UOB One Card Review (2024): Generous Cashback Card For Grab Users And Dairy Farm Shoppers

The UOB One Card is one of the most generous cashback credit cards you can get. However, you'll need to spend at least S$2,000 per month to fully unlock its benefits. Is this the ultimate cashback card for everyday spending?

The UOB One Credit Card offers a tiered cashback system that gives you up to 10% cashback -- 20% if you're a new applicant. This higher cashback rate applies to spends on Grab rides and transactions at Dairy Farm Singapore merchants, MacDonalds', Shopee and SimplyGo. All other spending will be eligible for 3.33% cashback if you meet the spending requirements.

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. 

Read on to find out how to use the UOB One card to your advantage.

If you'd like to check out more credit cards by UOB, check out our blog where we detail which are the best UOB credit cards in Singapore.

• Base cashback is capped at S$50, S$100 and S$200 per quarter. Additional cashback is capped at S$100 per statement month. Hence, the maximum yearly cashback is S$200/quarter + S$100/mth = S$2,000 per year. 

• Enhanced cashback is capped at an additional S$100 per statement month, and is awarded on top of the cashback described above.

• Up to 24% fuel savings at SPC kiosks

• Up to 4.33% cashback on Singapore Power utilities bill

• Annual fee: S$196.20 (1st year waived)

For the categories earning up to 10% cashback, you will earn an additional 10% cashback in quarterly cash rebate so long as you're a new-to-UOB cardholder applying for the UOB One Card from now till 31 December 2024.

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

• If you're wondering which merchants and transactions will earn you cashback, here's a handy table that should serve as a quick reference. 

  Merchant	Additional cashback	Enhanced cashback
  DFI Group (7-Eleven, Cold Storage, CS Fresh, Giant, Guardian, Jasons, Jasons Deli, Marketplace and CART	Up to 6.67%	Up to 10%
  Grab (excluding mobile wallet top-up)	Up to 6.67%	Up to 10%
  McDonalds'	Up to 6.67%	Up to 10%
  Shopee	Up to 6.67%	Up to 10%
  SimplyGo	Up to 6.67%	Up to 10%
  UOB Travel (excluding  online, flight-only bookings and relevant taxes)	Up to 6.67%	n/a
  Shell	1.67%	n/a
  Singapore Power	1%	n/a

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: Greater savings on your supper runs to McDonald's 

Most of us would agree that McDonald's is one of the best fast food restaurants to indulge in classic burgers, fries, ice creams, and the like. In Singapore alone, there are 154 outlets operating on our tiny island – so that definitely puts into perspective how popular McDonald's is among Singaporeans.

In recognition of this, the UOB One Card now includes McDonald's as one of its eligible merchants to earn 10% cashback (or up to 20% for new-to-UOB cardmembers) to score greater savings on your fast food orders.

This cashback rate is notably competitive, particularly when compared to the likes of Standard Chartered Smart Credit Card which only rewards up to 6% cashback on fast food transactions.

So now, you'll have even more excuse reason to eat McDonald's more regularly than you already do. 😉🍔🍟🥤 

You can check out other credit cards to save your next McDonald's order here.

#4: 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. 

#5: Up to 24% fuel savings at SPC

For drivers who regularly fuel up at SPC, you'll be ecstatic to know that the UOB One Card gives you immense savings on fuel – up to 24% savings!

#6: Pair it with your UOB One Account for up to 6% p.a. interest on  your savings

UOB One Account

The UOB One account offers up to 6% p.a. interest on your account balance up to S$150,000 with minimal effort. (You can earn 3% p.a. on your first S$75,000, and 4.5% p.a. on the next S$50,000.)

Simply credit your salary every month via GIRO, and spend a minimum of S$500 on a UOB credit card. As such, 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 Miles, KrisFlyer UOB or UOB Lady’s card instead.

• Annual fee: S$196.20 (First year waived) 

• Late payment charge: S$100 if minimum payment is not received by due date

• Cash advance fee: 8% of due amount, subject to S$15 minimum fee

• 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

• Foreign currency transaction fee: 3.25% on converted amount (1% retained by Mastercard)

• Interest on purchases: 27.8% p.a. on amount unpaid (including late payment charges) until outstanding is paid in full

• Interest on cash advance: 28.5% p.a. from the date of the cash advance until the date the outstanding is paid in full

• Additional interest: 3% p.a. on top of prevailing interest on any remaining unpaid amount if minimum payment is overdue

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

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

• Front and back of NRIC/Passport/Employment Pass

• Salaried employees (Singaporeans/PRs):

• Fixed monthly salary ≥ S$2,500:

• Last 12 months' CPF statement

• Latest original computerised payslip

• Latest Income Tax Notice of Assessment and last 12 months' CPF statement or latest original computerised payslip

• Fixed monthly salary < S$2,500:

• Past 12 months' CPF statement

• Latest 3 months' computerised payslip

• Latest Income Tax Notice of Assessment and last 12 months' CPF statement or latest original computerised payslip

• Length of employment < 3 months: Last computerised payslip, company Letter certifying employment, and monthly salary

• Self-employed: Latest Income Tax Notice of Assessment

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, for up to three consecutive months. It'd also make sense if your two heaviest lifestyle expenditure categories are groceries and Grab rides.

When compared to other cards in the market, the UOB One card sits in between having a good base and additional cashback rate while having a $500 minimum spend. Here’s a look at other similar cards:

• Maybank Platinum Visa Card

• 3.33% on local & foreign currency spend

• $66.67 monthly cashback cap or $2,000 monthly spend

• Minimum spend of $300 for three months

• HSBC Live+

• 5% on Dining, Shopping, Entertainment, Petrol

• $250 monthly cashback cap or $3,125 quarterly spend

• Minimum spend of  $600 for three months

• DBS Live Fresh

• 6% cashback on shopping and transport spend

• Cashback for Shopping capped at $50 per calendar month. Cashback for transport capped at $20 per calendar month

• Minimum spend of $800 per month