For most spenders, there’s no better way to maximize cashback than with the UOB One Credit Card. With a flat rebate of 3.33% on all spending and an additional 6.67% (for a total of up to 10%) cashback on daily spend at Dairy Farm, Grab, Shopee, SimplyGo and more, this cashback credit card has some of the highest cashback rebates on the market.
At a spend level of S$2,000 a month, cardholders can earn up to S$200 per quarter, or S$67 per month, before factoring in the additional cashback—one of the highest potential earning rates on the market. Lower or inconsistent spenders with budgets as low as S$500 per month can also earn the flat 3.33% cashback, capped at S$50 per quarter, as well as an additional 5% cashback on their Dairy Farm, Grab, Shopee and SimplyGo expenses.
Ultimately, if you’re looking for a convenient card that rewards stable budgets with top rates, there’s no better option than the UOB One Credit Card.
UOB One Credit Card Features and Benefits
UOB One Credit Card
Maximum cashback for stable budgets.
Pros
- Good fit for budgets of at least S$2,000 per month
- Easy cashback on daily spend
- Gives rebates for paying bills
Cons
- Doesn't fit inconsistent budgets
- Annual fee
| Annual Fee: S$196.20, Waived for 1 year
Income Requirement: S$30,000 for citizens & PRs, S$40,000 for foreigners |
Key Features:
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Our Evaluation: Great Cashback Rates For Consistent Spenders
We think that one of the best things about UOB One Credit Card is that it earns a relatively high cashback rate on just about any purchase you make with it. Although it does exclude certain types of expenses like bank fees and payment app transactions, most everyday purchases will earn some cashback with UOB One Card. On top of the high base cashback, it also offers many opportunities to boost your rewards by buying from certain merchants.
The UOB One Card is indeed one of the best cashback credit cards in Singapore for those with consistent spending. Offering cash rebates which increase with your total expenditure, it could be a good choice for high and consistent spenders to consider the UOB One Card.
| Low Spend | Medium Spend | High Spend | |
|---|---|---|---|
| Minimum Monthly Spend | S$500 | S$1,000 | S$2,000 |
| Minimum Spend for Quarter | S$1,500 | S$3,000 | S$6,000 |
| Rebate Rate | 3.33% | 3.33% | 3.33% |
| Rebate Earned | S$50 | S$100 | S$200 |
The way the UOB One Card’s rebate scheme works is unique and fits best for people whose monthly spending is consistent. Cardholders earn one of three cashback amounts, S$50, S$100 or S$200, based on their lowest monthly spend within a quarter. Those who spend at least S$2,000 each month and charge at least five transactions to their card earn the maximum S$200 cashback for that quarter, equal to up to 3.33% flat cashback on all purchases or S$800 in savings over a full year. This high cashback rebate makes the card worth considering.
To optimize your cashback from the UOB One Card, you must meet two criteria: reach the minimum monthly spend that is closest to your typical budget and use the card at least five times per month. Apart from the quarterly cashback, you can also earn bonus cashback, capped at S$100 per month, with select partners: up to an additional 6.67% for Dairy Farm Singapore, Grab, Shopee, SimplyGo, and select UOB Travel transactions (10% cashback in total) and 1% on Singapore Power bills.
| Spending Categories | Merchants | Bonus Cashback Earned | |
|---|---|---|---|
| Dining | McDonald’s |
An additional 5% (up to 8.33%) cashback for cardholders to spend a minimum of S$50 or S$100 a month |
An additional 6.67% (up to 10%) cashback for cardholders to spend a minimum of S$200 a month |
| Groceries | DFI Retail Group (such as Cold Storage, CS Fresh, Giant, Guardian, 7-Eleven, Marketplace, Jasons, Jasons Deli) | ||
| Transport | Grab (excludes mobile wallet top-ups), SimplyGo (bus and train rides) | ||
| Shopping | Shopee Singapore transactions (excludes ShopeePay) | ||
| Travel | UOB Travel (excludes online and flight only bookings | ||
UOB One Card is not as good if your monthly spending varies a lot or falls too far away from the monthly minimums of S$500, S$1,000 and S$2,000. Because your cashback is based on the lowest monthly spend of the quarter, spending less than these figures, even just for one month, reduces your cashback rate significantly.
The closer your lowest monthly spend gets to the next tier, the more cashback you will miss out on until you reach that tier. For instance, spending just S$1 less than S$2,000 in any one month drops a cardholder’s rebate from S$200 to S$100 for the whole quarter. The monthly cap on rebates doesn’t exist for unlimited cashback cards like the Citi Cash Back+ Credit Card.
Citi Cash Back+ Card
Citi Cash Back+ Card offers one of the highest unlimited flat cashback rate of 1.6% on all expenditures in Singapore and abroad, making it ideal for high-spenders looking to maximize their rewards on all spend with no limits.
Pros
- Affluent consumers spending S$7k+/mo
- People interested in an easy-to-use flat rate card
- Those looking to avoid spend requirements or rewards caps
Cons
- Average or lower spenders looking to maximise rewards
- Those with specialised spend (i.e. dining, shopping)
- Consumer looking to avoid an annual fee
Ultimately, UOB One Card is best for average consumers with a stable monthly spend of just over S$2,000. While the annual fee of S$196.20 is only waived the first year, the rebate potential of UOB One Card offers an easy way to quickly and conveniently recoup the cost. This card is a great fit if you’re more concerned with saving money than with miles, rewards, or vouchers.
How the UOB One Credit Card Rewards Program Works
- Every 1 dollar of cashback earned is equal to S$1
- Cash rebate is credited to the cardholder’s account 1 month after the end of each quarter
- Cash rebate earned must be used to offset future transactions
- Cashback is automatically forfeited and is non-transferable when an account is closed
Before You Apply, Keep in Mind Rebate Caps and Limitations
While we consider UOB One Credit Card to be stronger than many other credit cards in Singapore, it does carry some limitations that you should keep in mind. First, know that this card’s system gives you the cashback in quarterly installments, which means you’ll only see the benefit appear in your account four times a year as opposed to every month.
UOB One Credit Card
Maximum cashback for stable budgets.
Pros
- Good fit for budgets of at least S$2,000 per month
- Easy cashback on daily spend
- Gives rebates for paying bills
Cons
- Doesn't fit inconsistent budgets
- Annual fee
Second, the fixed cashback amounts that you can earn each quarter max out at S$200, which is unlocked by spending S$2,000 and making at least 5 transactions each month. Since there’s no added bonus for spending more than that, it’s a good idea to start using a different card once you’ve reached the monthly spend requirement on UOB One Card.
Put together, these terms and conditions mean that UOB One Credit Card is best-suited to people who naturally tend to spend the same amount month after month. Consistent spending will make it easier to hit the monthly spend requirements.
Finally, remember that any cashback that you earn using UOB One Credit Card is applied forward: in other words, the cashback only offsets future spending and will not apply as statement credit on the spending that originally generated the cashback.
If you don’t think the UOB One Credit Card is the right fit for you, explore other credit card offerings over at our credit card results page.
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