UOB Absolute Cashback Card Review – Up to 2.9% LIMITLESS Cashback on ALMOST Everything?

By | June 7, 2021

UOB Absolute Cashback Card Review

UOB Absolute Cashback

Introduction

In this article, I will talk about the UOB absolute cashback card with a strategy to help you get 2.9 percent cash back on almost everything. So now, it wasn’t included in that review so now I want to take a second chance to review this UOB cashback credit card and help you analyze the full strategy. We are all about building financial knowledge teach money-saving hacks, and also help you lead a fulfilling quality of life.

Card Facts:

Let’s start with some facts about the UOB absolute cashback card now. This is an entry-level credit card which means that you need an annual income of 30 000 or have a fixed deposit with a UOB of 10 000 Singapore dollars to be eligible to apply for this card and then it is a UOB with AMEX co-branded card. So you will have a 15 digit credit card number issued by AMEX which also means that there are limited merchants because there are not a lot of merchants accepting AMEX as their cap payments. This card also gives you 1.7 limitless cashback which means getting 17 dollars back on every 1 000 spent and this card is advertised as no minimum spend and no exclusions.

How to Use UOB Absolute better?

So moving on to my second point how to use the UOB absolute card better. The idea is not to use this absolute cashback card on categories that already earn sufficient rewards example like food delivery online shopping and supermarket or even restaurants spending all these you can earn good cashback on other types of cards. So you want to use it on merchant categories where such pens are usually excluded from cashback or rewards. Examples are your education spend where you pay for your tuition fees healthcare merchants like hospitals and clinics where you pay your medical bills and insurance companies when you pay your monthly or your annual premiums. All these categories usually are not eligible for cashback or rewards in other cards.

Most importantly you want to be able to use this card on your grab pay wallet top part the reason is that you can use this card to top up your grab bay credit cards which is a MasterCard that is more accepted by a wider variety of merchants and that means you have effectively transformed your AMEX card into a MasterCard. If you remember in my earlier articles, one of my best-recommended cards is actually the AMEX true cashback card and the reason is that it gives 1.5 percent cashback on your grab pay wallet top-up and now that you have the UOB absolute cashback card that gives you 1.7 percent which is 0.2 more than the 1.5 percent given by AMEX through cashback it is effectively a better card than the AMEX through cashback and you will win in all ways.

So if you have grabbed platinum status you’ll earn six reward points per dollar which are effective at 1.2 per cent cashback. So your total back is 1.7 per cent from UOB absolute card at 1.2 per cent from grabbing pay wallet which means you have a total effective cashback of 2.9 versus the earlier Amex true cashback of 2.7. This would also mean it wins all other no minimum spend credit cards like your Maybank Barcelona at 1.6 and likewise your city cashback plus card.

One other benefit of this UOB absolute cashback card is that you are given six months complimentary membership of the founder’s card. Which is a membership that gives you complimentary elite status such as Hilton honours gold that can allow you to get complimentary breakfast for two guests. When you stay at a Hilton hotel property but this benefit is not unique to UOB absolute you can also try it with your DBS Altitude and your UOB PRVI miles Amex.

If you are new to a UOB credit card which means that you have not held a UOB credit card for the past 12 months. You will get 5% back on your first three thousand dollars spent if you apply by the 31st of July 2021. So that is effectively 150 dollars for three thousand dollars and if I were you I would just top up the three thousand dollars into my grab pay wallet. So that I can then think of how to use the wallet balance because no other cards actually give that many rewards for grab pay wallet pop-ups.

Using UOB Absolute Cashback Credit Card with Grab and Revolut

If you have stayed till this far I want to teach you another strategy that you can use to get up to 21.7% cashback if you use it for simply going public transport. So this is a combination of the grab app and the Revolut app Revolut is a fintech mobile wallet app that allows you to transfer foreign currencies to foreign bank accounts and at the same time, it gives you a prepaid debit card.

So I have been using Revolut for a few years now to help my fiance transfer or remit funds back to her family in Malaysia and I must say that their exchange rates are really competitive the more important thing now is that Revolut is running a campaign where you can get 20% cashback on your public transport rides. You just have to use your Revolut card or save your Revolut card in your mobile wallets such as Google pay or apple pay then tap on the bus or MRT card readers so that it can record as a simple transaction and the max cashback you can get is $10. If you spend a maximum of 50 dollars per month you get $10 back on your transport rides alone so 20% cashback sounds really awesome right.

So what if you combine it with the UOB absolute card if you remember in my earlier segment I asked you to use the UOB absolute card to top up to grab that gives you one point seven percent cash back. Then use your grab pay wallet balance via the grab pay MasterCard and then use it to top up your Revolut account then effectively. You can use your Revolut account to pay for your simply going. So, all in all, you will get back 21.7 percent and this is the amount you can get if you spend fifty dollars per month on simply go public transport transactions and you know what’s the other good thing now Revolut is offering fifty dollars for all new sign-ups during this promotion period. So if you have a referral code from your friend you can use theirs and get 50 right here in your Revolut account.

Wrapping Up

So wrapping up if you are looking for a no-frills no minimum spend cashback credit card. I believe the UOB absolute cashback card is a clear winner of the credit card was it is better than Amex through cashback because he had 0.2% more than it in terms of cashback percentage and coupled with grab pay wallet is an absolute winner. It allows you to get cashback by topping up your pay wallet but one thing to keep in mind is to make hay while the sun shines. I believe exclusions are going to come by in the next few years when more people adopt the use of this card so you want to be the first few early adopters of this card before the rest jump on the bandwagon alright.

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