• UOB YOLO Credit Card
    Credit Card BYTES FROM OUR KITCHEN

    UOB YOLO Credit Card

    The UOB YOLO Card is a credit card specifically aimed at the younger Singaporean generation. Named after the popular phrase ‘You Only Live Once’, the card offers an array of cash rebates and benefits.

    UOB YOLO Card Review

    It is a cashback card for the trendy Singaporean population and can be best used for travelling, watching movies, and dining purposes. You will get benefits of up to 16% on dining and entertainment. You will also get 3% cash rebate on online travel and fashion.

    Features

    • The 16-digit credit card number is displayed vertically instead of horizontally, giving it a versatile look.
    • The card can be linked with your UOB One savings account and used as an ATM card. It can be used as an MRT card as well.
    • The card has an annual fee of S$192.60 and this is waived for the first year. The first supplementary card is free and the second supplementary card is charged at S$96.30.
    • You can use this card to pay using your mobile phone. You can use Apple Pay, Android Pay, Samsung Pay, and UOB Mighty to make secure payments at more than 10,000 stores or establishments.

    Benefits

    • You will get cash rebates on dining, entertainment, online fashion shopping and travel.
    • You can enjoy exclusive YOLO Eat! perks across Singapore.
    • You can get up to 3.33% p.a. interest rate on the UOB One account.

    Promotions

    • Ah Koi’s Kitchen: If you dine at Ah Hoi’s Kitchen, you can get up to 10% off on la carte items. This promotional offer is valid until 31 May 2018.
    • Christian Dada: If you shop at Christian Dada using this card, you can get up to 10% off on full priced items with a minimum card purchase of S$800. This promotional offer is valid until 1 September 2018.
    • Diane von Furstenberg: For all your retail purchases at Diane von Furstenberg, you are eligible to get up to 10% off on regular priced items. This promotional offer is valid until 1 October 2018.
    • Muthu’s Curry: Get 10% rebate on spending at least S$30 at the Race Course Road outlet of Muthu's Curry. The offer is valid until the bank decides to discontinue it.

    Joining Benefits/Perks

    • New card applications: Apply for the UOB YOLO Card online and get up to S$80 as cash credit. Only the first 400 applicants can enjoy this cashback offer. You need to spend at least S$600 within a month of card approval. The offer expires on 28 February 2018.
    • YOLO upsizing offer: Link you UOB YOLO Card to the UOB One Account and get cash credit of S$20. Additionally, if you decide to invest in Unit Trusts, you will get S$100 worth of Unit Trusts.

    Reward Programme

    • You are entitled to get up to 16% rebate on your weekend dining and entertainment spends (local and overseas spends). This is available only if you register for the promo by 28 February 2018, and spend at least S$600 every month.
    • You will get up to 3% rebate on your weekday dining and entertainment.
    • You will get up to 3% cash rebate on your online fashion purchases and travel transactions.
    • You will also get 0.3% rebate on all your other credit card spends.
    • The minimum amount you need to spend to enjoy higher rebates is S$600, and you will get a maximum cash rebate of S$60 per month.

    Insurance Benefits

    If you use this UOB Credit Card to book your travel tickets, you will receive complimentary insurance coverage of up to S$500,000. This insurance is issued and underwritten by United Overseas Insurance Limited. Insurance coverage is provided in cases including the following:

    • Death
    • Injury during scheduled public conveyance
    • Loss of one or both the limbs
    • Personal accident cover
    • Injury to eyes
    • Permanent disability
    • Emergency evacuation and medical assistance

    Instalment Payment Plans

    The UOB YOLO Credit Card offers two types of payment methods:

    • 0% Instalment payment plan
    • SmartPay

    You will be able to make zero-interest repayments using the instalment payment plan (IPP) for up to 3 years. IPP can be used to make payments at about 4000 outlets on the island. IPP can also be used to buy gold bars with a low-handling fee of 1% for a period of 1 year.

    UOB SmartPay allows you to convert your credits greater than S$500 into low-interest monthly instalment plans. You can repay the credit within 3, 6 or 12 months. You will need to pay fixed monthly instalments for each SmartPay transaction. Also, you can pay up to a maximum of 5 bills using UOB SmartPay. Please note that cash rebates are not eligible when you convert your payments to SmartPay or IPP.

    Fee and charges

    Type of fee Amount payable
    Annual fee S$192.60 (First-year fee is fully waived)
    Supplementary card fee First supplementary card fee is waived. The second supplementary card is charged at S$96.30
    Interest rate on purchases 25.9% p.a. subject to a minimum charge of S$3
    Late payment charges S$90
    Cash advance fee 6% of the cash advance amount (subject to a minimum fee of S$15)
    Interest on cash advance 28% p.a.
    Administrative fee 2.8%

    How to activate/use UOB YOLO Credit Card overseas

    UOB credit cards can be activated using the following methods:

    How to activate UOB YOLO Credit Card for local use?

    You can activate the card by using any of the steps below:

    • You can contact the UOB helpline or visit the UOB website.
    • Activation can be done through the ATM.
    • Download UOB Mighty app on your smartphone to activate the card.

    How to Activate UOB YOLO Credit Card for overseas use?

    The credit card will be inactive (for security purposes) and needs to be activated for overseas use. The magnetic strip on your card needs to be enabled in order to use it for point of sale transactions or to get ATM access. Activation steps are given below:

    • Visit the UOB website.
    • Click on the tab that says ‘Overseas card use’. Upon doing so, you will be required to enter the credit card number and input the verification code and click continue to finish the activation process.

    Other methods to activate the magnetic strip includes the following:

    • Visiting the nearest UOB branch.
    • Download and mail the overseas activation form to UOB. The form can be downloaded from the UOB website.
    • Call the hotline number.
    • Visit the nearest UOB ATM.

    Foreign Currency Transactions

    If you buy anything outside Singapore, the amount is first converted into US dollar and then into Singapore dollars. Banks and card associations will charge a conversion/admin fee on this converted amount.

    An administrative fee of up to 2.8% is applicable for transactions on foreign currencies made on the YOLO Card. This includes Visa, MasterCard, JCB International, Union Pay International credit cards. Transactions that are made in Singapore dollar (SGD), but processed outside using Visa or MasterCard, will attract an international processing fee of 1%.

    Cash Advance/Cash Withdrawals

    You can withdraw cash from your credit card, but you’ll have to pay 28% interest per year on it. The withdrawal can be done from ATMs, through internet banking, or at any UOB branch. You also have to pay a cash advance fee of 6% (or S$15, whichever is more) for each withdrawal. The interest is calculated on a daily basis, from the day you make the withdrawal, until the balance is paid in full. There is no grace period for cash advance repayments.

    How to Apply for UOB YOLO Credit Card

    You can visit the UOB Singapore website and apply for the credit card online. Upon visiting the website, you will be prompted to enter your personal details such as gender, marital status, nationality, etc. You will also be required to upload the supporting documents. You can also visit the nearest UOB branch to apply for the card.

    Eligibility Criteria

    You will need to meet the criteria discussed below to qualify for the UOB YOLO Credit Card:

    • At the time of applying for the credit card, you should not be less than 21 years old.
    • You should be a Singapore citizen or should be a permanent resident (PR).
    • You will need an annual income of S$30,000 or a fixed deposit collateral of S$10,000.
    • If you are a foreign national, you should have a minimum annual income of S$40,000 or fixed deposit collateral of S$10,000.

    Documents required

    If you are salaried, you will need to furnish the following documents:

    • A photocopy of your NRIC (both the sides).
    • 3 months’ latest computerised salary slips.
    • Most recent 12 months’ CPF contribution history statement AND latest computerised salary slips OR
    • Most recent IRAS Tax Bill with computerised salary slips or 12 months’ CPF contribution history statement.

    If you are self-employed or have a variable monthly income, you will need to submit the following documents:

    • A photocopy of your NRIC (both the sides).
    • The latest copy of your IRAS Tax Bill.

    If you are a foreign national, you will need to submit the following details:

    • Passport with at least 6 months’ validity.
    • Employment pass (Q pass or EP with at least 6 months’ validity).
    • Latest telephone or utility bills that have proof of your residential address.
    • Latest computerised salary slips OR
    • Your latest IRAS Tax Bill with latest computerised salary slips OR
    • Letter from your company or employer certifying your employment and your 3 months’ salary details.

    Interest Rates

    Interest rates on purchases are calculated at 25.9% p.a., and this is subjected to a minimum fee of S$3 (calculated on a daily basis). UOB YOLO Credit Card members will get 21-days interest-free period provided the outstanding dues are paid in full. If you fail to make full payments every month, then the interest will be levied on the balance amount until the dues are paid in full.

    An additional interest of 3% is applicable in case if the minimum payment is not paid within the due date. This extra interest is calculated on a daily basis and will continue to remain until the dues are cleared. Interest rates on cash advances are calculated at 28% p.a., and the principle of penal interest rate applies to them as well.

    Reference: Steps to calculate your Credit Card Interest rate,

    Bill payments

    You will be required to pay 3% of the current balance or S$50 (whichever is higher) every month. This is also applicable to the overdue amount. If the payments are not paid on time, you are liable to pay S$90 as late payment charges.

    Payments can be made using your UOB current account or savings account. You can make payments to your UOB credit card using other banks such as DBS, POSB, and OCBC at any UOB ATM. The credit card bills can also be paid using the following methods:

    • ATM
    • InterBank GIRO
    • Phone banking
    • Internet banking
    • S.A.M Machines/iNETS Kiosk/AXS stations
    • Cash
    • Cheque

    What Should You Do If Your Card is Lost/Stolen?

    If the credit card is stolen or the PIN is compromised, you are not liable for the purchases made, but only under the following conditions:

    • Intimating the bank of the loss of your card using the UOB hotline number.
    • Following all the necessary steps to recover your card or stop its misuse.
    • You have not acted fraudulently.
    • You have not been negligent in the use of the card.

    If you’ve followed all due procedures, your liability cannot exceed S$100.

    Card Purchase Protection Schemes

    If you would like to protect your family from any balances you may have on your credit card or UOB CashPlus account, you can opt for CreditSure Plus. This card protection scheme provides comprehensive coverage and affordable premiums.

    You will get up to S$200,000 or 2.4 times your credit limit (whichever is less) in case of accidental death. You will receive up to S$100,000 or 1.2 times of your credit limit (whichever is lesser) in case of terminal illness, death or permanent disability. You are eligible to get up to 6 months of CreditSure Plus premium waiver and monthly loan instalments in case of temporary or complete disability.

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