This article was written in collaboration with Cheryll Cheah from Cardable. Find out more at the end of the article.
If you are a small business owner with long term plans to expand your business, the right business credit card definitely helps to keep you focused on your hustle! You might be surprised that choosing a suitable business card might be tougher than you’d expect, so it’s great to do your research beforehand.
Here’s a list of 6 best Business Cashback Credit Cards in Singapore so you can get the best cashback and privileges for your business. Some tips and tricks on how to choose the ideal card for your business is also included. No matter what type of business owner you are, we’ve got you covered!
1. Aspire Corporate Card
Perks & Rewards
Best for Business Owners with High Marketing Budget
Up to 1% cashback on selected online marketing & SaaS transactions with a minimum spend of S$5,000 and above.
Qualified online marketing & software merchants such as Facebook, Google, LinkedIn advertising, Slack, Hubspot, MailChimp and more!
0.40% foreign currency transaction fee. Lowest FX rates.
Annual Fee: No annual fees. This is a debit card.
If your company relies on tech software and has a big marketing budget, the Aspire Corporate Card may be for you. It is a debit card with a very attractive up to 1% cashback on online marketing expenses and selected software (SaaS) subscription services. These are typically very basic needs for your company such as Facebook or Instagram advertising, and communication software such as MailChimp, HubSpot and Slack. There’s a whole list of software where you’ll be eligible for the 1% cashback, so definitely check them out here. Note that the 1% cashback is only applicable if your expenses are above S$5,000.
It also offers a low foreign transaction fee at only 0.40% without any hidden fees! This will definitely put your mind at peace when swiping your cards on foreign deals for your business. On top of all that, this is a debit card with no annual fee, so you will be able to enjoy these perks very transparently without worrying about extra costs.
2. DBS Visa Platinum Business Card
Perks & Rewards
Best for Business Owners who Love Cashback
0.4% cashback on general spend
Earn 1 DBS point for every S$5 charged. More info here.
Earn rewards for recurring bill payments
Complimentary travel accident insurance, up to S$1mil per cardholder
Complimentary annual coverage of employee misuse, up to US$25,000
Annual Fee: S$192.60, 1-year waiver
Bit by bit, cashback savings will certainly help your business save in the long run! With DBS Visa Platinum Business Card, you’ll get 0.40% cashback on any general spend. It offers one of the highest cashback rates amongst all business cards. To boost your savings, you’ll also get a welcome bonus to earn up to 5% rebate if you spend S$2,000 in your first month.
Apart from that, you’ll also get benefits such as complimentary travel accident insurance and complimentary annual coverage of employee misuse. This card is perfect for small businesses who want to maximise their cash savings without paying a higher fee for extra travel perks and privileges.
3. Maybank Business Platinum MasterCard
Perks & Rewards
Best for Business Owners who enjoys Perks and Privileges
Earn TREATS Points for every dollar spent, redeem air miles, vouchers ,cash credits and more. More info here.
Enjoy up to 51 days of interest-free credit on purchases
Flexible credit limits based on company’s profitability
Complimentary travel accident insurance, up to S$1mil for cardholder and family
Annual Fee: S$180, 2-year waiver
The Maybank Business Platinum MasterCard is an affordable SME credit card that offers a wide variety of perks and privileges. For every S$1 spent, you’ll earn 1 TREAT point, which is equivalent to a 0.4% cashback. Additional perks include dining privileges, flexible credit limits, rewards for automatic bill payments and extended interest-free crediting.
Apart from all those local benefits, there are also travel benefits to this card. Business travellers will get to enjoy global concierge services, free travel insurance and complimentary lounge access whenever you are traveling for your business. Do remember that business credit cards should be used only for business expenses, so always split up your personal spendings with another card. This card has pretty much the best of both worlds, so it is recommended for business owners that may need to conduct business overseas.
4. UOB Platinum Business Card
Perks & Rewards
Best for Business Owners who prefer Vendor Discounts
0.3% cash rebate or UNI$1 for every S$5 charged on monthly purchases.
Enjoy more cash rebates with Mastercard Easy Savings on your business expenses from participating merchants. More details here.
UOB SMART$ Rebate & UOB Dining Privileges & UOB Commercial Privileges Programme
Complimentary travel accident insurance, up to S$1mil for cardholder
Annual Fee: S$180
The UOB Platinum Business Card has partnered up with various business partners to offer you discounts from various suppliers. Some of them are JustCo coworking space, where you can get 50% off on your first month of rental, Dell, where you can get 5% off laptops, monitors, software, and Nespresso, for all your coffee needs to fuel your day! These perks are definitely unique to UOB, and we could foresee small businesses needing these exclusive offers for the office! For the full list of offers, check them out here.
Furthermore, you’ll also be able to enjoy more savings with the MasterCard Easy Savings programme, where you’ll get up to 5% rebates on selected business services such as Microsoft, Apple, Logitech & more! The annual fee is only S$180 per year, which is really competitive and worth it for all the discounts you’ll get. What you can do is definitely list down all your expenses for the company and see if these vendors from the UOB Commercial Privileges and MasterCard Easy Savings fit your bill. If the answer is yes, definitely sign up for your card right away!
5. American Express Singapore Airlines Business Card
Perks & Rewards
Best for Business Owners who are Frequent Travellers
Earn up to 8.5 HighFlyer points per S$1 spent on eligible Singapore Airlines Group flights (worth 8.5% cashback)
Earn 1.8 HighFlyer points per S$1 spent on all other eligible purchases (worth 1.8% cashback). More info here.
Accelerated KrisFlyer Elite Gold status, with spending of S$15,000 with Singapore Airlines Group within the first year
Annual complimentary night’s stay and up to 50% dining discounts with Accor Plus across Asia-Pacific.
Enjoy more offers with American Express Selects and car rentals with Hertz Gold status.
Annual Fee: S$299, 1st year waived
Here’s a card for your business if you are a frequent traveller, and especially if you travel via Singapore Airlines or SilkAir. This card offers high cash back in the form of HighFlyer points at 8.5 points for every dollar spent on Singapore Airlines Group flights. These points can then be redeemed for tickets on SIA, SilkAir, Scoot and more so that’s how you maximise your expenses on business travel!
On top of that, the AMEX SIA Business Card also offers various luxury travel perks to help smoothen your travel journey. We all know how tiring traveling can be, so cardholders enjoy 2 free lounge visits per year, complimentary travel insurance, complimentary Accor Plus Membership and also Hertz rental car privileges for all your traveling needs. There is a catch to all these travel perks, which is the high annual fee at S$299. You do get the first year’s annual fee waived though. However, we don’t think you should automatically disqualify this card due to its high annual fee, because this card comes with lots of benefits and savings for business travelers. It may be worth doing your math to really deep dive into whether the savings are worth the annual fee.
For the frequent travellers, you might want to check out the best new personal credit cards that get you a FREE LUGGAGE that could see you through all your business trips and more – Take a look here!
6. Standard Chartered Business Platinum Card
Perks & Rewards
Best for Business Owners who are just Starting Out
0.3% cashback for general spend
Earn 1 point for every S$1 charged to your card to redeem rewards. More info here.
0% interest instalment plan
24-hour Visa Platinum Concierge service & Live The Good Life privileges.
Annual Fee: S$160.50, 3-year waiver
All businesses that are just starting out will probably have to fork out a large sum of money for various expenses such as new equipment and new office needs. The Standard Chartered Business Platinum Card offers a 0% interest instalment plan to help you ride through the large purchases and lets you settle your bills over an extended period of time. This would really help most businesses to manage their finances and plan ahead!
On top of that, you’ll also get 0.3% cashback for any general expenditure and SMART$ for your daily necessities such as dining, groceries, insurance and petrol, so it is definitely a fuss-free cashback card where you won’t have to worry about choosing which card to use. With its low annual fee of S$160.50 plus a 3-year waiver, this card is a great match for smaller businesses that are just starting up.
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