If you’re a savvy spender, getting the most cash back for your spending is a must. But researching the best card can be a tedious process.
We’ve sifted out the best rebates so that you don’t have to. The choices below span a variety of different categories and minimum spend requirements. Here’s our list of the best cashback credit cards in 2024:
- UOB One
- UOB EVOL
- HSBC Visa Platinum
- Citi Cash Back
- CIMB Visa Signature
- OCBC Frank
- OCBC 365
- Maybank Family & Friends
- Bank of China Family Card
Overview of the Best Cashback Credit Cards
| Card | Minimum Spend | Cashback Rates | Highest Cashback Categories | Cashback Cap |
|---|---|---|---|---|
| UOB One | S$2,000 | 3.33% to 10% | Public transport, Grab, online shopping, daily essentials, travel | S$200 per quarter |
| UOB EVOL | S$600 | 0.3% to 8% | Online shopping, mobile contactless spend | S$60 per month |
| HSBC Visa Platinum | S$600 (all 3 months in the quarter) | 5% | Dining, groceries, and fuel | S$250 per quarter |
| Citi Cash Back | S$800 | 0.25% to 8% | Groceries, petrol, and dining worldwide | S$80 per month |
| CIMB Visa Signature | S$800 | 0.2% to 10% | Online shopping, groceries, pet retail, vet services, beauty and wellness, cruises | S$100 per month |
| OCBC Frank Credit Card | S$600 | 0.3% to 6% | Online shopping, Grab, digital subscriptions, mobile contactless spend, foreign currency transactions | S$75 per month |
| OCBC 365 | S$800 | 0.3% to 6% | Dining, food delivery, and fuel | S$80 per month |
| Maybank Family & Friends | S$800 | 0.3% to 8% | Choose 5 from these 10 options: Transport, dining, food delivery, groceries, mobile/internet/TV plans, entertainment, online fashion shopping, pharmacies, retail and pets, sports, beauty and wellness | S$125 per month |
| Bank of China Family Card | S$800 | 0.3% to 10% | Dining, movies, and Family Club merchants like Best Denki, POPULAR Bookstore, and Watsons | S$100 per month |
1. UOB One Card
UOB One Credit Card
This is a good card to have since it has one of the highest cashback rates on our list. The caveat here is that you need to spend at least S$2,000 per month to unlock all its goodness.
There are three tiers of cashback for this card:
| Up to 10% cashback | For spending at a wide range of categories such as public transport, Grab, Dairy Farm merchants (Cold Storage, Giant, 7-Eleven, Guardian, CS Fresh, Marketplace, Jasons and Jasons Deli) and UOB Travel (Cardmembers who accumulate S$200 quarterly cashback in these categories will get an additional 6.67% cashback and additional 1.67% cashback on Shell transactions.) |
| Up to 4.33% cashback | For SP utility bills (Cardmembers who qualify for quarterly cashback will get the base rate of 3.33% + bonus 1% cashback on utilities.) |
| Base rate of 3.33% cashback | For all retail spend, provided you make 5 transactions monthly for 3 consecutive months. Spending S$500, S$1,000, or S$2,000 raises the cashback cap to S$50, S$100, or S$200 respectively per quarter. |
The tiering system can get complicated at times, so UOB has provided a rebate calculator to help you estimate the cashback you can earn.
Annual Fee: S$194.40 with fee waiver for first year
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom It’s Best For: Families with a car and who shop at Dairy Farm merchants such as Cold Storage, Giant, Guardian, and Jasons Deli. You’ll maximise your cashback only if you can spend at least S$2,000 on this card.
2. UOB EVOL Card
UOB Evol Credit Card
Previously known as UOB YOLO, the UOB EVOL card requires only S$600 minimum monthly spend for maximum cashback. The two tiers of cashback are:
| 8% cashback | On all mobile contactless and online spend including dining, entertainment, shopping, Grab transactions, and hotel bookings |
| 0.3% cashback | On all other spend or if the minimum monthly spend is not met |
There’s a S$60 cashback cap per month, which is broken down into S$20 on online spend, S$20 on mobile contactless spend, and S$20 on all other spend. Cardholders also get an automatic annual fee waiver if they make at least three transactions monthly for 12 consecutive months.
Annual Fee: S$194.40, with fee waiver when cardholder makes at least three transactions per month for 12 consecutive months before the card anniversary date
Eligibility: Minimum 21 years old with at least S$30,000 annual income or S$10,000 fixed deposit collateral
Whom Is It Best For: Digitally-savvy shoppers who embrace the concept of a cashless society.
3. HSBC Visa Platinum
HSBC Visa Platinum Credit Card
Made from 85.5% recycled plastic, this eco-friendly card offers a 5% rebate for dining, groceries and fuel. But there’s one condition: you’ll neeed to charge at least S$600 monthly for three consecutive months to unlock the 5% rate. You’ll also only get the cashback up to two months afterwards, and rebates are capped at S$250 per quarter.
But this may be of some comfort: you’ll get a two-year annual fee waiver up front. Subsequently, spending S$12,500 per year will net you an automatic fee waiver.
How the 5% cashback works:
| 5% cashback | On dining (food and beverage outlets excluding hotel dining), groceries, and fuel (Caltex and Shell service stations in Singapore) |
Annual Fee: S$194.40 with fee waiver for first two years
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom Is It Best For: Families with a car and in need of multiple cards.
4. Citi Cash Back Card
Citi Cash Back Card
Compared with the HSBC Visa Platinum, this card has higher cashback and wider geographical coverage. It doesn’t give you a sign-up bonus for multiple supplementary cards though. You’ll need a minimum spend of S$800 per month to qualify for the best rebates.
There are three tiers of cashback for this card:
| 8% cashback | On grocery shopping and petrol worldwide |
| 6% cashback | On dining at restaurants and cafes globally |
| 0.25% cashback | On all other spend |
Annual Fee: S$194.40 with fee waiver for first year
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom Is It Best For: Those who drive or travel frequently to benefit from rebates for their overseas spend.
5. CIMB Visa Signature
CIMB Visa Signature Card
This is one of the top choices in our list because it has 10% cashback and no annual fees. You’ll need to spend at least S$800 every month to qualify for the 10% rate.
Cashback is capped at S$100 per month and up to S$20 per category.
The cashback tiers are as follows:
| 10% cashback | On local and overseas online shopping, groceries, beauty and wellness, cruises, and pet shops and veterinary services. |
| 0.2% cashback | On spending beyond the cashback cap. There’s no limit on this tier. |
Annual Fee: None!
Eligibility: Minimum 21 years old with at least S$30,000 annual income or S$10,000 fixed deposit collateral
Whom Is It Best For: Savvy spenders who want the highest cashback rates at a lower minimum spend, and who don’t want to be restricted to local Dairy Farm International merchants.
6. OCBC Frank Credit Card
OCBC Frank Credit Card
With an annual fee of S$194.40 and an automatic fee waiver that’s easy to get, this card is one of the lowest-maintenance options on our list. There are two basic cashback tiers:
| 6% cashback |
|
| 0.3% cashback | On all other spend |
Shopping platforms such as Lazada/Redmart and Taobao qualify for the highest tier of cashback, so this card is worth considering if you regularly buy from them. The cashback rates here aren’t as high as the UOB EVOL or CIMB Visa Signature Card, but you’ll get higher cashback caps per category with the OCBC Frank Card.
Annual Fee: S$194.40 with fee waiver for first two years. Automatic fee waiver with minimum spend of S$10,000 per year (about $833 monthly)
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom Is It Best For: Those who regularly shop online and go on short getaways to nearby regions.
Current promotion: Receive up to S$100 in cashback each month when you spend at least S$800 a month online or in any store that accepts contactless mobile payment. Terms and Conditions apply.
7. OCBC 365
OCBC 365 Card
While it doesn’t offer the highest rebates in the market, the OCBC 365 Card’s strength is in offering rebates for a variety of expenses both locally and overseas. Just be sure you can meet the minimum spend or you’ll earn a paltry 0.3% cashback.
Great card for those who drive and dine out a lot, but you’ll have to meet a minimum spend of S$800 per month to get all the benefits. This is also one of the few cards that gives you cashback on electricity and telco bills, making this a good card for couples or young families.
There’s a cap of S$80 cashback per calendar month, but no caps on specific categories.
The four tiers of cashback work like this:
| 6% cashback | On dining spend (local or overseas) and online food delivery |
| 5% cashback | On all fuel spend – along with up to 22.1% fuel savings at Caltex and 20.2% savings at Esso |
| 3% cashback | On groceries (local and overseas), private hire rides (local and overseas Grab, Gojek, and TADA), taxi, electricity, telco, online air and cruise ticket purchases, and hotel bookings |
| 0.3% cashback | On all other spend |
Annual Fee: S$194.40 with fee waiver for first two years. Spend at least S$10,000 in a year for an automatic annual fee waiver
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom Is It Best For: Those who spend big dollars on dining out and petrol
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8. Maybank Family & Friends
Maybank Family and Friends
Apart from letting you save three years’ annual fees worth S$540, this card also offers the thoughtful gesture of letting you select your preferred cashback categories for the 8% rate.
The cashback tiers are as follows:
| 8% cashback | On 5 out of 10 categories globally: transport, dining and food delivery, groceries, data communication and digital subscriptions, online fashion, pharmacy, kids and pets, entertainment, beauty and wellness, and sports |
| 0.3% cashback | On all other spend on non-selected categories |
Each category has a cashback cap of S$25 for a total of S$125 monthly. (This works out to be $312.50 per category per month if you want to maximise your cashback.) After you hit this cap, the rebate resets to 0.3% for any further spending. You’ll need to spend at least S$800 monthly to qualify for the 8% rebate.
Annual Fee: S$180 with fee waiver for first three years
Eligibility: Minimum 21 years old with at least S$30,000 annual income
Whom Is It Best For: Those who want decent cashback on everyday expense categories of their choosing.
Current Promotion: Receive up to 8% cashback on transport, petrol, groceries and more (capped at S$25 per category) when you spend a minimum of S$800 per calendar month.
9. Bank of China Family Card
Bank of China Family Card
This card offers a cashback cap of S$100 per month, though the best rates are limited to just dining and movies. Then again, no other card offers 10% cashback for movies, so you may want to keep this card handy.
You’ll need to spend at least S$800 in a month to qualify for the highest cashback rates.
Here are the four tiers of cashback:
| 10% cashback | On dining (food and beverage outlets excluding hotel dining) and movies |
| 5% cashback | On “Family Club Merchants” such as Best Denki, Popular Bookstore, Unity Pharmacy, Watsons and Welcia-BHG |
| 3% cashback | On supermarkets and online spending |
| 0.3% cashback | On all other spend |
Cashback is capped at S$25 per month for all categories except the 0.3% tier.
Annual Fee: S$205.20 with fee waiver for first year
Eligibility: Minimum 21 years old with at least S$30,000 annual income or S$10,000 fixed deposit collateral
Whom Is It Best For: Avid moviegoers and those who regularly shop at BOC’s Family Club Merchants.
Current Promotion: None.