Menu
 

UOB YOLO Credit Card Review

A great entry-level cashback card if you regularly head out for dining, drinks and entertainment.

Pros:

  • Low minimum monthly spend of $600
  • Headline cashback rate of 8% on dining, entertainment and Grab
  • Entertainment perks and dining deals with YOLO Eat!
  • Earn higher interest on your savings by pairing the UOB YOLO card with your UOB One Account

Cons:

  • Low monthly cashback cap of $60
  • Low 0.3% cashback on all other spend
  • Does not reward spend on essentials like fuel, groceries or telco bills
Summary of Product
Headline Cashback Rate: 8%
Minimum Monthly spend: $600
Income Requirement: $30,000 (Singaporeans/PR), $40,000 (Foreigners)
Minimum Age: 21
Annual Fee (Waiver): $192.60 (First year waived)
Sign-up promotion: Yes ($50 cash for new and existing cardmembers)

Table of Content

Why you should choose the UOB YOLO credit card

Do you regularly head out for dining and drinks?
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.
Do you spend at least $600 every month?
The UOB YOLO credit card is an entry-level cashback card with one of the lowest minimum monthly spends required. At just $600, UOB YOLO card holders with an active lifestyle can enjoy standard weekday and weekend cashback features on Grab, dining and entertainment (local and overseas) including online fashion and travel transactions. If your transactions do not fall into these categories, then the UOB YOLO credit card offers a 0.3% cashback on all other spend. A minimum spend of $600 per month (or $7,200 per year) means you get a maximum cashback of $60 per month (or $720 per year). Now that’s a lot of savings!
Do you shop and book your travel online?
Online shopping and travel spending during weekdays will earn a 3% cashback. On weekends, there’s an extra 5% cashback bonus for a total of 8% cashback. That’s a lot of savings if you are shopping online for your clothings needs or booking online for your next travel destination. UOB credit cards also offer an excellent 12% off worldwide bookings on Agoda, making it one of the best cards for online travel bookings on Agoda.
Do you use ride-sharing or taxis regularly?
Commuters who regularly use Grab locally or around the region are rewarded with a generous 8% cashback on weekends and 3% cashback on weekdays. If you think about it, this is one card that rewards you while you enjoy that dinner out with friends, shop for clothes and Grab home at the end of the day.

Using the UOB YOLO credit card in your favour

Like its name suggests, “You Only Live Once”. The UOB YOLO credit card is ideal for consumers who love dining and entertainment on weekend. With its low minimum spend, it is perfect for those who may have just gotten their first paycheck and want to enjoy the benefits of having their first credit card without breaking the bank. Its low monthly cashback cap of $60 per month means you’re better off with another card if you regularly spend more than $600 per month on the aforementioned cashback categories.

Who can apply?

Age Eligibility At least 21 years of age
Income Eligibility Singaporeans/PRs: $30,000 of annual income
Foreigners: $40,000 of annual income

Charges or fees you should be aware of

Annual Fees $192.60 (First year waived)
Late Payment Charge $90
Interest on Purchases 25.9% per annum subjected to compounding if full payment is not made by payment due date.
Interest on Cash Advance 28% per annum compounded daily on the amount withdrawn from the transaction date until the date that full payment is made.

How to apply?

Decide to pick up this card? Click on the “Apply Now” button and complete the application form on SingSaver site. Here is what you will need during the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • For salaried employees,
    • Past 12 months' CPF statement (if Singaporean/PR); OR
    • Latest Income Tax Notice of Assessment and latest original computerised payslip
  • For self-employed,
    • Latest Income Tax Notice of Assessment and latest original computerised payslip

Similar cards to consider

Daunted by the minimum spend or looking to compare it with another cash back card?   No minimum spend cashback card: Standard Chartered Unlimited Credit Card Shopping Credit Card: OCBC Frank Credit Card Dining Credit Card: OCBC 365 Credit Card
Looking for other credit cards? Check out the Best Credit Cards in Singapore 2019.