Is Shopee’s Mari Credit Card Singapore’s Best Unlimited Cashback Card?—MoneySmart Review (2024)

mari credit card moneysmart review 2024

Who knew that Singapore’s highest-earning unlimited cashback card would come from…Shopee? 

The Mari Credit Card is named after MariBank, Shopee’s digital bank. With this card, you can earn 5% unlimited Shopee Coins on your Shopee spending. Considering that Shopee is the biggest e-commerce platform in Singapore and people order anything from groceries to home furniture on it, those rebates could really add up.

But that’s not all. The Mari Credit Card will also earn you an unlimited 1.7% cashback on your other card spending, which Shopee claims is the highest unlimited cashback rate in Singapore. They’re not lying—the 1.7% puts them in first place, albeit tied with the UOB Absolute Cashback Card.

5% unlimited Shopee coins, 1.7% unlimited cashback, and no annual fee. Is the Mari Credit Card too good to be true? Let’s take a look.

Mari Credit Card—Is it MoneySmart?

mari credit card moneysmart review
Overall
: ★★★☆☆ (2.7/5)
Best for: As you can guess, Shopee-holics and MariBank users. This is not a bad credit card, but it is a niche one.
The catch: You must have a MariBank account, the 5% Shopee Coins rebate is only from now to 30 Sep 2024, and you might be able to get a better Shopee Coins earn rate on cashback-labelled Shopee products from in-app vouchers.
Pros—What we like Cons—What we don’t like
– 5% Shopee Coins on Shopee spend (from now to 30 Sep 2024)
– 1.7% cashback on card spend
– No minimum spend
– No cap on cashback or Shopee Coins earned
– No annual fee
– You must have a Mari Credit Account and link it to your Shopee account to earn your 5% Shopee Coins.
– Without the Mari Credit Card, Shopee vouchers can earn you up to 15% Shopee Coins anyway.
– The 5% Shopee Coins and 1.7% cashback do not stack; you can earn one or the other, but not both on the same purchase.
– High foreign currency fee of 3.77%. Do not use this card overseas!
Mari Credit Card at a glance
Category Our rating The deets
Earn rates: Cashback ★★☆☆☆ –5% Shopee Coins on Shopee spend (from now to 30 Sep 2024)
– 1.7% cashback on card spend
– No minimum spend
– No cashback or Shopee Coins cap
– Usual exceptions apply, e.g. Annual fees, instalments, bills, payments to educational, governmental, and financial institutions, insurance premiums, and more.
Earn categories ★★★★★
Annual fees and charges ★★★★★ No annual fee
Accessibility ★★★★☆ Minimum income requirement: $30,000 (Singaporeans and PRs)
Minimum age: 21 years and above
Extras/periphery rewards ☆☆☆☆☆ Unlike credit cards from banks that offer things like dining privileges and complimentary travel insurance, this card just does its one job of earning you cashback or Shopee Coins.
Sign-up bonus ☆☆☆☆☆ No welcome bonus. If anything, the opening promotion is the 5% Shopee Coins rebate ongoing till 30 Sep 2024.

See our credit card ranking rubric to find out how we rank credit cards.

 

Mari Credit Card—MoneySmart Review (2024)

  1. Mari Credit Card: Cashback earn rates and categories
  2. Mari Credit Card: Do the cashback and Shopee Coins earnings stack?
  3. Mari Credit Card: Is the 5% Shopee Coins rebate good?
  4. Mari Credit Card fees and charges
  5. Should I get the Mari Credit Card?
  6. How do I apply for the Mari Credit Card?
  7. Alternatives to the Mari Credit Card

 

1. Mari Credit Card: Cashback earn rates and categories

There are 2 ways you can earn with the Mari Credit Card:

  • Shopee Coins credited to your Shopee account (from now to 30 Sep 2024)
  • Cashback credited to your card account

How do I earn 5% Shopee Coins with the Mari Credit Card?

From now to 30 Sep 2024, pay for your Shopee purchases using Mari Credit Card Instant Checkout to earn an unlimited 5% Shopee Coins rebate. The Shopee Coins will appear in your Shopee account on your Shopee app.

To pay using Mari Credit Card Instant Checkout, you must:

  1. Have a Mari Credit Account
  2. Link your Mari Credit Account with your Shopee account via the MariBank App
  3. Keep these 2 accounts linked until you get your Shopee Coins reward

To earn Shopee Coins via this method, you must select “Pay In Full” as the payment option on Shopee. These payment methods will not earn you the 5% Shopee Coins:

  • Instalments
  • Credit Card/Debit Card option (when you manually input your Mari Credit Card details)
  • Google Pay
  • Apple Pay

If you pay using any of the last 3 options, Shopee will classify your purchase as a card transaction instead, for which you’ll earn 1.7% cashback.

Read more about the terms and conditions for the Mari Credit Card Shopee Coins Promotion.

 

How do I earn 1.7% cashback with the Mari Credit Card?

If you aren’t paying by Mari Credit Card Instant Checkout on the Shopee app, you’ll earn 1.7% unlimited cashback on eligible card spending. This cashback will be credited to your card account and be used to offset your next Mari Credit Card statement.

As always, exclusions like utilities, medical bills, education, and taxes do not earn you the 1.7% cashback. Read more about the terms and conditions for the Mari Credit Card’s cashback.

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2. Mari Credit Card: Do the cashback and Shopee Coins earnings stack? 

If only they did! But no:

  • If you use Mari Credit Card Instant Checkout, you’ll earn 5% Shopee Coins.
  • If you don’t use Mari Credit Card Instant Checkout,, you’ll earn 1.7% cashback.

Unfortunately, these are mutually exclusive and don’t stack. At least both are unlimited.

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3. Mari Credit Card: Is the 5% Shopee Coins rebate good?

TLDR: 

  • Yes, if you’re buying something that doesn’t have that dark blue cashback label on Shopee OR if you’re making a big purchase that would bust the cashback caps on in-app Shopee vouchers.
  • No, if you’re buying something that does have the cashback label and is eligible for a better in-app voucher—some offer up to 80% cashback!

Let’s first talk about the scenarios where the 5% Shopee Coins rebate is useful.

Shopee’s in-app cashback vouchers only apply to items with Shopee’s dark blue cashback label, like the product listing on the left:

comparison of a product on shopee with and without the cashback label
Image: Shopee

Without the cashback label, Shopee cashback vouchers will not earn you any Shopee Coins from your purchase of that item.

According to the Mari Credit Card Shopee Coins Promotion’s terms and conditions, aside from digital products, you can earn 5% Shopee Coins on all purchases so long as you use Mari Credit Card Instant Checkout:

So if there’s no dark blue cashback label, you can’t use an in-app voucher, and using the Mari Credit Card is a good idea for regular Shopee users.

But what if there is a dark blue cashback label? Then you can probably find a higher Shopee Coins cashback rate in your Shopee app by navigating to “Daily Vouchers” under the first tab, “Daily Discover”. I just checked mine, and it turns out you can earn up to 80% Shopee Coins via Shopee Live!

a screenshot of the vouchers page showing cashback vouchers for shopee coins on the shopee app
Image: Shopee

If you have any Shopee voucher that’ll earn you more than 5% Shopee Coins, use that instead. These vouchers tend to ask you to pay using ShopeePay, so you can forget about using Mari Credit Card Instant Checkout to earn that 5% rebate in Shopee Coins.

Wondering if in-app vouchers and the Mari Credit Card’s 5% Shopee Coins rebate can stack? The answer is no. According to clause 2.7 in the Mari Credit Card Shopee Coins Promotion’s terms and conditions, any additional Shopee Coins you might have earned in the Shopee app from their cashback or rewards programmes won’t stack with the 5% Shopee Coins you’ll earn:

“For the avoidance of doubt, Orders eligible to earn Cashback under the Promotion will not be eligible to earn any additional Cashback (including in the form of Shopee Coins) under any other Cashback or rewards program offered by Us, unless otherwise specified.”

Regardless of how you earn them, Shopee Coins expire at the end of the third month from when they were awarded. If you don’t use Shopee enough to make use of them within 3 months, these rebates won’t be useful to you.

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4. Mari Credit Card fees and charges

The Mari Credit card goes very light on the fees—$0 annual fee!—but heavy on foreign currency charges. Don’t use this card overseas or to buy purchases with foreign currencies!

Here’s a summary of their fees, interest, and other charges:

Mari Credit Card fees and charges
Annual Card Fee None
Late Fee None. However, they will charge you late interest—see below.
Overlimit Fee None
Interest-free period Up to 51 calendar days from statement date (inclusive), if there is no balance carried forward from previous statement.
Minimum Payment Due 3% of the Statement Due (or S$30, whichever is greater) plus any amount that is overdue and/or exceeds your credit limit.
Interest on outstanding balances

(Nominal Interest)

27.99% per annum, if the Statement Due is not paid in full by Due Date.
Late Interest on outstanding balances

(Late Interest)

30.99% per annum, if the Minimum Payment Due is not paid in full by Due Date.
Foreign Currency Transactions 3.77% (includes the 1% charge imposed by MasterCard)

 


ALSO READ3 Best Credit Card Pairings for Maximising Cashback, Miles, and Rewards


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5. Should I get the Mari Credit Card?

Get the Mari Credit Card if you:

  • Regularly shop on Shopee (so much so that you can make use of the 5% Shopee Coins rebate on items with no dark blue cashback label—but do note that this promotion is only valid till 30 Sep 2024!).
  • Want an unlimited cashback card—1.7% is the best rate out there. It’s tied with the UOB Absolute Cashback Card, but the Mari Credit Card edges out the competition by being Mastercard. The UOB Absolute Cashback’s card association is Amex, which is not as widely accepted.
  • Hate paying annual fees or calling the bank to get them waived.

Don’t get the Mari Credit Card if you:

  • Do not have and do not want to have a MariBank account.
  • Love credit card privileges like dining discounts and complimentary travel insurance—none here.
  • Are expecting a welcome gift—also none here.

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6. How do I apply for the Mari Credit Card?

If you’ve been looking for the application page online to no avail, here’s why: the Mari Credit Card is currently on an invite-only basis.

How do you check if you’ve been invited? That depends on whether you’re:

  • An existing Mari Credit Account user;
  • An existing MariBank customer, but not a Mari Credit Account or Mari Credit Card user yet; or
  • Not a MariBank customer yet

 

For existing Mari Credit Account users

  1. Log in to your MariBank app.
  2. Tap Mari Credit Card on the home screen.
  3. Tap on Get Card Now.

 

For existing MariBank customers who are not Mari Credit Account or Mari Credit Card users:

  1. Log in to your MariBank app.
  2. Tap Mari Credit Card on the home screen.
  3. Tap Apply.
  4. Register for Mari Credit Card digitally with Singpass.

 

For those who are not MariBank customers yet

  1. Download the MariBank app from the Apple App Store, Google Play Store, or Huawei AppGallery.
  2. Register with a valid Singapore mobile number.
  3. Apply for Mari Credit Card digitally with Singpass.

Source: MariBank

In all cases, you’ll receive a virtual credit card immediately once you apply for the Mari Credit Card.

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7. Alternatives to the Mari Credit Card

To compete with the 5% Shopee Coins rebate

UOB One Card: If you spend $2,000 a month, you can get 10% cashback on Shopee and other merchants like McDonald’s (including McDelivery®), DFI Retail Group (Cold Storage, CS Fresh, Giant, Guardian, 7-Eleven and more), Grab (including GrabFood) and SimplyGo (bus and train rides).

UOB logo
MoneySmart Exclusive
Online Promo
LUCKY DRAW | Up to 10% Cashback
Cashback on McDonald's, DFI Retail Group, Grab, Shopee, SP and more
Up to 10%
Cashback Cap per quarter
Up to S$500
Min. Spend per month
S$500
MoneySmart Exclusive:

[LUCKY DRAW]
Stand a chance to win a Cartier Santos-Dumont Watch - Large Model, Blue (worth S$6,000) or an Apple 11-inch iPad Air WiFi, 128GB (worth S$899) or a Sony PlayStation 5 SLIM Digital Edition (worth S$669) when you apply and spend a min. of S$1,000 in Eligible Transactions each month for the first two consecutive months from the card approval date. T&Cs apply.
 
PLUS get S$350 Cash Credit from UOB when you are the first 200 new-to-UOB credit card customers in July 2024 who successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 per month for 2 consecutive months from their card approval date. T&Cs apply.

Valid until 11 Aug 2024

 

To compete with the no minimum spend 1.7% unlimited cashback

UOB Absolute Cashback Card: Also 1.7% unlimited cashback, but the card association is Amex and so may not be as widely accepted.

UOB logo
MoneySmart Exclusive
Online Promo
LUCKY DRAW | 1.7% Unlimited Cashback
Cash Back on Eligible Spend
1.7%
Min. Spend per month
S$0
Cash Back Cap
Unlimited
MoneySmart Exclusive:

[LUCKY DRAW]
Stand a chance to win a Cartier Santos-Dumont Watch - Large Model, Blue (worth S$6,000) or an Apple 11-inch iPad Air WiFi, 128GB (worth S$899) or a Sony PlayStation 5 SLIM Digital Edition (worth S$669) when you apply and spend a min. of S$1,000 in Eligible Transactions each month for the first two consecutive months from the card approval date. T&Cs apply.
 
PLUS get S$350 Cash Credit from UOB when you are the first 200 new-to-UOB credit card customers in July 2024 who successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 per month for 2 consecutive months from their card approval date. T&Cs apply.

Valid until 11 Aug 2024

Citi Cash Back+ Card: Just 0.1 percentage-point lower cashback, and with Mastercard as the card association. Plus, better welcome offers.

Citibank logo
MoneySmart Exclusive
FASTER GIFT REDEMPTION | FLASH DEAL
Cash Back on Eligible Spend
1.6%
Min. Spend per month
S$0
Cash Back Cap per month
Unlimited
MoneySmart Exclusive:

[FLASH DEAL | FASTER GIFT FULFILMENT]
Get UPSIZED CASH REWARDS of up to S$480* OR 5,040 SmartPoints + S$80 Trip.com Coupon, in as fast as 5 weeks from meeting the S$500 spend criteria! T&Cs apply.
 
Use 5,040 SmartPoints to fully redeem a product from our Rewards Store. If the product costs more, redeem with your points and top up the rest by purchasing additional SmartPoints e.g. get an Apple 10.9-inch iPad Wi‑Fi 64GB (10th Generation) at only S$110 on top of your earned SmartPoints.

Valid until 15 Jul 2024

OCBC INFINITY Cashback Card: This card is very similar to the Citi Cash Back+ Card, with the same cashback rate and card association. Read my review of the OCBC INIFINITY Cashback Card for a thorough comparison of Singapore’s unlimited cashback cards.

OCBC logo
MoneySmart Exclusive
Earn up to 1.8% unlimited cashback
on eligible transactions
Earn 1.6% Cashback
Min. Spend
S$0
Cashback Cap
Unlimited
MoneySmart Exclusive:

Earn 1,890 SmartPoints or S$200 Cash via PayNow when you apply and spend a min. of S$500 in qualifying spends within 30 days from card approval date. T&Cs apply.
 
Use 1,890 SmartPoints to fully redeem a product from our Rewards Store. If the product costs more, redeem with your points and top up the rest by purchasing additional SmartPoints e.g. get an Apple 10.2 inch iPad Wi-Fi (9th Generation) 64GB at only S$315 on top of your earned SmartPoints.

Valid until 14 Jul 2024

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P.S. Here’s our MoneySmart credit card ranking rubric

In case you’re wondering, here’s how we decide on our credit card rankings.

Is that credit card MoneySmart? Our MoneySmart credit card ranking rubric
Category Our rating
Overall The average rating for the credit card on the whole, calculated from the ratings for the individual categories below. Plus, we’ll give you a one-liner on who we think the credit card is best suited for. 
Earn rates: Air miles / Cashback / Rewards points Air miles ✈️✈️✈️✈️✈️ / Cashback / Rewards points . This category looks at the depth rather than breadth of earn rates.

  • 5 stars means this card’s got the highest earn rates within that credit card type.
  • 3-4 stars mean it’s average
  • 1-2 stars reflect earn rates that are below average.
Earn categories This category looks at the breadth rather than depth of your earnings.

  • 5 stars: Earn with ANY spend.
  • 3-4 stars: Earn on a large number of categories (e.g. all dining, transport and retail, but not telco bills) OR earn on 1 very broad category (e.g. all contactless/mobile payments).
  • 1-2 stars: Earn a decent rate only on selected categories, such as fast food only.
Annual fees and charges
  • 5 stars: $0 
  • 4 stars: $1-200
  • 3 stars: $201-500
  • 2 stars: $501-$999
  • 1 star: $1,000 and up
  • We dock a star if fee waiver is NOT allowed.
Accessibility Minimum income requirements:

  • 5 stars: Less than $30,000 a year
  • 4 stars: Around $30,000 a year for Singaporeans and $40,000-$45,000 for non-Singaporeans
  • 3 stars: $30,000-$60,000 a year for Singaporeans, $40,000-$70,000 for non-Singaporeans
  • 2 stars: $60,000-$120,000 a year for Singaporeans, $70,000-$120,000 for non-Singaporeans
  • 1 star: $120,000 and up for either, or both

Exclusivity: We dock 1-2 stars if there is/are another category/categories that make the card exclusive and very specific to a certain clientele.

Extras/periphery rewards These include:

  • Travel benefits, such as airport lounge access
  • Lifestyle benefits, such as spa privileges
  • Dining benefits, such as complimentary AMEX Love Dining or Entertainer with HSBC subscriptions

We count the number of benefits and award between 0.5 to 2 stars for each, depending on how good the perk is.

Sign-up bonus
  • 5 stars: The gift(s), cash, or miles are the highest we see out there compared to other credit cards of the same type (miles, cashback, etc). Also easy to attain these welcome bonuses.
  • 3-4 stars: Average but not disappointing sign-up bonus compared to other credit cards. You aren’t losing out.
  • 1-2 stars: You are probably losing out in terms of the welcome bonus you’re getting; there are other similar credit cards with sign-up bonuses that are better or easier to attain.

Check out our ultimate list of credit card reviews for the low-down on credit cards in Singapore.

 

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About the author

Vanessa Nah is a personal finance content writer who pens articles on the ins and outs of buying your first home, the T&Cs of credit cards, and the ups and downs of alternative investments. She’s a researcher at heart and leaves no stone unturned when it comes to breaking down complex finance concepts and making them easy to understand for the everyday Singaporean. When Vanessa’s not debunking finance myths, you’ll find her attending dance classes, fingerpicking a guitar, or (most impawtently) fulfilling her life mission to make her one-eyed cat the most spoiled and loved kitty in the world.