3 Best Cashback Credit Cards in Singapore



One of the biggest reasons to charge your purchases to a credit card is to take advantage of discounts, rewards, and rebates. For many, getting a cashback is perhaps one of the biggest consolations for your monthly spending. With so many credit cards offering a cashback, it isn’t always easy to decide.

Here are the top three cashback credit cards you should definitely consider adding to your arsenal.


citi cashback

Citibank Cash Back Card

Recommended for: Drivers, groomers, and everyday spend.

The Citibank Cash Back Card is a good choice for everyday spends, particularly for petrol, groceries, as well as spending on health and beauty or pharmacies.

Cashback rates:

  • Petrol- More than 18% at Shell and Esso and 5% at other fuel stations
  • Up to 2% cashback on all dining spend
  • All other spend: 0.5% cashback
  • Up to 5% savings on all groceries and health & beauty / pharmacies spend

This is good overall card, especially so if you drive.  Do note that the over 18% savings at Shell and Esso is based on an accumulated savings of onsite discounts, petrol card discounts (e.g. Esso Smiles Card), and the 5% cashback from the credit card.

Even if you don’t own a car, you get a good 5% savings if you spend regularly on groceries, health, and grooming. A minimum spend of S$50 is required, but that shouldn’t be an issue if you do a little shopping planning before hitting the stores.

One drawback of the card is the maximum of S$800 cashback in one anniversary year. This shouldn’t be an issue for many, but if you’re spending for a family or are a high spender and want to charge all your expenditure on one card, you would very quickly meet the maximum rebate value. (See figure) 



If you’re a big spender on dining, it may make sense to get a dining card that gives you better deals than a 2% cashback, and use this only for day-to-day grocery and petrol spending.

Citibank gives out S$50 honestbee eVoucher as welcome gift when you spend at least S$100 on honestbee.sg within 30 days of card approval date.

Minimum annual income requirement: S$30,000

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

amex true

American Express True Cashback

Recommended for: fuss-free users, expenditure on services

The American Express True Cashback card is a godsend for those who can’t be bothered categorising their spending and trying to figure out which colour of plastic they should reach out for at the cashiers.

This card gives you a 1.5% cashback on purchases of goods and services, anytime.  While 1.5% is not the most attractive rate, you get a cashback on anything that you swipe it for with no minimum spend and no maximum cap.  This is good card to have if you make many small transactions, and you use this a backup card to get cashback off purchases and services that often don’t fall into special categories that most cashback credit cards cover. For instance, the random foot massages or nail treatments.

The card also gives you a 5% cash rebate for the first three months on any category with a maximum spend of $5000, and a fee waiver for the first year. So if your spending season is coming up, this is a great choice that doesn’t come with a high minimum income requirement.

American Express now allows you to earn 3% cashback on spending of up to S$5,000 for the first 6 month as an introductory offer.

Minimum annual income requirement:  S$30,000

Annual fee: S$171.20 for principal card.  Fee waiver for first year and permanent fee waiver for first two supplementary cards.


ANZ Optimum World MasterCard

Recommended for: Low and very high spenders, planned expenditure

The ANZ Optimum World Mastercard offers a great cashback deal for those who know what they like to spend on, and those whose types of expenditures vary with the seasons. (e.g. mid year shopping sprees and year end dining binges)

Every calendar quarter, you get to choose which one of four categories you’d like to enjoy a 5% cash rebate on. There’s no minimum spend, and no limit on your overall cash rebate earnings, which makes this ideal for both low and very high spenders.

Choose between Dining and Leisure (e.g. restaurants, cinemas), Travel (e.g. airlines, agencies), Shopping, and Groceries. One of the plus points that the cashback is applicable for local, overseas, and online spends. This means you could have chosen Travel for a quarter and enjoy a 5% cashback when you book your tickets and packages, and switch it to Dining for the quarter in which you’re travelling to enjoy 5% cashback off the fancy schmancy dinners in Paris or Phuket.

Any expenditure that doesn’t fall into your chosen category still earns you a 1% cashback, which makes this an overall attractive card.

The drawbacks? While there’s no limit on the annual cash rebates you can earn. there is a limit of $30 per transaction. This means that you get a $30 rebate whether you buy a $600 watch or a $6000 watch in a receipt.

ANZ welcomes you with S$100 cash rebate if you spend at least S$488 within 30 days of card approval date. That’s 20% cashback on top of the usual 5% and 1% cashback you’ll earn on your normal spending!

Minimum annual income requirement:  S$80,000

Annual fee: $180 for principal card and $90 for supplementary card. Waiver for first year.

Before you apply for a cashback card, review your expenditure pattern to determine which card best suits your spending habits. And don’t fall into the trap of spending more for the sake of earning some rebates! Of course, you can always check out our credit cards comparison table to find your ideal card!


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