03 Jul 2026

Credit cards provide rewards as you spend, giving you reward points, air miles, or cashback. Each type of reward works a little differently from each other, and comes with their own pros and cons. Reward points let you cash in for vouchers, air miles can be used to redeem air tickets and travel perks, while cashback gives you, well, cash, each time you use your card on an eligible purchase. 

If the thought of that appeals to you, then you’ll want to get a cashback credit card. In this guide, we will cover what cashback cards are, how they work, and the best cashback cards in Singapore for various spending habits – including travel, dining and everyday spending.


How do cashback credit cards work in Singapore?

Each time you charge a transaction to a cashback credit card, you will receive a certain amount of cashback. This amount is pegged at a percentage of the total transaction, and is credited directly to your credit card account.

In this way, cashback cards provide a constant stream of savings as you spend, helping to reduce your statement amount each month.

Cashback credit cards come in two formats.


Category cashback cards

Cashback is only given on selected transaction categories, such as dining, shopping, or online spends.These bonus categories can earn attractive cashback, ranging from 3% to 10% or more. All other transactions earn nominal cashback, typically 0.3% to 0.5%.

Bonus cashback cards perform best if they naturally fit your ongoing spending habits. For example, if you regularly dine out, a bonus cashback card that awards high cashback on dining may be ideal.

Bonus cashback cards can offer attractive headline cashback rates, so what’s the catch? For one, you’ll have to meet the minimum spending requirement each month to qualify for cashback. Also, these cards have a cap on how much cashback can be earned each month – this may apply separately to different bonus categories, as well as across the whole month.


Unlimited cashback card

If you prefer not to deal with monthly caps, or want to enjoy cashback across a wider variety of transactions, an unlimited cashback card may be a better choice. As the name implies, you will enjoy a fixed cashback rate that applies to all eligible transactions (more on this later). There is no monthly minimum spend to meet, so you can enjoy cashback no matter how much or little is charged to your card.

On the flipside, unlimited cashback cards offer lower cashback rates – typically around 1.5% to 1.6%, going up to 2% or more if certain conditions are met. However, you can earn cashback across different types of spending, instead of being restricted to selected categories.


Common exclusions for cashback cards

Cashback cards – even unlimited ones – do not earn cashback on excluded transactions. You can still use your cashback credit card to pay for these transactions, but you won’t receive any cashback.

Transactions may be excluded based on their Merchant Category Code, which is a system to sort the various types of credit card transactions into different categories.

Here’s a non-exhaustive list of common Merchant Category Codes excluded for credit card rewards. Note that different providers have their own list of Merchant Category Codes, which means that the same type of transaction may be treated differently by different banks.

For the avoidance of doubt, here are the Merchant Category Codes for some of the popular brands in Singapore (online and offline):


Online Merchants / Online Shopping

Transport Merchant Category Code

Food Delivery Merchant Category Code

Shopping Merchant Category Code – Clothing and Retail Outlets

F&B / Convenience Store Merchant Category Code

Groceries Merchant Category Code

Beauty and Personal Care Merchant Category Code

Petrol Merchant Category Code

Telco Merchant Category Code

Utilities Merchant Category Code

Insurance Merchant Category Code

Hospitals MCC

Common Credit Card Exclusions

Besides the above transaction categories, cashback is also not awarded for finance charges, such as late fees, interest charges and other fees.


Best cashback credit cards in Singapore

Best cashback cards for unlimited spends

As explained earlier, unlimited cashback cards provide the most flexibility, as you can earn cashback on all eligible local transactions without caps or minimum spends. They are ideal for those who spend often and enjoy not having to keep track of limits.

Mari Credit Card

• 1.5% unlimited cashback¹
• No minimum spend
• No annual fee

The Mari Credit Card offers fuss-free cashback as you spend, with no monthly minimum spends and no limit. It offers 1.5% cashback on eligible spends; while not the absolute highest, this card comes with no annual fee. This means that your cashback is fully yours to enjoy, instead of being drained away by fees.


Best cashback card for travel & overseas spending

Mari Credit Card

• 1.5% cashback with no minimum spend²
• Zero FX fees³
• Competitive foreign exchange rates⁴

Overseas travel can incur costly fees due to a combination of foreign transaction fees, and high markups on exchange rates. These fees can eat away the credit card rewards earned on your overseas spend, which defeats the purpose.

Mari Credit Card sidesteps this problem by doing away with foreign transaction fees. It also offers competitive exchange rates so you get a better deal when paying in a foreign currency – this also applies when shopping online at overseas e-commerce sites.

Besides the FX savings, you can also enjoy 1.5% cashback during your holiday. The best part? No minimum monthly spend to fulfil, making Mari Credit Card a great option as your dedicated travel and overseas spends card.


What to look for when choosing a cashback credit card


Cashback rate and structure

As noted earlier, you’ll need to decide which suits you better – a category cashback card with minimum spend and capped cashback (e.g. five preferred categories out of 10 choices), or a choose-your-own-category cashback card where you can earn a higher cashback in a few chosen categories and lower cashback on general purchases. The former gives you greater flexibility at the cost of potential cashback, while the latter provides higher potential cashback, but requires more management.

Neither choice is inherently superior – it boils down to your spending habits and preferences.

Don’t simply choose a cashback card with the highest advertised cashback rate. Be sure to understand what’s required to earn cashback, and how well it fits your spending habits.


Minimum spend requirements and cashback caps

One thing to work out when choosing a credit card is how much you intend to spend each month. This will help you find a cashback card with a monthly spend requirement that matches your budget. This is important – you won’t be able to earn cashback if you fail to meet the minimum spend.

Alternatively, go for a cashback card with no minimum spend requirements and no cashback cap – you’ll have one less thing to track during the month.


Ease of tracking rewards

Credit card rewards can be compelling or confusing, depending on your preferences. If you value simplicity, it pays to choose a cashback card with a simple structure that makes it easy to track your rewards.

Unlimited cashback cards with no caps are the best option for this purpose. Simply spend on eligible transactions and earn your cashback at a fixed rate, no guessing involved. Even better, cashback earned is automatically applied to your next statement, so you can benefit without making a redemption or taking any extra steps.


Overseas transaction fees, annual fees, and other fees

As highlighted, the fees for overseas spends can really take a chunk out of your credit card rewards. It’s important to check what fees are involved when choosing a card you plan to use often for foreign currency transactions.

Don’t forget to factor in the annual fee. After the introductory period, some providers may be able to waive your annual fee if you meet an annual spend threshold, or fulfil some other requirements.


Mari Credit Card for everyday local spends

The Mari Credit Card is built for those who value simplicity. Simply spend and earn 1.5% cashback wherever you are, whether in Singapore or shopping online. With no annual fees, no minimum spends and cashback cap, it really couldn’t get any simpler – or rewarding – than that.

And because Mari Credit Card is linked to your MariBank app, a few taps is all it takes to track your spending and rewards. No more poring over lengthy statements trying to figure out if you’ve actually received your cashback.

Try Mari Credit Card today!

Use Mari Credit Card in Singapore

Disclaimer

¹ The 1.5% Cashback is only applicable for eligible card spend in Singapore Dollars which are posted to your Card Account on or after 1 Jan 2026. Please refer to the Terms and Conditions Governing Cashback for Mari Credit Card for transactions that are not eligible for Cashback. 

² The 1.5% Cashback is only applicable for Eligible Overseas Spend in foreign currencies (non-Singapore Dollars) up to a maximum amount of S$1,500 of Eligible Overseas Spends in a Relevant Month. For more information, please refer to the Spend Overseas with Mari Credit Card: Promotion Terms & Conditions (valid till 31 Dec 2026) which apply.

³ From 1 Jan 2026, all foreign currency transactions (including overseas and online transactions) which are posted to your Mari Credit Card account will not be subject to the prevailing charge and fee in the Mari Credit Card: Interest, Fees and Charges table, which can be found here.

⁴ For the FX Rates with Mari Credit Card Promotion Terms & Conditions which apply, please see here. Valid till 31 Dec 2026.