Will I switch to Trust/YouTrip after this Instarem Amaze Nerf?

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Effective 1 Aug 2023, Amaze card-linked transactions in foreign currency will earn 0.5 InstaPoints (0.5% rebate) per S$1 spend
- No change to InstaPoints earned on amaze transactions linked to amaze wallet (1% rebate)
- E.g. Spending SGD 100 in foreign currency will earn 50 InstaPoints effective 1 Aug 2023, instead of 100 InstaPoints previously
- Max points per transaction = 500, capped at S$1000 per transaction
- 50% Points nerf, will I still use amaze?
To be clear, will NOT affect local spend on amaze
- Citi Rewards + Amaze to get 10x points as single card strategy
- No points awarded for local spend anyway
Utilising Instapoints
- 12 months expiry for points earned after 1 Oct 2022
- Min redemption is 2000 points for $20 credit
- To earn 2000 points = 2000/0.5 = S$4000 spend in foreign currency
- Can you spend S$4000 worth of foreign currency in a year?
Main feature of amaze
- Convert to online, so that Citi Rewards can earn 10x points
- Reduce markup fees from 3.5% with banks to 2.5% with amaze
- 3.47 MYR after 2.5% markup = 3.38
Comparing to YouTrip & Trust
- YouTrip 0.3% Markup at 3.46, net benefit = -0.3%
- Trust 0.3% Markup at 3.46, net benefit = -0.3 + 0.22 = -0.08% after link points
- Amaze 2.5% Markup at 3.38, net benefit = -2.5 + 0.5 = -2%
- But remember to factor in 4 mpd from Credit cards, CPM = 1.25, 5% Cashback
- Amaze after credit card benefit = +3% positive
- Amaze wallet 0.3% Markup at 3.46, net benefit = -0.3 + 1 = +0.7% positive
Rank
1. Amaze card-link +3%
2. Amaze wallet +0.7%
3. Trust card -0.08%
4. YouTrip -0.3%
Don’t argue, use what you like
#Sponsoredby #Webull

[@HoneyMoneySG]

Sponsor: 🐂 Webull Singapore hmsg.link/sgwebull
💴 Instarem Amaze Code: NhkWBH hmsg.link/amaze
☯ YouTrip hmsg.link/youtrip
🙏 Trust Bank Code: HUQPC614 www.trustbank.sg
📙 Advanced Credit Card Mastery Course: hmsg.link/accm
☕ Buy from my Ko-fi shop: hmsg.link/shop
🔭 Telegram Group: t.me/HoneyMoneySG
📷 Instagram @HoneyMoneySG instagram.com/honeymoneysg
🎵 TikTok www.tiktok.com/@honeymoneysg
📧 Email (Business only): [e-mail]

[@nicholaswee3573]

what about revolut?

[@auguestra]

i notice that the fx spread for amaze + cc linkage differs from currency. For example yen is the one I am using most and most recent transaction i did the spot rate was 104~ and amaze charges me 101~, tts a easy 2.8%~. For maybank card, that card need a minimum spend of $800 to get that 8%, I definitely cant hit with that. So this nerf definitely hit me alot because i'm not a miles follower so the 4 miles per dollar doesn't fit into my formula. I am using amaze + citibank rewards and now the total cashback becomes (2.27% + 0.5%) = 2.77%, that's provided if I can spend $4000 worth to get the 2000 insta points after the Aug 1st nerf. if not tts just 2.27%. I would now rather use youtrip to get the spot rate 104 really. For local spend then there is no difference I will continue using amaze to covert non-online to online spend that is.

[@HoneyMoneySG]

I appreciate your thoughts, but have you considered amaze wallet though?

[@auguestra]

@@HoneyMoneySG I do. Considering using that as they might do another 4x insta points promo in the future whereas youtrip got no such promo. But thanks for all the videos you published. They helped me to consider the options that I have. Thanks!

[@xtremescy]

Hi, may I kindly inquire (as of 18 Sep 2023) - are there any incentives/benefits/points/others to use Amaze link with CC in Singapore (local purchase)?

[@HoneyMoneySG]

Single card strategy with Citi Rewards 10x points

[@xtremescy]

@@HoneyMoneySG That is with regards to Citi bank credit I suppose; am inquiring to Amaze card's benefits for local purchase. Thanks

[@HoneyMoneySG]

Then no

[@lishr4536]

why is no 1 not Maybank FNF + Amaze then?

[@zhengjunliang6510]

$25 cap per category tho

[@evilkie]

Aww shit, here we go again~ xD

[@ngsy8193]

Lol. U like to attack pple

[@dicksonpixel9165]

Honestly I’m happy people are not in the miles camp. It’s been very crowded in this field and we will still need people paying in cash/debit card/cash back card to fund the miles program. 😂