Best cashback credit cards in Singapore to maximise your 2022 savings
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Many cashback cards have a minimum spend criteria and there's only so much shopping, dining or travelling you can spend on each month. Plus, there are a number of big payments you can't pay with your credit card in Singapore, such as rent, insurance premiums or school fees. It is often frustrating to the cardholder that they can't earn cashback on these big bills — but with platforms such as CardUp, you can. Once you go CardUp, you never go back.
Read on to see how someone who’s paying monthly expenses of over $3,200 can save over $800 on his rent, insurance and parking payment annually!
If you're considering to sign up for CardUp but aren’t sure if the 2.25% fees can give you any savings, here are some of the best ways that work!
Best cashback credit cards to use on CardUp
For cards not listed here (e.g. Standard Chartered Bank Spree Card, or American Express True Cashback Card), please note that the base earn rate of cashback still applies.In no specific order, here are some of the most popular cashback cards that our users use when they make their payments on our platform, be it rent, insurance, education fees or more!
1. Bank of China Family Card
An often overlooked cashback card locally is the Bank of China Family Card. It's a great cashback card for everyday spend because it offers a rather high percentage of cashback compared to other cards in the market.
For a start, foodies will love this card because you get to enjoy 10% cashback on dining everyday of the week. You also get a nice 3% cashback on online purchases such as CardUp payments, supermarket spend and even hospital bills!
2. Maybank Platinum Visa Card
With up to 3.33% cashback on local purchases including CardUp payments, the cashback earned on Maybank Platinum Visa Card will automatically be used to offset your bill. The minimum monthly spend and cashback given is on a quarterly basis. Simply charge a minimum of S$300 monthly for each quarter to qualify.
3. HSBC Visa Platinum Credit Card
Last but definitely not least, the HSBC Visa Platinum Credit Card credit card is a great when you regularly spend on dining, groceries and petrol. Earn 5% cashback when you spend a minimum of $600 a month. With only $250 monthly cash rebate cap, you can spend up to $5,000 a month!
How to optimise your cashback with CardUp
By signing up with CardUp, you can start earning cashback on all your monthly expenses such as rent and insurance premiums by making these payments through our platform. Your payee doesn't even need to sign up with us or accept credit card payments. Yes, it's that easy to be earning more credit card rewards!
List of payments you can shift onto your credit card
- Rent
- Insurance
- Education fees
- Electricity bills
- Helper salary
- Income tax
- Stamp duty
- Car loans and season parking
- ...and many more!
Here's a great example
Damien has these following monthly payments:
| Payment type | Monthly Payment | Current payment method |
| Insurance Premium | $1,000 | GIRO |
| Office season parking and other expenses | $294 | Cheque |
Instead of making 3 payments via different payment platforms, Damien shifts these monthly payments onto CardUp, allowing him to settle his payments...
- All through one platform
- Using his favourite credit cards
- Get to maximise his card rewards to increase his savings
By using CardUp and splitting his payments onto 3 cashback credit cards, he can earn cashback of almost $800 annually.
| Credit card | Monthly payment | Monthly CardUp fee (2.25%) | Monthly cashback |
Annual cashback |
Net savings per year |
| BOC Family Card | Insurance $1,000 |
$22.50 ($270/year) |
$300 (Capped at $25 monthly) |
$360 |
$300 - $270 = $30 |
| Maybank Platinum Visa Card | Others $294 |
$6.60 ($79/year) |
$10 ($30/quarter) |
$120 |
$120 - $79 = $41 |
Total net savings per year: $71
Even after deducting the CardUp fee, Damien saves over $71 per year just by paying his rent, insurance premiums and season parking via CardUp! So stop hesitating and start using CardUp to get more out of your cashback credit cards now!
Disclaimer: The data mentioned in this article was collected as of 14 July 2023. Please note that the information provided is based on the latest available data at the time of collection. Subsequent developments or changes may have occurred that could affect the accuracy or relevance of the data. While we strive to ensure the reliability of the information presented, we advise readers to verify and cross-reference the data with current and authoritative sources for the most up-to-date information. The article is intended for informational purposes only and should not be considered as professional or legal advice.