UOB EVOL Card Review 2024

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Last updated on 2024-10-04

1. UOB EVOL Card 10% Cash Back

2. How to Earn 10% Cash Back?

3. Other UOB EVOL Card Benefits and Promotions

4. UOB EVOL Card Review

UOB EVOL Card 10% Cash Back

UOB EVOL Card earns an attractive 10% cashback on mobile contactless and online spend, overseas in-store FX spend and 0.3% cashback on all other spend. One can also earn 10% cashback on public transport via SimplyGo which is considered as a mobile contactless spend. There is a cashback cap of $30 on each of the three categories with overall cashback capped at $80 per calendar month.

How to Earn 10% Cash Back?

It is impossible to earn the headline 10% cash back even if you target your expenses only on the 10% cashback categories. It is due to the fact that the cash back cap of $30 for mobile contactless and online spend and $20 cap for overseas in-store FX spend are low and one can easily hit the maximum 10% cashback cap by spending $300 or $200 for mobile contactless and online spend and overseas spend. The cardholder will still be required to spend at least $300 on all other spend which awards only 0.3% cashback to meet the minimum spend of $800. This adds up to a more respectable cashback rate that is around 6.36% instead of the headline 10%.

Other UOV EVOL Card Benefits and Promotions

There are no annual fees for the UOB EVOL Card as long as one make three purchases per month. Cardholders also enjoy other benefits associated with UOB Credit Cards which include discounts for dining, shopping and even travel. An ongoing uob credit cards signup promotion also award new cardholders with a $350 cash credit with minimum spend of $1,000 per month for 2 consecutive months from card approval date.

UOB EVOL Card Review

The 6.36% cashback puts it in the same category with the DBS Live Fresh Card (6% cashback for online spend with $50 cap) and OCBC Frank Credit Card (around 6% cashback after taking into account of $800 minimum spend). All three cards appeal to the same target market segment and have made it more difficult to earn cashback in recent years. Users might find more joy in a general cashback card like the UOB One Card.