POSB Everyday Card is a very popular card in Singapore, and it’s not too hard to see why. In our opinion, this is one of the top cashback cards available in the country because its rebate program covers a wide range of expenditure categories. Its cash rebate covers groceries, petrol and dining so that you save money on a daily basis. In addition, its 3% rebate on health & beauty at Watsons and another 1% on utility make it perfect for mothers and families. Especially if you are already a POSB banking customer and are looking for a way to combine your cashback card, ATM card and SMRT card into one, we would recommend you consider the POSB Everyday Card.
Pros of POSB Everyday Card
- Up to 20.1% discount on petrol at SPC
- 5% rebate on groceries at Sheng Siong
- Dining Rebate: 3% weekdays, 9% weekends and 14% online food delivery (until 30 Sept 2017)
- 3% cash rebate on Health, Beauty and Personal Care at Watsons
- Up to 1% rebate on monthly telco, SP services, cable TV and broadband bill (capped at S$1 per month)
- EZ-Link Auto Top Up
- Can be used as an ATM card for POSB banking customers
- Promotion: 5% cash rebate on overseas spend (S$1,000 minimum overseas spend) + 14% dining spend in foreign currencies
- Bonus: A free return trip to Krabi (in the form of 13,000 AirAsia BIG Points) with a min. spend of S$500 within the first month from card approval date.
Cons of POSB Everyday Card
- 0.3% rebate on everything not listed above
- S$700 monthly spend minimum
- Dining rebate, which is central to its value, may not be ever green
What makes POSB Everyday Card Stand Out
POSB Everyday Card's mix of cash rebate awards is quite unique. By focusing on food and transportation, it aims to satisfy everyone’s desire to save on her daily necessities. First, POSB Everyday Card is quite comprehensive with its perks. Its petrol discount is definitely among the highest we’ve seen in the market at 20.1% at SPC. Not only that, you can save another 5% on your groceries at Sheng Siong by paying with POSB Everyday Card. While 5% isn’t as high as what you get on other cards like Citi Cashback Card (8% on all groceries anywhere) or Citi SMRT Platinum Visa Card (7% at Sheng Siong), it also comes with an amazing dining rebate option: you can earn 3% on weekday dining, 9% on weekend and 14% on online food deliveries. POSB Everyday Card also provides 1% rebate on on your utility & telecom bills and 3% rebate at Watsons.
We think POSB Everyday Card is a great because it provides rich benefits and has a relatively high a cap on total cashback. Other cards generally have a cashback cap ranging from S$50 to S$80 a month in some shape or form. That limits your annual cashback to S$600 to S$1,000 for most cards. However, POSB Everyday Card has a S$50 of monthly cap on cash rebate for each of its 3 main rebate categories: dining, groceries and overseas expenditure. Its 3% cash back and 0.3% rebate on everything else is not capped.
Having covered all these different categories with market leading rates, POSB Everyday Card is definitely one of the best cashback cards you can get in Singapore as long as you don’t mind limiting your food and petrol purchase to specific stores. While S$700 monthly minimum spend is on the higher end, we don’t think this creates a huge problem given that POSB Everyday Card covers so many areas in a person’s life. Lastly, POSB Everyday Card can also double up as an EZ-Link card and an ATM card, adding some additional benefit of convenience.
POSB Everyday Card's Features and Benefits:
- Annual fee: S$192.6, waived for 1st year
- Salary requirement: S$30,000 for locals, S$45,000 for foreigners
- 5% rebate on groceries at Sheng Siong
- Up to 20.1% discount on petrol at SPC
- Dining Rebate: 3% on weekdays, 9% on weekends and 14% on online food delivery
- 3% cash rebate at Watsons
- 1% cash rebate on recurring utility bills from SP Services, Starhub, internet and cable (max of S$1 per month)
- 0.3% cashback on everything else
- EZ-Link Auto Top-Up
- Doubles up as an ATM card if you have a banking account with POSB
- No cap on cashback
- S$700 monthly minimum spend
How Does the POSB Everyday Card Compare with Other Cards?
Learn how POSB Everyday card differs from other cards in the market. We weigh this card's pros and cons against those of comparable cards to help you select the most ideal card for your needs.
POSB Everyday vs Citibank SMRT
Citi SMRT card is another credit card that doubles up as an EZ-Link card to be used for daily commutes. Its annual fee is waived for 2 years, making Citi SMRT actually cheaper to use than POSB Everyday card over a 2-3 year period. We think Citi SMRT is ideal for mass transit commuters who enjoy a cup or two of coffee every day and shop grocery on their way home. It earns up to 7% rebate on groceries above S$50, higher than POSB Everyday’s 5%. Citi SMRT also provides up to 15% rebate on coffee at various café chains like Starbucks, an unique offering in the market. Citi SMRT also offers a 2% rebate on EZ-Link Auto Top-Ups in increments of S$30, a feature that POSB Everyday Card lacks. Minimum monthly spend is lower than POSB Everyday at S$600, but SMRT$ rebate it offers is also capped at S$40 a month (S$280 annually) vs unlimited cap for POSB Everyday.
These characteristics make Citi SMRT ideal for individuals, especially young professionals, who have a budget to meet every month. What better ways to optimize your dollars than to utilize MRT rather than cabs, and cook at home rather than dining out? As long as you spend most of your money on your monthly MRT pass, coffee and grocery shopping, we think Citi SMRT is an ideal candidate to be added to your wallet.
POSB Everyday vs OCBC 365
OCBC 365 Card is a very comprehensive cashback card covering groceries, mass transit, monthly recurring bills, dining and petrol. OCBC 365 is also the cheaper card to use given that it’ll waiver its annual fee as long as you spend at least S$10,000 on it annually, and only requires S$600 of monthly minimum spend to receive its full benefits. If you are looking for a cashback card that is more comprehensive in terms of categories of rebates and you don’t care too much about having a separate EZ-Link card, OCBC 365 could be a more suitable card for you. For instance, OCBC 365 has a 3% rebate on monthly recurring utility bills and all online expenditures including shopping and travel bookings, two areas in which POSB Everyday is considerably weak. However, POSB Everyday does provide better rebates on food, so it could better accommodate people whose budgets are centered around food.
POSB Everyday vs UOB Delight
UOB Delight Card is a very similar card to OCBC 365 in that it has a well-rounded rebate program covering groceries, mass transit, and monthly recurring bills. However, its cashback program is highly skewed towards maximizing rebate on groceries. If you don’t mind purchasing house brands at Cold Storage, Giant and Guardian, UOB Delight can help you save up to 18% on your grocery purchase, by far the highest in the market. It is also quite cheap to use with only S$85.6 of annual fee. However, it may be difficult for one person to meet the S$800 of monthly minimum spend to be eligible for UOB Delight’s full benefits.
Therefore, we think this card is more suitable for families who prefer to dine in rather than out. To summarize the key difference between the two cards, POSB Everyday card is more comprehensive in coverage but less rewarding in groceries than UOB Delight. Therefore, POSB Everyday may be more suitable for families who want to consolidate their cashback into one card but still maximize rebate on their major expenditure categories. For families who have a strong preference for cooking at home, UOB Delight might be a more suitable choice.
POSB Everyday vs Citibank Cashback
Citi Cashback Credit Card is a great card for maximizing discounts on food. Its combination of 8% discount on all dining and groceries is the highest we’ve seen in Singapore. While POSB Everyday has a more comprehensive list of benefits, we think Citi Cashback could be a better choice for people whose expenses are centered around eating well, both in and out of home.
POSB Everyday vs UOB One
UOB One Card is another one of the best rewards cards in Singapore, and we think it an ideal choice for anyone willing to jump through some hoops to maximize cashback. UOB One offers a simple but rich rebate of up to 5% on every expense they make. Since it’s a flat rate reward, UOB One makes more sense than UOB Delight for people who have a sizable and diversified expense basket outside of groceries. The only caveat, however, is that UOB is one is rather complicated to use. To earn the 5%, you need to spend almost exactly S$2,000 a month. For expense of S$500 or S$1,000 a month, you can earn about 3.33% of rebate.
Given this, we think UOB One is suitable for people who have high visibility on their monthly expenses and can optimize their balance on the card at exactly S$2,000 a month. This would most likely include families with large fixed budgets on food, groceries and utilities. However, if you are looking for a simple way of combining a commute card and a way to earn high rewards on your major expenditure categories, POSB Everyday is still the better way to go.
POSB Everyday vs DBS Live Fresh
We are not a huge fan of DBS Live Fresh card. It provides 5% cashback on all your online and Visa payWave purchases. As far as we have seen, that’s just about the extent of its benefits. We think POSB Everyday Card is a much better card for a versatile cashback card that can be also used for EZ-Link. If you are looking for an online shopping cashback card, we think you can find a better option with Standard Chartered SingPost Platinum Visa card or OCBC Frank Card.
*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.