POSB Everyday Card: Is It Worth it?

POSB Everyday Card: Is It Worth it?

Easy Cashback for Everyday Spenders in Singapore & Malaysia

Good for

  • Families with highly diversified spend
  • People with large food budgets
  • Commuters seeking a convenient, an all-in-one card

Bad for

  • People who consistently spend S$2k+/mo
  • Travellers looking for miles or privileges
  • Individuals who prefer a no-fee card

Analyst's Rating

4.5/5.0

POSB Everyday Card is a great option for moms and families who spend across a variety of categories. While rates shift with promotional changes, cardholders are frequently rewarded with high rates for spend in essential categories. For example, consumers typically earn rebates of up to 8% on online food delivery and 5% on grocery purchases, plus up to 20% in fuel savings. Even with its annual fee of S$192.6 (waived the first year), average spenders can quickly recoup the cost while earning additional rewards for daily spend.

ProsCons
  • Up to 8% rebate on online food delivery
  • 5% rebate on groceries
  • 3% rebate on personal care at Watsons
  • 3% rebate on online shopping and other dining spend
  • 1% rebate on recurring bills
  • Up to 20.1% fuel savings at SPC
  • Annual fee waived only the 1st year
  • Min. spend requirement varies by consumer
  • Consumers who don't meet the minimum spend earn 0.3%
  • Low caps for recurring bills (S$1/month)
Promotions:
  • Use code FLASH250 and get S$250 cashback when you apply and make 1 qualifying transaction within 30 days of card approval (until Mar.8,2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Switch from SP regulated tariff to Geneco and get S$50 Geneco rebate & S$20 grocery voucher (until Feb.28,2021)
Card Overview
Pros:
  • Up to 8% rebate on online food delivery
  • 5% rebate on groceries
  • 3% rebate on personal care at Watsons
  • 3% rebate on online shopping and other dining spend
  • 1% rebate on recurring bills
  • Up to 20.1% fuel savings at SPC
  • Promotions: Use code FLASH250 and get S$250 cashback when you apply and make 1 qualifying transaction within 30 days of card approval (until Mar.8,2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Switch from SP regulated tariff to Geneco and get S$50 Geneco rebate & S$20 grocery voucher (until Feb.28,2021)
Cons:
  • Annual fee waived only the 1st year
  • Min. spend requirement varies by consumer
  • Consumers who don't meet min. spend earn 0.3%
  • Low caps for recurring bills (S$1/month)

What Makes POSB Everyday Card Stand Out

POSB Everyday Card offers families and average spenders a convenient way to earn cashback for diversified spend. Consumers typically earn rebates on dining, groceries, petrol, health and wellness, transport, and even recurring bills–which are often excluded from cashback rates. Although some rates apply only to specific merchants, they are mostly big brands that are quite prevalent: up to 20.1% petrol savings with SPC, 5% at Sheng Siong, and 3% on wellness products at Watsons (an added benefit, as most everyday cards do not reward for personal care). Consumers also earn 1% cash rebate on recurring bills with select merchants, but earnings are capped at just S$1 per month, which is quite low.

POSB Everyday Card does offer promotional rebates that are not merchant specific. Currently, cardholders earn up to 8% cashback on online food delivery from Foodpanda and Deliveroo. One drawback is that these promotional rates are contingent on reaching a Personalised Spend Goal, which DBS assigns on a person-to-person basis according to average spending patterns. If a cardholder fails to meet this minimum, they will only be rewarded with a base rebate of 0.3%.

POSB Everyday Card Rebates Chart

Spend CategoryMax. Rebate
Dining: Online Food Delivery8%
Groceries: Sheng Siong5%
Shopping:Amazon.sg, Lazada, Qoo10 and Shopee3%
Transport and Fuel2%
  • Recurring Bills: Best Electricity, Geneco, Ohm Energy, iSwitch, Tuas Power,
  • Union Power, SP Group, StarHub
1%
All Other Spend0.3%

While POSB Everyday Card is quite versatile, category rewards rates may still be lower than some competitors'. For example, CIMB Platinum MasterCard offers 10% cashback on dining, transport, medical spend and more, and OCBC 365 Card offers 3% cashback on recurring telco and electricity bills. Nonetheless, POSB Everyday Card often offers promotional rates in key categories (like online food delivery) that boost the card's value significantly.

Overall, POSB Everyday Card proves an exceptional fit for those with a high volume of spend on daily essentials. While the annual fee of S$192.6 is waived only the first year, the broad range of cashback opportunities allow average consumers to quickly recoup this cost while continuing to earn rewards.

How Does POSB Everyday Card Rewards Program Work?

Use our quick and easy-to-read guide below to learn how you can redeem POSB Everyday Card rewards.

  • Every 1 dollar of cashback earned is equal to S$1
  • Cashback is credited to the cardholder's account monthly
  • Cashback is automatically forfeited and is non-transferable when an account is closed

POSB Everyday Card's Features and Benefits:

Card Overview
  • Annual Fee: S$192.60, Waived for annual spend of S$12,000
  • Income Requirement: 30000 for locals, 45000 for foreigners
  • Annual fee: S$192.60 (first year - waived)
  • 8% rebate on online food delivery, 5% rebate on groceries at Sheng Siong
  • 3% rebate on dining and online shopping, 2% rebate on transport and fuel (up to 20.1% fuel savings at SPC)
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend

Benefits & Perks
  • 0% interest instalment plan with no processing fee
  • SimplyGo/ABT capabilities for public transit fares
Promotions:
  • Use code FLASH250 and get S$250 cashback when you apply and make 1 qualifying transaction within 30 days of card approval (until Mar.8,2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Switch from SP regulated tariff to Geneco and get S$50 Geneco rebate & S$20 grocery voucher (until Feb.28,2021)

POSB Everyday Card Rewards Exclusions

Some credit card expenditures are ineligible for cash back or rebate. We identify these exclusions in the table below.

Balance transfers, cash advances, My Preferred Payment Plan monthly transactions, annual fees, interest charges, cheque processing fees, administrative fees, cash advance fees, finance charges, late payment charges, 0% interest-free instalment payment plan transactions, refunds into card account, pre-authorisation transactions (ie, hotel bookings), any other miscellaneous fees and charges imposed by POSB
Payment of funds to prepaid accounts and merchants who are categorised as payment service providers and/or online payment gateway (MoneySend, Skrill, Matchmove, SmoovPay, CardUp, iPaymy, GrabPay, Youtrip & more); payments made via AXS, SAM online bill payments, all other bill payments via internet banking; NETS transactions
Payments to government institutions (court cases, fines, bail and bonds, tax payments, postal services, parking lots other than ParkingSg, garages, intra-government purchases and any other government services); payments to financial institutions (banks, brokerages, insurance companies for sales, underwriting and premiums, schools, hospitals and professional service providers); charities and donations
Betting including lottery tickets, casino gaming chips, off-track betting, wagers at race tracks, gambling through any channel

How does POSB Everyday Card Compare Against Other Cards?

Read our comparisons of POSB Everyday 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.

POSB Everyday Card is a market leader in value-to-consumer after two years, based on an average monthly spend of S$2,000

POSB Everyday Card v. OCBC 365 Card

Consider this if you want a no-fee cashback card for food purchases, utilities and online travel bookings

Annual Income Requirement 30000
Foreigner Income Requirement 45000

OCBC 365 Card is a great cashback card with an easily waivable annual fee for consumers with diversified spend. Consumers earn rebates of up to 6% for dining and online food delivery, 3% for groceries, transportation, online travel bookings and recurring bills, plus 5% on fuel spend (up to 22.1% fuel savings at Caltex and up to 20.2% fuel savings at Esso). The annual fee of S$192.60 is waived for 2-years, and then after with each S$10,000 annual spend, making OCBC 365 Card great for no-maintenance cashback. However, while the card offers higher utilities and online travel rebates than POSB Everyday Card, it offers lower rates for groceries and transport, and does not reward personal care. Consumers who prioritise avoiding an annual fee and make travel bookings online might prefer OCBC 365 Card, while those who spend regularly on personal care might prefer POSB Everyday Card.

POSB Everyday Card v. Citi SMRT Card

Consider this if you want to earn cashback on your daily commute on public transit

Annual Income Requirement 30000
Foreigner Income Requirement 42000

Citi SMRT Card offers young professionals a convenient way to earn cashback on essentials like public transit, groceries, and recurring bills. Citi SMRT Card and POSB Everyday Card both have all-in-one functionality, combining cashback, ATM, and SMRT card into one. The cards offer similar rewards rates for dining (5%) and groceries (5%), but Citi SMRT Card limits dining to fast food and coffee chains. Citi SMRT Card also offers a 5% rebate on movie theater expenses, 3% on online shopping, and 2% on Auto Top-Ups. Young professionals can benefit from the fact that Citi SMRT Card has no minimum spend requirement, compared to POSB Everyday Card, which has a Personalised Spend Goal requirement for unlocking promotional rates.

POSB Everyday Card v. Maybank Family & Friends MasterCard

Consider this if you spend most of your time in Singapore and Malaysia

Annual Income Requirement 30000
Foreigner Income Requirement 60000

Maybank Family & Friends MasterCard is an exceptional everyday option for people with low to mid-size budgets who primarily spend in Singapore and Malaysia. Cardholders earn up to 8% cashback in key categories–fast food & food delivery, groceries, transport, petrol, data communications/online TV streaming & more–after just S$800 minimum spend (5% with S$500 minimum spend). What sets Maybank F&F Card apart from POSB Everyday Card is that there are no merchant restrictions, making the card quite a bit more convenient. Additionally, the S$180 fee is waived for 3 years, and thereafter with S$12,000 annual spend. Overall, people with strongly regional budgets and who value flexibility might prefer Maybank F&F Card.

POSB Everyday Card v. Citi Cash Back Card

Consider this if you spend mostly on food and petrol

Annual Income Requirement 30000
Foreigner Income Requirement 42000

Consumers with high spend on food and petrol can benefit from Citi Cash Back Card. With a minimum qualifying spend of S$888 per month, cardholders earn 8% cashback on dining, groceries, and petrol worldwide (and frequently, 8% cashback on a rotating promotional category). While the base rate is only 0.25% and the annual fee of S$192.6 is only waived the first year, Citi Cash Back Card rewards purchases that fall within the top two expenditures in an average spender's monthly budget. In other words, Citi Cash Back Card maximises earnings for what Singaporeans regularly spend most on. However, consumers with a more diversified spend and who prioritise the convenience of an all-in-one card might instead prefer POSB Everyday Card.

POSB Everyday Card v. UOB One Card

Consider this if you want to maximise your cash rebate and spend about S$2,000 per month

Annual Income Requirement 30000
Foreigner Income Requirement 80000

For consumers with a stable budget of at least S$2,000 per month, UOB One Card provides an excellent way to earn high cashback for all spend. UOB One Card offers rewards according to a quarterly rebate system. In order to maximise earnings, cardholders would need to spend S$2,000 per month for 3 consecutive months, earning a S$300 quarterly rebate (S$1,200 per year!). Consumers who spend even slightly less can only earn a fraction of this amount (S$100 quarterly rebate for S$1000 monthly spend, S$50 for S$500 monthly spend). As a result, cardholders with a stable or predictable budget of at least S$2,000 are best fit for UOB One Card. Consumers with a fluctuating budget, or those who rarely spend S$2,000 per month, might instead consider the ease and convenience of POSB Everyday Card for earning rewards on essentials.

Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, helping consumers find the best credit cards and other financial products based on quantitative and qualitative analysis. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research, and led development & operations and BellaVetro. She attended Duke University and Penn State University, graduating with a degree in Political Science and Government. Her work has been featured on a variety of major media such as Yahoo Finance, Asia One, Buro, Zuu Online and more.

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