Best for Bill Payments and Regular Food Purchases
POSB Everyday Card Review
Cashback
Sign-up Gift
Minimum Spent
Customers who sign up for a POSB Everyday Card can enjoy big POSB savings on Sheng Siong purchases and recurring bills with eligible payment service providers. On top of all this, the Everyday Card cash rebates are super-competitive and your card can double-up as an EZ Link pass, too. That said, POSB’s terms and conditions might not suit everyone’s spending habits and annual fees are waived for just one year, despite top competitors offering two-years fee-free.
POSB Everyday Credit Card Rewards
Key Features
- Get POSB Everyday Card cash rebates of up to 10% on dining and online shopping
- Enjoy further cash rebates of up to 3% on eligible bill payments for digital cable and telecoms services
- Use your Card POSB Everyday as both a credit card and EZ Link pass all in one card
- Earn an additional 0.40% p.a. with a DBS Multiplier Current Account
- Claim a bonus cash rebate of $200 using promo code “200CASH” when you apply
Cashback
- POSB pays base cashback rates of just 0.3%, but depending on spending habits, customers can get up to 3% on Watsons and digital cable and telecoms spend, as well as up to 5% at Sheng Siong.
Dining
- If dining and online shopping are a big part of your everyday spend, the Everyday Card POSB will be a great fit. You can get 1-for-1 on selected items at Rocky Master and Oishii, as well as money off regular priced items at RedMart, Goodwood Park Hotel and more.
Online Shopping
- Customers can take advantage of Everyday Card POSB cash rebates of up to 5% with Amazon, Lazada and other eligible retailers. You’ll also get cash rebates of up to 3% with Watsons and special online shopping promotions whenever you spend more than $800 in a single calendar month.
Shopping
- Customers who apply for a POSB Everyday Card can claim up to $200 cashback on shopping trips to VivoCity, as well as an up to $100 bonus cash rebate on ShopBack GO!
Petrol
- POSB Everyday Card holders can also reel in fuel savings of up to 20.1% at SPC, on top of additional cash rebates of 2%.
Grocery
- One of the biggest draws of the Card POSB Everyday is up to 5% cash rebates when you spend in-store at Sheng Siong. You can also get a cash rebate of up to 3% on regular priced items at Pet Lovers Centre and a further 5% cash rebate on grocery purchases at RedMart. That said, there is a maximum spend of $800 per calendar month affecting certain types of purchases.
Bill Payments
- If you make regular bill payments for everyday expenses with Keppel Electric, Senoko Energy or iSwitch, you can get a cash rebate of 2% with no minimum spend required. Any recurring bills or electricity bills with SP Group, Geneco, Singtel, Starhub, M1 and many more also qualify for a 3% cash rebate. You can discover more details on the POSB website here.
Pros & Cons
Pros
- Earn big POSB Everyday Card cash rebates by spending at selected “unlimited cash rebate” merchants
- No minimum spend requirements with selected payment service providers like Watsons, Amazon and SPC
- A good option for everyday expenses and bill payments, with 2% cash rebates on most utilities
- Excellent for customers who spend frequently on dining and online shopping, or online food delivery
- Get up to 20.1% + 2% fuel savings at SPC
Cons
- Other spend types that exclude dining, online food deliveries etc won’t attract the best cashback rates
- Minimum spend requirements monthly on certain purchases won’t suit everyone
- Competitors’ financial products have lower income requirements for foreigners
- Other cashback credit cards offer more flexibility and vendor options with fuel savings
- Might not be a good fit if you don’t shop at Sheng Siong or pay recurring bills
How to Apply
Age Requirement
21 years old and above
Minimum Annual Income
Singapore and Permanent Residents
S$30,000
Foreigners
S$45,000
Fees and Charges
| Annual Fee | S$192.60 |
| Fee Waiver | Waive for First Year |
| Annual Interest Rate | 26.8% p.a. |
| Late Payment Fee | S$100 |
| Cash Advance Fee | $15 or 8%, whichever is highest |
| Minimum Monthly Spend / Monthly Payment: | $50 or 3%, whichever is highest |
| Foreign Currency Transaction Fee | 3.25% |
Income Documents
You will need to provide supporting documents as proof of income. In most cases, POSB will grant you a credit limit for all unsecured facilities capped at four times your monthly income.
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Does the POSB Everyday Card Compare with Other Credit Cards in Singapore?
Time to review how the POSB Everyday Card compares to other top-ranking credit cards available on the market today:
Minimum Income | Interest | Cashback Rates | Minimum Spend | Rewards | |
POSB Everyday Card | $30,000 (Singaporean) $45,000 (Foreigner) | 26.80% p.a. | Up to 10% on dining and online shopping with selected vendors Up to 3% on eligible one-off and recurring bills with certain providers | There may be minimum spend requirements and maximum spend limits on certain purchases per calendar month to qualify for the best cashback rates | Get an additional cash rebate of $200 upon registering with promo code “200CASH” Earn 0.40% p.a. or more with a DBS Multiplier Current Account, if you open one alongside your card account Up to 20.1% + 2% fuel savings at SPC |
$30,000 (Singaporean) $42,000 (Foreigner) | 26.90% p.a. | +4.7% bonus rate available with qualifying monthly spend Base rate on cash rebate is 0.3% Customers who exceed the monthly spend limit will earn 0.3% + 4.7% = 5% overall | $500 low minimum spend limit to qualify for +4.7% rebate rate | All customers earn up to 5% SMRT$ on online shopping, buying groceries online and in-store and private hire rides Use your Citi SMRT Card as an EZ Link card for EZ Link auto top up and EZ reload on public transport | |
$30,000 (Singaporean) $45,000 (Foreigner) | 26.88% p.a. | Cash rebates and discounts at FairPrice Unity and Warehouse stores Fuel savings, bonus Linkpoints and more | $500 monthly spend outside of FairPrice (or $400 monthly outside of FairPrice for OCBC NTUC union member customers) | Up to 7% off in store purchases at FairPrice Up to 3% off FairPrice online purchases Amazing fuel savings of up to 20.3% Save money on Telco bills and other essentials Increased percentages for customers with NTUC membership | |
DBS Takashimaya Visa / American Express Card | $30,000 (Singaporean) $45,000 (Foreigner) | 26.80% p.a. | $30 worth of Takashimaya gift vouchers earned with every 100 Takashimaya bonus points Even greater perks available to Takashimaya Amex card members | $300 | Up to 300 Takashimaya bonus points per transaction for DBS Takashimaya Amex card members Redeemable Takashimaya rebates and gift vouchers for all customers |
$30,000 (Singaporean) $60,000 (Foreigner) | 26.90% p.a. | Up to 1.5% Unlimited cap | N/A | 2 year fee waiver Up to 22.61% fuel savings at Caltex | |
$30,000 (Singaporean) $60,000 (Foreigner) | 26.80% | Up to 5% available both online and via contactless payments | $600 min spend per month | 1 year fee waiver 0.3% earned on all other types of spending |
POSB Everyday Credit Card – Our Verdict
Signing up for an Everyday Card POSB will earn you a number of key benefits. Top calling cards include amazing cashback rates on eligible purchases with approved vendors, up to 20.1% + 2% fuel savings at SPC and the ability to use your credit card as an EZ link pass. That said, the POSB savings on offer might suit budget-conscious bill payers and everyday spenders more than customers who like to make big-ticket purchases.
FAQ About the POSB Everyday Card
How long do I get interest-free on purchases?
You will get 25 days interest-free.
When will the promotional free membership period expire? What is the fee I will have to pay after the expiry period?
You get a one year waiver for your first annual fee. After this, an annual fee of $192.60 applies.
What is the minimum amount I must pay each month?
There is a minimum monthly repayment limit of $50 or 3.00%, whichever is highest.
If I do not make the minimum payment for one month, what are the interest and other charges I will have to pay?
It’s important to fully understand the terms and conditions governing the POSB Everyday Card, which can be read in full here. Generally, you will need to pay a prevailing interest rate of 26.80% p.a. on top of a $100 late payment penalty if you miss a payment and your outstanding balance exceeds $200.
POSB Everyday Card – Final Thoughts
So, the POSB Everyday Card offers some well-rounded cash rebates, a first year annual fee waiver and tons of perks for people who spend regularly on food and eating out – but is it the right fit for you? Think carefully about the following before you sign up:
1. Dining promotions require a minimum spend per calendar month
To take full advantage of those 3% cash rebates on restaurants, bars, lounges and more, there is a minimum spend required of $800 per calendar month.
2. You’ll need to be tech-savvy to set up auto top ups
To set up your POSB Everyday Card as an EZ Link pass with auto top ups, you’ll need to use the POSB or DBS Lifestyle app and follow the appropriate set-up steps first. This might not suit those who aren’t good with tech.
3. The annual fee waiver lasts one year only
While a one year waiver on membership fees is great, some competitor cashback credit cards offer waivers of two years or more, so always compare the market first.
For more details and in-depth reviews of the best credit cards in Singapore, check out Loan Advisor’s blog page. If you’re looking to compare credit cards or search for personal loans, current account options and other amazing financial products, Loan Advisor is here to help.
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