The POSB Everyday Card looks like a plain ol’ auntie card, but don’t be fooled by its ho hum exterior. It’s actually one of the best cashback credit cards for cash rebates at Sheng Siong and Watsons.
That’s because it’s one of the few cashback credit cards with no minimum spend requirement. The cash rebates are surprisingly decent, and for some categories there isn’t even a cap.
As someone who refuses to let my credit card dictate my monthly spending habits, I completely approve. Here’s a closer look at the POSB Everyday Card to see if it is the one for you.
POSB Everyday Card terms & conditions
| POSB Everyday Card | |
| Annual fee & waiver | $192.60 (waived for 1 year) |
| Supplementary annual fee | $96.30 |
| Interest free period | 25 days |
| Annual interest rate | 26.80% |
| Late payment fee | $100, if outstanding balance is above $200 |
| Minimum monthly repayment | 3% or $50, whichever is higher |
| Foreign currency transaction fee | 3.25% |
| Cash advance transaction fee | 8% or $15, whichever is higher |
| Overlimit fee | $40 |
| Minimum income | $30,000 (Singaporean/PR) / $45,000 (non-Singaporean) |
| Card association | MasterCard |
| Wireless payment | MasterCard PayPass |
- Cash rebates on food delivery
- Up to 10%
- Cash Rebates on Utilities and Telecommunications bill payments
- Up to 3%
- Fuel Savings at SPC
- Up to 21.8%
How the POSB Everyday Card works
The POSB Everyday Card probably owes its auntie reputation to its key bonus rebates for Sheng Siong and Redmart, where you can earn 5% and 8% cashback respectively.
The POSB Everyday Card is also one of the rare credit cards that let you get cashback on your utilities and telco bills. Electricity retailer bills qualify too! Sure it’s only 1%, but better than nothing right?
Also, the cash rebates never expire. So you can make full use of them to offset purchases at over 200 partner outlets and via the DBS Lifestyle app.
Psst, there’s also an ongoing cashback promo for first time card applicants. Apply online by 30 April 2022 with the promo code 150CASH to get $150 cashback. All you have to do is spend a minimum of $800 within 60 days of the card approval.
- Cash rebates on food delivery
- Up to 10%
- Cash Rebates on Utilities and Telecommunications bill payments
- Up to 3%
- Fuel Savings at SPC
- Up to 21.8%
Who should use the POSB Everyday Card?
There are some credit cards that are for atas people who drive Aston Martins and drink black truffle lattes. Not this card. The POSB Everyday Card is for average Singaporeans who eat cai png, not “protein bowls” from Saladstop or similar shops.
In short, it’s best for thrifty Singaporeans who don’t mind doing their shopping for necessities at Sheng Siong and Redmart. You get a pretty decent cashback of 5% to 8% on these everyday items without any pressure to spend.
Additionally, because there’s no cashback cap for petrol, it’s great for those who spend a lot on petrol, like sales agents or those who need to drive around a lot for work. Get 6% cash rebate on the final charge amount, after any other applicable discounts).
(Those with a Private Hire Car Driver’s Vocational License (PDVL) are better off with the newly introduced Esso Private Hire Smiles Card instead. Read more about the 3 best credit cards for petrol here.)
Alternatives to the POSB Everyday Card
This isn’t the only credit card targeting Singaporeans on a budget. Far from it. Let’s check out what others are on the market that offer all-round cashback with low minimum spends:
Citibank Cashback+ Mastercard – Yay, another credit card with no minimum spend! This one is a fuss-free credit card with a flat 1.6% cashback across most categories, but it doesn’t include utilities or telco bills.
- Cash Back on Eligible Spend
- 1.6%
- Min. Spend per month
- S$0
- Cash Back Cap
- Unlimited
Apply and Spend $500 to get S$350 Cash via PayNow OR a NEW Apple Watch SE (worth S$379) OR BOSE QuietComfort Earbuds II (worth S$379). T&Cs apply.
UOB Absolute Cashback card – This card has the highest unlimited cashback in the market. at 1.7%. It also has no minimum spend and no spend exclusions, so you can use this card to pay your bills and insurance premiums. But, and this is a very big but — it’s an Amex card, so smaller merchants might not accept it.
Standard Chartered Unlimited Cashback Card – This card plays second fiddle to the Citi Cashback+ Mastercard, because it’s essentially the same, but at a cashback rate of 1.5%, o.1% less.
For (many) more cashback credit card reviews, see the all-purpose and grocery cashback cards sections of our cashback cards roundup here.
Decided that the POSB Everyday Card will literally be your everyday card for daily necessities? Apply here:
- Cash rebates on food delivery
- Up to 10%
- Cash Rebates on Utilities and Telecommunications bill payments
- Up to 3%
- Fuel Savings at SPC
- Up to 21.8%
What’s your favourite cashback credit card? Share it with us in the comments below.
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