When we talk about no minimum spend cashback cards, the usual suspect will definitely pop up in your mind. And yes, that is the Standard Chartered Unlimited Card. Offering a paltry rate of 1.5% of cashback on almost all spend. Almost, that is.
Now if I were to breakdown the top 2 reasons as to why some of us would use these no minimum spend cashback cards, they would look something like this. And of course, here I’m assuming you hate collecting miles.
Your monthly expenditure on credit cards will not exceed $500 (which is usually the minimum spend in order to attain higher cashbacks) You have an upcoming huge lump sum expense (e.g. wedding, renovation) and the very fact that some of these cards like SC Unlimited Card/ Maybank FC Barcelona Card do not have a cashback cap.
At a high level overview, these are the 3 main cards...