Cash Rebate Credit Cards

    Every credit card issuer encourages its customers to use their card for various purchases. To entice continued use, it provides customers with various benefits in the form of rewards which can be used to redeem vouchers, gifts, cashback and rebate. In simple words, it is an incentive programme for customers.

    Everything About Cash rebate Credit cards you must know:

    The limit on your Credit Card

    Although earning cash rebates on your card can be very intriguing, you must know how to maximize your rebates. For instance, to earn cash rebates you will have a minimum spend criteria which means unless you spend a particular amount on your credit card, you will not be eligible to earn cash rebates on any purchases. There is also a cap that will be placed on the cash rebates that you can earn on your credit card, meaning once you have earned the maximum cash rebate offered on your card, your future purchases will not earn any more rebates. Knowing this limit can help you switch to another card once you reach the maximum cash rebate limit on your existing one and continue earning rebates.

    Terms and Conditions concerning your Credit Card

    Not all purchases made on your credit card will fetch you cash rebates. Certain credit cards specifically offer cash rebates only on select outlets and on select purchases. Additionally, most credit cards will not offer any cash rebates when you use your card to pay your annual fees and other fees and charges associated with your card. You need to know which establishments and purchases qualify for the maximum rebates on your card and use your card specifically for those purchases in order to reap the benefits on your cash rebate credit card.

    Knowing the promotions and introductory offers on your Credit Card

    Some credit cards offer introductory cashback on your first few purchases or more cash rebates on the initial few transactions. These offers typically last for a specific period of time. You must not confuse them with the actual rebates offered on your credit card. This may cause you to overspend on your card in the hopes of making half of your money back through cash rebates and cashback when in reality the promotion or introductory offer has elapsed and you had no clue about it. Therefore, you must always check the runtime on these offers so you know exactly on which/how many transactions and until when you are eligible for the credit card promotion and use your card accordingly.

    Pick a Cash Rebate Credit Card according to your spending habit

    If you simply choose a card that offers you cash rebates on everything, although all your purchases may fetch you rebates, they will be significantly lower than cards that offer rebates on specific purchases and categories. For instance, if you will use your credit card mainly for shopping, then choose a card that offers maximum rebates on shopping (retail and/or online shopping) so you can earn more rebates.

    Best Cash Rebate Credit Cards

    Here are the top credit cards in Singapore that offer you the best cash rebates on purchases. The exclusive cash rebates offered is listed below for each card.

    Citibank Cash Back Credit Card

    Citibank offers one of the best cash rebate cards with excellent privileges and discounts.

    • Get a 5% cash rebate on fuel purchases. When you refuel, save up to 18.1% at Shell and 18.3% at Esso stations.
    • Earn 2% rebates when you dine at top restaurants across the world.
    • Save on grocery shopping, health and beauty products with a rebate of 2%, applicable worldwide.
    • Get a guaranteed cash rebate of 0.5% on all other purchases.

    UOB One Card

    The UOB One card comes with unbelievable cash rebates and fuel offers for Singaporeans.

    • Get up to 3.33% cash rebates on all your credit card purchases, with a minimum spend of S$300.
    • Overseas spends get you a cash rebate of 2%.
    • Save on petrol with savings up to 21.74% on Caltex Platinum 98 petrol at Caltex.
    • Get up to 20% SMART$ rebate on purchases at over 800 merchants across Singapore.

    HSBC Platinum Credit Card

    The Quarterly Cash Rebates Programme from HSBC offers you exceptional rewards on dining, fuel and grocery shopping across Singapore.

    • Get up to 5% cash rebates with a minimum spend of S$800 in a quarter along with 14% discount at Shell and Caltex petrol stations.
    • Grocery shopping earns you a cash rebate of 5%, with a minimum spend of S$800 in a quarter.
    • Dine at top restaurant chains and get cash rebates of up to 2%, with a minimum spend of S$800 in a quarter.
    • When you sign up for a HSBC Platinum Credit Card online, you can earn a cash rebate of S$20 after your card is approved.

    OCBC FRANK Credit Card

    The OCBC FRANK Credit Card is the best card for making online purchases and offers yearlong cash rebates to customers.

    • Get up 6% cash rebates and save up to S$720 per year on online purchases, with a minimum spend of S$500 per month.
    • Earn 0.5% cash rebates on all other credit card purchases.
    • The OCBC FRANK Credit Card also acts as a NETS flashpay card with a Top-up feature for parking, MRT and bus rides. The 6% cash rebate also applies to the first 2 Auto Top-ups.

    Credit Card Cash Rebate programme

    A rebate is also a kind of cashback, where, you get back a percentage of the money you spend on certain purchases, as deemed eligible by the credit card issuer.

    However, unlike cashback, you will not be able to cash the amount. The percentage of purchase that you get can be used to offset other purchases. This could be a very important tool for planning your monthly budget.

    Usual terms of cash rebate programmes:

    • The rebate offered may be limited to the merchants that are partnered with the bank. There are, however some credit cards which offer a lower percentage of rebate should you purchase from other places.
    • These rebates may be credited to your account only if you spend the minimum amount set by the credit card issuer. In case you spent less than that, there could be a lower percentage of rebate, depending on the issuer.
    • There could be a limit to how much rebate you can earn on your credit card spends.
    • Rebates may be applicable only for purchases made in certain categories as determined by the bank.

    Doing the math:

    Suppose your card offers the following terms for cash rebate:

    • 3% rebate for
      • weekday dining & entertainment
      • Online shopping
      • Paying for travel with the card
    • All other purchases will get you 0.3% rebate.
    • You have to spend a minimum amount of S$600 per month to be eligible for the rebate.

    Let us look at an illustration in the table below to understand how it works out for you in a month:

    Category Amount spent in a month Rebate
    Weekday dining & entertainment S$500 S$15
    Online shopping S$400 S$12
    Paying for travel with the card S$700 S$21
    Total S$1,600 S$48

    For a total spend of S$1,600, you get a rebate of S$48. In case your total spend for a month was less than S$600, you will have to be content with a rebate of 0.3% on all spends.

    There could be various promotions offered by banks from time to time which might offer higher rebates for a specific time-period. Understanding how rebates work will help you choose the best card to serve your purpose.

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