My Credit Card Strategy For 2023

Now that it’s done and over, we can safely say that 2022 wasn’t a great year for cashback cards. Popular cashback card OCBC FRANK was nerfed to near-uselessness, once-great cashback card UOB One also received multiple cuts, and GrabPay of course has been gutted and continues to see nerfs even as recent as this week.

In my opinion, miles are becoming increasingly relevant again as we head into a post-Covid world for travel. Tourism seems to be as close to what we remember it to be pre-pandemic, and I’m looking forward to more travels this year.

It is hence time to update my card strategy for the new year.

Strategy: team value

People familiar with my site/YouTube will know that I’m a proud member of Team Value who picks whichever card that gives better value rather than just sticking with cashback or miles. This strategy continues this year, and I will often pick the larger number when it comes to deciding between cashback or miles.

For instance, in a toss-up between 6% cashback and 4 miles per dollar, the 6% cashback card is going to win. Lower the cashback to around 3% and the 4 miles per dollar card would now win. This is based on my personal valuation that each mile is worth around 1 to 1.25 cents each.

Seth
Seth

🔥 Get S$350 or other pricey gifts when you sign up for HSBC credit cards!

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Primary card

My primary card remains the UOB EVOL which gives an effective cashback rate of 6.67% for spends on Paywave or online transactions. This earn rate is very difficult to turn down, especially given the relatively easy conditions. It is even an eligible card for the UOB One account, and this combination is hard to beat if you want high cashback on your spend and good interest rates for your savings.

UOB EVOL

🔥 👍🏼

Get Apple Watch SE 2nd Gen worth S$382* when you sign up now!

Be the first 50 new-to-UOB Credit Cardmembers in the month to sign up and meet a min. monthly spend of S$800 within the first 2 months. 

All you need to do is to register for this promotion via an SMS to 77862 before 30 Jun 2023: SMS EVOLGIFT‹space› last 4 alpha-numeric characters of NRIC/passport (eg. EVOLGIFT 123A)

What’s more, enjoy up to S$140 cash credit# when you apply for a UOB One Account.
T&Cs apply.

Terms and conditions

Get 6.67% effective cashback on $600 of spend each month!

I have considered the Maybank Family and Friends which gives an excellent 8% cashback rate on selected categories, but it is a little bit more work for me compared to UOB EVOL’s conditions, so I’m sticking with my primary card for now.

Card for groceries

While it is a primary area of spend, grocery spends are best placed on the Citi Cash Back Card which gives 8% cashback. It also gives its high 8% rate on petrol, and 6% on dining, but the card is particularly easy for groceries since you can just make the minimum spend of S$800 on vouchers. I recommend going S$875 or S$1,000 of spend a month due to the way Citi credits cashback for this card (read the review for more details).

If you choose Maybank Family and Friends card as your primary card, it could also subsume the grocery spend portion.

Citi Cash Back

Please note there are two different promos and select carefully:

🔥 👍🏼

Citi Promo:

  • Citi PremierMiles: 30,000 miles
  • Citi Prestige: 177,500 points and more
  • Citi Rewards: 40,000 points + S$50 FRx gift card
  • Citi Cash Back: S$300 cashback
  • Citi SMRT: S$300 cashback
  • Tap here to see Citi promos

Until 31st January 2024


SingSaver Promo

  • Dyson Supersonic™ hair dryer (worth S$699)
  • Dyson V8 Slim Fluffy (worth S$509) or
  • Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) 
  • S$300 cash via PayNow

Last date to apply: 14th December 2023.

⚠️ Fill up SingSaver rewards form in email to choose your gift. No form completed = no reward given

Terms and Conditions. Click here

Sign-up Process

  1. Apply with the link
  2. Important: find SingSaver email and fill in redemption form after application; no form no reward
  3. Promo code field can be left blank
  4. Fulfil requirements as stated in terms and conditions

Credit card terms and conditions
Banking account terms and conditions
Priority banking terms and conditions

Get 8% cashback on groceries and petrol, as well as 6% on dining! Read the review here

Secondary card for excess spending

On some months where my spending exceeds the maximum cashback limits of the UOB EVOL, I turn to 4 miles per dollar cards to soak up such excess expenditure.

The cards available are UOB Preferred Platinum, HSBC Revolution, or Citi Rewards paired with Instarem Amaze card. They all have some quirks and things to look out for (which I’ll cover in a separate piece), but each works generally well with both Paywave or online transactions with no minimum spend to worry about.

Citi Rewards

Please note there are two different promos and select carefully:

🔥 👍🏼

Citi Promo:

  • Citi PremierMiles: 30,000 miles
  • Citi Prestige: 177,500 points and more
  • Citi Rewards: 40,000 points + S$50 FRx gift card
  • Citi Cash Back: S$300 cashback
  • Citi SMRT: S$300 cashback
  • Tap here to see Citi promos

Until 31st January 2024


SingSaver Promo

  • Dyson Supersonic™ hair dryer (worth S$699)
  • Dyson V8 Slim Fluffy (worth S$509) or
  • Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) 
  • S$300 cash via PayNow

Last date to apply: 14th December 2023.

⚠️ Fill up SingSaver rewards form in email to choose your gift. No form completed = no reward given

Terms and Conditions. Click here

Sign-up Process

  1. Apply with the link
  2. Important: find SingSaver email and fill in redemption form after application; no form no reward
  3. Promo code field can be left blank
  4. Fulfil requirements as stated in terms and conditions

Credit card terms and conditions
Banking account terms and conditions
Priority banking terms and conditions

Get 10X ThankYou Points (4 mpd or 2.27% cashback) on online and shopping transactions. Read the review here

HSBC Revolution

🔥 👍🏼

New HSBC Cardholder
Choose:

  • HSBC CC Samsonite Zeltus¹
  • S$150 Cashback¹

Get 2 × chances to win S$1,010 or S$5,000 weekly!

⚠️ Important – complete all the following steps to be eligible for rewards:

  1. Provide HSBC consent to receive marketing/promotional materials during application
  2. Submit SingSaver Rewards Redemption Form in email
  3. Make a min. spend of S$500 by the end of the following month from card approval date to be eligible for rewards

Last date to apply: 31st December 2023

For quick reference only; refer to terms and conditions for exact terms:

  1. HSBC terms and conditions (Valid till 31st December 2023)

Get 10X points on eligible Paywave and online transactions. Annual fee waived for life. Tap here for the review

Cards for bigger spends

When I need to spend on bigger expenses, say a new phone or laptop, the UOB Preferred Platinum, HSBC Revolution, and Citi Rewards aren’t as suitable because they are only good for around S$1,000 of spend within a month.

I turn to DBS Woman’s World Mastercard instead for bigger online transactions up to S$2,000 within the month for 4 miles per dollar. The UOB Visa Signature also gives 4 miles per dollar for S$2,000 a month for contactless Paywave transactions.

DBS Woman’s World Mastercard

Promo code: 150CASH

👍🏼

New to bank

  1. Apply and use promo code 150CASH by 31st January 2024
  2. Charge a minimum of S$800 within the first 60 days from card approval date
  3. Get S$150 cashback!

Consider the DBS Yuu Card as your first DBS card for a better promo

Get 4 miles per dollar on online transactions. Men can apply too! Tap here for review

Cards for even bigger spends

If the spending gets even larger, there are more cards to consider such as the OCBC Titanium Rewards which gives 4 miles per dollar on mostly electronics and furniture shops, and the Citi SMRT which gives a decent 5% cashback on most online spend. Instead of a monthly limit, both cards have an annual limit (S$13,330 for OCBC Titanium Rewards, S$12,000 for Citi SMRT) for their high earn rate which can be used entirely within a single month if you wish.

Citi SMRT

🔥 👍🏼

One of the only high-earn cashback cards with no monthly cap! Gives 5% cashback on online transactions. Read the review here.

Lifestyle card

The final card on my list is technically a miles card, but given its poor earn rate of 1.3 miles per dollar, I will almost never use it for my spending. The Citi Prestige card is used more for its perks and benefits, such as getting the fourth night hotel free, and unlimited lounge access for the cardholder and one guest.

Combined with PayAll promos and getting free limousine rides, the Citi Prestige card is a great one to have for my travels in 2023.

Citi Prestige

If code is required C04233289T

🔥 👍🏼

New or existing Citi Cardholders

Apply here (if you get an error message signing up as an existing cardholder, try again as a new Citi cardholder)

Get 177,500 ThankYou points worth 71,000 miles (even existing cardholders of other Citi cards are eligible!):

Welcome Gift (payment of annual fee)62,500 points
(25,000 miles)
S$1,000 spend in local currency¹ within qualifying period² 57,500 points
(23,000 miles)
S$1,000 spend in foreign currency within qualifying period² 57,500 points
(23,000 miles)
Total177,500 points
(71,000 miles)

For quick reference only. See terms and conditions for full details.

  1. Fee-paying Citi PayAll transactions also count towards the local spend requirement.
  2. Qualifying period is 2 months after end of card approval month (e.g. card approved on 15th August 2023 → qualifying period until 30th October 2023).
  3. Existing cardholders of other Citi cards can also enjoy this promo.

Until 31st January 2024

⚠️ For new to Citi customers: I encourage you to apply for one of the other Citi Cards first before getting Citi Prestige. This way you enjoy both promos.

Complimentary hotel nights, unlimited lounge access, and limousine service. Annual requirement of S$120,000 (fairly flexible and up to the bank’s discretion). Read the review here and an analysis if the promo is worth it

Great deals

Last updated: 4th December 2023

🔥 Great deal
💳 Sign-up gifts for existing bank customers

CardsRewardsEndingRemarksReward Provider
🔥Citi CardsGet miles or S$300 cashback!31st January 2024Citi
🔥💳Citi PrestigeGet 71,000 miles, even for existing Citi cardholders29th February 2024Works even for existing Citi cardholders. Great deal offsets annual fees; useful features. Read this for promo analysisCiti
🔥DCS CardsGet a pair of luggage!31st December 2023DCS
🔥🔥OCBC CardsFor OCBC 365:
Dyson Supersonic hair dryer or

iPad 9th Gen or

Nintendo Switch OLED or

S$350 Cash via PayNow 
7th DecemberSingSaver + OCBC
🔥Maybank CardsS$200 cashback, suitcases, or AirPodsOngoingMaybank
🔥
💳
DBS CardsDBS Yuu Card: $150

DBS Altitude: up to 40,000 miles
OngoingMany DBS promos work even for existing DBS cardholders!DBS
CIMB CardsReceive S$250 cash via PayNow7th January 2024SingSaver
🔥StanChartStanChart Journey: 45,000 miles + S$100 cash / 4 AirTags

StanChart Simply Cash: S$350 cashback
7th January 2024StanChart + SingSaver
🔥💳HSBC CardsSony Portable Theatre System HT-AX7 (worth S$759)

Dyson Supersonic™ hair dryer (worth S$699)

Apple iPad 9th 10.2″ WiFi 64GB (worth S$503.65)

S$350 upsized cash via PayNow
8th December 2023Existing HSBC cardholders get some rewards too!HSBC + SingSaver
🔥UOB CardsUp to 31,000 Miles!OngoingUOB
Amex CardsUp to 31,500 miles for KrisFlyer cards.

Up to 140,000 points for Amex Platinum Charge
OngoingAmex
🔥Kris+$5
Multiple promos happening in-app
OngoingWallet app with great promos and extra rewards
No income requirement
Direct
Big PayS$5 cashbackOngoingWallet app; no income requirementDirect
iChangeS$5OngoingMulti-currency wallet app
No income requirement
YouTripS$5OngoingMulti-currency wallet app
No income requirement
Direct
🔥Instarem Amaze325 points (S$3.25)OngoingDirect
For quick reference only. Please check respective terms and conditions for full details.

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1 thought on “My Credit Card Strategy For 2023

  1. Thanks for this — a good insight.
    A follow up question, since we can’t do paynow qr on axs with grab anymore, what are the available options to earn some miles or cashback from credit card bills payment?

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