Earning cash rebates is an exciting aspect for every credit cardholder. When you choose a particular credit card you always go for a card which gives you maximum rewards and benefits for purchases done all through the year. Every single purchase should give you more returns than what you spend. Welcome gifts, vouchers, coupons, redemption options, discounts and deals might attract individuals towards a credit card. But what truly adds value to a credit card purchase is the cash rebates or even cash backs got by customers. When you shop, dine or travel, credit cards carrying rebates pay you back more than S$500 in a year as instant discounts, cash rebates or cashbacks. Some cards also offer excellent rebates on online purchases and generally there is no monthly cap imposed on the number of transactions done at merchant outlets. The icing on the cake is that cash rebates are applicable on purchases done at any corner of the globe.
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.
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 offers one of the best cash rebate cards with excellent privileges and discounts.
The UOB One card comes with unbelievable cash rebates and fuel offers for Singaporeans.
The Quarterly Cash Rebates Programme from HSBC offers you exceptional rewards on dining, fuel and grocery shopping across Singapore.
The OCBC FRANK Credit Card is the best card for making online purchases and offers yearlong cash rebates to customers.