Everyone likes free money. And everyone who likes free money should be using a credit card. After all, you you have to spend money on something anyway. CIMB Visa Signature Card is just such a card that grants its users free rewards. It costs absolutely nothing to use and has no monthly minimum spend. While it has low cashback rate on general purchases, its 10% rebate on dining is top of the industry. Although it doesn’t reward any miles, it could double up as a travel card due to its low foreign transaction fee of 1% and complimentary travel insurance. Since it’s free and doesn’t take much work to manage, why not get one and get 10% off your meals?
Pros of CIMB Visa Signature Card
- No annual fee
- 10% cashback on dining expenditures & foreign currency online transactions
- 1% foreign exchange transaction fee
- Promotions: Up to S$150 bonus cash credit when you spend S$300 per month for 6 months
Cons of CIMB Visa Signature Card
- 0.2% cash rebate on everything else
- 10% cashback is capped at S$60 per month & requires a minimum of 8 transactions of S$30 or more and aggregate expenditure of S$500 per month
What makes CIMB Visa Signature Card Stand Out
For people who are sensitive to annual fees and minimum spend, CIMB Visa Signature Card is a great card that earns high level of cashback for your dining experience. First of all, it charges you nothing to use the card and it’s really easy to use. This means everything you get out of the card is absolutely free. It also has a fairly low salary requirement of S$30,000 for Singapore citizens and residents, and S$48,000 for foreigners.
Then there are the free cashback benefits you get just by using this card. CIMB Visa Signature Card provides 10% cashback on your restaurant bills, making it the top dining reward card in Singapore. That means you get a free meal for every 10 times you eat or drink at a restaurant with you friends and family. All you need to do qualify for this benefit is to make 8 transactions of S$30 or more on the card every month and meet the minimum monthly spend of S$500. Frequent wine & diners should be able to easily satisfy this condition. It also provides 10% cash rebate on online purchases in foreign currencies, coupled with unlimited 0.2% cash rebate on everything else. If you are on a budget, this card is a nice addition to your wallet that will slim your bill daily.
This card also provides a very low 1% foreign transaction fee, complimentary travel insurance, and access to Via Signature privileges & CIMB regional deals. This means you can enjoy discounts even when you are travelling abroad. Sure, this card doesn’t award you with air miles and free flights, but a lot of the cards that do provide those perks cost a lot of money and require monthly minimum spend. This card has almost no requirement whatsoever, and every benefit you get out of it is free!
CIMB Visa Signature Card's Features and Benefits:
- Annual Fee: No annual fee
- Annual Income Requirement: S$30,000 for locals, S$48,000 for foreigners
- APR: 25%
- Only 1% foreign transaction fee, lowest in the country
- 10% cashback for wine and dine and foreign currency online transactions (S$500 monthly spend + 8 x S$30 monthly transactions)
- Unlimited 0.2% cash rebate on everything else
- Complimentary travel insurance
- Exclusive visa signature privileges
- Access to CIMB regional deals in SE Asia
- 10% cash rebate is capped at S$60 per month, earn 0.2% cash rebate afterwards
How does the CIMB Visa Signature Card Compare Against Other Cards?
Read our comparisons of CIMB Visa Signature card with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.
CIMB Visa Signature vs Citi Cashback Card
If you like to eat well both in and out of home, Citi Cashback Credit Card provides a nice way to combine the two categories into one card. Citi Cashback provides 8% rebate on all your groceries AND dining. While the annual fee of S$192.6 is on the higher end for cashback cards, Citi Cashback Card does its best to help offset the high cost. First, they waive 1st year’s annual fee. And then, they will also provide S$120 of cash rebate over 6 months as long as you spend S$200 or more on the card every month. That means this card effectively only costs S$70 to use for the first two years. If you want to save money on all of your food expenses whether you eat at home or at restaurants, Citi Cashback could be the better option in our opinion. However, if you take care of your meals predominantly by eating out or if you have a great grocery cashback card already, you can probably save more money on your meals by using CIMB Visa Signature.
CIMB Visa signature vs UOB Delight
If you tend to only dine at home, UOB Delight Card might be a better way to save money than CIMB Visa Signature card. UOB Delight provides 8% rebate at various retailers like Cold Storage, Giant and Guardian, matching Citi Cashback though with some limitations on locations. Where UOB Delight really outshines Citi Cashback is the additional 10% discount on house brands at the aforementioned supermarkets. UOB Delight also comes with other rebates like 3% off monthly telco bills and contactless transactions like public bus rides. Hence, you can save more money on your grocery shopping (including transportation back and forth) using UOB Delight than any other card in the market.
CIMB Visa signature vs CIMB Visa Infinite Card
CIMV Visa Infinite Card is a flat rate cashback card rewarding 1% cashback on all local expenses, and 2% cashback on all overseas expenses. Otherwise, it’s almost exactly like CIMB Visa Signature card. It’s a cheap and easy to use card that is versatile and can double up as a travel card since it has low foreign transaction fee and provides access associated with Visa privileges.
CIMB Visa signature vs CIMB Platinum MasterCard Credit Card
CIMB Platinum Mastercard Credit Card is almost identical to CIMB Visa Signature card, except that the 10% rebate is on travel, health, beauty and wellness instead of dining. Otherwise, this card also has no fee or monthly minimum spend. So we would recommend either card depending on which category of expense is more important to you.