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UOB One Credit Card

by Kshitiz V Sharma on

The Bottom Line

UOB One Credit Card
Above Average But Not Great

10% cashback on Shopee, Grab, SimplyGo, Giant, Cold Storage, CS Fresh, Jasons & UOB travel. All other spending earns 3.33% cashback capped at S$200 / Qtr.

Monthly Spend S$ 1K S$ 2K S$ 4K S$ 6.5K S$ 10K
Net Reward Yield 2.5% 2.2% 2.3% 1.7% 1.3%
Est. Monthly Reward (S$) 20 40 90 110 130
All-Singapore Rewards Rank* 13 14 6 18 26
Within Bank Rank* 4 6 4 5 6
* Based on est. net reward yield for more than 70 credit cards in Singapore, for each monthly spending level. Read about how we calculate the net reward yield here & here.

The UOB One Credit Card gives up to 10% cashback on Shopee, Grab, SimplyGo, Giant, Cold Storage, CS Fresh, Jasons & UOB travel. All other spending earns 3.33% cashback.

Overall, we estimate you can earn a net reward yield of 1.3-2.5% on all your spending with this card in a month.

The UOB One has a complex cashback system. You earn 3.33% on all spending as long as you charge more than S$500 to the card in each of the 3 months of a quarter.

If you miss hitting the S$500 in any month of the quarter, you earn close to zero (0.03%) cashback for the entire quarter.

If you charge between S$500 – 1,000, you also earn an additional 5% cashback for transactions with the selected merchants like Shopee, Grab, SimplyGo, Giant etc.

However at this level of spending, your regular quarterly cashback is capped at S$50. The additional 5% cashback is capped at S$100 per month.

If you charge between S$1,000 – 2,000, your regular quarterly cashback is capped at S$100, while the additional cashback on specified merchants remains at S$100 per month.

On charging more than S$2,000 each month to your card, the quarterly cashback increases to S$200, while the additional cashback remains unchanged.

The relatively low regular quarterly cashback caps make the UOB One a decent credit card for entry level and mid-range spenders (S$500 – S$4,000). However the cap really hurts the reward yield for high-spenders (S$4,000+).


The Rewards

Card UOB One Credit Card
Card Type Cashback
Cashback Features 10% Cashback* on
– Grab
– Shopee
– SimplyGo
– Giant
– Cold Storage
– CS Fresh
– Jasons
– UOB Travel

3.33% Cashback on all other spends

Min. Spend for Enhanced Cashback S$500 per month to qualify for cashback of 3.33% on all spend.
Cashback Caps 3.33% cashback is capped at:
– S$50 / Qtr if monthly spend >S$500
– S$100 / Qtr if monthly spend >S$1,000
– S$200 / Qtr if monthly spend >S$2,000

10% cashback at Shopee, Grab, Cold Storage, UOB Travel etc. is capped at:
– S$100 / Mth

Other Rewards & Benefits – 22.66% off your petrol purchases at SPC
Preferred Redemption Method Cashback against statement balance
* At the time of publishing, UOB was offering new customers a cashback rate of 15% for these merchants for the first 2 Qtrs after sign-up. As this is a temporary promotion, it is not included in our calculations.

Fees & Charges

Card UOB One Credit Card
Income Criteria S$30,000
Annual Fee S$194.40
Min. Annual Credit Card Spend
for Fee Waiver
N/A
Supplementary Card Fee S$97.20 (2nd Card onwards)
Interest Rate 26.90%
Foreign Currency Markup 3.25%
Cash Advance Charge 8% or $15, whichever is higher

The Best Credit Cards in Singapore

The Maybank Family & Friends Credit Card is the best cashback card for most people in Singapore. It has the highest cashback rate of 8% on 5 spending categories of your choice and also the highest monthly cashback cap of S$125.

We estimate you can earn a net reward yield of 3.0 – 4.8% with this card on monthly spends between S$800 – 4,000.

The KrisFlyer UOB Credit Card is the best rewards card in Singapore for most people. You can earn up to 3 miles per dollar spent with this card on dining, travel & online fashion and 1.2 miles per dollar on most other transactions.

We estimate you can earn a net reward yield of 2.5 – 2.8% on all your spending with this card.

The Citi Cash Back+ is the best cashback credit card if you spend more than S$6,000 a month on your card. Its cashback rate of 1.60% with no caps, overall or by category, is one of the highest in Singapore.

Learn more about which is the best card for you by reading our pieces on the best rewards card, the best cashback card and the best card combos in Singapore.

If you drive, consider our piece on the best card for petrol and if you’re a travel bug, read about the best card for travel.

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