POSB Everyday Card – MoneySmart Review 2022

·7-min read

The POSB Everyday Card looks like a plain ol’ auntie card, but don’t be fooled by its ho hum exterior. It’s actually one of the best cashback credit cards for cash rebates at Sheng Siong and Watsons.

That’s because it’s one of the few cashback credit cards with no minimum spend requirement. The cash rebates are surprisingly decent, and for some categories there isn’t even a cap.

As someone who refuses to let my credit card dictate my monthly spending habits, I completely approve. Here’s a closer look at the POSB Everyday Card to see if it is the one for you.

POSB Everyday Card terms & conditions

POSB Everyday Card

Annual fee & waiver

$192.60 (waived for 1 year)

Supplementary annual fee

$96.30

Interest free period

25 days

Annual interest rate

26.80%

Late payment fee

$100, if outstanding balance is above $50

Minimum monthly repayment

3% or $50, whichever is higher

Foreign currency transaction fee

3.25%

Cash advance transaction fee

8% or $15, whichever is higher

Overlimit fee

$40

Minimum income

$30,000 (Singaporean/PR) / $45,000 (non-Singaporean)

Card association

MasterCard

Wireless payment

MasterCard PayPass

POSB logo
POSB logo

Online Promo

Earn Cash Rebates that Never Expire

POSB Everyday Card

Cash rebates on food delivery

Up to 10%

Cash Rebates on Utilities and Telecommunications bill payments

Up to 3%

Fuel Savings at SPC

Up to 21.8%

Online Promo:

Get powered up with up to 18% cashback when you apply online for a DBS/POSB Credit Card with the promo code “MORECASH”. Valid till 31 Jan 2022.


Valid until 31 Jan 2022

Read More

More Details

Key Features

  • No minimum spend

  • Base cashback rate: 0.3% POSB Daily$ rebate for all purchases

  • Activate SimplyGo to use your card as an EZ-Link card. SimplyGo charges MRT and bus fares to your credit card, eliminating the need for auto top-ups

  • Link the POSB Everyday Card to your DBS or POSB Savings or Current account to use card at ATM

See all card details

How the POSB Everyday Card works

The POSB Everyday Card probably owes its auntie reputation to its key bonus rebates for Sheng Siong and Redmart, where you can earn 5% and 8% cashback respectively.

The POSB Everyday Card is also one of the rare credit cards that let you get cashback on your utilities and telco bills. Electricity retailer bills qualify too! Sure it’s only 1%, but better than nothing right?

Also, the cash rebates never expire. So you can make full use of them to offset purchases at over 200 partner outlets and via the DBS Lifestyle app.

POSB logo
POSB logo

Online Promo

Earn Cash Rebates that Never Expire

POSB Everyday Card

Cash rebates on food delivery

Up to 10%

Cash Rebates on Utilities and Telecommunications bill payments

Up to 3%

Fuel Savings at SPC

Up to 21.8%

Online Promo:

Get powered up with up to 18% cashback when you apply online for a DBS/POSB Credit Card with the promo code “MORECASH”. Valid till 31 Jan 2022.


Valid until 31 Jan 2022

Read More

More Details

Key Features

  • No minimum spend

  • Base cashback rate: 0.3% POSB Daily$ rebate for all purchases

  • Activate SimplyGo to use your card as an EZ-Link card. SimplyGo charges MRT and bus fares to your credit card, eliminating the need for auto top-ups

  • Link the POSB Everyday Card to your DBS or POSB Savings or Current account to use card at ATM

See all card details

Who should use the POSB Everyday Card?

There are some credit cards that are for atas people who drive Aston Martins and drink black truffle lattes. Not this card. The POSB Everyday Card is for average Singaporeans who eat cai png, not “protein bowls” from Saladstop or similar shops.

In short, it’s best for thrifty Singaporeans who don’t mind doing their shopping for necessities at Sheng Siong and Redmart. You get a pretty decent cashback of 5% to 8% on these everyday items without any pressure to spend.

Additionally, because there’s no cashback cap for petrol, it’s great for those who spend a lot on petrol, like sales agents or those who need to drive around a lot for work. Get 6% cash rebate on the final charge amount, after any other applicable discounts).

(Those with a Private Hire Car Driver’s Vocational License (PDVL) are better off with the newly introduced Esso Private Hire Smiles Card instead. Read more about the 3 best credit cards for petrol here.)

Alternatives to the POSB Everyday Card

This isn’t the only credit card targeting Singaporeans on a budget. Far from it. Let’s check out what others are on the market that offer all-round cashback with low minimum spends:

Citibank Cashback+ Mastercard – Yay, another credit card with no minimum spend! This one is a fuss-free credit card with a flat 1.6% cashback across most categories, but it doesn’t include utilities or telco bills.

Citibank logo
Citibank logo

MoneySmart Exclusive

No Expiry on Cash Back Earned

Citi Cash Back+ Mastercard®

Cash Back on Eligible Spend

1.6%

Min. Spend per month

S$0

Cash Back Cap

Unlimited

MoneySmart Exclusive:

Apply and spend $500 to get $350 Cash via PayNow OR an Apple AirPods Gen 3 + $200 Cash via PayNow (worth $469) OR an Apple Watch SE (worth $419)! Only with Citi Credit Cards. T&Cs apply.

Valid until 30 Nov 2021

Apply Now

More Details

Cash Back Features

  • Flat 1.6% cashback on all your purchases, no minimum spend

  • No caps on the cashback you can earn, and cashback earned does not expire

  • Cashback earned will be stored and specified in the monthly statement

  • Redeem your cashback with the Citi Pay with Points feature via Citibank Online or the Citi Mobile App or SMS. Redemption requires 7 working days before it’s reflected on your statement

  • Cash rebates redemption: Send “RWDS last 4 digits of the card number ” to 72484 via SMS

  • Redemption values and codes: CSHBK10 for S$10, CSHBK20 for S$20, and CSHBK50 for S$50

  • For example, to redeem $10 cash rebate, the SMS should be: “RWDS XXXX CSHBK10”

  • General exclusions apply, for e.g. annual fees, instalments, bills, payments to educational, governmental, and financial institutions, insurance premiums, and more

See all card details

UOB Absolute Cashback card – This card has the highest unlimited cashback in the market. at 1.7%. It also has no minimum spend and no spend exclusions, so you can use this card to pay your bills and insurance premiums. But, and this is a very big but — it’s an Amex card, so smaller merchants might not accept it.

UOB logo
UOB logo

MoneySmart Exclusive

UOB Absolute Cashback Card

1.7%

Min. Spend per month

$0

Spend Exclusions

No

MoneySmart Exclusive:

Get $50 Cash via PayNow and up to 8% cash rebates from UOB when you apply and spend on your card!

Valid until 30 Nov 2021

Apply Now

More Details

See all card details

Standard Chartered Unlimited Cashback CardThis card plays second fiddle to the Citi Cashback+ Mastercard, because it’s essentially the same, but at a cashback rate of 1.5%, o.1% less.

For (many) more cashback credit card reviews, see the all-purpose and grocery cashback cards sections of our cashback cards roundup here.

Decided that the POSB Everyday Card will literally be your everyday card for daily necessities? Apply here:

POSB logo
POSB logo

Online Promo

Earn Cash Rebates that Never Expire

POSB Everyday Card

Cash rebates on food delivery

Up to 10%

Cash Rebates on Utilities and Telecommunications bill payments

Up to 3%

Fuel Savings at SPC

Up to 21.8%

Online Promo:

Get powered up with up to 18% cashback when you apply online for a DBS/POSB Credit Card with the promo code “MORECASH”. Valid till 31 Jan 2022.


Valid until 31 Jan 2022

Read More

More Details

Key Features

  • No minimum spend

  • Base cashback rate: 0.3% POSB Daily$ rebate for all purchases

  • Activate SimplyGo to use your card as an EZ-Link card. SimplyGo charges MRT and bus fares to your credit card, eliminating the need for auto top-ups

  • Link the POSB Everyday Card to your DBS or POSB Savings or Current account to use card at ATM

See all card details

What’s your favourite cashback credit card? Share it with us in the comments below.

The post POSB Everyday Card – MoneySmart Review 2022 appeared first on the MoneySmart blog.

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