InstaReM's AMAZE MasterCard

[revhappy]

I really don't understand the point of this card anymore, I agree with @highsulphur
1)Use linked card get hit with 1.9% markup
2)Top up wallet with credit card, don't earn any points and will have left over cash in the wallet which might be difficult to withdraw out, need to constantly plan how much to top up the wallet and how much to convert.

Might as well use Trust Bank card or FSMOne card is better right?

 

[fr33d0m]

I really don't understand the point of this card anymore, I agree with @highsulphur
1)Use linked card get hit with 1.9% markup
2)Top up wallet with credit card, don't earn any points and will have left over cash in the wallet which might be difficult to withdraw out, need to constantly plan how much to top up the wallet and how much to convert.

Might as well use Trust Bank card or FSMOne card is better right?

beauty is in the eye of beholder.

Instarem is great for my use case, both domestic and foreign. I have earned hundreds of thousands of more miles.

 

[revhappy]

beauty is in the eye of beholder.

Instarem is great for my use case, both domestic and foreign. I have earned hundreds of thousands of more miles.

I guess for a big spender and miles chaser it makes sense. But for people who spend <$500 a month and rely on cashback and then go on occasional overseas vacations and spend like another $500 in FX, I think the Amaze card can be passed.

 

[hwmook]

I really don't understand the point of this card anymore, I agree with @highsulphur
1)Use linked card get hit with 1.9% markup
2)Top up wallet with credit card, don't earn any points and will have left over cash in the wallet which might be difficult to withdraw out, need to constantly plan how much to top up the wallet and how much to convert.

Might as well use Trust Bank card or FSMOne card is better right?

1. 1.9% can get up to 8% back or 4miles/$ which is amazing. It's pretty simple or straightforward maths, no brainer, no competition. You even get 0.5% worth as points.
2. You spend with your wallet on foreign currency will get 1% worth of points and neither Trust nor FSMone will provide better rate so in the end the best deal is still Amaze card. You get the best rate with 1% worth of points.

 

[fr33d0m]

I guess for a big spender and miles chaser it makes sense. But for people who spend <$500 a month and rely on cashback and then go on occasional overseas vacations and spend like another $500 in FX, I think the Amaze card can be passed.

I thought you have quite high tax to pay? How could be it < 500 per month? Plus all kinds of utilities, government payment.

 

[CantStopWhining]

wah, haven't use the card for a long time. But just swiped for USD, the exchange rate is 1.38?! Even their own send money function is only 1.344? What's with this 2.7% markup?

Is there something I'm missing? Not a miles player so the net benefits I'm getting now is really thrash after the insane markup? Something to do with me swiping at 6am?

 

[revhappy]

I thought you have quite high tax to pay? How could be it < 500 per month? Plus all kinds of utilities, government payment.

Foreigners taxes are usually twice that of locals for the same IRAS assessment amount, because we don't get the CPF employer contribution and employee contribution tax free, tax deductible. My employer pays into a private provident fund in lieu of CPF. So the entire 24k is taxable, while for you 24k is tax free. Then you get several other types of rebates and reliefs which we don't get. So on a 150k IRAS assessment we pay about 10-11k in taxes.

Also rental costs about 3300 per month for me and then international school fees which is 1.2k for my daughter.

These are fixed costs. Apart from this our expenses are quite frugal. We shop in small Indian grocery stores and in wet market for vegetables etc and they don't accept credit cards.

My main credit card spend is SP services, Senoko, M1 500mbps broadband, SimplyGo. Faiirprice for spend is max $150 In a month, to buy yoghurt drink, Yogurt, UHT milk, bread, eggs etc Very occasional eat out or other spending, so I occasionally cross 500, sometimes I don't even hit 350.

 

[revhappy]

1. 1.9% can get up to 8% back or 4miles/$ which is amazing. It's pretty simple or straightforward maths, no brainer, no competition. You even get 0.5% worth as points.
2. You spend with your wallet on foreign currency will get 1% worth of points and neither Trust nor FSMone will provide better rate so in the end the best deal is still Amaze card. You get the best rate with 1% worth of points.

Do I have to preconvert SGD to MYR in the wallet or does Amaze convert it in real time at the time of the transaction?

 

[wenguang]

Do I have to preconvert SGD to MYR in the wallet or does Amaze convert it in real time at the time of the transaction?

both ways are fine.
On good rate days, you can convert in wallet first for future use. otherwise it will do real time conversion from sgd to myr.

 

[revhappy]

both ways are fine.
On good rate days, you can convert in wallet first for future use. otherwise it will do real time conversion from sgd to myr.

Thanks!

 

[twosix]

Do I have to preconvert SGD to MYR in the wallet or does Amaze convert it in real time at the time of the transaction?

No need to preconvert. Today's rates is ~3.4848.

 

[CrashWire]

wah, haven't use the card for a long time. But just swiped for USD, the exchange rate is 1.38?! Even their own send money function is only 1.344? What's with this 2.7% markup?

Is there something I'm missing? Not a miles player so the net benefits I'm getting now is really thrash after the insane markup? Something to do with me swiping at 6am?

Mastercard rate is fast to rise but slow to drop. It will match +1.9% markup in a few days.

 

[revhappy]

GXS debit card is another alternative. You get random cashback for transactions above $10, no FX fee. Could be worth trying.

I just ordered the physical card, maybe will use it for my upcoming KL trip.

 

[twosix]

GXS debit card is another alternative. You get random cashback for transactions above $10, no FX fee. Could be worth trying.

I just ordered the physical card, maybe will use it for my upcoming KL trip.

So same as youtrip and revolut cards?

 

[revhappy]

So same as youtrip and revolut cards?

Yes, it is similar to Trust card. But Trust uses visa rates and gxs uses MasterCard rates.

 

[wira]

i use it mainly to pair with Citi rewards card to get 4 mpd local spending

 

[stonkogu]

No screenshot but I also got the notification and failed to add my UOB Lady's Card

Update: Working fine now. Just managed to add my UOB Lady's Card

 

[BRYSG7]

just for all to take note, mark up is now 2%. still not too bad. 1.9% to 2.0% is not really noticeable

 

[Imhthc]

Work well with my Maybank f&f 8% category rebate.

 

[someusername]

This card gets worse and worse. New limit of earning a maximum of 500 instapoints per month - WTF.