UOB One Card Review | Cashback Credit Cards | Singapore

Credit Cards | Singapore
by Priyadarshini 18 August 2023

The UOB One Card is unquestionably UOB’s favourite entry-level credit card. Especially for individuals who already have a UOB One account. The credit card’s popularity stems from its core offering. A maximum of 5% cash rebate on everything, with no need to juggle multiple spending categories. That’s not to imply getting the 5% UOB One Card rebate is simple. In this blog, read about the UOB One Card review. 

Let’s see if the UOB One Card is worth the trouble.

UOB One Card Review

The UOB One Card’s Operation

This card is UOB’s flagship entry-level credit card, and it’s famous for offering up to 5% cashback. However, the terminology “5% rebate” can be misleading, and you must keep in mind that it is a flat reimbursement. The cash refund is distributed quarterly depending on three levels of required spending. To receive $50, $100, or $300 at the end of the quarter, you must continuously spend at least $500, $1,000, or $2,000 every month. There is also a monthly transaction minimum of at least 5 transactions.

If you qualify for the quarterly rebate, you will receive an additional 5% rebate on Grab transactions (excluding GrabFood, Grab Mart, and rides). And an additional 1% rebate on Singapore Power utility bills. The extra rebate is limited to $100 per month. That means you might earn up to $2,400 in rebates in a year.

How to Maximize Your UOB One Card

Simply put, spending $6,000 on a Chanel purse in the first month is not enough. In fact, you should try to avoid spending more than $2,000 every month. Even if you use your UOB One Card for $10,000 per month, you will only receive $300 at the end of the quarter. Instead, you need to be careful to spend exactly $2,000 (or $1,000, or $500) every month in that quarter. Or all of your efforts will be for naught.

The 5 transactions must also take place inside your statement month, so if you swipe your 5th transaction too near to the end, it may not be counted (the retailer may not have posted it yet). In that regard, the UOB One Card’s rebate mechanism is both generous and harsh.

Cashback & Rewards

The UOB One Card, on the other hand, is Singapore’s only cashback card, offering cash refunds on nearly everything. It should not be difficult to attain if you concentrate your daily spendings such as groceries, gasoline, utilities, and regular expenditures on this card. Payments to the government, educational institutions, stored value top-ups, and insurance premiums are among the key exclusions, which are consistent with the exclusions on most bank cards. As a result, if you use your credit card to pay for things like traffic fines, university tuition fees, topping up your YouTrip account, or monthly insurance payments, it will not count towards the minimum spend.

Who is eligible to use the UOB One Card?

If you’d rather not handle 9 different “specialty” cashback credit cards (one for online shopping, one for gas, one for grocery, and so on), you’ll love the convenience of this all-in-one cashback credit card. You know you’ll get some form of cash payment at the end of the quarter if you spend 5% on everything. The UOB One Card review will help if you spend in many categories yet don’t want to deal with different cards.

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