Best No Minimum Spend Cashback Credit Cards in 2018

Here’s a question for you: What’s better than shopping?

Getting money each time you shop, of course!

Cashback credit cards help you save money by rewarding your spending with a generous cashback rate. In fact, you will find that in Singapore, there are quite a few cashback credit cards that offer high cashback rates. The catch? Almost all of them also have high minimum spend requirements that need to be met each month for you to be eligible for the high cashback rates.

This works just fine if you are able to meet the said spend threshold. But what if you are a thrifty spender? What if your lifestyle doesn’t require you to spend around S$700 each month? Does this exclude you from being able to benefit from cards that offer cashback?

Not at all!

There are cards that have no minimum spend requirement and allow you to earn cashback! Here are some of the best cashback cards in Singapore with no minimum spend for 2018:

1.      The American Express True Cashback Card

If you are looking for a credit card that rewards even the smallest of purchases with no cap on the amount of cashback you can earn, then this is the card for you.

True to its name, the True Cashback Card gives you up to 3% cashback per S$1 that you spend. The cashback you earn is broken down into:

●        3% cashback for the first 6 months from the date of card approval. This cashback, however, is applicable only on the first S$5,000 that you spend. So, the sooner you use it, the faster you earn!

●        Post the first 6 months or once you have crossed the S$5,000 limit, you earn 1.5% cashback each time you use your card.

●        You also get access to Amex’s True Cashback Deals which give you great discounts on dining, travel, and retail.

If all of this isn’t enough to sway you, here’s more:

●        You get access to American Express Selects and their Global Dining Programme.

●        If you ever have any problems while you are overseas, then you can contact the Global Assist Team to help you with whatever you need.

●        All your questions will be answered no matter what the time. All you have to do is call your customer care professional who is available 24/7.

So, what do you need to keep in mind?

Annual Fee: S$171.20 (waived for the first year).

2.      Standard Chartered Unlimited Cashback Credit Card

Unlimited cashback is what this credit card promises and it is exactly what it delivers. You get 1.5% cashback on all your spending, whether it is S$2 or S$200! There is no cap on the cashback you can earn each month. Here’s what else you get with this credit card:

●        The card comes with the EZ-Link facility enabled, so you only require this one card for all of your needs.

●        You also enjoy dining privileges such as 1-for-1 offers at NamNam Noodle Bar and Soup Restaurant among others.

If you are looking for more ways to earn cashback, Standard Chartered has got you covered. You can earn 20% cashback on all transactions made on the Grab App. To qualify for this extra cashback, though, you need to spend a minimum of S$900 per month on eligible retail transactions. The S$900 can also include the transactions made on the Grab app.

So, what do you need to keep in mind?

Annual fee: S$192.60 (waived for the first 2 years).

Grab cashback is capped at S$30 per month.

3.      HSBC Advance Credit Card

Up to 3.5% cashback with no minimum spend? This isn’t a dream, it's true. The HSBC Advance Credit Card gets you the following:

●        If you are an Advance banking customer, you enjoy 3.5% cashback on monthly spends above S$2,000. If you aren’t an Advance banking customer, monthly spends above S$2,000 get you 2.5% cashback.

●        For spends amounting to S$2,000 or less, all Advance banking customers get 2.5% cashback and other customers get 1.5% cashback.

So, what do you need to keep in mind?

●        Cashback is capped at S$125 per month for Advance banking customers and S$70 for other customers.

●        To become an Advance banking customer, you need to have your salary credited to your HSBC account or have a recurring deposit with the bank. The minimum monthly amount for both needs to be S$3,500 and you need to have either applied for a credit card from HSBC or be an existing HSBC cardholder.

●        Annual fee:S$192.60 (waived for the first year). The annual fee is perpetually waived for Advance banking customers.

4.      POSB Everyday Card

The POSB Everyday Card rewards you every time you spend on daily essentials. All your spending, be it on fuel, groceries, utility bills, or medicines, will earn a cash rebate of up to 12%. Here’s the breakdown:

●        You get a cash rebate of 5% on Sheng Siong spends. This rebate is valid on the first S$1,000 you spend each month at Sheng Siong.

●        You earn 3% cash rebate when you shop for personal care products at Watsons.

●        Your utility bill payments for SP Group and StarHub will earn you a cash rebate of 1% for the first S$100 per month.

●        All other spends on your card will get you 0.3% cash rebate.

What else do you get with the POSB Everyday Card?

●        Up to 31 July 2018, get 5% cash rebate on overseas spends.

●        Up to 30 September 2018, get up to 10% cash rebate on dining spends.

●        The card is an all-in-one card that can also be used as an ATM card as well as for MRT and bus rides.

●        Also, get this, your cash rebate never expires!

So, what should you keep in mind?

●        Annual fee: S$192.60 (waived for the first year).

●        To earn additional cash rebate on overseas spends, you need to spend a minimum of S$1,000 per calendar month.

●        To earn additional cash rebate on dining spends, you need to spend a minimum of S$800 per qualifying period.

5.      Maybank FC Barcelona Visa Signature Card

If you identify as a football fan, then you should definitely get Maybank’s FC Barcelona Visa Signature Card (unless you are a Real Madrid fan, in which case you can use any of the other 4 credit cards). Here is what you get with this card:

●        You get 1.6% cash rebate on all local spends with no cap.

●        The best part, you get a chance to win a trip for two persons to watch the team play live, every football season!

So, what should you keep in mind?

Annual fee: S$120 (waived if you spend a minimum of S$10,000 per year).

The best part about a cashback credit card with no minimum spend is that you don’t have to constantly worry about hitting that spend threshold. If you generally tend to spend lesser than others or have fewer expenses on some months, then you should consider getting one of these credit cards. So, go ahead and splurge (or not) since cards with no minimum spend also mean no hassles!