Would you rather collect cashback or reward points?

Hi Anon,

Personally, I prefer collecting reward points! Because I'm young and don't spend a lot every month, if I were to collect cashback, I wouldn't be able to make use of high cashback cards like DBS Live Fresh or OCBC FRANK to earn 5%+ cashback. Instead, I'll be limited to unlimited cashback cards that earn only ~1.5% cashback, which is quite pitiful IMO.

The earn rate for reward points is often much higher if you can meet their spending criteria (ie contactless payment only/specific category spending) and there's no minimum monthly spending. These reward points can then be exchanged for miles or for cash vouchers at places you'll definitely spend money at anyway (ie dining, groceries). So reward points work out to be more worth it for me!

Regards,

thefrugalstudent

CASHBACK! Reward points are so limiting + troublesome to redeem. Rather get cash, then you can actually save the money.