Best Cashback Credit Cards 2019

After careful calculations and a close reading of 100+ terms & conditions pages, we've identified which cashback cards truly deliver the best value-to-consumer in Singapore. The analysis below takes into account a broad range of metrics–including criteria required to earn the highest advertised rates–so you can identify in straightforward terms which card will maximise rebates on all of your spend.

Best Cashback Credit Cards Overall:
Best Cashback Credit Cards with No Annual Fee:
Best Cashback Credit Cards for High-Income Individuals:
Best Cashback Credit Cards for Lower Spenders:
Best Credit Cards for Online Shopping & Mobile-Pay:
Best Cashback Credit Cards for Leisure & Entertainment:

Compare Best Cashback Credit Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

The best cashback cards, led by UOB One Card, greatly exceed the market average for value-to-consumer after 2-years, based on S$2,000 monthly spend
Best Cashback Credit Cards Overall: Best Cashback Credit Cards with No Annual Fee: Best Cashback Credit Cards for High-Income Individuals: Best Cashback Credit Cards for Lower Spenders: Best Credit Cards for Online Shopping & Mobile-Pay: Best Cashback Credit Cards for Leisure & Entertainment:

Compare Best Credit Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

The best cashback cards, led by UOB One Card, greatly exceed the market average for value-to-consumer after 2-years, based on S$2,000 monthly spend

Best Cashback Credit Cards in Singapore

Cashback cards are an easy-to-use alternative to points and miles cards, and can offset your monthly bill.

Maybank Family & Friends MasterCard: Cashback in SG & MY

  • Best for Rebates in SG & MY w/ S$500 min. spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on dining, groceries, transport, petrol & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
Maybank Family & Friends Card is an exceptional option for both average and lower spenders with primarily local or regional budgets. Cardholders can earn 5% cashback in key categories (dining, groceries, transport, petrol, data communications/online TV streaming & more) after just S$500 minimum spend, or up to 8% cashback with S$800 spend. Rewards are capped at a lofty S$80/month, which can be maxed out with just S$1,000 monthly spend–adding up to S$960 cash rebate per year. Finally, rewards categories are not merchant-limited, making it even easier to earn rewards. While rates apply only to spend in Singapore and Malaysia, Maybank F&F Card still stands out from competitors by waiving its S$180 fee for 3 years, and then with S$12,000 annual spend.
  • Stand-Out: Rebates of up to 8% in SG & MY w/ just S$500–800 spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on dining, groceries, transport, petrol & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
Maybank Family & Friends Card is an exceptional option for both average and lower spenders with primarily local or regional budgets. Cardholders can earn 5% cashback in key categories (dining, groceries, transport, petrol, data communications/online TV streaming & more) after just S$500 minimum spend, or up to 8% cashback with S$800 spend.


Additionally, rewards are capped at a lofty S$80/month, which can be maxed out with just S$1,000 monthly spend–adding up to S$960 cash rebate per year. Finally, categories are not merchant-limited, making it even easier to earn rewards. While rates apply only to spend in Singapore and Malaysia, Maybank F&F Card still stands out from competitors by waiving its S$180 fee for 3 years, and then with S$12,000 annual spend.

POSB Everyday Card: Top Promotional Rebates + Transport Perks

  • Promotional rebates of up to 15% in key spend categories
  • Promotions: Receive S$120 cashback w/ S$800 spend in 2mo
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 15% rebate with select merchants for parking & public transit
  • 5% rebate on select taxis & ride-hailing services
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
If you spend on a wide variety of daily essentials and are open to occasionally shopping with select merchants, POSB Everyday Card may be a great match for you. While promotional rates change frequently, cardholders can typically earn up to 15% rebate in categories such as dining, groceries, transport, personal care and even recurring bills (which are excluded by most other cashback cards). Some categories may have vendor limitations, but others are more flexible. Furthermore, consumers can enjoy all-in-one convenience as POSB Everyday Card has SimplyGo/ABT capabilities, allowing for contactless fare payment on public transit rides.
  • Stand-Out: Promotional rebates of up to 15% in key spend categories
  • Promotions: Receive S$120 cashback w/ S$800 spend in 2mo
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 15% rebate with select merchants for parking & public transit
  • 5% rebate on select taxis & ride-hailing services
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
If you spend on a wide variety of daily essentials and are open to occasionally shopping with select merchants, POSB Everyday Card may be a great match for you. While promotional rates change frequently, cardholders can typically earn up to 15% rebate in categories such as dining, groceries, transport, personal care and even recurring bills (which are excluded by most other cashback cards). Some categories may have vendor limitations, but others are more flexible. Furthermore, consumers can enjoy all-in-one convenience as POSB Everyday Card has SimplyGo/ABT capabilities, allowing for contactless fare payment on public transit rides.

UOB One Credit Card: Best Rebate Card for Stable Spenders

  • Up to 5% rebate on all spend, S$300/quarter
  • Promotions: Earn an additional 5% rebate (up to 10%) on Grab rides, food & top-ups
  • Receive up to 6% rebate on Singapore Power utilities bill
  • Receive up to S$180 cashback w/ S$1.5k spend in 1st month + opening UOB One Savings Account
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you consistently spend S$2,000/month, you’ll earn more with UOB One Card than with any other flat rebate card. Spend at this level earns 5% cashback, up to S$300/quarter–amongst the highest earning potentials on the market. Lower or inconsistent spend also earns 3.33% up to S$50 or S$100/quarter (depending on minimum spend), but these rates are slightly less competitive.


One of the best features of UOB One Card is that all spend counts toward your rebate tier, including payments for recurring bills, telco, & insurance. Cardholders can ‘double’ their rebate through UOB SMART$ Programme, which also earns SMART$ credits with select merchants, which then offset future purchases. With UOB One Card, consumers can make the most of their daily spend, while only paying a S$192.6 annual fee. Overall, this card is the best flat rebate option on the market for average spenders.

  • Stand-Out: Up to 5% flat rebate on all spend, S$300/quarter
  • Promotions: Earn an additional 5% rebate (up to 10%) on Grab rides, food & top-ups
  • Receive up to 6% rebate on Singapore Power utilities bill
  • Receive up to S$180 cashback w/ S$1.5k spend in 1st month + opening UOB One Savings Account
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you consistently spend S$2,000/month, you’ll earn more with UOB One Card than with any other flat rebate card. Spend at this level earns 5% cashback, up to S$300/quarter–amongst the highest earning potentials on the market. Lower or inconsistent spend also earns 3.33% up to S$50 or S$100/quarter (depending on minimum spend), but these rates are slightly less competitive.


One of the best features of UOB One Card is that all spend counts toward your rebate tier, including payments for recurring bills, telco, & insurance. Cardholders can ‘double’ their rebate through UOB SMART$ Programme, which also earns SMART$ credits with select merchants, which then offset future purchases. With UOB One Card, consumers can make the most of their daily spend, while only paying a S$192.6 annual fee. Overall, this card is the best flat rebate option on the market for average spenders.

Citi Cash Back Card: Global Rebates on Food & Petrol

  • Up to 8% rebate on global dining, groceries & petrol
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, & petrol (any station)
  • Up to 20.88% fuel savings at Esso & Shell
Citi Cash Back Card is a great card for average consumers who spend most of their budget on food and transport. Dining, groceries, and petrol (any station) earn 8% cashback, up to S$75/month, which is one of the highest offers for these spending categories.


One drawback is that consumers must spend S$888/month to unlock these rates and general spend earns just 0.25% cashback. There is a S$192.6 fee, which is only waived 1 year. These features may make Citi Cash Back Card slightly less accessible for some consumers. Overall, however, this card stands out for rewarding top spend categories with great rates, with the potential to earn up to S$900/year in cashback.

  • Stand-Out: Up to 8% rebate on global dining, groceries & petrol
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, & petrol (any station)
  • Up to 20.88% fuel savings at Esso & Shell
Citi Cash Back Card is a great card for average consumers who spend most of their budget on food and transport. Dining, groceries, and petrol (any station) earn 8% cashback, up to S$75/month, which is one of the highest offers for these spending categories.


One drawback is that consumers must spend S$888/month to unlock these rates and general spend earns just 0.25% cashback. There is a S$192.6 fee, which is only waived 1 year. These features may make Citi Cash Back Card slightly less accessible for some consumers. Overall, however, this card stands out for rewarding top spend categories with great rates, with the potential to earn up to S$900/year in cashback.

Best Cashback Credit Cards with No Annual Fee

If you're looking to earn cashback without paying an annual fee, check out the cards below.

OCBC 365 Card: No-Fee Rebates on Essentials

  • Up to 6% rebate on dining, groceries, transport & more
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges
OCBC 365 Card offers a great no-fee way to earn cashback on daily purchases. Cardholders earn up to 6% rebates on dining and 3% on groceries, land transport, online travel bookings and recurring electricity and telco bills. There are no merchant restrictions (unlike competitors) and rewards are capped at a lofty S$80/month. Another perk is that cardholders can enjoy a fee waiver with S$10k annual spend–thats just S$833/month. This spend level also meets minimum spend requirements, ensuring top rewards rates. Overall, OCBC 365 Card is definitely one of the best everyday options with a fee-waiver.
  • Stand-Out: Up to 6% rebate on dining, groceries, transport & more
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges
OCBC 365 Card offers a great no-fee way to earn cashback on daily purchases. Cardholders earn up to 6% rebates on dining and 3% on groceries, land transport, online travel bookings and recurring electricity and telco bills. There are no merchant restrictions (unlike competitors) and rewards are capped at a lofty S$80/month. Another perk is that cardholders can enjoy a fee waiver with S$10k annual spend–thats just S$833/month. This spend level also meets minimum spend requirements, ensuring top rewards rates. Overall, OCBC 365 Card is definitely one of the best everyday options with a fee-waiver.

HSBC Visa Platinum: Both Cashback + Miles Rewards

  • Rebates on local food & petrol, miles for general spend
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$12,500 annual spend
  • 5% cashback on local dining. groceries & petrol (up to S$250/quarter)
  • 0.4 miles per S$1 general spend, unlimited
  • Up to 21% fuel savings with Caltex, Shell (including 5% card rebate)
HSBC Visa Platinum Card is not only affordable (its S$180 fee is waived 2 years, then with each S$12,500 annual spend), it also rewards consumers with both miles and cashback–which is rare in the current market. Cardholders earn 0.4 miles per S$1 general spend and 5% rebate on local dining, groceries, and petrol. These categories account for the majority of an average consumer’s monthly budget, so most people can take advantage of this high cashback rate and maximise their earnings.


It’s worth noting, however, that in order to earn 5% cash rebate consumers must spend at least S$600/month–every month–per quarter. Lower or inconsistent spenders earn just 0.4 miles per S$1 on all spend. Also, earnings are capped at S$250/quarter, or about S$83/month. However, spending S$1,667/month on food and petrol not only maxes out this reward, but also exempts cardholders from the annual fee. HSBC Visa Platinum Card is not only unique, it also offers great earning potential.

  • Stand-Out: Rebates on local food & petrol, miles for general spend
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$12,500 annual spend
  • 5% cashback on local dining. groceries & petrol (up to S$250/quarter)
  • 0.4 miles per S$1 general spend, unlimited
  • Up to 21% fuel savings with Caltex, Shell (including 5% card rebate)
HSBC Visa Platinum Card is not only affordable (its S$180 fee is waived 2 years, then with each S$12,500 annual spend), it also rewards consumers with both miles and cashback–which is rare in the current market. Cardholders earn 0.4 miles per S$1 general spend and 5% rebate on local dining, groceries, and petrol. These categories account for the majority of an average consumer’s monthly budget, so most people can take advantage of this high cashback rate and maximise their earnings.


It’s worth noting, however, that in order to earn 5% cash rebate consumers must spend at least S$600/month–every month–per quarter. Lower or inconsistent spenders earn just 0.4 miles per S$1 on all spend. Also, earnings are capped at S$250/quarter, or about S$83/month. However, spending S$1,667/month on food and petrol not only maxes out this reward, but also exempts cardholders from the annual fee. HSBC Visa Platinum Card is not only unique, it also offers great earning potential.

CIMB Platinum MasterCard: Best for Medical, Transport & Dining

CIMB Platinum Mastercard
CIMB Platinum Mastercard
  • Up to 10% rebates on medical, transport, dining & more
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • 10% cashback on medical, transport & petrol, dining, overseas travel
  • 10% cashback with select electronics/furnishings vendors
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Platinum MasterCard is by far the best no-fee card for health & transport, offering 10% cashback on medical expenses as well as on everything from Grab rides & taxis to petrol worldwide. Spend on dining, travel in foreign currency, and electronics/furnishings also earns 10% rebate, and cardholders can cumulatively earn up to S$100/month–a relatively high earning potential by market standards.


Category earnings are, however, capped at just S$20/month, so CIMB Platinum MasterCard is best fit for those spending S$200 or less per month in these categories. Those within this spend level, however can earn at much higher rates than available with any other card. While there's a S$800 minimum monthly spend requirement to access these rates, there's no annual fee. As a result, CIMB Platinum MasterCard is an excellent, low-maintenance option for cashback on medical, transport and dining expenses.

CIMB Platinum Mastercard
CIMB Platinum Mastercard
  • Stand-Out: Up to 10% rebates on medical, transport, dining & more
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • 10% cashback on medical, transport & petrol, dining, overseas travel
  • 10% cashback with select electronics/furnishings vendors
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Platinum MasterCard is by far the best no-fee card for health & transport, offering 10% cashback on medical expenses as well as on everything from Grab rides & taxis to petrol worldwide. Spend on dining, travel in foreign currency, and electronics/furnishings also earns 10% rebate, and cardholders can cumulatively earn up to S$100/month–a relatively high earning potential by market standards.


Category earnings are, however, capped at just S$20/month, so CIMB Platinum MasterCard is best fit for those spending S$200 or less per month in these categories. Those within this spend level, however can earn at much higher rates than available with any other card. While there's a S$800 minimum monthly spend requirement to access these rates, there's no annual fee. As a result, CIMB Platinum MasterCard is an excellent, low-maintenance option for cashback on medical, transport and dining expenses.

Best Cashback Credit Cards for High-Income Earners

Credit cards with high or unlimited rewards caps can increase affluent consumers' rewards potential.

HSBC Advance Card: Best for Affluent Advance Customers

  • Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
  • Up to 16% fuel savings with Caltex, 14% with Shell
If you’re open to having an Advance account with HSBC and spend about S$3,500/month, you can earn up to S$1,500 cashback per year–a market-leading amount–with HSBC Advance Card. Cardholders with HSBC Advance accounts earn 3.5% flat cashback, up to S$125/month, after S$2,000 monthly spend (2.5% if below this spend level). Advance customers are also exempt from an annual fee, making this card both easy-to-use and maintenance free. Other flat rate cards have lower rates or much lower earning caps.


Non-Advance banking customers earn 2.5% flat cashback, however, of up to S$70/month, after S$2,000 monthly spend (1.5% if below). They must also pay an S$192.6 annual fee. At these rates, HSBC Advance Card is less competitive, so we would definitely recommend checking to see if you qualify for an Advance account. Ultimately, HSBC Advance Card stands out because it allows Advance customers to earn more cashback per month than with most competitors (who frequently limit rewards to S$100/month) and provides a higher flat rate than most unlimited cards.

  • Stand-Out: Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
  • Up to 16% fuel savings with Caltex, 14% with Shell
If you’re open to having an Advance account with HSBC and spend about S$3,500/month, you can earn up to S$1,500 cashback per year–a market-leading amount–with HSBC Advance Card. Cardholders with HSBC Advance accounts earn 3.5% flat cashback, up to S$125/month, after S$2,000 monthly spend (2.5% if below this spend level). Advance customers are also exempt from an annual fee, making this card both easy-to-use and maintenance free. Other flat rate cards have lower rates or much lower earning caps.


Non-Advance banking customers earn 2.5% flat cashback, however, of up to S$70/month, after S$2,000 monthly spend (1.5% if below). They must also pay an S$192.6 annual fee. At these rates, HSBC Advance Card is less competitive, so we would definitely recommend checking to see if you qualify for an Advance account. Ultimately, HSBC Advance Card stands out because it allows Advance customers to earn more cashback per month than with most competitors (who frequently limit rewards to S$100/month) and provides a higher flat rate than most unlimited cards.

Maybank FC Barcelona Visa Signature: Unlimited Cashback for Local Spend

  • 1.6% unltd local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$120.0, waived with S$10,000 annual spend
  • Unlimited 1.6% rebate on local spend
  • 2 Pts (0.8 miles) per S$1 on foreign currency transactions
  • Up to 10% discount at FC Barcelona official stores
  • Free travel insurance
If you’re a high spender with a local budget and would like to avoid paying a fee, Maybank FC Barcelona Visa Signature Card offers the absolute highest flat unlimited rate for local spend, at 1.6% cashback. Cardholders also earn 2 points (0.8 miles) per S$1 spend overseas, but this is less competitive. However, unlike with other unlimited cards, consumers can earn a fee waiver with just S$10,000 annual spend. Other unique perks include sweepstakes and discounts of up to 10% at official FC Barcelona stores. Ultimately, Maybank FC Barcelona Card is the best option for affluent consumers who spend locally and want to avoid a fee.
  • Stand-Out: 1.6% unlimited local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$120.0, waived with S$10,000 annual spend
  • Unlimited 1.6% rebate on local spend
  • 2 Pts (0.8 miles) per S$1 on foreign currency transactions
  • Up to 10% discount at FC Barcelona official stores
  • Free travel insurance
If you’re a high spender with a local budget and would like to avoid paying a fee, Maybank FC Barcelona Visa Signature Card offers the absolute highest flat unlimited rate for local spend, at 1.6% cashback. Cardholders also earn 2 points (0.8 miles) per S$1 spend overseas, but this is less competitive. However, unlike with other unlimited cards, consumers can earn a fee waiver with just S$10,000 annual spend. Other unique perks include sweepstakes and discounts of up to 10% at official FC Barcelona stores. Ultimately, Maybank FC Barcelona Card is the best option for affluent consumers who spend locally and want to avoid a fee.

Standard Chartered Unlimited Cashback Card: Global Unlimited Rebates

  • 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive up to S$80 cashback w/ approval
  • Unlock up to 5% rebate and S$80 Sign-up bonus when you open Unlimited$aver savings account
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • Up to 21% fuel savings with Caltex
Standard Chartered Unlimited Cashback Card not only rewards 1.5% cashback on all spend, but also offers notably high petrol savings rates. Cardholders earn up to 21% fuel savings with Caltex. Other perks include dining privileges and discounts. It’s worth pointing out that unlimited cards are best for high spenders because there’s no earnings cap. SC Unlimited Cashback Cardholders would need to spend at least S$7,000+/month for rewards to become competitive. This is simply because alternative cards that do have caps tend to have higher rewards rates.
  • Stand-Out: 1.5% unlimited cashback globally w/ no minimum spend requirement
  • Promotions: Receive up to S$80 cashback w/ approval
  • Unlock up to 5% rebate and S$80 Sign-up bonus when you open Unlimited$aver savings account
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • Up to 21% fuel savings with Caltex
Standard Chartered Unlimited Cashback Card not only rewards 1.5% cashback on all spend, but also offers notably high petrol savings rates. Cardholders earn up to 21% fuel savings with Caltex. Other perks include dining privileges and discounts. It’s worth pointing out that unlimited cards are best for high spenders because there’s no earnings cap. SC Unlimited Cashback Cardholders would need to spend at least S$7,000+/month for rewards to become competitive. This is simply because alternative cards that do have caps tend to have higher rewards rates.

American Express True Cashback Card: Unltd Rebates + Amex Perks

American Express True Cashback Card
American Express True Cashback Card
  • 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
  • Receive S$20 CapitaVoucher for each of 1st 2 supplementary cards
  • Read Our Full Review
  • Annual fee: S$171.2, 1-year waiver
  • Unlimited 1.5% cashback on all spend
  • Free travel insurance & Amex Selects Privileges
American Express True Cashback Card offers the 1.5% unlimited cashback that’s rather standard for the market, but it stands out from competitors by boosting earnings to 3% cashback for the first 6 months following approval (up to S$150). Alternative cards rarely offer such welcome bonuses or deals.


Another reason Amex True Cashback Card stands out is that cardholders have access to Amex’s unique and elite services. These top-notch benefits include Global Assist, American Express Selects, and True Cashback card-specific promotions. Many of these promotions offer wedding-related discounts and deals, which is rather rare. Ultimately, Amex True Cashback Card is the best option for you if you’re a high-spending Amex loyalist looking for boosted welcome rates.

American Express True Cashback Card
American Express True Cashback Card
  • Stand-Out: 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
  • Receive S$20 CapitaVoucher for each of 1st 2 supplementary cards
  • Read Our Full Review
  • Annual fee: S$171.2, 1-year waiver
  • Unlimited 1.5% cashback on all spend
  • Free travel insurance & Amex Selects Privileges
American Express True Cashback Card offers the 1.5% unlimited cashback that’s rather standard for the market, but it stands out from competitors by boosting earnings to 3% cashback for the first 6 months following approval (up to S$150). Alternative cards rarely offer such welcome bonuses or deals.


Another reason Amex True Cashback Card stands out is that cardholders have access to Amex’s unique and elite services. These top-notch benefits include Global Assist, American Express Selects, and True Cashback card-specific promotions. Many of these promotions offer wedding-related discounts and deals, which is rather rare. Ultimately, Amex True Cashback Card is the best option for you if you’re a high-spending Amex loyalist looking for boosted welcome rates.

CIMB Visa Infinite Card: Unlimited Cashback for Travellers

CIMB Visa Infinite Card
CIMB Visa Infinite Card
  • Unlimited travel & overseas cashback plus luxury perks
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on all travel expenses & overseas spend
  • Unlimited 1% cashback on all other spend
  • Free travel insurance, 3x lounge access, discounted limo transfers
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Infinite Card offers higher unlimited cashback for overseas and travel spend than any other card on the market, plus a few perks that are usually associated with travel cards. After S$2,000 spend, consumers earn an unlimited 2% cashback on travel (hotels, airlines, travel agencies), overseas spend in SGD, and foreign currency transactions. All other spend earns unlimited 1% cashback with no minimum requirement. Even better, the card is free forever. Extra perks include lounge access, discounted limo transfers, and free travel insurance–rarely offered by cashback cards. If you’re a frequent traveller with high overseas spend and prefer cashback to miles, CIMB Visa Infinite Card is the best option for you.
CIMB Visa Infinite Card
CIMB Visa Infinite Card
  • Stand-Out: Unlimited travel & overseas cashback plus luxury perks
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on all travel expenses & overseas spend
  • Unlimited 1% cashback on all other spend
  • Free travel insurance, 3x lounge access, discounted limo transfers
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Infinite Card offers higher unlimited cashback for overseas and travel spend than any other card on the market, plus a few perks that are usually associated with travel cards. After S$2,000 spend, consumers earn an unlimited 2% cashback on travel (hotels, airlines, travel agencies), overseas spend in SGD, and foreign currency transactions. All other spend earns unlimited 1% cashback with no minimum requirement.


Even better, the card is free forever. Extra perks include lounge access, discounted limo transfers, and free travel insurance–rarely offered by cashback cards. If you’re a frequent traveller with high overseas spend and prefer cashback to miles, CIMB Visa Infinite Card is the best option for you.

Best Cashback Credit Cards for Lower Spenders

If you have a limited budget, you can still maximise rewards for spend with these credit cards.

OCBC Frank Card: Easy Cashback for Online Spend

  • Up to 6% rebate online after just S$400 offline spend
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
If you’re looking to earn affordable cashback for social and online spend, OCBC Frank Card is a great option, offering 6% rebate on online shopping, 5% on local entertainment & select cafes during the weekend (3% on weekdays), and even 3% rebate on Auto Top-Ups. Overall, cardholders can earn up to S$60/month.


What really makes OCBC Frank Card stand out, however, is its remarkably low minimum spend requirement–just S$400 offline. Similar cards require at least a S$600 minimum spend. OCBC Frank Card’s S$80.0 fee is also waived 2 years, and then with S$10,000 annual spend, while direct competitors do not offer a waiver. Ultimately, OCBC Frank Card is remarkably accessible, and allows individuals with lower spend to access top rates for online spend.

  • Stand-Out: Up to 6% rebate online after just S$400 offline spend
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
If you’re looking to earn affordable cashback for social and online spend, OCBC Frank Card is a great option, offering 6% rebate on online shopping, 5% on local entertainment & select cafes during the weekend (3% on weekdays), and even 3% rebate on Auto Top-Ups. Overall, cardholders can earn up to S$60/month.


What really makes OCBC Frank Card stand out, however, is its remarkably low minimum spend requirement–just S$400 offline. Similar cards require at least a S$600 minimum spend. OCBC Frank Card’s S$80.0 fee is also waived 2 years, and then with S$10,000 annual spend, while direct competitors do not offer a waiver. Ultimately, OCBC Frank Card is remarkably accessible, and allows individuals with lower spend to access top rates for online spend.

Maybank Platinum Visa: Top Rebates for Small Local Budgets

  • Up to S$30/quarter with just S$300/month spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Quarterly service fee: S$20.0, 3-year waiver, then w/ card use at least 1x/quarter
  • S$30 quarterly rebate with at least S$300 monthly spend (local only)
  • S$100 quarterly rebate with at least S$1,000 monthly spend (local only)
  • 0.3% rebate on overseas spend, capped at S$50/month
  • Free travel insurance
If you spend between S$300 to S$500 monthly, Maybank Platinum Visa Card is the best way to maximise cashback on your local purchases, whether as a stand-alone card or a supplement to a miles card. Most rebate cards require S$500+ minimum spend, but consumers with Maybank Platinum Visa Card receive S$30/quarter with just S$300/month spend. That adds up to S$120 annual earnings with just S$1,200 annual spend–far more than you could earn with the 0.3% base rate offered by competitors.


Consumers who spend S$1,000/month can earn S$100/quarter, but it’s worth mentioning that competitor cards offer better rates at this spend level. In addition, quarterly rebates apply to local spend only–overseas spend earns just 0.3% cashback. Despite this fact, cardholders do receive free travel insurance. Ultimately, Maybank Platinum Visa Card is an exceptional option for lower spenders because it offers access to high rates with minimal spend. Quarterly fees are even waived simply with card use. It’s even a great no-fee complement to a miles card, for frequent travellers who spend less than S$500/month locally and want a maintenance-free way to maximise cash rebates.

  • Stand-Out: Up to S$30/quarter with just S$300/month spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Quarterly service fee: S$20.0, 3-year waiver, then w/ card use at least 1x/quarter
  • S$30 quarterly rebate with at least S$300 monthly spend (local only)
  • S$100 quarterly rebate with at least S$1,000 monthly spend (local only)
  • 0.3% rebate on overseas spend, capped at S$50/month
  • Free travel insurance
If you spend between S$300 to S$500 monthly, Maybank Platinum Visa Card is the best way to maximise cashback on your local purchases, whether as a stand-alone card or a supplement to a miles card. Most rebate cards require S$500+ minimum spend, but consumers with Maybank Platinum Visa Card receive S$30/quarter with just S$300/month spend. That adds up to S$120 annual earnings with just S$1,200 annual spend–far more than you could earn with the 0.3% base rate offered by competitors.


Consumers who spend S$1,000/month can earn S$100/quarter, but it’s worth mentioning that competitor cards offer better rates at this spend level. In addition, quarterly rebates apply to local spend only–overseas spend earns just 0.3% cashback. Despite this fact, cardholders do receive free travel insurance. Ultimately, Maybank Platinum Visa Card is an exceptional option for lower spenders because it offers access to high rates with minimal spend. Quarterly fees are even waived simply with card use. It’s even a great no-fee complement to a miles card, for frequent travellers who spend less than S$500/month locally and want a maintenance-free way to maximise cash rebates.

Citi SMRT Card: Popular Rebates for Young Professionals

  • Rebates w/ popular merchants, 2% on Auto Top-Ups
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
If you’re looking for balanced cashback for both essential and social spend, Citi SMRT Card is a great option and has no minimum spend requirement. Cardholders earn upto 7% cashback on groceries, 5% on fast food, coffee and cinames, 3% online, 2% on health & wellness, and even a 2% rebate on Auto Top-Ups. These rates are limited to select merchants, but these vendors are very popular, including chains like McDonald’s and Cathay Cineplexes. Another key benefit of Citi SMRT Card is that it’s EZ-Link compatible, making it ideal for commuters. Overall, cardholders can earn up to S$50/month and don’t need to pay the S$192.6 fee for a full 2 years. Citi SMRT Card is an excellent option for young professionals on a budget.
  • Stand-Out: Rebates w/ popular merchants, 2% on Auto Top-Ups
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
If you’re looking for balanced cashback for both essential and social spend, Citi SMRT Card is a great option and has no minimum spend requirement. Cardholders earn upto 7% cashback on groceries, 5% on fast food, coffee and cinames, 3% online, 2% on health & wellness, and even a 2% rebate on Auto Top-Ups. These rates are limited to select merchants, but these vendors are very popular, including chains like McDonald’s and Cathay Cineplexes. Another key benefit of Citi SMRT Card is that it’s EZ-Link compatible, making it ideal for commuters. Overall, cardholders can earn up to S$50/month and don’t need to pay the S$192.6 fee for a full 2 years. Citi SMRT Card is an excellent option for young professionals on a budget.

Best Cashback Credit Cards for Online Shopping

Many shopper cards only offer miles rewards; the following options offer cashback for online spend.

DBS Live Fresh: Rebates on Online & Contactless Spend

  • Up to 5% rebates on online & contactless spend
  • Promotions: Receive S$100 welcome cashback
  • Earn an extra 5% cashback on transport
  • Read Our Full Review
  • Annual fee: S$128.4, 1-year waiver
  • 5% rebate on online spend & contactless purchases
  • All-in-one card with EZ-Link functionality
If you're a tech-friendly consumer and feel comfortable paying with a digital wallet, you may be interested in DBS Live Fresh Card. Cardholders can earn up to 5% rebate on their online purchases as well as contactless transactions. There's a S$600 minimum spend requirement to access these rates, but given the rewards structure, it's possible to earn cashback on nearly all purchases. Finally, DBS Live Fresh Card is EZ-Link compatible, adding to its overall convenience.
  • Stand-Out: Up to 5% rebates on online & contactless spend
  • Promotions: Receive S$100 welcome cashback
  • Earn an extra 5% cashback on transport
  • Read Our Full Review
  • Annual fee: S$128.4, 1-year waiver
  • 5% rebate on online spend & contactless purchases
  • All-in-one card with EZ-Link functionality
If you're a tech-friendly consumer and feel comfortable paying with a digital wallet, you may be interested in DBS Live Fresh Card. Cardholders can earn up to 5% rebate on their online purchases as well as contactless transactions. There's a S$600 minimum spend requirement to access these rates, but given the rewards structure, it's possible to earn cashback on nearly all purchases. Finally, DBS Live Fresh Card is EZ-Link compatible, adding to its overall convenience.

Standard Chartered SingPost Spree: Online Rebates for Low Spenders

  • Cashback on overseas online shopping + shipping discounts
  • Promotions: Receive up to S$80 cashback w/ approval
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • 3% cashback on foreign online & vPost transactions
  • 2% local online & contactless transactions
  • 1% cashback on general spend
  • Up to 20% discounts with vPost, SmartPac, Lock+Smart
  • Online Price Guarantee & 0% Interest Instalment Plan
If you mostly shop online with overseas vendors and have a limited budget, Standard Chartered SingPost Spree Card offers an affordable way to earn rebates and special discounts. Cardholders earn 3% cashback on foreign online & vPost transactions, 2% on local online & contactless transactions, and 1% on general retail. There are no minimum spend requirements to access these rates. Even better, SC SingPost Spree also provides access to shipping and packaging discounts, making overseas shopping even easier. Ultimately, if you're a lower spender, SC SingPost Spree Card might be the best option to maximise your online overseas spend.
  • Stand-Out: Cashback on overseas online shopping + shipping discounts
  • Promotions: Receive up to S$80 cashback w/ approval
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • 3% cashback on foreign online & vPost transactions
  • 2% local online & contactless transactions
  • 1% cashback on general spend
  • Up to 20% discounts with vPost, SmartPac, Lock+Smart
  • Online Price Guarantee & 0% Interest Instalment Plan
If you mostly shop online with overseas vendors and have a limited budget, Standard Chartered SingPost Spree Card offers an affordable way to earn rebates and special discounts. Cardholders earn 3% cashback on foreign online & vPost transactions, 2% on local online & contactless transactions, and 1% on general retail. There are no minimum spend requirements to access these rates. Even better, SC SingPost Spree also provides access to shipping and packaging discounts, making overseas shopping even easier. Ultimately, if you're a lower spender, SC SingPost Spree Card might be the best option to maximise your online overseas spend.

CIMB Visa Signature: Cashback for Online & Beauty Spend

CIMB Visa Signature
CIMB Visa Signature
  • Up to 10% rebates on beauty, online shopping & more
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • 10% rebates on groceries, online shopping, beauty, petcare & cruises
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Signature Card is definitely worth considering if you're seeking rebates on both groceries as well as select discretionary spend, all without an annual fee. Spend on groceries, online shopping, beauty, petcare and cruise lines all earn 10% cashback, up to S$20/month per category. In fact, this card is especially great for consumers with pets, as most credit cards reward this category at base rates as low as 0.2% cashback.


In order to access these rates, cardholders must reach a S$800 minimum spend, which is in-line with market standards. And, while the categories are quite unique, CIMB Visa Signature Card is still worth considering–even if you spend on them irregularly–as there's no annual fee. Finally, this card also comes with attractive perks like free travel insurance and access to CIMB Deals & Discounts.

CIMB Visa Signature
CIMB Visa Signature
  • Stand-Out: Up to 10% rebates on beauty, online shopping & more*
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • 10% rebates on groceries, online shopping, beauty, petcare & cruises
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Signature Card is definitely worth considering if you're seeking rebates on both groceries as well as select discretionary spend, all without an annual fee. Spend on groceries, online shopping, beauty, petcare and cruise lines all earn 10% cashback, up to S$20/month per category. In fact, this card is especially great for consumers with pets, as most credit cards reward this category at base rates as low as 0.2% cashback.


In order to access these rates, cardholders must reach a S$800 minimum spend, which is in-line with market standards. And, while the categories are quite unique, CIMB Visa Signature Card is still worth considering–even if you spend on them irregularly–as there's no annual fee. Finally, this card also comes with attractive perks like free travel insurance and access to CIMB Deals & Discounts.

Best Cashback Cards for Leisure & Entertainment

With these credit cards, you may be able to earn rebates on your social or hobby-related spend.

UOB YOLO Card: Rebates on Weekend Entertainment

  • Up to 8% cashback on weekend dining, entertainment & Grab
  • Promotions: Receive up to S$180 cashback w/ S$1.5k spend in 1st month + opening UOB One Savings Account
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on weekend dining, entertainment, Grab (3% weekdays)
  • 3% online travel & fashion
  • Free travel insurance
UOB YOLO Card offers young adults an excellent way to earn cashback for social spend, plus one of the highest rates for online travel bookings on the market. Cardholders who reach the S$600 minimum spend requirement earn 8% cashback on weekend dining, entertainment, Grab rides, online fashion, and online travel spend (3% weekdays). What makes UOB YOLO Card stand out for travel is its special rates available through merchant partnerships. While promotions change, discounts available through Expedia, Agoda, and others often double cardholders’ savings. Cardholders also enjoy free travel insurance and discounts with major airlines.


Consumers who primarily spend on social activities and on weekends are most likely to benefit, as general spend earns just 0.3% cashback. There’s also a S$60/month earnings cap and the S$192.6 fee is waived just 1 year. However, young adults looking for maximum cashback on travel bookings should definitely consider UOB YOLO Card.

  • Stand-Out: Up to 8% cashback on weekend dining, entertainment & Grab
  • Promotions: Receive up to S$180 cashback w/ S$1.5k spend in 1st month + opening UOB One Savings Account
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on weekend dining, entertainment, Grab (3% weekdays)
  • 3% online travel & fashion
  • Free travel insurance
UOB YOLO Card offers young adults an excellent way to earn cashback for social spend, plus one of the highest rates for online travel bookings on the market. Cardholders who reach the S$600 minimum spend requirement earn 8% cashback on weekend dining, entertainment, Grab rides, online fashion, and online travel spend (3% weekdays). What makes UOB YOLO Card stand out for travel is its special rates available through merchant partnerships. While promotions change, discounts available through Expedia, Agoda, and others often double cardholders’ savings. Cardholders also enjoy free travel insurance and discounts with major airlines.


Consumers who primarily spend on social activities and on weekends are most likely to benefit, as general spend earns just 0.3% cashback. There’s also a S$60/month earnings cap and the S$192.6 fee is waived just 1 year. However, young adults looking for maximum cashback on travel bookings should definitely consider UOB YOLO Card.

CIMB World MasterCard: Best Cashback for Golfers

CIMB World Mastercard
CIMB World Mastercard
  • Complimentary green fees at 40 fairways in SE Asia
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on wine & dine, entertainment, recreation, automobile & parking, petrol, and duty-free stores spend (locally & overseas)
  • Unlimited 1.5% cashback on all other spend
  • Complimentary green fees at 40 fairways in SE Asia
  • Free travel insurance, access to MasterCard Airport Experiences
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB World MasterCard is the absolute best cashback card for golfers on the market, and never charges an annual fee. Cardholders receive complimentary green fees at 40 fairways across SE Asia, and can play up to 160 flights/year–far more than possible with the miles-earning competitor card. Other benefits include free travel insurance and airport lounge access.


Another reason why CIMB World MasterCard stands out, however, is for its uncapped cashback rates which allow for unlimited earning potential. Cardholders earn 1.5% unlimited cashback on all spend, which aligns with similar cards. However, CIMB World Card offers a boosted 2% rate for spend on leisure, including wine & dine, entertainment, recreation, automobile & parking, petrol and spend at duty-free stores. Overall, CIMB World MasterCard is the best choice for affluent golfers because of its great privileges and high unlimited rates–all without an annual fee.

CIMB World Mastercard
CIMB World Mastercard
  • Stand-Out: Complimentary green fees at 40 fairways in SE Asia
  • Promotions: Receive free return flight from select destination w/ min. S$600 spend/mo for 3mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on wine & dine, entertainment, recreation, automobile & parking, petrol, and duty-free stores spend (locally & overseas)
  • Unlimited 1.5% cashback on all other spend
  • Complimentary green fees at 40 fairways in SE Asia
  • Free travel insurance, access to MasterCard Airport Experiences
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB World MasterCard is the absolute best cashback card for golfers on the market, and never charges an annual fee. Cardholders receive complimentary green fees at 40 fairways across SE Asia, and can play up to 160 flights/year–far more than possible with the miles-earning competitor card. Other benefits include free travel insurance and airport lounge access.


Another reason why CIMB World MasterCard stands out, however, is for its uncapped cashback rates which allow for unlimited earning potential. Cardholders earn 1.5% unlimited cashback on all spend, which aligns with similar cards. However, CIMB World Card offers a boosted 2% rate for spend on leisure, including wine & dine, entertainment, recreation, automobile & parking, petrol and spend at duty-free stores. Overall, CIMB World MasterCard is the best choice for affluent golfers because of its great privileges and high unlimited rates–all without an annual fee.

Learn More About How to Find the Best Credit Card for You


While looking at credit cards, you’ll often see promotions like “3% cashback on dining,” “5 Pts for fashion spend,” or “2 miles overseas.” What does this really mean, and how can you tell the difference in terms of value? Being able to tell the difference between cashback, points, and miles rewards cards is important if you want to maximise your earnings–both in terms of your spending habits and need for flexibility. We’ve devised a brief guide to help inform your decision making process below:

Cashback, Points and Miles... What's the Difference?

The biggest difference between cashback, points, and miles is the flexibility they provide to consumers. While similar, they each have distinct characteristics.

Cashback rewards are perhaps the most flexible. When you make purchases on a cashback card, a designated percent of that spend value is returned to your account, often to offset your monthly bill. For example, 5% cashback on a S$100 eligible purchase means S$5 are credited back to your account.

Points rewards are also fairly flexible, because they can usually be redeemed for merchandise vouchers, air miles, or even cash credits. Every card issuer’s rewards system is a little different, so it’s worth checking out the terms and conditions for details. A benefit of points systems is that they are often paired with coupons and discounts with popular merchants. A drawback, however, is that converting points to miles often incurs a S$25 administrative fee.

Miles rewards are the least flexible, but can be more valuable to frequent travellers than points or cashback. Often, miles earned by spend on the card are directly transferred to the cardholder’s frequent flyer airline account. This means cardholders don’t need to worry about conversion fees or the hassle of manual transfers. In terms of value, 1 mile often equals between S$0.01 to S$0.08 in value-to-consumer.


The value of credit card rewards depends on how much effort you are willing to put in to redeem them, and how likely you will be to apply them. For example, while frequent travellers may be interested in points or miles rewards cards, those who don’t want to deal with the hassle of conversions or who are less likely to travel may prefer cashback. In fact, cash rebates are usually automatically applied to the next monthly statement, with no action required by the cardholder. Cashback is low-maintenance and worry-free, so if you’re looking for rewards that are easy and straightforward, cashback may be the best option for you.

How to Compare Rewards Rates of Cashback, Points and Miles Cards

To determine which type of credit card is best for you, it’s important to understand how much value they’ll ultimately provide–how much money do you get back for the amount you spend? While comparing cashback to cashback or miles to miles is fairly easy, it can be difficult when you want to compare cashback rewards to miles rewards.

To figure out a credit card’s rewards rate, you first need to determine the worth of its miles or points. How many points (or miles) are needed to redeem a certain prize? Divide the dollar value of that prize by the number of points needed for redemption. This tells you the dollar value per point. Next, multiply this value by the number of points earned for every S$100 spent to determine the rewards rate. We have collected data to calculate value of miles, which generally range from 1 cent to 8 cents per mile. Value of points will differ depending on the issuing bank's policies.

Finally, each card offers differently structured reward programs. For example, some cards will rebate 10% on dining, but will only yield 0.2% on other expenses. By understanding how your own monthly expenses are generally distributed across different categories, you can better calculate how much money you can save by using a card.

This analysis can help you accurately evaluate which card will result in the highest benefits for your budget.

Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, specialising in credit cards in Singapore. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research.

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