Cashback refers to a reward system (most commonly offered by credit cards, debit cards, payment apps, or online platforms) where you get a percentage of your spending returned as cash, statement credit, wallet balance, or direct deposit.
Here are the main types of cashback structures, based on how rewards are earned:
Flat-rate cashback
You earn the same fixed percentage (e.g., 1%, 1.5%, or 2%) on every purchase, regardless of category or merchant.
- Pros: Super simple—no tracking categories, no activation needed, predictable rewards.
- Best for: People with varied spending who want hassle-free rewards.
- Examples: Cards offering unlimited 1.5%–2% on all spends.
Tiered (or bonus/fixed category) cashback
Higher rates in specific, fixed categories (e.g., 5% on groceries, 3% on dining/gas, 6% on streaming), with a lower base rate (usually 1%) on everything else.
- Pros: Maximizes rewards if your spending aligns with the boosted categories.
- Cons: Lower rewards outside those categories; some have annual/quarterly caps.
- Common categories: groceries, dining/restaurants, fuel/gas, online shopping, travel, entertainment, utilities, streaming.
- Best for: People with concentrated spending in 2–3 predictable areas.
Rotating category cashback
High rates (often 5%) in categories that change every quarter (e.g., Q1 = groceries & streaming, Q2 = gas & online shopping). You usually need to activate them each quarter, with quarterly spending caps (e.g., $1,500). Base rate (1%) applies otherwise.
- Pros: Potentially highest rewards if you match spending to the current categories.
- Cons: Requires tracking/activation and staying under caps.
- Best for: Organized users willing to plan around quarterly changes.
Brand-specific or partner cashback
Extra-high cashback (5%–10% or more) only at specific merchants, apps, or brands (e.g., Amazon, Flipkart, Zomato, PhonePe, Airtel). Often combined with other structures.
- Common in India: 5%–25% on select platforms like Amazon, Swiggy, or bill payments.
- Best for: Heavy users of particular apps/stores.
Other variations
- Customizable/choice-based: Pick one category each quarter/year for boosted rate (e.g., 3%–5% in your chosen area).
- Tiered by spend volume: Slightly higher rate after hitting annual spending thresholds.
- App/wallet-specific: Instant cashback on UPI, recharges, bills via apps like PhonePe, Google Pay, or Paytm (often 5%–10% on select merchants).
Compare top cashback cards in Singapore
Here’s a comparison of the top cashback credit cards in Singapore as of early 2026 (February), based on recent reviews and comparisons from reliable sources like MoneySmart, SingSaver, Suitesmile, and others. These focus on personal cards with strong cashback rewards, emphasizing high effective rates, ease of use, caps/minimum spends, and annual fees (typically around S$196.20, often waived in the first year).
Cashback cards in Singapore generally fall into two main types:
- Unlimited/flat-rate — Simple, no categories to track, great for varied or high spending.
- Category-boosted/tiered — Higher % in specific areas (e.g., dining, online, groceries), but often with minimum spends, caps, or quarterly requirements for max rewards.
Top Unlimited/Flat-Rate Cashback Cards (Best for Simplicity & No Hassle)
These offer consistent % on all eligible spends with no caps or minimums.
- UOB Absolute Cashback Card — Highest flat rate at 1.7% unlimited on all eligible spends. No minimum spends, no cap. Best overall for fuss-free, high everyday rewards. Annual fee S$196.20 (1st year waiver). Min income S$30,000 (citizens/PRs).
- Citi Cash Back+ Card — 1.6% unlimited cashback on all eligible spends. No min spends, no cap. Often praised for reliability and welcome bonuses (e.g., S$380 cash or points on low spend). Annual fee S$196.20 (1st year waiver). Min income S$30,000.
- OCBC INFINITY Cashback Card — 1.6% unlimited (strong on online/overseas). No min spend/cap. Good for digital-heavy spenders. Annual fee S$196.20 (1st year waiver).
- Standard Chartered Simply Cash Card — 1.5% unlimited cashback. Very straightforward, with occasional promos (e.g., S$350 cash via PayNow on low spend). Annual fee S$196.20 (1st year waiver).
Winner for unlimited: UOB Absolute edges out at 1.7%, ideal if you want the highest baseline without thinking.
Top Category/Tiered Cashback Cards (Best for Maximizing Specific Spends)
These can deliver 3%+ effective rates but require meeting spends or hitting caps.
- UOB One Card — Flagship for consistent spenders: Up to 10% on partners (e.g., Shopee, Grab), 8% on groceries (local/overseas), and up to 3.33% based on all else when meeting quarterly min spends (e.g., S$2,000/month tier). Great for groceries, food delivery, and online. Rewards credited quarterly.
- Trust Cashback Credit Card — Up to 15% on your chosen preferred category (customizable), plus 1% unlimited on everything else (increasing to 1% across board from Mar 2026 in some updates). 0% foreign transaction fees. No annual fee. Strong for targeted high rebate spends.
Other notables:
- Maybank cards (e.g., XL/Platinum) — Often 5%+ in dining, shopping, travel/hotels, with quarterly mins.
- DBS LiveFresh or similar — High % on contactless/online (e.g., 5–10% in niches).
- OCBC 365 or similar legacy — Up to 6% in dining/groceries/petrol, but check current terms.
Quick Comparison Table (Key Contenders – February 2026)
Recommendations
- If your spending is spread out/varied: Go for UOB Absolute (1.7%) or Citi Cash Back+ (1.6%) — maximal simplicity and value.
- If you concentrate on groceries, online shopping, food delivery, or specific merchants: UOB One often nets the highest effective returns (3%+ overall) for consistent spenders.
- If you want no annual fee + customizable high %: Trust Cashback stands out, especially with overseas perks.
- Always check the latest terms on official sites (e.g., exclusions like certain MCCs, welcome offers valid till Feb/Mar 2026). Match to your habits—track 1–2 months of expenses to estimate returns. Many sites like MoneySmart or SingSaver offer comparison tools and exclusive sign-up bonuses (cash/points). Apply via those for extras!
- In practice, many cards mix these (e.g., flat base rate + tiered bonuses + occasional rotating offers). In India (as of 2026), popular examples include high online/dining cashback cards, UPI-linked rewards, and brand-tied ones like Amazon Pay or SBI/PhonePe variants—often giving 5%+ in targeted spends.
To get the most value, match the type to your actual spending habits (track a month's expenses to see your top categories).
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