Buffed: UOB$ Merchants No Longer Excluded By UOB Cards, Gives Bonus Rewards Instead
Starting earlier this month from 1st November 2024 onwards, UOB$ merchants are no longer excluded by UOB credit cards. This allows UOB cardholders to earn both UOB$ as well as their usual cashback or miles with their UOB credit cards, which translates into an improvement in the value proposition of UOB credit cards.
What’re UOB$ merchants?
UOB$ merchants are retailers who have enrolled with UOB to offer UOB$ which is essentially cashback you can use at the same merchant during your next visit. While a UOB$ merchant sounds like somewhere you should use your UOB credit card, this was quite the opposite in the past. Counterintuitively, many UOB cards had been excluding UOB$ merchants from earning card rewards. Instead, using your UOB credit card at such places earned you only UOB$ which is often lower than one’s card rewards and can only be used at the same merchant.
This has been a source of annoyance for UOB cardholders who needed to actively avoid UOB$ merchants if they want rewards for their credit cards.
Rewards now stack!
After the recent change, however, UOB cardholders will no longer need to shun UOB$ merchants. Instead, UOB$ will now offer their UOB$ cashback on top of UOB credit card rewards. This can make UOB credit cards a very compelling choice for use at UOB$ merchants.
For instance, if you’re a frequent patron of Standing Sushi Bar or Tanuki Raw and thinking to use your HSBC Live+ for 8% cashback, it might be of interest to you that you earn 3% UOB$ cashback at such eateries on top of the 4 miles per dollar your UOB Preferred Platinum Visa or UOB Lady’s card would get you. That may tilt you towards using your UOB card instead.
While UOB has stated that the change applies to UNI$-earning cards (i.e. miles cards like UOB Preferred Platinum Visa, UOB Visa Signature etc.), UOB EVOL will also earn its cashback rate on top of UOB$ cashback. UOB One, as far as I know, has always given its rewards with UOB$ merchants and this remains unchanged.
You can check out the list of UOB$ merchants here.
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This is all around good news for UOB credit cardholders who would no longer need to worry whether the shop they’re at is a UOB$ merchant. Instead, it is now good news when dining or shopping at one of the over 950 locations that support UOB$ because this means extra rewards on top of UOB card rewards.
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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