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Best Singapore Cashback Credit Cards for Online Shopping

Best Singapore Cashback Credit Cards for Online Shopping
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1. Popularity of Online Shopping in Singapore

2. Best Cash Back Credit Cards for Online Shopping

3. Which Credit Card is Best for Online Shopping Cash Back?

 

Popularity of Online Shopping in Singapore

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.

 

Best Cash Back Credit Cards for Online Shopping

Credit Card Issuer and Type of Card Minimum Requirements / Conditions Rate for Cash Rebate

CIMB Visa Signature Card

Minimum spend of $800 in a month

Earn 10% cash rebate for online shopping sites only

UOB One Card

Minimum monthly spend of $2,000 / $1,000 / $500 for all 3 months in a quarter

Earn 10% / 8% cash rebates at Shopee and 5% / 3% on all other transactions

Bank of China Qoo10 World MasterCard

Minimum spend of $800 in a month

Earn 10% / 3% Qmoney rebate for Qoo10 / other online spend

Maybank Family & Friends Card

Minimum spend of $800 in a month

Earn 8% cash rebate for online fashion if online fashion chosen as a preferred category for cashback

UOB EVOL Card

Minimum spend of $600 in a month

Earn 8% rebates on online spend

OCBC FRANK Credit Card

Minimum spend of $600 in a month.

Earn 6% rebates on online spend

DBS Live Fresh Card

Minimum monthly spend of $600 in a month.

Earn 5% cash rebates on online spend.

POSB Everyday Card

Minimum monthly spend of $800 in a month. Valid until 30 Sep 2021

Earn 5% cash rebates at Lazada, Shopee, Qoo10 and Amazon.sg

Citibank SMRT Card

Minimum spend of $500 in a month

Earn 5% SMRT$ rebate on online shopping

UOB Absolute Cashback Card

Maximum spend of $3,000 for first 3 months

Earn 5% / 1.7% cashback on all spend for first 3 months / thereafter

Citi Cash Back+ Card

Maximum spend of $5,000 for first 3 months

Earn 4.5% cashback on all spend for 1st 3 months, 1.6% cashback after first 3 months.

HSBC Advance Credit Card

Minimum $2,000 deposit in fresh funds to HSBC Everyday Global Account and minimum 5 card transactions a month and spend of $2,000 in a month

Earn 3.5% / 2.5% / 1.5% cashback for all spend

Maybank Platinum Visa Card

Minimum spend of $300 / $1,000 in a month for all 3 months in a quarter

Earn 3.33% cash rebate on all spend

ICBC Unionpay Dual Currency Card

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%

Standard Chartered Unlimited Cashback Card

Min. deposit of $100k in StanChart Unlimited$aver Account for 3% cashback

Earn 3% cashback on any purchase else earn 1.5% cashback on any purchase if not linked to StanChart Unlimited$aver Account

BOC ZaoBao Card

Minimum spend of $600 in a month

Earn 3% cash rebate on online spend.

BOC Family Card

Minimum spend of $800 in a month

Earn 3% rebates on online spend

UOB Yolo Visa Signature Card

Minimum spend of $600 in a month

Earn 3% cash rebates on online fashion and travel spend

OCBC 365 Credit Card

Minimum spend of $800 in a month

Earn 3% rebates on online travel spend and food delivery only

ICBC Koipy Dual Currency Card

Minimum spend of $1,000 in a month

Earn 3% cashback on all spend

Standard Chartered MANHATTAN World MasterCard

Minimum spend of $3,000 in a month

Earn 3% cash rebate on all spend

SAFRA DBS Credit Card

Minimum spend of $500 in a month

Earn 3% rebates on online spend

American Express True Cashback Card

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

Bank of China Qoo10 Platinum MasterCard

Minimum spend of $200 in a month

Earn 3% Qmoney rebate for all online spend

StanChart Spree Card

None

Earn 3% cashback on online transactions in foreign currency and 2% cashback for online transactions in local currency

Maybank Manchester United Visa Card

Additional 2% cash rebate only on Manchester United Match days and if they win their match

Earn 3% / 1% cash rebate on all spend

 

Which Credit Card is Best for Online Shopping Cash Back?

The OCBC Frank Credit Card awards a sustainable 6% cashback for online spend and is the best cash back credit card for online spending. 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. The minimum spend to receive the 6% cash back is a reasonable $600 a month. 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.

 

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