Are you looking for ways to save money on gas, groceries, and online purchases in Singapore?
Have you been searching for a credit card that rewards your spending with cashback bonuses?
Having the right cashback credit card doesn’t mean settling for just any offer.
Researching is key to getting the most bang for your buck, and there are many different cards out there with varying conditions and incentives.
In this article, I’m going to review the best cashback credit cards available in Singapore so that you can decide which one is right for you.
Factors to Consider When Choosing a Cashback Credit Card in Singapore
When choosing the best cashback credit card in Singapore, there are a few factors to consider.
Firstly, you should understand how cashback works and how to maximise its benefits.
Many cards offer different earn rates on different categories, so make sure that you choose the one that offers you the most points or rewards based on your spending habits.
In addition, take note of other card features such as annual fees, foreign transaction fees, promotional bonuses, and minimum charges.
Though many credit cards come with several offers and privileges, it’s important to ensure that these perks come without excessive costs attached.
Finally, when choosing your cashback credit card in Singapore, compare different banks’ offers for their respective cards.
Try going through reviews by customers of each specific bank’s services and consider customer service issues which others may have faced while using their services in recent years.
By following these simple tips, you should be able to find the perfect cashback credit card for yourself!
Comparing the Best Cashback Credit Cards in Singapore
- Citi Cash Back
- Citi Cash Back+
- Standard Chartered Unlimited
- American Express True Cashback Card
- UOB One Card
- Maybank Family & Friends Card
- OCBC Frank Card
- DBS Live Fresh Card
- UOB EVOL Card
- UOB Absolute Cashback Card
| Credit Card | Annual Fee | Income Requirements |
| Citi Cash Back | S$192.60 | S$30,000 for Singaporeans S$42,000 for non-Singaporeans |
| Citi Cash Back+ | S$192.60 | S$30,000 for Singaporeans S$42,000 for non-Singaporeans |
| Standard Chartered Unlimited | S$192.60 | S$30,000 for Singaporeans S$60,000 for non-Singaporeans |
| American Express True Cashback Card | S$171.20 | S$30,000 for Singaporeans S$45,000 for non-Singaporeans |
| UOB One Card | S$192.60 | S$30,000 for Singaporeans S$40,000 for non-Singaporeans |
| Maybank Family & Friends Card | S$180 | S$30,000 for Singaporeans S$60,000 for non-Singaporeans |
| OCBC Frank Card | S$80 | S$30,000 for Singaporeans S$45,000 for non-Singaporeans |
| DBS Live Fresh Card | S$180 | S$30,000 for Singaporeans S$45,000 for non-Singaporeans |
| UOB EVOL Card | S$192.60 | S$30,000 for Singaporeans S$40,000 for non-Singaporeans |
| UOB Absolute Cashback Card | S$192.60 | S$30,000 for Singaporeans S$40,000 for non-Singaporeans |
Following is a breakdown of other card features, such as the credit limit, cashback value, and other perks.
| Card | Features |
| Citi Cash Back |
|
| Citi Cash Back+^ |
|
| Standard Chartered Unlimited^ |
|
| American Express True Cashback Card^ |
|
| UOB One Card |
|
| Maybank Family & Friends Card |
|
| OCBC Frank Card |
|
| DBS Live Fresh Card |
|
| UOB EVOL Card |
|
| UOB Absolute Cashback Card^ |
|
^Unlimited Cashback cards
*Note: All information is valid as of 13/08/2022, with terms, conditions, and features subject to changes.
Best Cashback Credit Card: UOB Absolute Cashback
Now for our list of cashback credit cards today, all of them do have a pretty wide range of features, pros, and cons to consider.
However, after much deliberation, I think the best cashback credit card would be the UOB Absolute.
From our list of features and information in the second table, it may not seem very exciting compared to the rest of the cards.
But as the saying goes, never judge a book by its cover!
Though it has very few points to discuss, that is one of the reasons this is our overall best today, as this card is really straightforward!
It’s got the highest cashback value for unlimited cashback cards, at 1.7%!
What’s more? There are no spend exclusions or minimum spend requirements!
You can use this card anywhere, for anything, without needing to remind yourself to hit any amount to enjoy the cashback!
An additional plus is that there is also no cap on how much you can earn. Translation: as long as you keep spending, you can keep earning!
While some other cards on our list today have higher cashback values for select categories, I think earning with these cards should be effortless and stress-free.
In comparison, while some cards have higher cashback values, they have caps on how much you can earn – regardless of how much you spend.
Moreover, some spending may not even earn you cashback.
I’d say that the only downside to this card is that, as it’s considered an American Express Card, not all merchants accept this card.
However, this card does offer exclusive American Express and UOB Lifestyle privileges across a wide range of categories, which makes up for it.
Overall, I think that the card is still the best as it’s simple and useful since you can earn for all your spending.
Best Cashback Credit Card for Everyday Spending: UOB One Card
If you’re looking for a cashback credit card for everyday spending, check out the UOB One Card!
This card offers up to 10% cashback on daily spending for useful categories such as travel, grocery shopping, and online shopping!
You can also enjoy up to 4.33% and 3.33% cashback on Singapore Power utility bills and all retail spending, respectively.
Albeit most of these attractive cashback values can only be earned on select merchants, as the brands listed are common merchants you may be shopping at, you don’t have to worry much about earning.
Other than the Standard Chartered and Citi Cash Back cards, this card is also the only other one to offer fuel savings, and that too, up to 22.66% at Shell and SPC!
Given the current climate of increasing costs, especially for fuel, this feature is definitely great.
Per quarter, you can earn a maximum rebate of S$50, S$100, or S$300, provided you hit the respective minimum spend requirement tiers of S$500, S$1,000, or S$2000.
You have to ensure that you hit the aforementioned minimum spend amounts with a minimum of 5 purchases consecutively for 3 months.
As this card does have a maximum rebate of S$300 for spending S$2,000, you should also watch your expenses, as spending more than that would lower your cashback percentage.
I think that, as a whole, the card still lives up to its title of Singapore’s Most Generous Cashback Card.
Best Cashback Credit Card for Globetrotters: Citi Cash Back
For this next card, if you travel the world a lot, then the Citi Cash Back is the most suitable card for you!
This card offers the following:
- Generous cashback value percentages of 8% and 6% for grocery shopping and dining, respectively (worldwide)
- 0.25% cashback on all other retail spending
- Up to 20.88% fuel savings at Esso and Shell (and 8% cashback at other petrol stations – worldwide)
- Citi World Privileges of deals and discounts locally and in 95 other countries
Perhaps grocery shopping isn’t something you may be doing a lot whilst travelling, but I’m sure dining, shopping, and maybe even renting a car or bike, are expenses you may incur whilst overseas.
With this card, you can spend and earn cashback just as you would in Singapore (for most categories, at least).
You can get up to S$1 million coverage when you charge your travel tickets to the card and earn bonus cashback if you hit a minimum monthly spend of S$800.
The only downside to this card is that total cashback earnings are capped at S$80 combined across all retail spend per statement month.
However, if you look at the big picture, if you spend the card right, you can earn up to S$960 cashback in a year!
All in all, the card is worth it, given its generous cashback percentages that can be applied anywhere in the world.
Best Customisable/Personalised Cashback Credit Card: Maybank Family & Friends Card
Want your credit cards to be more specially tailored to your needs? Well, the Maybank Family & Friends Card has got you covered!
Earn 8% cashback (globally!) on your 5 preferred cashback categories from the list of 10 options!
With each credit card having its own varied earning categories, you may not always be able to use the card to its full potential if there are certain categories you don’t need to spend on.
As such, I think this Maybank card’s option to select your cashback categories is a great way to personalise this card fully to how you want to use it.
You can conveniently pick your categories from the Maybank TREATS SG app and pick from the below:
| Categories | Eligible Spending |
| Groceries* | NTUC FairPrice/Finest/Xtra, Cold Storage, Giant, Market Place, Jasons, Sheng Siong, DON DON DONKI, HAO Mart, RedMart, Amazon Fresh and all other grocery stores and supermarkets |
| Dining & Food Delivery* | Restaurant dining, Foodpanda and Deliveroo |
| Transport* | Petrol stations, Contactless bus and train rides, Limousines, Taxi, Grab/GOJEK rides, other transportation services, and automotive related services |
| Data Communication & Online TV Streaming* | StarHub, Singtel, M1 Limited, Circles.Life, MyRepublic, Disney+, Netflix and/or other telecommunication services, pay television, cable, and radio services |
| Retail & Pets* | POPULAR Bookstores, Toys ‘R’ Us, Yamaha Music, Mothercare, Kiddy Palace, pets and veterinary related services |
| Online Fashion | Online purchases on Apparels, Shoes, Accessories, Leather goods, Luggage, and other fashion purchases |
| Entertainment | Bars, Drinking places, Cinemas, Motion Picture Theatres, Theatrical Producers and Ticketing agencies |
| Pharmacy | Guardian, Watsons, Unity, GNC/LAC, and other drugstores and pharmacies |
| Sports & Sports Apparels | Sports/Riding apparels, Sporting goods, Bicycle shops, Recreation & sporting camps, Athletic fields, Commercial sports, Professional sports club, Golf courses, Country clubs and Membership (Athletic/Recreation/Sports) |
| Beauty & Wellness | Massage parlours, Health & beauty spas and Barber shops |
*Default categories that will be selected for you to earn cashback. You may change these from the app.
The cool thing about this card is that all categories and their eligible spendings apply globally. In other words, you can use this card wherever you travel and still earn cashback!
However, note that the preferred categories you select only apply for 3 months after confirmation. If you wish to change these categories, you may do so quarterly.
In addition to this card’s customisable selection of categories to earn from, you can even choose your own card design from their 3 options!
There is also an exciting 8% cashback earning; however, it can only be applied with a minimum spend of S$800.
You can earn up to S$125 per calendar month, but a cap of S$25 per selected category may be a bit of a bummer.
Again, if you milk this card right, you can earn a total cashback of up to S$1,500 in a year!
Any spending below $800, spending in other categories, and above the cashback limit will give you only 0.3% cashback
It is also worth noting that this card is the only one on our list today with the lowest annual fee of S$180, which has remained unchanged despite the GST hike in 2023!
Not to mention, this card does also have an additional 0.3% cashback on AXS bill payments with no minimum spend required. This feature is capped at S$50 per transaction, but still a good earning avenue.
Now you can pay your bills knowing you’re still earning some extra cash!
Best Cashback Credit Card for the Eco-Conscious: DBS Live Fresh
With the card itself made from 85.5% recycled plastic, it’s no surprise that the best cashback credit card for those passionate about the environment is the DBS Live Fresh card.
This card offers up to 10% cashback – 5% on Online & Visa Contactless Spend, and an extra 5% Green Cashback on various selected eco-eateries, retailers, and transport services!
You have to hit a minimum spend requirement of S$600 per calendar month to enjoy that extra 5% Green Cashback, but as long as you use this card regularly for contactless payments alone, I’m sure you can hit the minimum.
Here is a comprehensive list of all the eligible spends for you to explore:
| Categories | Merchants |
| Eco-eateries |
|
| Eco-retailers |
|
| Eco-transport services |
|
If, however, you do not hit the minimum spend of S$600, you can still earn 0.3% cashback on all other spends, which is still a plus.
Overall, I think this card is quite a good deal, with its only downside being its cashback caps for certain expenditures.
If you’re one to care for the environment, definitely consider this card.
Best Cashback Credit Card for Online Shopping: UOB EVOL Card
With an 8% cashback earning ability on all online and mobile contactless spending, this next card is the best for online shopping!
For this card, you do need to hit a minimum spend requirement of S$600 monthly.
But not to worry, this shouldn’t be a problem as you can earn cashback on expenditures such as dining, entertainment, and Grab.
Plus, you can earn 0.3% cashback on all other spends, which should also help.
Unfortunately, this card has a cashback cap of S$60 per statement month, which I personally find quite low.
However, I guess they compensate for this with their further annual fee waivers that you can enjoy if you make at least 3 transactions on your UOB EVOL Card every month for 12 consecutive months.
Perhaps inspired by the DBS Live Fresh card, the UOB EVOL Card is also made of non-edible corns – 84% plant-based Polylactic Acid (PLA), another eco-friendly alternative for the card material.
Another plus, the card also offers eco-friendly deals and over 1,000 deals from fashion to dining and more!
Best Cashback Credit Card for Big Spenders: OCBC Frank
Do you shop or spend a lot? If yes, then definitely consider the OCBC Frank card to earn some cash back as you spend.
This card has a minimum monthly spend of S$800, but you can earn up to S$100 in cashback monthly if used well!
In terms of earning, the really impressive feature of this card is that there is a lot of flexibility regarding how you can earn cashback.
This is because you can earn up to 8% cashback when you pay with your smartphone or watch in stores, make local online purchases (in SGD), and make purchases in foreign currencies!
Additionally, you can also earn an extra 2% cashback on transactions made at the following selected green merchants:
| Categories | Merchants/Services |
| Eco-transport services |
|
| Eco-retailers |
|
I’d say that the only drawback with this card is that the S$100 monthly cashback cap is also split into categories. In other words, you can only earn S$25 for each of the following categories:
- 8% cashback on foreign currency transactions
- 8% cashback on SGD transactions made online and via mobile contactless
- Extra 2% cashback on transactions made at selected green merchants
- 0.3% cashback on all other eligible spends
So if you are a big spender and are considering this card, monitor your expenses to ensure that you’re maximising your cashback earnings with this card as per the categories.
Also worth noting, the OCBC Frank card does come in 2 designs – Obsidian or Vortex, so you can take your pick!
Overall, I think the card has impressive features and should be considered an option.
Conclusion
In conclusion, Singapore offers a wide variety of cashback credit cards that can save you money on your purchases.
These credit cards each provide different rewards and benefits, so it’s essential to do your research and find the one that best suits your needs.
Whether you’re looking for a card with high cashback rewards or no annual fee, there will surely be an option for everyone.
Finally, remember to pay off your credit card balance every month to avoid any additional fees or interest charges.
With the right choice of credit card, you can reap the benefits of cashback rewards while avoiding any unnecessary expenses.
