Best Strategies To Maximise Your Credit Card Cashback

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 youâll 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, youâll 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 youâll probably be spending thousands on new furniture in the coming months, itâll be wise to wait until then to apply for a new credit card. This way, everything that youâre 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.
Thereâs no minimum spend and no cap on the amount of points you can earn each month. Other cards like Citibankâs 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 youâll have to make sure to not go over the cash rebate limit of that particular credit card youâre using. Youâve got to maximise the respective categories per month without going over any limits so that your spending efforts will not go to waste.
Letâs say youâre 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 youâve spent a huge amount that month and that 5% of your total spending for that month exceeds $250, youâll still get only $250. Thus, overspending to a certain amount may not be that beneficial when youâre 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.
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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.

How To Pick The Best Cashback Credit Card?
Understand your spending habits
Evaluate cashback rates and categories
Check for spending caps or minimum requirements
Consider the annual fee
Review additional perks and benefits
Compare and make an informed decision
Exclusive: Most Popular Credit Cards in Singapore


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 youâll have to call in or email or log into your account with your credit card issuing bank to request for it.