Are you looking for a credit card that suits your lifestyle and spending habits? With so many credit cards available in Singapore, it can be challenging to choose the right one. The UOB EVOL Credit Card is one of the most popular credit cards in Singapore, and it comes with many benefits and rewards. In this article, we will compare the UOB EVOL Credit Card with other credit cards in Singapore to help you make an informed decision.
Understanding the UOB EVOL Credit Card is essential before you compare it with other credit cards. The UOB EVOL Credit Card offers cashback on dining, entertainment, online shopping, and travel. You can earn up to 8% cashback on your spending, depending on the category. The UOB EVOL Credit Card also comes with a mobile app that allows you to manage your card and rewards easily. With the app, you can track your spending, check your rewards balance, and redeem your rewards.
Comparing Annual Fees and Charges is an important factor when choosing a credit card. Some credit cards charge an annual fee, while others offer a fee waiver. The UOB EVOL Credit Card has an annual fee of S$192.60, which is waived for the first year. The annual fee for other credit cards in Singapore ranges from S$192.60 to S$535. To help you choose the right credit card, we will compare the annual fees and charges of the UOB EVOL Credit Card with other credit cards in Singapore.
Key Takeaways
- The UOB EVOL Credit Card offers cashback on dining, entertainment, online shopping, and travel, with up to 8% cashback depending on the category.
- The annual fee for the UOB EVOL Credit Card is S$192.60, which is waived for the first year, while other credit cards in Singapore charge an annual fee ranging from S$192.60 to S$535.
- Comparing the UOB EVOL Credit Card with other credit cards in Singapore can help you choose the right credit card for your lifestyle and spending habits.
Understanding the UOB EVOL Credit Card
If you’re looking for a credit card that offers high cashback rates for mobile contactless spend, then the UOB EVOL Card might be the right choice for you. Here’s what you need to know about this card and how it stacks up against other credit cards in Singapore.
Key Features and Benefits
The UOB EVOL Card offers a range of benefits that make it a popular choice among Singaporeans. Some of the key features of this card include:
- High cashback rates of up to 8% on online and mobile contactless spend.
- No annual fee.
- Up to 7.8% p.a. interest on UOB One Account when you spend with UOB EVOL Card.
- Cashback cap of up to S$60 per month.
- Minimum spend of S$600 per month.
Cashback Rewards Structure
The UOB EVOL Card offers cashback rewards for online and mobile contactless spend. The cashback rate varies depending on the amount you spend. Here’s a breakdown of the cashback rates:
| Spend Category | Cashback Rate |
|---|---|
| Online and mobile contactless spend | 8% |
| All other spend | 0.3% |
Mobile Contactless Spend Advantages
One of the biggest advantages of the UOB EVOL Card is its high cashback rates for mobile contactless spend. This means that you can earn a significant amount of cashback when you use your card to make payments through Google Pay, Apple Pay, Samsung Pay, or Fitbit Pay.
The UOB EVOL Card also offers a range of benefits for mobile contactless spend, including:
- Faster payment processing times.
- Increased security features.
- Greater convenience when making payments on-the-go.
Overall, the UOB EVOL Card is a great choice for anyone looking for a credit card that offers high cashback rates for online and mobile contactless spend. With its range of benefits and features, it’s definitely worth considering if you’re in the market for a new credit card.
Comparing Annual Fees and Charges
UOB EVOL vs Other Cards
When it comes to credit cards, annual fees are an important consideration. The UOB EVOL Card charges an annual fee of S$192.6, which is comparable to other credit cards in Singapore. However, it’s important to note that some credit cards do not charge an annual fee at all. If you’re looking for a no annual fee credit card, then the UOB EVOL Card may not be the best option for you.
Fee Waivers and Conditions
The good news is that UOB EVOL Cardholders can enjoy a waiver of the annual fee for the first year. Additionally, the annual fee can be waived for subsequent years if you meet the minimum spend requirements. For example, if you spend at least S$1,000 per month on your UOB EVOL Card, you can enjoy a waiver of the annual fee for the following year.
It’s also important to note that the UOB EVOL Card charges an overlimit fee of S$40, which is higher than some other credit cards in Singapore. However, this fee can be avoided by keeping track of your spending and ensuring that you do not exceed your credit limit.
In summary, the UOB EVOL Card charges a comparable annual fee to other credit cards in Singapore. While it may not be the best option for those looking for a no annual fee credit card, the fee can be waived if you meet the minimum spend requirements. Additionally, it’s important to keep track of your spending to avoid the overlimit fee.
Comparative Analysis with Competitors
When it comes to credit cards in Singapore, there are many options available to you. However, if you are considering the UOB EVOL Credit Card, you may be wondering how it stacks up against its competitors. Here, we will take a closer look at how the UOB EVOL Credit Card compares to two other popular credit cards in Singapore: the DBS Live Fresh Card and the OCBC FRANK Card.
UOB EVOL vs DBS Live Fresh
One of the biggest differences between the UOB EVOL Credit Card and the DBS Live Fresh Card is the rewards program. While the UOB EVOL Credit Card offers cashback on dining, entertainment, and online shopping, the DBS Live Fresh Card offers cashback on online shopping, contactless payments, and mobile payments.
Another difference is the annual fee. The UOB EVOL Credit Card has an annual fee of SGD 192.60, while the DBS Live Fresh Card has an annual fee of SGD 128.40. However, the UOB EVOL Credit Card offers a higher cashback rate on dining and entertainment, which may make up for the higher annual fee.
UOB EVOL vs OCBC FRANK
The UOB EVOL Credit Card and the OCBC FRANK Card are also quite different. The UOB EVOL Credit Card offers cashback on dining, entertainment, and online shopping, while the OCBC FRANK Card offers cashback on online shopping, mobile payments, and NETS FlashPay Auto Top-Up.
One major difference between the two cards is the rewards cap. With the UOB EVOL Credit Card, you can earn up to SGD 60 cashback per month, while with the OCBC FRANK Card, you can earn up to SGD 75 cashback per month. However, the UOB EVOL Credit Card has a higher cashback rate on dining and entertainment, which may make it a better choice for those who frequently dine out or attend events.
In summary, the UOB EVOL Credit Card is a great option for those who spend a lot on dining, entertainment, and online shopping. However, if you are looking for a card that offers cashback on contactless payments or mobile payments, you may want to consider the DBS Live Fresh Card or the OCBC FRANK Card.
Eligibility and Application Process
If you are interested in applying for the UOB EVOL Credit Card, there are a few things you should know about the eligibility requirements and application process.
Minimum Income and Age Requirements
To apply for the UOB EVOL Credit Card, you must meet certain minimum income and age requirements. For Singaporeans and Permanent Residents, the minimum income requirement is S$30,000 per annum and the minimum age requirement is 21 years old. For foreigners, the minimum income requirement is S$40,000 per annum and the minimum age requirement is 21 years old.
Applying as Singaporeans, PRs, and Foreigners
If you are a Singaporean or Permanent Resident, you can apply for the UOB EVOL Credit Card online through the UOB website or at any UOB branch. If you are a foreigner, you will need to visit a UOB branch in person to apply for the card.
Documentation and MyInfo Integration
When applying for the UOB EVOL Credit Card, you will need to provide certain documentation to prove your eligibility. This includes your NRIC or passport, your latest income tax assessment, and your latest computerised payslip. You may also choose to integrate your MyInfo account with your application to make the process faster and more convenient.
Overall, the application process for the UOB EVOL Credit Card is straightforward and easy to follow. As long as you meet the minimum income and age requirements and have the necessary documentation, you should be able to apply for the card without any problems.
Advanced Card Management
If you’re looking for advanced card management options, the UOB EVOL Credit Card has you covered. Here are some ways you can leverage UOB’s digital platforms to manage your card:
Leveraging UOB’s Digital Platforms
With the UOB EVOL Credit Card, you can easily manage your card through the UOB Mighty app. The app allows you to view your card transactions, check your balance, and make payments on the go. You can also set up alerts to notify you of any large transactions or changes to your account.
In addition to the UOB Mighty app, you can also manage your card through UOB’s internet banking platform. This platform allows you to view your card statements, set up automatic payments, and manage your rewards points.
Managing Cash Advances and Overdrafts
If you need cash in a pinch, the UOB EVOL Credit Card offers cash advances. You can withdraw cash from any UOB ATM or over-the-counter at any UOB branch. Keep in mind that cash advances come with a fee and higher interest rates than regular purchases.
If you need to borrow more than your credit limit, you can also apply for an overdraft facility. This facility allows you to borrow up to your approved credit limit, at a lower interest rate than cash advances. Keep in mind that overdrafts also come with a fee and require approval from UOB.
Overall, the UOB EVOL Credit Card offers advanced card management options that make it easy to manage your finances on the go. Whether you need to check your balance, make a payment, or withdraw cash, the UOB Mighty app and UOB’s internet banking platform have you covered.
Frequently Asked Questions
How does the UOB EVOL Card’s rewards programme compare with the UOB One Credit Card?
The UOB EVOL Card and the UOB One Credit Card are both great cashback options, but for different types of spend. The UOB One Card is a flat rebate card working on a quarterly system, while the UOB EVOL Card offers 8% cashback on online and mobile contactless spend. Cardholders can earn up to 7.8% p.a. interest on their UOB One Account when they spend with the UOB EVOL Card.
What are the unique benefits of the UOB EVOL Card over its competitors in the Singapore market?
The UOB EVOL Card offers a suite of privileges at eco-conscious merchants, making it a great option for those who want to support sustainable businesses. Additionally, the card reduces the use of plastic by 84%, saves 4.48g of plastic, and lessens carbon footprint by 10g per card. The card also has one of the highest cashback rates (8%) in the market, making it a great option for those who want to earn cashback on their online and mobile contactless spend.
What are the eligibility criteria and income requirements to apply for a UOB EVOL Card?
To apply for a UOB EVOL Card, you must be at least 21 years old and have a minimum income of S$30,000 p.a. for Singaporeans and Permanent Residents, and S$40,000 p.a. for foreigners. You must also have a good credit score and meet UOB’s credit assessment criteria.
Can you detail the annual fee and any waivers associated with the UOB EVOL Card?
The UOB EVOL Card has no annual fee, making it a great option for those who want to avoid paying annual fees on their credit cards. However, there may be other fees associated with the card, such as late payment fees or cash advance fees. It’s important to read the terms and conditions carefully before applying for the card.
How does the foreign transaction fee on the UOB EVOL Card stack up against other Singaporean credit cards?
The UOB EVOL Card charges a foreign transaction fee of 3.25%, which is slightly higher than some other credit cards in Singapore. However, the card’s high cashback rate on online and mobile contactless spend may make up for this fee, especially for those who frequently shop online or travel overseas.
What’s the buzz about the UOB EVOL Card on platforms like Reddit compared to other UOB offerings?
The UOB EVOL Card has received positive reviews on platforms like Reddit, with many users praising the card’s high cashback rate and eco-friendly features. Some users have compared the card to other UOB offerings, such as the UOB One Card and the UOB YOLO Card, and have found that the UOB EVOL Card offers better rewards and benefits for their spending habits.
