What you need to know about the UOB Reserve Card (Yup, We mean THAT diamond embellished metal card)
A world of exclusive privileges is what UOB Reserve Card is all about as the latest prestigious credit card in Singapore. United Overseas Bank, the issuer of the card, promises highly customized services that can suit any taste and lifestyle preference, in Singapore and abroad.
The provider has sought to differentiate the credit card from the competition, by promising one of a kind concierge services as well as extraordinary cruises and travel experiences designed to treat and pamper anyone. In addition, the card promises access to a four-hour private yacht experience at a relatively low price as well as complementary medical concierge services.
The diamond embellished card is to be issued to UOB privilege Reserve wealth management service clients.
However, the credit card did not have the best of starts after a typo gaffe threatened to erode its reputation.
UOB Reserve Card’s ‘Extinguished’ Gaffe
United Overseas Bank was forced to apologize after typos on the plaque displaying the diamond-embellished card attracted backlash on social and mainstream media. The typo proclaimed that the credit card was ‘for those who value exclusivity in its most extinguished form’ instead of ‘distinguished form.’
According to the head of cards and payments Ms. Choo Wan Sim, the text that was printed for a table display at a private event, was overlooked during a clearance meeting.
“We are sorry and will not let this happen again,” proclaimed Ms. Choo
The typo, however, appears to have done little to discredit UOB Reserve Card credentials, when it comes to exclusive privileges designed to suit all kind of lifestyles.
How to qualify for the UOB Reserve Card
UOB Reserve Card is an exclusive invite-only credit card. What this means is that the issuer will send requests to potential customers who it feels meet all the requirements. One must have at least $2million in deposits and investments with the bank to be considered.
While an annual fee of $3,853 may come as a surprise to many, it is not expected to be a bother to people with an investment of more than $2 million looking to enjoy one of a kind perks and benefits.
UOB Reserve Card Perks
Unlimited Discounted Miles
UOB Reserve Card offers 100,000 renewal miles each year. Cardholders can also purchase unlimited discounted miles from UOB at an equivalent rate of S$19 per mile. Cardholders also stand to earn extra 100,000 miles on simply paying the annual fee.
A bonus of 100,000 miles is on offer to cardholders who spend more than $250,000. The miles can be redeemed’ and used to pay for income tax, property tax among other business expenses.
Exclusive Access to Members Only Clubs
UOB Reserve Card accords cardholders exclusive access to some of the finest and elite member’s only clubs in Singapore and London. Tower Club and China Club in Singapore are some of the clubs that members are guaranteed entry in Singapore, as well as Home House and Eight Members Club in the U.K.
Access to Privilege Banking Suites in Singapore is also guaranteed as well as free golf at Sentosa. Cardholders can also take advantage of Club at the Hyatt membership as well as complimentary limousine transfers.
Hotel Status Benefits
UOB Reserve Card cardholders are entitled to travel perks that include room upgrades as well as welcome amenities and late check-out at participating hotels. Cardholders can also take advantage of unlimited Priority Pass access in lounges across the world.
Cardholders are also entitled to promotional prices on Business/First Class/Suites on Singapore Airlines. Other benefits include travel insurance as well as airport transfer and free hotel room nights.
United Overseas Bank has a broad selection of credit cards that customers can choose from, depending on use and the amount of credit line they wish to get access to. The bank’s in-depth knowledge of the Singaporean financial needs is correctly reflected in the diverse range of credit cards on offer designed to address various lifestyle preferences.
The company’s credit cards come with fantastic rewards designed to cater to the needs of different people as well as demand. The dollar values on offer, with the credit cards, vary a great deal depending on the users spending habits. In addition to standard perks, the credit cards also come with intangible benefits such as travel insurance, free VIP access in some airports.
In addition to UOB Reserve card, below are some of the company’s other credit cards that one can apply for.
Other UOB Credit Cards (For the rest of us)
UOB One Card
UOB One Card is a one of a kind credit card that offers the highest flat rate cash back rewards in Singapore. The credit card is ideal for people with high visibility or consistency on monthly expenses. It comes with an annual fee of $192.6, waived on the first year, as well as flat rate cash back of up to 5%.
Optimizers who can spend S$2,000 per month should be able to get the most out of UOB One card. Maintaining a consistent amount of speeding is a sure way of optimizing the rewards of UOB One Card. The card is not for people with irregular spending pattern.
The credit card also offers a 24% discount on petrol bought at SPC and Caltex. Cardholders also stand a chance of earning extra interest income of up to 3.3% as well.
UOB PRVI Miles American Express Credit Card
UOB PRVI Miles American Express Credit Card is a credit card for people who are always on the move, traveling from one place to another. The card comes with an annual fee of S$256.8 and offers one of the highest flat rate mile awards. For every S$ spent locally, cardholders stand to earn 1.4 miles while every S$1 spent overseas entitles one to 2.4 miles.
Cardholders can take advantage of a complimentary third or fourth night at Mandarin Oriental Hotel offer with the card or complimentary third night with every two nights booked at Pan Pacific hotels. The card also provides free limousine rides to Changi Hotel as well as access to American Express Selects.
The credit card also comes with 20,000 loyalty miles bonus, every year, on a cardholder spending at least S$50,000. Cardholders spending S$50,000 locally stand to earn 70,000 miles which come with a bonus of 20,000 miles. The miles can be redeemed for a round trip to Korea or a trip to Bali.
The major downside to UOB PRVI Miles American Express Credit Card has to do with the fact that the points awarded expire every two years. The policy makes it difficult to accrue a substantial amount of points over long haul trips. The card also does not provide many perks as other luxury cards in the market.
UOB Delight Credit Card
UOB Delight Credit Card is ideal for people who spend heavily on groceries as it allows one to save up to 18% on purchases made at Cold Storage, Giant, and Guardian. Cardholders can also take advantage of a 3% discount on mass transit and utility bills, ideal for people with fixed expenses that need to be taken care of every month. It is also one of the best cash back rewards credit card in the market.
Other perks on offer include up to 10% discount at over 900 merchants under UOBs Smart Merchant Program. Cardholders can also enjoy 3% rebate on all contactless transactions like public bus and taxi rides with a minimum spend of S$400.
One must spend at least S$800 every month to be able to enjoy the full benefits of the card. In addition, there is a S$50 monthly cap in cashback upon earning 0.3% cashback.
UOB Delight Credit Card is one of the most affordable credit card given that it comes with an annual fee of S$85.6. The credit card stands out mostly because of its 8% rebate offered at supermarkets which is the highest in the market.
UOB Yolo Card
Living up to the saying ‘you only live one’s, UOB Credit card seeks to provide the best rewards when it comes to entertainment. The credit card offers discounts of up to 8% discount on entertainment, dining as well as grab rides on the weekends. It also comes with a 3% discount on online fashion and travel transactions.
In addition, the credit card comes with complimentary nightlife perks such as priority queues at some of the best clubs in Singapore as well as one for one drink specials. Prospective cardholders will have to contend with an annual fee of S$192.6, waived in the first year.
Why You Should Choose UOB Credit Cards
UOB is an established Singapore company with in-depth knowledge when it comes to the financial needs of people in the country. The company’s credit card portfolio is designed to meet the needs and lifestyle preference of its diverse range of customers residing in the island nation.
The credit cards are not only ideal for use in the country but also come with a string of benefits that cardholders can take advantage of, while abroad.
Attractive cashbacks on shopping online or in brick and mortar stores or while dining or buying fuel is one of the major attributes that make the company’s offerings stand out. Given the vast portfolio of credit cards, it does not come to a surprise that different credit cards fit different lifestyle preferences and needs.
Cashback or Rebate Credit Cards.
UOB One Card and UOB Yolo Care are the best credit cards for people who wish to get rebates when it comes to everyday spending. UOB Visa Signature does not come with a cap on rebates thereby making it ideal for people engaged in intense shopping. Other cards to consider in this case include UOB JCB, Card UOB Union Pay Card and Metro- UOB Card.
Travel Credit Cards
For people who are constantly on the move, a credit card that accrues a substantial amount of miles is a must. In this case, UOB PRVI Miles Express Card should be the choice of high spenders as it comes with no limits when it comes to earning and spending air miles. UOB Visa Signature Card, on the other hand, provides cardholders an opportunity to win cash rebates on overseas and online spending.
Reward Credit Cards
UOB Rewards program is entirely based on cardholders spending on purchases. Cardholders can earn UNI$ on spending overseas or at departmental stores as well as UOB Rewards Points. The best credit cards, in this case, are UOB Lady’s Card, UOB Proffered Platinum Card and UOB Professional Platinum Card
Dining and Entertainment
UOB has sought to provide cardholders great rebates while dining or attending entertainment events both at home and abroad. UOB Yolo Credit Card is one such card that comes with exciting rebates for entertainment and dining. UOB JCB Card, on the other hand, offers excellent discounts while at Japanese’s stores and restaurants. UOB professionals Platinum Card is another credit card worth considering