Utility bills are something you have to deal with every month. With every new facility you register for, the expenses keep increasing. And if you miss the payment deadline, you will have to pay an additional late fee in the next month. In today’s world, electronic items dominate a household. So, the electricity bill is bound to be on the higher side. The same goes for other things like water and telephone services. To manage your expenses better, you can choose to pay using credit cards that offer cashback on utility payments. Here are some credit cards you can benefit from in this regard.
The BOC Family Card gives you a cash rebate of 5% on telecommunication bills and hospital bills. Cash rebates for utility bill payments are capped at S$40 for every billing cycle, for every account. You can receive a maximum of S$100 for every primary card and S$20 rebate for every supplementary card, adding up to S$1,440 for a year. The minimum amount you need to spend to be eligible for cashback is S$700 a month.
Citi M1 Card offers Citi Rebate for recurring M1 bills of different ranges. You can enjoy up to 10% rebate on recurring M1 bills of S$600 and more. If you spend up to S$300 on this card for an M1 bill, you will get a rebate of 0.5%. Similarly, for bills between S$300 and S$600, you will get 3% cash back.
With the Citibank SMRT Card, you can save 1% on telecommunication bills from Singtel, M1, and StarHub. You also get a 1% discount on Town Council bills. The card also offers various discounts for transactions above and below S$300.
With the HSBC Premier Mastercard Credit Card, you will get up to 5% cash rebate on recurring Cable TV, mobile phone, and internet bills. You get the maximum rebate when the minimum amount you spend on the card is S$800 every month for three months.
OCBC 365 Credit Card gives you a rebate of 3% on recurring telecommunication bills from StarHub, M1, MyRepublic, Singtel, and CirclesLife. The same rate applies to recurring electricity bills from Sembcorp Power, and Senoko Energy. The minimum monthly spend is required to be S$800, to be eligible for the rebates. If you don’t spend this minimum required amount, you will earn rebates at only 0.3%.
POSB Everyday Card offers rebates on purchases from Best Electricity, Union Power, SPC, Geneco, Tuas Power, Watsons, iSwitch, Sheng Siong, SP Group, and Starhub. You can enjoy a 1% rebate on telecommunication and electricity bills, without a minimum spend requirement. You get an annual fee waiver for one year.
This card by UOB Card has exclusive offers for Singtel customers. You can get an annual cash rebate of up to S$360 on consolidated Singtel bills. If you spend a total of at least S$500 in a month on Singtel bills, you can get a cash rebate of S$30. You can tag 8 Singtel accounts at the most with one Singtel-UOB Card, and receive the rebate on the accumulated bill amount. You can register for the MobileShare Supplementary Plan where you can enjoy 12 months of free subscription and 50% discount in the subsequent years.
With the UOB Delight Credit Card, you can enjoy a 3% rebate on telecommunication and Town Council bills. The minimum amount you must spend is S$400 per month. By spending this minimum amount, you will receive a rebate of 3%. For transactions below S$400, you will get a rebate of 0.3%.
Credit cards for utility bill payments work just like any other card offering rewards points. But the unique point is that you will earn cashback or reward points is you are paying these bills regularly.
For example, the UOB Delight Card gives 3% SMART$ rebate on recurring bills for telecom companies, insurance, SPH newspapers and Town Councils. With these SMART$, you can enjoy savings at many participating merchants, including petrol pumps, retail outlets and more.
The finance charges associated with utility credit cards are listed in the table below:
|Card Name||Interest Rate for Retail Purchases (p.a.)||Interest Rate For Cash Advance (p.a.)||Interest-Free Period||Late Payment Penalties|
|BOC Family Card||28.88%||28.88%||23 days||5% of minimum due or S$100, whichever is higher|
|BOC Zaobao Card||28.88%||28.88%||23 days||5% of minimum due or S$100, whichever is higher|
|Citi M1 Card||26.90%||29.90%||25 days||Fee: S$100 Penal interest rate: 29.9% p.a.|
|Citibank SMRT Platinum Visa Card||26.90%||29.90%||25 days||Fee: S$100 Penal interest rate: 29.9% p.a.|
|HSBC Premier Mastercard||25.90%||28%||20 days||Fee: S$55|
|HSBC Visa Platinum Card||25.90%||28%||20 days||Fee: S$55|
|OCBC 365 Card||25.92%||28.92%||23 days||Fee: S$100|
|POSB Everyday Card||25.90%||28%||20 days||Fee: S$100|
|Singtel-UOB Card||25.90%||28%||21 days||Fee: S$90 Penal interest rate: 28.9% p.a.|
|UOB Delight Card||25.90%||28%||21 days||Fee: S$90 Penal interest rate: 28.9% p.a.|
Here are some key benefits of using credit cards for utility bill payments:
These cards can be used by anyone who has a lot of utility bills to pay every month. Since these cards have a low annual fee and fairly simple eligibility criteria, anyone with an annual income of S$30,000 can easily acquire them and make the most of the cash rebates and rewards available. Utility bills include some or all of the following:
Here are some reasons why you should purchase a credit card that offers benefits on utility payments.