Cashback Credit Card Guide | Apply for Cashback Credit Cards Singapore

Credit Cards

Do you want to earn miles, money, or reward points? How can you compare and choose the best one for your lifestyle with so many credit cards available? Your spending habits and personal preferences take precedence when it comes to credit cards. There’s a card for everyone, whether you like to travel in luxury or just want cash in your pocket. In this blog, we talk about the cashback credit card guide. 

Cashback Credit Card Guide

Credit Cards for Cashback 

When it comes to collecting rewards for credit card spending, a cashback card is the most obvious option. A cashback card rewards you with cash credited to your credit card. These cash credits can be applied to your next purchase.

Why do you need cashback cards?

If you believe that cash is king. You are rewarded with cash on your credit card, which you may use right away on your next purchase, whatever it may be.
Suppose you don’t spend a lot of money. You still get rewards no matter how much you spend, and the cashback cap doesn’t worry you. If you like instant gratification. Every month, your reward is credited to your credit card. Miles and rewards cards, on the other hand, require months or even years of collecting before you can redeem anything worthwhile.

Pros

• Get a percentage of your expenditure back as cashback.
• Specific categories have a high cashback rate (e.g. grocery, dining, petrol, shopping, etc.)
• Every month, you will receive your cashback.
• There is no redemption procedure necessary.

Cons

• A monthly minimum spend is required.
• The highest amount of cashback you can earn each month
• Not every category earns a high cashback rate.

What to look for when selecting a cashback card:

Cashback rate: How much will you earn in cashback?
Cashback rates are greater in the following categories: Which category of spending will earn you the most cashback?
Minimum monthly expenditure: How much money must you spend each month to obtain this cashback?
Cashback cap: What is the maximum amount of cashback you can receive in each category each month?

Citi Cash Back Credit Card

The Citi Cash Back Card is popular for a reason: it allows you to earn 8% cashback on grocery purchases, both online and at major supermarkets, 8% return on gas purchases (up to 20.88% savings at Esso and Shell), and 6% money on eating at restaurants, cafés, fast food eateries, and caterers. This is true whether you are spending locally or internationally.

Simply aggregate your costs and spend a minimum of S$800 in the statement month to earn the 8% and 6% cashback. Other purchases will make an infinite 0.25 percent cashback. Even though the Citi Cash Back Card has a monthly S$80 cashback cap, it’s comforting to know that you don’t have to spend an equal or nearly equal amount on each of these three bonus areas to maximize your savings because the S$80 cashback cap applies to all three bonus categories.

When you charge your travel tickets to this card, you will receive complimentary travel insurance coverage of up to S$1 million, as well as access to Citi World Privileges, which offers dining, lifestyle, travel, and shopping bargains in 95 countries.

CIMB Visa Signature Card

Want a cashback credit card with no annual fees for life? Consider the CIMB Visa Signature Card. This card offers a 10% payback on online purchases, grocery, beauty/wellness, pet shops/veterinary services, and cruises, as well as an unlimited 0.2 percent cashback on all other purchases.

Simply aggregate your spending and spend a minimum of S$800 in the statement month to earn the 10% cashback, which is capped at S$100 every statement month and S$20 per category. If you have pets, frequently shop online, enjoy going to hairdressers, massage parlours, and spas, and regularly buy groceries, this credit card may be for you. It’s unusual to discover a credit card that offers cashback on veterinary services! You can also provide your family with the same card privileges at no additional cost; CIMB provides up to four free supplemental cards.

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