If you’re looking for a credit card that offers cashback on your daily expenses, the POSB Everyday Card might be just what you need. With no minimum spend required, you can earn cash rebates on categories like groceries, dining, and petrol. Plus, you can unlock even bigger savings when you achieve a qualified spend of S$800 in a calendar month.
However, it’s important to understand the minimum spend requirement to ensure you’re getting the most out of your POSB Everyday Card. While there’s no minimum spend required to earn cash rebates on certain categories, you’ll need to spend at least S$800 in a calendar month to unlock bigger savings. This can be a challenge for some cardholders, but with some careful planning, you can easily meet this requirement and earn even more cashback.
In this article, we’ll take a closer look at the POSB Everyday Card and its minimum spend requirement. We’ll also discuss the card’s key features, annual fees and charges, eligibility and application process, and how to maximise rewards and promotions. Whether you’re a new or existing cardholder, you’ll find valuable information to help you get the most out of your POSB Everyday Card.
Key Takeaways
- The POSB Everyday Card offers cashback on daily expenses with no minimum spend required.
- To unlock bigger savings, you’ll need to spend at least S$800 in a calendar month.
- By understanding the minimum spend requirement and maximizing rewards and promotions, you can earn even more cashback with the POSB Everyday Card.
Key Features of POSB Everyday Card
If you are looking for a credit card that offers cash rebates on your daily essentials, the POSB Everyday Card is definitely worth considering. Here are some of the key features of this card:
Cash Rebates on Daily Essentials
With the POSB Everyday Card, you can earn up to 10% cash rebates on your daily essentials, including groceries, online shopping, and dining. What’s more, there is no minimum spend required to enjoy these cash rebates. You can also get 0.3% cash rebates on other eligible spend.
Fuel Savings with SPC and More
If you are a car owner, you will be pleased to know that the POSB Everyday Card offers up to 20.1% cash rebates on fuel at SPC. In addition, you can also enjoy 2% cash rebates at SpeedyCare. There is no monthly cap imposed on these fuel savings.
Dining and Online Food Delivery Perks
The POSB Everyday Card also offers dining and online food delivery perks. You can enjoy up to 10% cash rebates on online food delivery, as well as discounts and deals at a wide range of dining establishments.
Other notable benefits of the POSB Everyday Card include up to 3% cash rebates on bill payments, capped at Daily$3 per month. You can also earn up to 5% cash rebates at Sheng Siong, capped at Daily$30 per month.
Overall, the POSB Everyday Card is a great choice if you are looking for a credit card that offers cash rebates on your daily essentials, fuel savings, and dining and online food delivery perks. With no minimum spend required to enjoy cash rebates and a wide range of benefits, this card is definitely worth considering.
Understanding the Minimum Spend Requirement
If you’re considering the POSB Everyday Card, you may have heard about the minimum spend requirement. In this section, we’ll explain what it is and how it affects your rebates. We’ll also provide some strategies to help you meet the minimum spend requirement and maximize your rewards.
How the Minimum Spend Affects Rebates
The POSB Everyday Card offers cash rebates on a variety of categories, including utilities, transport, groceries, and more. However, in order to qualify for these rebates, you must meet the minimum spend requirement. This means that you need to spend a certain amount of money on your card each month in order to receive the cash rebates.
For the POSB Everyday Card, the minimum spend requirement is $800 per month. If you don’t meet this requirement, you won’t receive any cash rebates for that month. However, if you do meet the requirement, you’ll receive cash rebates on all eligible transactions.
Strategies to Meet the Minimum Spend
If you’re having trouble meeting the minimum spend requirement, there are a few strategies you can use to help you reach the threshold. Here are some tips:
- Use your card for all your everyday expenses, such as groceries, dining, and transport.
- Consider using your card for larger purchases, such as electronics or furniture.
- Use your card to pay your utility bills, as these transactions are eligible for cash rebates.
- Take advantage of the POSB Everyday Card’s bonus categories, such as online food delivery and online shopping, to earn more cash rebates.
By using these strategies, you can help ensure that you meet the minimum spend requirement and receive the maximum cash rebates possible.
In conclusion, the minimum spend requirement is an important aspect of the POSB Everyday Card. By understanding how it works and using these strategies, you can maximize your rewards and get the most out of your card.
Annual Fees and Charges
If you are considering getting the POSB Everyday Card in Singapore, it is important to understand the annual fees and charges associated with the card.
Fee Waivers and Conditions
The annual fee for the POSB Everyday Card is S$196.20, but the good news is that it is waived for the first year. After that, you can enjoy a waiver of the annual fee for the next year if you spend a minimum of S$6,000 in a year.
If you are a SAFRA member, you can enjoy a waiver of the annual fee for the SAFRA DBS Card. However, SAFRA membership fee applies.
Comparing Costs with Benefits
When it comes to fees and charges, it is important to consider the benefits of the card. The POSB Everyday Card offers up to 10% cash rebates on daily essentials, which can help you save money on your regular expenses.
In addition to the cash rebates, the card also offers a 25-day interest-free period, which can help you manage your finances more effectively. However, it is important to note that the annual interest rate is 26.80% and the finance charge is a prevailing interest rate of 27.8% p.a. (subject to compounding if the charges are not repaid in full) on the transaction amount, chargeable on a daily basis from the date of transaction until receipt of full payment (Minimum charge: S$2.50).