PSA - Free staycation for $400 spend plus $50 credit?!

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Fancy a free staycation at M Social Hotel and a $50 credit? 
If you signed up for the FRANK credit card, you'll get the $50 rebate and receive a free staycation with $400 minimum spend.
The last I had a FRANK card was years ago. Back then (think 2012), FRANK account was suitable for undergraduates with their attractive interest rates and customised credit card designs. Their FRANK card was awesome as I recalled a 5% online rebates with low minimum spend.
As usual, good things don't last. When FRANK account offered pathetic interests compared to other salary crediting accounts and their FRANK credit card became unattractive due to it's minimum $400 offline spend to start clocking rebates, I cancelled it immediately.
Until recently when I spotted this:

The credit card still sucks but by spending $400 for a free staycation? Count me in! Furthermore, I received a $50 credit by signing via myinfo which is effectively a 12.5% rebate!

Take note that the free stay is not the loft…

Thoughts on HDB housing loan and 4th year topping up CPF SA

Each day passing is one step towards old age.

Unknowingly, we are in mid 2019.

Top-up to CPF SA

Anyway, with my bonuses in, I decided to park $7k into my CPF SA for tax relief purposes.

I've always been saying that I should do the $7k voluntary top-up at start of the year to gain extra interest, but have never done so hahaha

Got my hubby to do the same as well...not without some nagging and me taking control of the transfer ๐Ÿคฆ‍♀️

Hubby wasn't super keen as he preferred to keep the cash to pay off our housing loan ASAP.

His thoughts on our housing loan

  • For context, our balance to pay is at $500k+ ๐Ÿ™ƒWe are paying equal amounts for the home.
  • Wipe out our CPF, leaving $20k in OA
  • Pay $100k cash upfront (or even more if we can afford) - he feels our investments does not beat 2.6% interest charged by HDB for loan. This is true given majority of our money in savings accounts, SSBs, FDs which gives at best 2% interest?
  • For the remaining amount, to get a 25 years loan
  • Try to pay our loan with full cash each month and not touch our CPF ๐Ÿ˜ฒ
  • Pay off housing loan ASAP using bonuses to reduce loan ๐Ÿ’ธ
And finally, to sell off our HDB after 5 years for profit which I object since I want to stay in there forever ๐Ÿ˜›That's another topic for next time!

What are your thoughts to this? For those who has been there done that, how did you pay off your loan?

Comments

  1. Hey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at housing loan for more information.

    ReplyDelete

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