6 Cashback Credit Cards That Pay Out The Most In Singapore

Best Cashback Credit Cards For 2019

So you’ve crossed the big 20 and you’re a confused millennial looking for your very first credit card — now that you’ve finally secured a steady stream of income.

But with the abundance of options out there, it’s nearly impossible to make a choice as to which one suits your needs best.

The good news is that there’s never – and we mean NEVER – been a more opportune moment to pick a card. Air miles or cashback, over $1,000 in cash could be yours.

Talk about a big F-A-T ang pow just in time for Chinese New Year (CNY). But more on that later.

Cashback is king?

There’s only one constant in the sea of endless perks, and that’s cashback. Cashback is a god-send to practical shoppers who want cash rewards for doing what they do best.

On the other side of the ring is air miles, for die-hard fans of travelling. You can clock miles with every dollar spent on your card, and use them to redeem or upgrade flights to your dream holiday destination.

In this article, we’ll only be discussing cashback credit cards. But do stay tuned for Part II of our series which will cover credit cards to help you get air miles.

Here’s the lowdown on all the best credit cards for cashback, with the help of SingSaver’s handy website.

1. American Express True Cashback Card

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American Express True Cashback Card stands out with its lower annual fee, beautiful card face and $20 CapitaVoucher welcome gift.

Although this entry hails from an American financial service, they understand local needs pretty well with 3% cashback on the first 6 months for a total of $5,000 spent. So if you’re wise about clocking your spending to this card, you could technically get 3% cashback easily by shopping for necessities.

Whether you’re new to American Express or are a regular customer, you can pocket $150 in cash by signing up via SingSaver — the perfect sum to begin splurging on CNY goodies.

All things considered, a solid cashback card for those who meet the minimum income requirements.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $60,000


  • 1.5% cashback on eligible spend
  • No cap
  • No minimum spend

SingSaver Exclusive:

  • Get $150 cash when card is approved
  • Promo valid till 31 Jan 2019

2. Citi Cash Back Card

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Citibank’s version of a cashback credit card is useful for practical customers who believe in tangible rewards.

For car-owners who are regulars of petrol stations like Esso & Shell, Citi Cash Back Card promises additional fuel savings of up to 20.88%.

Do watch out for the 8% cashback promise — you’ll have to spend $888 per statement month, to enjoy up to $25 cashback per category, including dining, groceries, petrol and Grab.

But SingSaver’s deal will sweeten new signups with your choice of $200 vouchers from NTUC, Takashimaya or Grab promo codes. If Citibank’s already your bank of choice, you can redeem $30 vouchers instead, after your card is approved.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $42,000


  • 8% cashback on Grab, dining, groceries & petrol daily
    • Worldwide promo till 31 Mar 2019
    • $25/category cashback cap
    • Min. spend of $888/statement month
  • 0.25% cashback on all other retail spend
    • No cap

SingSaver Exclusive:

  • NTUC Fairprice/Takashimaya vouchers or Grab promo codes till 31 Jan 2019
    • New customers: $200 voucher/promo codes
    • Existing customers: $30 voucher/promo codes

3. Standard Chartered Unlimited Card

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We love the 1-for-1 Dining Privileges linked to this Standard Chartered Unlimited Card — they’ll save your wallet, as much as they’ll save your last-minute Fridate with bae.

A no-car life is the Grab life for many of us, so you’ll love this next benefit. Cardholders can get up to 15% cashback on Grab rides in Singapore and overseas till 31 Mar 2019.

That’s the Grab ride back from Chatuchak to your hotel settled on your next Bangkok getaway.

As part of CNY festivities, Standard Chartered is offering a generous welcome gift of $100 cashback for new customers till 31 Jan 2019. Existing StanChart users, no need to feel left out — you’ll get $20 cashback too.

SingSaver will gift an additional $150 cash to new cardholders. Existing holders will receive $50 cash, once your cards are activated.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $60,000


  • 1.5% cashback on all eligible spend
  • No min. spend
  • No cashback cap

SingSaver Exclusive:

  • Cash when card is activated till 31 Jan 2019
    • New customers: $150 cash
    • Existing customers: $50 cash
  • No minimum spend required

4. HSBC Advance Card

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You’ve probably heard of the cashless payment push by our government in Singapore by now. HSBC spearheads the charge by rewarding HSBC Advance Card users with bonus 5% cashback using contactless methods.

Boasting up to 16% instant petrol discounts, car owners who frequent Caltex and Shell stations will be very pleased indeed.

Additionally, HSBC Advance banking customers gain extra 1% cashback from both spending tiers – above & below $2,000/month – and a perpetual fee waiver.

Simply put, consider this cashback credit card if you own a car, and ‘Hey Big Spender’ is the soundtrack of your life.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $40,000


  • 2.5% cashback with min. spend >$2,000/mth
  • 1.5% cashback for spend of $2,000/mth & below
    • No min. spend required
    • Cashback is capped at $70/mth

SingSaver Exclusive:

  • Spend $600 within first 30 days on card till 31 Jan 2019
  • Get cashback from HSBC
    • New customers: $150 cashback
    • Existing customers: $100 cashback

5. UOB Yolo Card

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You only live once, and if you plan to spend like you mean it, understanding the special perks of the UOB Yolo Card will help you get more out of life.

Cash rewards are the best rewards because there’s no limit to how you can spend them. You’ll get $50 cash just for signing up and $100 cash rebate when you spend from now till 23 Jan.

But if you truly want to live the YOLO life, let the card take you on foreign adventures with up to 13% off at Expedia and Agoda, and free travel insurance coverage for up to $500,000.

Sign up within the promo period to get your card delivered upon approval and gain some extra petty cash to spend.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $40,000


  • 3% cashback on online fashion & travel
  • 8% cashback on dining and Grab
  • $60 cashback cap of with min. spend of $600/statement mth
  • 0.3% cashback on all other retail spend, no cap

SingSaver Exclusive:

  • $50 cash for new & existing customers

6. OCBC 365 Credit Card

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Most of us want credit cards for convenience, so the best type would be one that covers all of our basic expenditure, and the OCBC 365 Credit Card does just that.

You wouldn’t hesitate to check out trending new cafes and restaurants since you can get 6% cash rebate for dining anytime, anywhere worldwide.

And we really mean anywhere, even at home on a lazy day when you only have the strength to buy your food through an app.

Forgot to stock up on snacks? Make the trip quick and take a taxi to the supermarket. You can enjoy 3% cashback for your ride and groceries respectively, wherever you may be in the world.

Min. Income Required:

  • Locals/PRs – $30,000
  • Foreigners – $45,000


  • 23% savings at Caltex, 5% fuel cashback at other petrol stations
  • 3% cashback with $80/mth cap per category, min. spend $800/mth required
    • Groceries, taxis worldwide
    • Recurring telco & electricity bills
    • Online air & cruise tickets
    • Online hotel & tour bookings

SingSaver Exclusive:

  • $100 cashback for new customers

Pick a card, win a $1,000 ang pow

Picking the right credit card is very much like picking the right life partner. You must first understand yourself, before you can make the match work.

SingSaver, a personal finance comparison site dedicated to directly comparing how credit cards stack up, is the perfect tool to use before you seal the deal. The site is also a trusted partner of all the major banks in Singapore.

To celebrate CNY, SingSaver is running a limited-time campaign for would-be credit card holders split into 2 camps — those who love accumulating Air Miles versus those who love Cashback.


Every successful card application made on SingSaver’s #AirMilesVSCashback page earns you up to $200 in cash and/or vouchers* till 31 Jan. Pick the winning side in Singapore and you’ll get an extra $50 cash ang pow per card application.

Tag 3 friends on SingSaver’s Facebook post in a comment about whether you prefer air miles or cashback. The 3 most creative comments hailing from the winning team, will each win an auspicious $888 in cash.

So join the movement. Plenty already have. Don’t say we bojio.

Smart spenders are always winners

Adulting may be hard, but we hope this guide to cashback credit cards has come in handy for you.

Regardless of how you prefer to be rewarded for being a savvy shopper, you’ll always be a winner if you plan ahead and understand your own spending habits.

Besides, you don’t want to be the one FOMO-ing when all your friends are fighting to pay for your reunion meal.

Now they’ll be watching green-eyed as you claim your cashback benefits and bonus ang pows like a boss.

This post is brought to you in collaboration with SingSaver.

*Terms and conditions apply. You can read more about the promotion here.

Featured image from MS News.

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