I was chatting with a friend and ASSI guest blogger this evening about credit cards. He told me he had to spend $1,000 each month on a credit card recently in order to get a $100 rebate at the end of the quarter.
OK, I think most of you would have guessed which credit card this is. Yes, it is the UOB ONE card.
Anyway, I have the same card but I make sure I spend only a bit more than $500 a month (together with 3 monthly GIRO payments) to get higher monthly interest income of about $100 on $50,000 deposited in my UOB ONE account.
$1,200 a year and better than any fixed deposit can offer!
Of course, I also get a $50 rebate for card spending at the end of each quarter.
Back to the story.