Last updated: January 2024
I recently looked at the UOB Absolute Cashback Card, a credit card that promises to give users cashback on all their spending. The card is marketed as a simple and straightforward way to earn cashback on everyday purchases, without the need to meet minimum spending requirements or keep track of complicated rewards programs.
One of the standout features of the UOB Absolute Cashback Card is its high cashback rate of 1.7% on most spending, with no cap or minimum spend required. This makes it a great option for those who want to earn cashback on their purchases, regardless of how much they spend. Additionally, the card offers a range of other benefits, such as discounts on dining and shopping, travel insurance, and a complimentary airport lounge access program.
Overall, the UOB Absolute Cashback Card is a solid choice for those who want to earn cashback across all their spending, without having to worry about complicated rewards programs or minimum spending requirements. However, it's important to note that the card does come with an annual fee, so users should weigh the benefits against the cost before signing up.
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Overview of UOB Absolute Cashback Card
As a credit card user, I am always on the lookout for a card that offers great rewards and benefits. The UOB Absolute Cashback Card is one such card that caught my attention. Here's an overview of what this card has to offer:
Card Features
The UOB Absolute Cashback Card offers a generous cashback of up to 1.7% on mostl purchases, with no minimum spend required. This means that you can earn cashback on all your purchases, whether big or small. Additionally, the card offers a welcome bonus of up to S$350 cash credit when you apply for the card and spend a minimum of S$1,000 per month for 2 consecutive months
The card also comes with a range of other benefits, including discounts on dining, shopping, and entertainment. Cardholders can enjoy up to $25 off at over 1,000 dining establishments in Singapore, as well as discounts on shopping and entertainment at selected merchants.
Eligibility Criteria
To be eligible for the UOB Absolute Cashback Card, you must be a Singapore citizen or permanent resident, and be at least 21 years old. You must also have a minimum annual income of S$30,000 if you are a Singaporean or permanent resident, or S$40,000 if you are a foreigner.
Annual Fees
The UOB Absolute Cashback Card charges an annual fee of S$194.40, which is waived for the first year. Supplementary cards are also available at no additional cost.
Overall, the UOB Absolute Cashback Card is a great option for those looking for a credit card that offers generous cashback rewards and a range of other benefits. However, it's important to note that the card does come with an annual fee, so make sure to weigh up the costs and benefits before applying.
Rewards and Cashback
Cashback Rate
As an owner of the UOB Absolute Cashback Card, I can confidently say that the cashback rate is one of the best in the market. The card offers a flat cashback rate of 1.7% on all my spendings, with no minimum spend required. This means that I can earn cashback on all my purchases, big or small, without having to worry about meeting a minimum spend requirement.
Cashback Categories
The UOB Absolute Cashback Card offers cashback on a wide range of categories, including dining, groceries, petrol, and travel bookings. The cashback rate for these categories varies, with dining and groceries offering the highest rate of 8%, followed by petrol at 5% and travel bookings at 1.7%.
Limitless Cashback NO Cap
One of the upsides of the UOB Absolute Cashback Card is there is NO cashback cap. Other cards usually have a monthly cashback cap of $80, which means that once I reach this limit, I will not be able to earn any more cashback for the rest of the month. However, this card offers no cap on cashback earned across all my spend.
Overall, the UOB Absolute Cashback Card's rewards and cashback programme in my opinion is one of the best in the market, offering a high cashback rate on all spendings and a wide range of categories. The only downside is the monthly cashback cap, but it is still relatively high compared to other cashback cards.
Benefits and Perks
As an UOB Absolute Cashback Cardholder, I enjoy a range of benefits and perks that make my spending experience even more rewarding.
Travel Benefits
One of the top perks of this card is the travel benefits. I can enjoy up to 1.7% cashback on my travel expenses, including flights, hotels, and travel packages. Additionally, I get complimentary travel insurance coverage of up to $500,000 when I charge my travel expenses to the card.
Dining Privileges
The UOB Absolute Cashback Card also offers a range of dining privileges. I can enjoy up to 1.7% cashback on dining expenses at over 1,000 restaurants across Singapore, including popular chains and high-end restaurants. Furthermore, I get exclusive access to dining events and promotions throughout the year.
Shopping Advantages
As a frequent shopper, I appreciate the shopping advantages that come with the UOB Absolute Cashback Card. I can enjoy up to 10% cashback on my shopping expenses at over 1,000 participating merchants, including online shopping.
Overall, the UOB Absolute Cashback Card provides me with a range of benefits and perks that make my spending experience more rewarding. Whether I'm travelling, dining out, or shopping, this card offers me cashback, insurance coverage, and exclusive privileges that I can't find elsewhere.
Application Process
Required Documents
To apply for the UOB Absolute Cashback Card, you will need to prepare the following documents:
- A copy of your NRIC (front and back) or passport for foreigners
- Latest computerised payslip or latest 6 months' CPF contribution history statement
- Latest Income Tax Notice of Assessment
- For self-employed individuals, latest Income Tax Notice of Assessment and bank statement for the last 3 months
Make sure to have these documents ready before starting the application process.
Online Application Steps
The UOB Absolute Cashback Card application process is simple and straightforward. Here are the steps to follow:
- Go to the UOB website and click on the "Apply Now" button for the UOB Absolute Cashback Card.
- Fill in your personal details, including your name, NRIC/passport number, and contact information.
- Provide your employment information, such as your occupation, company name, and monthly income.
- Upload the required documents in the appropriate sections.
- Review and confirm your application details.
- Submit your application.
Once you have completed the application process, UOB will review your application and notify you of the outcome. If your application is successful, you will receive your UOB Absolute Cashback Card within 7 working days.
Overall, the UOB Absolute Cashback Card application process is quick and hassle-free. Just make sure to have all the required documents ready before applying to avoid any delays.
Fees and Charges
As with any credit card, it is important to be aware of the fees and charges associated with the UOB Absolute Cashback Card. Here are the key fees and charges to keep in mind:
Foreign Transaction Fees
If you use your UOB Absolute Cashback Card for transactions made in a foreign currency, you will be charged a fee of 3.25% of the transaction amount. This is a standard fee for most credit cards in Singapore, and it is important to keep in mind when using your card abroad.
Late Payment Charges
If you fail to make your minimum payment by the due date, you will be charged a late payment fee of $100. It is important to ensure that you make your payments on time to avoid these unnecessary charges.
Overall, the fees and charges associated with the UOB Absolute Cashback Card are fairly standard for a credit card in Singapore. However, it is important to be aware of these fees and to ensure that you make your payments on time to avoid any unnecessary charges.
Comparison with Other Cashback Cards
When comparing the UOB Absolute Cashback Card with other cashback cards, there are a few key features that set it apart. Here are some of the main differences:
Cashback Rates
The UOB Absolute Cashback Card offers a flat cashback rate of 1.7% on all spending, with no caps or minimum spend requirements. This is higher than many other cashback cards that offer tiered rates or lower rates for certain categories of spending.
Annual Fees
The UOB Absolute Cashback Card has an annual fee of $194.40, which is common among some other cashback cards. However, it also offers a range of other benefits such as free travel insurance and airport lounge access, which may make it more worthwhile for frequent travellers.
Sign-Up Bonuses
Some other cashback cards offer sign-up bonuses or welcome gifts, which can be a great way to boost your rewards. However, the UOB Absolute Cashback Card does not currently offer any sign-up bonuses or welcome gifts.
Other Benefits
In addition to cashback rewards, the UOB Absolute Cashback Card also offers a range of other benefits such as discounts on dining and shopping, as well as exclusive promotions with partner merchants. These benefits can add up to significant savings over time.
Overall, while the UOB Absolute Cashback Card may not offer the highest cashback rates or the lowest annual fees, it does provide a good balance of rewards and benefits that can make it a worthwhile choice for many consumers.
Conclusion and Final Thoughts
After using the UOB Absolute Cashback Card for some time, I can confidently say that it is a great cashback credit card option for those who want to earn cashback on their daily purchases.
The card offers a high cashback rate of up to 1.7% on all spend categories, with no minimum spend required. This makes it a great option for those who want to earn cashback on their everyday expenses, such as groceries, dining, and petrol.
In addition, the card comes with a generous welcome offer of up to S$350 cash credit, which is a great incentive for new cardholders. The annual fee of S$194.40 is also waived for the first year, making it a great value for money option.
However the card can’t be used for Apple Pay, Google Pay, Samsung Pay, etc, as mobile contactless payments are not enabled.
Overall, I would highly recommend the UOB Absolute Cashback Card to anyone looking for a reliable cashback credit card with great benefits and rewards.
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