Best cashback credit cards in Singapore to maximise your 2021 savings

The CardUp Team Jan 27, 2021 2:32:45 PM
Here's a list of the best cashback credit cards to use on CardUp in 2021!

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

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. UOB One Card

  2. Bank of China Family Card

  3. Maybank Platinum Visa Card

  4. Standard Chartered MANHATTAN World Mastercard Card
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

 

> More savings with lowered CardUp fees at just 2.25% per transaction — learn more!

 

1. UOB One Card

UOB One Card

Already known as one of the best cashback credit cards in the market, the UOB One Credit Card  has a 3-tier spend system that rewards 3 levels of cashback to the cardholder.

Based on a spend of S$500 or S$1,000 monthly made over 5 or more purchases, cardholders enjoy up to 3.33% cashback for each qualifying quarter. This gives a quarterly cashback amount of S$50 or S$100 respectively.

Those who spend $2,000 a month made over 5 or more purchases enjoy a maximum of 5% cashback for each qualifying quarter, giving a quarterly cashback amount of S$300.

While the various levels of cashback might be confusing to some, it can be extremely useful for those who need to pay a large bill on a monthly basis and have no problems meeting the minimum spend to earn the maximum amount of cashback.

 

2. Bank of China Family Card

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 7% 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!

 

3. Maybank Platinum Visa Card

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. Similar to the UOB ONE Card, 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.

 

4. Standard Chartered MANHATTAN World Mastercard Card

Standard Chartered MANHATTAN World Mastercard CardThe Standard Chartered MANHATTAN World Mastercard credit card is suitable for those with large monthly expenses. With 3 cashback tiers capped at S$200 per quarter, you can get up to S$800 in cashback a year with no minimum spend required. Here's how the 3 tiers work: 3% cashback when you spend S$3,000 or more a month, 1% cashback when you spend between S$1,000 and S$2,999 a month and 0.5% cashback when you spend below S$1,000 a month.

 

Learn more about our 2.25% fees

 

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

 

Here's a great example

Damien has these following monthly payments:

Payment type Monthly Payment Current payment method
Rent $1,960 Bank transfer
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...

  1. All through one platform
  2. Using his favourite credit cards
  3. 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
UOB One Card

Rent

$1,960

$44.10

($529/year)

$100

($300/ quarter)

$1,200*

$1,200 - $529

= $671

BOC Family Card

Insurance

$1,000

$22.50

($270/year)

$30

(Capped at $30 monthly)

$360

$360 - $270

= $90

Maybank Platinum Visa Card

Others

$294

$6.60

($79/year)

$10

($30/quarter)

$120

$120 - $79

= $41

*Valid for users who meet the minimum spend requirement of 5 or more purchases on the UOB ONE Card

 

Total net savings per year: $802

 

Even after deducting the CardUp fee, Damien saves over $800 per year just by paying his rent, insurance premiums and season parking via CardUp! That's a hefty amount of savings, isn't it? So stop hesitating and start using CardUp to get more out of your cashback credit cards now!

 

Ready to maximise your cashback?

Sign up for a free account   

 


Enjoy lowered CardUp fees when you pay for your Prudential insurance premiums on CardUp. Find out more:

CardUp x Prudential — Exclusive partnership promotion! Enjoy discounted CardUp fees of 1.6% (u.p. 2.6%) on your insurance premiums. T&Cs apply.

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