POSB Everyday Credit Card Review

posb-everyday-card

posb-everyday-card

Did you sign up for the POSB Everyday credit card after reading our credit card article?

Well, the benefits just got BETTER!  Let me explain it to you in this POSB Everyday credit card review.

 

  1. Fare Free Friday

Yes! Free public transport on Friday!

Usually I will head back home on Friday after work, because it is just too tiring to go out after 5 brain-draining working days. After POSB came out with this promotion, I changed my workout days from Saturday to Friday, and decided to run errands on Friday instead. However, this post comes a little too late as the application period for new POSB card holders ends on 31 July 2015. Not to worry for existing card holders, you will be automatically enrolled into this promotion and POSB will send you an SMS notification. (Promotion period: 31 July to 25 Dec 2015)

So, this is how much I have saved per month:

Two way ride: $3.00

Per month (assuming 4 Fridays a month): $12

A year: $144

I know this amount does not look much, however, a little goes a long way………

 

2. 5% rebate on dining and grocery spending

Here’s the catch: you must spend a minimum of $500 per calendar month to qualify for this new benefit. 5% is for dining, 3% is for all supermarkets island wide. Only spending at Sheng Siong gives you 5% cash rebate.

If you compare this new benefit with the SMRT Citibank card, the latter is a better option if you are a frequent shopper at supermarket. Up to 7% to 12% SMRT$ (table below- extracted from Citibank SMRT Platinum Visa Card website). You can use SMRT$ to exchange for vouchers when you login to Citibank Online. Do take note that SMRT$1 = $1, they are not for cashback.

citibank chart

 

Do sign up now if you haven’t, the Bf and I still think that the POSB credit card rocks! Signing up online now gives you $80/$160 cash rebate when you charge a minimum of $500/$1000 respectively to the POSB Everyday Card. Usually POSB/DBS does not offer any cashback when you signup for a new card.

 

 

Which is your favourite credit card?  Share it in the comments below!

 

5 Comments

  1. Kelvin

    ““Dining Spend” includes spend made at restaurants, cafes, fast food outlets and caterers but excludes food and beverage spend made at hotels, bars, entertainment establishments and wedding banquets. ”

    5% rebates would be amazing if you spend more than $125/week eating out with friends and family, that is if you hit minimum spending and all on food. Else anything less would dampen the rebate value that could have been rolled into points or flat rate cash back from AMEX or OCBC 365.

    For me, I have a minimal wallet and I find the best value/s out of as little cards as possible. I carry 3 cards and an ATM card, all from different banks. 1) OCBC card for that OCBC 360 spending interest, 2) Citibank Rewards for the 10x rewards points for participating outlets, 3) AMEX Cashback for all other spendings, 4) UOB Debit card as my ATM card.

    And that’s how I rank my cards to determine the best returns from any spending as well. Also, to reduce the monthly spending requirements, I’ve enrolled instalment plans for big ticket items into my OCBC card when possible. The last IT Exhibition sale, I bought a new tablet which I charged the full amount to my OCBC card at 6 months 0% instalment. I could pay it back in the following month in full but diversify it into 6 months and I could charge less to the OCBC card as it provides no additional value other than the interest in the 360 account. So the other spendings could go into AMEX or Citibank.

    Reply
    1. The Gf (Post author)

      Hi Kelvin!

      Thanks for the comment! That’s a great idea! I have almost the same card ‘portfolio’as you, in the midst of reshuffling due to my reduced spending. I should say POSB is still a great card for me due to more suitable participating outlets they have.

      BTW, for your AMEX card, are you using 5% cashback card?

      Reply
      1. Kelvin

        Hey!

        Liked how you coin it as a card ‘portfolio’. Haha…

        Yup, it’s the AMEX Cashback card. It’s flat rate 1.5% throughout but the 1st $5000 charged or first 3 months is 5%. My fiancee and I applied and we charged our wedding banquet payments max $5k each to get that cashback and used the savings to pay for other wedding matters. I got a 8% cashback when I booked my flight through Zuji and paid my tickets via AMEX. 3 months into my relationship with AMEX, I’m beginning to enjoy the card more and more!

        Reply
        1. The Bf

          My mind is boggling from this conversation… All credit card management I outsource to the GF…

          Reply
        2. The Gf (Post author)

          LOL. The BF only know how to invest, don’t know how to use credit card. -_-

          Using this card for wedding is a great idea, I have thought of that too. Very lucky of you to get married after AMEX come out with this card, get to maximize the cashback for all 3 months!

          I am waiting for the right chance to sign this credit card to maximize use the 5% for first 3 month… still waiting….

          Reply

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