Big news for Trust Cashback Card holders! Effective 1 March 2026, Trust Bank will reduce the cashback rate on overseas and foreign-currency transactions from 1% to 0.5% and remove the S$1000 minimum monthly spend tier. Is it still worth it? Here’s a breakdown of the nerfs and buffs to help you decide.
What’s Changing from 1 March 2026
The Trust Cashback Card was widely used for its rare combo of 0% forex fees and cashback, making it popular among frequent travelers. This update mainly affects cardholders who use this card for travel or online foreign spending.
Feature | Until 28th February 2026 | From 1 March 2026 |
Foreign Spend Cashback | 1% cashback | 0.5% cashback |
Applies to preferred categories | Yes | Yes |
Applies to non-preferred categories | Yes | Yes |
Monthly spend tier (for 3 consecutive months) | S$500/month S$1,000/month S$2,000/month | S$500/month S$2,000/month |
Forex fees | 0% | 0% (unchanged) |
Local cashback | 1% | 1% (unchanged) |
Shopping category coverage | Limited MCCs | Expanded merchant coverage |
Nerfs:
Foreign Currency Transactions decreased to 0.5% Cashback
- Cashback on all foreign-currency transactions will be reduced from 1% to 0.5% starting 1 March 2026, applying to both preferred and non-preferred categories.
S$1,000 Spend Tier Removed
- The S$1,000 monthly spend tier will be removed, simplifying the structure but reducing the potential upside for mid-tier spenders.
- Preferred spending categories are still available
- Min. Monthly SpendCashback % on Preferred Category Spend every QuarterQuarterly Cashback CapS$5005%*S$30S$2,00015%*S$250
- *Note: Advertised cashback rates vary from actual earn rates.
Buffs:
Base Cashback Now Applies to Preferred Categories
Additional unlimited cashback can be earned on top of the quarterly cashback.
- 1% unlimited cashback on Local Eligible Spend in preferred category
- 0.5% unlimited cashback on Foreign Eligible Spend in preferred category
Additional cashback will be credited immediately after transactions are completed and posted.
Cashback may be earned with the following preferred categories: (This applies to online and offline spends)
CategoryDiningAll cafes, restaurants, fast foods, bakeries, caterers, food deliveries, and convenience stores in Singapore and abroad.ShoppingAll retail outlets, department stores, marketplace, fashion apparels, jewelry stores, watches and accessory in Singapore and abroad.TravelAll airlines, cruises, hotels, and travel agencies in Singapore and abroad.WellnessAll beauty shops, spa, pharmacies, fitness centres in Singapore and abroad.TransportAll taxis, ride-hailing vehicles, public transport, car-sharing, car-rental, tolls, EV charging, parking and petrol in Singapore and abroad.EntertainmentAll bars, movies, musical theatres, music stores, and streaming services in Singapore and abroad.
Expanded Merchant Coverage for Shopping Category
- The shopping category has been expanded to include more merchant types. Here is the full list of MCCs:
- CategoryMCCDescriptionDining5462Bakeries5499Miscellaneous Food Stores – Convenience Stores and Specialty Markets5811Caterers5812Eating Places and Restaurants5814Fast Food RestaurantsShopping4812*Telecommunication Equipment Including Telephone Sales5137*Men’s, Women’s and Children’s Uniforms and Commercial Clothing5262Marketplaces5309Duty Free Stores5310Discount Stores5311Department Stores5331Variety Stores5399Miscellaneous General Merchandise5611Men’s and Boys’ Clothing and Accessories Stores5631Women’s Accessory and Specialty Shops5641Children’s and Infants’ Wear Stores5651Family Clothing Stores5655Sports and Riding Apparel Stores5661Shoe Stores5681Furriers and Fur Shops5691Men’s and Women’s Clothing Stores5712*Equipment, Furniture and Home Furnishings Stores (except Appliances)5732*Electronics Sales5699Miscellaneous Apparel and Accessory Shops5940Bicycle Shops – Sales and Service5941Sporting Goods Stores5942*Book Stores5944Jewellery Stores, Watches, Clocks, and Silverware Stores5946Camera and Photographic Supply Stores5947Gift, Card, Novelty and Souvenir Shops5948Luggage and Leather Goods Stores5977^Cosmetic StoresTravel3000 – 3308Various Airlines3000 – 3308Various Hotels4411Steamship and Cruise Lines4511Airlines and Air Carriers (Not Elsewhere Classified)4582Airports, Flying Fields, and Airport Terminals4722Travel Agencies and Tour Operators4723Package Tour Operators – Germany Only5962Direct Marketing – Travel-Related Arrangement Services7011Lodging – Hotels, Motels, Resorts, Central Reservation Services (Not Elsewhere Classified)7012Timeshares7033Trailer Parks and CampgroundsWellness5912Drug Stores and Pharmacies5977^Cosmetic Stores5997Electric Razor Stores – Sales and Service7230Beauty and Barber Shops7297Massage Parlors7298Health and Beauty Spas7997Membership Clubs (Sports, Recreation, Athletic), Country Clubs, and Private Golf Courses8031Osteopaths8041Chiropractors8049Podiatrists and ChiropodistsTransport3351 – 3441Various Car Rentals4111Local and Suburban Commuter Passenger Transportation, Including Ferries4112Passenger Railways4121Taxicabs and Limousines4131Bus Lines4457Boat Rentals and Leasing4784Tolls and Bridge Fees4789Transportation Services (Not Elsewhere Classified)5521Car and Truck Dealers (Used Only) Sales, Service, Repairs, Parts, and Leasing5541Service Stations (with or without Ancillary Services)5542Automated Fuel Dispensers5552Electric Vehicle Charging5983Fuel Dealers – Fuel Oil, Wood, Coal, and Liquefied Petroleum7512Automobile Rental Agency7513Truck and Utility Trailer Rentals7519Motor Home and Recreational Vehicle Rentals7523Parking Lots, Parking Meters and GaragesEntertainment4899Cable, Satellite and Other Pay Television/Radio/Streaming Services5733Music Stores – Musical Instruments, Pianos, and Sheet Music5735Record Stores5813Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques5815Digital Goods Media – Books, Movies, Music5816Digital Goods – Games5945Hobby, Toy, and Game Shops7832Motion Picture Theatres7841DVD/Video Tape Rental Stores7922Ticket Agencies and Theatrical Producers (Except Motion Pictures)
*Additional MCCs
^Recategorized from Wellness Category to Shopping Category
Alternatives to Consider
For many users, the Trust Cashback Card shifts from being a “travel-friendly cashback card” to a general purpose local spending card. You might consider switching to Maribank Credit Card for your travel needs, which offers 1.5% cashback on up to S$1,500 spending.
Mari Credit Card
Use Code: 2OJA50ZV
Earn 1.5% Unlimited Shopee Coins with Mari Credit Card Instant Checkout and 1.5% Unlimited Cashback on eligible card spend
Final Thoughts:
Bottom line: The Trust Cashback card is no longer a standout for overseas spending. Frequent travelers and users who relied on its 0% forex fees plus cashback will see rewards effectively halved, shifting the card from a travel-friendly option to a no-frills local spending cashback card.
Cardholders should review their foreign currency spend and consider alternatives with higher overseas rewards, like Mari Credit Card. With changes taking effect on 1 March 2026, there’s still time to adjust your card strategy.
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