Monday, November 2, 2009

Free Money - xTraSaver Cash Rebates

Requirement: Daily average balance of $6000/month
Free Money: up to $300/month

Do you know that with average balance of $6000/month, you can open a xTraSaver account (with interest) from Standard Chartered bank and you can earn acsh rebate of:
1) 2% for Debit Card purchase
2) 0.5% for NETS transaction

For normal credit card points, it usually converts averagely about 0.3% - 0.5% of the amount you spend. E.g if you spend $5000 you will get some vouchers equivalent to $15 to $25. So if you use xTraSaver debit card, you'll get $100 cash rebate!!
E.g. DBS Rewards that gives you 1pt for every $5 spend.
So to get a $20 Cold Storage voucher, you will need 1000pts; which is equivalent to $5,000 purchase.
This is equivalent to 0.4% (20/5000) of the amount spend.

Do you usually go to AXS machine to pay your credit card bills? Well, you can earn extra 0.5% of whatever points/rewards that you get. E.g. if you spend $5000 on an LV bag using DBS Card (because DBS got special promo if not just use your xTraSaver debit card for the cash rebate), you will get ($5 = 1 point) 1000pts. When you pay your bill using xTraSaver of $5000 using NETS, you will earn additoinal $25 cash.

As such, you will get both the $20 Cold Storage voucher + $25 cash rebate.
But if you pay using your xTraSaver you will get $100 cash rebate :)

Note: There's a cap of $300/month caps for all rebates and $50/month caps for NETS transaction.
Click here to find out more.

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