This post was written in collaboration with UOB. While we are financially compensated by them, we nonetheless strive to maintain our editorial integrity and review products with the same objective lens. We are committed to providing the best recommendations and advice in order for you to make personal financial decisions with confidence. You can view our Editorial Guidelines here.
Earlier in May, UOB got onboard the unlimited cashback train with what’s currently the highest flat rate cashback card offering.
The new UOB Absolute Cashback American Express® Card gives you 1.7% limitless cashback on everything, with no minimum spend and absolutely no spend exclusions.
In our already complicated lives with tons to keep track of, the beauty of a flat rate cashback card lies in its simple, straightforward and transparent structure. There are no complicated spend tiers or caps to take note of.
The highest flat rate cashback card in the market right now
As of 11 June 2021, the UOB Absolute Cashback Card is currently the highest flat rate cashback card. Here’s how it stands against other popular contenders with no minimum spend and an unlimited cashback cap:
- Cash Back on Eligible Spend
- 1.7%
- Min. Spend per month
- S$0
- Cash Back Cap
- Unlimited
| Card | Cashback rate | Notes |
| UOB Absolute Cashback Card | 1.7% | On all spend, no spend exclusions |
| American Express True Cashback Card | 1.5% | On all spend |
| Citi Cash Back+ Mastercard | 1.6% | On eligible spend, spend exclusions apply |
| Standard Chartered Unlimited Cashback Credit Card | 1.5% | On eligible spend, spend exclusions apply |
Granted, 0.1% of $1,000 is just $1, but those who regularly make big purchases could rack up additional cashback of perhaps $100 (or more) each year with that additional 0.1% or 0.2%.
How can the UOB Absolute Cashback Card benefit you?
Cashback credit card users are likely to fall into either of 2 camps: Those who prefer cards that offer cashback for specific categories (aka MCCs), or those who go for flat-rate cashback cards like the UOB Absolute Cashback Card.
Previously a fan of the former where cashback can go up to 10% for certain categories, I’m beginning to see the merits of the latter, which offers a seemingly “low” cashback rate. Why?
Well, flat rate cashback cards like the UOB Absolute Cashback Card have no minimum spend. This means you don’t need to keep checking that your card spend hits X amount or else your cashback efforts will go down the drain for that month.
It also has no spend exclusions, so your 1.7% limitless cashback can be used on everything including categories such as insurance premiums, school fees, utility bills, rental, medical fees, hospital bills and so on. Start racking up your cashback on everyday expenses including fuel top-ups at any local petrol station, bill payments to major telcos like M1, Starhub and Singtel, as well as groceries from your favorite supermarkets such as Giant, Cold Storage, NTUC FairPrice and Sheng Siong. From online shopping sprees at Lazada, Shopee, Qoo10 and Taobao to food delivery via GrabFood, Deliveroo or foodpanda, and even media subscription services like Disney+, iTunes, Spotify and Netflix. Whatever your lifestyle preference, the UOB Absolute Cashback Card helps make every dollar count on all your purchases.
Oh, and this card has no cashback cap either. This can add up to a LOT of cashback, maybe even more than a “higher cashback” card which only allows cashback on eligible spending for certain categories like food and retail, and typically comes with a cap to the amount of cashback that you can earn.
The cashback earned on the UOB Absolute Cashback Card is also, for a lack of a better word, absolutely fuss-free. No need to call any number or remember to send an SMS message to redeem your cashback, no need to redeem your cashback in “blocks” — cashback earned via the UOB Absolute Cashback Card is automatically credited into your next statement and is used to offset your bill.
Sign up for the UOB Absolute Cashback Card now to enjoy attractive offers
If you’re all set to start earning 1.7% limitless cashback with no minimum spend on anything and everything*, the UOB Absolute Cashback Card has an attractive offer going on now.
For new-to-UOB Credit Cardholders:
|
- Cash Back on Eligible Spend
- 1.7%
- Min. Spend per month
- S$0
- Cash Back Cap
- Unlimited
This upsized 5% cashback on your first S$3,000 spend is pretty easy to hit. Here are some ideas on how to achieve this:
- Level up your Work-From-Home workspace to improve your productivity and put these big-ticket purchases on your Card. This can be a standing desk, ergonomic chair or even a wide-screen monitor from OmniDesk, Secretlab or Harvey Norman.
- Learn new skills from the comfort of your home through online learning platforms like edX, FutureLearn and Coursera and pay online with your Card.
- Planning a home makeover? Take your pick from the extensive collection of home appliances and furnishings at Courts, FortyTwo, IKEA or HipVan and simply charge it to your card.
To qualify for the UOB Absolute Cashback Card, you’ll need to have an annual income of just S$30,000. The card has an annual fee of S$192.60, which is waivable for the first year, and the first supplementary card (so you can pass it to your loved one to earn cashback together!) is free for life.
Find out more about the UOB Absolute Cashback Card and sign up here.
*”No spend exclusions” does not include NETS transactions made with the UOB Absolute Cashback Card. Terms and conditions apply.
American Express is a trademark of American Express. The UOB Absolute Cashback American Express® Card is issued by United Overseas Bank Limited pursuant to a license from American Express.