Cashback Cards - ANZ Optimum

One of the first steps in my journey to try and increase my savings is to shift my spending over from miles cards to cashback cards. Having miles to get free holidays is nice, and I am sure there are lots of people who really maximise their miles. However, at my level of spending, and not too frequent travel, I feel like after 3 years of work, I don't feel any tangible returns from the miles card. So, I would rather collect an upfront rebate through cashback/bonus interest. (Also, based on most calculations, miles cards aren't really worth more money)

To this end, I recently got my ANZ Optimum Card which is considered one of the best cashback cards by moneysmart.sg.

The card has got a nice promotion which I am aiming to cash out on, to charge $588 to the card by end Feb 2017 to receive $168 in cashback. So, I probably will be pre-buying some home appliances in preparation for the new house to get this bonus!

Besides this, it comes with 5% cashback on certain transactions based on a selected category. I like eating, so I picked the F&B category. I was thinking hard between retail and F&B but I figured I am more likely to eat than to shop (it is easier to save money by shopping less than eating less too). So now that I have this, my next card should be a retail based cashback card.

So currently my credit card plan is split between:

UOB One card: Spend at least $500 on 3 transactions each month

Stanchart Singpost Card: Spend at least $600 - majority on online transactions and uber

ANZ Optimum Card: F&B spending

Will be looking out for more promotions to try and get a quick boost.