In Singapore’s fast-paced financial landscape, choosing the right credit card can unlock significant rewards. With evolving 2024 trends, smart spending strategies can help you save over S$1,000 annually. Whether you shop online, manage household expenses, or travel frequently, the right choice makes a difference.
Banks are rolling out attractive promotions, like HSBC’s limited-time offer of a S$999 Dyson WashG1™ for new applicants. Our analysis of 15+ options from leading banks highlights cards with high rewards rates, flexible caps, and low spending requirements.
Families, frequent shoppers, and big spenders can find tailored solutions. For example, some cards offer up to S$466 quarterly in rewards. Time-sensitive deals, like the HSBC promo ending 30 June 2025, add urgency to your decision.
Key Takeaways
- Strategic card selection can save over S$1,000 yearly
- Limited-time promotions boost initial benefits
- Cashback rates and caps vary across options
- Tailored cards suit families, shoppers, and travelers
- Act fast—exclusive deals have expiration dates
Why Choose a Cashback Credit Card in Singapore?
Smart spending habits paired with the right financial tools can boost your savings effortlessly. These tools reward you for purchases you’d make anyway, turning daily expenses into opportunities.
How Cashback Cards Work
Rewards come in different structures. Tiered systems, like HSBC Advance’s 2.5% rate for higher spends, offer more for bigger purchases. Flat-rate options, such as UOB Absolute’s 1.7%, simplify earnings.
Timing matters too. Some programs credit rewards monthly (Amex True Cashback), while others, like POSB, operate quarterly. Check the terms conditions to align with your budget cycle.
| Card | Cycle | Minimum Spend |
|---|---|---|
| Amex True Cashback | Monthly | None |
| POSB Everyday | Quarterly | S$400/months |
| Citi Cash Back+ | Instant | S$500 |
Benefits of Using Cashback Cards
Beyond direct savings, these tools combat inflation. Maybank’s 8% grocery rebates offset rising costs. Supplementary perks like fuel discounts or ENTERTAINER app access add value.
Watch for exclusions: insurance premiums or overseas transactions often don’t qualify. But hidden advantages exist—Citi’s PayLite plan lets you split big purchases interest-free.
For example, spending S$2,000 monthly with a 5% rebate card could net S$250+ quarterly. That’s real money back in your pocket.
Best Cashback Card Singapore: Top Picks for 2024
2024 brings fresh options for those seeking value from their purchases. We’ve narrowed down three standout choices, each catering to different spending habits. Whether you prioritize flexibility, family needs, or uncapped rewards, there’s a fit for you.
HSBC Advance Credit Card: All-Around Rewards
The HSBC Advance offers a versatile cashback card with tiered rewards. Earn 2.5% on spends above S$2,000 monthly, capped at S$70. Its partnership with the ENTERTAINER app unlocks 1-for-1 dining deals—perfect for foodies.
New applicants enjoy a first-year fee waiver, and real users rate it 4.2/5 for reliability. Just remember: overseas payment and insurance often don’t qualify for rewards.
Standard Chartered Simply Cash: Unlimited Earnings
Prefer simplicity? Standard Chartered’s flat 1.5% rate jumps to 3.5% for eligible spend on groceries and transport. No caps mean big spenders keep earning. Rewards credit instantly, with no minimum spend hurdles.
One drawback: the lack of supplementary perks like HSBC’s ENTERTAINER access. But for pure, uncapped value, it’s hard to beat.
Citi Cash Back: Family-Focused Savings
Families save big with Citi’s dual rewards: 6% on groceries and 8% on fuel. A S$800 monthly minimum ensures active use, but the S$799 SingSaver sign-up bonus helps offset costs. Current users rate it 3/5, noting the annual fee isn’t waived.
| Feature | HSBC Advance | Standard Chartered | Citi Cash Back |
|---|---|---|---|
| Rate | 2.5% (over S$2k) | 1.5%–3.5% | 6%–8% |
| Cap | S$70/month | None | S$80/month |
| Annual Fee | Waived 1st year | S$194.40 | S$192.60 |
| Best For | High spenders | Uncapped rewards | Household expenses |
For example, a family spending S$1,500 monthly on groceries and fuel would earn S$90 with Citi—versus S$37.50 with HSBC Advance. Choose based on your priorities.
Best Cashback Cards for Dining and Entertainment
Dining out and entertainment expenses can quickly add up, but the right financial tools help you save while you spend. Whether you’re a foodie or a movie buff, tailored rewards turn everyday indulgences into savings.
HSBC Live+ Credit Card: Up to 8% Cashback
The HSBC Live+ rewards food lovers with an 8% rebate on dining, retail, and petrol. A S$250 quarterly cap ensures steady savings, while partner restaurants offer extra 15% discounts.
Weekend dining earns a higher *rate*—perfect for brunch plans. Plus, GV movie ticket deals sweeten the perks. Note: Rewards reset *every quarter*, so plan big *purchase*s accordingly.
OCBC 365 Credit Card: 5% Cashback on Dining
OCBC’s 365 card combines 5% dining rewards with 6% petrol savings. A S$160 monthly cap and S$800 minimum spend suit regular diners. Streaming fans enjoy rebates on Disney+ and Netflix.
Unlike HSBC’s quarterly cycle, OCBC credits rewards monthly. Weekday meals earn full value, making it ideal for workday lunches.
| Feature | HSBC Live+ | OCBC 365 |
|---|---|---|
| Dining Cashback | 8% | 5% |
| Cycle | Quarterly | Monthly |
| Cap | S$250 | S$160 |
| Minimum Spend | None | S$800 |
| Extra Perks | Movie discounts | Streaming rebates |
For example, spending S$1,000 monthly on dining with HSBC nets S$80—versus S$50 with OCBC. Choose based on your spending rhythm.
Best Cashback Cards for Groceries and Daily Essentials
Supermarket runs and utility bills can actually work in your favor with strategic planning. Specialized financial tools reward essential spending, from fresh produce to electricity bills. We compare two top choices for household budgeting.
POSB Everyday Card: Up to 10% Cashback
The POSB Everyday Card delivers targeted cashbacks where families spend most. Earn 10% on food delivery and 5% at Sheng Siong, with 3% rebates on SP Services utilities. Its Daily$ rewards system automatically credits your account.
Fuel savings come through 6% discounts at SPC stations. Family outings get sweeter with exclusive Mandai Wildlife Reserve privileges. Just maintain a balance of S$800 in monthly spending across eligible categories.
Maybank Family & Friends Card: 8% Cashback on Groceries
Maybank offers flexibility with 8% rewards across customizable spending categories. Choose from groceries, dining, or transport every quarter through their online portal. The S$125 monthly cap ensures consistent savings.
Regional TREATS privileges include Caltex fuel discounts and shopping vouchers. Unlike POSB’s fixed partners, Maybank lets you adjust rewards to match changing household needs. The same S$800 minimum spend applies.
| Feature | POSB Everyday | Maybank F&F |
|---|---|---|
| Grocery Cashback | 5% (Sheng Siong) | 8% (Custom) |
| Utilities Reward | 3% SP Services | Not applicable |
| Fuel Partner | 6% at SPC | Caltex discounts |
| Annual Fees | Waived | S$160 |
| Flexibility | Fixed categories | Quarterly customization |
Pro tip: POSB suits loyal Sheng Siong shoppers, while Maybank benefits those wanting adaptable rewards. Both help families save on essentials without changing spending habits.
Best Cashback Cards for Online Shopping
Digital shoppers can turn everyday online purchases into meaningful savings with the right financial tools. Whether you buy gadgets, fashion, or groceries through apps, specialized programs offer high-value returns.
CIMB Visa Signature: Broad Online Rewards
This option shines with 10% rewards across most web transactions—from Amazon to local retailers. A S$800 monthly minimum ensures active use, but no caps mean big spenders earn continuously.
Travelers appreciate included insurance for flights and hotels booked online. Non-qualifying purchases still earn 0.2%, making it versatile. New users enjoy a S$238 sign-up bonus through selected partners.
DBS yuu: Merchant-Specific Perks
Focused on 18% rewards at Cold Storage, Giant, and other partners, this program excels for household essentials. The yuu app lets you convert earnings to miles or redeem for eggs, rice, and staples.
A tiered system caps rewards at S$60/month when spending S$600. Variable sign-up bonuses change quarterly—check current offers before applying. Weekend promos often stack with base rewards.
| Feature | CIMB Visa Signature | DBS yuu |
|---|---|---|
| Reward Rate | 10% online | 18% at partners |
| Minimum Spend | S$800/month | S$600/month |
| Reward Cap | None | S$60/month |
| Flexibility | Travel insurance | Miles conversion |
| Best For | General e-commerce | Grocery specialists |
Pro tip: CIMB suits those who shop across multiple sites, while DBS yuu rewards loyalty to specific stores. Both turn routine web transactions into tangible savings.
Best Flat-Rate Cashback Cards
Eliminate guesswork with financial tools offering uniform rewards across all transactions. These options remove category tracking while delivering predictable value, ideal for those who prefer simplicity.
American Express True Cashback Card: 1.5% Flat Rate
The Amex True Cashback Card starts strong with a 3% introductory rate for six months (capped at S$5,000 spend). This charge card model requires full monthly balance payments but waives annual fees for the first year.
Unlike credit cards, it doesn’t allow cash advance transactions. Insurance coverage includes purchase protection and extended warranties—perfect for electronics buyers. Post-intro period, the 1.5% rate applies to all purchases without minimum spend requirements.
UOB Absolute Cashback Card: 1.7% on All Purchases
UOB’s credit card offers slightly higher base rewards at 1.7%, including typically excluded categories like insurance premiums (0.3% rate). Foreign transactions incur 3.25% fees—check t&cs apply for regional exceptions.
The first-year fee waiver makes it cost-effective, with subsequent years at S$192.60. Travel accident coverage and fraud protection add security. Its revolving credit line suits those needing spending flexibility.
| Feature | Amex True Cashback | UOB Absolute |
|---|---|---|
| Base Rate | 1.5% | 1.7% |
| Intro Offer | 3% (6 months) | None |
| Annual Fee | Waived 1st year | Waived 1st year |
| Foreign Fee | 2.95% | 3.25% |
| Best For | Big initial purchases | Ongoing daily spending |
Pro tip: Amex excels for planned large buys during the intro period, while UOB provides better long-term value for mixed spending. Both eliminate category management hassles.
Best Cashback Cards for Big Ticket Purchases
Major purchases like electronics or furniture can yield serious savings with the right financial strategy. Whether you prefer straightforward rebates or flexible points, tailored options exist to match your spending style.
Citi Cash Back+: Simplicity Meets Flexibility
The Citi Cash Back+ offers 1.6% uncapped rewards on all transactions, credited instantly via SMS. Citi Plus customers earn an extra 0.4%, boosting returns for loyal users.
No *min* spend requirements make it ideal for sporadic big buys. For example, a S$5,000 furniture *purchase* nets S$80—or S$100 with Citi Plus. Review eligibility *conditions* to maximize benefits.
HSBC Revolution: Points for Power Shoppers
HSBC’s 10X Rewards system converts online spending into airline miles or vouchers. Big-ticket items qualify for installment plans, spreading costs interest-free over 12 months.
Included ENTERTAINER app access adds dining discounts. However, foreign transactions incur 3.25% fees—check *terms apply* for regional exceptions.
| Feature | Citi Cash Back+ | HSBC Revolution |
|---|---|---|
| Reward Type | 1.6% cashback | 10X points |
| Foreign Fees | 2.5% | 3.25% |
| Insurance | Purchase protection | Travel accident |
| Best For | Instant rebates | Miles collectors |
“HSBC’s installment option saved me S$400 on a laptop—I paid over 6 months without interest.”
How to Maximize Your Cashback Earnings
Small tweaks in how you spend can lead to big rewards over time. Whether you’re budgeting for groceries or planning a vacation, strategic habits amplify your savings.
Understanding Eligible Spend
Not all purchases qualify for rewards. Insurance premiums, overseas transactions, and government payments often don’t count. For example, HSBC Advance excludes fuel, while OCBC 365 covers dining but not utilities.
Check your card’s terms to align spending. The OCBC 365 rewards S$466 quarterly if you hit S$6k in *eligible spend*. Pair it with CIMB Visa Signature for online shopping to stack rewards.
| Card | Eligible Categories | Exclusions |
|---|---|---|
| OCBC 365 | Dining, petrol, streaming | Utilities, insurance |
| HSBC Advance | Retail, dining | Fuel, overseas |
| CIMB Visa | Online shopping | In-store retail |
Meeting Minimum Spend Requirements
HSBC Advance requires S$2k monthly for 2.5% rewards. Time big purchases to meet thresholds—schedule electronics buys or bulk groceries at month-end.
- Autopay bills: Set recurring payments to count toward minimums.
- Supplementary cards: Combine family spending to hit targets faster.
- Track progress: Use bank apps or spreadsheets to monitor *cashback earned*.
“I saved S$120 last quarter by shifting my grocery runs to the first week—just in time for HSBC’s cycle reset.”
Common Pitfalls to Avoid with Cashback Cards
Hidden fees and unclear terms can turn a rewarding experience into frustration. Understanding limitations helps you sidestep surprises and maximize benefits.
Cashback Caps and Limits
Many programs have hidden ceilings. For example, POSB’s S$110 monthly limit might cap your grocery rewards unexpectedly. Always check the t&cs for category-specific restrictions.
Late payments or an outstanding balance often void earned rewards. Some issuers reset cycles abruptly—track deadlines to avoid losing savings.
Foreign Transaction Fees
Purchases abroad often incur extra costs. Amex charges 2.95%, while UOB Absolute applies 3.25%. Excluded categories like insurance may earn only 0.3%.
Exceptions exist: Citi Cash Back+ skips foreign fees entirely. Pair it with multi-currency accounts for travel savings.
| Card | Foreign Fee | Notes |
|---|---|---|
| Amex True Cashback | 2.95% | No caps on rewards |
| UOB Absolute | 3.25% | 0.3% on exclusions |
| Citi Cash Back+ | 0% | Instant SMS credits |
“I lost S$50 in rewards by missing POSB’s cycle reset—now I set calendar reminders.”
- Cash advance traps: Withdrawals often attract 6% fees and no rewards.
- Category overspending: Maxing out one area (e.g., dining) may leave other purchases unrewarded.
- Insurance exclusions: Most premiums don’t qualify—use flat-rate cards instead.
How to Apply for a Cashback Credit Card
Applying for rewards programs shouldn’t feel like solving a puzzle. With clear preparation, you can navigate bank requirements smoothly. Most issuers process requests within 3-14 days—some even offer instant approval.
Eligibility Criteria
Banks set minimum income thresholds. For example, HSBC requires S$30,000 annually, while Citi accepts S$42,000. Foreigners often need higher salaries—UOB asks for S$60,000 from non-residents.
Your credit score matters too. A rating below 1,800 may trigger rejections. Avoid cash advance requests before applying—they temporarily lower scores.
Required Documents
Locals typically provide:
- NRIC copy
- Latest payslips (3 months)
- CPF contribution history
Foreign applicants add:
- Employment Pass copy
- Tenancy agreement or utility bill
HSBC’s promo excludes existing customers—check terms and conditions carefully. Citi requires a SingSaver redemption form for bonuses.
“Using SingSaver’s portal cut my application time to 48 hours—their status tracker showed real-time updates.”
Pre-approval checks don’t affect credit scores. Many banks offer online tools to estimate eligibility before formal submission.
Comparing Cashback Cards: Key Features at a Glance
Side-by-side comparisons reveal which programs deliver the most value for your spending patterns. While reward rates grab attention, smart savers weigh caps, fees, and eligibility rules to calculate true benefits.
Cashback Rates and Caps
Effective rewards depend on how much you spend and where. The table below shows how top options stack up across common categories:
| Card | Dining | Groceries | Online | Cap |
|---|---|---|---|---|
| HSBC Live+ | 8% | 0.5% | 1% | S$250/qtr |
| OCBC 365 | 5% | 3% | 0.3% | S$160/mth |
| Maybank F&F | 8%* | 8%* | 0.2% | S$125/mth |
| CIMB Visa | 0.2% | 0.2% | 10% | None |
*Customizable categories. Rates apply only to eligible spend after minimum thresholds.
Annual Fees and Waivers
First-year waivers are common, but long-term costs matter. Here’s what persists after promotional periods:
- HSBC Advance: S$192.60/year after waiver (S$70/mth cap)
- UOB Absolute: Permanent waiver for S$30k annual spend
- Amex True: S$178.20 from year 2 (no spend requirements)
Pro tip: Call your bank before renewal. Many waive fees if you mention competitor offers.
“I saved S$384 over three years by negotiating annual fees—it takes one 10-minute call.”
Factor in hidden costs like 8% GST on fees or S$30 replacement charges. A card with 1.7% rewards but S$200 fees needs S$11,765 annual spend just to break even.
Conclusion
Choosing the right financial tool depends on your spending habits. For dining, HSBC Live+ offers 8% rewards, while CIMB Visa Signature excels for online shopping. Families benefit from Maybank’s customizable categories.
Act soon—limited-time deals like HSBC’s 2025 promo add extra value. Pair a flat-rate option with a category-specific one to maximize earnings. Always check eligibility rules before applying.
Customer service quality matters when issues arise. Terms change often, so review updates periodically. Compare options carefully to find your ideal match.
Start saving smarter today. Small adjustments can lead to significant rewards over time.
