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UOB Preferred Platinum Visa Card Review

UOB Preferred Platinum Visa Card Review

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Best for Earning Miles From Everyday Purchases

UOB Preferred Platinum Visa Card Review

Up to UNI$10 per S$5 spent

Rewards

S$150 cashback when applied and spend a minimum of S$1,500 within 30 days

Sign-up Gift

N/A

Minimum spend

The UOB Preferred Platinum Visa Card is one of the best credit cards for earning miles from nearly all spend. Cardmembers can earn up to UNI$10 (or 20 miles) per S$5 spent on online shopping and offline contactless payment. However, the rewards are capped at UNI$2,000 (or 4K miles) per month.

UOB Preferred Platinum Visa Card Rewards

  • Earn up to UNI$10 or 20 miles per S$5 spend on online purchases and entertainment
  • Earn up to UNI$10 or 20 miles per S$5 spend via mobile contactless transactions when you tap and pay
  • Up to 10% cashback on all purchases in-store at participating outlets.
  • Annual fee of S$192.60 is waived for the first year.
  • UOB Dining & Year-Round privileges
  • 10% rebate at Coffee Bean & Tea Leaf and Beanstro
  • 3% rebate at Bread Society, Bengawan Solo, BreadTalk, Hard Rock Café, and Fragrance Foodstuff
  • 2% rebate at Polar Puffs & Cake
  • Enjoy 10x UNI$ when you use Visa payWave
  • 2% rebate at Metro, World of Sports, and Winter Time
  • 3% rebate at bYSI, ColorWash, Crocodile, DHL, and Sephora
  • 5% rebate at Tissot
  • Up to 20% savings on fuel purchases at SPC Stations
  • Pump at Shell using your UOB Debit Card or Credit Card for higher savings of up to 21.15%

Pros

  • You can earn up to UNI$10 for every S$5 spent on selected online transactions.
  •  Another way to earn up to UNI$10 is via mobile contactless transactions.
  • With UOB$ Program, you can earn up to 10% cashback on all purchases from participating outlets
  • With your UOB Debit/Credit Card, you can enjoy fuel savings from SPC Stations or Shell
  • No min. spend requirement to enjoy rewards, making it ideal for spenders with a limited budget.
  • Enjoy S$150 cash credit when you apply and spend at least S$1,500 within 30 days from the card approval date.

Cons

  • The sign-up offer is only available for the first 100 new-to-UOB credit card members.
  • Lacks perks for frequent travelers despite having high miles rates.
  • Rewards are capped at UNI$2,000 per month – equivalent to 4K miles or S$1,000.
  • Not for those uncomfortable with using digital wallets. To earn maximum rewards, you’ll need to use Visa Contactless, Apple Pay, Samsung Pay, or Google Pay.

How to Apply

Minimum Age: At least 21 years old

Minimum Annual Income:

  • Singapore Citizen and Permanent Residents: S$30,000
  • Foreigners: S$80,000

Singapore Citizen/Permanent Resident

  • NRIC (front and back)
  • Income documents, such as the latest Income Tax Notice of Assessment or latest computerized payslip
  • Latest billing proof – at least 6 months, such as telephone bill or utility bill.

Foreigners

  • Valid Passport (with at least 6 months’ validity)
  • Employment Pass (with at least 6 months’ validity)
  • Latest billing proof – at least 6 months, such as telephone bill or utility bill
  • Income documents, such as the latest computerized payslip or company letter certifying employment and monthly salary dated within 3 months

For the full list of documents required, you can click here.

Principal card:

  • S$192.60^ yearly
  • First year card fee waiver

Supplementary card:

  • FREE first card
  • FREE first year* second card
  • After which an annual fee of S$96.30 will be charged.

Fees are inclusive of Singapore’s prevailing Goods and Services Tax (GST)

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How UOB Preferred Platinum Visa Card Compare With Other Credit Cards in Singapore?

Credit Card

Reward Type

Minimum Spend per Month

Reward Cap

UOB Preferred Platinum visa Card

UNI$10 per S$5 online spending

UNI$10 per S$5 spend on mobile device contactless

UNI$1 = 2 miles

Up to 10% cashback on all purchases from participating outlets

S$0

UNI$2,000/month

Citi Cash Back+ Mastercard

1.6% cashback on eligible spend

S$0

Unlimited

Standard Chartered Smart Credit Card

6% cashback from Netflix, Spotify, fast food joints, and more

S$0

Unlimited

Citi PremierMiles Card

S$1 = 1.2 miles for local spend

S$1 = 2 miles for overseas spend

S$1 = Up to 10 miles for select online hotel bookings

S$0

Unlimited

Standard Chartered Unlimited Cashback Credit Card

Up to 1.5% cashback on eligible spend

S$0

Unlimited

American Express True Cashback Card

1.5% cashback on all purchases

Welcome bonus of 3.0% cashback for the first 6 months (min. spend of S$5,000 in 6 months)

$0

Unlimited

 The UOB Preferred Platinum Visa card has one of the highest earn rates. With only S$5 spent on shopping and entertainment, you can earn up to 4 miles. To maximize rewards, you can also use mobile contactless payment to earn bonus rewards. Plus, with the new UOB$ Rebate Program, you can also earn up to 10% cashback on all eligible purchases.

With the other credit cards on the list, you can only earn either miles rewards or cashback. One of the best contenders would be the Citi PremierMiles Card where you can earn up to 6 miles for a $5 local spend – slightly higher than the UOB Preferred Platinum Visa card.

UOB Preferred Platinum Visa Card– Our Verdict

The UOB Preferred Platinum Visa Card is perfect for average spenders looking to earn miles from everyday purchases. Cardmembers can earn UNI$ points whenever they shop online or via contactless payments at cinemas, supermarkets, or restaurants. The UNI$ points can then be converted into miles which is an easy way to accumulate air miles fast.

By taking advantage of the bonus rate of UNI$10 for every $5 spent, you’ll be earning air miles quicker than other credit cards. If you prefer cash rebates, then you can also earn 10% cashback in eligible purchases through the UOB$ Rebate Program.

The best part? There’s no minimum spend requirement. Plus, the annual fee of S$192.60 is waived for the first year.

FAQs

The annual interest rate on purchases is 26.9% per annum. It is also subject to a minimum charge of S$3 and is calculated on a daily basis from the date of the transaction until the outstanding balance is fully paid.

Cash advances are subject to a minimum fee of S$15 and a fee of 8%. On top of that, an interest of 28% per annum is charged on the cash advance amount. This is calculated on a daily basis from the date of the cash advance until it is paid in full.

  • Annual Fee: S$192.60 – first-year annual fee waiver available
  • Supplementary Card Annual Fee: S$96.30
  • Overlimit Fee: S$40
  •  Late Payment Fee: S$90
  • Foreign Currency Transaction Fee: 3.25%

Visa payWave is a fast, secure, contactless way to pay. Simply wave your UOB Preferred Visa physical card in front of a secure reader to pay for your purchases. Card transactions that are performed using your Preferred Visa Card via payWave are considered as a “contactless transaction” and may be eligible for UNI$ rewards points.

Final Thoughts

The UOB Preferred Platinum Visa Card lets you earn air miles fast via online shopping and mobile contactless. Take advantage of the bonus rate of UNI$10 for every $5 spent.

Key Takeaways:

  • With UOB Preferred Platinum Visa Card, you will be rewarded with UNI$ points when you use Apple Pay, Google Pay, Android Pay, and any other mobile wallet approved by UOB.
  • UOB currently offers a S$150 cash credit if you apply and spend at least $1,500 within 30 days.
  • Aside from UNI$ points, cardmembers can also earn instant cashback all year round with the UOB$ Program.

Beyond the rewards rates and cashback, UOB Preferred Platinum Card doesn’t come with a lot of perks. That said, you need to consider your lifestyle and spending habits to determine whether this credit card is right for you.

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