Card for HDB Carpark Purchase & Car Insurance - SCB Singpost Credit Card

After their revision of their terms and conditions, I found that SCB Singpost Credit Card still offers 7% rebate on online purchases. Thus, I use it to purchase my HDB carpark (annual) and got my 7% cash rebate. Here is the details at a glance. (Minimum $600 purchase)

HDB Carpark - $1,140 per year => $79.80 cash rebate (Pay 7 months everytime to hit minimum $600)

Car Insurance (purchased online) - $1,000 per year => $60 cash rebate (Maximum per month)

SCB Singpost Credit card will continue to be my online purchase card but HDB and Car Insurance purchase are the main reasons why I use it. With that, I drop OCBC Frank, and CIMB Platinum card

Looking for the Credit Card with highest % Cashback for Online Purchases

Hi everyone,

I am looking for a credit card with highest percentage cashback for online purchases. This is for my HDB Season Parking. A few things to note.

1) Singpost Standard Chartered Bank Visa is reducing their online purchase cashback from 7% to 2% as of next month so I am unable to enjoy it as I can only renew it next month.

2) OCBC specifically mention that online payments to Government organizations are excluded from their online purchase cashback. Thus, OCBC Frank Card and OCBC 365 Card are not able to be used.

Any others? Many Thanks!

HDB Parking with OCBC Frank Card - STOPPED

Haiz... OCBC has decided that they are not giving 6% rebates to HDB parking with effect of 1st Dec 2014. Looks like I need to find another card to use to pay for my HDB parking.

For HDB parking. The best now is use GIRO which is at 2% discount. Better than even POSB Everyday Card.

Savings for a Family of Four - Updates on 3rd Jan

Hi everyone,

As I was reading my own blog especially on this article, I realize how bad the post was which does not really provide enough info for all of you. Therefore, I am showing you an excel sheet which helps to consolidate all the expenses and savings that I got for the year. It is for your reference and I urge you to do the same. I will update this as time goes.

Happy saving (through credit cards) :-) and Happy New Year.

Money saved - For a Single (and available) person

I got a friend who gave me some of his expenses as a young single, available adult who has stepped into the working world for about 4 years with some savings. Here are his expenses and recommended cards.

Dining - $10 per day - $300 per month (Not very sure whether he uses cards so I am going to discount this)
Public Transport - $80
Telco - $34
Two Insurance Policies - $200
Unit Trust Investments - $600
Other expenses - $200

For him, the focus is "Be focused". His spending is not high so all those minimum spend cards are not useful. So my recommendation is to focus on OCBC 360 Account because he needs high savings returns to help him save as much as possible. Here is the savings

OCBC 360 Account
1) 1% Savings when he switches to bank in his salary into this account.

2) Another 1% for doing the following. Transfer his GIRO transactions to his OCBC 360 account i.e. Unit Trust Investments, and two Insurances policies. That will give him another 1%.

3) As for the third 1%, sign up for a OCBC 365 card and try to spend $400 especially with his "other expenses". Link his Ezlink Card or Nets Flashpay card (Transport expenses) and Telco to this credit card to try to accumulate more expenses. If you can't, don't force it. Just treat it as a bonus when it comes.

If he has $20,000 savings (Assuming $5,000 savings per year), he will earn $400 per year just on its interest.

Total Amount of money saved - A family of Four

Hi everyone,

Looks like I need to summarise all these cards which I am actively using and how it helps me to save money. However, I realize that I need to give you a glimpse of my profile so that you know whether it matches yours.

I am a working adult with a normal job, married with two kids, age 3 and 1 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.

From Maybank Family and Friends Card (Groceries) = $480

From NTUC U Member (Groceries) = $240 - 117 = $132

From OCBC 365 Credit Card (Petrol) = $60 (Counting on Cash Rebate only - Changed from Citibank Dividend Card)

From OCBC 365 Credit Card (Singtel) = $54

From OCBC 365 Credit Card (Dining) = $162

From Citibank Rewards Card (Departmental Store) = $40

From CIMB Platinum Card (Education, Insurance & Home Furnishing) = $200

From OCBC Frank Card (HDB Carpark) = $65

From POSB Everyday Card = $18

From NTUC Plus! Visa = $8

Total = $1219 (About $100 per month)

OCBC Frank Card with HDB Parking - 6% Rebate

http://www.frankbyocbc.com/products_creditcard.html

This is one card which has the highest rewards for online purchases with 6% rebate. This is excellent especially when I have large recurring payments which I pay online. One of which is my HDB Parking. :-) The strategy is to renew it every 6 months.

Drawback is that it needs a minimum of $500 spend which I don't really like. Another is that it gives a maximum of $60 rebates a month. Here is the statistics.

HDB Season Parking = $1080 ($90 per month)

Cash Rebate = $64.80 (Average of $5 per month)