Review of my Credit Card Savings

Hi everyone, here is an update on how I use my credit cards to save money. Here it is.

From Citibank CashBack Card (Dividend Card)

Groceries - $6000 yearly purchase => $300 rebate ($25 x 12 months)
Esso Petrol - $2400 purchase => $192 rebate (8% Cash rebate)
Singtel - $2400 purchase => $6 rebate (0.25% Cash rebate, more to topup the $888 minimum)
Weekend Dining - $1200 purchase => $96 rebate (8% Cash rebate)

From Singpost Standard Chartered Card 

Insurances - $1400 yearly purchase => $88 rebate (7% Cash rebate)
Online Purchase - $2000 purchase => $140 rebate (7% Cash rebate)
Travel (Online) Purchase - $3000 purchase => $210 rebate (7% Cash rebate)

From DBS Visa Debit Card (Paywave or Samsung Pay)
Provided that you don't make 3 withdrawal from ATM every month

Department Store - $1200 yearly purchase => $60 rebate (5% Cash rebate)
Other Purchase - $2400 purchase => $120 rebate (5% Cash rebate)


From POSB Everyday Card 

SP Services - $1400 yearly purchase => $14 rebate (1% Cash rebate)

Total Savings = $1646 per year

Reviewing my Credit Card Savings - Part One (Citibank Dividend Card)

Hi everyone,

It has been a while since I made my last post on Citibank Dividend Card which is now my main card, taking most of my purchases to chalk up the $888 minimum every month. I am glad that I am able to do it at this point.

How do I do it? Well, here is my expenses and savings.

Supermarket Groceries
=> $250 per month in NTUC, $250 per month in Giant
=> $40 cash rebates

Petrol
=> $150 per month
=> $12 cash rebates

Dining
=> $200 per month
=> $16 cash rebates

Others (Singtel & S&CC)
=> About $220 per month
=> $0.55 cash rebate (miserly)

Total
=> $1,070 per month
=> $68 cash rebate

What do you think? :-)

Consolidating all purchases to Citibank Dividend Card

Since they re-launch the Citibank Dividend Card with 8% cashback on groceries, dining, petrol with a minimum spend, I have been consolidating my spending on this card. And I believe that they have made the right note this time to give a game-changing cashback on three of the most common purchases, with a forced minimum of $888 which forces us to transfer some of the purchases from other cards to this.

I believe every bank wants their customers to just use their cards as a primary card and they would have to up the game to at least match Citibank's offer.

I am consolidating mine, transferring S&CC charges and Singtel bills over. Next will be Singapore Power Bill.

Current Credit Card Usage Situation for me (A Family of Four)

Hi everyone,

Looks like I need to update the credit card uasge and the amount of cashback that I am earning (or going to earn). Here is the profile which I have given earlier.

I am a working adult with a normal job, married with two kids, age 4 and 2 with help from my parents-in-law to take care of my kids. Thus, my groceries budget is catered to six people (sometimes eight). Because of this, dining during weekdays are rare as my mother-in-law cooks for us.

I live in a 4-room HDB flat. Thus, I have Singapore Power bills and S&CC charges.

I bought a car two years ago because of my second kid so I have car related budget.

I send one of my kids for Shichida course in Toa Payoh which explains why I needed education budget.

I subscribe to Mio Home plan with 3 handphone lines linked to it. Thus, I have a Singtel budget.

With this profile, here are the savings I have from most of the expenses I incur. I will update it as time goes by. (It is based on yearly expenses and cashback)

Using Citibank Dividend Card

• For Groceries (Alternating with NTUC Fairprice and Giant) = $6,000 per year => $480
• From NTUC U Member (Groceries) = $240 - 117 = $132
• For Petrol = $1,800 per year => $144 
• For Dining = $2,400 per year => $192

Using Standard Chartered Singpost Card

• For HDB Carpark (Online purchase) = $1,140 per year => $79.80
• For Car, Home and Travel Insurance (Online purchase) = $1,250 per year => $75

Using Citibank Rewards Card

• For Departmental Store = $1,200 per year => $39.60

Using Citibank SMRT Card

• For S&CC = $684 per year => $34.20

Using POSB Everyday Card

• For SP Services = $1,920 per year => $19.20

Using OCBC 365 Card (Under Review)

• For Singtel = $1,800 per year => $54

Total = $1247 (About $100 per month)

I am still looking for Credit Card which give rebates for Education as it is one of the major expenses, and for Singtel bills because I am reducing my usage on OCBC 365 card. Likely to consolidate other the last four credit cards to the first three since they are willing to give more rebates if we hit the minimum amount.

Game Changing Credit Card - Citibank Dividend Card

Citibank just SMS me a notice on the changes to the rebates that they are giving. Wow! It is amazing. Here are the details. (http://www.citibank.com.sg/global_docs/pdf/Citi_DIVIDEND_Card_Notification_Letter_Non-Perso.pdf)

Grocery purchases - 8% Rebate
Dining - 8% Rebate
Petrol - 8% Rebate

Clause - Minimum $888 in that month.

It gives me a big reason to consolidate my purchases into Citibank Dividend Card from October 2015 onwards since these are the three purchases which I uses most. Better than OCBC 365 card and Maybank Family and Friends Card which has been doing so well and getting all my usages up till now.

I am applying supplementary card for my wife and mother-in-law so that all the purchases are consolidated. Here are the consolidation

Grocery Purchases - $500 per month => $40 per month or more (Currently, we rotate between Giant and NTUC)

Petrol - $150 per month => $12 per month

Dining - $200 per month => $16 per month

Total Rebates = $68 per month (More than $800 per year)

What are you waiting for? (By the way, I get no commission for promoting their card. :-)

Shell with Citibank Dividend Card - 18.1% Discount

http://www.citibank.com.sg/gcb/credit_cards/citi_dividend.htm?icid=SGCCADCENCCHOCB05

Another Petrol Kiosk which is near my house is Shell. With a total of 18.1% Rebate (5% Site discount, 5% Smiles Card Discount, 4% CitiRebate on nett purchase, 5% Cash Rebate on nett purchase), I think this is very good already. However, I have to confess that I have not pump petrol at Shell yet. Esso is too convenient for me. Maybe after I shift house, I will consider.

Drawbacks include
1) A Minimum spend of $50 per transaction (Usually will hit)
2) A Maximum Cash rebate of $800

Here are my calculations on an annual basis
Petrol purchase = $1680 ($140 per month)

Discount = $168
Cash Rebate = $75.60
CitiRebate = $60.08
Total = $304 (About $25 per month)

What do you think?

Esso with Citibank Dividend Card - 18.3% Total Discount

http://www.citibank.com.sg/gcb/credit_cards/citi_dividend.htm?icid=SGCCADCENCCHOCB05

This is my main petrol card since I live just beside an Esso Petrol Kiosk. With a total of 18.3% Rebate (5% Site discount, 5% Smiles Card Discount, 4% Citibank Discount, 5% Cash Rebate on nett purchase), I think this is very good.

Drawbacks include
1) A Minimum spend of $50 per transaction (Usually will hit)
2) A Maximum Cash rebate of $800

Here are my calculations on an annual basis
Petrol purchase = $1680 ($140 per month)

Discount = $235.20
Cash Rebate = $60
Total = $295 (About $25 per month)

What do you think?

NTUC Fairprice with Citibank Dividend Card - 9% Rebate

http://www.citibank.com.sg/gcb/credit_cards/citi_dividend.htm?icid=SGCCADCENCCHOCB05

This is another card which has rivalled Maybank Family and Friends Card with 5% Rebate. With NTUC Member of 4% Cash rebate (up to a maximum of $240). I also get a total of 9% which is a lot.

Drawbacks include 

1) a Minimum spend of $50 per transaction (This is tricky because you don't buy so much every single time) 

2) A Maximum of $800 Cashback (Better than Maybank)

Here is the calculations on an annual basis

NTUC Fairprice Purchases - $9600 ($800 a month)

Rebates through NTUC Member - $240

Rebates through Citibank Dividend Card - $480

Minus off NTUC Member Fee - ($117)

Total Rebates = $603 (About $50 per month)