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Version 1 was published on 30 September 13. Since then, there have been some notable changes with OCBC rolling out a new card called 365 Card, HSBC removing the rebate privileges from Revolution card and Maybank changing the benefits of their Visa Platinum Card! According to a study by OCBC Bank covering 4,700 consumers last year, close to 60 per cent of the respondents said that their primary card was a cash-rebate or cashback credit card. (Source: http://news.asiaone.com/news/singapore/960-cashback-new-ocbc-credit-card)

With these facts, let’s see the whole spectrum of cards that offer some form of rebates, whether it’s a base rate or bonus rebates when you fulfil certain criteria.

rebates2014-1 rebates2014-2Are you lost by the number of rebate cards available? Relax, just think about what you use your credit cards mainly then decide from there.

Cheaponana’s Top 3 Rebates Card

1. OCBC Frank/Bank of China Shop! Card

These 2 cards stand out as they offer similar privileges – excellent rebate for online shopping. OCBC Frank card provides a 6% rebate if you spend a minimum of $500 per month (otherwise just a paltry 0.5%) and the card also acts as a NETS flashpay card which means you can use it for your ERP/parking/MRT & bus rides as well as shops that accept NETS flashpay such as Cheers, Old Chang Kee etc. Note that there is a cap of $60 of rebate per month for the bonus rebate although subsequent amount above $1k will earn 0.5% rebate

For Boc Shop! Card, there is a minimum spend of $500 per month as well to qualify for the bonus rebate, so anything less than $500 earns 0.5%, between $500-$1000 5.5% and >$1000 6% rebate. Note that there is a monthly cap of $100 for this card. Any shopping done in department stores also yields 5.5-6% rebate so long as you meet the minimum spending of $500.

OCBC website has a list of websites that are eligible, but do note that recurring payment to telcos and utility bills are excluded.

2. UOB One Visa/Maybank Platinum Visa

There is a separate post that discusses these 2 cards.

In a nutshell, both cards offer 3.33% rebate so long as there is consistent spending of minimum $300 per month for 3 months. Definitely good for people who have recurring bills to telcos, utilities, gym membership etc as you just need to do the necessary paperwork at the start and so long as your bill amounts are consistent and you are sure they do not fall below $300 per month, the rebate is as good as free money. But do take note that you will not get money if you fall short of even a few cents for a particular month in that quarter.

If you just want one card that offers good rebate without thinking too much, this should be it. $300 a month of credit card spending should be easily attained by most people.

3. Citibank Dividend/Citibank SMRT

I have been an avid supporter of Citibank since I received my credit cards as the card privileges have always been good. These are amongst the first few credit cards that I received and I have still managed to find good use for them despite the onslaught of many other cards in the market. Citbiank Dividend offers decent petrol discount at Esso (check out the best cards for petrol here), and now they offer 5% rebate at supermarkets as well. However, do note that there is a minimum spend of $50 in order to qualify for these bonus rebates, and you need to accumulate DIV$50 before the money gets credited into your credit card account (1 year validity). On top of that, there is 2% CITI rebate at Dairy Farm chain of supermarkets such as Cold Storage and Giant and these rebates NEVER expire. And of course, the 2% rebate for dining is paltry compared to what OCBC 365 Card has to offer, but there are actually other cards that are pretty good for dining as well which will be reviewed in a separate post later.

Citibank SMRT is an excellent card for coffee places. With 5% SMRT$ rebate and an additional 10% CITI rebate, there is NO other card that can match up to it. And even if you can’t hit $600 of spending a month, the amount of rebate you get is only 0.3% less which is not too great a difference.

Hence, the Citibank cards are pretty good if you spend frequently in these above mentioned places and despite a small amount of spending, you get excellent rebates as well.

What’s your favourite rebate card? Comment and let us know!

 

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9 Responses to What is the best rebate credit card in Singapore? #Version 2

  1. r3ddot says:

    For BOC, you have to spend $500 of online or selected shop to be eligible. Therefore it might not be the best if the online purchases are less than $500

  2. r3ddot says:

    Btw, good post. keep it up

  3. Cheaponana says:

    Hi you are right, but honestly there are a lot of things you can spend on online to accrue that $500. Accumulate and splurge all during that one month! Unless a better alternative comes along I guess..

  4. Jay says:

    Thanks for the post.

    Think there’s 2 typos:

    “Cheaponana’s Top 3 Miles Card” — cash rebates

    “But do take note that you will get money if you fall short of even a few cents for a particular month in that quarter.” — missing “not”?

    • Cheaponana says:

      Wow! You are very sharp indeed! Thanks for pointing out the error. I’ve corrected the typos above 🙂

  5. Geraldine says:

    Just wanted to note that for the UOB One card, it not only requires a min of $300 spending for 3 months, it also requires a min of 3 purchases. Missed that out once with only 1 big ticket item charged and there was no cash rebate!

    • Cheaponana says:

      Thanks Geraldine for your feedback!
      I’ve never realised that you need a minimum of 3 purchases as I’ve set up my account for monthly deductions. Will take note in the next update!

  6. Trazora says:

    Will like to point out Manhatten card don’t give rebate for Insurance premium payment. Not even base 0.5%.

    CIMB platinum mastercard also require at least 3 transactions per month for rebate.

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