Best Cashback Credit Cards in Singapore 2024

If you consistently spend S$2,000/month, you’ll enjoy some of the highest cashback on the market with the UOB One Card . Spend at this level earns up to 3.33% cashback, capped at S$200/quarter, on your general spending. This rate is further boosted with an additional 6.67% cashback on McDonald’s, Grab, Shoppee, SimplyGo, Giant, Cold Storage, CS Fresh, 7-Eleven, Jason’s, Jason’s Deli and UOB Travel. You will also get to enjoy 1% cashback on Singapore Power Utility bills.

Lower or inconsistent spend also earns 3.33%  cashback up to S$50 or S$100/quarter (depending on minimum spend) on general spending but only an additional 5% cashback on spending with the above mentioned partners.

One of the best features of UOB One Card is that cardholders can ‘double’ their rebates through the UOB$ Programme, which also earns UOB$ credits with select merchants. These UOB$ credits automatically offset future purchases with the same merchant. With the UOB One Card, consumers can make the most of their daily spend, while only paying a S$196.20 annual fee. Overall, this card is the best flat rebate option on the market for average spenders.

Citibank Cash Back Card is a great card for average consumers who spend most of their budget on food and transport. Dining, groceries, and petrol (any station) earn 8% cashback, up to S$80/month, which is one of the highest offers for these spending categories.

One drawback is that consumers must spend S$800/month to unlock these rates and general spend earns just 0.25% cashback. There is a S$196.20 fee, which is only waived for the first year. These features may make Citi Cash Back Card slightly less accessible for some consumers. Overall, however, this card stands out for rewarding top spend categories with market–leading cashback rates, with the potential to earn up to S$960/year in cashback.

If you spend on a wide variety of daily essentials and are open to occasionally shopping with select merchants, POSB Everyday Card may be a great match for you. Cardholders can typically earn up to 10% rebate in categories such as online food delivery, 5% cashback on online shopping and groceries, 3% on dining, phone bills and utilities and up to 20.1% fuel savings at SPC. Some categories may have vendor limitations, but others are more flexible.

The wide variety of categories that qualify to earn cashback make the POSB Everyday Card a great choice for those who do not concentrate most of their spending within only one or two categories. Furthermore, consumers can enjoy all-in-one convenience as POSB Everyday Card has SimplyGo/ABT capabilities, allowing for contactless fare payment on public transit rides.

The minimum spend to earn cashback is S$800 a month. Most of the cashback categories also have a monthly cap on the amount of cashback you can earn per category.

HSBC Advance Card is one of the best flat rebate cards on the market for higher spenders with no minimum spend requirements. The base cashback is at 1.5% for monthly spend of S$2,000 and below, and 2.5% for spend above S$2,000. The cashback earned is capped at S$70 per month.

Customers can also earn an additional 1% bonus cashback when they deposit a minimum of S$2,000 per month in fresh funds to their HSBC Everyday Global Account and charge five transactions to their HSBC Advance Credit Card monthly. When these qualifying criteria are met, you can earn a total cashback of 3.5% with a monthly cap of S$300, which is S$3,600 savings per year – the highest earning potential for a capped card on the market! Ultimately, HSBC Advance Card stands out because it allows Advance customers to earn more cashback per month than with most competitors (who frequently limit rewards to S$100/month) and provides a higher flat rate than most unlimited cards.

OCBC 365 Card offers a great no-fee way to earn cashback on daily purchases. Cardholders earn up to 5% rebates on dining and 3% on groceries, land transport, recurring electricity bills, telco bills streaming services and electric vehicle charging stations. There are no merchant restrictions (unlike competitors) and rewards are capped in two tiers at S$80/month with a minimum spend of S$800 per month or S$160 with a minimum spend of S$1,600 per month.

Another perk is that cardholders can enjoy a fee waiver with S$10,000 annual spend – that’s just S$833/month. This spend level also meets minimum spend requirements, ensuring top rewards rates. Overall, OCBC 365 Card is definitely one of the best everyday options with a fee-waiver.

UOB Absolute Cashback Card offers 1.7% limitless cashback, one of the highest for unlimited cashback cards, with no minimum spend and no exclusions.

While a cashback rate of 1.7% isn’t as high as other cashback cards on the market, higher rates often come with monthly caps. What makes this card unique is that you can actually earn cashback on all spend, even on categories often excluded by other cards, such as: insurance payments, school feels, medical bills and rental payments. Wallet top-ups, utilities and telco bills spend will also earn cashback.

Individuals spending about S$7,000+/month can truly maximise their earnings with Citibank Cash Back+ Card. Cardholders earn an unlimited 1.6% cashback on all spend, regardless of spending category which is higher than the 1.5% offered by most competitors. In most cases, consumers with very large budgets end up feeling restricted by typical capped rewards cards. With Citi Cash Back+, however, affluent cardholders can continue to earn on all of their spend, up to their full rewards potential.

Standard Chartered Simply Cash Credit Card not only rewards 1.5% cashback on all spend, but also offers notably high petrol savings rates. Cardholders earn up to 24.5% fuel savings with Caltex. Standard Chartered Simply Cash Credit Card also offers a 0% interest Instalment plan with select merchants such as Apple and Gain City which can be very useful when purchasing big ticket items. It’s worth pointing out that unlimited cards are best for high spenders because there’s no earnings cap. SC Unlimited Cashback Cardholders would need to spend at least S$7,000+/month for rewards to become competitive. This is simply because alternative cards that do have caps tend to have higher rewards rates.

CIMB Visa Infinite Card offers higher unlimited cashback for overseas and travel spend than any other card on the market, plus a few perks that are usually associated with travel cards. With a monthly spend of S$2,000, consumers earn an unlimited 2% cashback on travel (hotels, airlines, travel agencies), overseas and online spend in foreign currencies. All other spend earns an unlimited 1% cashback with no minimum requirement. Even better, the card is free forever with no annual fees.

Extra perks include lounge access, discounted limo transfers and airport dining–rarely offered by cashback cards. If you’re a frequent traveller with high overseas spend and prefer cashback to miles, CIMB Visa Infinite Card is the best option for you. However, to qualify for the CIMB Visa Infinite card, you will need to earn an annual income of S$120,000.

The DBS Live Fresh Cardallows cardholders can earn up to 6% cashback on their shopping (both online and retail) as well as transport spend. There’s a S$800 minimum spend requirement to access these rates, and cashback is capped at S$50 for shopping spend and S$20 for transport spend per month. But given the rewards structure, it’s possible to earn cashback on nearly all purchases. The DBS Live Fresh Card gives cardholders the best of both worlds by allow them to earn high cashback rates on their high spend categories of shopping and transport while also enjoying uncapped cashback on their general spend. Finally, DBS Live Fresh Card is SimplyGo compatible, adding to its overall convenience.

CIMB Visa Signature Card is definitely worth considering if you’re seeking rebates on both groceries as well as select discretionary spend, all without an annual fee. Spend on groceries, online shopping, beauty, petcare and cruise lines all earn 10% cashback, up to S$20/month per category, with total cashback capped at S$100/month. In fact, this card is especially great for consumers with pets, as most credit cards reward this category at base rates as low as 0.3% cashback.

In order to access these rates, cardholders must reach a S$800 minimum spend, which is in-line with market standards. And, while the categories are quite unique, CIMB Visa Signature Card is still worth considering–even if you spend on them irregularly–as there’s no annual fee.

UOB EVOL Card offers an excellent way to earn cashback on a wide variety of spend. Cardholders who reach the S$600 minimum spend requirement earn 8% cashback on two broad categories: any purchases made online and any purchases made with contactless pay apps such as Apple Pay and Google Pay.

This versatility makes UOB EVOL Card a great choice for just about any type of spend, including entertainment expenses. Cardholders are able to earn up to S$60 in monthly rebates, split across the three categories of online, contactless and general spend. An annual fee of S$196.20 is waived in the first year, and can be avoided later on by making at least 3 transactions with your UOB EVOL Card every month for 12 months.

CIMB World MasterCard is the best cashback card for social high spenders on the market, and never charges an annual fee. Cardholders earn 1% unlimited cashback on all spend, which is slightly lower than similar cards. However, CIMB World Card offers a boosted 2% rate for spend on leisure, including wine & dine (including food deliveries), movies & digital entertainment, taxi & automobile and luxury goods with a minimum monthly spending of S$1,000.

In addition to allowing consumers to earn up to their full rewards potential, CIMB World also provides perks like free lounge access and up to 50% off green fees at 42 golf courses across the region. This makes the card a great option for those who frequently spend on luxury hobbies and entertainment as these categories rarely, if ever, earn you upsized cashback with other comparable cards on the market.

A cashback credit card is a credit card that gives you a percentage of your spend back in cash, credited to your card. Some cashback cards will credit your account with cashback for your monthly purchases allowing you to choose which purchases to use that credit on, while others will credit your account automatically.

If your cashback credit card offers 5% cashback on all spend, then spending S$200 will earn you a S$10 credit on your card. However, it is important to keep in mind that most cards have a cap on how much cashback you can earn per month, quarter or year, as well as a minimum required spend per month to qualify for cashback. That is why selecting the right credit card for your spending profile is so crucial.

A cashback credit card is worth it if you are able to pay off your monthly credit card balance. Otherwise the cashback you will earn on your purchases will be outweighed by the interest you will have to pay on your balance.

The biggest difference between cashback, points, and miles is the flexibility they provide to consumers. While similar, they each have distinct characteristics.

Cashback rewards are perhaps the most flexible. When you make purchases on a cashback card, a designated percent of that spend value is returned to your account, often to offset your monthly bill. For example, 5% cashback on a S$100 eligible purchase means S$5 are credited back to your account.

Points rewards are also fairly flexible, because they can usually be redeemed for merchandise vouchers, air miles, or even cash credits. Every card issuer’s rewards system is a little different, so it’s worth checking out the terms and conditions for details. A benefit of points systems is that they are often paired with coupons and discounts with popular merchants. A drawback, however, is that converting points to miles often incurs an administrative fee.

Miles rewards are the least flexible, but can be more valuable to frequent travellers than points or cashback. Occassionaly, miles earned by spend on the card are directly transferred to the cardholder’s frequent flyer airline account. This means cardholders don’t need to worry about conversion fees or the hassle of manual transfers. In terms of value, 1 mile often equals between S$0.01 to S$0.08 in value-to-consumer.

To determine which type of credit card is best for you, it’s important to understand how much value they’ll ultimately provide–how much money do you get back for the amount you spend? While comparing cashback to cashback or miles to miles is fairly easy, it can be difficult when you want to compare cashback rewards to miles rewards.

To figure out a credit card’s rewards rate, you first need to determine the worth of its miles or points. How many points (or miles) are needed to redeem a certain prize? Divide the dollar value of that prize by the number of points needed for redemption. This tells you the dollar value per point. Next, multiply this value by the number of points earned for every S$100 spent to determine the rewards rate. We have collected data to calculate value of miles, which generally range from 1 cent to 8 cents per mile. Value of points will differ depending on the issuing bank’s policies.

Finally, each card offers differently structured reward programs. For example, some cards will rebate 10% on dining, but will only yield 0.2% on other expenses. By understanding how your own monthly expenses are generally distributed across different categories, you can better calculate how much money you can save by using a card.

This analysis can help you accurately evaluate which card will result in the highest benefits for your budget.

The value of credit card rewards depends on how much effort you are willing to put in to redeem them, and how likely you will be to apply them. For example, while frequent travellers may be interested in points or miles rewards cards, those who don’t want to deal with the hassle of conversions or who are less likely to travel may prefer cashback. In fact, cash rebates are usually automatically applied to the next monthly statement, with no action required by the cardholder. Cashback is low-maintenance and worry-free, so if you’re looking for rewards that are easy and straightforward, cashback may be the best option for you.