SG Budget Babe
Asked on 21 Nov 2019
Any recommendations? Pros and cons?
It depends on your expenses and spending habit.
In general, you may consider UOB One card. If you spend exactly $500 or $1,000 a month for a consecutive billing quarter, you will receive 3% cashback, which is equivalent to $200 (or $400 respectively) per year. If you spend exactly $2,000 a month for a consecutive billing quarter, you will receive 5% cashback, which is equivalent to $1,200 a year.
This can be considered an utility card which works for almost all expenses (read terms for list of exclusions).
Here is everything about me and what I do best.
I reckon it's either UOB One card, or the HSBC advance card (having the HSBC adv account with a simple hack trick) will do the job to earn decent cashback.
For UOB One, it's the standard 3.33% for consecutive spending of S$500 per month for 3 months, whereas for HSBC Advance, it's 2.5% or 3.5% (for spending above $2000 each month) given if one applies the simple hack that I mentioned.
The legit hack for HSBC advance is to have a HSBC adv account (with the criteria of monthly recurring deposit of S$3,500).
Depends on your need! But for a card that allows general spend cash back, it's the Amex cash back card
As the other 2 wise people have feedback: It depends on your expenses and spending habit.
As of now, the best cashback card in my view is UOB One card (which I am using). This is because of the 3.33% cashback rebate across most categories of expenditure (except direct bill payment). The criteria is that you need to spend $500 monthly across a 3 month period. This means expenditure planning is required on your part. That said for me this is easy because if i ever need to hit the $500 threshold, I just top it up into Grabpay which qualifies as a transaction.
And best part is that Grab transactions qualifies for additional 5% which gives it an upsized 8.33% rebate!
Depends on your expenditure, consistency of that spending, and what do you spend on.
If you're banking with UOB One, UOB One card is the best option. If you're banking with DBS, Live Fresh and POSB Everyday are the best options. If you're banking with OCBC, 365 card is probably the best option.
If you spend most of your money on groceries only, POSB Everyday card and Citibank SMRT card may be the best options. Choose the one where you can meet the minimum spending.
If you spend most of your money on online shopping and contactless payment (i.e. paywave, SimplyGo), DBS Live Fresh might make the most sense. Min. spending $600 per month.
If you consistently spend $500, $1000 or $2000 per month, UOB One would be the best option. Why consistently? Because the cashback is on quarterly basis.
If your spending is inconsistent (sometimes high, sometimes near zero), you might be want to opt for more fuss-free kind. But this also means if your cashback may not be as attractive. With no minimum spending - AMEX True Cashback, Standard Chartered Unlimited, HSBC Advance. These cards give you 1.5% cashback. If you happen to spend $2000 for that month, HSBC Advance gives you an additional 1%. If you happen to be banking with HSBC using Advance account, you get an additional 1% as well.