This morning, a colleague of mine who’s as crazy about miles as me said, “Hey Daniel, want to buy IKEA gift card, it’s going at 6mpd!” Me: Isn’t it going at 12mpd? He checked his SMS, I checked OCBC’s website and my Shi Fu’s blog; It’s truly 12 mpd / 30X OCBC$ !!!
The offer: From 1st to 11th March 2018, OCBC Titanium Rewards CC is offering 12 miles for every $1 spent, up to $1000 in store at IKEA (excludes online).
Photo credit: Ikea
Experts value miles differently. I value mine at roughly 4 cents a mile (I will address this in another blog post). What does this promotion mean to me? At 12 mpd, every $1 spent: 12 x 4c = 48 cents. This represents a whopping 48% rebate in miles! Even conservatives who value a mile at 2c would find 24% rebate to be a steal. No cash back credit card even comes close!
I’m currently at the stage of life where I’ll soon be moving out of my parent’s nest to find my own nest. The only issue is that I’ll only be needing new furniture and home equipment only months from now.
If you’re in a similar situation as me, the Aussie saying goes, “No worries mate”! You can always buy a gift card and use it later, which is what I’m probably going to do.
In some countries, the gift card does not expire but word is that it lasts for 2 years in Singapore. I’ll check that out and update this blog in due time.
Update (3/3/18 , 7pm) – Counter staff confirms that the card lasts 2 years.
Unfortunately, dining at Ikea’s restaurant for their famous meatballs and chicken wings doesn’t qualify for the promotion, but there’s nothing stopping you from buying a physical gift card at the store and then heading down to the restaurant to dine. Problem solved!
Here are two important points to note. I’ve done the homework so you don’t have to, but it’s always good to read the T&C’s yourself. Click here for more.
- Bonus 30X Rewards points is up to $1,000 only.
Applicable to in store transactions only, excluding online transactions.
Apparently, paying via mobile payment (Apple/Samsung pay) also qualifies you for 30X, However, I’m going to stick to using the physical OCBC Titanium card, just to be on the safe side.
Update (4/3/18 , 9am) – Just checked my OCBC TR statement and the 30,000 OCBC$ are in. It took only one day for it to be credited!
I would like to write more often but I’m quite exhausted from my day job. However, in sticking with SG GOOD LIFE tradition, this is definitely a deal worth writing/posting about!