CIMB is one of the smaller banks we have featured, don’t’ let the size fool you. CIMB’s credit cards represent some of the most value-oriented products in Singapore, and they don’t pull punches in terms of rewards. Some many cards have extremely high annual fees or minimum monthly spend requirement that make them costly and complicated to use. However, CIMB offers a number of cards that have neither annual fee nor complications, making them the cheapest credit cards to use in SIngapore. Here, we drill down on what makes CIMB’s credit cards brilliant and whom may find them appropriate for their circumstances.
Table of Contents
- Our Top CIMB Cards
- Similar Cards From Other Banks
Our Picks For the Best of CIMB Cards in 2017
Our primary objective is to make the best recommendation for each consumers in the most analytical method possible. To that extent, we have reviewed each card from CIMB in detail below. Since each card has its own unique set of strengths and weaknesses, you should read to learn what makes each special and which one could be an ideal choice for what you need.
CIMB Visa Signature Card: Highest Cashback on Dining
CIMB Visa Signature Card is a free card that can help you reduce your dining bills by 10%. With no annual fee or monthly minimum spend, this card could be an excellent card to have in your wallet all the time because it takes zero effort to use it. Given this, it's not surprising that CIMB VIsa Signature only provides 0.2% cashback on general purchases. However, what is surprising is that CIMB Visa Signature card has the highest rebate on dining expenditures of 10%. It could also be used as a travel card since its low foreign transaction fee is only 1% compared to 2% offered by other banks, while the card also comes with a complimentary travel insurance. Since this card comes with no annual fee and the lowest foreign transaction fee, it's probably the cheapest credit card in Singapore you can get.
The only caveat to this card is that its 10% rebate on dining is capped at S$60 a month and requires a monthly spend of S$500 and 8 monthly transactions worth S$30 each. However, this should not be a major problem for most people who go out for dinners and drinks once or twice a week.
Pros of CIMB Visa Signature Card
- No annual fee
- 10% cashback on dining
- 1% foreign exchange transaction fee
- Promotions: Up to S$150 bonus cash credit when you spend S$300 per month for 6 months
Cons of CIMB Visa Signature Card
- 0.2% cash rebate on everything else
- 10% cashback on dining is capped at S$60 per month & requires a monthly spend of S$500 and 8 monthly transactions worth S$30 each
CIMB Platinum MasterCard Credit Card: 10% rebate on travel, health and beauty
CIMB Platinum Mastercard Credit Card is basically a carbon copy of CIMB Visa Signature card, except that the 10% rebate is not on dining, but on travel, health, beauty and wellness. Just like CIMB Visa Signature, this card does not have fee or monthly minimum spend. We would recommend choosing a card based on which category comprises bigger expenditure for you.
CIMB Visa Infinite Card: No-fee flat rate card
CIMB Visa Infinite Card is a no-fee flat rate cashback card rewarding 1% cashback on all local expenses, and 2% cashback on all overseas expenses. Other aspects are quite similar to CIMB Visa Signature card. This card can also function as a travel card since because of its low foreign transaction fee and access to Visa privileges that qualifies you for various discounts at stores.
CIMB World MasterCard Credit Card
CIMB World MasterCard Credit Card is our least favorite of the CIMB offerings we have reviewed. Simply put, it is a worse version of CIMB Visa Infinite Card. CIMB World MasterCard offers 1% cashback on all local and overseas spend, worse than CIMB Visa Infinite’s 1% cashback on local spend and 2% cashback on overseas. If you want a no-fee, no-frills flat fee card, CIMB Visa Infinite would be a better choice.
Summary of Best CIMB Credit Cards
In case you want a quick look at our picks, here are ValuePenguin's best CIMB credit cards.
|Best CIMB Cards||Summary||Annual Fee|
|CIMB Visa Signature||Highest Cash Rebate on Dining||S$0.0|
|CIMB Platinum Mastercard||10% rebate on travel, health and beauty||S$0.0|
|CIMB Visa Infinite Card||1% cashback in SG, 2% overseas||S$0.0|
|CIMB World Mastercard||1% cashback||S$0.0|
Similar cards from other banks to consider
Below, we have evaluated pros and cons of each card in relation to its competitors from other banks. We also show how much one can earn or save by using a certain card over a 2-year period. By adding up the cashback, mile awards and promotions that you can earn with each card, we can give you an idea of which CIMB credit card is the best for your circumstances. Do note, however, that your choice depends heavily on your individual spending habits and reward preferences, so you should make sure to read our credit card reviews that we've prepared.
CIMB Visa Signature vs Citi Cashback Card
While CIMB Visa Signature emphasizes rewards on dining, Citi Cashback card emphasizes both dining and groceries so you can save money on all of your meals regardless of where you eat. While the annual fee of S$192.6 is on the higher end for cashback cards, Citi Cashback Card offers market-leading rate of 8% cashback on the aforementioned two expenditure areas. Not only that, to offset the high annual fee, Citi waives the 1st year’s annual fee and provides a S$120 of cash rebate over 6 months as long as you spend S$200 or more on the card every month. These benefits reduces the annual fee to only S$70 over a 2 year period.
CIMB Visa signature vs UOB Delight
If grocery is much more important to you than dining out, UOB Delight might be the better option to earn cashback. UOB Delight provides 8% rebate at various retailers like Cold Storage, Giant and Guardian, matching Citi Cashback though with some limitations on locations. Where UOB Delight really outshines its peers is the additional 10% discount on house brands at the aforementioned supermarkets. UOB Delight also comes with other rebates like 3% off monthly telco bills and contactless transactions like public bus rides. Hence, UOB Delight is the best grocery rewards cards in the market that can also help you save on the transportation back and forth from supermarkets.
*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.