Want to ask a question on UOB credit card

UOB One Platinum = Cash rebate on the spot
UOB Preferred Platinum = RM1 = 1 point

Question: Is it better to get cash rebate? or collect points and later on change vouchers? Cash Rebate discount VS Points redemption

They said UOB One Platinum requirement now is RM70k p.a. and UOB One card has much lower requirement but both benefits the same. Only different is the word One Card and One Platinum printed only. The person also said last time when they launched the One Card, all was given UOB One Platinum but they have made the correction now. The person said those ppl applied earlier was lucky. Lower requirement can get platinum

PS: I ended applied both at Carrefour Kepong, but plan to cut either 1 when they call me to varify. After i applied UOB, while I'm still at the UOB booth waiting for them to photocopy my IC/CC, all the other banks (HSBC, Citibank, RHB, Hong Leong, AMbank, EON, Standard Charted) came like zombies and keep asking for me to apply too even when I'm still at UOB haven finish


This post has been edited by auhckw: Sep 21 2008, 12:10 AM

Now Platinum has lost it's value

Last time income PA. RM120k and it drops to RM100k -> RM90k -> RM80k -> RM70k

If you have an existing credit card used for more than 1 year and has RM17k credit limit also can get Platinum

Very soon, Platinum will be like Gold few years back. Everyone have one

I got this info from those ppl promoting HSBC, Citibank, RHB, Hong Leong, AMbank, EON, Standard Charted credit card today

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Added on September 21, 2008, 12:31 amAccording to the UOB agent, she said the 2 banks that does not have points expiry is Citibank and UOB. Not sure true / false statement

Anyway, I did some calculation

13800 points (1 point = RM1) to exchange RM50 (Seng Heng)

Carrefour 4% cashback. If I spend RM1250, I get 4% cash back = RM50 savings

So Cash back is much better

Am I right?

This post has been edited by auhckw: Sep 21 2008, 12:31 AM

My boss introduced me to get UOB cause his point has never expiry (for years he has used it)

UOB One Platinum = Cash rebate (e.g. 4% for Carrefour, 5% for GSC, 10% for SFCC, 0.3% on all purchases, and an amazing list of cash rebate partners http://www1.uob.com.my/webpages/SmartCash/index.htm)

I did a further calculation:-

Points
13800 points (1 point = RM1) to exchange RM50 voucher (Seng Heng)

Cash Back
To get RM50 savings, based on 4% Carrefour cash back, have to spend RM1250 instead of RM13,800 to get the points for RM50 voucher


But if to spend on non UOB cash back partners (e.g hotel, flight, etc), it is much better to get the points

Points
13800 points (1 point = RM1) to exchange RM50 voucher (Seng Heng)

Cash Back
To get RM50 savings, based on 0.3% on all purchase, have to spend RM16,666 instead of RM13,800 to get the points for RM50 voucher

Not only that, even there is a sale going on at the retail shop, the cash back will still be applied. Discount + Cash back

Guess I will have to keep both then

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Added on September 21, 2008, 1:09 amI'm currently holding Public Platinum Visa. The cash back reward sux. Can only get back on the 12 month statement.

Not only that, the cash back percentage is so low


Worse, it is not free for live. To get free for live, for primary have to spend above RM10k pa, and for sub card have to spend RM5kpa

Going to cut soon...

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Added on September 21, 2008, 1:13 amWhere for UOB card, only need to swipe 6 times per year to get free for the year

But unfortunately for sub card upon approval they will charge RM30 per card. And every year the admin fee for sub card is RM30 pa. The agent say we can try call and ask for waiver

Disclaimer: I am not associated with any credit card agents. Just wishing to share this info

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Added on September 21, 2008, 1:39 amOk, after browsing through UOB website i found out some additional info

Actually all UOB credit card comes with cash back and points

UOB One card = cash back no points
UOB other credit card = cash back + point

The difference from UOB One card and other UOB credit card is that One card has some cash back merchant that normal UOB credit does not have. Ex Carrefour, GSC, etc (not that many actually)



This post has been edited by auhckw: Sep 21 2008, 01:39 AM

I applied citibank platimum visa yesterday. Today they call me approve already and card ready for collection

I didnt expect that fast

They are promoting the plaza premium lounge in klia. Free pass to use their facilities such as internet, massage, food, drinks, beer, etc

For lcct's plaza premium lounge, not free but 50% discount

This is sure good for me since i go there quite often. Got place to camp when early

Cardmember is required to charge a minimum cumulative spending of RM500-00 on any
petrol transaction during the stipulated promotion period to be eligible for 5% Cash
Rebate/ 5 x Reward Points.

For citibank, this is from my experience

Evening of Day 1: Fax the credit card form + photocopy of IC + photocopy of current credit card
Noon of Day 2: Agent call saying approved
Noon of Day 3: Went to Menara Citibank and got my card. Could have got it done on Evening of Day 2 but I'm not free then

If you want I can give you the contact number of the agent. Quite good service

This post has been edited by auhckw: Oct 14 2008, 12:32 PM

Just got this info from the Customer Service of UOB

Seems like UOB has changed their policy of waiver for Preferred Platinum & ONE Platinum

First 2 year is free. 3rd year onwards in order to get free waiver, you need to have 1 transaction per month + Total spending per year is RM3000

I remembered the Sales person told me that I only need to swipe 6 transactions per year in order to get Free waiver. Seems like this is not true / UOB has changed their policy