SAVE MORE ON PETROL! Get up to 21.15% fuel savings at Shell when you pay with UOB Credit Cards

From today, enjoy EVEN HIGHER fuel savings of up to 21.15%* at Shell with UOB Credit Cards! Here’s the quick lowdown of this fantastic collaboration:

  • UOB One Credit Cardmembers enjoy 17% instant fuel discount at Shell + up to 5% cashback*.
  • UOB Reserve Credit Cardmembers enjoy 17% instant fuel discount at Shell.
  • All other UOB Credit Cardmembers enjoy a 14% instant fuel discount at Shell.

Find out more below on how you can enjoy higher fuel savings at Shell with UOB Credit Cards!

Score Higher Upfront Savings

Holding a UOB Credit Card? Score even higher instant discounts at Shell! Cardmembers will be pleased to know that Shell and UOB Cards have increased their instant discount component to bring you even higher fuel savings as shown below.

Terms and Conditions Apply:

1 Up to 21.15% savings for UOB One Credit Card is calculated based on 5% upfront Shell station discount, 5% upfront Shell Escape discount, 7% UOB One Credit Card instant discount, and, if applicable, up to 5% UOB One Credit Card cashback.

2 Instant 17% discount for UOB Reserve Credit Card is calculated based on 5% upfront Shell station discount, 5% upfront Shell Escape discount and 7% instant discount for UOB Reserve Credit Card.

3 Instant 14% discount for other UOB Credit Cards is calculated based on 5% upfront Shell station discount, 5% upfront Shell Escape discount, 4% upfront discount for other UOB Cards.

4 Enjoy up to 5% cashback based on a spend of S$2,000 monthly for each qualifying quarter with min. 5 purchases monthly to earn the quarterly cash rebate of S$300. Visit uob.com.sg/one for full terms and conditions.

Valid Shell Escape Card must be presented to the cashier to enjoy the bank upfront discounts. Other terms and conditions apply. Visit uob.com.sg/fuelpowershell for more details.

Please note that there has been an update to the UOB SMART$ programme at Shell. Earning of UOB SMART$ at Shell has ceased and the last day of redemption of UOB SMART$ at Shell will end on 16 June 2021, 23:59.

As shown above, UOB One Credit Cardmembers  who pump at Shell can earn up to a whopping 21.15% discount as shown in the example above. This makes it one of the most enticing offer in the market today!

To earn the attractive cashback from your UOB One Credit Card, simply pick up your daily necessities available at the Shell Select stores. Shell Select are stocked with a variety of snacks and beverages along with other convenient items, all selected for the high quality to ensure that you get the best available. Refuel your car for the journey ahead and enjoy a pleasant and hassle-free customer experience at Shell Select!

Earn More Rewards With Shell Escape Loyalty Programme

To enjoy upfront savings, don’t forget to sign up for the Shell Escape Loyalty Programme card.

Simply pick up a Shell Escape Card and register for the Shell Escape Loyalty Programme online at your convenience. Once you have registered, you are on your way to earn Shell Escape points on your fuel purchases. Pump more at Shell today to accumulate more Shell Escape Points! Thereafter, treat yourself to a plethora of deserving rewards simply by redeeming your Shell Escape points.

Sign up For UOB One Credit Card Now

If you do not have a UOB One Credit Card, simply sign up for one so that you can immediately enjoy higher fuel savings at Shell! Remember to present your Shell Escape Card to boost your rewards at Shell further! Sign up now for a UOB One Credit Card today at https://www.uob.com.sg/onecards/apply-now.html

 

 

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Expenses You Must Never Swipe On Your Credit Card

I have to admit! Credit cards are convenient, especially at this time. However, swiping your plastic card often costs you more money than other payment options. Regular charges from interest rates and annual fees are coupled by hidden surcharges. The latter are transaction-based fees that can add up!

You must maximize your savings and use your debit card as much as possible. On that note, here are the expenses that you must avoid charging into your credit cards.

#1: EDUCATION EXPENSES

Most schools and universities accept credit cards as a form of payment nowadays. Some even offer attractive interest rates. Just because it is available does not mean you have to use it. During my time, a diploma course in a private institution costs S$10,000 a year. Imagine paying a 3.5% interest per month? This will accumulate to about 51.11% interest in an annum. This is too much, if you ask me.

#2: GAMBLING EXPENSES

Gambling addiction is inside the Psychological manual of Psychologists and therapists. Gambling is there for a reason! It poses an uncontrollable damage on one’s finances and relationships. If you are thinking of using your credit card to cover your gambling-related costs, you are in deep trouble. Go home!

Contemplate on the monthly interest rates you will have to pay on the top of hidden fees. The interest rate will shoot up continuously until you pay your balance in full amount.

#3: MEDICAL EXPENSES

Many experts agree that you must use your Government medical allowance, non-retirement savings, and available cash to pay for medical expenses. If the COVID-19 situation is tough for you, you may get a low-cost loan option too. Medical expenses can immediately put you in a mountain of debt. You cannot simply turn to your credit card to pay for your entire hospital bill!

Image Credits: unsplash.com

As you take in all the above information, it is important to know how to avoid surcharges. Follow these tips.

a. Use a debit card to pay for your retail expense as it directly deducts from your bank account. Another electronic service that rarely incurs fees is NETS.
b. Book your flights using travel points. Use your travel points or air miles when you book for a flight overseas.
c. Use vouchers when institutions do not accept credit card points or rewards.
d. Link your credit card to PayPal. PayPal allows you to link your bank accounts in one place. This way, you will be able to pay the merchant free of extra fees.
e. Search for other businesses that offer zero interest rates on credit card transactions.

May these tips help you shop around!

Sources: 1 & 2

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Beginner’s Guide To Credit Cards

DEFINITION

Swiping a credit card is the polar opposite of using a debit card. The latter allows you to spend the money that you already have in your checking account. While, the former lets you borrow money from a financial provider. You have to pay an interest at the end of every billing statement.

Be forewarned that having a credit card does not equate to having “free” cash around. It only means that you are expected to pay back whatever you borrowed at a given period of time. Furthermore, you are held responsible to check whether you are spending within the maximum limit.

MECHANISM

How do credit cards work? As a responsible owner of a credit card, you must know the mechanism behind owning one.

Firstly, you must apply for a credit card. Research on which type of card suits your needs the best. Choose a card based on your eligibility, your credit score, your annual income, and your lifestyle. One credit card may have an annual fee, while the other may have a discounted fee for the first year.

Secondly, you must wait for the financial provider’s approval. Major credit card companies often use online services for their card applications. Thus, you will he able to review your application results immediately. Once approved, your financial provider will send you a physical card.

Thirdly, you must make purchases with your card. To spend online, simply enter your credit card number and other additional information (e.g., CVC at the back of the card). Your balance will add up as you spend. Remember to keep an eye on your credit card limit.

The last step is for you to review your billing statement and pay promptly as you have agreed.

SUGGESTION

For beginners, some of the best credit cards this year are as follows. You can count on the American Express Platinum Credit Card for rewards, OCBC 365 Card for dining benefits, and Citi VISA PremierMiles Credit Card for travel miles.

A. American Express Platinum Credit Card lets you reap these benefits:

* Receive 1 Night Stay at Swissôtel The Stamford Singapore worth S$529 upon Annual Fee payment.
* Receive an additional Samsonite Sigma 76cm Expandable Spinner worth S$600 when you spend S$4,500 within the first 3 months of Card Approval.
* Receive S$20 CapitaVouchers each, for the first two approved Supplementary Cards.
* Enjoy Love Dining @ Restaurants privileges which offers up to 50% savings on food orders at a handpicked selection of popular restaurants.
* Love Dining @ Hotels offers you exceptional year-round privileges and savings of up to 50% on food bills for unlimited visits at selected 5 star hotels around Singapore.
* Enjoy a complimentary drink with purchase of at least one item from the merchant’s menu at over a dozen fashionable bars in Singapore.

To qualify, you must have a minimum income requirement of S$50,000 per annum for Singapore Citizens and Residents and S$60,000 per annum for Expatriates. Terms and conditions apply.

B. Citi VISA PremierMiles Credit Card lets you collect travel miles, which you can use in renowned airlines’ frequent flyer and hotel loyalty programs. These include Krisflyer, Asia Miles, and Qantas. You will be rewarded fast as you spend with your card. Terms and conditions apply.

C. OCBC 365 Card is best used for dining. It has a cashback promo that allows you to reap rewards whether you dine internationally or locally. Here is a layout of the rewards:

* 0.3% cashback on ALL spending
* 3% cashback on TELCO bills, local supermarkets, and online purchases
* 3% to 6% cashback when you dine in restaurants island-wide
* 5% cashback on petrol purchases
* Up to 18.3% discounts at petrol stations
* 3% cashback on medical spending – under Child Development Account
* Complimentary travel insurance (up to SGD $800 coverage)
Terms and conditions apply.

Image Credits: pixabay.com

Be wise when choosing your first plastic card! 🙂

Sources: 1 & 2

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6 Credit Card Do’s & Don’ts

DO NOT SPEND WITHOUT CONTROL

Let me start by saying that you must not spend more than what you can afford. Remember that credit is a loan, which is meant to be repaid. It is your responsibility to stay on top of your debts and to keep your commitment with the lenders. Maintain your control by avoiding the credit limit of your cards.

DO CHECK YOUR CREDIT HISTORY

Reality check! Credit cards with premier rewards and terms fall down to candidates with the best credit. This is why it is important to see your financial circumstance in the eyes of an issuer. Consider getting a credit report, before availing a credit card. Keep your eyes peeled to some errors!

Image Credits: pixabay.com

DO NOT PICK AN UNSPECIFIC CARD

Much like a box of chocolates, credit cards exist to embody different functions. Some are used for travel miles and others are used for shopping rebates. You must figure out which credit card suits you best! Compare credit card options from different issuers, before making a grand decision.

DO KEEP UP WITH YOUR STATEMENTS

To reap the benefits of your credit cards, you must fully pay for your statement each month. Not paying the full amount entails acquiring interest. The interest that you will be paying for will just cancel out any benefits that you are meant to receive. Moreover, paying off your statement each months ensures that you stay out of debt too.

DO NOT GIVE YOUR CREDIT CARD INFORMATION AWAY

As much as you trust a partner or a friend, you must not give your credit card information to someone else. It may entice this person to use it against the law. Say that you lent your credit card to a co-worker. While some cashiers do not check NRIC these days, you will never know when someone will ask for it. You would not want to be entangled with a “fraudulent” scene.

Image Credits: pixabay.com

DO MEMORIZE THE ISSUER’S HOTLINE

A credit card offers an additional layer of protection than a debit card. Debit cards only offer the pin numbers as protection. You see, credit card companies often have a department that follows up on reports of fraudulent charges. Things will be taken cared of, if you quickly report a stolen credit card. Thus, you must know the no-cost hotline of your credit card issuer.

Sources: 1 & 2

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Five Credit Card Safety Tips

Whether you are doing business online or you have a physical store, payment security is a must for you. Credit card payment is one of the popular ways for customers to pay for the goods or services that they are availing.

It is essential to your business to make sure that the credit card payment you are taking is free of fraud. Consumers who are victims of fraud purchases can file chargebacks through their credit card companies, leaving you on the losing end, especially if you have already shipped the goods.

On the other hand, you have to secure your payment system as well, so the cardholder’s information will not fall on the hands of cyber thieves.

Here are some credit card safety tips for you to minimize business’ losses:

1. Verify the issuing card company

If you are taking payments over the phone and you are unsure of the issuing card company, try a BIN lookup. Just enter the first 6-8 digits of the card number, and it will tell you the issuing card company.

Knowing the issuing card company will help you if there is a need for you to report a suspected fraud. Do not even think twice in calling the issuing bank. Fraudulent transactions will do you no good. It may look like money, but it will be reversed anyway.

2. Take advantage of an Address Verification System (AVS)

Credit card companies and issuing banks cooperate with merchants to check whether the submitted billing address by the customer matches with the address on their end. Major card companies such as Visa, MasterCard, American Express and Discover Card support AVS.

If you are using a payment processor, talk to them on how to integrate and implement AVS on your payment processing.

Briefly, though, this is how AVS works:

  • When you make the AV request, the first 4 to 5 digits on the street address and the zip code will be checked against the address on file at the bank. For instance: 1238 Main Street, Main USA 98763. What will be checked are “1238” and “98763.”
  • There will be six return codes for the check namely: full match, partial match address, partial match zip code, no match, international, and unavailable. You will receive one of these codes.

A full match is ideal as it comes with less risk. If the shipping address matches with the address on file at their issuing bank, then it is harder for the customer to dispute the transaction.

  1. Maintain a secure network

    Invest in high-grade encryption especially that you are processing payments. In doing this, you are not only protecting your business but also your customers’ information.
    Apart from encryption, there are other ways to secure your network:
  • Install anti-malware software especially those that can run in the background.
  • Update your tools regularly so weak spots will be fixed.
  • Utilize layered security measures like using strong passwords and two-factor authentication.

Always be watchful of the different fraudulent schemes of these con artists.

  1. Be PCI Security Compliant

The Payment Card Industry has set some guidelines on how to secure cardholders’ information. You can read the details of these guidelines on the PCI Security Standard Council’s website.

Take some time to read the guidelines so you can implement the security measures recommended. These measures suggested will keep the acceptance and transmission of cardholders’ information safe. Being compliant to these is one of the best ways to combat credit card fraud.

5. Be critical of customers’ purchasing behavior

As it is essential to secure your payment system technically, it is equally important for you to be vigilant on customers’ behavior.

These are few things to be watchful of on your customers:

  • Multiple items in an order especially if it doesn’t make sense.
  • Multiple orders on the same day.
  • Orders coming from countries you unusually get orders from.
  • Big items such as tv’s or laptops.

You can require additional identity verification for unusual purchases. Customers will appreciate your effort as you explain to them the purpose of what you’re doing. After all, it is for their own safety, too.

Maintaining the safety of credit card payments and making sure that you are taking payments from the legitimate cardholders will not only ensure that your business is profit-wise, it will also safeguard your reputation.

As an entrepreneur, you cannot afford to lose some profit to con artists and tarnish the reputation you are working hard to build. Carefully examine your current payment system and make the necessary changes if needed.

 

 

 

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