Best Credit Cards for Groceries

A visit to the grocery store comes with a heftier price tag these days. As increasing inflation may be expected in 2024, grocery prices have surged over the last year with double-digit price increases for grocery items including seafood, poultry, eggs, and flour.

However, there's a savvy solution to counter these significant price increases: selecting the appropriate credit card and employing it with certain strategies. Here are some useful tips and recommended credit cards for spending on groceries.

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Tips On Picking Credit Cards For Grocery Shopping

Cashback rewards

Seek out credit cards that feature appealing cashback incentives tailored specifically for grocery purchases. If you've checked out MoneySmart’s credit cards comparison tool, you'll be able to find out a variety of credit cards available in Singapore offering more than 10% cashback on eligible spending categories, more than 20% savings on groceries and food on selected merchants, and other bonus cashback rewards for transactions made at supermarkets.

Merchant partnerships

Certain credit cards establish partnerships with designated supermarket chains or offer augmented rewards for shopping at specific grocery outlets. It's prudent to consider cards that coincide with your preferred grocery stores to optimize rewards.

Promotional offers

Stay updated with credit card promotions extending bonus rewards, sign-up incentives, or temporary enhancements in cashback rates for grocery expenditures. These promotions can augment the value proposition when selecting a credit card. Some ways to keep up-to-date on such promotions is through email subscriptions to credit cards promotions and even access to credit cards’ concierge services (if you're an existing cardholder with specific banks).

Additional benefits

In addition to cashback rewards, take into account other aspects such as travel insurance coverage, dining privileges, or discounts on various everyday expenses. These supplementary benefits can significantly enhance the appeal of a particular card.

Online perks

For frequent online grocery shoppers, seek credit cards offering rewards or bonuses specifically for online purchases, or those with affiliations with online grocery platforms in Singapore.

Payment flexibility

Verify if the credit card offers flexible payment alternatives or installment plans tailored for substantial grocery purchases. This can facilitate effective management of expenses and cash flow.

Evaluate rewards structure

Initiate the assessment of potential credit cards by scrutinising their reward structures. Look for cards offering cashback, discounts, or reward points explicitly geared toward grocery spending. Assess the cashback percentage or reward earning rate for each dollar spent on groceries, prioritising cards that yield the highest return on such expenses.

Which Card Suits Your Grocery Spending Preferences?

Supermarket Credit Card Cashback (%) Additional Perks
NTUC FairPrice NTUC Link Credit Card by Trust Bank Up to 21% (first $350 spent outside FairPrice) 3% rebate on FairPrice online & in-store purchases
NTUC Fairprice, Cold Storage UOB One Card Up to 10% (capped at S$500/quarter) New UOB customers get up to 15% cashback
DBS yuu Card Up to 5% or more (with no minimum spend and no cap) 13% cashback when a min. of $600 is spent/month
Citi Cash Back Card Up to 8% (capped at $80/month) None
Giant HSBC Visa Platinum Card Up to 5% (capped at $250/quarter)An additional 1% HSBC Everyday+ Cashback if you have a HSBC Everyday Global Account
Citi SMRT CardUp to 5% (capped at $600/year)None
Sheng Siong BOC Sheng Siong CardUp to 6% (no min. spend) 1.5% unlimited cash rebate on your overseas spend
POSB Everyday CardUp to 5% (no min. spend, capped at $600/month)None
DCS Sheng Siong Card Up to 5% (no min. spend)None

Exclusive: Most Popular Credit Cards in Singapore

MoneySmart has helped over 3 million users find the best credit cards in the market. Curious to know what people searched for? Find out in this members-only report and get insights on which card you can apply for next! Plus, try out our personality quiz to find which card matches your taste!

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Frequently Asked Questions

How do I get the most cashback from my credit card?

Seek out credit cards that feature appealing cashback incentives tailored specifically for grocery purchases. You can tap on platforms such as MoneySmart’s credit cards comparison tool to find out a variety of credit cards available in Singapore that offer the best cashback, such as those up to 15% cashback, or up to 21% savings on groceries and food on selected merchants, and other bonus cashback rewards for transactions made at supermarkets.

What other benefits does a cashback credit card offer?

In addition to cashback rewards, many cashback credit cards provide other aspects such as travel insurance coverage, dining privileges, or discounts on various everyday expenses. These supplementary benefits can significantly enhance the appeal of a particular card.
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