UOB To Revise Annual Fees For Its UOB ONE, UOB ONE Platinum
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UOB Bank has announced that it will be revising the annual fees for its UOB ONE and UOB ONE Platinum credit cards, set to take effect starting from 1 June 2023.

Following this update, the annual fee for the UOB ONE card will be increased from its existing charge to RM120 and RM60 for the principal and supplementary card, respectively. Meanwhile, the UOB ONE Platinum card will soon cost RM195 (principal) and RM100 (supplementary) to own.

For comparison, here’s a table specifying the current and revised annual fees for both cards:

Card typeCurrent annual feeRevised annual fee (as of 1 June 2023)
UOB ONE card– RM68 (principal card)
– RM30 (supplementary card)
– RM120 (principal card)
– RM60 (supplementary card)
UOB ONE Platinum card– RM168 (principal card)
– RM30 (supplementary card)
– RM195 (principal card)
– RM100 (supplementary card)

As for the benefits and features of the UOB ONE and UOB ONE Platinum cards, they will all remain unchanged. Cardholders will continue to be able to earn 10% cashback on four categories of expenses – petrol (including Setel CardTerus transactions), groceries, dining, and Grab transactions (including GrabPay topup) – in addition to an unlimited 0.2% cash rebate for all other retail purchases. To unlock this maximum cashback rate, however, you must meet the minimum monthly spend requirement, set at RM500 for UOB ONE and RM1,500 for UOB ONE Platinum.

Similarly, the cashback cap for the cards is also maintained at RM10 and RM15 per spend category for UOB ONE and UOB ONE Platinum, respectively. This means that UOB ONE cardholders will get a total of RM40 cashback if they maximise the benefits of their card, while UOB ONE Platinum cardholders can get up to RM60 cashback (not including the unlimited 0.2% cash rebate).

For context, this update by UOB is likely made in a bid to standardise the benefits and features of the UOB ONE card and the Citi Cash Back credit card, as UOB has acquired Citi’s consumer banking business in Malaysia (along with those in Indonesia, Thailand, and Vietnam). Back in August 2022, the perks of the UOB ONE and UOB ONE Platinum cards were revised to match those of the Citi Cash Back card, which is a popular card among cardholders.

Meanwhile, UOB’s efforts in consolidating and migrating Citi’s products and services to its own ecosystem is expected to continue until the end of 2023.

(Source: UOB)

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