UOB One just got a lot more useful by adding Shopee to its list of merchants that get additional 5% cashback.
UOB One’s basic cashback tiers:
|Monthly Spend||Quarterly Cashback||Cashback Yield¹|
New to bank
Receive S$50 cash credit when you apply and make a min. spend of S$500 within 30 days of card approval. Valid for the first 200 applicants. Valid till 31 Jan 2021
When you spend on select merchants, there is additional 5% cashback. UOB One has been updating this list from time to time, and this is the third time this year:
- Grab (except top-ups after 16th March 2020)
- Dairy Farm Singapore merchants (added 4th July 2020):
- Cold Storage
- Shopee (except ShopeePay) (added 1st November 2020)
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This means that the cashback yield on expenditure made at the above merchants go as high as 8.33% or 10% depending on the quarterly cashback tier you are at.
Given the range of items sold on Shopee, this makes UOB One significantly easier to use for cashback. If you can regularly spend a fixed amount every month on the above merchants, a 8.33 to 10% cashback rate is unbeatable. Just make sure you clock the right amount per month.
A consideration you should have is that Shopee does give some discount when you pay for things using ShopeePay, so do weigh your options to see which gives you the best bang for your buck when shopping on Shopee.
Read the full UOB One review.
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