The Yolo credit card by UOB is curated for the younger generation, with the motto of You Only Live Once. It has a unique card face, which displays the card number vertically rather than horizontally. This makes reading the card number easy for you and merchants.
The cashback credit card gives cash rebates on transactions most likely to be made by youngsters in Singapore. You get 8% cash rebate on weekend dining and entertainment both inside and outside Singapore, 3% cash rebate on online travel payments, online shopping for clothes, bags and shoes, and weekday dining and entertainment. All other spends are eligible for a 0.3% rebate.
You also get free rides with Grab taxi on all weekends until 31st December, 2017, if you use the promocode UOBYOLO while paying for your rides using the Yolo credit card. The websites that qualify for 3% online travel rebates are: Agoda.com, AirAsia.com, Airbnb.com, Cathaypacific.com, Expedia.com, Hotels.com, Jetstar.com, Flyscoot.com, Singaporeair.com, Tigerair.com, and UOBtravel.com. The card also has awesome dining discounts and deals under the YOLO EAT! programme.
You can also make payments using contactless methods such as Samsung Pay, Android Pay and Apple Pay. The catch is that you need to spend at least S$600 per month to get the 8% and 3% cash rebate. You cannot earn more than S$60 per month as cash rebate.
UOB YOLO Credit Card:
You only live once – this is the motto of UOB’s YOLO Credit Card. The card is ideal for today’s generation, with attractive shopping, dining and travel benefits and great cash rebates and discounts for comfortable living.
Features Of UOB YOLO Credit Card:
A minimum spend of S$600 per statement cycle is required to be eligible for these 3% or 8% cash rebates. The maximum cashback you can get in a month is S$60.If the minimum qualifying spend of S$600 is not met, Card members will earn 0.3% rebate on all spend..
Benefits Of UOB YOLO Credit Card:
Insurance Provided By The Card:
On paying your travel expenses with YOLO credit card, you receive a complimentary Travel Insurance coverage of up to S$500,000. This includes the following, for the primary cardholder:
|Accidental death, loss of one or more limbs, blindness in both eyes, and Permanent Total Disablement from gainful employment of all kinds while using a public transport during your travel||S$500,000|
|Emergency medical assistance, evacuation and repatriation Connecting flight delay||Up to S$25,000 per insured person|
Instalment Payment Plans:
There are 2 instalment payment plans available on UOB YOLO Credit Card: 0% Instalment Payment Plan (IPP) and SmartPay. The IPP allows you to make zero-interest repayments for up to 3 years. It can be used at around 4,000 outlets on the island. You can also use this to invest in gold by purchasing gold bars using IPP with just 1% handling fee for a 1-year period.
With UOB SmartPay, you can convert your credit card transactions higher than S$500 to low-interest monthly instalments for 3, 6 or 12 months. Fixed instalments have to be paid for each SmartPay transaction every month. An interest-free grace period of over 30 days prior to making the first paymentof the instalments is applicable. You can make a maximum of 5 bills a month with SmartPay. Converting payments to IPP or SmartPay will not give you any cash rebates.
|SmartPay duration||Processing fee||Effective interest rate|
Fees And Charges:
|Second Supplementary Card Fee (1st Supplementary card is free)||S$96.30|
|Interest rate (annual)||25.9%|
|Late payment charges||S$60|
|Cash advance fee||6% or minimum S$15, whichever is higher|
|Interest on cash advance (annual)||28%|
|Fee for crossing credit card limit||S$40|
An extra penal interest of 3% will be charged applicable on both credit card bills and cash advances if you are unable to pay the amount due on time.
Foreign Currency Transactions And Overseas Use:
Transactions made in foreign currency will be subject to a 2.5% conversion fee, and in case of Singapore dollar transaction abroad, a 1% International Processing Fee will be charged.
You can withdraw cash from your credit card at a 28% interest in case of emergency. This withdrawal can be done from ATMs, transfer money to your or others’ accounts through UOB internet banking, or at one of the bank’s branches. The minimum amount you can withdraw is S$200 or more than 75% of your credit limit or the available credit limit, whichever is lower.
How To Apply For UOB YOLO Credit Card:
You can apply for the UOB YOLO Credit Card online, by going to the official UOB Singapore website. The application will prompt you to the page where you need to give you personal and contact details and upload the required documents. You can also go to your nearest UOB branch and put in your YOLO credit card application after consultation with the bank executives.
Eligibility Criteria For UOB YOLO Credit Card:
The minimum payment required is 3% of outstanding card account balance or S$50, whichever is higher, in addition to any overdue amounts. Failing this payment, a late payment fee of S$60 will be charged to your account. There are 9 ways to pay your credit card bills:
Reporting Lost/Stolen Credit Cards:
If your credit card is lost or stolen or the PIN has been compromised you are liable to pay the bank a maximum of S$100. This minimum liability is applicable only if you have undertaken the following steps:
If you are unable to report your loss of theft of card before any transaction is made on the card by another party, it is up to you to prove that the act is not because of your negligence, and that the expense is not done with your knowledge.