Citi’s 8% Cashback Card: Is It Really Worth the Hype?
Picture this: you’re a Singapore spender and you spot a credit card that promises as much as 8 % cash rebate on daily purchases. Sounds like a rain‑cloud of freebies, right? That’s the Citibank Cash Back Card – the flashy superstar of cashback offers in the city.
How It Stacks Up Against the Crowd
Most other cashback cards are average‑weather lovers: 3‑5 % cashback tops the chart. When you compare that to Citi’s 8 % rate, the difference is like hiking from a sidewalk to a trail of pie‑flavored rewards.
Why This Card Feels Extra Special
“Why am I getting more cash back?” you ask. Because Citi’s deal covers a wide range of everyday spending—groceries, dining, transport, even your favourite cinema spree—so the money is literally popping into your wallet as you’re buying life’s essentials.
Things Worth Noticing (T&C Freshness)
- Updated Terms & Conditions: The Card’s fine print saw a refresh on Dec 9, 2020. Be sure to skim the current terms before you sign up; small changes can tip the scale.
- Family Balance: Some cards let you spread the cash back across family members; Citi’s lets you maximise more if you have a partner who racks up spend.
- Bonus Bunch: There’s a sweet bonus for first‑time spenders; it’s like a cash rebate “welcome” like a high‑five.
Does It Live Up to the Talk?
In theory, an 8 % rebate is a big win—almost double what serious competitors offer. In practice, it all comes down to how often you use the card on the categories that hit that rate. If you’re a heavy spender on everyday groceries and commuting, it can certainly be a game‑changer.
Bottom Line: Are You Going to Cash In?
Let’s be honest: “huat ah!” low‑level free cash… you can’t resist. The Citi Cash Back Card is a solid pick if your lifestyle fits the spending brackets it rewards. Just remember to keep an eye on the fine print and make sure your use‑case matches the card’s strengths. Ready to grab that extra 8 %?
Citibank Cash Back Card terms & conditions
Citi Cash Back Card
Annual fee & waiver
$192.60 (waived for one year)
Supplementary annual fee
$96.30 (waived for one year for first two supp cards)
Interest-free period
25 days
Annual interest rate
26.90 per cent
Late payment fee
$100
Minimum monthly repayment
One per cent or $50, whichever is higher
Foreign currency transaction fee
3.25 per cent
Cash advance transaction fee
Six per cent or $15, whichever is higher
Overlimit fee
$40
Minimum income
$30,000 (Singaporean) / $42,000 (non-Singaporean)
Card association
Mastercard
Wireless payment
Mastercard PayPass, Samsung Pay, Citi Pay
How the Citibank Cash Back Card works
The Citibank Cash Back Card is an everyday cashback card for the average Singaporean that covers most of our daily spending categories i.e. food and transport.
It gives you a very impressive eight per cent cashback on groceries and petrol and six per cent cashback on dining, which represents the bulk of a typical Singaporean family’s spending. Here’s a breakdown of the categories:
Spending category
Cashback
Groceries (all supermarkets, Redmart)
Eight per cent
Petrol (all stations, but bonus savings up to 20.88per cent at Esso & Shell)
Eight per cent
Dining (restaurants, cafes)
Six per cent
All other spendings
0.25 per cent
Citibank did a great job updating this credit card in Dec 2020. The main changes are:
Dining cashback was reduced from eight per cent to six per cent
Minimum spend reduced from $888 to $800
Cashback cap was $25 per category, but now $80 across all categories
Yes, they’ve lowered the dining cashback slightly, but it’s a fair trade-off in exchange for the lower minimum spend and more relaxed cashback cap.
No more split caps = no need to track your spending to the dollar anymore!
Who should use the Citibank Cash Back Card?
The Citi Cash Back Card appears to cover most of the essentials of Singaporean middle-class life.
It works great for anyone who:
Drives a car
Buys groceries
Dines out
The $800/month minimum spend might be a tad high, but it should be no problem if you’re the breadwinner of a family or a couple sharing their household expenses on one card.
For singles, this requirement may be a bit high unless you dine out a lot. Note that bars and nightspots do not count as dining.
However, note that recurring expenses like utilities are also not covered, nor are online purchases and offline shopping. You’ll probably need a backup credit card for those categories.
Citibank Cash Back Card promotions
If you’re new to Citibank cards, sign up through MoneySmart by Dec 13 to get $300 cash via PayNow upon your first swipe.
Plus, stand a chance to win an Apple Watch Series 6 or a Samsung Watch 3.
Citi Cash Back card for Deliveroo and Foodpanda
Save on your food delivery expenses as well from these two merchants. Valid until Nov 30, 2021.
Merchant
Customer
Promo code
Deal
Deliveroo
New
CITINEW21
$4 off first three orders with minimum spend of $20
Deliveroo
Existing
CITI8NOV
$8 off with a minimum spend of $40
Foodpanda
New
CITINC21
$8 off first order with a minimum spend of $15
Foodpanda
Existing
CITI21NOV
$6 off with a minimum spend of $30
Foodpanda
Existing
CITI21NOV10
$10 off with a minimum spend of $60
For more food delivery codes, bookmark our more comprehensive post.
Alternatives to the Citibank Cash Back Card
The Citibank Cash Back Card is one of the best credit cards on the market for steady, predictable household expenses. That said, it does have plenty of competition.
Here are some all-purpose credit cards that might also suit your lifestyle:
Despite a lower minimum spend of $600, the OCBC FRANK Card gives you the market-leading six per cent cashback on online spending and mobile payments.
Unfortunately this credit card suffers from the dreaded split cap of $25 per category, meaning you’ll need to track your expenses.
The UOB ONE Card doesn’t restrict your spending to specific categories, so it covers things like recurring bill payments. But you’ll need to spend consistently every month, or you might lose your whole quarter’s rebates.
If you’re mainly interested in cashback on dining, the UOB YOLO Card may be a better choice with eight per cent cashback on weekends for dining and entertainment.
It also gives you three per cent on online fashion, and the minimum spend and cashback caps are the same as the Citi Cash Back Card.
Still, if you happen to be a good fit for the Citibank Cash Back Card, it’s pretty damn impossible to find a better deal out there.
As a bonus, you’ll get up to $350 in cash if you’re new to Citi and sign up through MoneySmart by Nov 30, 2021:
ALSO READ: Best credit cards for buying groceries: Maybank Family & Friends Card vs Citi Cash Back vs CIMB Visa Signature Card
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