Best Cashback Credit Cards | Apply for Credit Cards Singapore
Credit Cards
by Priyadarshini
5 January 2022
Consumers may find cashback credit cards to be the most straightforward sort of incentive. Simply charge your purchases to a cashback card, and you will receive a cashback rebate on your purchases. This will be returned to you in the form of a credit on your next monthly credit card statement. In this blog, we tell you about the best cashback credit cards in Singapore.
What to Look For?
Cashback is typically provided in certain categories such as eating, online shopping, grocery, and transportation, so the first step is to understand your monthly spending habits and find the best cashback credit card for you. Furthermore, some cards come with rather comprehensive terms and conditions. These are some examples:
Monthly cashback cap, you can get a monthly minimum spend before you qualify for the claimed cashback rate.
Varying payback rates dependent on weekday or weekend spend certain merchant partners such as specific petrol stations (e.g., Caltex) or grocery chains (eg Cold Storage).
Best Cashback Credit Cards in Singapore 2022
Citi Cash Back Card
The best option for grocery, restaurants, and gas. If you take the family out to eat and shop, the Citi Cash Back card (not to be confused with the Citi Cash Back+ card) is a terrific cashback credit card to keep in your wallet.
It comes with a substantial 8% payback at almost every stop along the way, whether it’s at your local supermarket or your favourite gas station. You can also get a 6% cashback when you dine at restaurants, cafes, fast-food restaurants, and caterers. However, in order to earn cashback, you must spend a minimum of S$800 per month.
Cashback amounts are also limited to S$80 per month (eating, grocery, and petrol), although this can already save you S$80 per month.
Highlights
- High payback of 8% on two common spending criteria – food and gasoline.
- Dining offers a high cashback rate of 6%.
- Monthly savings of up to S$80 are possible.
- ERP payments can be made with this card.
A monthly minimum spends of S$800 is required to earn cashback. A total cashback cap of S$80 per month is in effect.
OCBC 365
The best way to save money on eating and other expenses. One of our favourite reward credit cards for all-around discounts is the OCBC 365 Card.
All week, get 6% cashback on dining and online food delivery, plus 3% cashback on groceries, land transportation, utilities, and online travel. If you drive, the OCBC 365 Card provides fantastic cashback of 5% on all petrol service stations and up to 23% discounts at Caltex. However, there is a catch: the monthly minimum spending requirement is S$800; otherwise, your cashback rate is only 0.3 percent.
Highlights
- Cashback of 6% on dining and online food delivery
- Also, a cashback of 3% on food, land transportation, online travel, and utilities
- Cashback qualified spending categories are more relevant than ever before, and they encompass global purchases.
To qualify for cashback, you must spend at least S$800 per month. A monthly cashback cap of S$80 is in effect.
DBS Live Fresh
The best online and contactless Visa spend. If you do most of your shopping online, this could be the cashback card for you, offering up to 5% cashback. DBS Live Fresh also rewards you for Visa contactless payments (i.e. paywave), as well as smartphone payments such as Apply Pay and Google Pay. It is ideal for individuals who prefer the concept of leaving the house without their wallet, especially as this card can also double your EZ-Link card. In addition, cardholders may now earn an extra 5% cashback at select eco-friendly retailers while helping to save the planet!
Highlights
- All online purchases will earn you 5% cashback.
- 5% reward on Visa contactless purchases, including MRT and bus, rides with SimplyGo Additional 5% cashback at certain eco-friendly retailers.
To qualify for cashback, you must spend at least S$600 per month. Each month, cashback is capped at S$20 on online purchases, S$20 on eligible Visa contactless purchases, S$15 on sustainable purchases, and S$20 on all other purchases. These were the best cashback credit cards you can apply for in Singapore in 2022.
