Get more out of your monthly expenses by paying your bills with these cashback and rewards credit cards.
Paying utility bills and mobile phone bills forms the standard fixture of our monthly expenditure – which you can use to your advantage. Since you already know how much you expect to spend every month, you can plan ahead to maximise cashback or rewards every time you charge a bill to a credit card.
Think of it as money going out, but you’re earning something in return each time. Here are six credit cards in Singapore that help you maximise your spend on monthly utility and telco bills at the same time.
Best Credit Cards For Paying Utility Bills
Min. spend needed
Monthly cashback cap
Singtel, M1, StarHub, Circles.Life and MyRepublic.
$800/month (less gets flat 0.3% cashback)
Get up to 6% rebate your Singapore Power Utilities bills when you qualify for your quarterly cash rebate
$500/month (min. 5 card transactions) for the quarter
$50/$100/$300 per quarter for $500/$1,000/$2,000 monthly spend
Power service providers like Geneco, iSwitch, Union Power, SP Group (including Best Electricity, Ohm Energy and Tuas Power) and StarHub
Up to 8%
Starhub, Singtel, M1 Limited, Circles.Life, MyRepublic, Netflix
$800/month to qualify for 8% cashback
1. OCBC 365 Credit Card
The OCBC 365 Credit Card gives you a decent 3% rebate which covers multiple telcos – Singtel, StarHub, M1, Circles.Life and MyRepublic – as well as power service providers such as Senoko Energy, Sembcorp Power, and Geneco. But you’ll need to charge a minimum of S$800 per month on your card to qualify. Otherwise, the cashback rate falls to a measly 0.3%. S$800 a month is achievable by consolidating all your utility and telco bills on this card.
Note the rebate is capped at S$80 a month but this still comes up to a hefty S$960 per year. Besides monthly utility bills, also earn 6% rebates on dining and online delivery, 3% on grocery shopping and online groceries and 5% on fuel charges (both local and overseas spending apply for dining, grocery shopping, and fuel charges).
SingSaver promotion: Get S$100 GrabFood vouchers upon approval for new OCBC credit cardholders when you apply for the OCBC 365 credit card by 15 January 2021. Existing OCBC credit cardmembers who apply for this card will still receive $50 GrabFood vouchers if you are the first 1,000 existing OCBC cardmembers to spend at least $300 on the card by the end of the next month following card approval date.
2. UOB One Card
The UOB One Card gives you one of the highest utility rebate at 3.3%. However, this comes with a high spending bar — Spend a minimum of $2,000 per month for 3 consecutive months to earn the additional 5% cash rebate. Do note that the cash rebates only come every quarter.
You will also get an additional 1% rebate (up to 6% rebate) on your Singapore Power Utilities bills when you qualify for your quarterly cash rebate.
Enjoy an additional 5% rebate on Dairy Farm Group Singapore merchants (e.g. Cold Storage, Giant, Guardian, 7-Eleven), Grab (excludes mobile wallet top-ups) and UOB Travel transactions when you qualify for your quarterly cash rebate.
SingSaver Promotion: Get $150 cash credit when you apply as a new UOB cardmember and make a minimum spend of $1,500. This promotion is valid for the first 200 new UOB cardmembers from now till 31 December 2020.
3. POSB Everyday Card
The POSB Everyday Card earns you 1% rebate on recurring utility bills from StarHub, Geneco, iSwitch, and Union Power, as well as the SP Group (Best Electricity, Ohm Energy and Tuas Power are engaging SP Group for its billing services). Starhub users will also get 1% cash rebate on your recurring mobile/ digital cable/ broadband bills and in-store purchases.
The big plus about this card? No minimum monthly spend required. But take note no cash rebates will be awarded beyond the maximum spend of $100 per month.
4. Maybank Family & Friends Card
5% cashback for S500 minimum monthly spend—that’s how low a hurdle you’d have to cross for such rates. This versatile card can go even higher: 8% cashback for S$800 minimum monthly spend. One thing that sets this card apart from the others is that you enjoy it on online TV streaming on top of the usual internet and telco bills. You won’t do your family and friends wrong if they, too, want to cut back on utilities while Netflix-ing in peace.
SingSaver promotion for Maybank credit cards: From now till 31 March 2021, get $100 cash credit when you apply for one of seven participating Maybank credit cards (for new Maybank cardmembers only). To earn this reward, you will have to spend a minimum of $250 qualifying spend each month for two consecutive months upon card approval. More details here.
5. Standard Chartered Unlimited Cashback Credit Card
Like its slogan, “the card that lets you live without limits”, the Standard Chartered Unlimited Cashback Credit Card truly lives up to its name.
This card certainly makes life simpler (and cheaper): earn 1.5% rebate on all expenditure, period. No minimum spend required. No restriction on telco or power service provider you’re signed up to.
Other perks include generous discounts on a wide range of dining, travel, hotel bookings and entertainment. We also wrote about this card as being a simple, fuss-free cash back card.
Standard Chartered’s instant credit card approval is also a great perk – receive your digital card instantly when you apply with MyInfo.
SingSaver Promotion: Receive a Garmin Venu Sq Watch (worth $299) or a set of Apple AirPods with Charging Case (worth $239), when you apply for the Standard Chartered Unlimited or Standard Chartered Rewards+ credit card!
To be eligible for this promotion, you’ll have to be a new Standard Chartered Bank cardholder and activate your new card within the first 30 days of card approval. Also, a min. spend of $80 is required. If you already have a Standard Chartered credit card, you’ll be rewarded with $30 cash via PayNow when you sign up. Promotion is valid till 10 January 2021, T&Cs apply.
6. American Express True Cashback Card
Like the Standard Chartered Unlimited Cashback Credit Card, the American Express True Cashback Card is a fuss-free cash back credit card that rewards you with a flat 1.5% cashback on all your spending.
What sets the American Express True Cashback Card apart from the Standard Chartered Unlimited Cashback Credit Card then?
As a sweet welcome bonus for new American Express cardmembers, American Express is throwing in a welcome bonus of 3% cashback on up to a total of $5,000 spend in your first 6 months. This simply means you get to earn double cashback on the first $5,000 of your spending within 6 months of card approval!
Additionally, from now till 30 June 2021, you get to earn additional cashback on your foreign currency spend. All you need to do is register your card annually to enjoy the extra 1% cashback on your foreign currency purchases.
Welcome Offer: Enjoy $160 cash via PayNow when you apply and make a min. spend of $500 within your first month of card approval. Valid till 31 January 2021. T&Cs apply.
When choosing the right credit card for you, be holistic. Don’t just consider the card’s rebate rate – also ask yourself questions like:
Can you meet the minimum monthly spend?
How likely are you to hit the rebate cap?
Does the card provide access to other retail perks and discounts?
For example, if you’re splitting your expenses between cards and are unlikely to reach the minimum $800 per month spend for the OCBC 365 Credit Card, you may be better off with the Standard Chartered Unlimited Cashback Credit Card, despite its lower cashback rates.
Similarly, the high rebate of up to 6% for the UOB One Card is only if you can spend $2,000 on your card each month. This means you have to be prepared to spend a much higher amount each month to earn your cashback.
Read these next:
6 Credit Cards You Can Use As Your EZ-Link Card
Best Grocery Credit Cards in Singapore
6 Credit Cards That Give Free Access To Airport Lounges
Top Credit Card Promotions And Deals On SingSaver
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
By Zann Huang
A recipient of the Magnum Foundation Emergency Grant in 2014, my photos from the Middle East and Asia have also been published in Time Magazine and Le Monde etc. My written work ranges from travel, politics (Mid-East) to the environment and finance-related matters.
The post Best Credit Cards for Paying Utility Bills in Singapore appeared first on SingSaver Blog - We Compare, You Save.