Credit Cards

The Highest Cashback Rates You Can Get Using Singapore Credit Cards

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Joanne Poh

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Of all the different types of credit card perks, we have a soft spot for cashback. After all, in a land where there’s no such thing as a free lunch, the taste of free money is particularly sweet. But not all cashback is created equal, with some cards promising the highest cashback rates that are many times more generous than what others offer.

So which cashback credit card is the fairest in the land when it comes to cashback rates?

Credit card

Cashback

Things to note

UOB YOLO Credit Card

12% on Grab, dining and entertainment (for first 3 months of card membership)

8% on weekend Grab, dining and entertainment locally and overseas

3% on weekday Grab, dining and entertainment locally and overseas

3% on online fashion and travel

Min. spend $600

Cashback cap $60

Citi M1 Card

10% / 3% on recurring M1 Bills

1% discount on spending at M1 stores, 10% discount on device accessories at M1 shops

Applicable only to M1 bills charged to card on recurring basis

Min. spend $600 to qualify for 10% rebate

Min. spend $300 to qualify for $3% rebate

Cashback capped at first $300 worth of M1 recurring charges

Citi Cash Back Card

8% cashback on dining (including Deliveroo and Foodpanda delivery), Grab, groceries (including HonestBee and RedMart delivery) and petrol worldwide

Min. spend $888

Cashback capped at 25% in each category (dining, Grab, groceries, petrol)

Maybank Family and Friends Card

8% / 5% cashback on groceries (Cold Storage, NTUC FairPrice), transport (Grab, taxis, bus and train rides), petrol, fast food delivery (FoodPanda, KFC, McDonald’s Pizza Hut) and selected merchants (Unity, Guardian, Watson, Popular, Legoland Malaysia)

Min. spend $1,000 to qualify for 8% rebate

Min. spend $500 to qualify for 5% rebate

Cashback cap $600 per calendar year

UOB Delight Card

8% / 3% on groceries (Cold Storage, Market Place, Jasons, Guardian)

3% on contactless transactions (UOB Might Pay, Apple Pay, Visa payWave, NETS FlashPay Auto Top-up, public bus, Comfort/CitiCab/SMRT taxis, ERP, CEPAS car park charges) and selected recurring bills (Prudential Insurance, United Overseas Insurance, Town Councils, SPH newspapers)

10% discount on house brands at Cold Storage, Giant and Guardian

Min. spend $800 to get 8% rebate on groceries

Min. spend $400 to get 3% rebate on groceries and contactless payments

Cashback cap $50

OCBC Frank Card

6% on online purchases

5% on entertainment (bars, cinemas, KTVs, clubs, selected cafes) from Fri to Sunday

3% on entertainment from Mon to Thu

3% rebate on first two NETS FlashPay auto top-ups

Min. spend $400 (excluding online, NETS FlashPay top-ups, EZ-Link top-ups and Transit Link related transactions)

Cashback cap $60

OCBC 365 Credit Card

6% on local weekend dining

3% on local weekday dining and overseas dining worldwide

3% on online shopping and Grab rides

5% on petrol (up to 25% at Caltex)

3% at local supermarkets

3% on recurring telco bills (SingTel, StarHub, M1)

3% on over-the-counter medical spend (only for Child Development Account Trustees)

Min. spend $600

Cashback cap $80

DBS Live Fresh Card

5% cashback on online shopping, Grab rides and VisaPayWave purchases (Apple, Samsung and Google Pay)

Min. spending $600

Cashback cap before 1 Jun 2018 $60

Cashback cap from 1 Jun 2018 $20 on eligible online spending, $20 on eligible Visa PayWave spending and $20 on other spending

Citibank SMRT Card

5% on groceries (FairPrice, Giant, ShengSiong)

7.3% at FairPrice Xtra Kallang Wave

5% on fast food (BreadTalk, Burger King, KFC, McDonald’s, Pizza Hut, PastaMania, Sakae Sushi, Subway, Toast Boast), movies and coffee (Coffee Club, Dome Café, Gloria Jean’s, Starbucks, Coffee Bean, TCC)

3% on online shopping

2% on health and beauty

2% on EZ-Reload auto top-up

Min. spend $300, otherwise cashback will be 0.3% less

Grocery transactions must be $50 and above, otherwise cashback will be 2% less

Cashback cap $600 per year

HSBC Visa Platinum Credit Card

5% on recurring bills (mobile, cable TV and internet bills in Singapore)

5% / 3% on petrol (additional 16% at Caltex and Shell)

5% / 3% on groceries locally

2% / 1% on dining in Singapore (excludes hotel dining)

Min. spend $800/month for all 3 months in a quarter to qualify for 5% rebate on groceries, petrol and dining.

Min. spend $400/month for all 3 months in a quarter to qualify for 3% rebate on petrol, groceries and dining and 5% on recurring bills.

UOB One Card

$50 (up to 3.33%) / $100 (up to 3.33%)  / $300 (up to 5%) (quarterly flat payout)

Min. spend $500 / $1,000 / $2,000 x 3 months in a quarter

Cashback cap $50 / $100 / $300

POSB Everyday Card

6% at SPC (total of 20.1% savings)

5% at Sheng Siong

5% on overseas spend

3% at Watsons

3% on medical spend for existing POSB Smiley Child Development Account Trustees

1% on recurring utilities bills from SP Group

1% on recurring StarHub bills and in-store purchases

Cashback valid till 30 Jun 2018 unless otherwise stated.

Min. spend of $1,000 and must register through DBS Lifestyle App to qualify for 5% overseas spend cashback.

Cashback capped at $50 on overseas spend.

Cashback capped at $1,000 worth of spending at Sheng Siong and $100 worth of spending on StarHub and utilities bills.

HSBC Advance Credit Card

3.5% / 2.5% / 1.5%

Min. spend $2,000 and must be an HSBC Advance customer, otherwise cashback is only 2.5% (for HSBC Advance customers) or 1.5% (for non-HSBC Advance customers)

Cashback cap $125

Maybank Platinum Visa Card

$30 (up to 3.33%) / $100 (up to 3.33%) rebate on local spend (quarter flat payout)

Min. spend $300 every month in a quarter to receive $30 rebate

Min. spend $1,000 every month in a quarter to receive $100 rebate

Standard Chartered Spree Credit Card

3% on online spend in foreign currency and vPost spending

2% on online spend in local currency, contactless and mobile payments

1% on other retail spend

Cashback cap $60

American Express True Cashback Card

3% cashback on up to $5,000 spend in first 6 months of card membership

1.5% on everything else

Standard Chartered Unlimited Cashback Credit Card

3% on foreign currency spend for 1st 3 months of card membership

1.5% on everything else

Maybank FC Barcelona Visa Signature Card

1.6%

 

Highest cashback credit card rate for dining: UOB YOLO Credit Card

This card is currently offering a whopping 12% cashback on dining during your first three months of card membership. That’s reason enough to sign up for this card and then eat your brains out.

After the 3 months are over, you can still get a very good 8% rebate on weekend dining.

But if you also eat out a lot on weekdays, you might want to sign up for the Citi Cash Back Card, which gives you 8% on both weekend and weekday dining, as opposed to the UOB YOLO’s 3%.

The Citi Cash Back Card does have a minimum spending requirement of $888, which is higher than the UOB YOLO’s $600, but its other cashback categories are a bit different, so depending on your lifestyle you might not find it so hard to meet the higher spending requirements.

Monthly cashback cap: $60

UOB YOLO Credit Card

UOB YOLO Credit Card


Card Benefits

    • 16%* cash rebate on weekend Dining & Entertainment**; 3% cashback on weekday Dining & Entertainment
    • 3% cash rebate on Online Travel^ and fashion
    • Minimum spend: S$600. Cashback cap: S$60/month
    • 1 year principal card fee waiver; no annual fees for first supplementary card
    • Base rate: 0.3% cashback if minimum spend of S$600 is not met

     

    Highest cashback credit card rate for online shopping: OCBC Frank Card

    This card has been many a Singaporean’s go to credit card for online shopping for quite some time due to the very generous 6% cash rebates it offers on online purchases.

    The one drawback is the fact that the minimum spending requirement of $400 does NOT take into account online purchases.

    You can, however, spend on entertainment in order to meet the minimum spending requirements, while getting rewarded with 5% cashback on Fri to Sun and 3% cashback on Mon to Thu. So if you have an active social life, this card is for you.

    Monthly cashback cap: $60

    OCBC Frank Card

    OCBC Frank Card


    Card Benefits

      • 6% rebate on online shopping
      • 3% rebate on first 2 top-ups for NETS FlashPay ATU
      • 0.3% rebate on everything else
      • Up to 5% rebate for entertainment
      • Min. spend $400 (excluding Online and NETS FlashPay Auto Top-Up spend), capped at $60 for all rebates

       

      Highest cashback credit card rate for groceries: Citi Cash Back Card

      While other cashback credit cards often limit their cashback on groceries to certain supermarket brands, the Citi Cash Back Card offers its very generous 8% on groceries not just in Singapore but also overseas. The cashback is also offered on HonestBee and Redmart grocery deliveries.

      The two main drawbacks are the minimum spending requirement of $888 and the bonus cashback cap of $25 in each category (meaning you’ll earn 8% on the first $312.50 of grocery spending, and 0.25% on any amount above that).

      But the 8% cashback offer is also extended to petrol, Grab and dining, which helps you find opportunities to use the card.

      Monthly bonus cashback cap: $25 for groceries category

      Otherwise, the Maybank Family and Friends Card or UOB Delight Card are good alternatives. Both offer two tiers of grocery rebates with two different minimum spending requirements, so if you can only spend $500 a month, get the Maybank Family and Friends Card for 5% rebates. If you can only spend $400 a month, get the UOB Delight Card, you’ll still receive 3% rebates.

      Citi Cash Back Card

      Citi Cash Back Card


      Card Benefits

        • 8% cash back at food & beverage outlets, supermarkets, food & groceries delivery (including Deliveroo, honestbee, RedMart) and Grab rides globally (valid till 6 Apr 2018)
        • Up to 20.88% fuel savings at Esso and Shell, and 8% cash back at other petrol stations
        • Total minimum retail spend of S$888/statement month to get 8% cash back, capped at S$25 per category (Dining, Grab rides valid till 6 Apr 2018, Groceries, Petrol). For retail spend less than S$888 and/or other retail spend categories, 0.25% cash back is awarded, no cap

         

        Highest cashback credit card rate for petrol: Citi Cash Back Card

        Which petrol credit card is best for you really depends on which petrol station you frequent.

        But if you’re looking for a card that gives you a decent cashback rate on each and every petrol brand for those days when you’re about to be stranded by eh side of the road with an empty tank and need to get to the nearest petrol station, the Citi Cash Back Card is your pick, with its 8% cashback on petrol across all brands.

        Just make sure you satisfy the $888 minimum spending requirement by also spending in the other categories (groceries, dining, Grab) that give you 8% cash rebates.

        Monthly bonus cashback cap: $25 for petrol category

        Citi Cash Back Card

        Citi Cash Back Card


        Card Benefits

          • 8% cash back at food & beverage outlets, supermarkets, food & groceries delivery (including Deliveroo, honestbee, RedMart) and Grab rides globally (valid till 6 Apr 2018)
          • Up to 20.88% fuel savings at Esso and Shell, and 8% cash back at other petrol stations
          • Total minimum retail spend of S$888/statement month to get 8% cash back, capped at S$25 per category (Dining, Grab rides valid till 6 Apr 2018, Groceries, Petrol). For retail spend less than S$888 and/or other retail spend categories, 0.25% cash back is awarded, no cap

           

          Highest cashback credit card rate for overseas spending: POSB Everyday Card

          Going on a big overseas holiday? The POSB Everyday Card is offering 5% rebates on all overseas spending, provided you spend at least $1,000 in a month. But note that the offer requires you to register via the DBS Lifestyle app, is only good until 30 Jun 2018 and POSB hasn’t yet revealed if it will be extended.

          Monthly promo cashback cap: $50

          However, if your holiday spending will mostly be on dining/entertainment rather than shopping or sightseeing, you’d do just as well with the UOB YOLO Card, which gives you 12% on overseas dining and entertainment in the first three months, and the Citi Cash Back Card, which rewards you with 8% on dining and groceries overseas.

          POSB Everyday Card

          POSB Everyday Card


          Card Benefits

            • Up to 20.1% cash rebate at SPC
            • 5% cash rebate at Sheng Siong. S$50 cash rebate cap per calendar month.
            • 3% cash rebate at Watsons, and local medical spend (dental, clinic, hospital)
            • 1% cash rebate on recurring utilities bills from SP Group and recurring StarHub mobile/digital cable/broadband bills and ins-tore purchases
            • Get 0.3% on everything else
            • No minimum spend required

             

            Best cashback credit card rate for entertainment: UOB YOLO Credit Card

            The card’s 12% cashback offer in the first three months of card membership extends also to entertainment (including bars, clubs, cinemas and KTVs) both in Singapore and overseas.

            Just make sure you satisfy the minimum spending requirements of $600 a month. That shouldn’t be too hard if you make it a habit to foot the bill for your friends and get them to pay in cash… unless they too are sneakily trying to pay with their credit cards.

            After the first three months, you’ll continue to receive 8% rebates on weekends, but only 3% on weekdays.

            Monthly cashback cap: $60

            UOB YOLO Credit Card

            UOB YOLO Credit Card


            Card Benefits

              • 16%* cash rebate on weekend Dining & Entertainment**; 3% cashback on weekday Dining & Entertainment
              • 3% cash rebate on Online Travel^ and fashion
              • Minimum spend: S$600. Cashback cap: S$60/month
              • 1 year principal card fee waiver; no annual fees for first supplementary card
              • Base rate: 0.3% cashback if minimum spend of S$600 is not met

              At this point, you might want to switch to the OCBC Frank Card, which offers 5% not just on weekends but on Fridays as well, and a comparable 3% on Mondays to Thursdays, which makes it perfect for your Friday night binge.

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

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              Joanne Poh

              In my previous life, I was a property lawyer who spent most of my time struggling to get out of bed or stuck in peak hour traffic. These days, as a freelance commercial writer, I work in bed, on the beach, in parks and at cafes, all while being really frugal. I like helping other people save money so they can stop living lives they don't like.