UOB has just announced a brand new credit card - the UOB YOLO (yes, it really stands for You Only Live Once). This is a cash rebate card so mile warriors and chasers can go someplace else now. For everyone else, the UOB YOLO will offer you up to 8% cash rebate on weekend dining and entertainment for local and overseas spend.
While the card does come with a bunch of offers and benefits like 1-for-1 deals, here's a summary of the UOB YOLO's key features. In order to trigger the bonus cash rebates of up to 8%, you will have to charge at least S$600 to your card per statement period. Therefore, to take full advantage of this card, you should charge S$750 worth of weekend dining and entertainment spend to this card to earn S$60 cash rebate (which is the maximum per statement period). Do note that the 8% cash rebate is only valid until the end of 30 September 2016 - it will go down to 6% following that (which is still pretty decent!).
SUMMARY OF UOB YOLO's Features
|Summary of UOB YOLO's Key Features|
(per Statement Period)
(per Statement Period)
(With Minimum Spend Requirements Met)
(until 30 September 2016)
(from 01 May 2016)
|All Other Spend||0.3%|
Another interesting feature of the UOB YOLO credit card is the 3% you get from using UOB Mighty (w.e.f. 01 May 2016). In case you do not already know, UOB Mighty allows you to pay using an NFC-enabled Android phone without the use of a physical credit card. It will be interesting to see whether this feature will be rolled out for Apple users when Apple Pay finally becomes a reality in Singapore.
UOB YOLO CARD BENEFITS
The UOB YOLO also comes with a range of entertainment benefits which include 1-for-1 movie tickets at The Cathay CineplexShould you satisfy the minimum spend requirement of S$600, you will earn 8% rebates on these purchases (until 30 September 2016) and you will also benefit from the 2% SMART$ rebate. The only real catch with this promotion is that the 1-for-1 tickets are only available on Saturday and Sunday at The Cathay Cineplex (2 Handy Road) - limited to 100 tickets per day. You will also get some travel benefits but personally they are not significant enough to mention (since many cards offer the same benefits).
All monthly cash rebate that have been earned in the statement month will be automatically credited to the card account in the following statement month.