Switch from UOB One to UOB Evol?

I have UOB One account. Given the recent decrease in cashback rate to 3.33% from 5%, I'm thinking of switching to UOB Evol as my primary credit card and apply for UOB One debit card for ATM use. However, I'm uncertain whether this would earn me more cashbacks. Does anyone have any advice?

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Ed Heng

07 Nov 2022

If we factor in the annual fees for the cards, One charges $192.6 annually and EVOL has no annual fee as long as you make 3 purchases each month. So if UOB decides not to waive One's annual fee, you will gain lesser than using EVOL.

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SW

04 Nov 2022

If you were previously benefiting at a 5% cashback from UOB One account, you were spending $2k a month consistently.

UOB EVOL card may not be ideal since the cashback is capped at $20 for mobile/contactless spend (8% cashback so max spend of $250), $20 for online spend (8% cashback so max spend of $250) and $20 for other spend (0.3% cashback so max spend of $6k plus), per month.

Even if you are getting the max cashback from EVOL which is $60 per month, the amount of cashback you get is still less than UOB One over 3 months, and you have to spend even more!

You may be better off seeing your expenses type (food or groceries or transport etc) and find other non-UOB cards to maximise your cashback. Otherwise you can explore miles/rewards card.

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