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The Best Cashback Credit Cards in Singapore This 2017

best-cashback-credit-cards-in-singapore

With the best cashback credit cards in Singapore, you save money on your favourite activities and everyday expenses.

Of the many ways credit cards can save you money, using a cashback credit card to earn rebates is perhaps the most straightforward.

These cards can help you save money as you indulge in your favourite activities, and come to the rescue should you want to reduce daily expenses. The latest cards even give you rebates regardless of what you spend on, allowing you to save a few dollars every day.

To help you choose the most suitable one, here’s our rundown of the best cashback credit cards in Singapore for 2017.  

Best Cashback Credit Cards in Singapore 2017

Cashback Rate

Cashback Cap Minimum Spend Required

Features and Promotions

Standard Chartered Unlimited Cashback Credit Card 1.5% all spend No limit None 3% cashback on foreign currency transactions (until 30 Jun 17)
Welcome gift, choose from:
  • – S$138 cashback
  • – S$150 Uber credits
  • – S$150 Caltex StarCash

Comes with EZ-Reload, can double up as EZ-Link card

American Express True Cashback Card 1.5% all spend No limit None 3% cashback on S$5,000 within first 6 months
Free membership to– Amex Dining Selects & Global Dining– Amex Global Assist
Cashback is credited instantly and applies on same-month transactions
Citi Cash Back Visa Card 8% groceries, petrol and dining S$25 per category per month Min spend of S$888 per month Welcome gift: additional S$120 cashback when you spend S$200 per month for 6 consecutive months
Comes with EZ-Pay, can be used for ERP payments
OCBC 365 Credit Card



  • Dining: 6% on weekends, 3% on weekdays, and overseas dining
  • 3% on online shopping
  • Up to 23.9% at Caltex, and 18.3% at Esso
  • Up to 5% at all other petrol stations
  • 3% at supermarkets islandwide
  • 3% on recurring telco bills
S$80 per month Min spend of S$600 per month Additional benefit for CDA Trustees:

3% cashback on medical spend transacted over the counter (dental, clinics, hospitals and cord blood banking).

Best for Highest Potential Savings: Standard Chartered Unlimited Cash Back Card

This newly launched credit card by Standard Chartered comes with an attractive suite of welcome offers and features aimed at helping you save money while making your everyday commute just a little bit better.

standard-chartered-unlimited-cashback-cardHSBC DCP Promo

For starters, you can use the Standard Chartered Unlimited Cashback Credit Card as an EZ-Link card, thanks to its bundled EZ-Reload function. You’ll also get to choose from 3 welcome offers – Uber credits, Caltex StarCash (for petrol and related use), as well as a straight-up cash credit worth S$138.

And from now till 30 June 17, this card will also give you 3% cashback on all transactions conducted in foreign transactions.

But all that aside, how does it perform in its primary function of saving you money? Well, with a base cashback rate of 1.5% on all spend, and no cashback cap, you could potentially reap the greatest savings with this card.

And, coupled with the ability to serve as your EZ-Link card, this is one card you’ll be keeping close at hand.

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

21 to 65 years old
S$30,000 minimum annual income
21 to 65 years old
S$60,000 minimum annual income, with valid employment pass
S$192.60 (GST included) 2 years 25.9% per annum


What We Like

  • 1.5% cashback on all spend, no cashback cap
  • 3% cashback on foreign currency transaction (until 30 Jun 2017)
  • No minimum spend required
  • May be used as EZ-Link card
  • Attractive welcome offers

What We Don’t Like

  • 25 cents fee per EZ-Reload top-up (charged by EZ-Link)

Get This Card If You…

  • Seek everyday savings. With EZ-Link capability, and automatic 1.5% discount on everything, this credit card could prove to be a valuable everyday companion.

Best for Hassle-free Cashback: American Express True Cashback Card

American Express introduced Singaporeans to the concept of true cashback, where you freely earn a fixed rebate on all eligible transactions. No minimum spend, no cashback limit, no restrictions on spend category. In other words – no hoops to jump through.

american-express-true-cashback-cardHSBC DCP Promo

The American Express True Cashback Card is perhaps the most straightforward cashback card out there. It rewards you with 1.5% savings every time you spend, allowing you to earn savings where other cashback cards may not.

Any cashback you earn is instantly awarded and applied to your same-month statement, so you can see your savings at one glance. Because of all these, this card could potentially become your largest money saver, just like our No.1 pick.

If you’re new to cashback credit cards, don’t like to keep track of purchase categories or cashback limit, or simply hate deciphering complicated bank statements, you’ll likely love the simplicity offered by the American Express True Cashback Card.

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

At least 21 years old
S$30,000 minimum annual income
At least 21 years old
S$60,000 minimum annual income
S$171.20 (GST included) 1 year 24.99% per annum, rising to 29.99% per annum if account falls into default


What We Like

  • 1.5% cashback on all spend, no cashback cap
  • 3% cashback on S$5,000 spent in first 6 months
  • No minimum spend required
  • Instant award of eligible cashback for same-month savings

What We Don’t Like

  • Fee waiver of only 1 year
  • Interest rate spikes in case of default

Get This Card If You…

  • Enjoy simplicity. With our hurried everyday lives, earning rebates in a simple and efficient manner can truly make for some satisfying spending.
  • Like earning unlimited cashback. Your credit card spending doesn’t stop, so why should your rewards?

Best for Household Savings: Citi Cash Back Visa Card

Here’s a card that gives you 8% savings on three of the most common household expenditures – dining, groceries and petrol.

Citi Cash Back CardHSBC DCP Promo

With the Citi Cash Back Visa Card (which you can use for your ERP fees, by the way), you can get up to S$25 cash back per each of these 3 categories per month. This translates to a potential savings of S$900 per year – sufficient for a weekend family getaway or two. Add in the S$120 cashback welcome offer and you could save over S$1,000 in your first year.

You’ll get savings of up to 20.88% at Esso and Shell, so even weekend drivers can benefit from the full cashback on petrol. All other petrol spends will earn you 8% cashback.

As for groceries and dining, you’ll earn 8% on all supermarkets and grocers in Singapore, and 8% at all cafes, restaurants and F&B outlets globally.

SingSaver.com.sg exclusive offer: We’re giving away a S$100 FairPrice voucher to all successful applicants of the Citi Cashback Visa Card. This limited offer expires on 31 Mar 2017!

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

At least 21 years old
S$30,000 minimum annual income
At least 21 years old
S$42,000 minimum annual income
S$192.60 (GST included) 1 year 26% per annum, rising to 29% per annum if account falls into default


What We Like

  • Up to 20.88% cashback at Esso and Shell, 8% cashback at all other petrol stations
  • 8% cashback at all supermarkets and grocers in Singapore
  • 8% cashback at all cafes, restaurants and F&B outlets globally
  • Additional S$120 cashback as welcome offer
  • Can be used for ERP payments

What We Don’t Like

  • Minimum spend of S$888 per month required to earn cashback
  • Cashback capped at $25 per month per category

Get This Card If You…

  • Want household savings. You can reduce your household budget and stretch your money just a little bit more with this card.
  • Want maximum petrol savings. The high cashback earn rate at Esso and Shell can help you maximise your fuel savings, even if you don’t drive frequently.

Best for Everyday Savings: OCBC 365 Credit Card

If you’re looking for a card that will give you cash rebates on most of your family activities, you should check out the OCBC 365 Credit Card.

OCBC 365 CreditCard-no bgOCBC 365 Credit Card

This card gives you cashback on petrol, dining, online shopping (you can pair this card with Lazada credit card promotions), groceries and even your recurring telco bills. The cashback earn rate may not be as high as other cards, but the OCBC 365 Credit Card covers more categories, which means more opportunities and flexibility for you to earn cashback. 

Another advantage of this card is the generous monthly cashback cap – you can earn up to S$80 in rebates per month, or just slightly under S$1,000 a year.

Qualifying Criteria and Card Fees

Before applying for this card, check the eligibility requirements and card fees below.

Singaporeans/PR

Foreigners Annual Fee Fee Waiver

Effective Interest Rate

At least 21 years old
S$30,000 minimum annual income
At least 21 years old
S$45,000 minimum annual income
S$192.60 2 years 25.92% per annum


What We Like

  • Up to 23.9% savings on petrol
  • 6% cashback on weekend dining, and 3% on weekday and overseas dining
  • 3% cashback on online shopping, groceries and telcos

What We Don’t Like

  • Minimum spend of S$600 per month to earn cashback
  • Cashback capped at $80 per month

Get This Card If You…

  • Like flexible ways to save money. With cashback applied across multiple spend categories, the OCBC 365 Credit Card gives you plenty of opportunities to earn rebates and reduce your budget.  

You can use SingSaver.com.sg’s free comparison tools to compare cashback credit cards in Singapore.

Read This Next:

Best Credit Cards for Paying Your Utility Bills in Singapore
Clash of the Cashback Cards: Standard Chartered vs American Express


Alevin ChanBy Alevin Chan
A Certified Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimize happiness and enjoyment in his life.


The post The Best Cashback Credit Cards in Singapore This 2017 appeared first on Financial News and Advice in Singapore.



This post first appeared on Singsaver.com.sg News, please read the originial post: here

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