The Ultimate Guide to Cash Back Credit Cards in Singapore
Discover the best cash back credit cards in Singapore and learn how to maximize your rewards on everyday spending.
Cash back credit cards are the easiest way to earn rewards in Singapore. Here's your complete guide to choosing the right cards and maximizing your returns.
💵 Why Cash Back Cards in Singapore?
Simple math: If you spend S$3,000/month and earn 3% back, that's S$1,080/year in free money.
Benefits of Cash Back:
| Benefit | Why It Matters |
|---|---|
| No complexity | Cash is cash - no point valuations needed |
| Flexibility | Statement credits, bank deposits, or vouchers |
| No expiration | Unlike miles, cash doesn't devalue |
| Easy tracking | 3% means 3%, always |
| No blackout dates | Unlike miles, use cash anytime |
📊 Types of Cash Back Cards in Singapore
| Card Type | How It Works | Best Return | Best For |
|---|---|---|---|
| Flat-rate | Same % on everything | 1.5-2% | Simplicity seekers |
| Category-based | Higher % on specific categories | 3-8% | Strategic spenders |
| Weekend/Online | Bonus % on specific channels | 3-6% | Online shoppers |
| Minimum spend | Cash back after hitting threshold | 3-5% | High spenders |
🏆 Top Cash Back Cards by Category
Best for Groceries
| Card | Grocery Cash Back | Min Spend | Annual Fee |
|---|---|---|---|
| OCBC 365 | 3% (up to S$800/month) | None | S$192.60 (waivable) |
| UOB One | 3-5% (with salary credit) | S$500/month | S$192.60 (waivable) |
| Citi Cash Back+ | 1.6% unlimited | None | S$192.60 (waivable) |
Best for Dining
| Card | Dining Cash Back | Cap | Annual Fee |
|---|---|---|---|
| OCBC 365 | 6% | S$80/month | S$192.60 (waivable) |
| Citi Cash Back | 8% | S$25/category | S$192.60 (waivable) |
| HSBC Visa Platinum | 5% | S$75/month | Free |
Best for Petrol
| Card | Petrol Cash Back | Cap | Annual Fee |
|---|---|---|---|
| OCBC 365 | 5% | S$60/month | S$192.60 (waivable) |
| Citi Cash Back | 8% | S$25/category | S$192.60 (waivable) |
| UOB One | Up to 5% | With salary credit | S$192.60 (waivable) |
Best for Online Shopping
| Card | Online Cash Back | Cap | Annual Fee |
|---|---|---|---|
| Standard Chartered Smart | 6% | S$60/month | Free |
| HSBC Revolution | 4% (online) | S$100/month | Free |
| DBS Live Fresh | 5% | S$20/month | S$192.60 (waivable) |
🎯 The Optimal Singapore Cash Back Strategy
The Two-Card Combo
Card 1: OCBC 365 (Category Card)
- 6% dining, 5% petrol, 3% groceries
Card 2: Citi Cash Back+ (Flat-Rate)
- 1.6% unlimited on everything else
Result: 3-6% on categories, 1.6% on everything else
Example Monthly Cash Back
| Category | Spending | Card Used | Rate | Cash Back |
|---|---|---|---|---|
| Dining | S$600 | OCBC 365 | 6% | S$36 |
| Groceries | S$500 | OCBC 365 | 3% | S$15 |
| Petrol | S$300 | OCBC 365 | 5% | S$15 |
| Online | S$400 | SC Smart | 6% | S$24 |
| Others | S$700 | Citi CB+ | 1.6% | S$11.20 |
| TOTAL | S$2,500 | - | 4.0% | S$101.20 |
Annual cash back: S$1,214.40!
💡 Maximizing Your Cash Back
1. Stack Multiple Cards
Use the right card for each spending category:
| Spending Type | Best Card |
|---|---|
| Groceries (weekday) | OCBC 365 |
| Dining (weekday) | OCBC 365 |
| Online shopping | SC Smart or DBS Live Fresh |
| Petrol | OCBC 365 |
| Everything else | Citi Cash Back+ |
2. Meet Minimum Spend Requirements
Some cards require minimum spend to qualify:
| Card | Minimum Spend | For Full Benefits |
|---|---|---|
| UOB One | S$500/month | Plus salary credit |
| OCBC 365 | None | No minimum! |
| SC Smart | S$300/month | For 6% cash back |
3. Pay Annual Fees Strategically
Rule of thumb: Annual fee should be less than extra cash back earned.
| Card | Annual Fee | Extra Cash Back Needed | Worth It If... |
|---|---|---|---|
| S$192.60 | S$192.60 | S$16/month extra | High category spend |
| Free | S$0 | None | Always worth it |
4. Don't Forget Sign-Up Bonuses
| Card | Typical Sign-Up Bonus | Requirement |
|---|---|---|
| Most cards | S$100-250 | Spend S$500-1,000 in first 2 months |
| Premium cards | S$300-500 | Higher spend requirement |
⚠️ Common Mistakes to Avoid
❌ Carrying a balance (interest wipes out all cash back!)
❌ Chasing cash back on purchases you wouldn't make
❌ Ignoring annual fees
❌ Using wrong card for each category
❌ Missing payment due dates
❌ Not tracking category caps
📋 Cash Back vs Miles: Quick Comparison
| Factor | Cash Back | Miles |
|---|---|---|
| Simplicity | Very easy | Complex redemption |
| Value certainty | Fixed | Variable (1-5 cents) |
| Flexibility | Use anywhere | Limited to travel |
| Best for | Everyday maximizers | Frequent travelers |
| Devaluation risk | None | Yes (over time) |
🚀 Getting Started Checklist
Week 1:
- Audit your monthly spending by category
- Calculate potential cash back with different cards
Week 2:
- Apply for 1-2 cards matching your top spending categories
- Set up for annual fee waiver (if applicable)
Week 3:
- Set up autopay to avoid late fees
- Create a simple system for which card to use where
Week 4:
- Track your first month's cash back
- Adjust strategy if needed
Start maximizing your everyday spending today - cash back cards are free money waiting to be claimed!