By The Boy Who Procrastinates – September 26, 2018
Do you sometimes find yourself coming up short of hitting the minimum monthly spending requirement for your credit card? If so, you might have been missing out on earning the credit card rebate and/or interest from your savings account.
Following from the previous discussion on Active Savings Accounts, the interest received from fulfilling the credit card spending criterion can be rather rewarding. For example, charging $500 of qualifying retail transactions to the Bonus$aver card, along with $100,000 balance in your Standard Chartered Bonus$aver account would earn an interest of approximately $65 in a given month, which is equivalent to 13% of the amount spent. This has not taken into account the interest earned from completing other prerequisites like salary crediting and payment of bills.
Once in a while, I do find myself coming up short of hitting the minimum credit card spending, usually …