UOB has announced a revision to the benefits of its UOB Preferred Platinum credit card, allowing cardholders to soon earn up to 5x UNIRinggit rewards points for selected transactions, including entertainment, dining, grocery, and petrol. This is slated to take effect starting from 1 May 2022.

Specifically, the new reward points earning structure for the UOB Preferred Platinum card will enable you to gain 5x UNIRinggit rewards points for every RM1 that you spend on entertainment, grocery, and dining (including drinking places). This is capped at RM1,000 under each category; every subsequent RM1 spent beyond the cap will not earn you any further UNIRinggit points.

Aside from that, you will also be able to earn 3x UniRinggit points for every RM1 spent on petrol expenses and recurring transactions. This earning rate is limited to RM500 for petrol expenses, whereas no capping applies for recurring transactions. Note that the benefit for recurring transactions only apply to expenses spent on telecommunications equipment and services, monthly telephone charges, and membership clubs (sports, recreation, and athlete clubs). It excludes payments made for insurance, utilities, and government services.

Additionally, you’ll continue to be able to earn 1x UNIRinggit points for every RM1 spent on any other expenses.

The revision is somewhat of an improvement from the existing earning structure of the UOB Preferred Platinum card, which currently lets you earn 3x UNIRinggit points for every RM1 spent on dining, overseas spend, and recurring payments. This is in addition to being able to earn 1 UNIRinggit points for what you spend on other expenses.

Here’s a table to better summarise the changes that will take effect starting from 1 May:

Expenses	Before 1 May 2022	1 May 2022 onwards
Overseas spend	3x UNIRinggit for every RM1 spent	N/A
Dining	3x UNIRinggit for every RM1 spent	5x UNIRinggit points for every RM1 spent (capped at RM1,000; now includes drinking places as well)
Entertainment	N/A	5x UNIRinggit points for every RM1 spent (capped at RM1,000)
Grocery	N/A	5x UNIRinggit points for every RM1 spent (capped at RM1,000)
Petrol	N/A	3x UNIRinggit for every RM1 spent (capped at RM500)
Recurring transactions	3x UNIRinggit for every RM1 spent	3x UNIRinggit for every RM1 spent (no cap)
Other spend	1x UNIRinggit for every RM1 spent	1x UNIRinggit for every RM1 spent (no cap)

So as you can see, the revision to the rewards points earning structure of the UOB Preferred Platinum card has made it a more rewarding card to use on a daily basis, catering to necessary day-to-day needs. This is in comparison to its previous position as a more exclusive card meant for those who travel often.

Aside from these adjustments, the other features of the UOB Preferred Platinum will remain unchanged. Its minimum annual income requirement is still set at RM40,000, and cardholders will still need to pay an annual fee of RM198 for the principal card, and RM30 for supplementary cards.

(Source: UOB)

• TAGS:
• Credit Card Revisions
• UOB
• UOB Preferred Platinum
• UOB UNIRinggit