CitiBank CashBack Credit Card | Top Credit Cards Singapore

Credit Cards

Looking for a good credit card in Singapore? The Citibank Cash Back Card is one of Singapore’s most appealing reward cards, giving up to an 8% cash refund on everyday spending categories. In this blog, we discuss the CitiBank cashback credit card. 

In comparison, the average cash back card delivers only 3% to 5% rebates at best, which can leave you feeling a little unsatisfied. Let’s take a closer look at the Citi Cashback credit card to see if it really is as fantastic as it sounds.

Basics of the Card

• The annual fee and waiver for the Citi Cash Back Card are $192.60. (waived for 1 year)
• Additional annual charge of $96.30 (waived for 1 year for first 2 supplementary cards)
• 25-day interest-free period
• Annual interest rate: 26.90%
• Late payment penalty of $100
• The minimum monthly payback is 1% of the loan amount, or $50, whichever is greater.

The Citibank Cash Back Card’s Operation

The Citibank Cash Back Card is a cashback card for the average Singaporean that covers the majority of our daily expenditure areas, such as food and transportation. It offers an amazing 8% reward on groceries and gas, and 6% cashback on eating, which accounts for the majority of a normal Singaporean family’s spending.

Citibank performed an excellent job of updating this credit card in December 2020. The primary modifications are as follows:

Dining cashback has been lowered from 8% to 6%.
The minimum spend has been reduced from $888 to $800.
The cashback cap used to be $25 per category, but it is now $80 across all categories.
Yes, the dining cashback has been reduced significantly, but this is a fair trade-off for the lower minimum expenditure and more loosened cashback cap. There will be no more split caps, which means you will no longer need to track your spending to the dollar!

Who is the Citibank Cashback Credit Card intended for?

The Citi Cash Back Card looks to cover the majority of the necessities of middle-class Singaporean life. It is ideal for anyone who:
owns an automobile, purchases groceries, and eats out. The $800 monthly minimum expenditure may seem a little excessive, but it shouldn’t be a problem if you’re the breadwinner of a family or a couple who splits household spending on one card.

Unless you dine out frequently, this criterion may be a bit high for singles. It should be noted that bars and nightclubs do not count as dining establishments. However, regular expenses such as utilities, as well as online and offline shopping, are not covered. For such areas, you’ll most likely require a backup credit card.

Home Loan | Education Loan | Personal Loan | Car Loan | Travel Insurance | Lifestyle | Real Estate | Career