SG Budget Babe
Asked on 26 Nov 2019
Favepay, grabpay, samsung pay, paywave, nets? Any others? Cash is King but not really too right?
Here's my ranking:
Favepay linked to Credit card for interest with savings account + Grab linked. Additionally, they used to have better cashbacks, but now its a $1 cashback with 10x $3 transactions
If the place doesn't offer FavePay, then GrabPay
NETS and Cash tie in 3rd place
Favepay linked with Grabpay, and Grabpay top up with a CC! Triple dipping they call it!
There are cases where I didn't bring my wallet out and I didn't even notice at all hahaha
Favepay linked to credit card
Grabpay for grabpoints
then other credit cards. :D
if no credit cards - nets
really hate cash. too troublesome.
For me, will be:
Credit card (paywave) for it's miles or cashback + interest with savings account
GrabPay (most universal)
FavePay (if I go back to that outlet alot)
NETS (only if I have to)
That's my ranking!
FavePay, GrabPay, Paywave then nets.
Simply because FavePay earns cashback on top of grab points. GrabPay pays you miles/cashback on top of the points. And paywave if the previous 2 isn't available
Physical cash is no longer king but DIGITAL cash certainly is, haha!
Favepay linked with Grabpay wallet
UOB + Grabpay
Credit card (regardless of your cashback / miles camp)
I hardly use cash anymore haha.
My favourite is to triple dip Favepay + Grab + Credit Card rebates. I really try my best not to use cash at all. There are no returns to that!
1) Grabpay (thanks to UOB One card)- 5% basic rebate
2) Singtel Dash (for Online purchase and grocery- funded by Grabpay) - 5% basic rebate
3) Favepay- for food outlets not covered by grabpay etc (Funded by grabpay) - 5% basic rebate
4) Paywave- 2% rebate with Stanchart Singpost card
Shopback / Shopback GO
Cash (really last resort)
The first three are linked to my credit card so it's earning miles for every transaction too so it's double and even triple-dipping for the 1st option as I link my Fave to my Grabpay and finally to my card.
This is a bit painful because I miss the OCBC 10x paywave offer (heart-pain) and that would have made things much simpler.
However, my order is:
Favepay Grabpay Paywave physical card.
I really cringe seeing people use cash where there is a valid option for card to be used. EVEN if you earn no points, just use card to increase convinience. Just my 2 cents
Grabpay (powered by UOB One)
I haven't really got onto FavePay because the cashback are locked to the same merchant. I don't really go back to the same merchant so it doesn't make much difference to me. But at the same time, I probably should start on it since I have nothing to lose from it. I would want to fuel FavePay using GrabPay.
My number one choice will always be fave pay if there is any since my fave is link to my grab pay and my grab is link to my cashback credit card. (tip: when you are out for meal with big group of friends, volunteer to pay first. pretty sure you can earn more points)
I'm a huge advocate for the Grabpay ecosystem for the following reasons:
1. Locking in your credit card rewards
Topping up of Grabpay balance using your credit card might be a good way to lock in minimum card spending for a given month/quarter to secure your cashback/rewards offered by your bank. This money is technically not spent yet but simply transferred to an e-wallet. This way, you can technically earn your credit card rewards in advance. Do check on qualified spending categories as Grab spending may not qualify for certain benefits.
2. Favepay X Grabpay
If you've used Favepay before, you should know by now that the payment method can be set to Grabpay. You not only earn Favepay cashback but also get points for GrabRewards. When presented with an opportunity to use Favepay or Grabpay, always use Favepay.
3. Transferability of Grabpay balance(for Grabpay Mastercard users only)
If you've used e-wallets(e.g Singtel Dash) or multi-currency cards(e.g Revolut, Youtrip), you can actually transfer your Grabpay balance to these accounts for spending via Visa/Mastercard.
Favepay/Grabpay topped up with credit card
Paywave using credit card
DBS Paylah for hawker stalls with the QR codes
These are my personal favourites because of their rewards/convenience/availability!
Use credit cards whenever possible else you are leaving the rewards (miles/cash back) on the table. Of course spend within your means and pay your bills in full.
for me, in general it would be:
favepay / grabpay funded by Citibank rewards
Paywave using UOB preferred platinum visa
Ocbc titanium rewards or Citibank rewards for selected qualifying shopping
If not able to utilise above:
For more than $30, uob prvi mastercard
Less than $30, Citi premiermiles or DBS altitude
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