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 #Updated 3 July 14 – Version 2 available here

Even though there are many different types of rewards systems for credit card users – cash rebate, points, miles – there are still many out there who prefer to get back cash since using vouchers may be difficult as you may not visit the store often and there is always a chance of the voucher expiring. Similarly for miles, there may be a conversion fee charged by the bank for each request for transfer of miles, so one has to be very judicious, not to mention menticulous research on which airline to redeem as well.

Cheaponana.com has compiled a list of the ‘rebates’ cards out there in the market. Do note that the more specific ones e.g. CITI Paragon card, UOB Singtel, OCBC Robinson have been excluded as they are more restrictive and are mainly restricted to that particular merchant.

Basic rebate simply refers to the minimum % of rebate one will receive upon spending, without any discrimation of product or place of spending. One will notice that the minimum would be 0.3%, and at most 0.5% without any minimum spending. If you are judicious with your spending, then UOB One Card would be good as it yields 3.33% if you meet the T&C. However, if you fail to meet the minimum for one month, then the entire quarter’s spending would be wasted! This is a very risky T&C that ANZ Platinum, HSBC Revolution and Visa Platinum have employed as well. However, be rewarded handsomely if you are very cautious with your spending esp with 10%-20% of cash rebates from dining which will be very substantial.

For the bonus rebates, Citi SMRT, Maybank Family & Friends, POSB Everyday and UOB-JCB stand out as they offer good rebates without any minimum required if you use the cards at the correct place. Never knew that fast food deliveries will yield you that 5% rebate? Now remember to use Maybank Family & Friends Card!

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