Saving & Spending
Nerfed: Cashback Rate for UOB One Slashed to 3.33% From 5%
By Sethisfy  •  May 4, 2022
UOB One has quietly changed the terms and conditions of UOB One, and it’s a big nerf. Thanks to eagle-eyed ZM for spotting this and sharing in the chat, we discovered that UOB One is cutting its 5% cashback tier to 3.33% for spending in your July statement (calendar month of June). No SMS to communicate this change? 💔 TL;DR
  • Executive summary: highest cashback rate has dropped to 3.33%; SimplyGo added as a very trivial consolation
  • People paying mortgage through CardUp → no choice but to carry on
  • People paying income tax through CardUp → for miles, no choice; for cashback, AXS might be better
  • Tier 1 to Tier 3 users without specialised spending (e.g. CardUp, the bonus cashback merchants) → time to consider other cards
  • People with lots of spending on bonus cashback merchants → still a pretty decent card
  • UOB should improve the way they handle nerfs particularly for UOB One
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By Sethisfy
When I was a kid, people told me that I’d miss being a student once I became an adult and had grownup responsibilities. I’d start missing exams when I had to go to work. I’d miss having pocket money when I have to pay my taxes. Been an adult for a decade now and I think… I like it. I’m never going back to being a kid again!
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