Thursday, October 24, 2013

Random thoughts: My unhappy experience with UOB one card

I have been using the UOB one card for about 1 year already.

I focus all my purchases on one card, to get maximum benefits. Prior to my UOB card, I have OCBC Titanium, and I spend about $900-$1000 a month, for that I usually get around $280 amount of rewards in terms of redeemed gift-vouchers.

For UOB one card, I should get $80 cash rebate per quarter, and with that about $320 cash rebate, I thought cash is more useful than vouchers and given the quantum of reward is higher, I should go for that.

Problem is, I only got $80 rebate for the first quarter, thereafter $30. 

Here is how it works, spend minimum of $300 per month with at least 3 transactions for 3 months, you get $30 rebate, if you spend $800 per month, for 3 months, you get $80, with $1500 every month, you get $150

When the telemarketer call me, touting rebate return of about 3%, I thought it is quite decent. I ask him what happens if there is a particular month I spend a lot, maybe more than $1500, but there is a month, I fall below $800, will I get the lowest $30 rebate. He says the bank calculate the average. Hmm.. fair enough for me.

Turns out, it was not true. They will take the lowest tier to determine their rebate, you can spend 1 million for 2 months, as long as you spend less than $800 in the third month, you will be entitled to only $30 rebate.

I have been getting $30 rebate for 2 quarters, I did not calculate if I hit $2400 in a quarter for the first quarter, so I let it go.

This time round, I check my accounts, I paid $1517 in July, $1058 in August and $790 in September, so I spend more than $3300 dollars, and was only $10 short of the $790 quantum, and I get back $30, my rebate is less than 1%, significantly worse off then holding on and spending on my OCBC card. 

I call the bank, told them about my experience, the customer service guy was quite polite, told me about the tier system, which I said I understand, but was told the bank take into account the spending of the quarter as an Average. He ask for name of telemarketer, I said I didn't ask. He told me he would put up an appeal for me, after I used the word "misrepresentation". 

Don't get me wrong, I appreciate the customer service man efforts to resolve my problems, and I don't really care for the additional $50 in rebate!!! I am upset because I felt CHEATED.

I have decided to cancel the card regardless of the result of the appeal. At least I can use my OCBC rewards to exchange for mooncakes to make my mum-in-law happy.



  1. Honestly, the rebate cards all work this way, and your effective rebate usually ends up being less than the advertised rate. I used to have the UOB One Card but I don't use it anymore (defunct); instead I've switched to DBS which has a card that can accumulate points. At least I can redeem rewards now at my own leisure.

  2. Hi MW,

    Ya, I stopped swiping that card, will call to terminate it soon. Plain vanila products are still the best, luckily I didn't cancell my previous card