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.
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.
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:
The UOB YOLO Credit Card offers two types of payment methods:
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.
|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.|
UOB credit cards can be activated using the following methods:
You can activate the card by using any of the steps below:
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:
Other methods to activate the magnetic strip includes the following:
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%.
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.
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.
You will need to meet the criteria discussed below to qualify for the UOB YOLO Credit Card:
If you are salaried, you will need to furnish the following documents:
If you are self-employed or have a variable monthly income, you will need to submit the following documents:
If you are a foreign national, you will need to submit the following details:
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.
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:
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:
If you’ve followed all due procedures, your liability cannot exceed S$100.
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.