Cashback credit cards

Cashback credit cards reward you for your spending. There are a few different types of cashback offers available in the Singapore market, with some cards offering a one-off cashback payment as part of a special promotion and others earning cashback as a percentage of your spending. You can use this guide to compare cashback credit card options, learn how they work and discover how you can get the most value out of this type of credit card.

HSBC Advance Credit Card

HSBC Advance Credit Card

Receive S$150 cash back or a Samsonite T5 Spinner luggage

Offer ends 30 Sep 2019

Eligibility criteria, terms and conditions, fees and charges apply

HSBC Advance Credit Card

Apply today and enjoy 3.5% cash back on all purchases. No minimum spend required.

• Principal Annual Fee: S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter.
• Cashback Rate: 3.5%
• Annual Interest Rate: 25.9%
• Minimum Income (Singaporean & PR): S$30,000
• Minimum Income (Non-Singaporean): S$40,000

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Compare cashback credit cards

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Name	Product	Cashback Offer	Cashback Cap	Annual Fee	Min Income - Singaporean and PR
Standard Chartered Unlimited Cashback Credit Card		S$80 cashback to new cardholders. S$20 cashback to existing cardholders. T&Cs apply. Ends 30 Sep 2019.	S$120 for the entire promo period	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Get S$80 cashback with activation of card within 30 days upon approval. Existing cardholders will receive S$20. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
Standard Chartered Rewards+ Credit Card		S$80 cashback to new cardholders. S$20 cashback to existing cardholders. T&Cs apply. Ends 30 September 2019.	S$80 for the entire promo period	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Get S$80 cashback with activation of the card within 30 days upon approval. Existing cardholders will receive S$20. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
American Express True Cashback Card		3% cashback for first 6 months up to S$5,000 minimum spend 1.5% cashback on any purchase, anytime	no cap	S$0 annual fee for 1 year - S$171.20 thereafter	S$30,000	Receive 3% Cashback bonus and up to S$150 Cashback when you spend S$5,000 in the first six months.	Go to site More Info	Compare	loading Fetching your data...
HSBC Visa Platinum Card		5% cashback on dining, groceries and petrol S$150 cash back when you spend S$800 within a month of card approval. Ends 30 September 2019.	S$250 per quarter S$150 for the entire promo period	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. T&Cs apply. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
American Express Singapore Airlines KrisFlyer Credit Card		S$150 cashback for use at singaporeair.com when you spend a minimum of S$12,000 till 30 June 2020.	S$150 for the entire promo period	S$0 annual fee for 1 year - S$176.55 thereafter	S$30,000	Earn 7,500 bonus KrisFlyer miles when you spend S$5,000 within three months of card approval. Ends 30 September 2019.	Go to site More Info	Compare	loading Fetching your data...
HSBC Revolution Credit Card		S$150 cash back when you spend S$800 within the first 2 months of card approval. Ends 30 September 2019.	S$150 for the entire promo period	S$0 annual fee for 2 years - S$160.50 thereafter	S$30,000	Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. T&Cs apply. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
HSBC Advance Credit Card		Up to 3.5% cashback on all purchases S$150 cash back when you spend S$800 within 2 months of card approval. Ends 30 September 2019.	S$125 per month, S$150 for the entire promo period	S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter	S$30,000	Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. T&Cs apply. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
Citi Cash Back Card		8% cash back on dining, groceries and petrol transactions	S$25 per category per month	S$0 annual fee for 1 year - S$192.60 thereafter	S$30,000	Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.	Go to site More Info	Compare	loading Fetching your data...
Citibank SMRT Card		Redeem S$10 cash back for shopping vouchers in every 10 SMRT$ earned	600 SMRT$ per year	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.	Go to site More Info	Compare	loading Fetching your data...
Citi Rewards Credit Card		Up to 10% cash back at over 300 merchants	no cap	S$0 annual fee for 1 year - S$192.60 thereafter	S$30,000	Receive 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 30 September 2019.	Go to site More Info	Compare	loading Fetching your data...
Citi PremierMiles Visa Card		Up to 10% cash back at over 300 merchants	no cap	S$0 annual fee for 1 year - S$192.60 thereafter	S$30,000	Receive 30,000 miles when you spend S$7,500 in the first 3 months and pay the annual fee.	Go to site More Info	Compare	loading Fetching your data...
Standard Chartered Spree Credit Card		S$80 cashback to new cardholders. S$20 cashback to existing cardholders. T&Cs apply. Ends 30 September 2019.	S$100 for the entire promo period	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Get S$80 cashback with activation of card within 30 day upon approval. Existing cardholders will receive S$20. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
Standard Chartered Prudential Platinum Credit Card		S$80 cashback to new cardholders. S$20 cashback to existing cardholders. T&Cs apply. Ends 30 Sep 2019.	S$100 for the entire promo period	S$0 annual fee for 2 years - S$192.60 thereafter	S$30,000	Get S$80 cashback with activation of card within 30 days upon approval. Existing cardholders will receive S$20. Ends 30 Sep 2019.	Go to site More Info	Compare	loading Fetching your data...
Maybank Business Platinum Mastercard		S$50 cash credits to offset credit card payment	S$50	S$0 annual fee for 2 years - S$180 thereafter	S$30,000	Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.	Go to site More Info	Compare	loading Fetching your data...
Maybank eVibes Card - The Student Card		1% cash rebate on all spend	no cap	S$0 annual fee	N/A	Get an Adidas wristwatch worth S$120 when you use your card in the first month. Offer limited to the first 500 successful applicants.	Go to site More Info	Compare	loading Fetching your data...
Maybank Platinum Visa Card		Earn up to 3.33% cash rebates on all purchases in Singapore upon spending S$300 per month on every quarter Cash rebate of 0.3% will also be earned on overseas spending at no minimum spend	S$100 per quarter S$50 per month	S$0 annual fee	S$30,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...
Maybank Family & Friends Card		Up to 8% cashback with minimum spend of S$1,000 per month.	S$50 per month	S$0 annual fee for 3 years - S$180 thereafter	S$30,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...
Maybank DUO Platinum Mastercard		5% cash rebate on petrol transactions	no cap	S$0 annual fee for 3 years - S$120 thereafter	S$30,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...
Maybank FC Barcelona Visa Signature Card		1.6% cash rebate on all spend	no cap	S$120 annual fee	S$30,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...
Maybank Visa Infinite Card		Redeem TREATS points with cash credits	no cap	S$0 annual fee for 1 year - S$600 thereafter	S$150,000	Get up to 8 complimentary single-trip airport limousine transfers. T&Cs apply. Ends 31 Dec 2019.	Go to site More Info	Compare	loading Fetching your data...
Maybank Horizon Visa Signature Card		Receive S$100 cash credit with min. spend of S$800 to your card or withdrawal from your CreditAble account within the first 2 months. Ends 31 Jul 2019.	S$100	S$0 annual fee for 3 years - S$150 thereafter	S$30,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...
Maybank World Mastercard		Get S$50 cash credit with minimum spend of S$700 upon card approval	S$50	S$0 annual fee for 1 year - S$240 thereafter	S$80,000	Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.	Go to site More Info	Compare	loading Fetching your data...

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How do cashback cards work?

A cashback credit card gives you rewards in the form of dollars or credit on your account. These offers vary between cards, with some earning cashback as part of an ongoing rewards program and others providing a one-off cashback reward offer for new customers.

The cashback you earn each month is accumulated, after which you can use them to offset your spending for the month, depending on several requirements. It must be emphasised that cashback rewards do not grant you instant discounts per transaction. As well as using points for flights or merchandise, some credit card rewards programs give you the option to redeem your points for cashback on your account.

Many cards also have a cashback promotion for new customers. These offers usually require you to apply before a set date and spend a specific amount within the first few months you have the card.

How to compare cashback credit cards

Here are the key details to look at when you’re comparing different cashback credit card options:

• The cashback amount. Weigh up the value of the cashback you can earn based on your spending habits and the overall cost of the card (i.e. the annual fee and purchase rate). This will help you decide if the rewards are worth it.
• Reward caps. Some cashback cards limit the amount of money you can get from them. For example, you might be able to get 1% cashback per S$1 but have a limit of up to S$20 per month.
• Introductory offer requirements. If the cashback reward is offered as a special promotion, make sure you understand the terms and conditions before signing up. Depending on the offer, you may want to look for the date the offer expires, spending requirements or participating retailers to take advantage of the cashback reward.
• Ineligible transactions. While most everyday purchases are eligible to earn cashback rewards, transactions such as cash advances, bill payments and credit card fees are usually ineligible. Check these details before you get a card to decide if it suits your spending habits.
• Rewards value. If you have a card that earns points and want to redeem them for a cashback reward, check to see if there are other rewards (such as flights, travel upgrades or merchandise) that have a retail or regular price value that is higher than the cashback amount. This will help you get the most value out of your rewards.
• Annual fee. Weigh the card’s annual fee against the cashback you expect to earn to work out how much value you’ll get from the rewards. Ideally, the amount of cashback you get should be worth more than the annual fee.
• Other card features. Make sure you also consider the card’s standard variable purchase rate, as well as any additional charges, fees and complimentary extras. Along with the rewards and annual fee, these features will help you decide if the card suits all your needs.

What are the advantages and drawbacks of cashback credit cards?

Weighing up some of the pros and cons could help you determine whether a cashback credit card is right for you.

How to apply for a cashback credit card

If you’ve decided you want a cashback credit card, you can apply online in around 5-10 minutes via a secure web service. But before you apply, make sure you meet the eligibility requirements and have the necessary documents needed to complete your application. These will vary from card to card, but you can usually expect the following eligibility:

Eligibility requirements

• Age. Cardholders must be at least 21 years of age. Some student cards allow applicants to be at least 18 years old, but will require parental consent.
• Residential status. Most credit cards are open to application for Singaporeans, Permanent Residents(PR) and foreigners alike, subject to varying income requirements and additional documents.
• Minimum income. The minimum income requirement will vary between cards, but they usually start at S$30,000 p.a. for most basic credit cards and S$80,000 and above for higher-tier products.
• Credit history. All credit card issuers require applicants to have a good credit history.

Necessary documents and information

• Proof of identification. You’ll be required to provide a copy of your identity card. For foreigners, you will need to provide a copy of your passport with at least 6 months’ validity, as well as an Employment pass with at least 6 months’ validity.
• Proof of income. Singaporeans and PRs have to submit your latest 12 months’ CPF contribution history statement, latest income tax assessment or 3 months’ computerised payslip. Foreigners can provide their latest computerised payslip and submit any latest income tax assessment where available. If you have only worked for less than 3 months, you can provide a company letter instead, certifying your employment and salary dated within 3 months from the date of your credit card application.

Once you’ve provided all of this information and hit “submit”, you should receive a response regarding your application within 60 seconds. If you’re approved, you’ll receive your card in the mail within a week. If the card has a cashback offer, you should read the Product Disclosure Statement to confirm the terms and conditions and when you can expect to receive the cashback credit in your account.

If you’re looking for a new credit card, a product with a cashback offer could provide you with extra incentive to pay on plastic. While cashback offers can be rewarded, they always come with terms and conditions, so make sure you understand what these are and compare your options before you apply for the card.

Frequently asked questions about using cashback credit cards

• How much cash can I expect to get back when I spend?

  While the cashback rate varies from product to product, most cashback returns are somewhere between 1-5% of the total value of the transaction. This figure can vary depending on the category of the products you spend on (grocery, dining…etc), as well as merchant bonus cashback rewards schemes.

• Can I use cashback to pay the annual fee or my credit card debt?

  Yes, you can generally use cashback rewards to pay your card’s annual fee or the outstanding balance of a credit card.

• Where can I find out more about cashback and rewards points capping?

  We include the relevant information about cashback and rewards points capping on our cashback credit card review and application pages. If you’re interested in a specific cashback credit card or rewards program, you may also want to read through the Product Disclosure Statement provided by the credit card issuer. This will outline the full terms and conditions of the cashback offer or rewards program.

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Sally Mcmullen

Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. She's also one half of the Pocket Money podcast. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. Sally has a first-class Honours degree in Communications and Media Studies (majoring in Journalism and Professional Writing) from the University of Wollongong.