Review: UOB Reserve Card – The MileLion
The UOB Reserve Card is an invitation-only credit product requiring a minimum annual income of S$500,000. According to a review by The MileLion, the card offers high earn rates of 1.6 to 2.4 miles per dollar and a heavy metal design, though it faces stiff competition from other elite cards in Singapore’s luxury segment.
UOB targets the “S$500K segment,” placing the Reserve Card in direct competition with the AMEX Centurion, Citi ULTIMA, DBS Insignia, and HSBC Prive. While the card offers some of the best earn rates in this bracket, The MileLion describes it as “underpowered” for the elite segment it occupies.
What are the costs and requirements for the UOB Reserve Card?
Applicants must earn at least S$500,000 annually to qualify. UOB may offer flexibility for those with a UOB Privilege Reserve relationship (minimum S$2M AUM) or UOB Private Banking relationship (minimum S$5M AUM), according to the review.
The principal cardholder pays an annual fee of S$3,924. The MileLion notes there is no annual fee waiver for this product. This fee makes the Reserve the fourth most expensive card in the S$500K segment, trailing the AMEX Centurion, Citi ULTIMA, and HSBC Prive.
Cardholders receive 50,000 UNI$ (100,000 miles) each year the fee is paid. Private Banking customers with at least S$5M AUM receive an additional 150,000 miles in their joining year, totaling 250,000 miles.
How do the earn rates and reward structures compare?
The card earns 1.6 miles per dollar (mpd) on local spend and 2.4 mpd on foreign currency spend. Local luxury spending at 96 specific merchants earns 2 mpd, capped at S$20,000 per calendar month, per The MileLion.
UOB uses a punitive rounding policy. Transactions are rounded down to the nearest S$5 before points are calculated. This means a S$9.99 purchase earns the same as a S$5 purchase, resulting in fewer points on small transactions compared to the Citi ULTIMA or DBS Insignia.
UNI$ points expire after two years. UOB waives the usual S$27 conversion fee for Reserve cardholders when transferring points to partners like KrisFlyer and Asia Miles.
What are the primary benefits and limitations?
Principal cardholders receive unlimited Priority Pass visits plus one guest. Supplementary cardholders get unlimited visits without the guest allowance. The card also provides four to six complimentary limo transfers per year, depending on the user’s banking relationship.
The MileLion characterizes the complimentary travel insurance as “bare bones.” While it provides US$1 million in accidental death coverage, the review states there is no coverage for overseas medical expenses, emergency evacuation, or trip cancellation.
The physical card is made of Alpaca Silver, an alloy of copper, nickel, and zinc. Because the metal construction doesn’t support contactless payments, UOB issues a secondary plastic card with a different number and CVV.
How does the UOB Reserve Diamond Card differ?
UOB upgrades users to the Reserve Diamond Card if they spend S$1 million annually on the card or S$10 million via the UOB Payment Facility. This version features an embedded diamond and removes the two-year expiration on UNI$ points.
Diamond cardholders receive a complimentary hotel night once per quarter when booking two consecutive nights through UOB Travel Planners. The MileLion notes this benefit is capped at S$400 per night and is more restrictive than the Citi ULTIMA’s second-night-free perk.
Additional Diamond perks include a complimentary meal for two once per quarter and a yearly “birthday treat” facilitated by the UOB Reserve Concierge.
What is the outlook for high-net-worth cardholders?
Cardholders spending at least S$250,000 annually receive 100,000 bonus miles upon renewal, which, combined with the annual fee miles, could offset a significant portion of the S$3,924 cost.
Given the competition, some users may find the Reserve’s benefits insufficient compared to the AMEX Centurion, despite the latter’s higher annual fee. Future cardholders may choose the Reserve based on the “intangible benefits” of service and the prestige of the diamond-studded physical card.
Frequently Asked Questions
What is the minimum income required for the UOB Reserve Card?
Applicants must earn at least S$500,000 per year, though flexibility exists for those with UOB Privilege Reserve or Private Banking relationships.
Does the UOB Reserve Card have an annual fee waiver?
No. According to the review, there is no annual fee waiver for any cardholder.
How do you qualify for the UOB Reserve Diamond Card?
Users must spend at least S$1 million a year on the UOB Reserve Card or S$10 million a year through the UOB Payment Facility.
Do you prioritize reward earn rates or luxury concierge perks when choosing a high-tier credit card?