Ever found yourself buying an extra $100 worth of unnecessary junk on Shopee just to hit the minimum spend on your credit card?

Cashback credit cards are great for consistent spending like groceries and transport, but if you don’t have a fixed budget, they can be a bit annoying.

The most popular cashback cards in Singapore usually require you to hit a minimum spend of $600 or $800 every month on eligible spending. Fail to meet this criteria and you can kiss that 5% or so cash rebate goodbye.

Top 5 no minimum spend cashback credit cards in Singapore

Here are 5 best cashback cards that don’t require you to hit a minimum spend — and have surprisingly decent cashback rates too.

Credit card 

Cashback 

Cashback cap

POSB Everyday Card

6% at SPC, 5% at Sheng Siong, 3% at Watsons, 1% on utilities

$40 at Sheng Siong per month

Citibank SMRT Card 

4.7% on groceries, fast food, movies and coffee; 2.7% on online shopping

$600 per year

Standard Chartered Spree

3% online in foreign currency, 2% online in local currency + contactless payments, 1% on everything else

$60 per month

HSBC Advance Card

2.5% (HSBC Advance customer) OR 1.5% (non-customer) on all purchases

$125 (HSBC Advance customer) OR $70 (non-customer) per month

American Express True Cashback Card

3% on all purchases in first 6 months up to $5,000; subsequently 1.5%

N/A

POSB Everyday Card

 Got a DBS Multiplier account, and looking for a DBS/POSB credit card to earn bonus interest? The most fuss-free way to do that is with the POSB Everyday Card, which has no minimum spend at all.

Even though it has no minimum spend, the POSB Everyday Card gives you decent rebates at certain merchants like Sheng Siong and SPC. If you happen to frequent these merchants, then it will truly be an “everyday” card.

Cashback

Category

Merchants

6% (total 20.1%)

Petrol

SPC

5%

Groceries

Sheng Siong

3%

Health & beauty

Watsons

3%

Pet supplies

Pet Lovers Centre

1%

Utilities

Starhub, SP Group, Geneco, iSwitch, Union Power, Best Electricity, Ohm, Tuas Power

You get 0.3% rebate for everything else.

Cashback is capped at a reasonable $40 a month for Sheng Siong (that’s about $800 of spending) and $1 for the utility bills.

Currently, POSB Everyday Card is also running a promotion where you can get 3% to 8% cashback on food delivery, online shopping and dining. However, there’s a minimum spend of $800 for this and it’s only until 30 September 2020.

Citibank SMRT Card

Technically, the Citibank SMRT Card does have a minimum spend of $300 a month — which is really low compared to the usual $600 or $800.

But if you don’t meet the minimum spend, your cashback drops by only 0.3%. So whether you hit $300 or not, you still get a decent cash rebate! That makes the Citi SMRT Card one of the best no minimum spend cashback card in our books.

Check out the long list of merchants where you can earn cashback with no minimum spend:

Cashback

Category

Merchants

4.7% or 5%

Groceries

FairPrice, Giant, Sheng Siong (min. $50 per transaction, otherwise you get 2.7% or 3%)

4.7% or 5%

Casual dining

BreadTalk, Burger King, KFC, McDonald's, Pizza Hut, PastaMania, Sakae Sushi, Subway

4.7% or 5%

Coffee

Coffee Club, Dome Café, Gloria Jean's Coffee, Starbucks Coffee, Coffee Bean & Tea Leaf, The Connoisseur Concerto (tcc), Toast Box

4.7% or 5%

Movies

Cathay Cineplexes, Filmgarde, Golden Village, Shaw Theatres

4.7% or 5%

Other retail

Pet Lovers Centre, POPULAR Bookstores, Toys"R"Us

2.7% to 3%

Online 

All online shopping, excludes travel-related spending

1.7% to 2%

Health & beauty

GNC, Guardian, Nature's Farm, NTUC Unity Healthcare, Watson's

1.7% to 2%

Transport

EZ-Reload (more than $30 per transaction, otherwise only 0.7% to 1%)

0.7% 1%

Utilities

Selected bills with Citibank One Bill

There is also no monthly cap, only an annual one of $600, which works out to about $50 a month.

The one annoying thing about the Citibank SMRT Card is that you earn cashback in SMRT$, which are not automatically credited — you have to redeem them via SMS.

Standard Chartered Spree Credit Card

If keeping track of specific merchants sounds like a bother to you, the Standard Chartered Spree Credit Card is probably a better fit.

Its tiered cashback structure is as easy as 1-2-3 to understand. Without having to hit a minimum spend each month, you can get a modest cash rebate on online spending and offline contactless payment. Even the “everything else” category gets 1% instead of the typical negligible 0.3%.

Cashback

Category

3%

Online spending in foreign currency and all vPost spend

2%

Online spending in local currency

2%

Contactless payment e.g. Visa payWave, Apple Pay

1%

Everything else

The cashback is capped at $60 a month in total, which is quite reasonable.

HSBC Advance Cashback Credit Card

The HSBC Advance Cashback Credit Card is a useful credit card for those who need to spend on random expenses that don’t fall nicely in the categories above.

Instead of getting cashback based on spending categories, your cash rebate depends on how much you spend that month. Here are the cashback rates depending on whether you are an HSBC Advance customer or not:

 

HSBC Advance customer

Non-HSBC Advance customer

Cashback with no min. spend

2.5%

1.5%

Cashback if you spend $2,000 that month

3.5%

2.5%

Cashback cap

$125 per month

$70 per month

By the way, you can sign up for HSBC Advance membership with monthly salary credit of $3,500 if you’re keen to boost your cashback rate. You’ll also get a perpetual fee waiver on your card.

Although there are no specific categories for cashback,HSBC excludes common transactions like e-wallet top-ups, AXS payments, property management fees, tuition fees and utility bills. See the T&Cs for the complete list.

American Express True Cashback Card

Like the HSBC Advance Cashback Credit Card, the Amex True Cashback Card is a no-minimum-spend, no-category, no-brainer credit card to use.

You get 3% cashback in the first 6 months of card usage, and then 1.5% thereafter, as follows:

Cashback

Applicable to

Cap

3%

First 6 months, up to $5,000

$150

1.5%

All subsequent spending

Unlimited

There are plenty of credit cards offering a similar cashback structure: just a modest 1.5% or 1.6% cashback with no minimum spend to meet, no categories to spend in, and no cap. These include the Standard Chartered Unlimited Cashback Card, Maybank FC Barcelona Visa Signature Card and ICBC Chinese Zodiac Credit Card.

However, AMEX does have that slight edge with its welcome offer of 3% cashback.

And compared to most other credit cards, American Express has a very short list of exclusions, meaning you will still get cashback for all your miscellaneous bills and fees.

Credit cards with minimum spend requirements can tempt you into spending more than you need. If your monthly expenditure rarely crosses $800, then you should choose a cashback credit card with no minimum spend, rather than adjust your lifestyle to hit it. A cashback credit card with no minimum spend is also a great secondary card for when you bust the cashback cap on your main card.

Find the best credit card in seconds. GoBear.com

Aaron Tan

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