In Singapore’s fast-paced, digitally driven economy, using a credit card has become more than just a convenient payment method—it’s a tool to earn rewards and save money. For low spenders, especially students, fresh graduates, or those managing tight budgets, cashback credit cards present a practical way to get something back on everyday purchases without needing to spend thousands each month.
But not all cards are created equal. Many popular cashback credit cards require high minimum spends or come with annual fees that cancel out their benefits for modest users. This guide is tailored for Singaporean residents who spend under S$500–S$800 monthly and want to get the most value from their credit card without overcomplicating their finances.
Why Cashback Cards Matter for Low Spenders
Low spenders often miss out on rewards because many cards are geared towards high-income individuals with big-ticket expenses. Traditional cashback cards may offer great rates, but only after hitting a steep monthly spend threshold. Others may provide flashy perks—like airport lounge access or concierge services—that have little value to someone simply trying to save on groceries, transport, and Grab rides.
That’s why it’s crucial for low spenders to choose cards with:
- No or low minimum spend requirements
- Simple flat cashback structures
- Low or no annual fees
- Ease of cashback redemption
- Practical cashback categories (e.g. transport, groceries, online shopping)
What to Look for in a Credit Card as a Low Spender
1. No/Low Minimum Spend:
Cards that offer cashback from the first dollar spent or with very achievable thresholds (S$100–S$300) are ideal.
2. No/Low Annual Fees:
Annual fees can quickly negate the small cashback amounts low spenders earn. Look for cards with lifetime fee waivers or easily waived fees.
3. Flat vs. Category-Specific Cashback:
- Flat cashback is fuss-free—ideal if you have diverse spending habits.
- Category-specific cashback can offer higher returns but requires effort to track and optimise spending.
4. Cashback Caps:
Cards with high or no cashback caps ensure that your rewards don’t hit a ceiling too early in the month.
5. Ease of Redemption:
Prefer cards that credit cashback automatically. Avoid those requiring manual redemption or complex reward systems.
Top Cashback Credit Cards in Singapore for Low Spenders
Standard Chartered Simply Cash Credit Card
Key Features:
- 1.5% flat cashback on all spend
- No minimum spend
- Annual fee: S$196.20 (waived for 2 years)
Why it’s good for low spenders:
Its flat cashback rate and zero spend requirement make it perfect for small, varied purchases. Plus, there’s no need to track categories.
Potential drawback:
Annual fee kicks in after 2 years unless you negotiate a waiver or cancel the card.
Citi Cash Back+ Card
Key Features:
- 1.6% flat cashback
- No minimum spend
- Annual fee: S$194.40 (waived for 1 year)
Why it’s good for low spenders:
A higher-than-average flat cashback rate and no spend requirement. Works well for anyone who wants fuss-free rewards.
Things to note:
Fee waiver only for the first year, and no bonus cashback categories.
UOB Absolute Cashback Card
Key Features:
- 1.7% cashback on all spend
- No minimum spend
- Annual fee: S$194.40 (waived first year)
- American Express acceptance
Why it’s good for low spenders:
One of the highest flat cashback rates in Singapore, perfect for general spenders. Cashback is credited automatically.
Watch out:
Not all merchants accept Amex—especially small retailers and hawkers.
American Express True Cashback Card
Key Features:
- 1.5% unlimited cashback
- 3% cashback on first S$5,000 in first 6 months
- No minimum spend
- Annual fee: S$174.40 (waived first year)
Why it’s good for low spenders:
The 3% promo is attractive for big one-off purchases (e.g. a laptop or holiday). Flat rate makes it manageable for regular use.
Limitation:
Same as UOB Absolute—Amex acceptance can be limited.
OCBC INFINITY Cashback Card (New in 2024)
Key Features:
- 1.6% flat cashback on all spend
- No minimum spend
- Annual fee: S$194.40 (waived 2 years)
Why it’s good for low spenders:
Modern, digital-first card with strong cashback and mobile management via OCBC app.
Downside:
Annual fee waiver is limited to two years.
CIMB World Mastercard
Key Features:
- 2% cashback on dining, online shopping, travel, and transport
- No annual fee, ever
- Minimum spend: None for base cashback
Why it’s good for low spenders:
No fee, decent category cashback, and no need to overthink rewards.
Consider:
You need to stick to specific categories to benefit from the 2% rate.
HSBC Revolution Card
Key Features:
- 10X Rewards (equivalent to 4 miles per S$1) on online and contactless payments
- No annual fee
- No minimum spend
Why it’s good for low spenders:
Though technically a points card, its rewards system is very straightforward and ideal for regular online or contactless transactions.
Tip:
If you prefer cashback over miles, you can convert points to offset your bill via HSBC’s Pay with Points system.
Tips for Maximising Cashback as a Low Spender
1. Consolidate Your Spending:
If your preferred card has a minimum spend of S$300, focus your purchases there instead of splitting between cards.
2. Track Exclusions:
Payments for insurance, school fees, utilities, and government services often don’t earn cashback. Read the fine print.
3. Use Apps to Track Spending:
Apps like Seedly or Planner Bee can help you monitor card usage and alert you to cashback thresholds.
4. Don’t Overspend for Cashback:
If you have to buy something you don’t need just to hit a minimum spend, the cashback isn’t worth it.
5. Reevaluate Every 6–12 Months:
Credit card offers and cashback percentages change. Make sure your card is still serving your needs.
Credit Card Eligibility in Singapore
To qualify for most credit cards in Singapore, you need:
- Minimum annual income of S$30,000 (for Singaporeans/PRs)
- Minimum age of 21
- Supporting documents like NRIC, payslips, or CPF contribution statements
If you don’t meet the income requirement, consider a secured credit card, where you place a fixed deposit with the bank as collateral. These cards work similarly and can help build your credit history.
More on eligibility from MoneySense (Singapore’s national financial education programme).
Final Thoughts
For low spenders in Singapore—such as students, young professionals, or those managing tight budgets—a well-chosen cashback credit card can provide meaningful savings without added stress. The best cards don’t require high minimum spends or complicated reward structures. Instead, they offer fuss-free, flat cashback from the first dollar spent or extra rewards in everyday categories like dining, groceries, transport, or online shopping.
Choosing the right card means understanding your own spending habits. If your purchases are small and spread across categories, a flat cashback card may work best. If you consistently spend in one or two areas, category-specific cards might deliver better value.
Avoid chasing rewards by spending more than you normally would. Cashback should work for you—not the other way around. With smart choices and consistent spending, even modest monthly purchases can add up to rewarding returns over time.
Remember, every cent counts. The goal is to stretch your dollar further while building healthy financial habits.
