Best No-Frills Unlimited Cashback Credit Cards with No Minimum Spend

Best No-Frills Unlimited Cashback Credit Cards with No Minimum Spend
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What are No-Frills Cashback Credit Cards?

No-frills Cash Back Credit Cards are credit cards that offer a fixed cashback for all purchases without any minimum spend requirements. Some of these no-frills cash back credit cards also award unlimited cash back as an additional benefit for cardholders. No-frills cash back credit cards are ideal for everyday general spend or large purchases and are most suitable for cardholders who want to be rewarded with cash back for their purchases but not be faced with the pressure of any spending requirements. The main disadvantage of most no-frills cash back credit cards is their low cashback rates as compared to category-based or tiered-based cash back credit cards. The list below shows the list of no-frills cashback credit cards in Singapore.

 

No-Frills Cashback Credit Cards Comparison Table

Credit Card Issuer and Type of Card Cashback Cap Cashback Rate

American Express True Cashback Card

3% cashback capped at $150, No cap for 1.5% cashback

Earn 3% / 1.5% cashback for first 6 months / thereafter

StanChart Spree Card

$60 a month

Earn 2% / 1% cashback on contactless and mobile payments / all other purchases

UOB UnionPay Card

$50 a month

Earn 2% cash rebates on all transactions

Maybank FC Barcelona Visa Signature Card

None

Earn 1.6% cashback on local spend

ICBC Chinese Zodiac Card

None

Earn 1.6% cashback on local spend

Citi Cash Back+ Card

None

Earn 1.6% cashback on all spend

Standard Chartered Unlimited Cashback Card

3.5% or 1.5% bonus cashback capped at $300. No cap for 1.5% base cashback

Eearn 1.5% cashback on any purchase
Earn 5% / 3% cashback on any purchase if linked to StanChart Unlimited$aver Account with min. deposit

ICBC Global Travel MasterCard

None

Earn 1.5% cashback on local spend

CIMB World MasterCard

None

Earn 1.5% cashback on any purchase

Maybank Manchester United Platinum Visa Card

None

Earn 1% cashback on local spend. Earn an additional 2% cashback on days when Manchester United wins a Premier League match

CIMB Visa Infinite Card

None

Earn 1% cashback on any purchase

BOC Visa Infinite Card

None

Earn 1% cashback on any purchase

 

Best No-Frills Cashback Credit Card

Having looked hard (like really really hard) into this list of no-frills cashback credit cards, we have concluded that it is impossible to pick the best no-frills cashback credit card simply by the cashback rate as the difference in cashback of 0.5% to 1% will certainly not make a cardholder become significantly richer from that extra cashback gained from picking one credit card over the other. However, high spenders who want a no-frills credit card with unlimited cashback can seriously consider the Standard Chartered Unlimited Cashback Card which awards 5% cashback (comprising of 1.5% base cashback and 3.5% bonus cashback) if a depositor has an average daily balance of minimum $100,000 in his or her Standard Chartered Unlimited$aver Account. One will have to forgo a potential monthly interest of ($100,000 * 0.014 (highest possible fixed deposit interest rate))/12 = $117 in order to benefit from the 5% cashback. Hence, he or she will have to spend in excess of $3,343 ($117/0.035) on the Standard Chartered Unlimited Cashback Card. One can easily spend $3,343 if there are one-off large expenditures such as wedding banquet, purchasing cars or renovation expenses since it has unlimited cashback.

Here are some factors to consider when choosing a no-frills credit card from the list. American Express and UnionPay Credit Cards are not as commonly accepted as Visa or MasterCards and might not serve the purpose of being an everyday general spend card. American Express, UOB, Standard Chartered Bank and even Maybank have regular tie-ups with many online and offline merchants for discounts and promotions and their credit cards could come in handy when you need them for such card-related discounts. The cards listed here are generally entry-level credit cards which mean a minimum salary of $30,000 a year but the Visa Infinite Cards listed are actually targeted at higher income earners of minimum salary of $120,000 a year and comes with extra benefits like lounge access and complimentary travel insurance. These perks might be nice to have but not neccessary useful when looking for a no-frills cashback credit card. Lastly, one can consider making use of signup promotions for cashback to get extra cashback for signing up for the credit cards listed here although it could mean having to meet a minimum spend in order to qualify for the signup cashback.

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