Are you looking to get more out of your credit card? Cashback credit cards are a great way to earn back some of the money you spend on your everyday purchases. With so many options available in Singapore, it can be challenging to choose the best one for you.
In this article, we will guide you through the top cashback credit cards in Singapore, how to maximize your rewards, and understand the fine print. We will also answer some frequently asked questions to help you make an informed decision on which card is right for you. So, let’s dive in and find the best cashback credit card for you!
Key Takeaways
- Understand the benefits of cashback credit cards and how they can help you earn back money on your everyday purchases.
- Discover the top cashback credit cards in Singapore and how to maximize your rewards.
- Learn how to understand the fine print and choose the best cashback credit card for your needs.
Understanding Cashback Credit Cards
If you’re looking for a way to get rewarded for your daily spending, cashback credit cards are a great option. With a cashback credit card, you earn a percentage of your spending as cashback rewards. Here’s what you need to know about how cashback credit cards work and the benefits they offer.
How Cashback Credit Cards Work
When you use a cashback credit card for your transactions, you earn a percentage of your spending back as cashback rewards. The cashback rate varies depending on the card, but it’s usually between 1% and 5% of your spending. Some cards offer higher cashback rates for specific categories, such as groceries or dining.
Cashback credit cards usually have a rebate cap, which means there is a limit to the amount of cashback you can earn. Once you reach the cap, you won’t earn any more cashback rewards until the next billing cycle. It’s important to check the rebate cap before applying for a cashback credit card to ensure it fits your spending habits.
Benefits of Cashback Credit Cards
The main benefit of cashback credit cards is the rewards you earn for your spending. You can use the cashback rewards to offset your credit card bill or redeem them for other rewards, such as vouchers or gifts.
Cashback credit cards also offer other benefits, such as:
- No annual fee: Many cashback credit cards don’t charge an annual fee, which means you can enjoy the rewards without paying extra.
- Sign-up bonus: Some cashback credit cards offer sign-up bonuses, such as cashback or vouchers, when you apply and spend a certain amount within the first few months.
- Additional perks: Some cashback credit cards offer additional perks, such as travel insurance or discounts at partner merchants.
Overall, cashback credit cards are a great way to earn rewards for your spending. Just be sure to choose a card with a cashback rate and rebate cap that fits your spending habits.
Top Cashback Credit Cards in Singapore
If you’re looking for a credit card that can help you save money while you spend, a cashback credit card is a great option. Singapore has a wide range of credit cards that offer cashback on various categories such as dining, groceries, petrol, and more. In this section, we’ll take a look at the top cashback credit cards available in Singapore.
UOB One Card
The UOB One Card is a popular choice for those looking for a cashback credit card. With this card, you can earn up to 5% cashback on all your spending. To qualify for the maximum cashback, you’ll need to spend at least $2,000 per month for three consecutive months. The card also offers additional benefits such as discounts on petrol and dining.
Citi Cash Back Card
The Citi Cash Back Card is another great option for cashback rewards. With this card, you can earn up to 8% cashback on groceries and dining, 6% cashback on petrol, and 0.25% cashback on all other spending. The card also offers additional benefits such as discounts on movie tickets and access to Citi World Privileges.
OCBC FRANK Card
The OCBC FRANK Card is a popular choice for those looking for a cashback credit card with no minimum spend requirement. With this card, you can earn up to 6% cashback on online shopping, 5% cashback on entertainment, and 3% cashback on dining. The card also offers additional benefits such as discounts on travel bookings and access to FRANK Store discounts.
DBS Live Fresh Card
The DBS Live Fresh Card is a cashback credit card that is great for young adults. With this card, you can earn up to 5% cashback on online shopping and Visa contactless payments. The card also offers additional benefits such as discounts on travel bookings and access to DBS Lifestyle privileges.
POSB Everyday Card
The POSB Everyday Card is a great option for those looking for a cashback credit card that offers savings on daily essentials. With this card, you can earn up to 8% cashback on groceries, 5% cashback on dining, and 1% cashback on recurring bills. The card also offers additional benefits such as discounts on petrol and access to POSB