The best cashback credit cards in Singapore help you save money on your daily spending in a convenient and easy way.
Cashback credit cards offer perhaps the most straightforward type of reward for consumers. Simply charge your spend to a cashback card, and you automatically receive a rebate off your purchase as cashback. This will be in the form of credit given back to you in your next monthly credit card statement.
What should I look out for in a cashback credit card?
Cashback is usually awarded on specific categories such as dining, online shopping, groceries and transport so the first thing is to know your monthly spending habits and get the right cashback credit card for you.
In addition, some cards come with pretty extensive terms and conditions. These include:
- monthly cap on cashback you can receive per month
- monthly minimum spend before you qualify for advertised cashback rate
- different cashback rates based on week day or weekend spend
- specific merchant partners such as specific petrol chains (eg Caltex) or supermarket chains (eg Cold Storage)
To help you compare and apply for the best cashback credit cards and maximise your savings, we present our top 6 recommended cashback cards for 2020.
| | |||
| Best For | Cashback Rate | Fee Waiver | |
| Citi Cash Back + | Spending across different categories | ∙ 1.6% cashback on all spend | 1-year fee annual waiver |
| Standard Chartered Unlimited | Spending across different categories | ∙ 1.5% cashback on all spend | 2-year annual fee waiver |
| Citi Cash Back | Groceries, Dining and petrol | ∙ 8% cashback on grocery, dining and petrol | 1-year fee annual waiver |
| OCBC 365 | All-round savings | ∙ 6% cashback on dining and online food delivery ∙ 3% cashback on groceries, land transport, utilities and online travel ∙ 5% on fuel spend | 2-year fee waiver |
| CIMB Visa Signature | All-round spending | ∙ 10% cashback on grocery, online spending, beauty and wellness, pet shops and veterinary services, cruises | No fees for life |
| UOB YOLO | ∙ Partying ∙ Dining out ∙ Online Shopping ∙ Entertainment | ∙ 8% for weekend spend on dining, entertainment, and Grab ∙ 3% cashback on weekday spend including online fashion and travel | 1-year fee waiver |
This table was last updated on 18 May 2020. Credit card offers are subject to changes at any given time.
1. Citi Cash Back+ Card: Best for spending across different categories
Looking for a simple way to earn cashback without having to constantly keep track of your minimum spend or cashback cap? Then the Citi Cash Back+ Card might just be the one cashback card for you.
The Citi Cash Back+ Card takes the hassle out of trying to optimise your monthly spending for the different categories, just to earn cashback. This means, you will be earning cashback regardless of how much you spend and where you spend it (even if it just $10 at the nearby supermarket). Not to mention, the cashback you’ve earned can be easily redeemed through SMS and does not ever expire!
Qualifying Criteria and Card Fees
| Singaporeans/PR | Foreigners | Annual fee | Fee Waiver | Effective Interest Rate |
| 21 yrs and above S$30,000 minimum annual income | 21 yrs and above S$42,000 minimum annual income | S$192.60 | 1 year | 26.9% per annum |
Why we love this card:
- No minimum spend and no monthly cap
- Earn cashback on all spend
- Cashback earned does not expire
But do take note:
- Cashback at 1.6%
Apply for this card if you: If you want a simple cashback card that gives you a competitive cashback rate on all spend without being subjected to a minimum spend criteria. You can also read our review here.
SingSaver promotion: New Citibank cardholders get $200 cash via PayNow when you activate the new card and make a qualifying spend transaction of any amount. Existing Citibank cardholders get $30 cash via PayNow.
2. Standard Chartered Unlimited Credit Card: Best for spending across different categories
The drawback of most cashback cards is the limit on rebates you can earn each month. But not with the Standard Chartered Unlimited Credit Card. This card makes a good alternative to the Citi Cash Back+ card.
This cashback credit card comes with no monthly cap and no minimum spend required. This means you’ll earn cashback from the very first dollar you charge.
The cashback clocks in at 1.5%, which at first glance may not seem terribly enticing. But if you spend a lot, your savings add up right before your eyes. Use this card for large-ticket items and you’ll big, especially since there’s no cashback cap. This means that a S$10,000 purchase will save you a whopping S$150 in cashback!
However, be sure to always pay off your credit card in full each month to avoid the high interest charges. Alternatively, use a low-EIR balance transfer to manage your repayment (instead of 0% instalment plans which give you 0 rewards).
Qualifying Criteria and Card Fees
| Singaporeans/PR | Foreigners | Annual Fee | Fee Waiver | Effective Interest Rate |
| 21 to 65 years old S$30,000 minimum annual income | 21 to 65 years old S$60,000 minimum annual income, with valid employment pass | S$192.60 (GST included) | 2 years | 25.9% per annum |
Why we love this card:
- No minimum spend and no monthly cap
- Earn cashback on all spends
- Doubles up as EZ-link card
But do take note:
- Cashback at 1.5%
Apply for this card if you: Value convenience over having to keep track of spending categories, or charge a significant amount to your credit card every month. You can also read our review here.
SingSaver Promotion: Free Wireless Earbuds!
Get a Jabra Elite Active 75t wireless earbuds (worth $318) for free, when you apply by 31 July 2020 for a Standard Chartered credit card! To be eligible for this promotion, you will have to be a new Standard Chartered Bank cardholder. If you already have a Standard Chartered credit card, you will still be rewarded with $50 GrabFood Vouchers when you sign up.
3. Citi Cash Back Visa Card: Best for groceries, dining and petrol
If you bring the family out for dining and grocery shopping, the Citi Cash Back card (not to be confused with the Citi Cash Back+ card) is a good cashback credit card to have in your wallet.
It comes with a generous 8% cashback at virtually every stop of your trip, be it at your neighbourhood supermarket or your favourite eatery. But you’ll need to spend a monthly minimum spend of S$888 per month to earn cashback.
Cashback amounts are also capped at S$25 per category per month (dining, groceries, and petrol) but this can already save you S$75 each month.
Qualifying criteria and card fees
| Singaporeans/PR | Foreigners | Annual fee | Fee Waiver | Effective Interest Rate |
| 21 yrs and above S$30,000 minimum annual income | 21 yrs and above S$42,000 minimum annual income | S$192.60 | 1 year | 26.9% per annum |
Why we love this card:
- High cashback of 8% on three common spending criteria – dining, groceries, and petrol
- High potential monthly savings of up to S$75
- Card can be used for ERP payments
But do take note:
- Monthly minimum spend of S$888 to earn cashback
- Category cashback cap of S$25 per month
Get this card if you: Consistently spend on groceries, dining and petrol costs.
SingSaver promotion: New Citibank cardholders get $200 cash via PayNow when you activate the new card and make a qualifying spend transaction of any amount. Existing Citibank cardholders get $30 cash via PayNow.
4. OCBC 365 Credit Card: Best for all-round savings
The OCBC 365 Card is one of our favourite cashback credit cards for all-round savings.
Enjoy 6% cashback on dining and online food delivery all week, and 3% cashback on on groceries, land transport, utilities and online travel. If you drive, the OCBC 365 Card offers amazing cashback of 5% on fuel spend at all petrol service stations and up to 23% savings at Caltex.
However, there’s a downside: the monthly minimum spending is S$800, otherwise, your cashback rate is only 0.3%.
Qualifying Criteria and Card Fees
| Singaporeans/PR | Foreigners | Annual Fee | Fee Waiver | Effective Interest Rate |
| Minimum of 21 years old S$30,000 minimum annual income | At least 21 years old S$45,000 minimum annual income | S$192.60 | 2 years | 26.88% per annum |
Why we love this card:
- 6% cashback on dining and online food delivery
- 3% cashback on groceries, land transport, online travel, and utilities
- Cashback eligible spending categories are now more relevant than ever, and cover worldwide transactions
But do take note:
- Minimum spend of S$800 per month to enjoy cashback
- Monthly cashback cap of S$80 per month
Apply for this card if you: Drive often and want to save across a wide variety of transactions common to your lifestyle.
SingSaver promotion: Get S$100 GrabFood vouchers upon approval for new OCBC credit cardholders. Existing OCBC credit cardholders that apply for this card will still receive $50 GrabFood vouchers upon spend.
5. CIMB Visa Signature Card: Best for all-round spending
CIMB Visa Signature Card is the newest kid on the block to offer one of the highest headline cashback rates. Cardholders can expect to earn a cashback rate of up to 10% across categories like beauty and wellness, online shopping, grocery, pet shops and veterinary services and cruises.
At a time when we are spending most of our time at home, the 10% cashback on online shopping and groceries comes in handy. This 10% cashback applies to not just in-store grocery spend, but also on groceries bought online.
Additionally, this card is compatible with SimplyGo, fitting right into your wallet as an EZ-Link card.
Qualifying Criteria and Card Fees
| Singaporeans/PR | Foreigners | Annual fee | Fee waiver | Effective Interest Rate |
| 21 yrs and above: S$30,000 min. annual income OR 55 years and above: S$15,000 min. annual income OR S$10,000 fixed deposit collateral (if you do not meet the minimum income requirement) | 21 yrs and above and S$40,000 minimum annual income OR S$10,000 fixed deposit collateral | S$192.60 | For life | 25.5% per annum |
Why we love this card:
- High cashback of 10% for multiple categories
- No annual fees for life
- $80 cash credit signup promotion
- $50 cash via PayNow (SingSaver exclusive promotion)
But do take note:
- Minimum spend of S$800 per month to enjoy cashback
- $20 cashback cap per category
Apply for this card if you: Like to have a fuss-free card for all-round spending, particularly for groceries, beauty and wellness, online shopping, and veterinary services.
6. UOB YOLO Card: Best for the party crowd
The UOB YOLO Card is best for busy millennials who often dine or hang out with friends and use Grab for their frequent commutes. Enjoy upsized cashback of 8% on weekend spending, including dining, online shopping, and entertainment.
Qualifying Criteria and Card Fees
| Singaporeans/PR | Foreigners | Annual fee | Fee waiver | Effective Interest Rate |
| 21 yrs and above with S$30,000 minimum annual income OR S$10,000 fixed deposit collateral | 21 yrs and above and S$40,000 minimum annual income OR S$10,000 fixed deposit collateral | S$192.60 | 1 year | 25.9% per annum |
Why we love this card:
- High cashback of 8% for weekend spend on dining, entertainment, and Grab
- 3% cashback on weekday spend including online fashion and travel
But do take note:
- Minimum spend of S$600 per month to enjoy cashback
- Non-promo cashback cap at S$60 per month
Apply for this card if you: Like to club, dine out, have brunch, cafe-hop, and watch movies (especially on weekends).
Compare and apply for the best cashback credit cards on SingSaver
If you’re looking for a good cashback card to help you save on everything from groceries, to petrol, to transport, be sure to apply through SingSaver to maximise your welcome rewards with exclusive sign-up bonuses (and this is on top of the bank’s own rewards!). Use SingSaver’s free online comparison tool to compare the best cashback credit cards in Singapore.
Read these next:
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
Best Grocery Credit Cards in Singapore 2020
OCBC Titanium Rewards Card: One Shopping Card You’ll Want In Your Wallet
Use These 6 Credit Cards To Pay For Your Grab Rides In 2020
6 Credit Cards You Should Use as Your EZ-Link Card
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