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Back in the day, the coolest thing to do when you turn 21 in Singapore is to catch an R21-rated movie without flashing a fake ID.

Times are different now. Turning 21 lets you apply for the coolest credit card in town – the UOB YOLO. For today’s millennial, it’s the new key to freedom, offering savings on your nights out, travels, entertainment and nearly anything you’d want to blow your first salary on. The UOB YOLO is designed for the young urbanite who values high cashback returns on weekend dining and entertainment, and not forgetting the hassle-free online travel deals for those weekend getaways you will never get enough of.

So you might have noticed the cool 16-digit card number design that's flushed to the right of the card. But besides that, how cool is this card, really? We know you won’t have time for the brochure-talk so let our in-house card expert Mack make a quick and unbiased breakdown of the pros and cons for you:

Pros

  • Introductory 8% cash rebate on entertainment and dining during weekends (from now to 1st October). After this promotional period, cash rebate will be at 6%.
  • 3% cash rebate on dining and entertainment during weekdays.
  • 3% cash rebate on online travel including: Agoda, AirAsia, Airbnb, Cathay Pacific, Expedia, hotels.com, Jetstar, Flyscoot, Singaporeair, Tigerair and UOBtravel.
  • 3% cashback on online fashion transactions.
  • Pay with your mobile phone with UOB Mighty and earn 3% cashback on all mobile payment transactions.
  • Great variety of UOB YOLO Privileges on dining, entertainment, online shopping and travel.
  • These include 1 for 1 deals, upgrades and priority queues at clubs in town
  • Free supplementary card

Cons

  • Weekend is defined as 00:00 Saturday until 23:59 Sunday, excluding Friday night.
  • Minimum spend of $600 per month is required to qualify for extra cashback. Cash rebate will be 0.3% if spending is under $600,
  • Monthly cashback is capped at $60 per month, your total maximum savings per year is $720
  • First year annual fee is waived, but is $192.60 for subsequent membership renewals if you don’t meet the annual spending requirement.
  • 3% travel cashback is only for a select amount of online partners. 

Is this card the perfect fit for you? GoBear it and make an unbiased comparison before signing up. But if this is your first time getting a credit card, we advise you read up these 10 tips to avoid the pitfalls of credit card debt.