Saturday, 28 October 2017

Best CashBack Credit Cards (Bye Bye ANZ, Hello BOC and SMRT Citi)

With the recent take over of ANZ Singapore by DBS Bank, it means I have to restructure my credit cards portfolio. After thorough research and comparison, I decided to go with Bank of China Family Card and SMRT Citi Card for their cashback feature.

Having cashback is always better than having to go through the process of redeeming for rewards and nothing beats cash on hand. I will use my BOC family card more for  entertainment expenses (You could use this for groceries too) and SMRT Citi Card for grocery shopping (Redmart, NTUC Online and etc). On a side track, I find Redmart and NTUC Online pretty good. For Sheng Shiong (Coverage is limited) and Giant Online (Prices are not competitive), they still have some catching up to do.

My first choice for cashback card will be BOC Family Card followed by SMRT Citi Card if there is a chance you will exceed the monthly cash rebate of 100 dollars.

Since we are at credit cards, UOB One card would be good for those who want to earn decent interest for your savings. It is tagged to the UOB One Account whereby a monthly spend of 500 dollars will allow you to have a higher interest for up to 50k of your savings. However, you will need to clock 5 transactions in a month for the 500 dollars in order to get the 50 dollars cash rebate per quarter for the UOB One Card. You can find out more from the link below.

http://www.uob.com.sg/personal/save/chequeing/one-account.page


Here are some of the features of BOC Family Card and SMRT Cit Card:

BOC Family Card


The card that completes your family’s need!

Card Features
1. Cash Rebates
Enjoy  cash rebate of up to S$1,440 a year!
7%
  • Everyday Dining locally and overseas
5%
  • Online purchases
  • Supermarkets
  • Hospital bills
  • NETS FlashPay Auto Top Up (first 4 top-ups)
  • Selected Merchants:
    BEST Denki, BIG BOX, Unity Pharmacy, Watsons and Toys ‘R’ Us
1%
  • Telco Bills
0.5%
  • All other purchases
+2%
  • Supplementary Card spend on all other purchases

2. First year annual fee waiver
Enjoy first year annual fee waiver worth S$150 p.a. for principal card and S$75 p.a. for supplementary card
3. Eligibility
  • Principal applicant: Age 21 and above
  • Supplementary applicants: Age 18 and above
  • Annual income of S$30,000 and above. For foreigners, annual income of S$60,000.
Source: Bank of China Website

Do take note there is a minimum spend of 500 dollars in order to qualify for the rebate amount illustrated above. If it falls below 500 dollars, the rebate will drop to just 0.5%. Also, there is a cap of 30 dollars per month for online purchases.


Citibank SMRT Card

Citibank SMRT Card

Your savings keep adding up with the Citibank SMRT Card. Enjoy up to 5% savings* on your daily spend all year round. Plus, redeem your SMRT$ for SMRT rides, shopping vouchers or cash rebate. Apply now!
  • 5% savings* on groceries (7.3% for FairPrice Xtra Kallang Wave)
  • 5% savings* on fast food, movies and coffee
  • 3% savings* on online shopping
  • Redeem for cash rebate, vouchers or SMRT rides
  • No convenience fee charge for EZ-Reload Auto Top-up transactions
  • Source: Citibank Website

1 comment:

  1. This post is no longer valid as BOC came up with lots of new restrictions and increase their minimal spending to $700. Will be doing a new post of what i have moved on to....

    ReplyDelete

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