UOB YOLO Credit Card Review (2020): Made For Your Weekend Entertainment

An unapologetically millennial card that awards savings on dining, Grab and entertainment.

Like its name suggests, ‘You Only Live Once’ –– it’s the card to live life hard. While at it, you’ll get to claw back some measure of savings, as the UOB YOLO credit card offers up to 8% cashback on activities ranging from boozy affairs to Grab rides home after a night out. 

8% is undoubtedly high by today’s cashback credit cards’ standards, but this only holds during weekends. Outside of this ‘Cinderella’ window, A.K.A. weekdays, the cashback rate falls to 3%; because of this, you’d want to be a little more aware of when you’re brandishing your ultra-cool azure blue plastic. 

(Fun fact: The 16-digit card number is arranged in a ‘stanza’-like fashion on the top right, with 4 lines of 4 digits. This ‘Quick Read’ design is meant for you to peep it at a glance.)

What the UOB YOLO Card can do for you

UOB YOLO Card product summary:

• Weekend cashback: 8% on dining, entertainment and Grab rides 
• Weekday cashback: 3% on dining, entertainment, Grab, travel and online shopping spends 
• Min. monthly spend: $600
• Freebies: Hundreds of exclusive deals and discounts across dining, travel, online shopping and entertainment 

Pros	Cons
Relatively low qualifying monthly spend of $600	Monthly cashback cap of $60
Highest cashback rate of 8% on dining, entertainment and Grab (weekends only)	Low 0.3% cashback on all other spends
Great variety of entertainment perks and dining deals with YOLO Eat!	Does not reward spends on other essentials like fuel, groceries or telco bills
Earn up to 2.5% interest on your savings by pairing the UOB YOLO card with the UOB One Account

Why you should choose UOB YOLO credit card

#1: Legit savings on dining 

UOB YOLO credit card offers 8% cashback on weekends and 3% cashback on weekdays on dining and entertainment (local and overseas), making it one of the best credit cards for dining. Under the YOLO Eat! Program, you’ll find even more deals on popular restaurants and bars such as Crystal Jade, Dancing Crab, Haidilao, The White Rabbit and more. There are also discounts to be had on Deliveroo, foodpanda and Grain, in case it’s a couch potato kind of day for you. 

#2: Do you use online travel booking sites often?

Similarly, you can earn 8% cashback on travel, provided that you’re making a purchase under the UOB Travel portal on weekends. Other than that, you may find commendable discounts in the offing for online travel bookings (i.e. Agoda) and major airlines (i.e. Emirates), as well as $500,000 in complimentary travel insurance coverage. If travelling out the country isn’t possible, you can still fall back on UOB YOLO’s deals for luxurious staycations. 

#3: Grab here, Grab there, Grab everywhere 

You probably have another party to get to next –– time is of the essence! Besides the unparalleled convenience offered by ride-hailing, you’ll enjoy up to 8% cashback when you commute via Grab on weekends. Again, weekday Grab rides earn you 3%. Note that Grab e-wallet top-ups had since been excluded as a qualifying transaction.  

#4: Supercharge your savings account

If you’ve got an existing UOB One Account, make the most of it by applying for the UOB YOLO –– or other UOB credit cards for the matter. Credit card spends of at least $500 is a one of the recognised categories to earn you higher interest rates, up to a maximum of 2.5% p.a. 

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SingSaver Promotion: Get $80 cash via PayNow when you apply as a new to UOB credit cardmember. Existing UOB cardmembers can get $20 GrabFood vouchers. This promotion is valid from 24 – 15 October 2020.

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For whom is the UOB YOLO Card best for?

For the young and the young-at-heart to enjoy up to $60 in savings each month, while living life to the fullest. Beyond the max $60 cashback, YOLO-ers can increase the value of their savings using the 1-for-1 dining deals and discounts under YOLO Eat! Given the F&B perks and Grab cashbacks, we’d reckon that UOB YOLO would make a great starter credit card for fresh grads who are about to get a taste of purchasing power. 

What charges or fees should you look out for?

• Annual fee: $192.60 (First 1 year card fee waiver)
• Late payment charge: $90
• Interest on purchases: 25.9% per annum, calculated daily from the date each transaction is posted to your card account until full payment is received
• Interest on cash advance: 28% per annum will be charged upon the withdrawal date until the withdrawal amount and the relevant fees are paid in full

Eligibility criteria

• At least 21 years of age
• Minimum annual income for Singapore citizens and PRs: $30,000
• Minimum annual income for foreigners: $40,000

How to apply? 

Click on the ‘Apply Now’ button in this article 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

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