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Hi everyone. Tried my best to read MileLion but still quite lost.
Context: Getting married soon. Total wedding expenses ~$40,000. Bulk of it is from the hotel banquet -- split into 3 tranches: $5000 deposit + 50% + 50%.
I am a very small spender. Currently the only CC I have is the UOB One cashback card which I spend $500/month on to get the interest from UOB One savings account.
Many friends have advised me to earn miles from my wedding expenses. However, my concern is that as a small spender, I fear that my miles card will not be optimised after all the wedding hoo-hah is over. For transparency, right now I am only getting about $100/quarter from my cashback card. I fear that for miles, it might be even worse if I use my card as a general daily expenses card.
Some questions from me:
(1) Should I apply for a non-UOB miles card to earn the welcome gifts? My concern is that it is hard to juggle between 2 banks, especially since I am a small spender to begin with.
(2) If I stick to UOB, should I just replace my cashback card with a miles card that is eligible for the UOB One savings account? To my knowledge, the only miles card eligible would be the UOB Lady's card. My concern is that it will be unoptimised if I were to use it as a general expenses card.
Would greatly appreciate your help ;)
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Tony
02 Oct 2024
Computer Engineering at Nanyang Technological university
Miles or cashback is very much depends on your lifestyle. Do you travel frequently? if not cashback is still better especially you can get better interest rate for savings account.
if getting more CC make you stress, then may be not! You can apply for one later on when your lifestyle changes, may be the perks will be even better then..
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Hello, i think if your spendings are low after the wedding then it might be hard to gather miles afterwards. so i would say stick to cashback card might be a better option for you. focusing on 1 card is better than 2 cards. maybe you can consider applying for 1 mile card to earn the rewards then cancel it. you can consider the cards for earning miles here