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S$350,000 fixed deposit with no interest get 5.4 miles for every S$1 spent. * Bonus KrisFlyer miles earned is capped at 5% of the Monthly Average Balance in your KrisFlyer UOB account.
Any opinions?
Any opinions?
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I think it's not wise to have $350K sitting in an account not doing anything.
Money not invested will depreciate.... -
UOB's Krisflyer Debit Card is the dumbest proposition I have ever heard of...Comment
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Well they could change the word deposit to fee, but that's about the only way I could think of to make it dumber...Originally posted by concept|infinit View Post
I read it and wondered if I had misread it. Yeah, I'll deposit a fortune and get back only KF miles which I then can't use during peak seasons or without booking months in advance, or like, I could just use a little bit of that money and buy the ticket when I want to fly.Comment
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What about in the month where you have big expenditure and you got 350k lying around, maintain the 350k balance for that month, carry out the big purchase, then wait a month before withdrawing the cash.Originally posted by 9V-JKL View Post
Is there a cap on the number of miles earned?Comment
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the T&Cs here. Not wise to dump so much money for even a month and not earn something
http://www.uob.com.sg/assets/pdfs/pe...yerUOB-tnc.pdfComment
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For many folk who have $350K in cash, that sum of money would most likely be invested in some form of financial instrument with some level of liquidity. When the $350K is needed, it would come from that instrument.Originally posted by reddevil0728 View Post
In this case, the $350K is just sitting there..... doing nothing but earning miles.... Not so sure that's a good idea.
That's just my opinion on how to manage money, I would most like to learn from you how you would manage yours.
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With 350k cash why on earth will I need to have a debit card or not be able to apply for a decent credit card with miles earning it really a hilarious. the interest earnings on 350k investment itself on any other product would probably earn me enough to fly somewhere decent or more than KF miles earned and I wouldn't need to worry about waitlisting or 3 yrs expiry and if I choose not to cash out I could compund the interest and earn more $$$ (there is no bank that lets you deposit KF miles and earn interest)
MileLion has a few good articles on this issue for those of you who might have missed out on:
http://milelion.com/2017/04/25/finan...ns-on-a-crash/
http://milelion.com/2017/04/24/an-op...r-uob-account/
http://milelion.com/2017/04/19/the-k...ad-on-arrival/
p.s. shouldn't this be in another thread?Comment
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