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UOB One credit card review - Best flat cashback rate

By Beansprout • 23 Feb 2024 • 0 min read

The UOB One credit card offers a base cashback of 3.33% on all spending every quarter, and an additional cashback of up to 6.67% when you spend with selected partners. Learn more about the benefits, eligibility requirements and promotions for the UOB One credit card.

uob one credit card review

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What happened?

Many in the Beansprout community have been talking about the UOB One account due to the attractive effective interest rate of up to 5.0% per annum. 

This also led to many questions about which is the best UOB credit card to enjoy benefits with the UOB One account.

So we decided to start with a review of the UOB One credit card to understand the benefits and eligibility requirements of the card.

Read on to find out more about the UOB One credit card and how you can make the most of it.

What is the UOB One credit card?

The UOB One credit card is a credit card by UOB which offers cashback of up to 15% on your daily spend. 

With the UOB One credit card, you can also earn fuel savings of up to 22.66% at Shell and SPC.

Lastly, you can use your UOB One credit card to meet the credit card spending  requirements of the UOB One savings account, which offers an effective interest rate of up to 5.0% per annum.

uob one credit card benefits
Source: UOB

What are the benefits of the UOB One credit card?

#1 - Quarterly cashback

With the UOB One credit card, you can enjoy a base 3.33% cashback on all spending every quarter. 

You will receive a base cashback of S$50, S$100 or S$200 quarterly, depending on the amount you spend per month:

Tier 1In each statement month for the quarter, spend a total of at least S$500 but less than S$1,000 comprising at least 5 card transactions S$50 cashback quarterly
Tier 2 In each statement month for the quarter, spend a total of at least S$1,000 but less than S$2,000 comprising at least 5 card transactionsS$100 cashback quarterly
Tier 3In each statement month for the quarter, spend a total of at least S$2,000 comprising at least 5 card transactionsS$200 cashback quarterly

#2 - Additional cashback

Besides the quarterly cashback, you can also earn additional cashback when you spend on these categories:

  • Dining: Additional 5% cashback on McDonald's and Grab (including GrabFood, excludes Grab mobile wallet top-ups), as well as up to 50% off with UOB dining privileges 
  • Groceries: Additional 5% cashback at DFI Retail Group (Cold Storage, CS Fresh, Giant, Guardian, 7-Eleven & more)
  • Petrol Discounts: Up to 22.66% savings on fuel purchases at SPC and up to 21.15% savings on fuel purchases at Shell Stations
  • Land Transport: Additional 5% cashback on SimplyGo 
  • Utilities: Up to 4.33% cashback on Singapore Power utilities bill
  • Retail: Additional 5% cashback at Shopee (excludes ShopeePay) 
  • Travel: Additional 5% cashback on UOB Travel

If you spend more than $2000 per month, you can get an additional 1.67% cashback on top of the 5% cashback categories mentioned above, bringing the total cashback to 6.67%.

The additional cashback is capped at S$100 per month. 

#3 – Enhanced cashback for new cardmembers 

In addition to the above, UOB is currently offering an enhanced cashback for new-to-UOB cardmembers who apply by 31 March 2024

  • Receive an enhanced 6.67% cashback when you spend at least S$500
  • Receive an enhanced 5% cashback when you spend at least S$2,000

The Enhanced cashback is capped at S$100 per month and will commence for 6 months (2 quarters) from your card approval date

What is the total amount of cashback you will receive with UOB One credit card? 

In summary, these are the benefits you can expect with the UOB One credit card:

uob one credit card cashback summary
Source: UOB

For example, if you spend S$2,000 per month in total on your UOB One credit card, of which S$1,500 is spent on selected partners such as McDonald’s, Grab, and Shopee as a new cardmember, you will receive total cashback of S$800 over three months, comprising of:

  • S$200 in quarterly cashback 
  • S$100 in additional cashback per month for spending on the participating merchants
  • S$100 in enhanced cashback per month as a new-to-UOB cardholder (for 6 months from card approval date)

If you spend S$500 per month in total on your UOB One credit card, of which S$400 is spent on selected partners such as McDonald’s, Grab, and Shopee as a new cardmember, you will receive total cashback of S$210 over three months, comprising of:

  • S$50 in quarterly cashback 
  • S$20 in additional cashback per month for spending on the participating merchants
  • S$33.33 in enhanced cashback per month as a new-to-UOB cardholder (for 6 months from card approval date)

What are the annual fees of the UOB One credit card?

The principal card costs S$196.20 annually, with a first year fee waiver. The first supplementary card is free, and subsequent supplementary cards cost S$98.10 annually.

What are the eligibility criteria of the UOB One credit card?

To be eligible for the UOB One credit card, you will need to be at least 21 years old. 

The annual income requirements are:

  • S$30,000 and above for Singaporeans and Singapore PRs
  • S$40,000 and above for foreigners

Comparing the UOB One credit card against other credit cards

UOB One vs OCBC 365 credit card

The OCBC 365 credit card is a credit card by OCBC Bank which offers cashback rewards on spendings across various categories. 

The UOB One credit card has a lower minimum spending requirement of S$500 per month to earn cashback compared to the minimum spending requirement of S$800 per month for the OCBC 365 credit card. 

The UOB One credit card offers a 3.33% base quarterly cashback on all spending, as well as additional cashback for selected categories, while the OCBC 365 credit card only offers cashback for selected spending categories.

Feature

UOB One Credit Card

OCBC 365 Credit Card

Minimum monthly spend to earn rewardsS$500 (min. 5 transactions)S$800
Base reward3.33% quarterly cashback on all spending3-6% cashback across Dining, groceries, petrol, land transport, pharmacy, EV charging, utilities and streaming services 
Additional rewards

Additional cashback of 5% to 6.67% for spending with selected partners including McDonalds, Grab, Shopee

Enhanced cashback of 5% to 6.67% for new cardholders (for 6 months)   

No additional rewards
Reward limit
  • Min. spending of S$500 and min. 5 transactions: Base cashback capped at S$50 per quarter.
  • Min. spending of S$1,000 and min. 5 transactions: Base cashback capped at S$100 per quarter.
  • Min. spending of S$2,000 and min. 5 transactions: Base cashback capped at S$200 per quarter.
  • Additional cashback capped at S$100 per month.
  • Enhanced cashback capped at S$100 per month.

Min. spending of S$800, cashback capped at S$80 per month.

 

Min. spending of S$1600, cashback capped at S$160 per month.

UOB One vs OCBC Infinity Cashback card

The OCBC Infinity Cashback card is another credit card by OCBC Bank which offers unlimited cashback on most categories of spending. 

The UOB One credit card requires a minimum monthly spend of S$500 to earn cashback, while the OCBC Infinity Cashback card requires no minimum spend.

The UOB One credit card offers a base cashback of 3.33% per quarter for all spending while the OCBC Infinity Cashback card offers a base cashback of 1.6% per month for all spending.

The UOB One credit card offers additional cashback for selected categories such as dining, groceries and shopping.

The OCBC Infinity Cashback card has no cashback cap while the UOB One credit card has a cashback limit based on the amount spent.

Feature

UOB One Credit Card

OCBC Infinity Cashback Card

Minimum monthly spend to earn rewardsS$500 (min. 5 transactions)No minimum spend
Base reward3.33% quarterly cashback on all spending1.6% monthly cashback on all spending
Additional rewards

Additional cashback of 5% to 6.67% for spending with selected partners including McDonalds, Grab, Shopee

Enhanced cashback of 5% to 6.67% for new cardholders (for 6 months)   

No additional rewards
Reward limit
  • Min. spending of S$500 and min. 5 transactions: Base cashback capped at S$50 per quarter.
  • Min. spending of S$1,000 and min. 5 transactions: Base cashback capped at S$100 per quarter.
  • Min. spending of S$2,000 and min. 5 transactions: Base cashback capped at S$200 per quarter.
  • Additional cashback capped at S$100 per month.
  • Enhanced cashback capped at S$100 per month.
No cashback limit

UOB One vs OCBC Frank credit card

The OCBC Frank credit card is a credit card by OCBC Bank which offers cashback rewards for your spending. 

The UOB One credit card requires a lower minimum spend of S$500 per month to earn cashback while the OCBC Frank Credit Card requires a minimum spend of S$800 per month.

The UOB One credit card has a higher cashback cap of S$50/100/200 per quarter + S$200 per month. The OCBC Frank credit card has a cashback cap of $100 per month, which is further split into different categories.

The OCBC Frank credit card offers higher cashback rates while the UOB One credit card offers additional petrol discounts.

Feature

UOB One Credit Card

OCBC Frank Credit Card

Minimum monthly spend to earn rewardsS$500 (min. 5 transactions)S$800
Base reward3.33% quarterly cashback on all spending

8% cashback on all local transactions made online and via mobile contactless

 

0.3% cashback on all other eligible spending

Additional rewards

Additional cashback of 5% to 6.67% for spending with selected partners including McDonalds, Grab, Shopee

Enhanced cashback of 5% to 6.67% for new cardholders (for 6 months).

  • 8% cashback on foreign currency transactions 
  • 2% additional cashback on transactions made at selected eco-retailers and eco-transport services
Reward limit
  • Min. spending of S$500 and min. 5 transactions: Base cashback capped at S$50 per quarter.
  • Min. spending of S$1,000 and min. 5 transactions: Base cashback capped at S$100 per quarter.
  • Min. spending of S$2,000 and min. 5 transactions: Base cashback capped at S$200 per quarter.
  • Additional cashback capped at S$100 per month.
  • Enhanced cashback capped at S$100 per month.

Total cashback capped at S$100 per month, which is further split into:

  • For foreign currency transactions: S$25
  • Local currency transactions: S$25
  • All other eligible spending: S$25
  • Spending on green merchants: S$25

UOB One vs DBS LiveFresh Card

The DBS LiveFresh Card is an eco-friendly credit card by DBS bank which offers cardholders cashback benefits. 

The UOB One requires a lower minimum spending of S$500 per month to earn cashback while the DBS LiveFresh credit card requires a minimum spending of S$600 per month.

The DBS LiveFresh offers an additional 5% Green Cashback for spending on specific eco-eateries, eco-retailers and eco-transport services. The UOB One credit card offers additional 5-6.67% cashback on selected categories like dining, groceries and transport.

The UOB One credit card has a higher cashback cap of compared to the DBS LiveFresh credit card, where cashback is capped at S$75 per month.

Feature

UOB One Credit Card

DBS LiveFresh Card

Minimum monthly spend to earn rewardsS$500 (min. 5 transactions)S$600
Base reward3.33% quarterly cashback on all spending

5% cashback on online and contactless transactions

 

0.3% cashback on all other eligible spending

Additional rewards

Additional cashback of 5% to 6.67% for spending with selected partners including McDonalds, Grab, Shopee

Enhanced cashback of 5% to 6.67% for new cardholders (for 6 months)   

Additional 5% Green Cashback on transactions made at selected eco-retailers, eco-eateries and eco-transport services
Reward limit
  • Min. spending of S$500 and min. 5 transactions: Base cashback capped at S$50 per quarter.
  • Min. spending of S$1,000 and min. 5 transactions: Base cashback capped at S$100 per quarter.
  • Min. spending of S$2,000 and min. 5 transactions: Base cashback capped at S$200 per quarter.
  • Additional cashback capped at S$100 per month.
  • Enhanced cashback capped at S$100 per month.

Total cashback capped at S$75 per month, which is further split into:

  • Online spend: S$20
  • Visa contactless payment: S$20
  • Sustainable spend: S$15
  • All other spend: S$20

 

UOB One vs POSB EveryDay credit card

The POSB EveryDay credit card is a cash rebate credit card by POSB Bank which offers cash rebates in the form of POSB Daily$. 

The UOB One credit card requires a higher minimum spend of S$500 per month to earn cashback compared to the POSB EveryDay credit card (no minimum spend). However, to earn additional rewards for the POSB EveryDay credit card, a minimum spend of S$800 per month is required.

The UOB One credit card has a higher cashback cap of S$50/100/200 per quarter + S$200 per month. For the POSB EveryDay Credit Card, total cash rebate is capped at Daily$81 per month, which is further split into various categories.

Feature

UOB One Credit Card

POSB EveryDay Credit Card

Minimum monthly spend to earn rewardsS$500 (min. 5 transactions)No minimum spend
Base reward3.33% quarterly cashback on all spendingNo base cashback, dependent on spending category
Additional rewards

Additional cashback of 5% to 6.67% for spending with selected partners including McDonalds, Grab, Shopee

Enhanced cashback of 5% to 6.67% for new cardholders (for 6 months)   

  • Groceries: 5% cash rebates at Sheng Siong 
  • Utilities: 3% cash rebates on utility bills
  • Shopping: 3% cash rebates at Pet Lovers Centre (for purchases above S$15)
  • Transport and fuel: 20.1% fuel savings at SPC and 2% cash rebates at SpeedyCare

Additional rewards when you spend over S$800:

  • Dining: 10% cash rebates on online food delivery at foodpanda and Deliveroo, and 3% cash rebates on other dining spend.
  • Shopping: 5% cash rebates on online shopping at selected sites like Lazada and Shopee, and 8% cash rebates at POPULAR
  • Telco: 3% cash rebates on phone bills
Reward limit
  • Min. spending of S$500 and min. 5 transactions: Base cashback capped at S$50 per quarter.
  • Min. spending of S$1,000 and min. 5 transactions: Base cashback capped at S$100 per quarter.
  • Min. spending of S$2,000 and min. 5 transactions: Base cashback capped at S$200 per quarter.
  • Additional cashback capped at S$100 per month.
  • Enhanced cashback capped at S$100 per month.

Total cash rebates capped at Daily$81 per month, which is further split into:

  • Groceries: Daily$30 per month
  • Utilities: Daily$3 per month
  • Dining: Daily$15 per month
  • Shopping: Daily$15 per month for online platforms, Daily$15 per month for POPULAR
  • Telco: Daily$3 per month

What would Beansprout do?

The UOB One credit card offers an attractive quarterly cashback of 3.33% cahback on all spending. 

There is also an additional cashback on spending with selected partners such as Grab, Shopee, McDonalds and Cold Storage. 

In addition, new card holders can enjoy an enhanced cashback of 5-6.67% for six months.

This makes it one of the best cashback credit cards in Singapore. 

In addition, we like that we can use the UOB One credit card to meet the credit card spending requirements of the UOB One savings account, which offers an effective interest rate of up to 5.0%. 

This article was first published on 23 February 2024 .

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