Standard Chartered Unlimited Cashback vs. Amex True Cashback vs. Citi Cash Back+ Credit Card Comparison 2020

While there are many unlimited cashback cards on the market, Standard Chartered Unlimited Cashback, American Express True Cashback, and Citi Cash Back+ are amongst the most popular on the market. While quite similar in terms of rates, each of these cards is unique in its own way. To help you decide which might be right for you, we've provided a detailed breakdown of their comparative strengths and weaknesses.

  • Details of rebate system & structure
  • General & boosted cashback rates
  • Minimum spend requirements & monthly rewards caps
  • Maximum potential annual earnings
Comparison of Perks & Privileges
  • Travel insurance offerings
  • Current petrol promotions & savings
  • SimplyGo & mobile pay compatibility
  • Extra rebate programmes & card-specific privileges
Comparison of Fees & Requirements
  • Minimum age & minimum income requirements
  • Annual fees, spend-based waivers & sign-on bonuses
  • Foreign transaction fees

Comparison of Competitive Unlimited Cashback Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive unlimited cashback 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 competitive unlimited cashback credit cards compare to one another in terms of their rewards
Comparison of Competitive Unlimited Cashback Cards in Singapore by Estimated 2-Year Dollar Value

Comparison of Competitive Unlimited Cashback Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive unlimited cashback 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 competitive unlimited cashback credit cards compare to one another in terms of their rewards
Comparison of Competitive Unlimited Cashback Cards in Singapore by Estimated 2-Year Dollar Value

Summary Overview: Standard Chartered Unlimited Cashback vs. American Express True Cashback vs. Citi Cash Back+ Card

If you spend S$6-S$8k+/month, chances are you'll run into earnings caps with most rebate cards. In order to truly maximise your cashback potential, you may want to consider an unlimited card such as Standard Chartered Unlimited Cashback Card, American Express True Cashback Card or Citi Cash Back+ Card. While all of these cards provide a flat, uncapped rebate rate, they are slightly different when you take perks, fees and bonuses into consideration. We've explored these differences more closely in the review content below.

Summary Table: SC Unlimited vs. Amex True CB vs. Citi Cash Back+

CategoryFeatureSC UnlimitedAmex True CBCiti Cash Back+
RatesMin. Spend Req.N/AN/AN/A
Unlimited Rate
  • Local: 1.5%
  • Overseas: 1.5%
  • Local: 1.5%
  • Overseas: 1.5%
  • Local: 1.6%
  • Overseas: 1.6%
Earnings CapUnlimitedUnlimitedUnlimited
PerksPetrol SavingsUp to 21.46% fuel savings at CaltexUp to 20% fuel savings at SPCUp to 14% fuel savings at Esso & Shell
Transit FunctionSimplyGo CompatibleN/ASimplyGo Compatible
Digital WalletMobile Pay FunctionalityMobile Pay FunctionalityMobile Pay Functionality
Card PrivilegesThe Good Life Privileges, 0% Interest Instal PlanAmex Selects, Amex True Cashback Card OffersCiti World Privileges, Citi Gourmet Pleasures
FeesAnnual FeeS$192.6S$171.2S$192.6
Waiver OptionWaived for 2 yearsWaived for 1 yearWaived for 1 year
Additional details apply. See sections below or card websites for a further breakdown of information

Rewards Rates: SC Unlimited v. Amex True CB v. Citi Cash Back+

Standard Chartered Unlimited, Amex True Cashback and Citi Cash Back+ all offer flat rebate rates with no minimum spend requirements and no cap on earnings. This is ideal for high spenders who typically feel limited by traditional cashback cards (which often cap rewards at S$100/month or less). While rates are somewhat lower than what you'd earn with capped cards, higher spenders can ultimately earn more with an unlimited card at the S$6k–S$8k/month budget point.

Comparison Table: Unlimited Cashback Rewards

FeatureSC UnlimitedAmex True CBCiti Cash Back+
Rebate SystemMonthly SystemMonthly SystemMonthly System
Rate StructureFlat & UnlimitedFlat & UnlimitedFlat & Unlimited
Min. Spend Req.N/AN/AN/A
Rewards Rate
  • Local: 1.5%
  • Overseas: 1.5%
  • Local: 1.5%
  • Overseas: 1.5%
  • Local: 1.6%
  • Overseas: 1.6%
Bonuses
  • New cardholders will receive a Nespresso Inissia Coffee Machine & Aeroccino 4 Milk Frother w/ 1 transaction
  • Existing cardholders will receive S$30 worth of GrabFood voucher
  • Get S$120 cash via PayNow, must make S$500 spend on eligible purchases within the first 30 days of card approval
  • Welcome bonus of 3% cashback on up to S$5k spend in 1st 6mo
  • New cardholders get a set of Airpods Pro (worth S$379) or S$300 upon activating and spending within 60 days of approval
  • S$30 cash via PayNow (existing customers)
Bonuses shown are not comprehensive; additional promotions may apply. See card websites for a further breakdown of information

At first, all three of these cards look quite similar. Both SC Unlimited Card and Amex True Cashback Card offer a flat 1.5% cashback on all purchases, both locally and overseas. Citi Cash Back+ Card offers a slightly higher 1.6% flat cashback. However, once their bonuses are taken into consideration, their differences become more apparent. Amex True Cashback Card particularly stands out on this front. As a mainstay, it offers new cardholders a boosted 3% cashback on their 1st S$5k spend within 6 months. Additionally, cardholders can now earn a bonus +1% on their foreign currency transactions (adding up to a 2.5% total rebate), which is higher than the rates offered by any of its competitors. While it may not last, Citi Cash Back+ Card is also boosting its unlimited rate for the 1st 3 months. As it's still a fairly new card, this may just be a temporary attraction to draw new consumers.

Card Privileges: SC Unlimited v. Amex True CB v. Citi Cash Back+

SC Unlimited, Amex True Cashback and Citi Cash Back+ Card also stand apart in terms of privileges. Each has their respective advantages. To begin with, SC Unlimited Card offers the convenience of both SimplyGo and mobile pay functionality, plus competitive petrol savings and dining & lifestyle discounts through The Good Life programme. Cardholders can also take advantage of its 0% interest instalment plan, breaking up larger transactions over up to 36 months. Unlike most instalment plans, this option allows consumers to earn rewards on purchases made on the plan. One drawback, however, is that SC Unlimited Card does not offer a free travel insurance plan. As such, it may be slightly less attractive to frequent travellers.

Amex True Cashback Card has its own strengths. Cardholders enjoy a fairly comprehensive free travel insurance plan, plus petrol savings and mobile pay compatibility. Consumers have access to Amex services such as 24-hour Customer Care, Global Assist and Fraud Protection, plus special dining & lifestyle discounts via the Amex Selects programme. Consumers can also enjoy card-specific True Cashback deals, which offer savings on everything from wedding venues to hotel and flight bookings. Unfortunately, Amex True Cashback Card does not have SimplyGo functionality. Wealthier consumers who rarely use public transit may not feel inconvenienced by this, however.

Comparison Table: Card Perks & Privileges

FeatureSC UnlimitedAmex True CBCiti Cash Back+
Travel InsuranceN/AUp to S$350k Personal Accident; Travel InconvenienceUp to S$1M Personal Accident; Medical Assistance; Travel Inconvenience
Petrol SavingsUp to 21.46% fuel savings at CaltexUp to 20% fuel savings at SPCUp to 14% fuel savings at Esso & Shell
Transit PerksSimplyGo CompatibleN/ASimplyGo Compatible
Mobile PayGoogle Pay, Apple Pay, Samsung Pay & moreGoogle Pay, Apple Pay, Samsung Pay, Amex PayGoogle Pay, Apple Pay, Samsung Pay
Card PrivilegesThe Good Life Privileges, 0% Interest Instal PlanAmex Selects, Amex True Cashback Card OffersCiti World Privileges, Citi Gourmet Pleasures
Additional details apply. See card websites for a further breakdown of information

Finally, Citi Cash Back+ Card offers a well-balanced variety of perks that include SimplyGo and mobile pay compatibility and one of the most comprehensive free travel insurance plans on the market. In fact, cardholders receive personal accident coverage of up to S$1 million, plus medical assistance coverage and even travel inconvenience coverage for missed flights, lost baggage & more. As with most Citi cards, consumers can also enjoy a myriad of dining, travel and lifestyle perks through Citi World Privileges and Citi Gourmet Pleasures. However, Citi Cash Back+ Card does not come with particularly attractive petrol savings or a 0% interest instalment plan.

Fees & Requirements: SC Unlimited v. Amex True CB v. Citi CB+

SC Unlimited Cashback, Amex True Cashback and Citi Cash Back+ Cards all have fairly similar fees and requirements. These cards stand out from several traditional cashback cards as there aren't any spend-based waiver options, which make it easier to avoid paying a fee. Even still, cardholders may be able to call into their bank and request a waiver extension. If the cardholder's account is in good standing, the annual fee may be waived. However, there are no guarantees.

Comparison Table: Requirements, Promos & Fees

FeatureSC UnlimitedAmex True CBCiti Cash Back+
Minimum Age21 yo21 yo21 yo
Minimum Income
  • SG & PR: S$30,000
  • Foreigners: S$60,000
  • SG & PR: S$30,000
  • Foreigners: S$60,000
  • SG & PR: S$30,000
  • Foreigners: S$42,000
Annual FeeS$192.6S$171.2S$192.6
Waiver OptionWaived for 2 yearsWaived for 1 yearWaived for 1 year
FX Fee3.50%2.50%3.25%
Additional details apply. See card websites for a further breakdown of information

Comparison to Similar Unlimited Cashback Credit Cards

While SC Unlimited Cashback, Amex True Cashback and Citi Cash Back+ may be the best-known unlimited cards on the market, they are not the only options. These cards are also uncapped and offer special bonuses and perks worth considering.

Maybank FC Barcelona Visa Signature: Unlimited Local Cashback

  • 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, consider Maybank FC Barcelona Visa Signature Card. Cardholders earn 1.6% unlimited cashback in Singapore, which is higher than the rates offered by either SC Unlimited or Amex True Cashback. Cardholders earn at a far lower rate overseas, however. In fact, every S$1 spend earns 2 points, equal to 0.8 miles. This is roughly equal to 0.8% cashback in value.


Maybank FC Barcelona Card does stand out in other ways, however. Cardholders receive free travel insurance and special deals and savings at FC Barcelona official stores. Perhaps best of all, consumers who spend just S$10k annually are exempt from the already low S$120 annual fee. None of the unlimited cards featured offer a spend-based fee-waiver, so Maybank FC Barcelona Card is a great option for local high-spenders seeking a low-maintenance card.

  • 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, consider Maybank FC Barcelona Visa Signature Card. Cardholders earn 1.6% unlimited cashback in Singapore, which is higher than the rates offered by either SC Unlimited or Amex True Cashback. Cardholders earn at a far lower rate overseas, however. In fact, every S$1 spend earns 2 points, equal to 0.8 miles. This is roughly equal to 0.8% cashback in value.


Maybank FC Barcelona Card does stand out in other ways, however. Cardholders receive free travel insurance and special deals and savings at FC Barcelona official stores. Perhaps best of all, consumers who spend just S$10k annually are exempt from the already low S$120 annual fee. None of the unlimited cards featured offer a spend-based fee-waiver, so Maybank FC Barcelona Card is a great option for local high-spenders seeking a low-maintenance card.

CIMB Visa Infinite Card: Uncapped Cashback for Travellers

  • Unltd. travel & overseas cashback plus lounge & waived green fees
  • Promotions: Receive S$100 cash credit w/ S$350 monthly spend for 1st 2mo (new customers)
  • 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 the best option for affluent travellers who prefer earning cashback to miles. Cardholders earn an unlimited 1% cashback locally, boosted to 2% on travel and overseas with just S$2k minimum spend. This overseas rate is quite competitive, beating out most of its unlimited card competitors'. Beyond offering uncapped cashback, CIMB Visa Infinite Card also provides great travel perks, including free travel insurance, waived green fees, complimentary lounge access and even discounted limo transfers. Best of all, there's no annual fee, so consumers can take advantage of these perks for free.
  • Stand-Out: Unltd. travel & overseas cashback plus lounge & waived green fees
  • Promotions: Receive S$100 cash credit w/ S$350 monthly spend for 1st 2mo (new customers)
  • 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 the best option for affluent travellers who prefer earning cashback to miles. Cardholders earn an unlimited 1% cashback locally, boosted to 2% on travel and overseas with just S$2k minimum spend. This overseas rate is quite competitive, beating out most of its unlimited card competitors'. Beyond offering uncapped cashback, CIMB Visa Infinite Card also provides great travel perks, including free travel insurance, waived green fees, complimentary lounge access and even discounted limo transfers. Best of all, there's no annual fee, so consumers can take advantage of these perks for free.

Learn More About Finding 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.

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