GXS Bank Introduces Uncapped Cashback Credit Card Targeting Daily Grab and Singtel Users

New card offers up to 10% rebate in GrabCoins alongside a 1.75% flat rate on local retail and utility spending

SINGAPORE – Digital lender GXS Bank, the joint venture backed by Grab Holdings and Singtel, has launched the GXS Credit Card, offering an uncapped cashback structure tailored for high-frequency users of the ride-hailing, food delivery, and telecommunications ecosystem.

The card, introduced in August 2026, provides up to 10 per cent instant cashback in GrabCoins on Grab transactions, coupled with an unlimited 1.75 per cent cashback rate on eligible local non-Grab spending and Singtel utility bills.

Under the card's rewards framework, cardholders earn a baseline 3 per cent cashback in GrabCoins on all Grab app services—including transport, GrabFood, GrabMart, GrabExpress, and Grab Dine Out—with no minimum spend threshold.

Users can unlock higher Grab rebates by meeting tiered monthly targets:

• 5 per cent in GrabCoins: Requires spending between S$500 and S$1,000 on the Grab app, alongside a minimum of S$500 in non-Grab retail transactions within a billing cycle.
  
  
• 10 per cent in GrabCoins: Requires over S$1,000 in Grab spending, combined with at least S$500 in non-Grab retail purchases.
  
  

For overseas Grab transactions across Southeast Asia, cardholders earn a flat 10 per cent cashback in GrabCoins with no foreign exchange fees or minimum expenditure requirements. GrabCoins are redeemable within the superapp ecosystem to offset rides, food orders, and in-store GrabPay merchant payments at an approximate valuation of 500 GrabCoins to S$1, in addition to promotional redemptions during monthly sales.

Beyond the Grab ecosystem, Singtel bills—including mobile subscriptions, home broadband, and CAST streaming packages—earn a 1.75 per cent flat cashback rate with no minimum spend or earnings cap. General local retail transactions also qualify for the uncapped 1.75 per cent cashback rate once cardholders cross a S$500 monthly spending threshold.

Eligibility criteria require applicants to be between 21 and 65 years old. Singaporeans and permanent residents must meet an annual income requirement of S$30,000, while eligible foreign work pass holders must earn at least S$60,000 annually.

The annual fee is set at S$196.20 inclusive of GST, with waivers applied for the first year on accounts approved before Dec. 31, 2026. GXS Bank is also running an introductory promotion through Oct. 31 offering up to S$108 in discounts across Grab transport, dining, and grocery orders for eligible new cardholders.