Best Unlimited Cashback Credit Cards in Singapore (2020)

unlimited cashback credit card

Many cashback credit cards are like those fast food ads featuring massive burgers oozing with juice. You buy one, only to discover that the real product looked more like a deflated balloon. They can promise a super generous 15% cashback, until you read the fine print and discover that it’s capped at $10 a month. Pfft.

If you’ve got a huge expense coming up, like a wedding dinner or a new car, that cashback cap is going to cramp your style like an overprotective mother at the playground.

Unless you manage to find a credit card that gives you unlimited cashback, meaning you can spend as much as you like knowing you’ll be rewarded for every cent.

Here are the unlimited cashback cards we’ve found with no minimum spend requirement and no caps.

 

Best unlimited cashback credit cards in Singapore (2020)

Unlimited cashback credit card Cashback Annual fee
American Express True Cashback Card 3% in 1st 3 months of card membership on up to $5,000 worth of expenditure
1.5% thereafter
$171 (waived for 1 year)
Standard Chartered Unlimited Cashback Credit Card 3% on foreign currency spending in first 3 months
1.5% thereafter
$193 (waived for 2 years)
Maybank FC Barcelona Visa Signature Card 1.6%  $120 (waived for 2 years)
ICBC Global Travel MasterCard 1.5% on local spending and 3% on foreign currency spending $150 (waived for 3 years)
ICBC Zodiac Credit Card 1.6% cashback on local and overseas spend $150 (waived for 3 years)

 

American Express True Cashback Card

American Express True Cashback Card is the card to sign up for when you’re about the spend a bomb. This credit card offers you 3% cashback on almost anything you could possibly spend on in the first three months of card membership, then you will earn the usual rate of 1.5%. There’s no cap as to how much 1.5% cashback you can amass, however.

So it’s well worth it to bide your time, and then sign up just before you’re about to incur a big expense, like a wedding.

So let’s say you’re about to pay $50,000 for a lavish wedding banquet with the Amex True Cashback Card. You will receive 3% cashback on the first $5,000 (equivalent to $150 cashback), and 1.5% cashback on the remaining $45,000 (equivalent to $675 cashback).

Your total cashback for spending $50,000 will thus be $825. Not a small amount!

American Express logo
MoneySmart Exclusive
Unlimited Cashback
Cash Back on All Spend
1.5%
Cash Back Cap
Unlimited
Min. Spend per month
S$0
MoneySmart Exclusive: Get $120 cash via PayNow when you apply and spend on your card! Valid till 18 Oct 2020.

 

Standard Chartered Unlimited Cashback Credit Card

Stanchart’s Unlimited Cashback Credit Card gives you 1.5% on all spend. Period. There’s also a 2-year annual fee waiver.

With this card, you’re also entitled to promotions under StanChart’s The Good Life programme, which includes 8% off Agoda accommodations and fringe benefits such as 50% off dining at The Fullerton Hotel and its dining establishments.

Drivers enjoy up to 22.61% fuel savings with Caltex.

Get $120 cash and $80 cash rebate when you apply for SCB Unlimited Cashback Card via MoneySmart before 29 Feb 2020.

Standard Chartered logo
Bank Promo
Unlimited Cashback
Cash Back on eligible spend
Up to 1.5%
Min. Spend per month
S$0
Cash Back Cap
Unlimited
Bank Promo: Get S$80 Cashback from Standard Chartered when you activate your card! Valid till 21 Sep 2020.

 

Maybank FC Barcelona Visa Signature Card

The AMEX True Cashback Card is a great card to use in the first 3 months of card membership. After 3-month honeymoon period is over with AMEX, there is one card you’ll want to switch over to when you have big expenses: the very randomly-named Maybank FC Barcelona Visa Signature Card.

The cashback rate of 1.6% this card gets you is slightly more attractive than the other two cards’ regular rate of 1.5%. And it’s valid forever… or until Maybank decides to amend the terms and conditions.

So after your wedding and honeymoon, you decide to buy a brand new car costing $100,000. You need to make a downpayment of at least $30,000 before taking out a loan on the remaining amount. Most dealers will allow you to make your downpayment by credit card.

You already signed up for the Amex True Cashback Card more than 3 months ago, when you were about to pay for that big wedding banquet.

So this time, you use the Maybank FC Barcelona Visa Signature Card, which gets you 1.6% cashback on your $30,000 downpayment, thereby earning you $480.

Maybank logo
Online Promo
Cash Rebate on All Local Spend
1.6%
on Spend in Foreign Currency
S$1 = 2X Points
Min. Spend per month
S$0
Online Promo: Get S$100 Cash Credit with Maybank Credit Cards and CreditAble! Valid till 31 Dec 2020.

 

ICBC Global Travel Mastercard

The ICBC Global Travel Mastercard is great for frequent travellers. You enjoy unlimited 1.5% cashback on SGD transactions and 3% cashback on transactions made in a foreign currency.

Additionally, you can get complimentary access to DragonPass lounges. It’s especially great if you regularly travel for work to China and Hong Kong, but it’s not limited to those regions. DragonPass lounges, which number at over 1000+ worldwide, also include certain Plaza Premium lounges, SATS Premier Lounges and railway stations.

From now until 31 December 2020, each ICBC Global Travel MasterCard credit cardholder gets 6 DragonPass points, which be used for VIP lounges at airports (1 point per visit) or VIP lounges at high-speed railway stations (0.5 points per visit).

You can also use the ICBC Global Travel Mastercard as an EZ-link card by creating an account with transitlink.com.sg and adding it as a contactless payment.

Do note that certain transactions such as AXS payments, insurance premiums, EZ-link card top-ups do not qualify for cashback.

 

ICBC Zodiac Card

The ICBC Zodiac Card tries the personalisation game. You can choose from 12 Zodiac animal designs, which showcase their corresponding oracle bone inscriptions… Hm, does this matter to you?

No? Yeah. Thought so.

But this probably does: ICBC Zodiac card gives good cashback on local spend at 1.6%.

So if you foresee that you will be make a number of large purchases that will bust the cashback caps of your regular cashback credit cards, such as when you’re furnishing your new BTO, you may want to get the ICBC Zodiac Card to buy electronics and furniture that add up to a significant sum.

Like the ICBC Global Travel MasterCard, you can use this as an EZ-link card, but unfortunately you won’t be able to earn cashback on the top-ups. Users need to create account at translink.sg to link the credit card.

What is your favourite unlimited cashback credit card? Share your reviews in the comments!