Poll On SSB (Singapore Savings Bond)

Will You Be Applying for SSB? If So, How Much?

  • Not Applying For SSB

    Votes: 27 33.3%
  • Applying $500-$2,000

    Votes: 12 14.8%
  • Applying $2,000-5,000

    Votes: 4 4.9%
  • Applying $5,000-10,000

    Votes: 10 12.3%
  • Applying $10,000 to $20,000

    Votes: 12 14.8%
  • Applying $20,000 to $50,000

    Votes: 16 19.8%

  • Total voters
    81
  • Poll closed .

sandwicher

Senior Member
Joined
Nov 27, 2007
Messages
1,421
Reaction score
4
I beg to differ

if the saver were to aim for a higher tier interest (better than SSB) from ocbc360 and uob account, he need to spend at least $500 on both bank's credit card.. this alone is a tall order for many people

I respectfully disagree too. Say you've $50k. You just need to concentrate your spending on one Credit Card to achieve the min $500 requirement.

This can include all your telco bills, utilities bills, insurance (for UOB), gym membership, dining (pay when dining with your friends).

$500 is not a "tall" order. You could also pay more bills on one month and skip the next.

Even without the $500 spending on CC, you can easily achieve 1.75% on your balances (which is higher than 1 year of SSB and slightly higher than a 5 year SSB?). We mustn't forget the compounding effect of the two instrument (one being a monthly payout, the other semi-annually - both compounded)

But of course, to each its own :)
 
Last edited:

Flex11

Master Member
Joined
Oct 4, 2002
Messages
3,174
Reaction score
0
I respectfully disagree too. Say you've $50k. You just need to concentrate your spending on one Credit Card to achieve the min $500 requirement.

This can include all your telco bills, utilities bills, insurance (for UOB), gym membership, dining (pay when dining with your friends).

$500 is not a "tall" order. You could also pay more bills on one month and skip the next.

Even without the $500 spending on CC, you can easily achieve 1.75% on your balances (which is higher than 1 year of SSB and slightly higher than a 5 year SSB?). We mustn't forget the compounding effect of the two instrument (one being a monthly payout, the other semi-annually - both compounded)

But of course, to each its own :)

Actually I am disagreeing based on the $110k scenario you listed previously as I find spending $1000 on CC ($500per bank) every month to hit the higher tier interest rate to be tough and unsustainable for common folks like me.

:)
 

felixleong

Banned
Joined
Aug 7, 2008
Messages
5,046
Reaction score
0
do u all know that when u swipe the credit card, the merchant has to pay 1-5% of the total sale to the financial company?

in the end, banks win
 

felixleong

Banned
Joined
Aug 7, 2008
Messages
5,046
Reaction score
0
Yes.. Even nets has a sales charge but at a much lower %.

sometimes take taxi.. the uncle damn **

dun allow card, dun allow nets... cause they dun want bank to eat their fees...

the taxi uncle die die want cash only... make ppl sibei dulan
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
do u all know that when u swipe the credit card, the merchant has to pay 1-5% of the total sale to the financial company?

in the end, banks win

When you swipe the credit card, MA and V very happy, I also very happy. :s12:
 

Flex11

Master Member
Joined
Oct 4, 2002
Messages
3,174
Reaction score
0
sometimes take taxi.. the uncle damn **

dun allow card, dun allow nets... cause they dun want bank to eat their fees...

the taxi uncle die die want cash only... make ppl sibei dulan

Actually I think there is no loss for the taxi uncle side leh.

The CC charges are incurred by the taxi companies. The taxi companies counter it by passing it directly to the consumers by charging a 10% surcharge (at least by CDG)

The more probable reason for taxi uncles to reject card payment is because they cannot take the money immediately.. Payment by cards probably take abt 1-3 days before they can claim back from their respective companies
 

felixleong

Banned
Joined
Aug 7, 2008
Messages
5,046
Reaction score
0
often I see youngsters keep bragging about their discounts and cash rebates from using credit cards... LOL

many of them think that money drops from the sky... actually all these perks comes from their own pockets.. its just a cutback from the $$ leeched from the merchants...

if really wanna save $$, can always speak to the merchant and buy in bulk via cash, can get the real discounts

example at Challenger stores, u can ask the counter person for corporate rates if buying bulk items
 
Last edited:

felixleong

Banned
Joined
Aug 7, 2008
Messages
5,046
Reaction score
0
Actually I think there is no loss for the taxi uncle side leh.

The CC charges are incurred by the taxi companies. The taxi companies counter it by passing it directly to the consumers by charging a 10% surcharge (at least by CDG)

The more probable reason for taxi uncles to reject card payment is because they cannot take the money immediately.. Payment by cards probably take abt 1-3 days before they can claim back from their respective companies

ya lor

speaking of that, last time credit card companies strong arm the taxi companies... until comfort delgro dulan and fight back and screw those credit card companies big time

http://www.todayonline.com/singapore/no-visa-cards-comfortdelgro-cabs-monday

SINGAPORE — From Monday, commuters will no longer be able to use their Visa cards to pay for rides in ComfortDelGro taxis. In an email to its cabbies, the taxi operator said it was informed by Visa that it can no longer charge an administrative fee.
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
btw the new apple pay, do u feel its a threat to your MA and V ma?

Vested in V, MA, BABA and even more in AAPL. Yes, I agree Apple Pay is a threat, especially in US where it's thriving.
 

sandwicher

Senior Member
Joined
Nov 27, 2007
Messages
1,421
Reaction score
4
often I see youngsters keep bragging about their discounts and cash rebates from using credit cards... LOL

many of them think that money drops from the sky... actually all these perks comes from their own pockets.. its just a cutback from the $$ leeched from the merchants...

if really wanna save $$, can always speak to the merchant and buy in bulk via cash, can get the real discounts

example at Challenger stores, u can ask the counter person for corporate rates if buying bulk items

I don't think this applies to the average consumer (we are not merchants/suppliers). You mean you go challenger and buy a toner can get discount by paying cash?

You mean by paying cash at Sheng Siong you get it cheaper? Nope, POSB Everyday card gives you 5% discount.

So yes, discounts is there, discount is true. I don't think its an illusion or something that's worth laughing leh...
 

felixleong

Banned
Joined
Aug 7, 2008
Messages
5,046
Reaction score
0
Hm.. I also dunno leh LOL

for me, i totally dun use credit cards one..

only use cash and my 1 posb debit card nia LOL
 

knightdreamer

Senior Member
Joined
Jan 25, 2013
Messages
590
Reaction score
0
I don't think this applies to the average consumer (we are not merchants/suppliers). You mean you go challenger and buy a toner can get discount by paying cash?

You mean by paying cash at Sheng Siong you get it cheaper? Nope, POSB Everyday card gives you 5% discount.

So yes, discounts is there, discount is true. I don't think its an illusion or something that's worth laughing leh...

Ya... most likely those merchants had aready include these charges in their items. If you use cash then they earn lor.
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
If one knows how to use, it's good to have credit card.
Example, for my travel I use POSB everyday card as ez-link card, every top up earns $1 which is = 2% savings. Everything I pay by ezlink can get 2% rebate. It's a credit card+ezlink combo. That's just 1 of the savings.

The other one is the delayed payment which means you can earn 1 month of interest for that $$ you spend. It might not seem much but every month earn a few % interest of what you spend, add up also not bad de, especially for big spenders.
 

sandwicher

Senior Member
Joined
Nov 27, 2007
Messages
1,421
Reaction score
4
If one knows how to use, it's good to have credit card.
Example, for my travel I use POSB everyday card as ez-link card, every top up earns $1 which is = 2% savings. Everything I pay by ezlink can get 2% rebate. It's a credit card+ezlink combo. That's just 1 of the savings.

The other one is the delayed payment which means you can earn 1 month of interest for that $$ you spend. It might not seem much but every month earn a few % interest of what you spend, add up also not bad de, especially for big spenders.

Yup, as long as you're a good pay master for your bills, Credit Card will have benefits for consumers (rather than losing out).

Discounts are tagged to dining
Discounts are tagged to supermarket purchases
Discounts are tagged to telco bills
Discounts are tagged to online purchases (including air tickets) etc etc etc :D

Some cards even have 1 for 1 discounts etc. How to say not good?
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top