BEST Singapore Cashback Credit Cards with NO MINIMUM SPEND
Introduction of Cashback Credit Cards:
Cashback credit cards with no minimum spend are great tools to help you accelerate your financial journey especially for low spenders as they do not have heaps of requirements or Tnc’s to go through to earn those cashback that’s it with lower requirements comes lower cashback and rewards. So we definitely have to give and thick here in this article, we will look at cashback credit cards with no minimum spend in the current market of 2021 and compare them for you.
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Firstly we have the standard charter bank unlimited credit card. I have actually done a more detailed review covered in this article over here but to go through it quickly it basically means a 1.5 cashback on all spend with really not many rules just spend and you get a 1.5 percent cash back at the end statement month. So it’s good for people who do not want to spend so much time calculating their cashback and can spend their time on more meaningful things. Now the downside is the cashback percent is pretty low in standard but for what you get really you can’t complain much.
Maybank FC Barcelona:
The number two contender is the Maybank FC Barcelona card as the name suggests this card has a relatively cool design that has the Barcelona football club logo and the surface is actually quite reflective. It has a slightly higher cashback percent of 1.6 percent on any span a little bit better than the standard chartered unlimited now. The cooler thing about Maybank credit cards is you can use the Maybank treats sg app. Which has occasional coupons and promotions that you can apply for just like this one over here. Where I can get additional cashback by spending on e-commerce merchants and of course the promotions differ from time to time. So do download the ad and check out their latest promotions.
ICBC Chinese Zodiac:
The next card I’m going to talk about is not so popular which is the ICBC Chinese zodiac card now. This card gives you 1.6% cashback on all spends similar to the Maybank Barcelona card. The reason why it’s so unpopular maybe because it’s a Chinese bank and most local Singaporeans do not really apply for china bank’s credit cards.
But you know what’s the cool thing it actually offers you six dragon passes every year and for those who are unfamiliar with dragon passes. You can actually use a dragon pass to access your airline lounges such as SATS, Dnata, ambassador, and plaza premium lounge in the Singapore Changi airport, and even in international airports, you can use them as long as they are eligible for dragon pass access. So when all the air travel has resumed after the pandemic I’m very sure this process will come in very useful in hand.
Citi Cashback plus / Cashback+
The next card I’m going to talk about is more popular which is the Citi cashback plus card. Now Citi is a big brand in credit cards because of what they offer but this cashback card, in particular, is not too attractive for me now. Mainly because it is just 1.6 similar to the Maybank Barcelona and ICBC Chinese zodiac but to redeem the cashback you have to send an SMS to 3d mid and you can only redeem it in blocks of five dollars. So it has two downsides number one you have to apply via SMS for the cashback and number two you can only redeem it in five-dollar blocks so it is not too recommended by me.
HSBC Advance (capped at $70 for non Account customer)
Next is another popular cashback credit card as well the HSBC advanced visa credit card which unlike other cashback credit cards has a cap of 70 dollars for non-account holders. So for the terms and conditions, it has 1.5 percent cash back for spends up to 2 000 and 2.5 percent cashback. If your spend is above two thousand dollars it provides an additional one percent cash back. If you are an HSBC global everyday account customer so that’s how they advertise that you can get up to 3.5 cashback using this card.
So to maximize the cashback of this card you have to do the following steps.
- Open the HSBC everyday global account.
- Transfers 2 000 every month to maintain the account.
- Make 5 qualifying transactions so they can meet the requirements.
- Optimally you want to have two thousand dollars of spending.
So after all these steps, you can get seventy dollars of cashback on the two thousand dollars to spend which translates to three point five percent cashback slightly a bit more complicated than other cards but you do get rewarded with a cashback.
American Express True Cashback Credit Cards
The last contender is my favorite the American express true cashback card. So this card offers 1.5 cashback for all your spending and the more important thing is it is eligible for crap-paid pop-ups. What this means is that you want to use your AMEX through cashback card to top up your grab account and then use the credits in your grab account to pay your merchants. So according to the grab reward chart, you can get six reward points per dollar spent on your grad pay which is equivalent to a one-point two percent cash back.
If you convert two thousand and five hundred points to five dollars value get one point five percent cashback from your AMEX true cash cashback card and 1.2 percent from your grab rewards which makes up a total of 2.7 percent which is much higher than other cards. Another thing about Amex is if you use the AMEX app you can apply for the AMEX offers which can be quite good deals from time to time you can see from this example here where there is a Microsoft offer and another thing about Amex cards is that you can use the AMEX QR to pay your local hawkers and that means paying your hawker stores through credit cards how awesome is that okay final round.
My top pick:
Let’s go on to my top picks of these cash back credit cards my topic is definitely the Amex true cashback card because of the potential to earn 2.7 percent of cashback or rewards based on the discussion just now. So you want to first top-up to your grad pay account which earns 1.5 percent cash back and then gets 1.2 percent of rewards via the grad pay rewards which is a total of 2.7 percent cashback or rewards now. If you do have occasional big-spending I think the HSBC advanced is actually relatively good at 3.5 percent because you get 70 dollars worth of cashback on a spend of 2 000 with just some relatively easy terms and conditions to fulfill but the thing is if you have regular spends above two thousand dollars you may want to consider going for the UOB one card instead.
BONUS: UOB Absolute Cashback Credit cards
I know a new card called the UOB absolute cashback card gives you 1.7 unlimited cashback with very minimal terms and conditions. So this is my quick comparison of the current existing cashback credit cards in the market of 2021.