InstaReM's AMAZE MasterCard

[silverbomb]

Maybe they have a business model like Grab - each customer costs money, so the more customers they have the more money they lose. See how the wallet goes - it will most probably end up like their ill considered AXS support. Hopefully there'll be a window of opportunity before it all gets nerfed.

I think most would agree whatever the case, the card pairing should remain as it's the current USP where no other competitors out there here. It'll be such a silly move if they didn't think thru properly and ends up getting all Amaze being excluded regardless including the pairing mode. Hence I can do away with the so called 'window of opportunity' for the wider window that we've been having for the pairing since amaze started

Got to see how they launch it then, prudence counts.

 

[CrashWire]

But then again, if it's the typical quasi cash/prepaid MCC code when they launched wallet top up then most banks have already excluded the MCCs. So that's safer that way and banks won't really be bothered yet. So hopefully they exercise some senses and thought process into launching this

When you first add a card to Amaze, the MCC shown for the verification transaction is some quasi-cash MCC, so I would expect them to reuse the same.

 

[silverbomb]

Any clue how they determine the quarter spend for this quarter 1%, so long based on transaction date will be safe (left today and tmr) and not when it gets posted on our credit card?

 

[Trazora]

Any clue how they determine the quarter spend for this quarter 1%, so long based on transaction date will be safe (left today and tmr) and not when it gets posted on our credit card?

should be based on transaction date, Amaze charge immediately

 

[silverbomb]

should be based on transaction date, Amaze charge immediately

Ok cos usually I hit the cap before the last parts of the month so didn't really have chance to notice the cut off.

 

[yiron]

Any clue how they determine the quarter spend for this quarter 1%, so long based on transaction date will be safe (left today and tmr) and not when it gets posted on our credit card?

I asked Instarem before. Not sure how best to interpret their reply...

My Qn to Instarem: For the cashback, are the eligible transactions counted by transaction date or posting date? For example, if I make an eligible transaction on 31 Mar using my Amaze card, and the transaction is posted on 3 Apr, would this transaction count towards the cashback for the quarter of Jan to Mar or the quarter of Apr to Jun?

Instarem's reply: The charges on your Amaze card are posted when you initiate a transaction. However, the transaction shall qualify for the cashback as per the date the charges were posted on the card. As per your example, the cashback for the said transaction shall reflect in the quarter April to June.

My interpretation is that the charge is shown on the app once transacted. However, at the backend, there is still a posting process for the charge to Amaze card, and Amaze computes the cashback based on this posting date (which for some reason, I don't see in the app).
So for example, I transact on 30th Mar using Amaze card and the merchant posts the charge on 1st Apr (i.e. the charge is no longer pending), Amaze counts the cashback as 1st Apr, not 30th Mar.

I've never managed to test this before, so take this as you will.

 

[littlewingz]

Hi all,

May I check regarding payments below S$10. Will they count towards the quarterly $1500 spending requirement? Thank you.

 

[silverbomb]

Hi all,

May I check regarding payments below S$10. Will they count towards the quarterly $1500 spending requirement? Thank you.

no

 

[Trazora]

no

how u know ah

 

[silverbomb]

how u know ah

if the system method of calculating does not change from previous t&c and follows back old one.

what the prev t&c said:
Eligible Transactions for the purpose of this clause 7A refer to all settled transactions transacted by you through your Amaze Card. For the avoidance of doubt, Eligible Transactions does not include the following: (d) Transactions which are below SGD5.00

the new t&c looks pretty much rewritten as a whole so some parts may be left out by this new author/copywriter, so it leaves it open whether below SGD10 will count. someone may verify with Instarem but honestly, grand scheme of things the best thing is to clock more than $10 to get it counted both for cashback+spend requirement, and the quantity of less than $10 transaction needed (if it really does count) just to form the increased min. spend of $1.5k is going to be alot for those finding it slightly more difficult to hit the new quantum.

 

[dao]

If I link the Amaze card with Citibank Rewards card, does that make all transactions online transactions for Citibank Rewards card. All 10X Points Eligible Transactions?

 

[foo9883]

well it was fun while it lasted. i think everybody knows this card will get nerfed sooner or later.

i'm just gonna use it for foreign currency txns to take advantage of the favourable rates thats all

 

[Trazora]

If I link the Amaze card with Citibank Rewards card, does that make all transactions online transactions for Citibank Rewards card. All 10X Points Eligible Transactions?

yes so long mcc is eligible

 

[furryballs]

well it was fun while it lasted. i think everybody knows this card will get nerfed sooner or later.

i'm just gonna use it for foreign currency txns to take advantage of the favourable rates thats all

Sorry I’m new to Amaze card.

why not just just YouTrip for the favourable FX rate?

UOB absolute amex -> Grabpay -> youtrip
You earn 1.7% from amex, and tap on youtrip rates

 

[Trazora]

Sorry I’m new to Amaze card.

why not just just YouTrip for the favourable FX rate?

UOB absolute amex -> Grabpay -> youtrip
You earn 1.7% from amex, and tap on youtrip rates

If use Amaze, can still get the benefits of the linked cards e.g. 10× points on citi rewards mastercard or dbs wwmc, 8% rebate on maybank fnf. No forex fees if use overseas. In addition can get 0.5% amaze rebate for local spend, 1% for foreign spend.

 

[highsulphur]

If use Amaze, can still get the benefits of the linked cards e.g. 10× points on citi rewards mastercard or dbs wwmc, 8% rebate on maybank fnf. No forex fees if use overseas. In addition can get 0.5% amaze rebate for local spend, 1% for foreign spend.

the 1 % for foreign spend comes along with almost market rate for fx?

 

[highsulphur]

for maybank fnf, the cap for online "fashion" is $25 for 800 min spend. Does Amaze record it as online fashion to get that $25?

If yes, even if i spend $800 to get $25, it is still quite decent at 3.125%

 

[furryballs]

If use Amaze, can still get the benefits of the linked cards e.g. 10× points on citi rewards mastercard or dbs wwmc, 8% rebate on maybank fnf. No forex fees if use overseas. In addition can get 0.5% amaze rebate for local spend, 1% for foreign spend.

Let’s say you pair with SCB cashback 1.5%.
Buy some stuffs in USD.
So the total cashback (at 0% FX fee) is 1.5% (SCB) + 1% (Amaze) = 2.5%?

Hmm 0.8% advantage over UOB Absolute Amex+grab+youtrip…. not sure if worth the efforts to apply another 2 cards

 

[Trazora]

the 1 % for foreign spend comes along with almost market rate for fx?

similar fx rate as mastercard with no fees

 

[Trazora]

for maybank fnf, the cap for online "fashion" is $25 for 800 min spend. Does Amaze record it as online fashion to get that $25?

If yes, even if i spend $800 to get $25, it is still quite decent at 3.125%

Everything spend using Amaze converted to online, so long mcc is under the definition of fashion then it is considered online fashion.