The 6 Most Popular Cashback Credit Cards of 2017 in Singapore

cashback credit cards card singapore

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

UOB logo
MoneySmart Exclusive
Cash Back on Grab and Daily Essentials
Up to 10%
Cash Back Cap per quarter
S$300
Min. Spend per month
S$2000
MoneySmart Exclusive: Get up to S$60 Grab Vouchers! Valid till 31 Jul 2020.

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

HSBC logo
Cash Back on All Spend
Up to 3.5%
Cash Back Cap per month
S$125
Min. Spend per month
S$0

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

Citibank logo
Cash Back on Dining, Groceries & Petrol
8%
Cash Back Cap per category, per month
S$25
Min. Spend per month
S$888
Promotion: Get S$200 Cash via PayNow when you apply and spend! Applicable to new-to-bank cardholders only. Valid till 14 Jul 2020.

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

American Express logo
Cash Back on All Spend
1.5%
Cash Back Cap
Unlimited
Min. Spend per month
S$0

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

Standard Chartered logo
MoneySmart Exclusive
Cash Back on eligible spend
Up to 1.5%
Min. Spend per month
$0
Cash Back Cap
Unlimited
MoneySmart Exclusive: Get a pair of Sony wireless noise cancelling headphones WF-1000XM3 worth $349 delivered to your doorstep when you apply and activate your card! For new-to-bank cardholders only. Valid till 31 Jul 2020.

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

OCBC logo
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!