FWIW, I just called UOB this morning, and was given some useful information on this card:
The "quarterly" rebate is not based on calendar quarter (my own assumption previously), but on a 3-month basis from the time you sign up, e.g. you sign up and get approved for the card in March, and the "quarterly" period for the $500 spend and associated rebate is March, April and May.
However, if you do not meet the minimum $500 spend in the first month, they will pro-rate the rebate accordingly still if you hit the $500 in each of the subsequent two months.
So in my case, I didn't meet the minimum spend in March, so no rebate and added interest for the ONE bank account in March, but as long as I hit $500 in April and May, I can still get the "quarterly" rebate for the card, and also the incremental interest in my ONE bank account in April and May.
Came into this thread to clarify on this as I missed the $500 spending for the first month so thanks for the update.
This confirms the following clause in the T&C:
Quarterly Cash Rebate for the
first Quarter
may be awarded on a pro-rated basis as follows:
i)
where the Minimum Amount for a Tier is only met
in the third Statement for the first Quarter, then
one-third of the Quarterly Cash Rebate for that res
pective Tier will be awarded;
ii)
where the Minimum Amount for a Tier is only me
t in the second and third Statements for the first
Quarter, then two-thirds of the Quarterly Cash Reba
te for that respective Tier will be awarded; or
For the purpose of this clause, the
first Quarter
means the period of three consecutive statement mo
nths
commencing from the date on which the Principal Car
dmember is first issued a Card.
For the avoidance of doubt, Quarterly Cash Rebate f
or any subsequent Quarter will only be awarded if t
he
Minimum Amount is fully met for the Quarter