Spending on personal items, gifts or vacations gives you the satisfaction of being able to reward something for yourself and your loved ones. However, do you habitually catch yourself being bothered by the dwindling bank balance? Do you know that you can earn while you spend? 

As you sit to plan your monthly expenditure, take a moment to reflect on how you pay for your expenses. Although credit cards seemed to have gained a bad reputation, they do come with some advantages that when utilised correctly can help you in the long run. Cashback credit cards are the perfect example of how you can use credit cards to your advantage. 

What are cashback credit cards?

Cashback credit cards give you rebates in the form of cash. When you use your cashback credit card to pay for your daily expenses, the total amount spent on a monthly basis will be calculated and a certain percentage or amount will be given back to you in the form of cash. 

It can be exhausting to select the right credit card based on your needs due to a large number of options available out there. It is crucial to choose a cashback credit card which best suits your needs and lifestyle. 

So, the big question is, which one should you apply for? Here are some of the top cashback credit cards in Singapore. 

Standard Chartered Unlimited Cashback Credit Card

This is your go-to credit card if you are a person who spends daily or travels a lot. With Standard Chartered Easy Bill, you can earn up to 1.5% cashback on expenses which include IRAS, education, insurance, rental payment, shopping, dining, and expenses made both locally and abroad. There is no minimum spend or cashback caps that you should be worried about. 

For new cardholders, you get an instant cashback of S$200 when you sign up and make at least three successful transactions within 30 days of your card approval. Plus, you will receive 1% cashback for every successful transaction made. 

You will also be eligible for shopping and dining rebates at more than 3,000 outlets all over Asia under Standard Chartered’s The Good Life benefits program.  

Annual Interest Fee and Rate

S$192.60 / 26.90%

Minimum Income Requirements

Singaporean/Permanent Resident: S$30,000

Non-Singaporean: S$60,000

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Citi Cash Back+ Mastercard

Citi Cash Back Credit Card helps minimise your concerns on daily expenses. You will be experiencing a fuss-free rebate system that offers you a cashback rate of 1.6% on every spend. There are no cashback limits set or minimum payment requirements which allow you to enjoy the limitless rebates.  

This credit card gives you a privilege of enjoying great deals on grocery, shopping and dining made within Singapore and in 95 other countries. You will also be able to carry forward your cashback as there will be no expiry on your earned rewards. 

The convenient part about this card is that you will be able to instantly redeem your cashback with Citi Pay with Points or by sending a text using the redemption codes. What’s more, when you sign up you will earn a welcome gift up to 4.5% cashback. 

Annual Interest Fee and Rate

S$192.60 / 26.90%

Minimum Income Requirements

Singaporean/Permanent Resident: S$30,000

Non-Singaporean: S$42,000

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POSB Everyday Card

For quick and easy online purchases, POSB Everyday Card is your best choice. You will be able to enjoy 8% cash rebates on dining and online shopping on Amazon.sg, Lazada, Qoo10 and Shopee. As there is no expiry on your earned cashback, you can offset purchases with more than 200 outlets via DBS PayLah! app. 

Stand a chance to grab up to 20.1% fuel savings at SPC Station all throughout Singapore. You also get to enjoy rebates as you pay off your utilities. Stock up your daily essentials with this credit card at Sheng Siong and Watsons to enjoy 3% cash rebates.

There are also daily redemptions for you to discover when you use this card. Its easy access allows you to offset any payment on the go.

Annual Interest Fee and Rate

S$192.60 / 26.80%

Minimum Income Requirements

Singaporean/Permanent Resident: S$30,000

Non-Singaporean: S$45,000

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HSBC Advance Credit Card

If you are looking to skip the annual fee for the first year, this is your card. New users are eligible to enjoy first year annual fee waiver! The HSBC Advance Credit Card comes with a 3.5% cashback rate for both local and overseas expenditures. 

You can use the card for online shopping, grocery purchases and dining. This credit card can also be used as an EZ-Link card. All you have to do is activate the card via SimplyGo. 

There are two types of rebates with this credit card. First, you will receive a cashback of 2.5% on all purchases resulting in a monthly cashback of S$70 for a minimum spend of S$2,000. And, for expenses above S$2,000, you will enjoy 3.5% cashback with a monthly cap of S$125.  

Annual Interest Fee and Rate

S$192.60 / 25.90%

Minimum Income Requirements

Singaporean/Permanent Resident: S$30,000

Non-Singaporean: S$40,000

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American Express True Cashback Card

With the American Express True Cashback Card, you will be able to enjoy a 1.5% cashback on all eligible purchases made. There are no minimum spend requirements and you will not need to worry on the cashback cap. 

As a new credit cardholder, you will receive a welcome bonus of 3% cashback and earn up to S$150 on your S$5,000 spend within the first six months. You can earn 1% cashback on foreign currency spend within the first half of 2021. Plus, your first year annual fee will be waived off. 

Experience the exclusive dining services all around the world with this card. You will be able to get 15% to 20% discounts from Peach Garden, Taste of India and Mo Bar. Besides that, you also get to upgrade your shopping experiences with the privilege of up to 40% discounts at Phillips, Qoo10 and Alibaba. 

Annual Interest Fee and Rate

S$171.20 / 26.90%

Minimum Income Requirements

Singaporean/Permanent Resident: S$30,000

Non-Singaporean: S$60,000

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Earn Rewarding Cashback From Top Cashback Credit Cards In Singapore

Being financially astute does not limit your expenditure but it allows you to manage your money flow wisely. Using the ideal cashback credit card, you will be able to enjoy spending and saving money at the same time.