You Gotta Love OCBC

[x9200]

So how much $$ you earn this way and how this corresponds to your level of salary?

[zzm9980]

and a lot delude themselves saying the points, benefits etc outweigh the interest

yah right

You can still get all of those points and benefits paying off in full every month. I'm not as crazy about it as the guys WD40 talks about, but I charge all of my overseas spend while traveling to one specific card (Citi Premier Miles) and have my company reimburse it. I travel a lot, but without thinking I've made about 300,000 Kris Miles off that card in the past couple of years. Sure maybe I could have gotten 350k or something if I min-maxed every possible card offer on some threads on other boards, but whatever. Kris points kind of suck anyway, they still charge you a bomb for surcharges and taxes on your 'free' ticket. Should have done BA Avios. Oh well.

The other thing I do (which most people laugh at but it helps) is to buy/reload Starbucks gift cards with Citibank for the 10% rebate, and then only buy the drinks with the card (every 13th drink is free). If I buy two drinks at a time and there is no queue, I ask them to ring each one up individually. Usually they're cool with it Overall both of these together are probably saving me 15-20% overall on my spending there. (I drink a lot of coffee, at least 2x a day, and it's usually there unless I can get to one of the good shops that are usually not in a convenient spot for me.)

[Wd40]

So how much $$ you earn this way and how this corresponds to your level of salary?

Its negligible compared to my salary. In fact my investment portfolio fluctuates everyday by a much bigger magnitude. But different people have different approaches towards money. Even if I become a millionaire, I will still keep saving all of it and stashing it away for the rainy day, even if I know the rainy day may never come. That's just how my mental make up about money is. If I see a way of saving even $1, I will try saving it or the other way around, If I have to spend even $1, I will try to make the most of it.

[x9200]

Don't take it as a personal attack but I simply don't understand the logic. Leaving aside that I prefer to have some time for my own or my family instead of earning $1 from cards benefits, if you are that focused on earning why you don't do it more effectively? Spending some hours to get to and back from Orchard or even more hours to go to JB by your motorbike to buy some petrol (earlier discussion some long time ago) seems like a complete waste in this time-money superposition puzzle.

[Wd40]

Depends on your work-life balance. In my case it is heavily tilted toward life rather than work. I just stay in office for the 1st 2 hrs in the morning and then I connect from home. Lots of time for family Infact they are now bored of seeing me at home so often, lol. Kind of empty mind devil's workshop.

Different people get highs from different things in life. For some people its shopping. Some people it is being completely focussed in their career.

BTW, I don't go to Orchard road just for this, I make sure I combine it with something else. Regarding going to JB, I don't know its thrilling for me know that something is so cheap there and going there making use of it, gives me the high, sense of accomplishment. Cant put it in words, but like I said, not everything we do in life has to have lot of economic value for it to make sense. Somethings we do because we like doing it.

For example, browsing this forum. My wife asks me why do I spend so much time on this, what do I get out of it. My reply to her, "Why do you spend so much time on Candy Crush, what do you get out of it?"

[Beeroclock]

and a lot delude themselves saying the points, benefits etc outweigh the interest

yah right

You can still get all of those points and benefits paying off in full every month. I'm not as crazy about it as the guys WD40 talks about, but I charge all of my overseas spend while traveling to one specific card (Citi Premier Miles) and have my company reimburse it. I travel a lot, but without thinking I've made about 300,000 Kris Miles off that card in the past couple of years. Sure maybe I could have gotten 350k or something if I min-maxed every possible card offer on some threads on other boards, but whatever. Kris points kind of suck anyway, they still charge you a bomb for surcharges and taxes on your 'free' ticket. Should have done BA Avios. Oh well.

The other thing I do (which most people laugh at but it helps) is to buy/reload Starbucks gift cards with Citibank for the 10% rebate, and then only buy the drinks with the card (every 13th drink is free). If I buy two drinks at a time and there is no queue, I ask them to ring each one up individually. Usually they're cool with it Overall both of these together are probably saving me 15-20% overall on my spending there. (I drink a lot of coffee, at least 2x a day, and it's usually there unless I can get to one of the good shops that are usually not in a convenient spot for me.)

The best is if you can find a card that gives you benefits for things you do anyway. we also do the starbucks 10% citi rebate. And the plus card rebates delivery fees for online fairprice which probably works out to around $200 p.a. And don't forget to check your statement for the annual fee and call them for the waiver request.

WD40 I think I have a similar money attitude, I also used to get very tempted by the cash rebate to sign up for these cards, seemed like free money (well a bit of time to fill in a form). At one stage I had 7-8 cards at which point it seemed ridiculous and then I cancelled most of them. But definitely there must be a decent percentage of people who pay interest and/or annual fees to make it worthwhile for the banks and offset customers like me who don't pay either.

[JR8]

For example, browsing this forum. My wife asks me why do I spend so much time on this, what do I get out of it. My reply to her, "Why do you spend so much time on Candy Crush, what do you get out of it?"

Echo!!

[ecureilx]

..3x OCBC points on Overseas spend is OK too, and I believe they used to give you a free scotch once a day at Quaich Bar. If you like scotch, that will pay for itself pretty quickly here in Singapore. (I'm hazy on the details, but I know this was discussed in a thread on Flyertalk)

Quaich = @ RWS / Sentosa ?

I got plenty of ideas from the HWZ forum threads. One of them is to pay off my sp services bill at the customer service centre in Orchard road, which is the only way you can pay the SP services bill using CC and get points. I usually go there like once in 3-4 months and pay in bulk like $500-600 at a time.

What you describe is exactly the kind I have seen, people insisting you use their card to pay the dinner bill, for example and the card holder willing to wait till your pay day to pay back .. etc.

And when I dabbled in Herbalife, people used to round up their order, to keep their status, and end up buying stuff they can't sell .. since, a buy at 1,500 = more points, vs a buy at 1450 .. so you use up 50 $ just to keep the status

oh, btw, did you say you hold your PUB Bills ? remind me again, doesn't PUB Charge interest for delayed payment ??

[Wd40]

..3x OCBC points on Overseas spend is OK too, and I believe they used to give you a free scotch once a day at Quaich Bar. If you like scotch, that will pay for itself pretty quickly here in Singapore. (I'm hazy on the details, but I know this was discussed in a thread on Flyertalk)

Quaich = @ RWS / Sentosa ?

I got plenty of ideas from the HWZ forum threads. One of them is to pay off my sp services bill at the customer service centre in Orchard road, which is the only way you can pay the SP services bill using CC and get points. I usually go there like once in 3-4 months and pay in bulk like $500-600 at a time.

What you describe is exactly the kind I have seen, people insisting you use their card to pay the dinner bill, for example and the card holder willing to wait till your pay day to pay back .. etc.

And when I dabbled in Herbalife, people used to round up their order, to keep their status, and end up buying stuff they can't sell .. since, a buy at 1,500 = more points, vs a buy at 1450 .. so you use up 50 $ just to keep the status

oh, btw, did you say you hold your PUB Bills ? remind me again, doesn't PUB Charge interest for delayed payment ??

Nope, I meant the opposite. I pay PUB bills in advance. I dont mind losing the interest rate that banks pay here.

[x9200]

BTW, I don't go to Orchard road just for this, I make sure I combine it with something else. Regarding going to JB, I don't know its thrilling for me know that something is so cheap there and going there making use of it, gives me the high, sense of accomplishment. Cant put it in words, but like I said, not everything we do in life has to have lot of economic value for it to make sense. Somethings we do because we like doing it.

For example, browsing this forum. My wife asks me why do I spend so much time on this, what do I get out of it. My reply to her, "Why do you spend so much time on Candy Crush, what do you get out of it?"

Sure you do some other shopping, but I bet you do it because you go there for the card benefits and not the other way around. I know too well the mechanizm, on a different ground though.
But I will believe and understand if you tell me you do it all for your personal satisfaction and pleasure of earning these few bucks this particular way. If you are happy with it, this is a very good reason, be it Candy Crush, browsing this forum, anything. But it is not like this has any money saving value.

My father used to spend few hours every Sunday driving around and visiting different markets in town to buy some veggies or other stuff for the price he liked. What he saved this way was probably one order of magnitude lower than his expenses on petrol alone, but he liked it and this is the whole justification needed.

[Wd40]

The best is if you can find a card that gives you benefits for things you do anyway. we also do the starbucks 10% citi rebate. And the plus card rebates delivery fees for online fairprice which probably works out to around $200 p.a. And don't forget to check your statement for the annual fee and call them for the waiver request.

WD40 I think I have a similar money attitude, I also used to get very tempted by the cash rebate to sign up for these cards, seemed like free money (well a bit of time to fill in a form). At one stage I had 7-8 cards at which point it seemed ridiculous and then I cancelled most of them. But definitely there must be a decent percentage of people who pay interest and/or annual fees to make it worthwhile for the banks and offset customers like me who don't pay either.

I also make sure that I dont spend on anything thing that I dont need to spend on. In my case, when my wife goes on a retail therapy spree, using a credit card, makes it a less painful experience. I mean, wife does all the shopping and has fun, atleast there is something that I get out of it, lol. No, I am just kidding, wife doesnt shop all that much, but whatever she does, I benefit in it as well.

I think 7-8 cards are just too much to manage. I only have 3 cards at them moment UOB One, DBS Altitude and Standard Chartered platinum(which I dont use). UOB One is my primary card now.The other cards I apply for the initial rebate and once I get the rebate($50-80) I cancel them. Some companies allow you reapply after like 3 months of cancelling and you again get the rebate. Like HSBC. I already got the rebate of $80+50 from them and cancelled it few months ago and now applied again

I think credit card companies also make money when we make a purchase, a percentage of the transaction fee goes to Visa/Mastercard etc and some goes to the card company. Ofcourse its the merchant that coughs this up.

[Wd40]

My father used to spend few hours every Sunday driving around and visiting different markets in town to buy some veggies or other stuff for the price he liked. What he saved this way was probably one order of magnitude lower than his expenses on petrol alone, but he liked it and this is the whole justification needed.

+1. This is the same justification, I have. I would never go to orchard road in mrt to just make a payment for SP services. But if its riding my bike, I am all for it. I dont get enough reasons to ride on the expressways since now my office is like just 5 kms from my house But even then, I would still want to make the trip worthwhile by also doing something else, in this case I do it when I visit my doctor at Mt Elizabeth every 2-3 months. Nothing major, I have a problem with obstruction in my bladder neck. Makes me go for peeing frequently than other people. Used to hate it while having beer. But now, its much better after I started seeing the doctor.

[zzm9980]

..3x OCBC points on Overseas spend is OK too, and I believe they used to give you a free scotch once a day at Quaich Bar. If you like scotch, that will pay for itself pretty quickly here in Singapore. (I'm hazy on the details, but I know this was discussed in a thread on Flyertalk)

Quaich = @ RWS / Sentosa ?

http://www.sgwhisky.com/blog/haunts/180 ... reans.html

Havelock Rd.

[ecureilx]

http://www.sgwhisky.com/blog/haunts/180 ... reans.html

Havelock Rd.

I dunno how they are related to the mob in RWS

CJ's Bar at Quaich, RWS !

No worries .. just wondered aloud. . only ..