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Revealed! The Best Cashback Credit Cards for Grocery Shopping in Singapore

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Grocery shopping. Two words that can incite fear even in the strongest of people. Not because you may think of it as a chore. But due to the fact that there are hardly any trips made to the grocery store where you don’t end up buying more than what you need. In fact, we are pretty sure that, like us, your idea of living dangerously is to go to the grocery store without a list!

Jokes aside, it shouldn’t come as a surprise a typical family of 4 would spend about S$500 – S$600 on groceries. And this isn’t including all our impulsive buys. While changing your purchasing habits isn’t easy, you can ensure that the expense is easier to handle. You can do this by using a grocery credit card that offers you cashback on your grocery and supermarket spends.

To help you save while you spend, here is our list of the best cashback credit cards for grocery shopping in Singapore.

1. Citi Cash Back Card

The Citi Cash Back Card (full review here) rewards you with 8% cash back on your grocery spends, up to a monthly cap of S$25. This means that you shouldn’t spend more than $312.50 on groceries if you’re keen on maximising your cash back.

What we love: 8% cash back on groceries is one of the highest in town. It’s great for smaller families that groceries often, but also love to dine out.

The flipside: The minimum monthly spend to be eligible for this cash back is S$888.

Related: Citi PayAll 101: How Rewarding Is Citi’s New Payment Platform?

2. UOB Delight Credit Card

If a large part of your income goes towards groceries, and you find yourself shopping at Cold Storage or Giant often, then this card is the one you should get. With the UOB Delight Credit Card, you earn up to 8% rebate at supermarkets such as Cold Storage, Jasons, Market Place, Giant, and Guardian.

What we love: The annual fee is waived for the first year and is relatively low at just S$85.60. And if you decide to buy house brand products at Cold Storage, Giant, and Guardian, you get a 10% discount!

The flipside: The rebate is capped at S$50 SMART$ per month and you are rewarded with SMART$ that need to be redeemed, instead of getting cash to offset your bill. There’s also a minimum spend of S$800 to earn the highest rebate. If you spend between S$400 to S$799, the rebate earned is 3%.

You may like: UOB One Card Review: The Quickest Way to Get 5% Cashback on EVERYTHING

3. POSB Everyday Card

As its name suggests, the POSB Everyday Card (full review here) is made for those who use their credit card to pay for most of their daily expenses – groceries, petrol, utility bills, and more.

What we love: The 5% cash rebate for groceries bought at Sheng Siong, capped at S$50 a month, makes this card a winner. In fact, there is no minimum spend to earn the 5% rebate or any rebates!

The flipside: The rebates for groceries is only applicable for Sheng Siong spends and BOC has launched a competing card with more rebates than the POSB Everyday Card.

Must Read: Ultimate Guide to Choosing a Credit Card

4. BOC Sheng Siong Card

If there was ever a card made for those who love grocery shopping at Sheng Siong, this is the one (full review here).

What we love: You can earn up to 10% cash rebate on your Sheng Siong spends, with a potential savings of S$90 a month. This rebate is earned in two parts. The first part allows you to earn a 7% rebate at Sheng Siong with no minimum spend. The second, an additional 3% rebate, is awarded only if you spend a minimum of S$400 at places apart from Sheng Siong during the same period.

This card has the lowest annual fee of S$30. It might as well be free!

The flipside: If we were to nitpick, it’s that you have to shop at Sheng Siong.

Also read: Best Credit Cards for All-Category Cashback

5. HSBC Visa Platinum Credit Card

HSBC’s Visa Platinum Credit Card (full review here) lets you earn cash rebates on groceries, dining, and petrol.

What we love: You can earn a 5% rebate in a quarter on your grocery spends if you spend a minimum of S$600 per month for that quarter.

The flipside: The rebate is capped at S$250 per quarter, which is around S$83.33 each month. If you don’t meet the required spend for all three months in a quarter, your overall cashback is affected.

Related: 5 Hacks to Get the Best Credit Card Deal

6. Citibank SMRT Card

The Citibank SMRT Card (full review here) offers you SMRT$ rebates and allows you to redeem them for vouchers. Get up to 5% savings on groceries, movies, online shopping & more with this card.

What we love: A minimum spend of S$50 per transaction awards you with 5% rebate at FairPrice, Sheng Siong, and Giant. For transactions below S$50, you get a 3% rebate. If you shop at FairPrice Xtra Kallang Wave, even better, because you earn up to 7.3% rebate!

The flipside: If you buy most of your grocery from non-partner grocery stores such as Cold Storage, you won’t earn any SMRT$ rebates for those purchases. You can, however, redeem your existing SMRT$ for vouchers that can be used at these stores. But if a majority of your spending is at non-partner stores you would be better off with a card that rewards those spends.

Related: When is it Worthwhile to Pay Your Credit Card’s Annual Fee?

7. OCBC Plus! Visa Card

The OCBC Plus! Visa Card (full review here) is made to help you manage your daily expenses by providing you with great savings from FairPrice.

What we love: The 7% rebate at FairPrice stores and at Warehouse Club allows you to save while buying your daily essentials. Purchases made online on FairPrice’s website earn you a 3% cash rebate.

The flipside: While the rebate is for purchases at FairPrice and Warehouse Club, you are eligible to earn this rebate only if you spend a minimum of S$500 each month at places other than FairPrice, FairPrice On, Warehouse Club, and Unity.

Must read: Guide to the Best Cashback Credit Cards + When to Use Which Cards

8. OCBC 365 Credit Card

One of our favourite cards (full review here) in the past when it first launched. These days, it’s not as attractive as some of the newer credit cards.

What we love: 3% cashback on grocery spends at supermarkets throughout Singapore. Couple this with the cashback you earn on other categories such as dining, shopping, petrol, telco bills, and other eligible retail spends and you’ve got yourself a pretty great card to help you save while you spend!

The flipside: You are eligible to earn the 3% cashback only if you spend a minimum of S$800 each month. If you spend less than that (even S$799), you earn only 0.3% as cashback. Additionally, your cashback has a monthly cap of S$80.

Related: 5 Things You Didn’t Know About 0% Interest Instalment Plans, But Should Know!

9. Maybank Family & Friends Card

In addition to merchant discounts, the Maybank Family & Friends Card (full review here) also awards you with rebates on your everyday spends in Singapore and Malaysia.

What we love: Earn 8% cash rebate at selected grocery stores when you spend S$1,000 per month and 5% cash rebate when you spend S$500 per month. Not just this, the annual fee of S$180 is waived for 3 years.

The flipside: The cap on the rebate you can earn annually for grocery spends and other categories (transport, retail, leisure, health and wellness, fast food delivery) that earn 8% cash rebate is S$600. So, per month you can only earn S$50. Moreover, inability to meet the rather high minimum spend means that you will earn a flat rate of 0.3% irrespective of the category of spend.

Useful read: What To Do When You are Unable to Make Credit Card Payments

10. BOC Family Card

The BOC Family Card (full review here) is designed to reward your everyday spending. From groceries to other daily necessities, this card is one that takes care of your family’s needs.

What we love: You earn 5% cash rebate at supermarkets in Singapore.

The flipside: To be eligible to earn the rebate, you need to charge a minimum of S$700 to your card each month. Plus, the total cash rebate that you can earn on supermarket spends is capped at S$40 per billing cycle. This cap also includes purchases that earn 0.3% on all other retail spends.

Related: 4-Step Guide to Protecting Your Credit Card Information Online

Saving while you spend isn’t that difficult, is it? It does come with a caveat, though. You see, all of these great ways to save is possible only when you meet your minimum monthly spends and pay your credit card bill in full and on time. Paying only the minimum amount or defaulting on your payments will only lead to interest being accrued on your monthly statement. So, instead of using the cashback you earn to save on your grocery shopping, you will only be spending more.

So, go ahead and buy that organic spinach, not only will it be good for you, but you will also end up saving quite a bit!

You may also like:

  • 9 Essential Tips to Remember In Order to Maximise Your Cashback Credit Card
  • 6 Credit Card Mistakes You Must Avoid for Good Financial Health
  • 5 Ways to Save on Your Credit Card Bill

The post [Infographic] 6 Things to Learn About Money from Warren Buffett appeared first on algo investing.

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