The UOB One card has been one of my favourite cards since it has been offering a constant rebate over the past few years, and it offers you rebates even when you are on monthly instalments. Its huge success is probably a reason why the exact same rebate structure was used by another bank last year. This time around, the rebate structure has been changed slightly and the rebates earned vary from 3.33-5%, but this is also because this card is tagged to the UOB ONE acccount, which offers pretty good interest rates if you fulfil the criteria. Let’s take a look at the credit card changes first:
With the new rebate structure, a minimum of $500 per month is required instead of $300 and the amount of rebate will similarly be increased to $50 (3.33% rebate). High-spending consumers who spend $2000 a month for the entire quarter will get 5% rebate ($300 rebate instead).
As mentioned previously, the credit card is now part of a package with the UOB One Acccount. Essentially it is a high interest account out to rival OCBC’s 360 and DBS’s Multiplier. To earn the bonus interest as stated above, you need to fulfil the first condition which is to spend $500 on your UOB One &/or UOB Direct Visa Debit Card. Then you either credit your salary monthly or pay 3 bills monthly via GIRO.
At first glance, the 2nd condition may be hard to attain. But think again! There are many bills that you can pay monthly through GIRO – all you need is to change banks that’s all!
For more information on the UOB One Account, check out the UOB website here