It took me about 30 minutes to think up the headline for this article. But I think it was totally worth it.
Anyway, it was a sad day for the miles earning game as EZ Link announced it would be discontinuing the EZ Link Imagine AMEX Prepaid card.
A nifty FAQ is provided here which you should read if you have an active Imagine card. Card sales will cease 24 March, top ups can continue till 31 May and the card will no longer be accepted from 1 Sept.
Why was the card discontinued? I can’t imagine that people playing the miles game had anything to do with it- if anything, they probably kept the card alive much longer than it would otherwise have. I know plenty of people who would commit to spending $2,000 each month purely through that card, and in doing so earn 8,000 miles each month from the DBS Woman’s World Mastercard. I suspect that EZ Link simply decided it wasn’t earning enough from its share of transaction and top up admin fees (which I imagine AMEX kept a large share of).
What do I do now?
Well, first you should enjoy your last few cycles of top ups. March, April and May are still good for top ups, and that will net you another 24,000 miles if you use your DBS Woman’s World Card.
I have to admit I was never a big user of the Imagine because in the course of my job I typically make $2K+ of Paypal payments each month which lets me max out the DBS Woman’s Card. But there are people who understand the ins and outs of the card much better than me, and you can read their guru advice here.
After the Imagine, FEVO is your next best option for maxing out your DBS Woman’s World Card. The card costs $28 and charges a 1% top up fee. Full fees below
|Top-up Fee @ www.fevocard.com.sg and FEVO Mobile App||From 1 July 2014, 1% convenience fee will be levied on top-up transactions|
|DBS/POSB iBanking||$0.50 convenience fee on top-up transactions|
|Cross Currency Conversion||2.50% of transaction amount|
|Cross Border Conversion||1.50% of transaction amount|
|Dormancy Fee (after 3 months of non-financial inactivity)||S$0.30 per month|
|Registered Mail||S$3.50 per order|
This move makes me worried that we might be seeing the end of prepaid cards in Singapore, which were never a big business to begin with. But really, who knows. No point worrying over something that may or may not happen.
It was good while it lasted.