| Credit Card | Local | Online | Cycle | Min | Cap | Tips |
|---|---|---|---|---|---|---|
| UOB ONE | 3.3% rebate | 5.33% | Quarterly | $300, $800, $1500 for 3 months | $30, $80, $150 | none |
| Maybank Family and Friends | 5% off Toys R Us, NTUC | none | Monthly | None | none | None |
| POSB Everyday | 2% off ezlink topup | none | Monthly | None | none | well, i got it for 5% rebate at Carrefour which closed down. think its time to cancel the card. |
| Standard Chartered Manhattan | 0.5%, 1%, 5% rebate | Quarterly | $0, $1000, $3000 | $200 | Spend only in 1 month, reaching 3k Tier | |
| Metro UOB | 5% rebate at Metro | none | Monthly | None | none | None |
| Taka DBS | 3% rebate at Takashimaya | none | Monthly | None | none | None |
| Citibank Clear 500 | none | none | Monthly | None | none | just for discount as and when a citibank card is needed |
| CIMB | 0.5% | 1% | Monthly | None | none | None |
| OCBC Frank | 0.5% | 6% | Monthly | $500 | $60 | None |
| Robinson OCBC | 5% rebate off robinson | none | Monthly | None | None | None |
Monday, April 15, 2013
Credit Breakdown 20130416
Manhattan Credit Card tips 20130416
Met up with Slash last night and was sharing some tips with him on using credit cards.
Slash has been using Standard Chartered Manhattan Card, but not in a very effective way.
Manhattan card is a very powerful card. but it has to be used in the correct way.
http://www.wowmanhattan.com.sg/benefits.html
Cash back for Manhattan is calculated quarterly. you have to find out when does your quarter starts and ends. i told slash, that with Manhattan Card, you will need to pick a month in that quarter to whack.
If you attack with Manhattan card monthly and below $1000 ($999), here is the total rebate in 3 months.
$999*0.005*3=$14.985
Not saying this is bad, but this is offered by ANY credit card by default. do note that some citi cards offer only 0.25% rebate.
If you attack with Manhattan card monthly and go above $1000 but below $3000 ($2999), here is the total rebate in 3 months.
$2999*0.01*3=$89.97
this is better than most credit cards already.
Why do you attack only 1 month with the Manhattan card? cos when it goes above $3000, the minimum rebate you will get is $150. as there is a cap of $200, try to spend above 3k but below 4k for maximum rebates.
in my case, which month to whack is decided by the sales going on. but if you do have a choice, try to do it on the last month. why?
here is a slight explaination on the difference between discount and rebates.
5% discount on $100 = $5
Hence actual cash you pay is ($100-5) = $95.
Effective discount = 1-(Payment/item value) = 1-(95/100) = 5%
rebates is slightly more complicated.
5% rebate on $100 = $100 + 5
Hence actual cash you pay is $100.
Effective discount = 1-(Payment/item value) = 1-(100/105)=4.76%
One good point about Manhattan card is that, they will give you the cash rebate on the last month of that quarter. in that quarter itself.
so if you do it on the first or second month, it will look like this.
Actual cash you pay = $4k
Rebate = $200
Effective Discount = 1- (Payment/item value) = 1-(4000/4200) = 4.76%
But if you do it on the last month, it will look like this
Actual cash you pay = $3800 after rebate deduction.
Effective discount = 1-(Payment/item value) = 1-(3800/4000) = 5%
The next question will arise, how do i clock 3k in a month? i dont spend that much. :) you can always look for me to help clock that amount. if you not comfortable with that (boooo~), you can always pay your telco and ezlink cards in advance. personally i have 3 ezlink cards which are linked to my UOB ONE card and i rotate them when i have already hit my requirement for that month.
Slash has been using Standard Chartered Manhattan Card, but not in a very effective way.
Manhattan card is a very powerful card. but it has to be used in the correct way.
http://www.wowmanhattan.com.sg/benefits.html
Cash back for Manhattan is calculated quarterly. you have to find out when does your quarter starts and ends. i told slash, that with Manhattan Card, you will need to pick a month in that quarter to whack.
If you attack with Manhattan card monthly and below $1000 ($999), here is the total rebate in 3 months.
$999*0.005*3=$14.985
Not saying this is bad, but this is offered by ANY credit card by default. do note that some citi cards offer only 0.25% rebate.
If you attack with Manhattan card monthly and go above $1000 but below $3000 ($2999), here is the total rebate in 3 months.
$2999*0.01*3=$89.97
this is better than most credit cards already.
Why do you attack only 1 month with the Manhattan card? cos when it goes above $3000, the minimum rebate you will get is $150. as there is a cap of $200, try to spend above 3k but below 4k for maximum rebates.
in my case, which month to whack is decided by the sales going on. but if you do have a choice, try to do it on the last month. why?
here is a slight explaination on the difference between discount and rebates.
5% discount on $100 = $5
Hence actual cash you pay is ($100-5) = $95.
Effective discount = 1-(Payment/item value) = 1-(95/100) = 5%
rebates is slightly more complicated.
5% rebate on $100 = $100 + 5
Hence actual cash you pay is $100.
Effective discount = 1-(Payment/item value) = 1-(100/105)=4.76%
One good point about Manhattan card is that, they will give you the cash rebate on the last month of that quarter. in that quarter itself.
so if you do it on the first or second month, it will look like this.
Actual cash you pay = $4k
Rebate = $200
Effective Discount = 1- (Payment/item value) = 1-(4000/4200) = 4.76%
But if you do it on the last month, it will look like this
Actual cash you pay = $3800 after rebate deduction.
Effective discount = 1-(Payment/item value) = 1-(3800/4000) = 5%
The next question will arise, how do i clock 3k in a month? i dont spend that much. :) you can always look for me to help clock that amount. if you not comfortable with that (boooo~), you can always pay your telco and ezlink cards in advance. personally i have 3 ezlink cards which are linked to my UOB ONE card and i rotate them when i have already hit my requirement for that month.
Wednesday, March 20, 2013
21th March 2013
Coming close to a year since i last blogged.
Nothing much really changed. I should be doing up my website and selling stuff but that is still in progress. actually selling on another site will be a better option. but will still do the website as i need something to interest me and keep me motivated. why is selling on another site a better option? traffic. the amount of human traffic that can go through the site is alot higher than just a website or blogshop can generate. also, ppl who will target your website or blogshop are likely to be collectors who are very much informed on the pricing, hence, harder to make a sale. Still in debt to my good friend. sort of cleared half, then it rebounded.
Got alot more lego since i last posted. i think that is where went wrong. I'm too focused on getting rebates that i end up spending more than i save/clear debts. and everything is done in the name of stocking up. sales wise is ok. more or less a consistent $300 a month can be generated. so what actually went wrong? the bulk of it i think will be credited to my UOB one card which had me spending a constant $1500 a month. Even though this card has the highest amount rebate in terms of general local spending. keeping up with quarterly rebates is very nasty, especially when they claim that you spend short of 3 bucks and drop your rebate by 1 tier, which is half the rebate. (-_-)
Lets do a break down of my monthly then followed by the cards that i have and how to reallocate expenditure.
Mobile/Home line - $100 (online)
Home Broadband - $100 (online)
Transport - $100 - 150 (local)
Looking at this, something must be awfully wrong. Bills and transport comes up to $300 max. so what happpened to the other $1200?
My UOB ONE - feb statement
15 Feb 2013 TOY OUTPOST PTE LTD SINGAPORE SG SGD 17.90 (local)
15 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 61.74 (local)
15 Feb 2013 PAYPAL *CHROMEBRICK 35314369001 DE EUR 92.93 SGD 158.72 (online)
15 Feb 2013 SINGTEL-MYBILL SINGAPORE SG SGD 125.59 (online)
15 Feb 2013 STARHUB LTD EPAYMENT SINGAPORE SG SGD 34.20 (online)
16 Feb 2013 TOY STATION SINGAPORE SG SGD 37.90 (local) 18 Feb 2013 ITACHO @ PS SINGAPORE SG SGD 46.70 (local)
18 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 39.69 (local)
19 Feb 2013 Amazon EU AMAZON.CO.UK LU GBP 192.33 SGD 379.96 (online)
19 Feb 2013 PAYPAL *GMARKETINCS 4029357733 SG SGD 159.00 (online)
22 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 59.90 (local)
25 Feb 2013 EBAY.COM.SG SGD 5.04 (online)
25 Feb 2013 PAYMENT AT AXS (57060006) SGD 1,509.35 CR -payment for bill, never pay earlier
27 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 223.80 (local)
27 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 35.28 (local)
27 Feb 2013 EZ-LINK PTE LTD SINGAPORE SG SGD 50.25 (local)
11 Mar 2013 SINGTEL-MYBILL SINGAPORE SG SGD 65.00 (online)
13 Mar 2013 UOB ONE CASH REBATE BILL REDEMPTION SGD 80.00 CR
They claim that i didnt hit the 1500 in the dec bill, i asked them to make an exception even though i know that i have clocked enough amount. (after this month, i'll be dropping my rebate tiers)
local 533.47 online 927.51 2/3 of my spendature is online. its likely that i'll drop my local spending on my UOB one card down to 300 so that it pays for my transport and part of my local spending if any. I'll be switching over to OCBC frank card. which will allow me to get more rebates but spend less. So now i have been using credit cards for close to 2 years now, and its time to start looking at individual card's performance and terminate those that are not really needed.
UOB ONE - 3.3% rebate off all spending, but calculated quarterly. capped at $30, $80, $150.
Maybank Family and Friends - 5% off Toys R Us, NTUC
POSB Everyday - well, i got it for 5% rebate at Carrefour which closed down. think its time to cancel the card.
Standard Chartered Manhattan - 5% rebate when you spend above $3000, cap at $200
Metro UOB - 5% rebate at Metro
Taka DBS - 3% rebate at Takashimaya
Citibank Clear 500 - just for discount as and when a citibank card is needed
CIMB (killed) - 1% off online spending, 0.5% off local spending
OCBC Frank (applying) - 6% rebate off online spending. cap at $60 per month.
Robinson OCBC (applying) - 5% rebate off robinson.
Well, have to use the new card first and see how everthing works out. meanwhile have to be going more packing, sorting, listing.
Nothing much really changed. I should be doing up my website and selling stuff but that is still in progress. actually selling on another site will be a better option. but will still do the website as i need something to interest me and keep me motivated. why is selling on another site a better option? traffic. the amount of human traffic that can go through the site is alot higher than just a website or blogshop can generate. also, ppl who will target your website or blogshop are likely to be collectors who are very much informed on the pricing, hence, harder to make a sale. Still in debt to my good friend. sort of cleared half, then it rebounded.
Got alot more lego since i last posted. i think that is where went wrong. I'm too focused on getting rebates that i end up spending more than i save/clear debts. and everything is done in the name of stocking up. sales wise is ok. more or less a consistent $300 a month can be generated. so what actually went wrong? the bulk of it i think will be credited to my UOB one card which had me spending a constant $1500 a month. Even though this card has the highest amount rebate in terms of general local spending. keeping up with quarterly rebates is very nasty, especially when they claim that you spend short of 3 bucks and drop your rebate by 1 tier, which is half the rebate. (-_-)
Lets do a break down of my monthly then followed by the cards that i have and how to reallocate expenditure.
Mobile/Home line - $100 (online)
Home Broadband - $100 (online)
Transport - $100 - 150 (local)
Looking at this, something must be awfully wrong. Bills and transport comes up to $300 max. so what happpened to the other $1200?
My UOB ONE - feb statement
15 Feb 2013 TOY OUTPOST PTE LTD SINGAPORE SG SGD 17.90 (local)
15 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 61.74 (local)
15 Feb 2013 PAYPAL *CHROMEBRICK 35314369001 DE EUR 92.93 SGD 158.72 (online)
15 Feb 2013 SINGTEL-MYBILL SINGAPORE SG SGD 125.59 (online)
15 Feb 2013 STARHUB LTD EPAYMENT SINGAPORE SG SGD 34.20 (online)
16 Feb 2013 TOY STATION SINGAPORE SG SGD 37.90 (local) 18 Feb 2013 ITACHO @ PS SINGAPORE SG SGD 46.70 (local)
18 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 39.69 (local)
19 Feb 2013 Amazon EU AMAZON.CO.UK LU GBP 192.33 SGD 379.96 (online)
19 Feb 2013 PAYPAL *GMARKETINCS 4029357733 SG SGD 159.00 (online)
22 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 59.90 (local)
25 Feb 2013 EBAY.COM.SG SGD 5.04 (online)
25 Feb 2013 PAYMENT AT AXS (57060006) SGD 1,509.35 CR -payment for bill, never pay earlier
27 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 223.80 (local)
27 Feb 2013 BRICKS WORLD SINGAPORE SG SGD 35.28 (local)
27 Feb 2013 EZ-LINK PTE LTD SINGAPORE SG SGD 50.25 (local)
11 Mar 2013 SINGTEL-MYBILL SINGAPORE SG SGD 65.00 (online)
13 Mar 2013 UOB ONE CASH REBATE BILL REDEMPTION SGD 80.00 CR
They claim that i didnt hit the 1500 in the dec bill, i asked them to make an exception even though i know that i have clocked enough amount. (after this month, i'll be dropping my rebate tiers)
local 533.47 online 927.51 2/3 of my spendature is online. its likely that i'll drop my local spending on my UOB one card down to 300 so that it pays for my transport and part of my local spending if any. I'll be switching over to OCBC frank card. which will allow me to get more rebates but spend less. So now i have been using credit cards for close to 2 years now, and its time to start looking at individual card's performance and terminate those that are not really needed.
UOB ONE - 3.3% rebate off all spending, but calculated quarterly. capped at $30, $80, $150.
Maybank Family and Friends - 5% off Toys R Us, NTUC
POSB Everyday - well, i got it for 5% rebate at Carrefour which closed down. think its time to cancel the card.
Standard Chartered Manhattan - 5% rebate when you spend above $3000, cap at $200
Metro UOB - 5% rebate at Metro
Taka DBS - 3% rebate at Takashimaya
Citibank Clear 500 - just for discount as and when a citibank card is needed
CIMB (killed) - 1% off online spending, 0.5% off local spending
OCBC Frank (applying) - 6% rebate off online spending. cap at $60 per month.
Robinson OCBC (applying) - 5% rebate off robinson.
Well, have to use the new card first and see how everthing works out. meanwhile have to be going more packing, sorting, listing.
Subscribe to:
Posts (Atom)