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MileLion

Daniel
Daniel
Level 3. Wonderkid
Updated on 03 Sep 2019
“Best miles card of 2019” depends very much on your spending pattern. This is because not all cards are created equal. Each has its own pros and cons. For example, do you do a lot of online shopping? (DBS Women World Mastercard, Citi Rewards) Do you travel overseas frequently? (UOB Visa Signature) Do you find yourself using PayWave often? (UOB Preferred Platinum Visa, UOB Visa Signature) Or do you mostly spend on dining out? (UOB Krisflyer, Maybank Horizon, HSBC Revolution) In terms of general spending miles card, currently, the highest mile per dollar (mpd) offered is 1.5 mpd (local) and 3.0 mpd (overseas) by BOC Elite Miles World Mastercard. The recently launched OCBC 90N has a promotional overseas spending rate at 4.0 mpd till the end of February 2020, you might want to take a look if you have an overseas trip soon. Lastly, don’t just look at the headline rates that the banks put up. Check about the benefits that banks offer (eg. Lounge access). Do a bit of research through reviews and terms & conditions of each card before you plan to sign up.

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Junus Eu
Junus Eu
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Top Contributor (Nov)

Level 9. God of Wisdom
Answered 4h ago
I started my financial journey before university, when I realized that I needed to pay my own university education, and I definitely did not want to take a loan. The top three things that were most pivotal: 1. Putting out on paper what my financial goals were, and the timeframe I had. With that, I backcalculated how much I needed to save one month, and from there, how much I needed to earn. 2. Needing to do that at a fairly young age also meant that I started thinking about time in market and compound interest early on 3. Because of the above, I got started on reading on stocks early, and opened things like brokerage account etc fairly early too. I started also hunting property 2 years before I bought my first one. The 3 things above, I believe, set my foundation in personal finance. It was very daunting in the early days, especially when there weren't platforms like Seedly, and it was rare to discuss personal finance with friends or family. Kudos to Seedly for making it more friendly, especially for the young ones!

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Grab

I’ve been a very active user of Grab, GrabPay and FavePay. I’ve calculated and it seems that Grab Vouchers has the most ROI. I calculated the following 1) $25 Grab Voucher = 8800 pts Have to spend $880. Means 2.84% rebate 2) $20 Grab Voucher = 7100 pts Have to spend $710. Means 2.82% rebate 3) $15 Grab Voucher = 5400 pts Have to spend $540. Means 2.78% rebate 4) $10 Grab Voucher = 3600 pts Have to spend $360. Means 2.78% rebate 5) $5 Grab Voucher = 1900 pts Have to spend $190. Means 2.63% rebate Based on $1 spent = you receive 10 Grab points

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Eveline Lau
Eveline Lau
Level 6. Master
Answered 3h ago
The best card would be UOB Lady's Card or if your income level is a bit higher, UOB Lady's Solitaire card, as long as you select "Beauty and Wellness" as the category that you want to enrol in. They both give you 4mpd. For cashback, UOB One card would be the best option if your spending is consistent on a monthly basis. If that large spending happens only on certain months of the year, you can consider HSBC Advance (2.5% cashback) if the spending is more than $2000, AME True Cashback or Standard Chartered Unlimited (both 1.5% cashback) if your spending is less $2000. If your aesthetic clinic allows contactless payment (i.e. payment) + allow you to split the payment into several cards, you may also want to consider charging $600 to DBS Live Fresh (5% cashback with a cap of $20) and charge the remaining sum to the abovementioned cashback credit cards.

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Junus Eu
Junus Eu
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Top Contributor (Nov)

Level 9. God of Wisdom
Answered 9h ago
Personally I don't, mainly because it's additional hassle for me to check for double counting. I can roughly gauge how much I spend each month, and just exercise overall prudence in my spending.

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Kim Heok S
Kim Heok S
Level 4. Prodigy
Answered 3d ago
The parents I see around me are receiving an allowance, but could live without it. It's probably an Asian culture thing that children are doing this.

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Albert Millardo
Albert Millardo
Level 3. Wonderkid
Answered on 05 Sep 2018
My card strategy for my wedding payment: 1. UOB One Card Ask if your wedding venue (most hotels should be okay), if they allow you to pay monthly up to your wedding day. If yes, then you can maximize by charging the card $2k for every month and that will give you 5% rebate. Note: UOB One Card requires 5 transactions per month to qualify for the rebate (just simply buy water at NTUC also can :p) AND please check your statement quarter as the rebate is calculated per quarter basis and missing one of the month in the quarter will disqualify the rebate. 2. DBS Debit Visa Paywave / Contactless (Beep Beep Kaching promo) This is good for small items that you might need for your wedding as this debit card can give you 10% rebate (promo til end of September) or 5% (normal rebate). Note: Minimum spending of $400 and maximum $50 rebate. Only transactions below $200 will be considered for the cash rebate, so if the amount is more than $200, ask the merchant if can split into several transactions. I've tried with my bridal studio and managed to split into 6-7 transactions for $2k bill so I can maximise both me and my fiance rebates :) 3. Amex True Cashback For everything else. New sign up will give you 3% rebate for the first 6months with maximum of $5k. So you can utilize this til you hit $5k. After 6 months or beyond $5k will only earn you 1.5%. 4. HSBC Advance Card For everything else. Spending above $2k will give you 2.5% which is 1% higher than Amex True normal rebate or StandChart Unlimited. The cashback is capped with total spending of $2800 though. So do not spend more than that, unless you have an Advance banking relationship with them. Then it's different story. 5. SC Unlimited Card For everything else after you hit all the above. This card will give you 1.5% rebate, similar to Amex True Cashback. However not all merchants accept Amex. So it's good to have this just in case. No cap on the cash rebate. 6. SC Manhattan Card This card is actually discontinued. However if you have this card then you can use this as it will give 3% cash rebate per quarter. I forgot the mechanics to maximise it so please check it online! Extra tips: Sign up credit cards from third party site such as: SingSaver, BankBazaar, MoneySmart, Finty, GoBear. All these sites will normally give you extra perks such as cash gift / capita vouchers / ntuc vouchers etc on top of the welcome gift from the bank by signing up through them. Compare the gifts given for each site and decide :).

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FIRE Movement

Pursue fulfilment in life. Find more hobbies and learn. I want to learn cooking, tea ceremony, visit more countries.

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Dawn Fiona
Dawn Fiona
Level 6. Master
Answered on 14 Aug 2018
Talk to your parents, set limits, and try to reach a compromise. I put my foot down on my parents inviting their colleagues - to me, the priority for guests was first direct family (no distant cousins whom I've not seen or hardly see, please), then friends and our colleagues, followed by my parents friends, then their colleagues. Some try the route of making their parents pay, but I don't think that's very nice la cos our parents don't earn a lot, so we didn't impose that. To each their own. We allocated a limited number per category outside of direct family. So if my parents wanted to invite more people, sure, but only if we have enough seats left. As it turned out, there was enough to go around for everyone in the end cos we opted for a caterer instead of a hotel banquet :)
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