Christmas is around the corner, and I thought it might be helpful if we did a quick recap and evaluation of the different spend and redeem promotions that the banks have come out with.
Hereโs a summary table of whatโs available:

And hereโs a link to each promotionโs T&C:
[Update: As soon as I published this article I realised that UOBโs giveaway is fully redeemed too]
How can we analyze this?
Minimum spend requirements/ maximum receipts permitted
The minimum spend required to take part is a good measure of how โaccessibleโ each promotion is. In that respect, DBS and SCB are clear winners with a minimum of $100 and $150 spending required respectively.
But UOB differs from other banks in that it sets a maximum number of charge slips that your spending can be spread out across (8 and 12 respectively for the Charge 2 and Ionic). HSBC has this limitation but itโs strangely only for the stuffed toy and not the higher value gifts.
Eligible spending types
As you might expect, each bank has a list of spending that doesnโt qualify towards this promotion. The usual suspects like quasi-cash transactions, EZ-link top ups and the like donโt qualify, although the exact wording that each bank has is different (DBS and UOB for example exclude donations to charityโฆcome on guys, itโs Christmas) so itโs well worth checking out individual T&C.
UOBโs entire promotion and HSBCโs stuffed toy giveaway is only valid for spending that comes with a charge slip, i.e. online shopping doesnโt count .
Redemption limits/mechanisms
All of the above means squat for you if you canโt actually win something. The frustration with DBSโs horrible redemption app is well documented, and this is where I feel SCB has done a lot better than DBS because its Shop Shake and Win cashback game doesnโt require you to camp out on an app with your fingers crossed it doesnโt hang. Instead, you get an winning SMS so long as youโre within the first 160,000 eligible transactions.
Some gifts haveโฆlimited appeal
For the life of me I canโt remember what previous years gifts were but it seems this year the gifts have a bit more of a niche appeal. Iโd have thought the banks would want to play it safe and give away things like statement credits, or shopping vouchers, or stuff with wide appeal. Instead, HSBC is giving away Fuddlewuddle stuffed toys, which well donโt rank very high on my want list.
Similarly, Citibank is giving away Star Wars plush toys and luggage, but what if you couldnโt care less for Star Wars (go away then)?
DBS and SCB have probably opted for the safest gifts in that respect
Conclusion
I canโt imagine any of these promotions will last too long so hopefully this will arm you for your shopping ahead. Remember, if youโre not hot on the gifts available it may make more sense to optimize for a miles earning strategy instead of one that lets you qualify for something you donโt really fancy.
I got my fitbit ionic! the 3.8K charge to redeem this item is worth it! thank you Aaron for this write up!
lucky you! it looks gorgegous but itโs all gone now
Is there a mass typo here :
โItโs worth noting that Itโs worth noting that Maybank too has a promotion but itโs been fully redeemed. but itโs been fully redeemed.โ ?
Or to put it another way: yes, we know itโs been fully redeemedโฆ.donโt have to rub it in ๐
stop cramping my style.