What is the Best Credit Card for Cash Back

 

What is the Best Credit Card for Cash Back

What is Cash Back

Cashback or Cash rebate refers to the credit that is credited back into your credit card after you have made your purchases with your credit card. It is typically a small percentage of the overall purchase and could be subject to various terms and conditions. The cash back could be credited when you receive your monthly credit card bills or in some cases at the end of a quarter. Credit Cards offering cashback typically do not offer bank reward points.

Types of Cashback Credit Cards

Credit cards with cashbacks are typically divided into category-based or tiered-based. Category-based credit cards usually award high cashback only for specific categories such as Shopping, Dining, Overseas Spending, etc and users can read more about them under various Lobang Reviews. These credit cards might target more than one category and cashback is usually only awarded if cardholders spend a minimum amount in a month. Comparatively, tiered-based credit cards are more straightforward as cardholders are awarded higher cashback for higher spending. Our table below will cover both category-based credit cards and tiered-based credit cards with the intention of covering the best cashback credit cards for everyday spend.

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Credit Card Issuer and Type of Credit Card Minimum Requirements / Conditions Rate for Cash Rebate

OCBC FRANK Card

Minimum monthly spend of $400 offline in a month

Earn 0.3% cash rebates on all transactions
Earn an additional 10% rebate on mobile payments

Citi Cash Back Card

Minimum spend of $888 in a month

Earn 8% cashback on petrol, dining and groceries and 0.25% on all other spend

Maybank Family & Friends Card

Minimum spend of $1000 or $500 in a month

Earn 8% or 5% cash rebate at popular selected merchants that include supermarkets, petrol stations, fast food delivery, theme parks, pharmacies, etc

UOB Delight Card

Minimum spend of $400 or $800 in a month

Earn 3% SMART$ rebates on selected supermarkets and Guardian, telcos, Prudential Insurance, United Overseas Insurance, Town Councils, SPH newspapers, selected contactless payments and ATUs. Earn 8% SMART$ rebate for supermarkets and Guardian if higher tier spending met.
Earn additional 4% SMART$ rebates at Cold Storage, Market Place and Jasons every Thursday in Oct and Nov 2017

Citibank SMRT Card

Minimum spend of $300 in a month

Earn up to 7.3% SMRT$ rebate at popular selected merchants that include supermarkets, movies, coffee, fast food, restaurants, pharmacies, recurring bills, etc

BOC Family Card

Minimum spend of $500 in a month

Earn 7% cashback on dining, 5% supermarkets, hospital bills, NETS FlashPay, online spend and selected merchants and up to 1% on all other spend

POSB Everyday Card

Minimum monthly spending requirements for medical spend

Earn up to 6% at key merchants and 0.3% on all other spend

OCBC 365 Credit Card

Minimum spend of $600 in a month

Earn up to 6% cashback on dining, up to 5% on overseas spend, 3% on online spend, supermarkets, telco bills and 0.3% on all other spend

HSBC Visa Platinum Credit Card

Minimum monthly spend of $800 for all 3 months in a quarter

Earn up to 5% cash rebates on telco bills, groceries and dining

DBS Live Fresh Card

Minimum monthly spend of $700 in a month

Earn 5% cashback on selected contactless and mobile payments

UOB One Card

Minimum monthly spend of $2000 for all 3 months in a quarter

Earn 5% cash rebates on all transactions

UOB Visa Signature Card

Minimum monthly spend of $1000 in a statement period

Earn 5% cash rebates on petrol, online, overseas and VisapayWave

HSBC Advance Credit Card

HSBC Advance customers / Non-HSBC Advance customers with minimum monthly spend of $2,000

Earn 3.5% / 2.5% cashback for all spend

Earn 2.5% / 1.5% cashback for all spend if minimum spend requirement not met

Maybank Platinum Visa Card

Minimum spend of $300 in a month

Earn 3.33% cash rebate on all spend

ICBC Unionpay Dual Currency Card


ICBC Visa Dual Currency Card

Minimum spend of $500 a month for all 3 months in a quarter. Cashback only applicable on spending in excess of $500 each month

Earn up to 2% / 5% / 8% cashback for 1st / 2nd / 3rd month in a quarter on all spend in excess of $500 for each month

American Express True Cashback Card

Maximum spend of $5,000 for first 6 months

Earn 3% cashback on any purchase, 1.5% cashback after first 6 months

ICBC Koipy Dual Currency Card

Minimum spend of $1,000 in a month

Earn 3% cashback on all spend

Standard Chartered MANHATTAN World MasterCard

Minimum spend of $3,000 in a month

Earn 3% cash rebate on all spend

SAFRA DBS Credit Card

Minimum spend of $500 in a month

Earn 3% cashback on MasterCard PayPass transactions and online shopping

UOB UnionPay Card

None

Earn 2% cashback on all spend

StanChart Spree Card

None

Earn 2% cashback on contactless and mobile payment and 1% cashback on any purchase

ICBC Global Travel MasterCard

None

Earn 1.5% cashback on local spend and 3% cashback on overseas spend

Standard Chartered Unlimited Cashback Card

None

Earn 1.5% cashback on any purchase

Cashback Credit Cards Worth a Mention

The POSB Everyday Card offers up to 6% rebate from key merchants and 0.3% on everything else. It is a versaile card as it covers most major expenses with 5% cash rebate for groceries at Sheng Siong. This is also the only credit card that allows cash rebate for utilities. Cardholders can also earn cash rebate for recurring bills as well as petrol at SPC. In fact, it offers one of the highest petrol savings of 20.1% at SPC for motorists.

Maybank Family & Friends Card rewards cardholders with up to 8% cash rebate at selected merchants such as Cold Storage, FairPrice supermarkets, Leading petrol stations & hypermarts in Malaysia, Leading petrol stations in Singapore, Guardian, Unity NTUC Healthcare, Watsons, Legoland, theme parks in Malaysia, etc. It has one of the highest rebate for spending on groceries and petrol in Singapore and Malaysia and is flexible in the sense that if you fail to meet the minimum $1,000 spend to attain the 8% cashback, you can still get 5% cashback with a minimum monthly spend of $300.

UOB One Card awards potential cashback of 5% for everyday purchases. However, the 5% cashback comes with plenty of conditions such as three minimum purchases per statement period and a minimum monthly spend of $2000 for all three months in a quarter. Failing to spend the minimum monthly spend will still earn you 3.33% cash back provided you still have a minimum monthly spend of $500 for all three months in a quarter. Additional perks include enrolment in UOB UNI$ rewards programme and SMART$ rebate programme, a huge rarity among credit cards that already earn cash back in the first place.

OCBC FRANK Card is running a promotion which award cardholders with additional 10% cash rebate for mobile spend with minimum $400 offline spend. This translates to cash rebate of 10.3% for cardholders who like to make payments using their mobile phones instead of bringing out a thick wallet full of credit cards.

BOC Family Card is an excellent and flexible card for dining as it awards 7% cash rebate for both local and overseas dining everyday. Its 5% cash rebate for hospital bills is a unique offer that is unseen in other credit cards. The 5% cash rebate is also awarded for supermarkets and selected merchants and the cash rebate can be easily attainable with a low minimum spending of $500.

The Standard Chartered MANHATTAN World MasterCard gives out 3% cash rebate with minimum spending of $3,000 a month capped at $200 a quarter. The cashback might not sound impressive but this card is a handy card to have around as it allows cashback for any spending and allows some benefit when you have to buy big-purchase items.

Another recommendation for cardholders who do not want to deal with the hassle of minimum spend will be the UOB UnionPay Card which is awarding a 2% cash rebate + 6% bonus cash rebate for monthly selected category with no minimum spend. The additional bonus cash rebate category is changed monthly and is currently local shopping for the month of Nov 2017.

The Best Cash Back Credit Card

The best cash back credit card is the card that gives you the most cash back for the most number of spending categories. Hence, Money Lobang will have to nominate the BOC Family Card as it gives one of the highest possible cash back of 7% for both local and overseas dining everyday and 5% cash rebate for for supermarkets, online shopping, hospital bills and selected merchants. The high 5% cash rebate for hospital bills is a unique offer that is unseen in other credit cards. There is also an extra 2% cash rebate for supplementary card spend on all other categories. Cash rebates will be awarded with minimum $500 spend in a billing cycle. It can be easily attainable considering the large number of spending categories in which cash rebates are offered. However, every consumer has different spending pattern and it will be a better idea to scroll through our list of Cash Back Credit Cards to select the best credit card to suit your spending pattern.

 

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Reviews or Comments (3)

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Topic: Best Credit Cards for Cash Back
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Kelvin
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Oct 2017
Kelvin says...

Maybank family n friends card is a very much underated card. V useful for msia. Btw to get 5% cashback is $500 spend instead of $300.

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Money Lobang
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Sep 2014
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Money Lobang says...

Thank you for spotting the error. It has since been rectified.

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Jenny Tang
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Oct 2017
Jenny Tang says...

Cashback credit cards! Was looking for alternatives to my ANZ Optimum Card which was changed to POSB Everyday Card. Agree that BOC Family Card seems the most attractive cashback card in the market for now. However, seems troublesome to find a Bank of China branch to go through the signup process.

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David
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Sep 2017
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David says...

Good list of cashback cards but I have a simple question. Does the uob one card 10% cashback for mobile payments stack with existing 5% cashback?

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Money Lobang
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Sep 2014
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Money Lobang says...

The 10% cashback for mobile payments is on top of the existing 5% cashback and is a separate promotion on its own.

The promotion is only applicable for cardholders who have successfully registered via SMS to UOB. There is a minimum retail spend of $500 for each qualifying period to be eligible. Cashback is subjected to a cap of $50.

 

 

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Featured Cards

Standard Chartered Spree Card

Standard Chartered Spree Credit Card Enjoy up to 22.3% cashback for petrol, 3% cashback for online spend & 2% cashback for all other spend. Apply and receive up to $138 cash credit

Amex True Cashback Card

American Express True Cashback Card Receive up to 3% cash rebate on everything you buy with no minimum spend required.



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