Credit Card

There are two faces to a credit card. On one side, it can be a tool for financial destruction and a saboteur of personal credit scores. On the other, it can help you cut corners in daily expenses and save you a great deal of money. This is where the cashback-powered credit cards come into play.

Each of the big boys on the banking scene has a card or two that specialises in giving cash rebates back to its customers who spend a certain minimal amount a month. This has proven to be an attractive feature in determining credit card signups. With a buffet spread of cashback credit cards out there, how do you know which is best suited for your kind of lifestyle? We crunch the facts and figures of our top four picks.

American Express True Cashback


In true cashback fashion, American Express is offering 1.5% cashback on ALL kinds of purchase. To sweeten the deal, new sign-ups get to enjoy twice the cashback rate at 3% on their expenditures for the first six months, applicable to a maximum spending of S$5,000. 

While other credit cards would have users qualifying for its cashback rewards with minimum spending, or have a cashback cap imposed, American Express True Cashback card has completely waived them off, along with the first year fee. In other words, you would be spared from the vicious cycle of spending more just to claw back those few dollars.

If you find your credit expenditures spread out over a variety of lifestyle areas and you are looking for a regular feature on your cardholder, perhaps AMEX would make for your go-to credit card of choice. When you do, the ‘no-minimum-spending, anytime, anywhere’ cashback rewards may not be the only thing that puts a smile on your face; last year in September, a credit card satisfaction survey conducted with over 2000 Singaporeans revealed that AMEX boasts the most number of satisfied customers. Little wonder they are the first credit card issuer chosen to give back to consumers with another kind of reward: the cool factor of transacting with Apple Pay.

  • Cashback perks: No minimum spending. Apple Pay feature.
  • The catch: Promotional cashback rate of 3% lasts for the first six months before it goes back to a flat rate of 1.5%.
  • Ideal for: High credit spenders, globetrotters and technophiles who swear by Apple.

Citi Cash Back Card


At 8% cashback on dining and groceries, Citi Cash Back Card offers one of the most competitive rates compared to other credit cards’ cashback reward programmes. The card also entitles you to Citibank Gourmet Pleasures, an exclusive privilege that contains a plethora of dining deals and promotions across all its preferred restaurants. The best part? The 8% cashback can be compounded on top of it.

Other than the gastronomes, drivers would also rejoice at Citi Cash Back’s ability to relieve their car upkeep; you get to enjoy up to 20.88% discount if you top up your petrol at Esso, and up to 20.8% at Shell. Either way, it translates into substantial petrol savings that most other cashback cards have not been able to match. The way we look at it, driving out to gourmet restaurants has never made more economical sense.

  • Cashback perks: 8% cashback on dining and groceries, up to 20.88% discount on petrol, 1-for-1 drinks at ZOUK Wine Bar and Velvet Underground.
  • The catch: You need to spend at least S$888 each month to qualify. Cashback amount is capped at S$25 per category.
  • Ideal for: Foodies who enjoy the finer things in life. Car owners. The weekend warriors of ZOUK.

OCBC 365


Launched in mid-2014, the OCBC 365 credit card rewards you with cashback all year round, as its name suggests. If you think that the Citi Cash Back Card is a well-balanced lifestyle option that has unparalleled cashback on dining, this offering by OCBC is giving Citibank a run for its money.

First of all, you won’t have to go through the hassle of keeping tabs on the various categories you have been charging to, because you get S$80 straight up as long as you hit the minimum spending of S$600 each month.

Second, you get 6% cashback on weekend dining and 3% on weekdays and overseas dining; assuming you are a heavy eater who spends most, if not all of his free time wining and dining, the 365 is the obvious winner in terms of cashback value. The 3% cashback also applies to groceries at supermarkets worldwide, online shopping (air tickets, movies and clothing apparels) as well as telecom bills with any of the three local telcos.

  • Cashback perks: 6% cashback on weekend dining, additional 15% discount at Zalora and complimentary personal accident travel insurance worth S$800,000 if you charge air tickets to the card.
  • The catch: Minimum spending of S$600 each month. Cashback amount is capped at S$80 regardless of category.
  • Ideal for: Serious foodies, fashionistas and those with a penchant for going on a gazillion Bangkok getaways in a year.



You must have been living deep under a rock if you don’t know what YOLO means by now. Although the UOB YOLO card seems to encourage a slippery slope of reckless spending among the millennials because, well, you only live once, the perks that come with it are undeniably good. So good, it might elicit a collective “OMG!” among members of the selfie generation. Arming yourself with the YOLO card is almost like inserting yourself onto the VIP guest list to the most happening parties. Imagine being able to enjoy 8% promotional cashback rate on any weekend dining and entertainment activities, 1-for-1 drinks at the likes of Loof, Overeasy and Tanjong Beach Club, free entry into ZOUK for you and a friend and discounts on major hotel booking websites for your next holiday.   

Too good to be true? It seems so, for the only major downer we found is the cashback cap of S$60, which is really just a minor red flag in light of all the rockstar promos.  

  • Cashback perks: 8% cashback on dining and entertainment both locally and overseas. The rate will be revised to 6% starting October this year. Receive S$50 cash credit when you apply.  
  • The catch: Minimum spending of S$600 each month. Requires a YOLO-spirit to truly reap the benefits of the card.
  • Ideal for: Millennials who can’t stop living out any of Katy Perry’s songs. Or just about anyone who desire to relive their glory days.  

Don't just simply take our word for it, compare the best Cashback Credit cards on GoBear's metasearch engine and get the better card that suits your lifestyle needs.

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