Savings Accounts and Credit Cards June 2021

 

If you haven't read my previous post on this topic can click here.

My savings account strategy remained similar:

BOC Smartsaver: 1.45% pa for $80k(hurdle account). Topping up Grab using BOC Great Wall Debit is counted as credit card spending. You can transfer the amount back to your BOC Smartsaver after. 

Singlife: 1.5% pa for $10k. You can top up $500 to Grab using Singlife debit card and transfer back to qualify for the additional 0.5% pa. Recently nerfed from 2% to 1.5% pa net.

Dash EasyEarn: 2% pa for $20k

Dash PET: 1.7% pa for $30k

Great270: 2.72% for 20k. 5 years maturity, starting 8th May 2018 matures on 8th May 2023. This works out to be a monthly interest of $45.33

Commentary:

This is my strategy for hitting the powerup spending for Grabpay every month. 

The first two criterias are easy to hit. You can use a debit card to topup $1,600 on grabpay to hit the first criteria and use the transfer function to transfer the same amount back to your bank account.

The second and third criteria, you can buy $100 multiples of Q10 gift card. Each purchase gives you grab reward points and a 2% rebate. Once you spend $1,500 on the gift cards, and hit 20 transactions, you will get the bonus 20k grab reward points. Do note that buying Grabfood gift card is counted too. This means you are getting additional grab reward points, 2% rebate and 20k grab reward bonus just for buying Q10 gift card.

For the grab rewards point, I mentioned before, exchanging for the 35% 'points back' Capitastar vouchers is the most worth it. This promo was recently available and enable us to convert in unlimited amount. Once you have converted to Capitstars at 35% discount, use SP green up plant rank to convert your discounted stars to Capitastar vouchers at 30% additional discount. 

Do note that topping up your flashpay card with gpmc via GTM station is also counted for powerup.

Some might ask, what do I do with my Q10 coins that I bought? Q10 coins can be used to buy foodpanda vouchers. You can even use the 20% cart discount gotten from the spin draw to buy your vouchers at a 20% discount. For eg, I spend $13.97 to buy a $18 foodpanda voucher.

The Q10 coins stored in Q10 can be also used to buy discounted bulk items like kleenex, tissue rolls or masks when needed.

Credit card wise. I use UOB absolute now to top up GPMC to get the 1.7% cash rebate. Now that mobile AXS accepts gpmc, its enables me to get 1.7% rebate for mandatory payments that otherwise do not give me any rebate. GPMC is still my main card as the grab rewards points are too good to miss.