UOB Bank is revising the minimum monthly spend requirement of its UOB ONE Platinum credit card, which determines whether cardholders qualify for the maximum 10% cash rebate provided by the card for selected transactions. Set to take effect starting from 1 April 2023, this requirement will be increased from RM1,200 to RM1,500 per month.
Upon meeting the new RM1,500 monthly spend requirement, UOB ONE Platinum cardholders will then be able to enjoy 10% cash rebate for four spend categories: petrol, groceries, dining, and Grab transactions (capped at RM15 per category). If they do not meet the requirement, they will only earn a cash rebate of 0.2% for the categories. A separate unlimited 0.2% rebate provided for all other retails, meanwhile, is applicable regardless of whether you meet the monthly spend requirement or not.
Here’s a quick table to summarise this latest update to the UOB ONE Platinum card for your convenience:
Before 1 April 2023 After 1 April 2023 Monthly cash rebate cap Monthly spend more than RM1,200
– 10% cash rebate for petrol, groceries, dining, Grab transactions
– 0.2% cash rebate for other retail purchases Monthly spend more than RM1,500
– 10% cash rebate for petrol, groceries, dining, Grab transactions
– 0.2% cash rebate for other retail purchases – RM15 (per category for petrol, groceries, dining, Grab transactions)
– Unlimited for 0.2% for other retail purchasesMonthly spend less than RM1,200
– 0.2% cash rebate for petrol, groceries, dining, Grab transactions
– 0.2% cash rebate for other retail purchases Monthly spend less than RM1,500
– 0.2% cash rebate for petrol, groceries, dining, Grab transactions
– 0.2% cash rebate for other retail purchases – RM15 (per category for petrol, groceries, dining, Grab transactions)
– Unlimited for 0.2% for other retail purchases
Other benefits of the UOB ONE Platinum card remains unchanged; you can continue to enjoy perks such as discounts of up to 15% on dining at selected restaurants, and 0% interest easi-payment plans. The annual income requirement for the card is also still set at RM48,000, while the annual fee is at RM68.
As for the UOB ONE Classic card – a lower variant of the UOB ONE credit card that offers the same 10% cash rebate for petrol, groceries, dining, and Grab transactions, but with a lower RM10 monthly cap – no new revisions are introduced. Cardholders will still need to spend a minimum of RM500 in order to enjoy the maximum cash rebate rate, or else, they will also only earn 0.2% cash rebate for the four spend categories. Its annual income requirement (RM24,000) and annual fee (RM68), too, remains unchanged.
(Source: UOB)
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