Could The New Citibank DIVIDEND Card be The Ultimate Cashback Card?



Not too long ago, we talked about the three best cashback credit cards in town- the Citibank Dividend, American Express True Cashback, and the ANZ Optimum World MasterCard.  Recently, Citibank made some significant changes to the Citibank DIVIDEND card, and it could now be the king of them all.


So, what’s different?

The Citibank DIVIDEND card offers a bumped up cashback rate on your every day spending. And, for most people, the highest expense categories are typically petrol, groceries, and dining.  What was 5% before is now “up to 8%”.

Yes, “up to” being the key operative word.

Here’s a summary of the main differences:


More food, less grooming

One of the greatest differences is that Citibank is a much better dining card now.  What was previously a modest 2% cashback on dining is now up to 8% on all restaurants, cafes, and food and beverage outlet globally.

While Health and Beauty no longer sees the premium 5% cashback, for those whose grooming products can be found in supermarkets, that’s not too big a blow.

No more accumulated cashback cap

The old Citibank DIVIDEND had an annual accumulated cashback cap of S$800, which no longer exists with the new card.  However, this is replaced with a cap on additional cashback, which brings us to the next point.

Okay, what’s up with up to 8%?

This is where things get a little less straightforward.  But simply put it, a flat rate of 0.25% cashback is applied to all your retail spending. For Petrol, Groceries, and Dining categories, an additional 7.75% cashback is given. But, this is subject to two conditions:

  • The 7.75% cashback is given up to a maximum of S$25 for each category.  This means that whether you spend S$323 or S$1000 on dining, your additional cashback remains capped at S$25, while your base cashback of 0.25% continues to apply to any amount.
  • You have to charge a total of S$888 to your card in that respective month.  Charge an amount below that it’s just a paltry 0.25% cashback for you.

Let’s look at the numbers

Now, to make things clearer, let’s look at how this compares, before and after.

Let’s assume you charge S$1500 a month to your credit card, which isn’t a far-fetched number for those spending for a small family, or yuppies.



The total cashback that you would have gotten per year based on the assumed category spend- a total of S$666 per annum.

And now, assuming the same amount of spending in each category.



You get a cashback of S$924 per year, without any change to your spending habits.


Card Combinations to rule the world

We can safely say that the Citibank DIVIDEND is downright competent as an everyday cashback card. But, what if you’ve just got too much money to spend and the $25 cap on the additional 7.75% cashback feels like an insult?

Here are some possible card combinations to rule the world, or your wallet with.

Citibank DIVIDEND Card + ANZ Optimum World MasterCard

This is for diehard cashback fans who want to feel as if they’re making a passive income by charging money to their credit cards.

Choose your 5% cashback with the ANZ Optimum World Card on a category that isn’t well covered with the Citibank DIVIDEND Card.  For example, Shopping, or Travel.  Just remember to take the right card out at the right time.

Citibank DIVIDEND Card + OCBC 360 Credit Card

This is for those who eat too much, or give too many treats.

With the OCBC 360, you get 3% cashback on weekday local and overseas dining, and a good 6% on weekend dining. It comes with a monthly cashback maximum of S$80. So once you’ve reached about S$500 in dining spending on your Citibank DIVIDEND Card, start whipping out the OCBC 360 to continue getting cashback on your meals.  Or, use the OCBC 360 exclusively on your weekend binges.

The final verdict is that if you can only have one cashback credit card, then you won’t go wrong with the Citibank DIVIDEND Card.



Minimum annual income requirement: S$30,000 for Singaporeans

Annual fee: S$192.60 for basic card, $96.30 for supplementary card.  Fee waiver for first year.

Apply Here!


Discover more lifehacks and financial tips to optimise the value of your money. Keep your money intelligent with iMoney Singapore

What do you think?