Cashback credit cards

A cashback credit card can make life just that little bit easier and more rewarding. Earn cashback on your everyday purchases, from groceries and petrol to dining out and shopping.

Standard Chartered Unlimited Cashback Credit Card

On Standard Chartered's website

Standard Chartered Unlimited Cashback Credit Card

Highlights

  • Honeymoon of 3% cashback on foreign currency spend
  • 1.5% cashback on all other spending worldwide
  • No cap in your way of more cashback and no min spend

Finty Rewards

  • $30 cash upon getting your card, even for existing SC cardholders

Bank promo

  • $80 cashback, no min spend ($20 cashback for existing SC cardholders)
HSBC Advance Credit Card

On HSBC's website

HSBC Advance Credit Card

Highlights

  • Up to 3.5% cashback on spending worldwide, no min spend
  • Yes please to exclusive retail, dining, entertainment, travel, and hotel privileges

Finty Rewards

  • $10 cash upon getting your card, even for existing HSBC cardholders

Bank promo

  • Samsonite T5 68cm Spinner Luggage worth $560 or $150 cashback ($30 cashback for existing HSBC cardholders)
OCBC 365 Credit Card

On OCBC's website

OCBC 365 Credit Card

Highlights

  • 6% rebate on local and overseas dining every day and for online food delivery
  • 3% rebate on local, overseas and online groceries, travel, land transport and recurring bills
  • Save up to 23% at Caltex and 20.4% at Esso on petrol, as well as 5% Cashback at all other petrol stations
  • All other purchases still get you 0.3% rebate
  • Up to $500,000 travel insurance coverage and up to $400 coverage for baggage loss

Finty Rewards

  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • $50 cash rebate
Citi Rewards Card (Visa)

On Citi's website

Citi Rewards Card (Visa)

Highlights

  • Earn 10 points per $1 spend on clothes, bags, or shoes online and at department stores worldwide
  • All other purchases still earn you 1 point per $1 spend, no cap
  • No min spend required, enough points could get you that dream holiday, wishlist item and vouchers, or convert 3,600 points to $10 rebate
  • Up to 10% rebate at over 500 merchants
  • Earn miles or reward points when you pay your tax, rent, condominium management fee, school fee or electricity bill with Citi PayAll on the Citi Mobile® App

Finty Rewards

  • $10 cash upon getting your card, even for existing Citi cardholders

Bank promo

  • 30,000 points
American Express True Cashback Credit Card

On American Express' website

American Express True Cashback Credit Card

Highlights

  • Promo 3% rebate in the 1st 6 months
  • 1.5% rebate on all spending worldwide after that
  • Yes please to exclusive retail, dining, entertainment, travel, and hotel privileges
  • No cap in your way of more cash rebate and no min spend

Finty Rewards

  • $80 cash upon getting your card, with $500 spend in the 1st month, for new Amex cardholders only

Bank promo

  • 3% rebate in the 1st 6 months
Standard Chartered Spree Credit Card

On Standard Chartered's website

Standard Chartered Spree Credit Card

Highlights

  • Up to 3% cashback on online spends, 2% cashback on all contactless and mobile payments, no min spend for cashback
  • 1-for-1 Dining offers at participating restaurants with The Good Life
  • If another website is selling your recent online purchase for cheaper, you get 50% of the price difference back

Finty Rewards

  • $30 cash upon getting your card, even for existing SC cardholders

Bank promo

  • $80 cashback, no min spend ($20 cashback for existing SC cardholders)
OCBC Frank Credit Card

On OCBC's website

OCBC Frank Credit Card

Highlights

  • Feel cool flashing your card with over 120 hip designs to choose from
  • 6% rebate on your online shopping, including Grab rides! Woohoo!
  • 5% rebate on local entertainment from Fri to Sun, 3% on other days
  • 5% rebate at selected cafés from Fri to Sun, 3% on other days
  • 3% rebate on your 1st 2 NETS FlashPay Auto Top-Ups

Finty Rewards

  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • $50 cash rebate
HSBC Visa Platinum Credit Card

On HSBC's website

HSBC Visa Platinum Credit Card

Highlights

  • 5% rebate local grocers and on your recurring TV, internet, and mobile bills
  • Save 20.2% at Caltex and 18.30% at Shell on petrol
  • 2% rebate at local restaurants
  • Earn 1 point per $1 spend for rewards on top of cash rebate

Finty Rewards

  • $10 cash upon getting your card, even for existing HSBC cardholders

Bank promo

  • Samsonite T5 68cm Spinner Luggage worth $560 or $150 cashback ($30 cashback for existing HSBC cardholders)
OCBC Cashflo Credit Card

On OCBC's website

OCBC Cashflo Credit Card

Highlights

  • Pay over 6 months with 0% interest for transaction $1,000 and above
  • Pay over 3 months with 0% interest for transaction between $100 and $1,000
  • 1% rebate if your monthly spend is above $1,000 or 0.5% rebate if it's below
  • Save up to 14% at Esso, 16% at Caltex and 20% at Sinopec on petrol

Finty Rewards

  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • $50 cash rebate
OCBC Plus! Visa Credit Card

On OCBC's website

OCBC Plus! Visa Credit Card

Highlights

  • Up to 12% off at Fairprice outlets, Unity and Warehouse Club and up to 8% at Fairprice Online
  • 3% rebate at Cheers and Popular
  • Save up to 20.6% at Esso, 18% at Caltex, 20% at Sinopec
  • 1% rebate on your recurring bills with M1, Starhub, and Singtel
  • 0.22% Linkpoint rewards on all Visa spends

Finty Rewards

  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • $50 cash rebate
Citibank SMRT Card

On Citi's website

Citibank SMRT Card

Highlights

  • Up to 7% rebate at selected grocers
  • Up to 15% rebate at selected cafés
  • 5% rebate at Popular and Toys'R'Us
  • Up to 2% rebate on your EZ-Reload with no convenience fee
  • Rebates are redeemed as vouchers or offset your next purchase 

Finty Rewards

  • $10 cash upon getting your card, even for existing Citi cardholders

Bank promo

  • $120 cash back

Q&As about Cashback credit cards

How can a cashback credit card help me?

One of the best ways to reduce your everyday living costs is to have one or more cashback credit cards, which reward you with cash rebates and discounts for simply doing your normal spending. But in order to maximise your benefits and reduce the cost of holding the card, there are some tips to be aware of and pitfalls to watch out for.

For the best result, before trying to decide which cashback card is best for you, do a little basic research into your normal spending pattern. Where does most of your money go? If you can establish your top three spending categories (e.g. groceries, dining and travel, or petrol, entertainment and online overseas purchases) you may be able to choose a card which gives higher cashback rewards for the very areas where you spend most of your money.

Looking at the last few statements on your existing credit card may be the quickest way to do this analysis. If you don’t already have a credit or debit card, just keep a manual record for a week or two of where your cash or is going.

The cashback cards listed on this page have a variety of benefits to suit most spending patterns. Above-average spenders are likely to have access to higher rebate percentages, but don’t be discouraged if your expenditure is relatively small because there will probably be a card for your situation.

Is there a limit to how much cash rebate I can earn on a credit card?

It depends. Some cards have no cap on the cash rebate you can earn. Others may have a cap on the total rebate you can earn in each monthly statement period, or separate caps on specific categories of spending (e.g. a cap of $25 per month for groceries).

Will I earn a cashback on all my purchases with a cashback credit card?

Some cards allow you to earn a cashback on all your purchases. Others may ask you to choose certain expense categories which will get a higher percentage, such as dining + leisure, or groceries + petrol. Remaining expenditure, outside the chosen categories, then qualifies for a much lower rebate percentage.

Sometimes, low amounts (e.g. an individual purchase below $10, or total monthly spending below $50) will not qualify for the rebate at all.

Is there a minimum amount of spending in order to qualify for the rebate?

Many cards will have a target amount you must spend each month in order to qualify for a cash rebate at the advertised percentage. For example, you might need to spend $888 per month to qualify for an 8% cashback, and failure to reach this target would see the cashback percentage reduced to 0.25% for that month.

Additionally, some cards do not give a cashback on individual items of expenditure amounting to less than $10. However, there are cards with no minimum monthly spending target and no exclusions for small amounts. If your credit card expenditure is small to moderate, this would be the best type of card to choose.

Do all credit cards give the same percentage cash rebate?

No. The percentage will vary from card to card, and between spending categories. A typical rebate set-up may involve 5% cashback on dining, leisure, travel, petrol and groceries worldwide, plus 1% cashback on all other expenditure. Some cards may give a higher rebate percentage (e.g. 8%) on a smaller range of spending (just groceries and petrol, for example).

The rebate applicable to your card can also vary with the calendar, offering different cashback percentages on weekdays and weekends. Foreign currency purchases can also be the target of separate cashback percentages. High percentages can apply to spending with specific merchants: Grab rides, for example, are often offered at 20% cashback.

Many cards will give immediate discounts at the pump on petrol purchases — possibly as high as 20% — as well as a percentage cashback on the discounted purchase.

Are there cards which give a first purchase cashback?

Yes. Some cards may give you merchandise or cash as a welcome gift. This may simply be a cashback granted on card approval, and often this is another way of effectively giving you a first-year annual fee waiver. That is, a card with an annual fee of $180 may give you a cashback of $180 once your card is approved.

Another type of welcome gift cashback is conditional on making a first purchase, and in this case the required spending may be minimal. You may receive a $60 cashback after making your first $10 worth of purchases, for example.

In some cases the spending target may be higher, with a time limit attached (e.g. $168 cashback for spending $588 in the first two months). Alternatively, the rebate may be conditional on a specific area of spending, such as a $100 cash gift for target spending on travel within the first two months of holding the card.

Will I get a cashback for my overseas purchases?

Yes. Cards will almost always include overseas expenditure, in person or online, in the rebate categories. In fact, some cards target overseas spending for a higher percentage.

Do cashback credit cards come with other benefits?

Yes. In addition to cashback, many cards will offer extra benefits, which may include any or all of:

  • Onsite discounts on purchases
  • Complimentary travel insurance
  • Airport lounge access
  • Shopping privileges
  • Balance transfers from another card charged at 0% for an introductory period

How often will the cashback be credited to my account?

Typically, the cashback will be credited to your account quarterly, at the end of the month following the previous quarter. However, there are a few cards which deliver the cashback more regularly after the first $50 earned, in multiples of $10 as soon as your first rebate reaches $50.

Can I have more than one cashback credit card?

Yes, you can maximise your benefit by holding more than one card to pursue higher rebate percentages for a larger number of spending categories. But you need to be sufficiently organised to know which card to bring out of your wallet on which occasion, and to be sure that it is worth paying more than one annual fee (unless one or both of your cards is fee-free).

For some people, a flat rate card covering all purchases may be the best solution. Although the overall rebate rate may be lower, you will reduce the time and effort spent working out which card to use.

How much does it cost to have a cashback credit card?

Many cashback credit card annual fees fall in the range $160 to $195, although there are much cheaper cards (even cards without an annual fee) as well as more expensive cards with additional complimentary benefits. Some cards will waive the annual fee in the first year (or give a welcome cash gift equivalent to the annual fee) and others may waive the fee for two years.

There are cards which will waive your annual fee in any year in which you spend a target amount using the card. This amount can be as low as $12,000 or as high as $25,000, depending on the card.

Watch out for another possible credit card cost: the very high interest rate of between 15% p.a. and 26% p.a. which will apply to any amount unpaid after the monthly interest-free days expire and the account balance becomes payable in full.

Our partners

Partner - American Express
Partner - Citi
Partner - HSBC
Partner - Maybank
Partner - OCBC
Partner - Standard Chartered