It’s the season for giving again! While shoppers are out thronging the malls during this festive season, there is a growing population sitting at home and shipping things to their home via the click of a mouse. And nothing is more enticing than the rebates or accelerated points that you get with online shopping! The previous post here is clearly outdated due to new cards in the market and some change in the T&C for some.
The “best” one may be HSBC with its 10% cash rebate but if you do your sums, spending $300/month online with a cap of $100 of rebate per quarter means a rebate of 8.33% at best, not to mention they are very strict with the per monthly rule! My top 3 picks are as follows:
1. OCBC Frank card – A good 6% rebate on anything online, so long as you spend a minimum of $500, but anything more than $1000 will only earn you 0.5% rebate.
2. Bank of China Shop! Card – A relatively unknown card, but they offer a good rebate of 5.5% so long as you spend $100 per month. However, do note the rebate is for the first $1000 so don’t spend too much excessively! Amount spending after that is actually 1% rebate.
3. UOB Preferred Platinum Visa – The rate of return is pretty good, you can calculate a better % in terms of rebate for certain vouchers if you look hard enough. One thing to note is that the points are given every $5, so anything with a $4.99 will be rounded down and no UNI$ given.
Generally, I try to avoid those cards that require you to maintain a minimum per month per quarter. That means you need to monitor for 4 months at a row and sometimes one may be busy and forget to chalk up that amount. Not to mention you may not buy things online every month so the actual rebate may be even less. What’s your secret card for online shopping? Any comments are welcomed.