How to choose the best unlimited cashback credit card

Compare credit cards that offer cashback rewards and earning opportunities.

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Cashback rewards are a simple and effective way to lower your monthly credit card bill. If you’re not a big traveller, shopper or just looking to make savings wherever possible, then a cashback credit card could be the right option for you.

We’ll help you weigh the pros and cons of cashback cards and compare the credit cards available that offer cashback opportunities.

Standard Chartered Unlimited Cashback Credit Card

Standard Chartered Unlimited Cashback Credit Card

Get up to S$80 cashback when you activate your card.

Offer ends 31 March 2020

Eligibility criteria, terms and conditions, fees and charges apply

Standard Chartered Unlimited Cashback Credit Card

Apply today and get 1.5% cashback on all spend. No minimum spend. No cashback cap.

  • Principal Annual Fee: S$0 annual fee for 2 years - S$192.60 thereafter.
  • Cashback Rate: 1.5%
  • Annual Interest Rate: 26.9%
  • Minimum Income (Singaporean & PR): S$30,000
  • Minimum Income (Non-Singaporean): S$60,000
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Compare unlimited cashback credit cards

Name Product Reward Cashback Offer Annual Fee Min Income - Singaporean and PR
Standard Chartered Unlimited Cashback Credit Card
Shopping, travel and lifestyle offers at over 3,000 outlets in Asia
Earn 1.5% cashback with no limit. Plus, there's no minimum spend
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Apply today via MyInfo and receive up to S$100 cashback. End 31 May 2020.
American Express True Cashback Card
Enjoy free travel insurance benefits of up to S$350,000
Earn 1.5% cashback on all eligible spending. no minimum spend or cap
S$0 annual fee for 1 year - S$171.20 thereafter
S$30,000
Apply today and get a 3% Cashback bonus when you spend S$5,000 in the first six months.
Maybank Family & Friends Credit Card
Earn up to 3X interest on your child's savings with Maybank Family Plus
Up to 8% cashback with minimum spend of S$800 per month
S$0 annual fee for 3 years - S$180 thereafter
S$30,000
Get an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account at least S$300 in the first 2 months.
Maybank FC Barcelona Visa Signature Card
Chance to win a trip for 2 to watch FC Barcelona every season
1.6% cash rebate on all spend locally. No minimum spend or cap
S$120 annual fee
S$30,000
Get an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account at least S$300 in the first 2 months.

Compare up to 4 providers

What is an unlimited cashback card?

Cashback credit cards offer you rewards by crediting your account. As you use your card, you will accumulate “cashback”, typically calculated as a percentage of your spend. The percentage you are awarded will depend on the rates attached to your specific card.

Some cards offer cashback on all spending, while some only offer cashback on designated purchase types. The total amount you are rewarded through cashback is generally applied as a credit (discount) to your next monthly statement.

Are unlimited cashback cards really unlimited?

Unfortunately, no, they’re not. While cashback credit cards may advertise themselves as ‘”unlimited”, there is generally a range of terms and conditions attached that limit the amount of cashback you can earn. When estimating the amount you may save with a cashback credit card, be sure to check the following:

How to choose the best unlimited cashback card

There are a number of factors to consider when choosing a cashback credit card. These include:

  • Cashback rates. The easiest way to distinguish between cashback credit cards is to compare the cashback rate. The higher the percentage, the more you’ll save. Some cards offer different rates for different purchase types, so be sure to consider any variations when making a decision.
  • Caps. While a high cashback rate is desirable, it may be subjected to a cap. This means that you won’t be able to earn cashback rewards beyond a certain point. Be sure to check the cashback cap on cashback credit cards before making a choice.
  • Bonus cashback. Cashback cards may offer a lower rate on the majority of your spend, and then a higher rate for spending at partnered merchants. These higher rates are often referred to as “bonus cashback”. Be sure to check for any bonus cashback deals, as these can really maximise your savings. If you see an offer with a retailer you shop at regularly, this could be a great way to choose a card.

Bottom line

Cashback credit cards can be a simple and effective way to lower your monthly credit card bill. A reward in the form of saving money is a benefit everyone can make the most of.

As with all credit cards, it’s important to read the terms and conditions associated with a card before signing up. If you want a credit card that offers cashback, start comparing your options here.

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