Cashback Credit Card Singapore


Best Cashback Credit Cards in Singapore 2017

Top 7 Cashback Credit Cards in Singapore

A benefit of a cashback reward is that you get to receive a portion of your money after you have spent it. You can look at it as a means of getting a discount.

The difference – and it’s an outstanding one – between a cashback and a discount reward system is that in a cashback reward system, you can freely shop for your selected products and services (in a category). It’s all up to you, and so long as you purchase items from a category, you get part of your money back.

On the other hand, in a discount reward system, the rules are a bit tighter. In this reward system, you are limited to buying particular items (in a category). Unless you play by the rules, receiving part of your money back isn’t possible.

That said, it’s clear that a cashback reward system has advantages.

Here’s a look at the cashback credit cards for Singaporeans.

Credit Card Best for
POSB Everyday Card Unlimited cashback
Standard Chartered SingPost Platinum VISA Cashback for online shopping
Citi Cashback VISA Cash rebate
OCBC 365 Card No-fee cashback
Standard Chartered Unlimited Cashback High and unlimited cashback rate
UOB One Card Flat-rate cashback
HSBC VISA Platinum Card Cashback for groceries

1: POSB Everyday Card

Best for: Unlimited Cashback

Annual fee: SGD $180

With the POSB Everyday Card, there is no cap on cashback. This means, you get cashback as much as you want – and as long as you’re making purchases. For shoppers of all sorts, this is great news.

The fact that the card’s cashback reward system focuses on a variety of categories – from petrol and TELCO discounts to grocery discounts and dining deals – is a benefit. This grants shoppers the opportunity to receive cashback for just about everything they spend on!

To apply to be a POSB Everyday Cardholder, just present proof of minimum income requirements. The amount should be SGD $30,000 for Singaporeans and SGD $45,000 for non-Singaporeans.

2: Standard Chartered SingPost Platinum VISA

Best for: Cashback for online shopping

Annual fee: SGD $192.60

A major factor that makes the Standard Chartered SingPost Platinum VISA a contender in the list of top cashback cards is its support for online shoppers. By using this card when paying for purchases, online shoppers are eligible to receive 7% cashback!

As a cardholder, you will have to pay the annual fee of SGD $192.60. But, guess what’s a treat for you? For two years, this annual fee is waived!

To get started in applying for the SC SingPost Platinum VISA card, simply meet the eligibility requirements. The minimum income requirement is SGD $30,000 for Singaporeans and SGD $60,000 for non-Singaporeans.

3: Citi Cashback VISA

Best for: Cash rebate

Annual fee: SGD $192.60

A benefit of being a Citi Cashback VISA cardholder is the cash rebate system. For particular purchases, you can receive your money back. You get 8% cash rebate for these purchases.

Alongside, with the Cashback VISA Card, you get HUGE discounts on petrol (up to 20.88%), dining, and groceries. This means, you can receive many special privileges just by using your credit card.

Simply meet the minimum income requirements to be eligible for application. SGD $30,000 is the income requirement for Singaporeans and SGD $42,000 for non-Singaporeans.

4: OCBC 365 Card

Best for: No-fee cashback

Annual fee: SGD $192.60

The OCBC 365 Card offers a no-fee cashback reward program. This means, there are no minimum spend requirements to worry about. As simple as using this card, you can receive cashback!

It’s easy to apply to be an OCBC 365 Cardholder. So long as you can present valid proof of meeting income requirements, you pass the eligibility test. The minimum income requirement is SGD $30,000 for Singaporeans and SGD $45,000 for non-Singaporeans.

5: Standard Chartered Unlimited Cashback

Best for: High and unlimited cashback rate

Annual fee: SGD $192.60

The Standard Chartered Unlimited Cashback card is applauded for its high and UNLIMITED cashback rate. No matter what you buy (as long as you use this card), you get 1.5% cashback!

If you will use foreign currency, the 1.5% cashback rate is doubled (and you get 3% cashback)!

You can submit your application to be an SC Unlimited Cashback cardholder (and increase your chances of approval) once you ensure that you’re financially eligible. The minimum income requirement is SGD $30,000 for Singaporeans and SGD $60,000 for non-Singaporeans.

6: UOB One Card

Best for: Flat-rate cashback

Annual fee: SGD $192.60

With the UOB One Card, you’re entitled to a flat-rate cashback reward system. 3.33% cashback is yours if you meet the quarterly requirements of SGD $1,000. If you go beyond the SGD $1,000 limit and end up spending double that amount, which is $2,000, the cashback rate also goes up to 5%!

To apply, simply present valid proof of the minimum income requirements. The figure is SGD $30,000 for Singaporeans and SGD $40,000 for non-Singaporeans.

7: HSBC VISA Platinum Card

Best for: cashback for groceries

Annual fee: SGD $180

Do you want to avail of cashback for grocery items? If so, the HSBC VISA Platinum Card is worth checking out.

You can get up to 5% cashback for groceries! Just meet the quarterly minimum spend requirement of SGD $800.

To keep the ball rolling, apply for the HSBC VISA Platinum Card by meeting the income requirements. Once you show proof of income (SGD $30,000 for Singaporeans and SGD $40,000 for non-Singaporeans), you’re eligible for application!

Final Thoughts

Overall, these seven cashback credit cards in Singapore are worth applying for. As you can see, they offer great deals on cashback rewards – irresistible cashback rewards, to be exact.

To begin your quest of applying for (one of) these cards, take note of the important details regarding their offers. For you, what is the cashback offer that you truly want?

If you think a particular offer works best for your kind of lifestyle, then go for it. While you’re at it (and especially if you want to be a long-term cardholder), don’t forget the annual fee requirements.

After reading about the aforementioned cashback credit cards, which one is a contender for you?

Please leave a comment below to discuss your opinions about the subject. If you like to suggest another cashback credit card, you may do so. The comments section is an ideal venue.

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