Money doesn’t grow on trees, but with the number of cashback credit cards in Singapore, it sure feels like it. Instead of the reward points system that many cards offer, cashback credit cards give you a cash rebate. Cash rebates work much better than rewards points because they usually don’t expire, and you don’t have to redeem them for vouchers that will just force you to spend more!
|Citi Cash Back Card||HSBC Advance Card||DBS Live Fresh Card|
|Basic Cashback||0.25%||1.5%||5% (online/app transactions)|
|Bonus Cashback||7.75% (Dining, Grab, Petrol, Groceries)
|1% (for spending above $2,000/month)
1% (for HSBC Advance account holders)
|5% (payments made via Visa Paywave)|
|Cashback cap||$25 per category (on bonus cashback)||$125 (HSBC Advance account holders) or,
$70 (Non-account holders)
Because there are almost as many cashback credit cards in Singapore as beauty queen hopefuls, it may seem like none of them truly stand out. However, you just need to look at your own lifestyle and spending habits to find out which credit card will give you the most cashback rebates without any inconvenience to you. Here are three of the best cashback credit cards in Singapore, in no particular order:
1. For the busy executive – the Citi Cash Back Card
- Get S$120 Cashback
- MoneySmart Exclusive! - Free S$100 NTUC Fairprice OR Takashimaya Vouchers
- Get 20% cash back on UberEATS orders
- 8% cash back at food & beverage outlets, supermarkets, food & groceries delivery (including Foodpanda, Deliveroo, honestbee, RedMart) and Grab rides globally
- 20% cash back on UberEATS orders, capped at S$25/month
- Up to 20.88% at Esso and Shell, and 8% Cash Back at other petrol stations
- Total minimum retail spend of S$888/statement month, 8% cash back capped at S$25 per category (Dining, Grab rides, Groceries, Petrol). For retail spend less than S$888 and/or other retail spends, 0.25% cash back is awarded, no cap on 0.25% cash back earned
If you’re looking for the highest all-round cashback rates in Singapore, look no further that the Citi Cash Back Card. With 8% cashback rebates for all the major spending categories like dining and groceries, it’s a must-have for anyone who can meet the card’s minimum spending requirement of $888 a month.
The Citi Cash Back Card also gives you:
- Up to 20.88% savings at Esso and Shell, with 8% cash back for all other petrol stations
- 8% cash back on all Grab rides
- 20% cash back on UberEats (till 19 December ’17)
- 8% cash back on selected food delivery and online grocers, too!
It’s the perfect cashback credit card if you’re often busy in the office with no time even to head out for lunch. And if you find yourself travelling often, whether for work or play, you’ll be happy to know that these cashback rebates apply when you use the Citi Cash Back Card overseas as well.
Things to note: As we mentioned earlier, the Citi Cash Back Card requires you to spend a minimum of $888 each month to qualify for the extra bonus cash back. Though this should generally not be a problem for a high-flying executive, do note that if you don’t meet the spending requirement, you’ll only earn the base cash back of 0.25%. Do note that while there is no overall cap on how much you can earn, the bonus cash back is capped at $25 per category, per month.
Sign-up bonus: From now till 20th August 2017, you can get a $100 Qoo10 voucher if you apply for the Citi Cash Back Card exclusively through MoneySmart.
2. For the family breadwinner – the HSBC Advance Card
- Option 1: American Tourister Caravan 70cm TSA luggage (worth S$260) + Up to S$40 Cashback
- Option 2: Get $120 Cash Back + Up to S$40 Cashback
- 1.5% Cash Back on all purchases with no minimum spend / 2.5% Cash Back on all purchases with $2,000 minimum spend per month. Capped at $70 per month
- For HSBC Advance banking customers: 2.5% Cash Back on all purchases with no minimum spend / 3.5% Cash Back on all spend with S$2,000 minimum spend per month. Capped at S$125 per month
- 1st year principal card annual fee waiver for non-HSBC Advance banking customers / Perpetual principal card annual fee waiver for HSBC Advance banking customers
- Perpetual supplementary card annual fee waiver
Anyone raising a family knows that expenses can sometimes come from the most diverse places. You therefore want a credit card that can reward you for shopping for household necessities, buying new furnishings online, sending the children for courses or just taking family holidays. Consider the HSBC Advance Card, which gives you up to 3.5% cash back each month.
Not surprisingly, the HSBC Advance Card works best if you are a HSBC Advance banking customer. Not only do you enjoy the highest cash back, you also enjoy:
- Perpetual annual fee waiver on both primary and supplementary cards
- Attractive HSBC banking offers
- Up to 200 dining, lifestyle and travel offers for HSBC cardholders, including 16% petrol discount at Caltex and Shell
To be a HSBC Advance banking customer is easy – you just need to open a salary crediting or occurring deposit of $3,500 with HSBC. It’s that simple.
Things to note: There is a monthly cap on the cash back you can earn. For HSBC Advance banking customers, it’s $125. That means, you would need to spend more than $3,600 on this card in a month to exceed the cash back cap.
Sign-up bonus: From now till 31st October 2017, you can get an American Tourister Caravan 70cm TSA Luggage (worth $260) and up to $40 in cashback if you apply for the HSBC Advance Card exclusively through MoneySmart.
3. For the online shopper – the DBS Live Fresh Card
- Enjoy special discounts and General Admission, VIP, and Group tickets purchase priority for ZoukOut 2017
- Online Exclusive - Up to S$100 Cashback
- Get up to 10% cashback when you shop online/via mobile apps, pay using Visa payWave, Apple Pay, Android Pay, Samsung pay when you spend S$700 worth of retail purchases (online/in-store) in a calendar month.
It’s 2017, so it’s not surprising that some of us find that more and more of our monthly transactions happen online. Whether it be shopping at online marketplaces, making food delivery orders, taking Grab or Uber, or even buying mobile apps and games on iTunes or the Google Play Store, it’s easy to spend money online. So why not get rewarded for it too? With the DBS Live Fresh Card, you can now earn 5% cashback on all eligible online transactions.
What’s more, if you’re a new DBS Live Fresh Cardholder, you can earn an additional 5% cashback at several very popular online merchants. That’s an unbeatable 10% cashback for online transactions.
It doesn’t stop there. The DBS Live Fresh Card also gives you:
- 5% cashback on all Visa payWave transactions
- 3X DBS Rewards Points for online and Visa payWave transactions (that’s the equivalent of 1.2 air miles per $1 spent!)
Things to note: There is a minimum spend requirement of $700 a month. If you don’t meet that requirement, you will not earn any cashback for that month. You will still earn the Rewards Points though. Also, these cashback rates are a limited promotion which ends 30 September 2017. It remains to be seen if DBS will extend the benefits after that date.
Special Privieges: If you’re looking to buy tickets to the year-end ZoukOut 2017, the DBS Live Fresh Card offers special discounts and priorities off ZoukOut 2017 tickets. Just apply for the DBS Live Fresh Card and apply for the tickets online! Simple!
Some more things to note:
The smart cashback credit card user will mix and match the above cards according to their needs. Here are some more tips on how to maximise your cashback card benefits.
Of course, with all credit cards, your cashback rebates aren’t worth anything if you’re not making payment in full each month. So always make sure to spend within your means.
What is your favourite cashback credit card? How much have you saved in a month using that card?
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