✅In this video, I will review the UOB Absolute Cashback card with a strategy to help you get up to 2.9% on almost everything!
If you have watched my earlier video on Best No-minimum Spend cashback credit cards, that video was filmed before the Absolute Card was announced in May 2021 so it was not included in that review.
And during the last segment I gave a teaser on UOB Absolute Card, so here is the full review!
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BEST Singapore Cashback Credit Cards with NO MINIMUM SPEND Review 2021
00:47 Card Facts:
– Entry level credit card with annual income S$30,000 or S$10,000 fixed deposit
– UOB and AMEX Co-brand card, 15 digit AMEX card number (limited merchants)
– 1.7% Limitless cashback (Get back $17 for every $1000 spend)
– No Minimum Spend requirements
– No Spend exclusions
01:29 How to Use UOB Absolute better?
– Don’t use on normal categories which already earn rewards like food delivery, online shopping, supermarket, etc
– Use on categories where cashback or rewards are usually excluded e.g.
– Education (School fees), Healthcare (Medical Bills), Insurance (Premiums)
– Most importantly Wallet top-ups (Grab), so Top up Grabpay, then use Grabpay MasterCard, effectively transferring your spending to Mastercard accepted merchants instead of limited AMEX merchants
– In my previous video, I mentioned AMEX True Cashback was my preferred card because it gives 1.5% Cashback on Grab wallet top-up
– Now you have UOB Absolute which gives 1.7% Cashback on Grab, which is 0.2% more
– Coupled with Grab Platinum status of 6 reward points per dollar or 1.2% Cashback, your total Cashback becomes 2.9%! (vs AMEX TCB 2.7%)
– Win all other no minimum spend credit cards like Maybank Barcelona and Citi Cashback+
– 6 months complimentary FoundersCard membership (toned down)
– Gives Elite hotel status like Hilton Honors Gold (which give complimentary breakfast for 2)
– Not unique to UOB Absolute, you can also try with UOB PRVI Miles AMEX, DBS Altitude AMEX
For NEW-TO-UOB (not a UOB cardholder for previous 12 months), 5% Cashback on first $3000 spend if you apply by 31 July 2021
04:20 Using UOB Absolute with Grab and Revolut
– If you have stayed this far, I will teach you another hack to get 21.7% Cashback on Public transport rides using this card
– Revolut is a Fintech mobile wallet app that allows you to remit money to overseas bank accounts at low cost
– I have been using to help my fiancé remit funds back to her family in Malaysia, really competitive rates
– Important thing: Revolut is now running a 20% cashback on Public Transport spend via SimplyGo
– Basically using your Revolut card and tap on Bus/MRT card readers (mobile payments work as well) and get 20% cashback!
– So if you Use UOB Absolute (1.7% cashback) to Grabpay wallet (no points for prepaid wallets), to Revolut (20% cachback), you get back $10.35 for every $50 spent on SimplyGo Transport expenses!
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06:24 Wrapping Up
If you are looking for a no frills, no requirements cashback credit card, the UOB Absolute Cashback card is a clear winner!
– Better than AMEX True cashback for higher cashback percent
– Coupled with Grabpay wallet is an ultimate winner
– Make hay while the sun shines as exclusions expected when more users hop on to this bandwagon
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