UOB One Card Review (2023): Generous Cashback Card For Grab Users And Dairy Farm Shoppers

Kendra Tan

Kendra Tan

Last updated 30 January, 2023
If you can spend S$2,000 for three consecutive months, the UOB One could be the most generous cashback card around. Otherwise, the base 3.33% cashback isn’t too shabby either. 

The UOB One credit card offers a tiered cashback system that gives you up to 15% cashback. This higher cashback rate applies to spends on Grab rides and purchases at Dairy Farm Singapore merchants.  All other spending will be eligible for 3.33% cashback. Read on to find out how to use the UOB One card to your advantage.


What the UOB One credit card can do for you

UOB_ONE

UOB One card product summary:

  • Highest cashback rate you can earn: 15% 
  • Minimum monthly spend on 5 purchases or more:
    • Min. S$2,000 spend for three consecutive months: Additional 6.67% cashback + Enhanced 5% cashback
    • Min. S$500 or S$1,000 spend for three consecutive months: Additional 5% cashback + Enhanced 6.67% cashback
    • Extra 1.67% cashback on Shell petrol transactions
    • Extra 1% cashback on Singapore Power utilities bill
  • Maximum cashback earned:
    Base 3.33% + Bonus 11.67% = Up to 15% cashback

    Base cashback is capped at $50, S$100, or S$200 per quarter, not including additional & enhanced cashback. Hence, cardholders can earn a combined total cashback of up to S$2,000 cash rebates in a year.
  • Annual fee: S$194.40 (first year waived)
Pros Cons
3.33% base cashback on all qualifying retail spend Minimum monthly spend of S$2,000 (with minimum 5 purchases) to earn maximum cashback
Up to 15% (new-to-UOB cardmembers) or 10% cashback on:
- Shopee,
- Grab services,
- Dairy Farm Group merchants (e.g. Cold Storage, Giant, Guardian, 7-Eleven), and
- UOB Travel Planner transactions
Quarterly cashback only
Up to 21.15% cashback at Shell
Up to 22.66% cashback at SPC
Enhanced cashback (5% or 6.67%) only applicable to new-to-UOB cardmembers applying for UOB One Card

Application must be between 1 Oct 2022 to 30 Jun 2023
Additional 5% cashback for eligible Shell transactions
Additional 4.33% cashback for Singapore Power utility bills
Cashback will be forfeited upon card termination as all benefits and privileges offered by the card will no longer available
Up to S$2,000 total cashback per year  
For deposits of S$75,000: Up to 3% p.a. interest on your UOB One savings account 

For deposits of S$100,000: Up to 5% p.a. interest on your UOB One savings account
 

For the categories earning up to 10% cashback, you will earn an additional 5% cashback in quarterly cash rebate so long as you're a new-to-UOB cardholder applying for the UOB One Card between 1 October 2022 to 30 June 2023.

How much quarterly cashback you earn depends on how much qualifying spend you satisfy each month.

As a base, everyone earns the standard 3.33% cashback with a minimum S$500, S$1,000, or S$2,000 spend on at least 5 transactions per statement month.

Next, the additional cashback and enhanced cashback are separated into two tiers each:

  • Tier 1: Min. S$500 / S$1,000 monthly spend 
  • Tier 2: Min. S$2,000 monthly spend
For 3 consecutive months 📅
Min. S$500 / S$1,000 spend per month
Min. S$2,000 spend per month
Base cashback
3.33%
Additional cashback
5%
6.67%
Enhanced cashback
(For new-to-UOB cardmembers only)
6.67%
5%
Total cashback earned
Existing UOB cardmembers: 10%
New-to-UOB cardmembers: 15%

 


Why should you choose the UOB One credit card?

UOB_ONE

If you easily spend S$500 a month on your credit card, take Grab rides and shop at Shopee, Cold Storage or Giant, the UOB One credit card could be the one to add to your wallet. 

#1: Earn 10% cashback on all your Grab rides

UOB One credit card offers a generous cashback on all your Grab rides of up to 10%.

Even if you fail to spend $2,000 for three consecutive months, you will still be earning a good additional 5% cashback as a consolation. However, remember that this cashback only applies to Grab rides which are paid directly with your UOB One credit card.

Mobile wallet top-ups are excluded from getting cashback.

#2: Save on 10% cashback when you spend at your favourite grocers

If your go-to supermarket is Cold Storage or Giant, you’re in luck. UOB One especially rewards you with up to 10% cashback for purchases made at Dairy Farm Singapore merchants. This includes Cold Storage, Giant, Guardian, 7-Eleven, Market Place, Jason's and Jason's Deli.

Once again, if you fail to hit the maximum S$2,000 spend tier, you'll still earn a steady 5% cashback on your groceries.

Alternatively, you can also check out this article for the best grocery credit cards in Singapore.

#3: Additional 1% cash rebate on your utility bills 

The UOB One Card rewards you with an additional 1% on your Singapore Power Utilities bills when you qualify for your quarterly cash rebate. This adds up to a total of 4.33% cashback on your utility bill. 

#4 Up to 21.15% fuel savings at Shell and 22.66% fuel savings at SPC

For drivers loyal to Shell and SPC, you'll be ecstatic to know that the UOB One Card gives you immense savings on fuel – up to 21.15% savings at Shell and 22.66% savings at SPC.

💡 Pro-tip: Shave off even more savings of 27.8% discount at Shell when paying using the Shell Value Drive Card and UOB One Card together.


#5: Pair it with your UOB One Account for up to 7.8% p.a. interest on  your savings

The UOB One account offers up to 5% p.a. interest on your first S$100,000 with little effort required.

All you have to do is to credit your salary every month and spend a minimum of S$500 on a UOB credit card. The UOB One credit card would be the perfect card to match this savings account. 

However, if you prefer chasing miles you can consider the UOB PRVI, KrisFlyer UOB or UOB Lady’s card instead.

Read more:
UOB PRVI Miles Visa Credit Card Review: For Frequent Travellers
KrisFlyer UOB Credit Card Review: For SIA & Scoot Perks
Best Women's Credit Cards in Singapore (2023)


For whom is the UOB One Card best for?

UOB_ONE

Those who care enough to count their cashback dollars and take the title of 'Singapore's most generous rebate card' seriously. UOB One's quarterly cashback structure is anything but simple, and it'll demand the highest order of expense-tracking efforts. You'll have to be disciplined enough to take a measured approach to your monthly spending, up to three consecutive months. It'd also make sense if your two heaviest lifestyle expenditure categories are groceries and Grab rides.

 

What charges or fees should you look out for?

  • Annual fee: S$194.40 (first year waived) 
  • Late payment charge: S$100 if minimum payment is not received by due date
  • Minimum monthly payment: 3% of current balance or $50, whichever is higher, plus any overdue amounts
  • Overlimit fee: S$40 if the total outstanding card balance exceeds the total credit limit at any time
  • Interest on purchases: 26.9% p.a. on amount unpaid (including late payment charges) until outstanding is paid in full
  • Interest on cash advance: 28% p.a. from the date of the cash advance until the date the outstanding is paid in full

Eligibility criteria

  • At least 21 years of age
  • Minimum annual income for Singapore citizens and PRs: S$30,000 or a fixed deposit collateral of at least S$10,000
  • Minimum annual income for foreigners: S$40,000 or a fixed deposit collateral of at least S$10,000

How to apply? 

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest Income Tax Notice of Assessment and latest original computerised payslip


Read these next: 
Best Cashback Credit Cards In Singapore
Citi Cash Back+ Mastercard® Card Review: 1.6% Cashback On All Spend
OCBC Titanium Rewards Card: One Shopping Card You’ll Want In Your Wallet
UOB One Account Review
Best Grocery Credit Cards in Singapore

Avid promo code hunter and haggler. Kendra doesn’t like paying full price for anything. She’s the best person to bring along if you’re travelling on a budget. Have an interesting story to tell? E-mail her at kendra.tan@singsaver.com.sg