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Popularity of Online Shopping
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 Cards Cash Rebate for Online Spending
Comparison Table
| Credit Card Issuer and Type of Card | Minimum Requirements / Conditions | Rate for Cash Rebate |
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Minimum monthly spend of $600 in a month. Additional 5% cash rebate subject to personalised spending goal |
Earn 5% + 5% cash rebates on online spend. |
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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 spend of $800 in a month |
Earn 10% / 3% Qmoney rebate for Qoo10 / other online spend |
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Minimum spend of $600 in a month |
Earn 6% rebates on online spend |
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Minimum spend of $1,000 in a month |
Earn 6% cashback on all spend |
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Minimum monthly spend of $2000 for all 3 months in a quarter |
Earn 5% cash rebates on all transactions |
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Min. deposit of $100k / $50k in StanChart Unlimited$aver Account for 5% /3% cashback |
Earn 5% / 3% cashback on any purchase else earn 1.5% cashback on any purchase if not linked to StanChart Unlimited$aver Account |
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Maximum spend of $5,000 for first 3 months |
Earn 4.5% cashback on all spend, 1.6% cashback after first 3 months. |
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HSBC Advance customers / Non-HSBC Advance customers with minimum monthly spend of $2,000 |
Earn 3.5% / 2.5% cashback for all spend |
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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 $300 in a month |
Earn 3% SMRT$ rebate on online shopping |
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Minimum spend of $600 in a month |
Earn 3% cash rebate on online spend. |
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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 spend |
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Minimum spend of $800 in a month |
Earn 3% rebates on online spend |
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Minimum spend of $1,000 in a month |
Earn 3% cashback on all spend |
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Minimum spend of $3,000 in a month |
Earn 3% cash rebate on all 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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None |
Earn 3% cashback on online transactions in foreign currency and 2% cashback for online transactions in local currency |
Best Cashback Credit Card for Online Spending
The newly rebooted OCBC Frank Credit Card awards a sustainable 6% cashback for online spend with a reasonable minimum spend of $600 a month. It also offers 6% cash back for mobile contactless and in-store foreign currency spend making it the perfect general everyday spend card as most merchants now accept contactless payments. Cashback for online spend / mobile contactless spend are capped at $25 each which is somewhat low but similar to other credits in the list. The cash back rate offered is not exactly eye-popping as compared to other cards on the list but with most other credit cards having higher minimum spend, it is certainly one of the best online cash back cards in the market right now.
The rebooted OCBC Frank Credit Card adds an attractive 6% cashback for mobiles contactless spend...
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