GXS Credit Card Review 2026: The Highest Unlimited Cashback Credit Card in Singapore

GXS Bank launched the GXS Credit Card in August 2026, and the pitch is refreshingly plain: one flat rate on almost everything you buy, upsized instant cashback in GrabCoins on Grab (up to 10%), and no cashback cap to keep track of. GXS Bank positions it as the highest unlimited cashback credit card in Singapore for everyday spending, and as of 2026 it is one of the few cards here that pairs a flat everyday cashback rate of 1.75% with no earning ceiling at all.

Below is what you actually earn, what the S$500 minimum spend means in practice, how GrabCoins work, and how to optimize your spending profile to unlock maximum rewards. Every figure was checked against the official product page on 24 August 2026.

Produced in partnership with GXS Bank. GXS Bank is a digital bank owned by Grab and Singtel, and holds a banking licence regulated by the Monetary Authority of Singapore. Rates and terms are accurate as at 24 August 2026 and may change. T&Cs and disclaimers apply.

What this guide covers

1. GXS Credit Card at a glance

2. GXS Credit Card cashback rates in full

3. Up to 10% instant cashback in GrabCoins on Grab spends

4. 1.75% unlimited cashback on eligible local spends

5. Overseas spending: 10% instant cashback on Grab with no FX fees in Southeast Asia

6. 1.75% unlimited cashback on all Singtel bills

7. Fees, eligibility and the fine print

8. Who the GXS Credit Card suits, and who it does not

9. How to apply for the GXS Credit Card

10. GXS Credit Card FAQ

1. GXS Credit Card at a glance

The short version, before the detail:

• Up to 10% unlimited instant cashback in GrabCoins on eligible Grab spends. The rate is tiered by portion of spend: 3% from your very first Grab transaction with no minimum spend, then 5% on the portion of Grab spend from S$500 to S$999.99 and 10% on the portion above S$1,000, both of which also need at least S$500 in eligible off-Grab spend. There is no cashback cap on any tier.
• 1.75% unlimited cashback on eligible local spends, with no cashback cap. A minimum spend of S$500 per billing cycle on eligible non-Grab transactions is required.
• 10% unlimited instant cashback in GrabCoins on eligible Grab spends made overseas within Southeast Asia, with no minimum spend.
• No foreign transaction fees on overseas spends, with unlimited transactions.
• 1.75% unlimited cashback on all eligible Singtel bills, with no minimum spend and no cashback cap.
• Annual fee of S$196.20 a year, inclusive of 9% GST, waived for the first year for customers approved by 31 December 2026.

T&Cs and disclaimers apply. Cashback on Grab spends is provided in the form of GrabCoins.

2. GXS Credit Card cashback rates in full

Most cashback cards here ask you to remember a category list, a monthly cap and a bonus rate that resets. The GXS Credit Card structure is smaller than that: a flat everyday rate, a Singtel rate, and a tiered Grab rate paid in GrabCoins.

T&Cs and disclaimers apply. Cashback on Grab spending is credited instantly in GrabCoins after each eligible transaction. GrabCoins are part of Grab loyalty programme, have no cash value and cannot be exchanged for currency. Grab Wallet top-ups, GrabPay top-ups, PayLater and instalment payment plans do not earn rewards. Common exclusions also apply across cashback cards, including insurance premiums, government payments and education fees, so check the eligible spend list before you commit a big bill to any card.

GXS Credit Card vs Top Unlimited Cashback Cards in Singapore

Client-supplied comparison for review.

Comparison accurate as of 11 September 2026 and is for general information only. Rates and conditions subject to change — verify with each card issuer before applying. T&Cs apply to all cards.

3. Up to 10% instant cashback in GrabCoins on Grab spends

This is what makes the GXS Credit Card genuinely different, and why it is the best cashback credit card for Grab users right now. Rewards on eligible Grab transactions are credited instantly in GrabCoins after each transaction, rather than waiting for the statement cycle to close.

The tier depends on two numbers in the same billing cycle:

• 3% in GrabCoins is the base tier. It needs no minimum spend and no off-Grab spend requirement, so a single S$12 GrabFood order already earns.
• 5% in GrabCoins applies to the portion of eligible Grab spend from S$500 to S$999.99 in the cycle, provided you also charge at least S$500 in eligible off-Grab spend.
• 10% in GrabCoins applies to the portion of eligible Grab spend above S$1,000 in the cycle, again with at least S$500 in eligible off-Grab spend.

Eligible Grab transactions cover Grab rides, GrabFood, GrabMart, Grab Dine Out and GrabExpress. Wallet top-ups and PayLater are excluded, which matters if you habitually top up GrabPay instead of paying the card directly. For valuation, the GXS Bank cashback calculator uses 500 GrabCoins as roughly S$1.

T&Cs and disclaimers apply. Cashback will be provided in GrabCoins.

4. 1.75% unlimited cashback on eligible local spends

Everything else you buy locally earns 1.75% unlimited cashback on eligible local spends, with no cashback cap. That covers the ordinary run of a month: groceries, dining, transport, retail, online shopping, digital subscriptions and phone bills. No categories to select, no quarterly reset, no bonus tier to chase, which is what makes the GXS Credit Card one of the easiest cashback credit cards to use in Singapore.

The one condition to respect is the minimum. You need S$500 in eligible non-Grab spend in a billing cycle before the base cashback pays out, and eligible Singtel bills count towards that S$500. GXS Bank gives a worked example on its own site: spend S$600 in eligible off-Grab transactions and you earn S$10.50. Spend S$400 and you earn no base cashback for that cycle, although your Grab transactions still earn at the 3% base tier. GXS Bank has a useful explainer on what unlimited cashback actually means and why most cards fall short of it.

For most Singaporeans charging their regular expenses to one card, S$500 in eligible non-Grab spend is a threshold that clears naturally across groceries, transport, dining and bills. If your spending is consistently lighter than that, our best credit card for low spenders guide covers the alternatives.

T&Cs apply. Cashback on eligible spends, with min. S$500 spend.

5. Overseas spending: 10% instant cashback on Grab with no FX fees in Southeast Asia

All eligible Grab spends made overseas within Southeast Asia earn a flat 10% unlimited instant cashback in GrabCoins with no minimum spend, regardless of the tier you sit in at home. There are also zero foreign transaction fees on overseas spends, with no cap on transactions, so you avoid the usual foreign currency markup on top of the exchange rate.

Because Grab operates mainly across Southeast Asia, that rate is most useful on trips to Malaysia, Indonesia, Thailand, Vietnam and the Philippines, where a week of Grab rides and GrabFood adds up fast.

T&Cs and disclaimers apply. Cashback will be provided in GrabCoins.

6. 1.75% unlimited cashback on all Singtel bills

Singtel bills sit outside the minimum spend rule, but they still count towards it. You earn 1.75% unlimited cashback on eligible Singtel bills with no minimum spend and no cashback cap, and that same Singtel spend also counts towards the S$500 in eligible off-Grab spend needed to earn the 1.75% rate on everything else. So a household paying a Singtel mobile line and broadband on this card still earns in a quiet month where total card spend never reaches S$500.

GXS Credit Card holders also get a rotating set of Singtel sign-up perks, currently including 25% off selected GOMO 5G+ plans for six months, S$100 off a device with a selected new 24-month Singtel phone plan, and 12 months of CAST streaming with a new 24-month phone or broadband plan. These are Singtel promotions with their own terms and end dates, so check the current list first.

Weighing a plan change too? Our comparison of the best SIM-only plans in Singapore is a quick sanity check on whether the perk justifies the contract.

T&Cs and disclaimers apply.

7. Fees, eligibility and the fine print

The numbers that decide whether the card is worth holding beyond year one.

Stating it plainly: at 29% p.a., revolving a balance costs far more than any cashback rate returns, so a cashback card only works if you clear the statement in full. If year-two fees bother you, our guide on getting a credit card annual fee waiver covers how that conversation usually goes.

8. Who the GXS Credit Card suits, and who it does not

It fits well if

• You are a regular Grab user. Rides, GrabFood, GrabMart, Grab Dine Out and GrabExpress earn instantly in GrabCoins, and the top tier is reachable for households that order in and commute by Grab.
• You want the simplest cashback credit card to run. One rate, most categories, no cap, no quarterly category selection.
• You travel around Southeast Asia. 10% instant cashback in GrabCoins on overseas Grab spends within Southeast Asia plus zero foreign transaction fees is a strong pairing for regional trips.
• You pay Singtel bills. The 1.75% on Singtel spend has no minimum spend, and the same spend counts towards the S$500 off-Grab minimum that the everyday rate needs.

Look elsewhere if

• Your monthly card spend is under S$500. The everyday 1.75% rate needs that minimum in eligible non-Grab spend. That minimum can be met through everyday spending on groceries, transport, dining and bills within the billing cycle.
• You are chasing air miles. This is a cashback card, and miles strategies carry their own caps and merchant rules.

9. How to apply for the GXS Credit Card

Applications run through the GXS Bank app rather than a branch or web form. You will need to meet the income and pass requirements above, and approval is subject to document checks and a credit bureau check. Each applicant can hold either a GXS Credit Card or a GXS FlexiCard, not both.

From 25 Sept to 31 Oct 2026, enjoy S$108 off Grab rides, GrabFood, and GrabMart with GXS Credit Card if you sign up today on the GXS Bank app. Full details and the application link are on the GXS Credit Card product page.

T&Cs and disclaimers apply.

10. GXS Credit Card FAQ

The questions people ask most often about this card, answered directly.

The verdict

The GXS Credit Card lands in a clear position: it is built for people who would rather earn a decent flat rate on everything than squeeze a high rate out of two categories and hit a cap by week three. If you use Grab regularly and spend at least S$500 in eligible off-Grab transactions per billing cycle, it is one of the simplest ways to earn cashback in Singapore right now, and the first-year fee waiver makes it cheap to test.

If you are seeking a streamlined card offering 1.75% unlimited local cashback alongside up to 10% instant cashback in GrabCoins, the GXS Credit Card delivers a high-value daily-driver solution.

T&Cs and disclaimers apply on all GXS Credit Card cashback rates and benefits mentioned. GXS Bank is a digital bank owned by Grab and Singtel. Cashback on Grab spends is provided in GrabCoins. Information verified 24 August 2026 and subject to change. This is general information, not financial advice.

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