Best Unlimited Cashback Credit Cards 2020

If you're a high spender who often feels limited by most rebate cards' rewards caps, you may be better suited to an unlimited cashback card. After careful analysis, we've identified the best credit cards in Singapore for high earners looking to reach their full rewards-earning potential. Our reviews provide insight into how each card is unique, helping you to select the best option for your lifestyle.

Highest Flat Unlimited Cashback Rate
Unlimited Cashback & 0% Interest Instalment Plan
Unlimited Cashback With Best Sign-On Boost:
Unlimited Cashback for Local Spenders
Unlimited Cashback for Frequent Travellers

Compare the Best Unlimited Cashback Credit Cards in Singapore by Dollar Value

Based on a high monthly spend of S$6,000, 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.

A graph displaying how best credit cards compare to one another in terms of their rewards
Best Unlimited Cashback Credit Cards in Singapore by Estimated 2-Year Dollar Value
Highest Flat Unlimited Cashback Rate:
Unltd Cashback & 0% Interest Instal Plan
Unltd Cashback With Best Sign-On Boost:
Unltd Cashback for Local Spenders
Unltd Cashback for Frequent Travellers

Compare Best Unlimited Cashback Cards by Dollar Value

Based on a high monthly spend of S$6,000, we analysed the best unlimited cashback 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.

A graph displaying how the best unlimited cashback credit cards compare to one another in terms of their rewards
Best Unlimited Cashback Cards in Singapore by Estimated 2-Year Dollar Value

Should You Consider an Unlimited Cashback Credit Card?

Many credit cards in Singapore advertise remarkably high rebate rates–sometimes up to 10%. However, most of these cards also have monthly earnings caps. Cardholders who spend enough to max out their rewards subsequently earn at a base rate of about 0.40% on remaining spend that month. For average and lower spenders, this may not be an issue. For example, you'd need to spend S$2,000 to max out a S$100 rewards cap at a 5% rebate rate.

Those with larger budgets, however, may quickly find themselves cut off, earning at the lower base rate on a sizeable fraction of their spend. Ultimately, consumers spending S$6,000+/month are most likely to benefit from unlimited cashback cards. While rates are lower (typically 1-2%), the lack of caps allows high spenders to earn up to their full potential.

Citi Cash Back+ Card: Highest Unlimited Flat Cashback Rate

  • Top unlimited flat cashback rate of 1.6%
  • Promotions: Free S$200 cash via PayNow (new customers) via our partnership with SGSaver
  • S$30 cash via PayNow (existing customers)
  • Read Our Full Review
  • Annual fee: S$192.6, waived for 1 year
  • Unlimited 1.6% rebate on all spend
  • No minimum spend requirements
Citi Cash Back+ Card stands out amongst other unlimited cashback cards by offering a higher flat rate than the market norm. In fact, cardholders earn 1.6% rebate on all of their purchases, compared to 1.5% with competitors. While this difference may not seem exceptionally large, its impact increases as budget size increases. This is particularly beneficial for the high spenders best fit to maximise rewards with Citi Cash Back+ Card. While there's a S$192.6 annual fee, it's waived the first year, allowing cardholders to accrue limitless cashback without worrying about added costs.
  • Stand-Out: Top unlimited flat cashback rate of 1.6%
  • Promotions: Free S$200 cash via PayNow (new customers) via our partnership with SGSaver
  • S$30 cash via PayNow (existing customers)
  • Read Our Full Review
  • Annual fee: S$192.6, waived for 1 year
  • Unlimited 1.6% rebate on all spend
  • No minimum spend requirements
Citi Cash Back+ Card stands out amongst other unlimited cashback cards by offering a higher flat rate than the market norm. In fact, cardholders earn 1.6% rebate on all of their purchases, compared to 1.5% with competitors. While this difference may not seem exceptionally large, its impact increases as budget size increases. This is particularly beneficial for the high spenders best fit to maximise rewards with Citi Cash Back+ Card. While there's a S$192.6 annual fee, it's waived the first year, allowing cardholders to accrue limitless cashback without worrying about added costs.

Standard Chartered Unlimited Cashback: Flat Rebate Rate & 0% Interest Instal Plan

  • 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Jabra Elite Active 75T Wireless Earbuds + S$20 cashback w/ MyInfo application (via partnership w/ SGSaver)
  • S$50 Grab vouchers for existing customers
  • 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
Affluent individuals who spend about S$7,000/month can earn more with Standard Chartered Unlimited Cashback Card than with just about any capped rebate card on the market. Consumers earn 1.5% flat cashback on all of their spend–both locally and overseas–without having to worry about minimum spend requirements or earnings caps.


SC Unlimited Card also comes with EasyPay, a 0% interest instalment plan that allows consumers to split purchases of S$500+ across 6 or 12 months. Unlike other instalment plans, EasyPay rewards cashback for purchases made on the plan (though there's a 5% processing fee which can offset earnings). As a result, SC Unlimited Cashback Card is a great option for high spending shoppers who may occasionally prefer to pay for larger transactions over time.

  • Stand-Out: 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Jabra Elite Active 75T Wireless Earbuds + S$20 cashback w/ MyInfo application (via partnership w/ SGSaver)
  • S$50 Grab vouchers for existing customers
  • 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
Affluent individuals who spend about S$7,000/month can earn more with Standard Chartered Unlimited Cashback Card than with just about any capped rebate card on the market. Consumers earn 1.5% flat cashback on all of their spend–both locally and overseas–without having to worry about minimum spend requirements or earnings caps.


SC Unlimited Card also comes with EasyPay, a 0% interest instalment plan that allows consumers to split purchases of S$500+ across 6 or 12 months. Unlike other instalment plans, EasyPay rewards cashback for purchases made on the plan (though there's a 5% processing fee which can offset earnings). As a result, SC Unlimited Cashback Card is a great option for high spending shoppers who may occasionally prefer to pay for larger transactions over time.

American Express True Cashback Card: Best Sign-On Rate Boost

  • 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
  • Welcome bonus of 3% cashback on up to S$5k spend in 1st 6mo
  • Receive S$60 CapitaVoucher w/ S$1k spend in 1st mo (new customers); existing customers receive S$30 voucher
  • 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
Amongst unlimited cashback cards, American Express True Cashback Card offers the best ongoing sign-on promotion available on the market. While the standing rate is 1.5% rebate on all spend, cardholders earn a boosted 3% cashback on spend (up to S$150) within their first 6 months. This reward can be maxed out with just S$5,000 spend, which is quite reasonable given those most likely to maximise rewards with Amex True Cashback Card would spend about S$7,000+ in just one month.


Cardholders can also benefit from perks like American Express Selects, Global Assist, and card-specific True Cashback offers. These deals often offer privileges and discounts at popular restaurants and lifestyle vendors–including wedding-related merchants. All in all, Amex True Cashback Card is a great option for high spenders who want the value of a top sign-on bonus paired with distinct Amex benefits.

  • 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)
  • Welcome bonus of 3% cashback on up to S$5k spend in 1st 6mo
  • Receive S$60 CapitaVoucher w/ S$1k spend in 1st mo (new customers); existing customers receive S$30 voucher
  • 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
Amongst unlimited cashback cards, American Express True Cashback Card offers the best ongoing sign-on promotion available on the market. While the standing rate is 1.5% rebate on all spend, cardholders earn a boosted 3% cashback on spend (up to S$150) within their first 6 months. This reward can be maxed out with just S$5,000 spend, which is quite reasonable given those most likely to maximise rewards with Amex True Cashback Card would spend about S$7,000+ in just one month.


Cardholders can also benefit from perks like American Express Selects, Global Assist, and card-specific True Cashback offers. These deals often offer privileges and discounts at popular restaurants and lifestyle vendors–including wedding-related merchants. All in all, Amex True Cashback Card is a great option for high spenders who want the value of a top sign-on bonus paired with distinct Amex benefits.

Maybank FC Barcelona Visa Signature: Unlimited Cashback for Local Spenders

  • 1.6% unltd local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive S$100 rebate w/ S$250 spend/mo for 2mo
  • Receive S$30 cash via PayNow (through our partnership w/ SGSaver)
  • 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 primarily local budget, you may want to consider Maybank FC Barcelona Visa Signature Card. Cardholders earn 1.6% cashback on all spend in Singapore, which parallels the highest unlimited rate currently on the market. In addition to this high rate, consumers also enjoy unique perks like discounts, promotions and sweepstakes related to FC Barcelona merchandise and games–perfect for sports enthusiasts.


It's important to mention, however, that overseas spend earns just 0.8 miles per S$1 (equal to about 0.8% cashback). As a result, this card is best fit for those with local budgets. Even still, nearly all high-spenders can benefit from Maybank FC Barcelona Card's easy fee waiver–the already low S$120.0 annual fee is waived with just S$10,000 annual spend. Most other unlimited cards offer just a 1st-year waiver. Ultimately, Maybank FC Barcelona Card is a great option for affluent local spenders, especially sports enthusiasts.

  • Stand-Out: 1.6% unltd local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive S$100 rebate w/ S$250 spend/mo for 2mo
  • Receive S$30 cash via PayNow (through our partnership w/ SGSaver)
  • 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 primarily local budget, you may want to consider Maybank FC Barcelona Visa Signature Card. Cardholders earn 1.6% cashback on all spend in Singapore, which parallels the highest unlimited rate currently on the market. In addition to this high rate, consumers also enjoy unique perks like discounts, promotions and sweepstakes related to FC Barcelona merchandise and games–perfect for sports enthusiasts.


It's important to mention, however, that overseas spend earns just 0.8 miles per S$1 (equal to about 0.8% cashback). As a result, this card is best fit for those with local budgets. Even still, nearly all high-spenders can benefit from Maybank FC Barcelona Card's easy fee waiver–the already low S$120.0 annual fee is waived with just S$10,000 annual spend. Most other unlimited cards offer just a 1st-year waiver. Ultimately, Maybank FC Barcelona Card is a great option for affluent local spenders, especially sports enthusiasts.

CIMB Visa Infinite Card: Unltd. Rebates for Affluent Golfers & Travellers

  • Unltd. travel & overseas cashback plus lounge & waived green fees
  • Promotions: Receive S$50 cash credit w/ S$200 monthly spend for 1st 2mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on all travel expenses & overseas spend
  • Unlimited 1% cashback on all other spend
  • Complimentary green fees at 108 fairways across 16 countries
  • Free travel insurance, 3x lounge access, discounted limo transfers
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Infinite Card is one of the few unlimited cards on the market that offers travellers the chance to rapidly maximise cashback rewards. While all spend earns at a base rate of 1% unlimited rebate, this rate is doubled to 2% on all travel expenses (airlines, hotels, travel agencies & more) and foreign currency transactions after reaching a monthly spend requirement of S$2,000. This is by far the highest unlimited cashback rate for overseas spend currently on the market.


CIMB Visa Infinite Card also stands out for its travel perks, which are typically associated with miles-earning cards. Cardholders enjoy free lounge access, discounted limo transfers, complimentary travel insurance and more. Consumers also can play up to 2 free games/month at fairways across 16 countries–one of the best golfing perks on the market. Perhaps best of all, there's never an annual fee. Overall, CIMB Visa Infinite Card is an ideal, maintenance-free cashback option for high spenders who frequently travel overseas.

  • Stand-Out: Unltd. travel & overseas cashback plus lounge & waived green fees
  • Promotions: Receive S$50 cash credit w/ S$200 monthly spend for 1st 2mo
  • Read Our Full Review
  • Annual fee: Free
  • Unlimited 2% cashback on all travel expenses & overseas spend
  • Unlimited 1% cashback on all other spend
  • Complimentary green fees at 108 fairways across 16 countries
  • Free travel insurance, 3x lounge access, discounted limo transfers
  • CIMB 0% Interest i.Pay Instalment Plan
CIMB Visa Infinite Card is one of the few unlimited cards on the market that offers travellers the chance to rapidly maximise cashback rewards. While all spend earns at a base rate of 1% unlimited rebate, this rate is doubled to 2% on all travel expenses (airlines, hotels, travel agencies & more) and foreign currency transactions after reaching a monthly spend requirement of S$2,000. This is by far the highest unlimited cashback rate for overseas spend currently on the market.


CIMB Visa Infinite Card also stands out for its travel perks, which are typically associated with miles-earning cards. Cardholders enjoy free lounge access, discounted limo transfers, complimentary travel insurance and more. Consumers also can play up to 2 free games/month at fairways across 16 countries–one of the best golfing perks on the market. Perhaps best of all, there's never an annual fee. Overall, CIMB Visa Infinite Card is an ideal, maintenance-free cashback option for high spenders who frequently travel overseas.

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

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.

Comments and Questions

{"endpoint":"\/newsletter\/subscribe","style":"blue","title":"Keep up with our news and analysis.","version":"sidebar"}