Benefits for Multiple Credit Cards User

[leogeo]

If I'm not wrong the rebate by Maybank on foreign transaction promotion is over. As for foreign transaction, I read somewhere that Maybank is the best. One of the charges is lower.

CIMB gives 1% cashback on all overseas spend

 

[zumaba]

feel now more & more chicken-duck talks

 

[qwertyuiop59]

feel now more & more chicken-duck talks

totally agree.

 

[bigfoot]

a few posts earlier in this thread, "ig_stech" mentions that foreign promo is till dec 2013? what is/was the rebate for?

It's just a promotion for the month of november and december (I think). They give a certain percentage of your oversea spent as rebate. I was not aware. However, it was reflected in my bank statement. So it came as a pleasant surprise to me.

 

[bigfoot]

CIMB gives 1% cashback on all overseas spend

That's good but may need to find out how much they charge for oversea spend first. Increase the oversea spending fee and then give you back as rebate maybe?

Anyway, my last oversea spent, I used my Manhattan Card because I was trying to hit the maximum $200 rebate for that quarter. If not, I would have used Maybank.

 

[y102115]

U can go to SPservices counters to pay, say w xtrasaver (need average daily bal of 6k in account w SCB)to get 2%.
U can pay your Town Council w recurring plan(if support) w xtrasaver to get 2% or U can pay the same w ANZ plat cc w recurring plan to get 5% (but must hit $600 min spending). The list never end......

Thanks Bigfoot for such great sharing.

Is it really we can use Xtrasaver to pay utilities bill at SP's counter. If yes, I guess we can use other credit card to pay as well.

Can share how to arrange the recurring payment for town council fee by Xtrasaver? Except ANZ (with min $600 spending/month), no other can card earn 2% or more on town council fee. Thanks.

 

[y102115]

Rebates for Cards which require Minimum Spending
Personally, I am not too familiar with this as I usually don't use such card. I find it a hassle having to keep track how much I spend in a month. Anyway, for the benefits of those who are interested, I will compile the list here.

ANZ Platinum
Min spend of $600 monthly, CAP $300 per quarter.
1. Recurring Bill [5%] - M1, Starhub, Bishan-TPY Town Council, Holland-BP TC, Marine Parade TC, Pasir Ris-Punggol TC, Sembawang TC, Tampines TC, Tanjong Pagar TC
2. Online Merchant [5%] - Agoda.com, Amazon.com, Apple.com.sg, AsiaTravel.com, Asos.com, Deal.com.sg, Expedia.com.sg, Qoo10.sg, Groupon.sg, HotelClub.com, Hotels.com, KFCOnline.com.sg, M1shop.com.sg, McDelivery.com.sg, Net-a-porter.com, Noelgifts.com, Pizzahut.com.sg, Reebonz.com, Singtelshop.com, SISTIC.com.sg, Tarazz.com, Theoutnet.com, VPost.com.sg, Zuji.com.sg
3. Groceries [5%] - Cold Storage, Market Place, Jasons, ThreeSixty, Giant
4. Transport [5%] - ALL ERP transaction when you sign up for MotorPay, EZ-Reload auto top-ups
Verdict: This looks GOOD. If I can achieve $600 monthly spend, I may use this as my main card. If it has petrol rebate, hitting $600 should be easy.

UOB ONE Card
If you can consistently spend $300, $800 or $1500 per month for 3 consecutive months, you will get $30, $80 or $150 rebate respectively. There must also be at least 3 transactions made per month. This works out to be 3.33%. Con: May not be easy to achieve and keep track.

Standard Chartered SingPost Platinum
Min spend of $500 per month. CAP $50 per month.
1. Any supermarket [6%]
2. Online purchase [2%]
3. Clout Shoppe/vPost purchase [2%]
4. Others [0.25%]

HSBC Revolution Credit Card
Min spend of $300 per month for 3 months. CAP $100
1. EZlink Reload [7%]
2. Budget Airlines [5%] - Welcome To Tiger Airways, www.airasia.com, Cheap flights | Jetstar, FlyScoot.com: We're gearing up for adventure
Verdict: Looks good but the $300 monthly spend is difficult to achieve since you are using other cards for other payment.

Citibank SMRT Card
Min spend of $600 per month. If it is below $600, there will be a reduction of 0.3% on the rebate, which is not signnificant IMO. Please note that in addition to the rebate stated here, you will also get 2% Citi rebate at some of these merchants. This will effectively make the SMRT cards very attractive. Click here to find out the merchants participating in the Citi Rebate Program.
1. Groceries [5%] - Giant, Cold Storage, Market Place, Sheng Siong, Shop n Save, Selected NTUC outlets, Singapore Meidi-Ya Supermarket.*at least $50 per transaction is required.
2. Coffee [5%] - Starbucks Coffee, The Coffee Bean & Tea Leaf, Coffee Club, Dome Cafe, TCC, Gloria Jean's Coffees
3. Health & Beauty [2%] - Watson, Guardian, Unity, GNC, Nature's Farm.
4. Restaurant [2%] - Crystal Jade, Swensen, Sakae Sushi, Jack's Place
5. Citibank One Bill [2%] - M1, Singtel, Starhub, ACE Insuarnce, Prudential, Pac Net, SPH, Selected Town councils
6. Ezlink reload [2%], Any other spending [0.3%]

Note sure Bigfoot wants to include $500 per month spending on SCB's Bonusaver card+S$25k savings to earn about S$39 rebate (1.88% p.a. interest on S$25k savings), which provides 7.8% rebate on credit card spending (savings interest rate is close to zero now).

 

[windroar]

Note sure Bigfoot wants to include $500 per month spending on SCB's Bonusaver card+S$25k savings to earn about S$39 rebate (1.88% p.a. interest on S$25k savings), which provides 7.8% rebate on credit card spending (savings interest rate is close to zero now).

very insightful. i have bonusaver but i never tot this way.

 

[bigfoot]

Thanks Bigfoot for such great sharing.

Is it really we can use Xtrasaver to pay utilities bill at SP's counter. If yes, I guess we can use other credit card to pay as well.

Can share how to arrange the recurring payment for town council fee by Xtrasaver? Except ANZ (with min $600 spending/month), no other can card earn 2% or more on town council fee. Thanks.

Yes, for SP, you can pay by credit card at the counter. Normally we would use Manhattan card (must ensure at least $3000) to get 5% rebate. I tried to coincide my HDB carpark (pay one year $90X12) and then pay in advance around $1000 over for my SP bills. Then make up the rest with my regular spending. Usuall can hit $3k easily to get 5% rebate.
If not, XtraSaver confirm can get 2%.
As for Town council, do a google search for their website. The GIRO form should be available at their website. Download, print and post to them. Then it will be deducted monthly via you Xtra Saver card. Yes u can get 2% rebate for that.

 

[bigfoot]

Note sure Bigfoot wants to include $500 per month spending on SCB's Bonusaver card+S$25k savings to earn about S$39 rebate (1.88% p.a. interest on S$25k savings), which provides 7.8% rebate on credit card spending (savings interest rate is close to zero now).

I do have Bonus Saver but am not taking advantage of the 1.88% promo because I find the $500 spending a bit of a hassle. Furthermore, most of my spending have 2-5% rebate already. If I were to use Bonus Saver card I won't be entitled to that. As for the additional $25k in the account, I can easily park it somewhere can earn interest (around 1%). It really depend on you and how you want to do it. Thanks for the info.

 

[paurusu]

Note sure Bigfoot wants to include $500 per month spending on SCB's Bonusaver card+S$25k savings to earn about S$39 rebate (1.88% p.a. interest on S$25k savings), which provides 7.8% rebate on credit card spending (savings interest rate is close to zero now).

Similar view with bigfoot that actually u can park your $25k somewhere else with higher interest rate - so you need to factor in your opportunity cost there. Example will be CIMB star product.

And remember that your calculation is based on $500 spending , so higher spending will incur decreasing reward based on your calculation (since your interest is fixed). $500 is the optimum and minimal spending in this case

 

[windroar]

Similar view with bigfoot that actually u can park your $25k somewhere else with higher interest rate - so you need to factor in your opportunity cost there. Example will be CIMB star product.

And remember that your calculation is based on $500 spending , so higher spending will incur decreasing reward based on your calculation (since your interest is fixed). $500 is the optimum and minimal spending in this case

i dont put FDs but i'll just assume FD is at 1.1% now
1.88 - 1.1 = 0.78
0.78% of 25k = $16.25
$16.25 out of $500 spending is still quite a handsome 3.25% returns for those tracking and timing UOB one card with 3.33% or spend <3k that can't hit manhattan 5%

also can borrow $25k at a very low cost or even free. the arbitrage will be worth it depending how well u manage it.

of course, all these works only with a spending of $500 exactly.

 

[bigfoot]

i dont put FDs but i'll just assume FD is at 1.1% now
1.88 - 1.1 = 0.78
0.78% of 25k = $16.25
$16.25 out of $500 spending is still quite a handsome 3.25% returns for those tracking and timing UOB one card with 3.33% or spend <3k that can't hit manhattan 5%

also can borrow $25k at a very low cost or even free. the arbitrage will be worth it depending how well u manage it.

of course, all these works only with a spending of $500 exactly.

What I'm saying is the rewards from the $500. It's can be 5% of $500. Multiply 12 you get 60%. Yours I believe is 3.25% per annum?

 

[windroar]

What I'm saying is the rewards from the $500. It's can be 5% of $500. Multiply 12 you get 60%. Yours I believe is 3.25% per annum?

per mth
<5% cards but >5% if leveraged

 

[bigfoot]

per mth
<5% cards but >5% if leveraged

But if I'm not wrong, bonus saver gives 1.88% per annum for the $25k. But if you spend the $500 using say, Maybank card at NTUC, you will get 5% rebate of the $500. Compare this to the $500 you spend using bonus saver card and you only end up getting 1.88% per annum of $25k. Not to mention that you must have $25k in the account to realise the full benefits.

 

[bigfoot]

Ok let me illustrate with figures.

Say, if you spend $500 on cards every month.
Assuming you spend at NTUC using Maybank card, you will get 5% rebate. 5% of $500 x 12 months = $300.
Put the $25k into an account (currently esaver offer more than 1% - if you know how to go about doing it). Let's assume it is 1%. 1% of $25k = $250.
$300 + $250 = $550.

Bonusaver account give 1.88% of $25k = $470.

So effectively you benefit more using other cards. Furthermore, the more you spend using other cards, the more benefits over the bonussaver card. You don't have to worry about keeping track of the $500. And also, in order to maximise the full potential, you must ensure that u spend just nice, $500. Which can be quite difficult to achieve.

But like I said, different people have different way of spending. This is just my tots. I know there are many people who still prefer Bonus Saver. At the end of the day, you know best how u spend. You try and maximise the returns with minimal fuss.

 

[windroar]

already mentioned the 3.25% < 5% cards

 

[y102115]

Yes, for SP, you can pay by credit card at the counter. Normally we would use Manhattan card (must ensure at least $3000) to get 5% rebate. I tried to coincide my HDB carpark (pay one year $90X12) and then pay in advance around $1000 over for my SP bills. Then make up the rest with my regular spending. Usuall can hit $3k easily to get 5% rebate.
If not, XtraSaver confirm can get 2%.
As for Town council, do a google search for their website. The GIRO form should be available at their website. Download, print and post to them. Then it will be deducted monthly via you Xtra Saver card. Yes u can get 2% rebate for that.

Thanks. wish there are some online platform where i can pay condo management fee and childcare fee, which are currently paid via GIRO, via CC

 

[y102115]

I do have Bonus Saver but am not taking advantage of the 1.88% promo because I find the $500 spending a bit of a hassle. Furthermore, most of my spending have 2-5% rebate already. If I were to use Bonus Saver card I won't be entitled to that. As for the additional $25k in the account, I can easily park it somewhere can earn interest (around 1%). It really depend on you and how you want to do it. Thanks for the info.

Thanks for option provided

 

[ralphlauren]

Rebates for Cards which require Minimum Spending
Personally, I am not too familiar with this as I usually don't use such card. I find it a hassle having to keep track how much I spend in a month. Anyway, for the benefits of those who are interested, I will compile the list here.

ANZ Platinum
Min spend of $600 monthly, CAP $300 per quarter.
1. Recurring Bill [5%] - M1, Starhub, Bishan-TPY Town Council, Holland-BP TC, Marine Parade TC, Pasir Ris-Punggol TC, Sembawang TC, Tampines TC, Tanjong Pagar TC
2. Online Merchant [5%] - Agoda.com, Amazon.com, Apple.com.sg, AsiaTravel.com, Asos.com, Deal.com.sg, Expedia.com.sg, Qoo10.sg, Groupon.sg, HotelClub.com, Hotels.com, KFCOnline.com.sg, M1shop.com.sg, McDelivery.com.sg, Net-a-porter.com, Noelgifts.com, Pizzahut.com.sg, Reebonz.com, Singtelshop.com, SISTIC.com.sg, Tarazz.com, Theoutnet.com, VPost.com.sg, Zuji.com.sg
3. Groceries [5%] - Cold Storage, Market Place, Jasons, ThreeSixty, Giant
4. Transport [5%] - ALL ERP transaction when you sign up for MotorPay, EZ-Reload auto top-ups
Verdict: This looks GOOD. If I can achieve $600 monthly spend, I may use this as my main card. If it has petrol rebate, hitting $600 should be easy.

UOB ONE Card
If you can consistently spend $300, $800 or $1500 per month for 3 consecutive months, you will get $30, $80 or $150 rebate respectively. There must also be at least 3 transactions made per month. This works out to be 3.33%. Con: May not be easy to achieve and keep track.

Standard Chartered SingPost Platinum
Min spend of $500 per month. CAP $50 per month.
1. Any supermarket [6%]
2. Online purchase [2%]
3. Clout Shoppe/vPost purchase [2%]
4. Others [0.25%]

HSBC Revolution Credit Card
Min spend of $300 per month for 3 months. CAP $100
1. EZlink Reload [7%]
2. Budget Airlines [5%] - Welcome To Tiger Airways, www.airasia.com, Cheap flights | Jetstar, FlyScoot.com: We're gearing up for adventure
Verdict: Looks good but the $300 monthly spend is difficult to achieve since you are using other cards for other payment.

Citibank SMRT Card
Min spend of $600 per month. If it is below $600, there will be a reduction of 0.3% on the rebate, which is not signnificant IMO. Please note that in addition to the rebate stated here, you will also get 2% Citi rebate at some of these merchants. This will effectively make the SMRT cards very attractive. Click here to find out the merchants participating in the Citi Rebate Program.
1. Groceries [5%] - Giant, Cold Storage, Market Place, Sheng Siong, Shop n Save, Selected NTUC outlets, Singapore Meidi-Ya Supermarket.*at least $50 per transaction is required.
2. Coffee [5%] - Starbucks Coffee, The Coffee Bean & Tea Leaf, Coffee Club, Dome Cafe, TCC, Gloria Jean's Coffees
3. Health & Beauty [2%] - Watson, Guardian, Unity, GNC, Nature's Farm.
4. Restaurant [2%] - Crystal Jade, Swensen, Sakae Sushi, Jack's Place
5. Citibank One Bill [2%] - M1, Singtel, Starhub, ACE Insuarnce, Prudential, Pac Net, SPH, Selected Town councils
6. Ezlink reload [2%], Any other spending [0.3%]

Hi, sorry my english not good. Can i check for anz, does the 5% apply for all retail transaction? Or only for the 4 categories nia?