UOB YOLO Card

Find out how a Cashback credit card works, and the difference between Cashbacks and cash rebates.

UOB YOLO Card Benefits and Key Features

As its name suggests, the UOB YOLO is great for the young and carefree. With UOB YOLO, enjoy up to 8% cashback on Dining, Grab, Entertainment and UOB Travel Spend on weekends. For weekdays, the same category of transactions will receive cashback at 3% instead. Also, for avid online shoppers, enjoy 3% cashback on Online Fashion and Online Travel Spend. To enjoy these extra cashback on top of the base rate of 0.3%, there is a minimum required spend of S$600 per statement month. It is also important to note that cashback, on top of the base rate, is capped at S$60 per month.

For new UOB YOLO applicants, get to receive up to 10% Cashback on Online Spend (excluding Online Fashion and Travel Spend).

For UOB One Savings Account holders, stand to earn up to 3.68% p.a. when you spend with your UOB YOLO Card.

These are some features of the UOB YOLO Card and the Cashback benefits it has to offer.

Eligibility for UOB YOLO Card

To be eligible for the UOB YOLO Card, you'll have to meet the following criteria:

• Be at least 21 years old
• Minimum Annual Income of S$30,000 and above per annum for Singaporeans and PR
  OR Fixed Deposit collateral of at least S$10,000
• Minimum Annual Income of S$40,000 and above per annum for foreigner
  OR Fixed Deposit collateral of at least S$10,000

Fees and Charges for UOB YOLO Card

• Annual Principle Fee: $192.60 (Fee waived for first year)
• Annual Supplementary Card fee: First card is Free, Second onwards is $96.30
• Fee waiver: First year fee waiver
• Interest-Free Period: 21 days
• Annual Interest Rate: 25.90%
• Minimum monthly payment: 3% or $50, whichever is higher
• Late payment charge: $90
• Cash advance fee: 6%
• Overlimit fee: $40

UOB YOLO Card Promotions

As a welcome offer, get up to S$230 + Bonus 10% Cashback on Online Spend.

1. $150 cash credit - for the first 800 new-to-UOB Cardmembers who successfully apply for a UOB Credit Card online from 1 March to 30 June 2020 and spend a minimum of S$1,500 within 30 days from the approval date of the Credit Card
2. $80 cash credit - for the first 200 new-to-UOB Deposits customers who successfully apply for a UOB Uniplus account, UOB Stash account and/or UOB One account online from 1 to 31 May 2020, deposits at least S$5,000 in fresh funds into their new UOB account before 31 May 2020 once application is approved and maintains such fresh funds in their new UOB account till 31 Dec 2020.
3. Bonus 10% Cashback on Online Spend - for new UOB YOLO cards approved from 16 Mar to 30 Jun 2020, who spend a minimum of S$600 within the first 30 days of your card approval date. (Cashback is capped at S$40)

The Best Credit Cards of 2020 Review: Is UOB YOLO Card good?

Pros

• Generous cashback of up to 8% for categories of Dining, Grab and Entertainment; great for individuals who enjoy these activities
• There is also a 3-5% cashback on Online Spend which is ideal for those who prefer online shopping
• An ideal starter credit card for the out-going working adult, with little to no financial commitments. UOB YOLO offers rewards in activities that they frequent like dining out, entertainment, and online shopping. The relatively manageable minimum income requirement also makes UOB YOLO more accessible to those who've just started their jobs.

Cons

• As shown in the table above, there are distinctions between weekday and weekend cashback rates; hence, might be additional work to keep track of.
• Not for the thriftier spenders as there is a minimum spend requirement of S$600 to qualify for the attractive cashback rates
• Not for those looking to get rewards on essentials like Groceries, or Public Transport
• Low S$60 cashback cap per statement month. Assuming that the UOB YOLO cardholder leads a less penny-pinching lifestyle, one might easily hit this cap and the money-back might not be much in the grand scheme of his/her monthly spendings.

Still unsure? Find out everything you need about credit cards - including what the Best Credit Cards in Singapore are for miles and Cashback, factors to consider before getting one, fees to know, and why a good credit score matters.

You can also pose questions (anonymously, if you'd prefer) on the Seedly Community Q&A platform.

Terms and Conditions of UOB YOLO Credit Card

• Minimum spend amount of $600 a month
• Cashback capped at $60 a month
• Up to S$180 comprises of i) S$100 Cash Credit when you apply for a new Credit Card ii) S$80 Cash Credit when you open a UOB One Account. i) S$100 cash credit when you apply online for a new Credit Card from 1 Nov – 31 Dec 19
• UOB defines weekend as 0000 Hour on Saturday to 2359 Hour on Sunday

UOB YOLO Credit Card Cashback will not be award on:

• Payments made to charitable/religious organisations
• Payments government institutions and services
• Cash advancements
• Any late payment charges or interests charges on any Card
• Any fees payable to the bank
• For the full list of exclusions, refer to UOB YOLO Credit Card's full Terms & Conditions on its website

How to Apply for UOB YOLO Card

With the necessary documents of NRIC or Passports, you can

• Apply Online or
• Visit UOB Branches

About UOB

United Overseas Bank (UOB) was incorporated in 6th August 1935 as the United Chinese Bank. Through a series of acquisitions, it is now a leading bank in Asia. Besides Far Eastern Bank in Singapore, UOB’s major banking subsidiaries in the region are United Overseas Bank (Malaysia), United Overseas Bank (Thai), PT Bank UOB Indonesia and United Overseas Bank (China). UOB Group currently has a network of over 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America.