Saving & Spending
How To Meet Minimum Spending Requirement On Your Credit Card
By Heartland Boy  •  July 21, 2017
Has it ever occurred to you that you miss out on your cash rebate or savings’ interest because you fail to meet the minimum spending requirement on your credit card? That is because it is common for the banks to mandate that you reach a minimum spending on your credit card before certain lucrative bonus and rewards start to kick in. For instance, Heartland Boy has to ensure that he spends at least $500 per month on his UOB One credit card so that he does not miss out on an annual interest of $775. This is already considered a relatively low minimum spending credit card. Similarly, OCBC 365 credit card requires cardholders to spend a minimum amount of $500 per month before an additional 0.3% annual interest rate is applicable for the cardholder’s OCBC 360 savings account. To qualify for cash rebates of more than 0.3%, the ......
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By Heartland Boy
Heartland Boy is a young working adult who pretends to be competent in the real estate industry despite graduating with only a Business Management degree. Outside of work, he analyses stocks, reits and property for investment to build passive income. He is also a stickler for all things that represent value-for-money.
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