UOB Absolute Cashback Card

[lindseymin]

yes. mentally forcing yourself to spend more >_<

Ya. that's why it's unsustainable.

That's why this UOB Absolute card gives a breadth of fresh air as it counts digital wallet top-ups as eligible.

However, we cannot withdraw $ topped-up using credit card. According to this article, one can transfer Grab Wallet to other wallets. (https://thefipharmacist.com/can-i-w...y Wallet in Singapore,or a foreign debit card.)

1. Singtel Dash
2. Razer Pay
3. Liquid Pay
4. TransferWise
5. MatchMove

With Grab recently allowing $ (from debit/bank sources) to be transferred to back to bank account, i would imagine that alot of people will just keep the minimum they need or $0. I can't help but think that perhaps this Grab collaboration with UOB is a means for Grab to replenish the $ in the Grab Wallet. And since we can't withdraw that, that somehow benefits Grab. UOB on the other hand absorbs the credit risk for Grab, and this symbiotic relationship somehow entrenches the customer deeper into the Grab/UOB ecosystem.

 

[Trazora]

Hi

Yes you are right. It is a very troublesome card and i had alot of near misses in terms to hitting quota because the T&Cs keep changing. My saving grace is to call UOB to find out if such n such a spend is eligible and how much more i need to hit the quota.

Problem, i find with UOB ONE card is that if a person spends consecutively 3 months following credit card cycle... $500, $500, $500 vs $900, $800, $900, both scenario will get $50 on the 4th month as rebate; since the 2nd scenario, the person havent hit the next tier of $1k/mth for 3mths. This card is only good for those able to hit consistent spending.

So what people end up doing is finding other means to try to get some perks on that extra spending above the min quota. Like, if one spends 900, $800, $900, it might be better to top-up $100, $200, $100 to make it $1k/mth for 3 mth. The simplest way is to buy NTUC vouchers.

But then you end up with alot of vouchers which if you don't sell, you need to use and if you use, mean the next few months, your credit card spending on groceries will drop, so instead of hitting the $1k/mth quota, you end up hitting the $500/mth quota.

So for a period, i was doing this. $500, $500, $500 quota and then $1k, $1k, $1k, n the cycle repeats. Very unsustainable due to the mental strain of always trying to be mindful of quota and maximising rebates.

if can spend $800 each month, might as well use other cards that give higher rebate% e.g. OCBC frank or maybank family and friends or UOB EVOL

 

[netzach]

if can spend $800 each month, might as well use other cards that give higher rebate% e.g. OCBC frank or maybank family and friends or UOB EVOL

UOB EVOL good?
usually i hit close to $1k thereabouts...$800++, 900++ 1k+ like that...
but not consistent...so hard to get the UOB ONE cash rebate...

 

[Trazora]

UOB EVOL good?
usually i hit close to $1k thereabouts...$800++, 900++ 1k+ like that...
but not consistent...so hard to get the UOB ONE cash rebate...

good or not depends on your spending pattern. It is a new card that with effect from 17Jun, gives 8% for online (capped for $250 spend), 8% for mobile contactless (capped for $250 spend), 0.3% for others (e.g. physical card paywave/swipe), must meet overall $600 spend each month.

 

[netzach]

good or not depends on your spending pattern. It is a new card that with effect from 17Jun, gives 8% for online (capped for $250 spend), 8% for mobile contactless (capped for $250 spend), 0.3% for others (e.g. physical card paywave/swipe), must meet overall $600 spend each month.

thanks, i'll go check it out.

 

[tesarise]

good or not depends on your spending pattern. It is a new card that with effect from 17Jun, gives 8% for online (capped for $250 spend), 8% for mobile contactless (capped for $250 spend), 0.3% for others (e.g. physical card paywave/swipe), must meet overall $600 spend each month.

That means minimum will have 100 spent on the 0.3% cat? In that case max cashback is 6.71 % if you hit exactly 250 250 100. Feels even more tiring than uobone to track and maximize...

 

[Trazora]

That means minimum will have 100 spent on the 0.3% cat? In that case max cashback is 6.71 % if you hit exactly 250 250 100. Feels even more tiring than uobone to track and maximize...

yea, but the rebate higher.

 

[highsulphur]

can always use it to top up Grab Pay Master Card and then use that GPMC as visa card ( no more Amex Limitation + you get additional 1.2% cashback from grab point)

How do you get 1.2% cashback from grab points

 

[laurent_rio]

How do you get 1.2% cashback from grab points

for platinum user you get 6 grab point/$, 2500 grab point equal 5$ voucher (grab,qoo10,capita$,etc) when redeem at grab rewards

 

[highsulphur]

can use the Amex card topup grab and use grabpay mastercard, can earn grab points also when using grabpay

Why are grab points attractive? What's the best usage for them?

 

[highsulphur]

for platinum user you get 6 grab point/$, 2500 grab point equal 5$ voucher (grab,qoo10,capita$,etc) when redeem at grab rewards

Thank you...

 

[highsulphur]

good or not depends on your spending pattern. It is a new card that with effect from 17Jun, gives 8% for online (capped for $250 spend), 8% for mobile contactless (capped for $250 spend), 0.3% for others (e.g. physical card paywave/swipe), must meet overall $600 spend each month.

Sounds like a good replacement for dbs live fresh

 

[Disaresta]

Seems like the card is finally approved for me, although i didnt get any approval message since applying on Sat. Saw the card in the app this morning.

 

[silverbomb]

That means minimum will have 100 spent on the 0.3% cat? In that case max cashback is 6.71 % if you hit exactly 250 250 100. Feels even more tiring than uobone to track and maximize...

0.3% is only if the payment is not online and contactless. Once u hit $250 max spend per category, anything contactless or online will not earn any rebates if you're planning to clock the $100 to meet the $600 spending.

Overall still a better card for now with a min of 6.66% upon maxing out both categories and all $600 spent is purely on these 2 categories

For those in the game of cards, a little effort is needed to maximise the gains of the rebates/miles of the respective card.

 

[tesarise]

0.3% is only if the payment is not online and contactless. Once u hit $250 max spend per category, anything contactless or online will not earn any rebates if you're planning to clock the $100 to meet the $600 spending.

Overall still a better card for now with a min of 6.66% upon maxing out both categories and all $600 spent is purely on these 2 categories

For those in the game of cards, a little effort is needed to maximise the gains of the rebates/miles of the respective card.

6.66 is max, not min. The more you spend after hitting this ideal threshold, the lower your effective cashback will be.

 

[silverbomb]

6.66 is max, not min. The more you spend after hitting this ideal threshold, the lower your effective cashback will be.

Yes should be max. I've alr detailed this in another thread few days back. Spend wisely.

It's a no brainer if you're spending between $600 to $800 on evol. Max cashback $20 rebate for contactless and online respectively on $250 spending each. Total $40 cashback. The additional online/contactless spending above $500 to hit min spending of $600 won't earn rebates but the effective rates becomes 6.66% for $600 spend or 5% for $800 spend. The closer u spend towards $800, it matches the live fresh 5%.

Frankly (pun intended) speaking, I wouldn't go above $600 spend once I've hit the spending requirement to max out at 6.66%

Do note the similar typical UOB exclusions applies if you're planning to spend on 'other' categories to earn 0.3% and counting of eligibility to quantify the spending requirement.

 

[kelx01]

Took about 2weeks for the card to get approved via internet banking.

 

[lindseymin]

Why are grab points attractive? What's the best usage for them?

Grab Points can be used to offset the cost of purchases. It's like equivalent of cash. So let's say you go chai fan shop and the uncle accept grab pay; u can use your grab points to offset the cost of the chai fan.

But for me, the best use for Grab points is for Grab Taxi. I usually wait for Grab to have those flash sales like $10 Grab taxi voucher for 3500 points instead of the usual 5000 points.

The normal rate is like 500-550 Grab points = $1 SGD. But to me this is not effective use of points, so i wait for discounts. Besides, the Grab Points expiry is always extended 6 months from the last Grab transaction that earned GrabPoint.

 

[lindseymin]

thanks, i'll go check it out.

I would like to add that each category has a cap to the rebates as @Trazora pointed out, which means that once you hit that spend limit, every cent above that up to the quota of $600, you won't earn rebates.

 

[netzach]

I would like to add that each category has a cap to the rebates as @Trazora pointed out, which means that once you hit that spend limit, every cent above that up to the quota of $600, you won't earn rebates.

Thanks