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1. Popularity of Online Shopping in Singapore
2. Best Cash Back Credit Cards for Online Shopping
3. Which Credit Card is Best for Online Shopping Cash Back?
With the widespread popularity of online shopping websites such as Lazada, Qoo10 or Shopee which promise lower prices than shopping at your traditional retail malls, there is a greater need for credit cards for online shopping which often reward online shoppers in the form of cashback or cash rebate. However, the amount of cashback awarded for online shopping has been decreasing as banks realised there is no need to use cash back to encourage shoppers from shopping online as online shopping is already a norm. Nevertheless, we manged to simplify the comparison process and have summed up the benefits and minimum requirements in the table below.
| Credit Card Issuer and Type of Card | Minimum Requirements / Conditions | Rate for Cash Rebate |
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Minimum spend of $800 in a month |
Earn 10% cash rebate for online shopping sites only |
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Minimum monthly spend of $2,000 / $1,000 / $500 for all 3 months in a quarter |
Earn 10% cash rebates at Shopee and 3.33% on all other transactions |
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Minimum spend of $800 in a month |
Earn 10% rebates on online spend |
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Minimum spend of $800 in a month |
Earn 10% / 3% Qmoney rebate for Qoo10 / other online spend |
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Minimum spend of $800 in a month |
Earn 8% cash rebate for online shopping if online shopping chosen as a preferred category for cashback |
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Minimum spend of $800 in a month. |
Earn 8% rebates on online spend |
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Maximum spend of $4,000 for first 2 months |
Earn 8% cashback on all spend for first 2 months, 1.6% cashback after first 2 months. |
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Minimum monthly spend of $800 in a month. |
Earn 6% cash rebates for online shopping only |
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Minimum monthly spend of $800 in a month. |
Earn 5% cash rebates at Lazada, Shopee, Qoo10, Taobao, Popular online and Amazon.sg |
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Minimum spend of $500 in a month |
Earn 5% SMRT$ rebate on online shopping |
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Minimum spend of $300 / $1,000 in a month for all 3 months in a quarter |
Earn 3.33% cash rebate on all spend |
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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. Highest effective cashback rate is 3.2% |
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Minimum spend of $800 in a month |
Earn 3% rebates on online spend |
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Minimum spend of $600 in a month |
Earn 3% cash rebates on online fashion and travel spend |
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Minimum spend of $500 in a month |
Earn 3% rebates on online spend |
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Maximum spend of $5,000 for first 6 months |
Earn 3% cashback on any purchase, 1.5% cashback after first 6 months. Earn additional 1% cashback for overseas spend |
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Minimum spend of $200 in a month |
Earn 3% Qmoney rebate for all online spend |
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Additional 2% cash rebate only on Manchester United Match days and if they win their match |
Earn 3% / 1% cash rebate on all spend |
The UOB EVOL Card awards 10% cashback for online spend and is the best cash back credit card for online spending. It also offers 10% cash back for mobile contactless making it the perfect general everyday spend card as most merchants now accept contactless payments. The cash back rate offered may be among the highest as compared to other cards on the list but its high minimum spend of $800 a month and low combined cashback cap of $30 for online and mobile contactless spend means that one is more likely to receive around 6.36% cashback instead of the headline 10% cashback rate. Alternative cards on the list also have similar cashback rates and minimum spend and it is simply a matter of choosing the best card from a poor choices.
The Maybank Family & Friends Card is the best cash back credit card in Singapore 2024.
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