Of all the different types of credit cards, I have to admit I have a soft spot for cashback credit cards. There’s something so satisfying about getting money for doing absolutely nothing more than, uh, spending money.
So which are the best all-purpose cashback credit cards to use? Here are our top picks (in no particular order):
UOB One Card
- Rebate on Shopee, Dairy Farm Group, Grab, SP and more
- Up to 10%
- Rebate Cap per quarter
- S$300
- Min. Spend per month
- S$2,000
This card offers some of the most generous cashback rates on everything you spend on—a maximum of 5%.
But there is a catch—the minimum spending requirements are not just high, but have to be met every month in a quarter for you to qualify for these insane cashback rates.
If you can spend $2,000 consistently, every month in a quarter, you will qualify for the maximum cashback tier of up to 5%. If you can spend at least $500 (entitling you to a max of $50 rebates a month) or $1,000 (entitling you to a max of $100 rebates a month) a month for a quarter, you can get a maximum of 3.33% cash rebate. Oh yeah, you also have to make at least 5 transactions every month in a quarter.
Features at a glance:
- Max of 5% rebate if you spend $2,000 + make at least 5 transactions every month in a quarter
- Max of 3.33% rebate if you spend at least $1,000 + make at least 5 transactions every month in a quarter, up to a maximum of $1,000 a month.
- Max of 3.33% rebate if you spend a least $500 + make at least 5 transactions every month in a quarter, up to a maximum of $50 a month.
Get this card if: You are a big and consistent spender.
HSBC Advance Credit Card
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- Base Cashback
- 1.5%
- Cashback when you spend more than S$2,000
- 2.5%
- Bonus Cashback with HSBC Everyday+
- 1%
This card offers a great 3.5% cashback on everything… IF you are an HSBC Advance account holder and spend above $2,000 a month. If you spend less than that, you still get a decent 2.5%.
How do you become an HSBC Advance account holder? There are a few ways, the main ones being making a deposit of $30,000, having an HSBC home loan, crediting a monthly salary of at least $3,500 to the account or depositing at least $2,500 a month.
So what happens if you’re not an HSBC Advance member? You get 2.5% cashback if you spend above $2,000 a month, and 1.5% if you spend less than that.
Features at a glance:
- 3.5% cashback for HSBC Advance account holders who spend above $2,000 in a month.
- 2.5% cashback for non-HSBC Advance account holders who spend $2,000 and below in a month.
- 2.5% cashback for non-HSBC Advance account holders who spend above $2,000 in a month.
- 1.5% cashback for non-HSBC account holders who spend $2,000 and below in a month.
Get this card if: You are an HSBC Advance account holder, or willing to become one. It’s actually relatively simple to do so.
Citi Cash Back Card
- Cash Back on Dining, Groceries & Petrol
- Up to 8%
- Total Cash Back Cap, per month
- S$80
- From Shell & Esso
- Up to 20.88% savings
Apply and Spend $500 to get a Google Pixel 6A Smartphone (worth $749) OR Nintendo Switch OLED (worth S$549) OR eCapitaVouchers (worth S$380) OR S$300 Cash via PayNow. T&Cs apply.
Technically speaking, this card doesn’t exactly reward you with cashback on every single thing you could possibly spend on. But it offers cashback on a wide-enough basket of categories to be used as an all-purpose cashback credit card.
You get a whopping 8% cashback on dining, groceries, food and grocery delivery, Grab rides and petrol. That means most of your daily necessities (food and transportation) are covered.
The monthly minimum spending requirement is $888, but that’s not the biggest drawback, which is that cashback is capped at $25 per category, the categories being dining, Grab rides, groceries and petrol.
Features at a glance:
- 8% cashback on dining, groceries, Grab rides and petrol, capped at $25 cashback per category.
- Minimum spending requirement of $888 a month.
Get this card if: You can meet the minimum spending requirement and spend often in at least two or three of the spending categories.
American Express True Cashback Card
- Welcome Bonus (min. spend of $5,000 on eligible purchases in 6 months)
- 3.0% Cashback
- Cash Back
- 1.5%
- Cash Back Cap
- Unlimited
This cashback credit card is the most uncomplicated on this list. You get 1.5% cashback on everything, with no minimum spending requirement and no monthly cashback cap.
What’s more, in the first 6 months of card membership, you enjoy 3% cashback on up to $5,000 worth of spending, so sign up for the card just before you’re about to make a large purchase.
Features at a glance:
- 3% cashback on everything in the first 6 months on up to $5,000 worth of spending.
- 1.5% cashback on everything else, with no cap and no minimum spending requirement.
Get this card if: You don’t want to have to meet any minimum spending requirements.
Standard Chartered Unlimited Cashback Credit Card
This card gives the Amex True Cashback Card a run for the money. The card’s base cashback rate of 1.5% is the same, and it doesn’t impose a minimum spending requirement either.
Until 31 Oct 2017, you also get 3% unlimited cashback on all foreign currency transactions and overseas spending.
Features at a glance:
- 1.5 cashback on everything.
- 3% unlimited cashback on overseas spending till 31 Oct 2017.
- No minimum spending requirement and no cashback cap.
Get this card if: You don’t want to have to meet any minimum spending requirements.
OCBC 365 Credit Card
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- Cashback on Everyday Dining
- 6%
- Cashback Cap per month
- S$80
- Min. Spend per month
- S$800
This is another card that doesn’t exactly give you cashback on everything under the sun, but on enough to make it your go-to cashback credit card.
You get 6% on weekend dining, and 3% on weekday or overseas dining, online shopping, grocery and recurring telco bills. This is one of the few cards that gives generous cashback on telco bills. There’s a monthly cashback cap of $80.
Of course, there is a minimum spending requirement. At $600, it’s not terribly high, especially for those who eat out or shop online a lot. If you’re having trouble hitting the minimum spending sum, offer to pay for a few group dinners and have your friends pay you back in cash.
Features at a glance:
- 6% cashback on weekend dining
- 3% cashback on weekday dining, overseas dining, online shopping, grocery bills and recurring telco bills.
- Minimum spending requirement of $600 a month
Get this card if: You eat out and shop online a lot.
What’s your favourite cashback credit card? Share your recommendations in the comments!