Why Trust MoneySmart?Key takeaways
Unlimited cashback credit cards have no monthly cap, but typically offer lower cashback rates.
They’re best for high spenders or those making big one-off purchases who often exceed capped card limits.
Always review spend exclusions and annual fees to gauge your potential returns accurately.
Some cards offer added perks such as travel insurance, which can provide extra value for frequent travellers.
What is an unlimited cashback credit card?
An unlimited cashback credit card gives you cashback on every eligible purchase—without a monthly cap. Unlike regular cashback cards that limit how much you can earn, these cards let you keep earning, no matter how much you spend. Many of these cards also do not have minimum spend requirements, which means it doesn’t matter how little you spend either.
Why are they popular?
No maximum cashback each month
Simple, flat-rate rewards on most spends
Less effort tracking categories or caps
Keep in mind: unlimited cashback rates are usually lower than capped cards, so they’re best for those who spend above average each month. To compare options, see all cashback credit cards in Singapore.
How it differs from high-cap cashback cards
The main difference between an unlimited cash back credit card and a high-cap cashback card comes down to limits and rates. Unlimited cards let you earn cashback on every eligible dollar you spend, with no monthly cap. In contrast, high-cap cards offer higher cashback rates, but only up to a fixed monthly spending limit—after that, your rewards stop or drop significantly.
Key trade-offs:
Unlimited cashback credit cards: Lower cashback rate, but no earning ceiling
High-cap cards: Higher cashback rate, but capped monthly rewards
If your spending often exceeds the cap on traditional cards, unlimited options can deliver more total cashback over time. Otherwise, high-cap cards may offer better returns for moderate monthly spending.
How unlimited cashback credit cards work
Unlimited cashback credit cards are designed for simplicity: spend and earn cashback on almost every transaction, with minimal restrictions. Here’s how they typically function in Singapore:
Cashback rates you can expect
Most unlimited cashback credit cards offer a flat rate between 1.5% and 1.7% on eligible spending. Some cards may offer a slightly higher bonus rate as a welcome promotion for the first few months, and often for a limited spend. For example, the American Express True Cashback Card earns you 3% cashback on up to $5,000 spend in the first 6 months, then an unlimited 1.5% cashback thereafter.
Eligible spending categories
You’ll generally earn cashback on most everyday purchases. However, some cards exclude categories such as insurance premiums, education, healthcare, utilities, or government payments. Cards like the UOB Absolute Cashback Card are more flexible—they include insurance, education, and utilities as eligible spends.
Minimum spend requirements (if any)
Most unlimited cashback credit cards have no minimum spend to earn cashback. One exception is the CIMB World Mastercard, which requires a monthly minimum spend to unlock its highest cashback rate on certain categories.
Pros and cons of unlimited cashback credit cards
Unlimited cashback credit cards come with unique strengths and trade-offs, making them especially appealing for some spending styles.
Pros
No monthly cap on cashback—earn as much as you spend.
Great for large, one-off purchases (like furniture or luxury items) that would exceed caps on other cards.
Simple, flat-rate structure makes rewards easy to understand.
Ideal for high or irregular spenders who routinely exceed capped card limits.
Some cards include categories usually excluded (e.g., insurance, education).
Cons
Lower cashback rates than capped cards.
Some categories (like utilities or government payments) may still be excluded on certain cards.
Not always the best choice for moderate spenders—high-cap cards can offer more if you keep within their monthly limits.
Key things to check before choosing an unlimited cashback card
Before you apply for an unlimited cashback credit card, look closely at these factors:
Cashback rate: The flat percentage you’ll earn on most eligible transactions.
Excluded categories: Some cards exclude spending on things like insurance, utilities, or education, so review the fine print.
Annual fee: Most cards waive it for the first year, but check how much you’ll pay after that.
Cashback crediting: Cashback may be credited to your bill in the same month or in the next statement cycle.
Minimum spend: Some cards require you to spend a certain amount to access the highest cashback rate.
Foreign currency fees: Charges apply if you use your card overseas, so factor these in if you travel or shop internationally.
Additional perks: Some cards offer extra benefits like purchase protection or travel insurance, which may suit your needs.
Best Credit Cards with Unlimited Cashback
Card | Cashback rate | Annual Fee | Minimum income | Cashback crediting |
|---|---|---|---|---|
1.6% | $196.20 (waived first year) | $30,000(SG/PR); $45,000 (foreigner) | Same month’s statement | |
1.5% (3% promo) | $174.40 (waived first year) | Not disclosed | Same month’s statement | |
2% (selected categories) / 1% | No annual fee | $30,000(SG/PR) | Next month’s bill | |
1.6% | $196.20 (waived first year) | $30,000(SG/PR); $42,000 (foreigner) | Via Citibank SG app | |
1.5% | $196.20 (waived first year) | $30,000(SG/PR); $60,000 (foreigner) | Next month’s bill | |
1.7% | $196.20 (waived first year) | $30,000(SG/PR); $40,000 (foreigner) | Next month’s bill |
There’s no shortage of choices when it comes to the best unlimited cashback credit cards in Singapore. If you want maximum inclusivity—where almost every purchase earns cashback—the UOB Absolute Cashback Card stands out as it even covers insurance, healthcare, and utilities.
For the highest base rate, CIMB World Mastercard gives 2% on select categories if you meet a minimum spend, while cards like OCBC INFINITY Cashback and Citi Cash Back+ offer a solid flat rate on most everyday spending.
Key things to check before choosing an unlimited cashback card
When choosing the best unlimited cashback credit card for your lifestyle, it’s important to go beyond just the headline cashback rate. Here’s what to pay close attention to:
Eligibility and minimum income: Make sure you meet the income requirement—this can vary between cards and for foreigners.
Cashback exclusions: Not all spending qualifies. Common exclusions include insurance, utilities, government payments, and education.
Annual fee after waiver: Many cards waive the first year’s fee, but consider whether you’re comfortable with the ongoing cost.
Cashback crediting process: Some cards credit cashback immediately to your bill, while others take a month or require manual redemption.
Minimum spend rules: While most unlimited cashback cards don’t require one, exceptions exist (e.g., CIMB World Mastercard for bonus rates).
Foreign currency transaction fees: If you shop or travel overseas, these can affect your net cashback.
Extra benefits: Some cards offer useful perks like purchase protection or travel insurance, which may tip the balance for your needs.
Taking a few moments to compare these details will help you select the best unlimited cashback credit card for your own habits and priorities.
Unlimited cashback vs capped cashback credit cards
Choosing between an unlimited cash back credit card and a capped cashback card depends on how you spend and what you want from your rewards.
| Unlimited cashback credit cards | Capped cashback credit cards |
|---|---|---|
Cashback rate | Lower flat rate (e.g., 1.5–1.7%) | Higher rate (often 3–8%) on specific categories |
Earning limit | No monthly cap—earn unlimited cashback | Cashback capped (e.g., $60 per month); no further rewards after cap |
Best for | High or irregular spenders; large one-off purchases | Moderate, category-focused spenders |
Ease of use | Simple—no need to track categories or caps | Requires tracking spend to maximise rewards |
Spending types | Usually applies to most purchases (with exclusions) | Higher rates limited to groceries, dining, etc. |
Which is right for you?
If your monthly spending regularly exceeds the cap on standard cards, or if you have large, one-off expenses, an unlimited cashback credit card could give you more total rewards over time.
If your spending is focused and fits within the typical monthly cap, a capped card with a higher cashback rate might offer better value.
To see your options side-by-side, check out which credit cards give the highest cashback in Singapore.
