Saving & Spending
Tragic: Visa Reclassifies Grab Top Ups, Virtually No More Rewards Left
By Sethisfy  •  July 21, 2020
The usefulness of GrabPay and GrabPay MasterCard has been on a clear downward spiral since late last year:
  • 16th Dec 2019: AXS blocks all payment via GrabPay and GrabPay MasterCard
  • 18th Dec 2019: Mastercard reclassifies Grab top-ups, excluding Mastercard cards from getting rewards
  • 1st Mar 2020: Amex to stop giving miles for Grab top-ups (cashback is still applicable)
  • 2nd Mar 2020: GrabRewards nerfed (from 10 to 4 points per dollar spent)
  • 16th Mar 2020: UOB One stopped giving cashback on Grab top-ups
We can add one more final nail to the coffin with the newest bullet point:
  • 17th Jul 2020: Visa reclassifies Grab top-ups, excluding Visa cards from getting rewards
For the uninitiated, Grab top ups have been excellent for two main reasons: firstly, conditional cards used to give high cashback/miles when you topped up your Grab account. You can then spend these credits anywhere, thus bypassing the pesky conditions high earn rate cards tend to have. This allows the...
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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