Online shopping is often like dating. Your first time is naturally filled with some anxiety, but it usually gives you enough motivation to try again. You get good at it, you start to enjoy it, you stop taking precautions and soon a hacker is posting nude photos of you online.
But the fact still remains that some of the best deals and the widest selection are found exclusively online. So here are the best credit cards that will help you maximise your money in online shopping.
1. 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
- $5 = 1 DBS Point
- Earn 3X Rewards (3 DBS Points per S$5 spent) when shopping online and Visa payWave transactions
The DBS Live Fresh Card has endured the competition to become the credit card of choice for online shopping. By offering 5% cashback on all online spend, it has become one of the highest online rebate rates in the market today.
What’s more, you also enjoy 5% cashback on all Visa payWave transactions. And this cashback is on top of the 3X DBS Points that you would have normally earned for these transactions.
So, what’s the catch?
While the cashback cap is a pretty generous $70, the real restriction of the card is minimum spending requirement of $700. The DBS Live Fresh Card does not really reward you for any other type of spending, so depending on your lifestyle, this $700 minimum spending requirement might be out of your reach.
That said, with many more merchants accepting Visa payWave these days, you should have less of a problem meeting that minimum spending requirement.
The other catch is that this 5% cashback for the DBS Live Fresh Visa Card is a limited promotion that ends 30 November 2017. It may be extended, or it may come back again in the near future, but do keep the limited time period in mind.
Interested in the DBS Live Fresh Card? Apply here.
2. Standard Chartered Spree Credit Card
- Online Sign-up Exclusive - S$138 Cashback
- 20% Cashback on Uber Rides globally
- Get 10% cashback on foreign currency spend
- Win up to S$10,000 cashback
- 3% cashback on all online spends in foreign currency
- 2% cashback on all online spends in local currency, contactless and mobile payments
- 20% off vPost shipping fees for air shipments to Singapore, capped at $1250 per shipment
- Online Price Guarantee: refund of 50% of the price difference if you find a lower price for the same item within 30 days of your online purchase*
Formerly known as the Standard Chartered SingPost Platinum Visa Card, the Standard Chartered Spree Credit Card is still one of the best for online spending. It gives you 3% for all online spending in foreign currency and vPost costs and 2% for all online spending in local currency.
Most importantly, it doesn’t have a minimum spending requirement. That means you can enjoy 3% rebates whether you spend $50 or $500 online that month. Oh, and there’s a 2-year annual fee waiver too!
In addition to being a great online shopping credit card, the Spree Credit Card also earns you 2% rebates for all contactless and mobile payments, and 1% rebates on all other retail spending.
So, what’s the catch?
The cashback cap is $60, which means you can earn 3% rebates on up to $2,000 online spend in foreign currency. However, if you’re spending that much, you should consider the DBS Live Fresh Card for the higher rebates.
The Standard Chartered Spree Credit Card is therefore ideal for those who tend to spend less than $700 online a month. Which, honestly, should be the majority of online shoppers.
That being said, you can still benefit even if you’re not spending crazy amounts of money on your card. Standard Chartered is now offering you a chance to win up to $10,000 in cashback when you play their Shop, Shake, Win Game. Sounds fancy but all you really need to do is:
- Register on their website upon card approval.
- Spend at least $150 in one single transaction
- If you are within the first 160,000 eligible transactions, you will receive an SMS letting you know that you are eligible for the draw.
- Pray hard
Interested in the Standard Chartered Spree Credit Card? Apply here.
3. HSBC Revolution Credit 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
- 5X Rewards points on Online, Dining and Entertainment transactions
- Includes airline/movie/concert tickets, hotel/travel/taxi bookings, food orders, insurance premiums, and online shopping sites
- Excludes brokerages/securities and money payment/transfer websites
If you’re not a fan of cashback rebates, the HSBC Revolution Credit Card is the choice for you. You can earn 5X Rewards Points on your online spending when you charge it to the HSBC Revolution Credit Card. That’s the equivalent of 2 air miles per $1 spent. Not bad at all.
You also get 5X Rewards Points when you spend on Dining and Entertainment, making this a pretty useful card for young people. Best of all, there is no minimum spending requirement and no limit to the number of Points you can earn as well! Oh, and did I mention the 2-year annual fee waiver?
So, what’s the catch?
There’s not much negatives to say about the HSBC Revolution Credit Card, except that not everyone may appreciate earning Rewards Points and converting them to air miles.
The HSBC Revolution Credit Card might also not be for credit card users chasing the latest credit card promotions. It is constantly and consistently among the list of best credit cards in Singapore, but never the best. While most credit card users in Singapore appreciate this, the more kiasu ones will not.
Interested in the HSBC Revolution Card? Apply here.
Let’s be honest here, the real value from a credit card comes from the cashback rebates and rewards you can earn no matter where you do your online shopping. Credit cards are like astute bartenders who keep passing you drinks while encouraging you to talk about your relationship problems. If they want you to keep spending, so they’ll need to give you a reason to.
Which is why it’s a pity the following credit cards just didn’t give us enough reason to put them among the top 3.
OCBC Frank Card
- 6% rebate on online shopping
- 0.3% rebate on everything else
- Min. spend $400 exclude online spend and ATUs, capped at $60 for all rebates
The OCBC Frank Card used to be the best card for online shopping with 6% cashback on every online transaction. However, they’ve since made some changes to the terms and conditions which have made it less popular.
The maximum 6% cashback you’re allowed to earn is $60 per month, but now you have to spend at least $400 on non-online transactions. Sure you can now get up to 5% cashback for spending with the OCBC Frank Card at cafes, cinemas, bars and other entertainment, but if you don’t meet the minimum spend requirement, you won’t earn the 6% cashback.
Citibank Rewards Card
- Get S$120 Cashback
- MoneySmart Exclusive! - Free S$100 NTUC Fairprice OR Takashimaya Vouchers
- 20X Rewards (20 points or 8 Miles) for every S$1 spent on Zalora.
- 10X Rewards (10 points or 4 Miles) for every S$1 spent on Shoes + Bags + Clothes at Online, Retail or Department stores, locally and overseas
- 4200 Points (1400 Miles) = S$10 voucher. Redeemable at Nike, Levi’s, Pull&Bear, and many more
- S$1 spent = 1 Rewards point (All other spend)
The Citibank Rewards Card earns you 10X Citi Dollars for every $1 spent online. That’s 4 air miles per $1 spent. That’s great!
However, this 10X bonus excludes spending on travel, airlines, government payments, cinema tickets and insurance. In fact, it only applies to online shopping merchants whose main business activity is shoes, bags and clothes. That’s not so great. This limitation is what keeps the Citibank Rewards Card from making the top 3.
However, if your online spending comes from shops like Nike, Levi’s, Pull&Bear and so on, then the Citibank Rewards Card is the card for you.
What is your favourite card for online shopping? Let us know!
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