Credit card to grab to fave: Triple dipping - pros and cons? - Seedly
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DBS Altitude Visa Signature Card

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Asked by Anonymous

Asked 3w ago

Credit card to grab to fave: Triple dipping - pros and cons?

Just read about triple dipping - use credit card (can anyone verify if DBS altitude visa recognize this?) to top up grabpay, and grabpay to top up fave pay.

So paying by fave pay earns us cashback, which in turn earns us grabpoints on grabpay, and in turn earns us miles on DBS altitude. Sounds like maximizing all benefits, provided merchant accepts fave pay.

Is there any pro vs cons analysis? Say paying grab using Altitude gains you 4 mpd compared with topping up grabpay earns you 1.2 mpd only

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Technically, quadruple dipping is possible, e.g. you spend at a CapitaMall, earning STAR$ under their programme (bonus 50% with a passion card linked to your STAR$), cashback on Fave, grabpoints on grabpay, which you topped up with an eligible card, earning 4mpd.

The DBS promo grants you 4 mpd for Grab and gojek until 31 Dec 19, capped at S$1,200 for the entire period. Registration is required. Grabpay is not explicitly mentioned so it would be better to call in to check. Supposedly Citi Rewards Visa users are getting 4 mpd on this. Or, the Amex KF cards if you really want to be sure of getting the extra mpd.

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Pang Zhe Liang
Pang Zhe Liang

3w ago

There is nothing wrong in insisting for an answer for what we feel is right from a consumer's perspective. However, we must understand the matter from a macro point of view, especially from the bank's perspective - whether they are earning or losing money. If it is the latter, what will they do in the long run? Therefore, there is no need to catalyse the process for the right reason from their side and wrong reason from our side. =) (P.S. Such incidents happened too many things in the past and recently.)
Elijah Lee
Elijah Lee

3w ago

Hi Zhe Liang, fair point well made. My understanding is that the cards are merely a way of customer acquisition for future revenue streams, it's not intended to be a revenue generator for the banks (disregarding late interest payments and the like here). True revenue is probably derived from wealth management, interest income from loans, etc. Agree that benefits have been, in some instances, really driven down as it was loss making, but if a bank is prudent in designing the card features and bonuses, they should be able to cap their downside exposure (Citi Rewards Apple Pay anyone?). Naturally, we saw a few instances where spending was so front loaded on that promo that Citi had to make tweaks in the midst of the promotion. So while I definitely don't wish to catalyse the process, I do feel that the banks need to be clear on what's what so that we consumers can have a reason to do business with them (and by extension, a way for us to contact the bank to confirm what's applicable and what's not). Any bank that hides behind a cloak of murky T&Cs and Russian Roulette styled promotions is just inviting less business.

For DBS Altitude card where it is giving 4 miles per dollar, there is no concrete way to verify on the transaction (Grab) until after the end of the promotion, which is 31 Dec 2019.

Side Note: Try to avoid calling the customer service staff to check on such matters.

As always for all spending on credit cards, ensure that you are spending money that you have, not on future money. For example, if I only have $1k in my bank, I will not swipe $2k on my credit card. This is a dangerous move and can cripple your finances easily, alongside with your credit score (long-term implications are huge).

Fave + Grab + credit card is a good combinaton to stack the cashback, points, as well as whatever perks your card is giving you.

There are many ways that you can maximise miles (or cashback). It depends on how in-depth you are into it. šŸ˜‰

Here is everything about me and what I do best.

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Question Poster

3w ago

Thanks Zhe Liang, I'm having issues verifying the 4 mpd too. But great to hear that we'll only be able to see if after 31 December. And yes, I'm pretty prudent with my spending as well. So trying to reap whatever benefit from my (really minute) spending. Haha that wasn't have a minimum spend cap on it. Seems like fave and grab are both compatible. Would you be able to confirm that Altitude and grabpay stacks well?
Pang Zhe Liang
Pang Zhe Liang

3w ago

You are most welcome! I am always interested in consumer finance and happy to share what I know. šŸ˜€ No issue so far. In most cases, top up via unsaved card, i.e. key in all details manually whenever you top up.
J
Jacob
Level 5. Genius
Answered 6d ago

This is not so much an analysis of triple dipping, but more of alternatives of DBS Altitude to top up GrabPay. You could also consider AMEX Krisflyer (3.1 mpd) and Citi Rewards (4mpd) to conduct the triple dip.

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VC
Vicki Chng
Level 5. Genius
Answered 2w ago

To be frank, I don't see any cons. Perhaps the only con I can see is that the favepay cashback might go to waste if you only go to that store once and it expires, but it's one of those good to have kind of thing

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Choon Yuan Chan
Choon Yuan Chan
Level 8. Wizard
Answered 2w ago

Use UOB one Card to maximise the triple dipping effect because you get 5% top up on grab transactions.

The other triple dipping is Credit Card- Fave- SIngtel Dash (via AXS Mobile payment) for grocery use

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Aik Kai
Aik Kai
Level 7. Grand Master
Answered 2w ago

Just want to answer your first sub question -- Yes DBS recognise topping up grab as a valid transaction and will award 1.2mpd.

With regard to pro and con analysis, the pro is you triple dip. Miles+Casback+Grab Rewards Points is a combo hard to ignore.

Con wise.. I can't think of any although I think you should use other cards to top up Grab, like Citi Rewards and Maybank Horizon VS.

Cheers

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