I'm currently a 22 y/o NSF who is utilising the Maybank eVibes credit card to get 1% cash rebate. Should I get a secured credit card by placing a Fixed Deposit of $10,000? - Seedly
 

Credit Card

UOB One

Standard Chartered Unlimited Cashback Credit Card

Asked by Anonymous

Asked on 04 Nov 2019

I'm currently a 22 y/o NSF who is utilising the Maybank eVibes credit card to get 1% cash rebate. Should I get a secured credit card by placing a Fixed Deposit of $10,000?

I spend about $600 per month and have to top up the credit card before the bill is here. Thinking of going for UOB One or SCB Unlimited Card. Any advice?

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UOB One's general rebate is really hard to fully take advantage of - for the headline "up to 5% on everything" - the key part is UP TO you need to get exactly $2k per month for 3 months to get the 5%. Any less and you get lower tiers (3.3% or worse), even any higher you won't get more cashback so starts to effectively be lower than 5%.

Given your spend amount - you could qualify for lowest tier and if you are confident that you could put through $500 per month consistently then maybe worth considering otherwise I would give it a pass.

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