Category Archives: Credit Cards

Cardup adds limited time member get member promotion

I’ve written previously about the startup Cardup, which charges a 2.6% fee in exchange for letting you use your credit card to make payments that normally couldn’t be made using a credit card. This means you can earn rewards points and miles on payments like rental, school fees, condo fees, insurance etc. Think of it conceptually as an opportunity to buy miles at a discounted rate.

Give $20, get $20

Cardup has launched a member get member promotion that lasts from now till 31 May 2017.

Under this promotion, any member that signs up via your referral code gets $20 off the Cardup fee for their first payment. You get $20 off your next payment for each successful referral. The maximum amount of free credit you can earn is $200 per account, or 10 referrals. Given the 2.6% fee, a $20 Cardup credit will cover the fees incurred on a ~$770 maximum value transaction.

My promo code is AARONW54, but feel free to post your own referral codes in the comments section below.

I realise the last time I wrote about this there was some confusion as to which cards earn 10X rewards points through Cardup. I have previously confirmed receiving 10X rewards points on Cardup using my DBS Woman’s World card for a transaction made in November 2016. I have not personally tested any of the following cards which offer 10X for online spending

  • HSBC Advance
  • UOB Pref Platinum Visa
  • Citibank Rewards
  • OCBC Titanium Rewards

The long and short of the matter is that there isn’t a whole lot of transparency on the back end of the banks as to how they classify transactions. There’s always a risk that you’ll not get what you were expecting. However- this member gets member promotion presents an opportunity for us to test different cards. Whether or not your 10X successfully posts, you don’t end up out of pocket, so that should lower the barrier to trying.

As a reminder, if you use a card like the UOB PRVI, you’ll get 1.4 mpd, or 1.86 cpm. You could potentially get 0.65 cpm with a 10X card, but that depends on whether you’re willing to gamble with either getting 10X or 1X (0.4 mpd).

Sharing is caring- please post the results of your field testing below. There might not be a point testing the HSBC Advance (assuming they don’t renew the 10X promotion), but I’d be interested to see what happens for other cards. Will give my Citibank Rewards card a test, if someone sends some free credit my way!

What is ABT and who’s giving away what?

ABT stands for Account-Based Ticketing. It’s a new initiative that allows you to use your contactless enabled Mastercard to pay for your bus/MRT rides. Simply put, your fares are billed to your credit card every time you ride, and there’s no need to top up and carry around a separate EZ-link card. There are no additional charges involved.

You can read more details about the scheme here, suffice to say that the pilot has launched today. Some of you may have received an SMS from your bank inviting you to participate, but if not you can try to manually register here, subject to availability. If your card has this symbol, you’re potentially eligible

There is a general promotion being run by Mastercard that applies to all users of ABT.

The 200 Mastercard holders with the highest number of ABT transactions during each qualifying period (see below) will get a rebate of S$80. There are a total of 1,200 travel rebates of S$80 to give away from now till 19 Sept 2017.

Full T&C can be found here.

Apart from that, the banks have launched various promotions to encourage people to sign up. Here’s the rundown

UOB

UOB has said that ABT transactions will not earn rewards or rebates. However, they are running 2 launch promotions as shown below.

You’re probably not going to win the S$1,000 of free rides (11 winners), but you might fare (HAHAHAHAHAHA) a bit better with the S$15 rebate. The first 20,000 cardmembers who use ABT for at least one transaction per month will get a $5 rebate for each of the 3 months (March, April, May) promotional period. Full T&C can be found here.

DBS/POSB

DBS/POSB’s offer is a 100% cashback on the first 3 rides between 20 March and 20 April. Full T&C can be found here. This offer isn’t capped, but it’s fairly weak compared to what other banks have.

OCBC

OCBC is offering up to S$15 cashback for cardholders using ABT. This promotion runs from 20th March to 19th June 2017, and a maximum of S$5 can be earned each month. This is open to the first 3,000 cardmembers per month. Full T&C can be found here.

CIMB

CIMB is offering a 10% cash credit (up to S$8 per month) when you use CIMB Mastercard with your ABT from now till 19 Sept 2017. Full T&C can be found here.

EDIT: An earlier version of the article said that there was a minimum spend per month of S$80 required. This was based on this line in the webpage

However, the T&C do not specify any minimum spend of S$80 required. 

My reading of this is that if you want to get S$8 per month you need to spend a min of S$80 (@ 10% rebate). But any spending <S$80 should still net you the 10% rebate.

Maybank

(Thanks to Kindsoul) Maybank’s version of this promo is similar to CIMB- 8% cash rebate with the Family and Friends card. You can read the T&C here.

Standard Chartered

(Thanks Yiwei) Standard Chartered is offering S$10 cashback each month with a minimum spend of S$10 on ABT. This promotion is capped to S$30 per cardholder during the period of 20 March to 19 Sept 2017. The full T&C can be found here

Summary

If UOB is any example to go by, it appears that banks will not give miles on ABT transactions. Therefore, unless you’re gunning for some (limited) free money, you might be better off topping up your Ez-link card with the HSBC Visa Advance (until the end of this month at least) to earn 10X points on $200 each month.

You can now use your DBS/POSB cards to pay for ERP charges

I wrote previously about being able to pay ERP charges with your credit card. This service, called EZ-Pay, was previously only available to those who had Citibank cards. There were no fees involved, and you could earn rewards points for payments made.

It was announced this week that EZ-Pay would be extended to DBS/POSB cards as well.

To recap- with EZ-Pay, your ERP charges are billed directly to your card if you have insufficient value in your cashcard or go through the gantry without a card. I don’t have a car, but if I did I’d certainly see this as a way of earning a few bonus miles, especially given the lack of top up fees. You’re not going to earn a lot of miles through ERP, obviously, as I would imagine that the amount you pay on parking would far exceed the amount spent on ERP.

And here’s where phase 2 of the project becomes interesting, because eventually the plan is that EZ-Pay will extend to parking charges as well. That’s right, you can enter and exit a carpark without needing a cashcard.

For completeness’ sake I’m going to reiterate two other options that exist for you to pay ERP charges with your credit cards-

MotorPay

DBS offers  MotorPay in conjunction with the LTA and charges $1.07 a month per vehicle. Every time you pass through a gantry, the charge is billed to your DBS credit card.

VCashCard

VCashCard  allows you to use Mastercard and Visa cards from DBS/POSB/OCBC/UOB and SCB to top up a virtual cash card. When your card balance drops below $10, it is automatically topped up. You can only top up in intervals of $50, and a $0.50 transaction fee is charged per top ups except for UOB cards.

VCashCard says payment at carparks is “coming soon”

The advantage of EZ-Pay is the lack of a transaction fee. Every little bit, right?