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5 Best Cash Back Credit Cards For Small Spenders in Singapore

GET.com logo GET.com 12/1/2018 Denise Bay

This article was originally on GET.com at: 5 Best Cash Back Credit Cards For Small Spenders in Singapore

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Do you monitor your spending and keep your budget to a minimum as much as possible? Not spending a lot doesn't necessarily mean that you have to give up on earning cash rebates. As a matter of fact, there are some cashback cards in Singapore that will reward you even if you aren't someone who splurges thousands of hard-earned dollars every month. Take a look at GET.com's top cash back credit card picks for small spenders below.

5 Best Cash Back Credit Cards For Small Spenders in Singapore

1. The American Express® True Cashback Card

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The American Express® True Cashback Card lets you earn a flat rate 1.5% cashback on all your purchases in Singapore Dollars, no minimum spend required. There is no cap on how much cashback you can earn in a statement month.

If you are a new Cardholder, you will enjoy 3% cashback on all your spending, up to $5,000, for the first 6 months of account opening. Nonetheless, keep in mind you will not earn any cashback on foreign exchange transactions at all.

2. Standard Chartered Unlimited Cashback Credit Card

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Standard Chartered Unlimited Cashback Credit Card also lets you earn a flat rate 1.5% cashback on all your eligible retail transactions with no cashback cap and no minimum spend. While it does not offer a promotional cashback earning rate when you first sign up for the credit card, you can earn cashback on foreign exchange transactions unlike The American Express® True Cashback Card.

One more thing - Standard Chartered will not award you with cashback on any monthly instalment of an EasyPay transaction even though you are technically just converting your retail spend into interest-free instalments.

3. Maybank Platinum Visa Card

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Maybank Platinum Visa Card lets you earn up to 3.33% cash rebates on local spending. It works on a quarterly cash rebate basis that is based on a fixed-quarter spending (i.e. from January to March, April to June, July to September and October to December).

The important thing to note is that you need to spend a minimum of either $300 or $1,000 each month, consecutively in a calendar quarter in order to earn your cash rebates.

For example, if you spend at least $300 per month in a calendar quarter, you will get to enjoy a $30 quarterly cash rebate (i.e. a $10 cash rebate per month). And if you spend at least $1,000 per month in a calendar quarter, you will get to enjoy a $100 quarterly cash rebate (i.e. a $33.33 cash rebate per month).

4. UOB One Card

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UOB One Card works similarly like Maybank Platinum Visa Card in that the cashback is based on a quarterly basis. This credit card lets you earn $50, $100 or $300 cashback per quarter but you need to fulfil the minimum spend criteria for each month.

To earn a quarterly cashback of $50, you will have to spend at least $500 per month for 3 months consecutively in that quarter.

To earn a quarterly cashback of $100, you will have to spend at least $1,000 per month for 3 months consecutively in that quarter.

And to earn a quarterly cashback of $300, you will need to spend at least $2,000 per month for 3 months consecutively in that quarter. The latter is why UOB One Card has been voted the most generous cashback card in Singapore - it offers up to 5% cashback no matter whether you are spending on local or foreign currency transactions.

5. HSBC Visa Platinum Credit Card

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HSBC Visa Platinum Credit Card lets you enjoy a 5% cash rebate on recurring mobile, cable TV and internet bill payments; up to a 5% cash rebate on petrol (plus up to an extra 16% instant discount at Caltex and Shell stations); up to a 5% cash rebate on groceries; and up to a 2% cash rebate on dining (except hotel dining).

To enjoy earning the maximum 5% cash rebate across the above-mentioned categories and 2% cash rebate on dining purchases, you will have to charge a minimum of $800 in eligible purchases per month for all 3 months in a quarter. The maximum cash rebates you can earn in a quarter is $120.

To enjoy the 5% rebate on recurring mobile, cable TV and internet bill payments; 3% cash rebate on eligible purchases with petrol and groceries merchants; and 1% cash rebate on eligible dining purchases, you are required to spend at least $400 in eligible purchases per month for all 3 months in a quarter. There is a maximum cash rebate cap of $60 per account per quarter.

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