10% cashback is certainly music to everyone’s ears. Learn which of these high cashback credit cards could be your new go-to.
Cashback credit cards like UOB One, Cimb Visa Signature and BOC Family are created for people who want to milk the most out of their purchases. While they aren’t the most fuss-free of all credit cards, they sure are rewarding, offering up to 10% cashback!
Let’s take a closer look at UOB One vs CIMB Visa Signature vs BOC Family.
- Similarities between these cashback cards
- Comparison #1: Cashback workings
- Comparison #2: Minimum spend required to earn high cashback
- Comparison #3: Cashback cap
- Comparison #4: Annual fee waiver
- Comparison #5: Extra perks
- Conclusion: Which one should you choose?
UOB One vs CIMB Visa Signature vs BOC Family
| Credit card | Key benefits |
| UOB One | Up to 5% cash rebate on all eligible spend Extra 5% cash rebate on selected spend |
| CIMB Visa Signature | Up to 10% cashback on selected categories Unlimited 0.2% cashback on all other spend |
| BOC Family | Up to 10% cashback on selected categories Unlimited 0.3% cashback on all other spend |
What these cashback credit cards have in common
UOB One, CIMB Visa Signature and BOC Family are generous cashback credit cards that only require you to have a minimum annual income of S$30,000.
While nobody can deny that their cashback rates are really enticing, all of them need you to meet the minimum spend requirement first before you can lay your hands on the said cashback.
These three cashback credit cards aren’t the most straightforward, but if you don’t mind keeping a close eye on the type of purchases you make or where you make those purchases, you can potentially get a lot out of UOB One, CIMB Visa Signature and BOC Family.
How these cashback credit cards differ
Comparison #1: Cashback workings
| UOB One | CIMB Visa Signature | BOC Family | |
| Cashback workings | Up to 5% cash rebate on all eligible spend Extra 5% cash rebate on the Dairy Farm Singapore, Grab, Shopee Singapore and UOB Travel transactions when you qualify for your quarterly cash rebate, capped at S$100 per month Extra 1% cash rebate on SP Group utilities bills when you qualify for your quarterly cash rebate, excluding payments via AXS | 10% cashback on online shopping, groceries, beauty & wellness, pet shops & veterinary services and cruises Unlimited 0.2% cashback on all other eligible spend | 10% cashback on dining and movies 5% cashback at Family Club Merchants 3% cashback on public transport 3% cashback on online shopping, supermarket, hospital bills Unlimited 0.3% cashback on all other eligible spend |
For those interested in UOB One, keep in mind that the extra 5% Cash Rebate you could earn on Grab and Shopee excludes mobile wallet top-ups and Shopee Pay.
For UOB Travel transactions, online, flight only bookings and relevant taxes are excluded. Dairy Farm Singapore transactions include transactions made at Cold Storage, Giant, Guardian, 7-Eleven, Marketplace, Jasons and Jasons Deli.
For BOC Family, current Family Club Merchants include Best Denki, POPULAR Bookstore, Unity Pharmacy, Watsons and Welcia-BHG.
Comparison #2: Minimum spend required to earn high cashback
| UOB One | CIMB Visa Signature | BOC Family | |
| Minimum spend required to earn high cashback | S$2,000 per statement month for each qualifying quarter: 5% cash rebate. Earn a quarterly cash rebate of S$300 S$1,000 or S$500 per statement month for each qualifying quarter: 3.33% cash rebate. Earn the quarterly cash rebate of S$100 and S$50 respectively | S$800 per statement month | S$800 per billing cycle |
One peculiar trait of UOB One is that you’ll need to make a minimum of five transactions per statement month, in addition to hitting the minimum spend. This shouldn’t be too difficult if UOB One is your go-to credit card for daily transactions, such as groceries, Grab rides, bubble tea or coffee runs.
Comparison #3: Cashback cap
| UOB One | CIMB Visa Signature | BOC Family | |
| Cashback cap | Quarterly cash rebate cap of S$300, S$100 or S$50 depending on spend tier Extra 5% and 1% cash rebate capped at S$100 per month | S$100 per statement month, split into S$20 per category No cap on 0.2% cashback | S$100 per billing cycle, split into S$25 per category No cap on 0.3% cashback |
If you are a big spender who also happens to regularly spend on Grab, Shopee, Dairy Farm Singapore transactions, UOB One could be very rewarding for you as its overall cashback cap is higher than that of CIMB Visa Signature and BOC Family’s.
Just a quick note: you’ll have to pay extra attention to how much you are spending on each category for CIMB Visa Signature and BOC Family as they have cashback caps on each category.
Comparison #4: Annual fee waiver
| UOB One | CIMB Visa Signature | BOC Family | |
| Annual fee waiver | First-year waiver for principal card; free first supplementary card | Free principal and supplementary cards for life | First-year waiver for both principal and supplementary cards |
When it comes to annual fee waiver, CIMB Visa Signature wins hands down. UOB One and BOC Family are standard in what they offer.
Comparison #5: Extra perks
| UOB One | CIMB Visa Signature | BOC Family | |
| Extra perks | Petrol savings of up to 21.15% at Shell and 24% at SPC Up to 2.5% p.a. interest on your UOB One savings account Up to 10% SMART$ rebate at over 300 participating outlets across 3 categories islandwide: dining, shopping, and groceries Exclusive Visa Signature dining, lifestyle and shopping privileges | CIMB dining, retail and lifestyle deals and discounts Transit with ease with SimplyGo | Exclusive Visa Platinum dining, lifestyle and shopping privileges |
Those who drive will surely appreciate the massive fuel discounts there are to be had at Shell and SPC with UOB One. The card also lets you earn up to 2.5% p.a. interest on your savings nestled in the UOB One savings account as you spend on your credit card and credit your salary or pay 3 bills monthly via GIRO.
Conclusion: Which one should you choose?
In this battle involving UOB One vs CIMB Visa Signature vs BOC Family, which high cashback credit card is the most suited to your needs and lifestyle inclinations? While they are all rewarding in their own right, one may be more rewarding for you than the other.
Choose UOB One: UOB One is a versatile, rewarding cashback credit card great for general spending as the cash rebate isn’t split into specific categories. Depending on your spend tier (think: S$500, S$1,000 or S$2,000 per month consecutively for a quarter), you can earn up to 3.33% or 5% cash rebate on all your eligible expenses in the form of a quarterly cash rebate of S$50, S$100 or S$300.
The extra 5% cash rebate you can earn on Dairy Farm Singapore, Grab rides and food delivery, Shopee Singapore and UOB Travel transactions when you qualify for your quarterly cash rebate are fantastic — these are capped at S$100 per month.
Welcome Offer: Receive S$150 cash credit if you are among the first 100 successful applicants to make a min. spend of S$1,500 within 30 days of card approval. Promotion is valid for select UOB credit cards. Valid till 30 June 2021. T&Cs apply.
Choose CIMB Visa Signature: Look no further if you want a cashback credit card that’s free for life. CIMB Visa Signature lets you enjoy all the benefits without any annual fee forever. Consider CIMB Visa Signature if you spend quite equally across these five categories every month: online shopping, groceries, beauty & wellness, pet shops & veterinary services and cruises.
While the total cashback cap per month is S$100, keep in mind the cap is split across the five categories. Also, you’ll need to spend S$800 per statement month to enjoy the 10% cashback on said categories.
Welcome gift: Receive S$120 cash credit when you make a min. spend of S$500 for two consecutive 30-day periods following card approval to be eligible. Valid till 31 July 2021. T&Cs apply.
Choose BOC Family: As its name may suggest, BOC Family is a family-oriented cashback credit card that you can rely on to deliver high cashback on the types of purchases families spend on, such as dining, movies, supermarkets, online shopping, POPULAR Bookstore, Unity Pharmacy, Watsons and more.
Like CIMB Visa Signature, the only main drawback is theS $25 cashback cap on each of the elevated cashback categories. You’ll have to be mindful of how much you’re spending per category in order to maximise your cash rewards. You’ll need to spend S$800 per billing cycle to enjoy the elevated cashback rates.
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By Denise Bay
While Denise has a thing for travel, K-dramas, 0% sugar bbt (with boba!), Japanese cuisine and flat white, her curious nature means all sorts of random tabs are open on her phone 24/7. She doesn’t like to pay full price for anything, too.
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