Effective 1 March 2021, UOB will revise its YOLO credit card to offer a smaller total payout quota for its cashback benefit each month. The amount will be reduced from RM160,000 per month to RM120,000 per month.
“The total cashback payout is RM120,000 per calendar month, which will be awarded on a first-come first-served basis. UOB Malaysia does not have any obligation to inform the cardmembers should the cashback payout reach the maximum payout limit,” said the bank in its updated Clause 10 in the latest terms and conditions (T&C) document.
Apart from this, there will be no changes to the other features of the UOB YOLO card since the substantial update that was previously introduced in January 2020. You will still be able to earn up to a maximum of 5% cashback on three spend categories: online, dining, and contactless purchases – provided you carry out at least 5 transactions worth RM15 and above each month. The cashback cap, too, remains unchanged at RM30 per month.
For your knowledge, prior to January 2020, the UOB YOLO’s monthly cashback pool had actually been set at RM120,000 – it was only increased to RM160,000 during last year’s revision. With this latest update, the cashback pool will be reduced once more to its pre-2020 amount.