If you’re looking for a credit card that rewards you for your spending, the UOB Preferred Platinum Visa Card could be the perfect choice for you. This card offers high rewards earn rates in specific categories, making it an optimal choice for consumers looking to maximize their spending benefits. With a focus on online shopping, entertainment, and mobile contactless spend, this card is perfect for those who want to earn rewards while enjoying their favourite activities.
One of the key features of the UOB Preferred Platinum Visa Card is its emphasis on high rewards earn rates. The card offers up to 10X UNI$ on online shopping, entertainment, and mobile contactless spend, making it an excellent option for those who spend a lot in these categories. Additionally, the card offers 1X UNI$ on all other spend, ensuring that you’re always earning rewards no matter where you shop.
Another great feature of the UOB Preferred Platinum Visa Card is its instant cashback program. With the UOB$ Programme, you can earn cashback on your spending at over 1,000 participating merchants in Singapore. This makes it easy to earn rewards on your everyday purchases, and the cashback can be used to offset your credit card bill or redeemed for other rewards.
Key Takeaways
- The UOB Preferred Platinum Visa Card offers high rewards earn rates in specific categories, making it an optimal choice for those who want to maximize their spending benefits.
- The card offers up to 10X UNI$ on online shopping, entertainment, and mobile contactless spend, as well as 1X UNI$ on all other spend.
- With the UOB$ Programme, you can earn cashback on your spending at over 1,000 participating merchants in Singapore.
Key Features of UOB Preferred Platinum Visa Card
If you’re looking for a credit card that rewards you for your everyday spending, the UOB Preferred Platinum Visa Card could be the perfect choice for you. Here are the key features of this card that make it stand out from the rest:
Rewards and Uni$ Earning
With the UOB Preferred Platinum Visa Card, you can earn up to UNI$10 per S$5 spend on Selected Online Transactions (whether made locally or overseas) such as shopping for apparel, bags, shoes, accessories, electronics, ordering for groceries, dining or food delivery and even spending at drugstores or on entertainment and ticketing. You can then redeem your UNI$ for rewards such as gifts, vouchers, air miles, or cashback through the UOB rewards catalogue.
Contactless and Online Shopping Perks
The UOB Preferred Platinum Visa Card also offers great perks for contactless transactions and online shopping. You can earn 4 miles per dollar (MPD) for mobile contactless transactions and online shopping, excluding travel. Plus, you can enjoy bonus rewards for Grab mobile wallet top-ups and SimplyGo transactions made with your card.
Dining and Entertainment Benefits
If you’re a foodie or love entertainment, the UOB Preferred Platinum Visa Card has got you covered. You can earn up to UNI$10 per S$5 spend on dining and entertainment transactions made with your card. Plus, you can enjoy cashback on all purchases in-store at over 1,000 participating merchants (across all categories islandwide) and use it to offset your next purchase.
Overall, the UOB Preferred Platinum Visa Card is an excellent choice for those looking for a credit card that rewards them for their everyday spending. With its great rewards, cashback, and perks for contactless transactions, online shopping, dining, and entertainment, this card is a must-have for anyone looking to get the most out of their spending.
Fees and Charges
If you’re considering the UOB Preferred Platinum Visa Card, it’s important to understand the fees and charges associated with it. Here’s a breakdown of the costs you can expect:
Annual Fee and Waivers
The UOB Preferred Platinum Visa Card has an annual fee of £100. However, the first year’s fee is waived, making it a great option for new cardholders. Additionally, the fee for the first supplementary card is also waived. This means that if you’re looking to add a family member or friend to your account, you won’t have to pay any extra fees.
Foreign Transaction and Other Fees
If you plan on using your UOB Preferred Platinum Visa Card for international purchases, you should be aware of the foreign currency transaction fee. This fee is 2.8% of the transaction amount and is charged in addition to the purchase price. However, there are some exceptions to this fee. For example, if you make a purchase in Singapore dollars while overseas, you won’t be charged the foreign currency transaction fee.
In addition to the foreign currency transaction fee, there are a few other charges you should be aware of. For example, if you request a replacement card, you’ll be charged £20. If you make a late payment or exceed your credit limit, you’ll be charged a fee of £25. Finally, if you use your card for a cash advance, you’ll be charged a fee of 5% of the transaction amount or £15, whichever is greater.
It’s important to read the full terms and conditions of the UOB Preferred Platinum Visa Card before applying so that you understand all of the fees and charges associated with it. Overall, however, the UOB Preferred Platinum Visa Card is a great option for those looking for a rewards credit card with a waived annual fee for the first year.
Exclusions and Limitations
Capped Rewards and Exclusions
While the UOB Preferred Platinum Visa Card offers attractive rewards, there are some exclusions and limitations that you should be aware of. Firstly, rewards are capped at a maximum of $1,200 per calendar year. This means that any spend beyond this limit will not earn you any additional rewards.
Furthermore, some categories of spending are excluded from earning rewards. These include payments to non-financial institutions, quasi-cash transactions, and payments made through iPayMy, RWS-Levy, Smoove Pay, SingPost – SAM, and Razer Pay. Additionally, insurance payments, wire transfers, payments to hospitals, and payments for utilities are not eligible for rewards.
Payments and Transactions Not Eligible
It is important to note that some transactions and payments are not eligible for rewards, regardless of the category they fall under. These include balance transfers, cash advances, Grab transactions, and payments made through AXS and SAM machines.
Furthermore, transactions that are not properly identified with transaction descriptions may not be eligible for rewards. This means that if a transaction is not clearly identified as a qualifying transaction, it may not be awarded Uni$.
In conclusion, while the UOB Preferred Platinum Visa Card offers attractive rewards, it is important to be aware of the exclusions and limitations. By understanding these limitations, you can make the most of your card and earn rewards for the qualifying transactions.
Additional Card Benefits
As a UOB Preferred Platinum Visa Cardholder, you’ll enjoy a range of additional benefits beyond the rewards program. These benefits include insurance coverage, lifestyle perks, and digital wallet services.
Insurance and Travel Perks
As a UOB Preferred Platinum Visa Cardholder, you’ll receive complimentary travel insurance coverage of up to $500,000 when you charge your travel expenses to your card. This coverage includes personal accident insurance, medical expenses, and travel inconvenience benefits such as trip cancellation and baggage delay.
In addition to travel insurance, you’ll also receive personal accident insurance coverage of up to $500,000. This coverage applies to accidents that occur while you’re traveling or commuting to work.
Lifestyle and Convenience Services
The UOB Preferred Platinum Visa Card offers a range of lifestyle and convenience services to make your life easier. With UOB’s digital wallet, you can easily make payments using your smartphone, without the need for physical cards or cash.
As a UOB credit cardholder, you’ll also enjoy exclusive promotions and discounts at a variety of merchants. For example, you can enjoy up to 10% off at selected restaurants, or receive a complimentary bottle of wine when you dine at participating establishments.
If you’re a frequent traveler, consider upgrading to the UOB Visa Signature Card or the UOB PRVI Miles Card. These cards offer additional benefits such as airport lounge access, accelerated miles earning, and more.
Overall, the UOB Preferred Platinum Visa Card is a great choice for anyone looking for a versatile and rewarding credit card. With a range of benefits and promotions, you’re sure to get the most out of your spending.
Eligibility and Application
To be eligible for the UOB Preferred Platinum Visa Card, you must be at least 21 years old and have a minimum annual income of $30,000 if you are a citizen or permanent resident of Singapore. If you are a foreigner, you must have a minimum annual income of $80,000.
The application process for the UOB Preferred Platinum Visa Card is simple and straightforward. You can apply online or visit any UOB branch in Singapore to submit your application. You will need to provide your personal and financial details, such as your income, employment status, and credit history.
Once you have submitted your application, UOB will review it and determine if you meet the eligibility criteria. If you are approved, you will receive your new UOB Preferred Platinum Visa Card within 5 to 7 working days.
It is important to note that the UOB Preferred Platinum Visa Card comes with terms and conditions that you should be aware of. For example, to be eligible for cash credits, you must meet the minimum spend requirement of $1,000 per month for 3 consecutive months from the date of card approval. Additionally, the cash credits are only available to the first 100 customers who meet the spend requirement.
Overall, the UOB Preferred Platinum Visa Card is a great option for local Singaporeans who are looking for a credit card that offers cashback rewards for everyday transactions. With its simple eligibility criteria and easy application process, it is definitely worth considering if you are in the market for a new credit card.
Rewards Redemption and Partners
When it comes to rewards redemption, the UOB Preferred Platinum Visa Card offers a wide range of options to choose from. You can redeem your UNI$ for rewards and cash rebates across the widest selection of dine, shop, and travel merchants. With over 1,000 rewards across dine, shop, travel and more, you’ll have all the right deals for your lifestyle needs.
One of the most popular redemption options is KrisFlyer miles. You can convert your UNI$ into KrisFlyer miles at a rate of 1 UNI$ to 2 KrisFlyer miles. This is a great option for those who frequently travel within Asia and beyond.
If you prefer to redeem your rewards for cash rebates, you can do so easily with the UOB Preferred Platinum Visa Card. You can auto-convert your UNI$ into cash rebates, which will be credited to your account automatically. This is a great option for those who want to save money on their everyday expenses.
The UOB Preferred Platinum Visa Card also offers exclusive deals and discounts with its partners. You can enjoy curated UOB Card deals, cashback and rewards with UOB Rewards+. With the UNI$ programme, you can redeem for things you love, pay your bills, or auto-convert to cash rebates! You can also get the most out of your spend with UOB Rewards+ and our suite of credit cards that give you additional cashback, miles or rewards points.
If you frequently shop at supermarkets, you’ll be pleased to know that the UOB Preferred Platinum Visa Card offers up to 10% SMART$ rebate at participating supermarkets. This is a great way to save money on your grocery bills.
When it comes to overseas spending, the UOB Preferred Platinum Visa Card is one of the best credit cards to use. You can earn 4 miles per dollar for online spending (excludes travel) and offline contactless payment. This makes it a great option for those who frequently travel or shop online.
Finally, if you’re looking to invest your money, the UOB Preferred Platinum Visa Card offers exclusive investment privileges. You can enjoy preferential rates on unit trusts and other investment products, as well as access to exclusive investment seminars and events.
Overall, the UOB Preferred Platinum Visa Card is a great choice for those looking for a credit card that offers a wide range of rewards redemption options and exclusive deals with partners.
Frequently Asked Questions
What are the latest promotions available for the UOB Preferred Platinum Visa Card?
As of February 2024, UOB is offering up to $200 cash credits when you apply for a UOB Preferred Platinum Visa Supplementary Card. To be eligible, you must be one of the first 300 customers to meet the Minimum Eligible Spend requirements for three consecutive months.
How can you maximise rewards with your UOB Preferred Platinum Visa Card?
To maximise your rewards, you should use your UOB Preferred Platinum Visa Card for your daily essentials such as dining, grocery shopping, and entertainment expenses. You can also charge your online shopping and entertainment expenses to maximise the rewards.
What are the exclusive benefits that come with the UOB Preferred Platinum Visa Card?
The UOB Preferred Platinum Visa Card comes with a range of exclusive benefits, including discounts at participating merchants, complimentary travel insurance, and access to Visa Signature Concierge services.
Can you explain the rewards structure for the UOB Preferred Platinum Visa Card?
The rewards structure for the UOB Preferred Platinum Visa Card is straightforward. You earn 1 UNI$ for every $5 spent in Singapore Dollars and 1 UNI$ for every $5 spent in foreign currency. 1 UNI$ is worth 2 airline miles, so that’s an equivalent earn rate of 0.4 mpd for both local and foreign currency spending.
Are there any annual fee waivers or reductions currently offered for the UOB Preferred Platinum Visa Card?
UOB currently offers an annual fee waiver for the first year for both the principal and supplementary cardholders. For subsequent years, the annual fee is waived with a minimum spend of $18,000 per annum.
How does the UOB Preferred Platinum Visa Card compare with other cards in terms of travel perks?
The UOB Preferred Platinum Visa Card offers a range of travel perks, including complimentary travel insurance, access to Visa Signature Concierge services, and discounts at participating merchants. However, it may not offer as many travel perks as some other cards on the market.