels), club lounge access dining vouchers and more. 


There’s no minimum spend and no cap on the amount of points you can earn each month. Other cards like Citibank’s Citi PremierMiles card allows you to earn and accumulate Citi air miles, Citi ThankYou PointsSM or Cash Back quickly when you use your Citi PremierMiles card to pay for your big-ticket bills such as rent, insurance premiums, vice versa, which you can easily redeem as cash rebates via their mobile app.


Strategy #4: Watch the cash rebate limit

This strategy requires a bit more bookkeeping for you as you’ll have to make sure to not go over the cash rebate limit of that particular credit card you’re using. You’ve got to maximise the respective categories per month without going over any limits so that your spending efforts will not go to waste. 


Let’s say you’re using the HSBC Visa Platinum card which offers 5% cash rebate on dining, groceries and petrol but has a $250 cash rebate cap per month. So if you’ve spent a huge amount that month and that 5% of your total spending for that month exceeds $250, you’ll still get only $250. Thus, overspending to a certain amount may not be that beneficial when you’re holding certain credit cards with cash rebate limits.

Strategy #5: Make payments in full, on time

When you pay your credit card bills on time and in full, you will not only maintain a good credit score, but also get the most value out of your credit card rewards. As most credit card interest rates are in the double-digits and rewards rates are typically single-digits, carrying a balance may most likely offset your earnings. In order to avoid missing out on any cash back rewards, pay off your statement balance in full for every billing cycle. This will help you avoid an unwanted debt too.

Take A Look At All Cashback Credit Cards

8 Best Credit Cards for Cashback (2025)

Whether you’re looking for a card with cashback benefits for your everyday spending or for specific spending categories, doing a comparison of what’s available at the moment will help you make a better decision.

You might want to also consider a two-card strategy if you're a cashback and travel junkie: One credit card for your everyday expenses to gain cash rebates, and another miles cum cashback card if you plan to use Singapore as a base to fly around Asia.
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How To Pick The Best Cashback Credit Card?

With so many credit cards with cashback benefits to choose from, it gets a little tricky to narrow down the best ones to suit your lifestyle. Truth be told, there’s no single best credit card in Singapore that is perfect for every person as each and every one of us has different spending preferences, annual income, and lifestyle needs and wants. Thus, you’ll have to choose the best one for yourself. Here’s how:
Step 1

Understand your spending habits

Start by analysing your spending patterns. Look at your monthly expenses and identify the categories where you spend the most, such as dining, groceries, transportation, or online shopping. This will help you narrow down cards that offer higher cashback rates in those categories.
Step 2

Evaluate cashback rates and categories

Compare the cashback rates offered by different credit cards. As some cards provide a flat cashback rate on all purchases, others may offer higher rates in specific categories. Cards that align with your spending patterns and offer the highest cashback rates in the categories you frequently spend in will be the most beneficial to you.
Step 3

Check for spending caps or minimum requirements

Some cashback credit cards impose spending caps or minimum requirements to earn cashback. Consider whether you're likely to reach these thresholds based on your spending habits. If your expenses are higher, you might prefer a card with no caps or higher limits.
Step 4

Consider the annual fee

Evaluate the annual fee associated with the credit card. Ensure that the cashback benefits you'll receive outweigh the cost of the annual fee. Some cards offer a waiver of the annual fee, which helps you make some savings.
Step 5

Review additional perks and benefits

Look beyond cashback and consider the supplementary perks and benefits offered by the credit cards. These may include discounts, promotions, travel privileges, insurance coverage, or exclusive access to events. Choose a card that provides additional value based on your lifestyle and preferences.
Step 6

Compare and make an informed decision

Once you have considered all the factors mentioned above, compare the shortlisted credit cards side by side. You may use a comparison tool such as MoneySmart’s best credit cards page to assess which card offers the most favorable cashback rates for you, suits your spending habits, and provides additional benefits that align with your preferences.

Frequently Asked Questions

Which credit card has the best cashback benefits?

There's no single best credit card in Singapore that is perfect for every person as each and every one of us has different spending preferences, annual income, and lifestyle needs and wants. At the moment, the UOB One Card offers one of the highest cash rebates that is up to 15% on GrabFood spend, purchases at Cold Storage, Giant, Guardian, 7-Eleven, and many more merchants. Other cards like Standard Chartered Simply Cash Credit Card, Citi Cash Back Card, CIMB Visa Signature, and OCBC Frank Card offer about up to 8-10% cashback benefits.

Can I convert my reward points or air miles to cash rebates?

Yes and no. Certain credit cards have loyalty rewards programmes which allow you convert your reward points or even accumulated air miles to cash rebates or other cashback-related benefits. For example, if you hold a OCBC 90°N card, any OCBC Travel$ points you earned are essentially flexible rewards which can be converted to cash rebates or even deals on the OCBC STACK marketplace such as free hotel nights (for exclusive partner hotels), club lounge access dining vouchers and more.

Which cards have an unlimited cashback cap?

Currently, Standard Chartered Simply Cash Credit Card, Citi Cash Back+ Mastercard, American Express True Cashback Card, CIMB Visa Infinite and CIMB World Mastercard are among the popular credit cards which do not have a cashback limit.

Do I have to hit a minimum credit card spend amount to enjoy cashback benefits?

Yes and no. Most credit cards do not require you to spend a minimum sum to qualify for the cashback benefits, but certain cards like the Maybank Horizon Visa Signature Card require a minimum spend of S$600 spend/month for all 3 months in a calendar quarter, while cards like the POSB Everyday Card requires you to spend a minimum of S$800 within 60 days from the date of Card approval to enjoy the cashback benefits.

Are there waivers for cashback credit card fees?

Yes, there are many credit cards that offer free waivers for your annual fees, but you’ll have to call in or email or log into your account with your credit card issuing bank to request for it.