LifeStyle Updates : 2025 Edition: Best Credit Cards for Education, Enrichment and Childcare

Source:

https://milelion.com/2025/02/22/best-credit-card-education-enrichment-childcare/

Grok 3:

Here’s a summary of the article on earning rewards for education-related expenses, along with insights into available options and workarounds as of February 22, 2025:

Summary

Education expenses—such as childcare, enrichment classes, school fees, tuition, and university costs—are a significant financial burden. However, most banks have progressively excluded these transactions from earning credit card rewards, with major issuers like DBS, Citibank, UOB, Standard Chartered, HSBC, and American Express adding education to their exclusion lists between 2017 and 2023. This reluctance stems from education transactions typically coding under Merchant Category Codes (MCCs) like 8211, 8220, 8241, 8244, 8249, and 8299, which have lower processing fees and thus lower profitability for banks.

Despite this, a few credit and debit cards still offer rewards on education spending, primarily from Maybank, select UOB cards, and certain American Express options. Additionally, "education-adjacent" expenses (e.g., childcare, music, or sports enrichment) often fall under different MCCs, making them eligible for rewards with the right cards. Workarounds like bill payment services (e.g., CardUp) and Buy Now, Pay Later (BNPL) platforms (e.g., Atome) also provide ways to earn miles by altering the MCC or enabling rewards where direct payments don’t.

Credit Cards That Earn Rewards on Education

The following cards still award miles or points for education transactions (MCCs 8211–8299):

• Maybank Visa Infinite: 1.2 miles per dollar (mpd) locally, 3.2 mpd foreign currency (FCY).


• Chocolate Visa Platinum Debit Card: 2 mpd on all spend (including education), capped at S$1,000/month, then0.4 mpd; no FCY fees.


• UOB Reserve Card: 1.6 mpd locally, 2.4 mpd FCY (invitation-only).


• UOB Visa Infinite Metal Card: 1.4 mpd locally, 2.4 mpd FCY (S$120,000 income requirement).

Opinion:

It's very hard to earn rewards on tuition fees indeed.

Personally, my kid attends chinese lessons from a tuition center that accepts only NETs payment 😅.

Businesses simply don't find it worthwhile to allow such rewards.

Investing Updates : Some Thoughts Regarding Mari Invest Income Solution and its Underlying Income Unit Trust.

Source:

https://investmentmoats.com/money/mari-invest-income-solution/

Apple Intelligence:

• MariBank Ownership: Owned by Sea Group, a Singapore-based technology conglomerate.

• MariBank Services: Offers personal and business banking services through its mobile application.

• Mari Invest Income: A new investment product released by MariBank, currently available by invitation only.

• Investment Goal: Mari Invest Income aims to provide regular payouts.

• Investment Risk: Considered a higher risk investment compared to Mari Invest SavePlus.

• Fund Performance: Depends on the performance of the PIMCO GIS Income Fund, an actively managed fund.

• Ongoing Fee: 1.05% p.a., including management fee and trailer fees.

• Fund Performance: Historically good return (4.09% p.a. since inception) and a consistent monthly payout (nearly 6.49% p.a. based on historical distribution as of 31 Dec 2024).

• Payout Characteristics: Not guaranteed and may differ from past performance, despite consistent and increasing per unit payout history.

• Fund Composition: PIMCO GIS holds a significant portion (36%) in Federal National Mortgage Association (FNMA) mortgage-backed securities.

• FNMA MBS Characteristics: Offer high yields, benefit from rising interest rates, implicitly backed by the US government, sensitive to interest rate changes, and may not appreciate as much when interest rates fall.

• PIMCO GIS Fund Classes: Various classes exist, including hedged and unhedged options in different currencies (AUD, EUR, GBP, HKD, SGD, USD).

• Fund Class Fees: Different fund classes have varying ongoing fees: ADMIN (1.05% p.a.), E (1.45% p.a.), HINST (0.72% p.a.), INST (0.55% p.a.), INVST (0.90% p.a.).

• Fee Distribution: Fees paid for the PIMCO GIS Income fund are distributed among PIMCO, fund distributors (e.g., Maribank), and advisory firms.

• Investor Considerations: Investors should focus on understanding the fees, the underlying investment (PIMCO GIS Income fund), the investment risk, its role in their overall financial plan, and the associated risks.

Investing Updates : ETF Giants Reshuffle: VOO Claims Top Spot, Is IVV Poised to Overtake SPY as the No. 2 ETF?

Source:

https://www.moomoo.com/community/feed/etf-giants-reshuffle-voo-claims-top-spot-is-ivv-poised-114035668681110

Apple Intelligence:

• Largest ETF: Vanguard S&P 500 ETF (VOO) surpassed SPDR S&P 500 ETF (SPY) as the world’s largest ETF.
• Reason for Success: VOO’s low expense ratio (0.03%) compared to SPY (0.09%) attracted more investors.
• Growth Trend: VOO’s AUM surpassed SPY’s in a shorter time and experienced higher annual inflows.

• Vanguard’s ETF Success: Vanguard’s unique ETF structure and ecosystem have attracted significant investment, with VOO receiving $154 billion since 2022.
• Market Dominance: VOO, while not dominating trading volume like SPY, thrives on long-term capital and is favored by retail investors.
• Competition and Growth: BlackRock’s IVV, with its low expense ratio and growing AUM, is poised to surpass SPY as the second-largest ETF.

• Expense Ratio Impact: A 0.06% difference in expense ratio can result in nearly $15,000 more after 30 years, highlighting the importance of expense ratios for long-term investors.
• Investment Inflows: IVV attracted significantly more investment inflows than SPY in 2024, suggesting a potential shift in investor preference.
• Performance Comparison: VOO and IVV, with lower expense ratios, have outperformed SPY, leading to their increasing popularity.

• Popular ETFs: VTI, QQQ, VOO, and IVV are popular ETFs.
• VTI Characteristics: Offers exposure to the entire U.S. stock market with a low expense ratio.
• QQQ Characteristics: Tracks the Nasdaq-100 Index, heavily weighted towards tech companies, with a higher expense ratio.

LifeStyle Updates : Geolah disrupts Singapore’s ride-hailing scene with cut-rate prices and no commission fees

Source:

https://theindependent.sg/geolah-disrupts-singapores-ride-hailing-scene-with-cut-rate-prices-and-no-commission-fees/

Apple Intelligence:

• Geolah’s Business Model: Eliminates commission fees for drivers, resulting in lower fares for customers and higher earnings for drivers.

• Pricing Strategy: Calculates fares based on service type, distance, and driver availability, ensuring price consistency regardless of demand.

• Vehicle Options: Offers a diverse range of vehicles, including AnyGeo, GeoCar XL, GeoCar VIP, GeoAirport, and GeoAirport XL, catering to different needs.

• Ride Options for Children: GeoKids (4 seats) and GeoKids XL (6 seats) for children aged 1-1.35 meters.

• Ride Options for Families: GeoTaxi (4 seats), GeoLimo (up to 8 hours), and GeoShuttle (9 seats).

• Pet-Friendly Options: GeoPets (4 seats) and GeoPets XL (larger option) for pets.

Investing Updates : Tiger Brokers adopts DeepSeek model as Chinese brokerages, funds rush to embrace AI

Source:

https://finance.yahoo.com/news/tiger-brokers-adopts-deepseek-model-070602587.html

Apple Intelligence:

• DeepSeek Integration: Tiger Brokers integrated DeepSeek’s model into its AI-powered chatbot, TigerGPT.

• DeepSeek Adoption: At least 20 Chinese brokers and fund managers have started integrating DeepSeek models into their businesses.

• DeepSeek’s Impact: DeepSeek’s integration with Tiger Brokers will enable customers to analyze valuations, make trading decisions, and gain insights into investments.

• AI Adoption Impact: Rapid AI adoption is expected to boost financial IT spending by 24% in five years, benefiting vendors like Hundsun, Northking, and iSoftStone.

• DeepSeek R1 Influence: The launch of DeepSeek R1 is anticipated to accelerate GenAI adoption in the financial industry in 2025, particularly in data-heavy and labor-intensive areas.

• TigerGPT Enhancement: TigerGPT’s investment assistant has been upgraded with DeepSeek integration, enhancing logical reasoning and market analysis capabilities.

• AI Application in Finance: AI helps financial companies utilize vast amounts of data for better management, marketing, and investing.

• DeepSeek Model Adoption: Financial institutions are actively discussing the adoption of DeepSeek’s models for internal use.

• Data Utilization: AI enables financial companies to make better use of previously unused data.

Investing Updates: China's Terrific Ten Are Beating Mag 7. Will the Current Momentum Carry On?

Source:

https://www.moomoo.com/community/feed/114019750576134?global_content=%7B%22promote_content%22%3A%22mm%3Afeed%3A114019750576134%22%2C%22invite%22%3A103096561%7D&is_recommendation=0&is_recommend_pos=1&futusource=news_headline_list

Apple Intelligence:

• Chinese Tech Stock Performance: The Hang Seng TECH Index surged by 23.08% since the start of the year, driven by the performance of major Chinese tech firms known as the ‘Terrific Ten’.

• Government Support: Chinese President Xi Jinping met with leading entrepreneurs, including Jack Ma, to boost entrepreneurial spirit and potentially fuel a long-term rally in Chinese tech stocks.

• Market Sentiment: Despite a slight drop in Hong Kong tech stocks on Monday, analysts view the meeting with President Xi as a positive sign for the sector.

• Government Support for Tech Industry: The meeting highlights the government’s strong backing for the tech industry as a key driver of economic growth.

• Positive Market Sentiment: The meeting is seen as a positive signal for the private sector, potentially leading to further AI-driven market growth and improved sentiment.

• Upcoming Drivers for Chinese Stock Market: Key drivers include the upcoming earnings season and the Two Sessions scheduled for March.

• Tech Giants’ Earnings Outlook: China’s top eight tech giants are experiencing a positive outlook for 2025, with earnings forecasts increasing by over 7% on average since mid-2024.

• Profit Growth Drivers: Industry leaders like Xiaomi, JD.com, and Meituan have raised their profit expectations, driven by factors such as Xiaomi’s robust EV sector and economic stimulus.

• Analyst Forecast Revisions: The initiation of fourth-quarter earnings could lead to upward revisions in analyst forecasts to align with recent price increases.

• Two Sessions Impact: China’s annual parliamentary meeting, the Two Sessions, starting on March 5, 2025, is expected to significantly influence the Chinese stock market due to discussions on policy goals and economic stimuli.

• Analyst Predictions: Deutsche Bank analyst Peter Milliken predicts a gradual elimination of the “valuation discount” on Chinese stocks in 2025, urging investors to reevaluate China’s competitiveness.

• DeepSeek’s Influence: Invesco’s Ma Lei highlights DeepSeek’s competitive AI performance at lower costs, suggesting it could catalyze a reevaluation of the Chinese stock market and benefit listed companies.

• Positive Market Sentiment: HSBC views DeepSeek positively, citing technological advancements and cost benefits.

• Growth Sectors: DeepSeek is expected to boost investment sentiment in Chinese growth sectors, particularly AI applications, computational power, and humanoid robots.

• Market Outlook: AI-related sectors are anticipated to be a highlight in the Chinese stock market during the first quarter of 2025.

Opinion:

Nice chart of Mag 7 vs Terrific 10.

Innovation happens when there's competition. 

Just hope there's more peace between the countries 😅

Rewards Updates: luckin coffee Singapore Has 1-for-1 Coffee Promotion Until 20 Feb 2025

Source:

https://singpromos.com/dining-restaurants-food/luckin-coffee-singapore-has-1-for-1-coffee-promotion-until-20-feb-2025-287471/

Apple Intelligence:

• Promotion Period: February 17-20.

• Promotion Details: Buy one get one free for eligible drinks.

• Redemption Method: Order through the Luckin Coffee app and select a free drink from the eligible categories.

Rewards Updates : YouTrip now lets you lock in Thai Baht, with Malaysian Ringgit wallet “coming soon”

Source:

https://www.hardwarezone.com.sg/tech-news-youtrip-lock-in-currency-thai-baht-malaysian-ringgit-travel-wallet-digital-payment

Apple Intelligence:

• New Currency Support: YouTrip now supports storing Thai Baht (THB) in addition to 11 other currencies.

• Currency Exchange Rate: Users can “lock in” THB during favorable exchange rates to save money.

• Future Currency Addition: YouTrip plans to add a Malaysian Ringgit (MYR) wallet, bringing the total to 12 multi-currency wallets.

• Supported Currencies: 12 currencies (including THB and upcoming MYR) allow for locking in exchange rates.

• Travel Wednesdays: YouTrip is bringing back Travel Wednesdays in 2025 with upsized travel deals every Wednesday until April 2, 2025.

• Travel Perks: Users can access perks like cashback and vouchers on platforms like Trip.com, Klook, Agoda, Booking.com, and Expedia through the YouTrip app.

Opinion:

This is a good development.

I think there needs to be app or feature that alerts you when it's time to exchange? 😅 

Multi-currency e-wallets need to innovate further since they do not gain any interest unlike in banks.

Investing Updates : Alibaba, Grab, Walmart Earnings; Fed Minutes; Manufacturing Update: What to Watch This Week

Source:

https://ttm.financial/news/2512515499?lang=en_US&edition=fundamental

Apple Intelligence:

• Market Closure: U.S. markets will be closed on Monday for Presidents Day.

• Earnings Reports: Arista Networks, Devon Energy, Medtronic, and Occidental Petroleum report on Tuesday, followed by Analog Devices and Garmin on Wednesday. Alibaba Group Holding, Block, Booking Holdings, Newmont, and Walmart will be Thursday’s highlights.

• Economic Indicators: Minutes from the Federal Open Market Committee’s late January meeting will be published on Wednesday afternoon. S&P Global will release both its Manufacturing and Services Purchasing Managers’ Indexes for February on Friday. Housing data to watch this week will include the National Association of Home Builders’ Housing Market Index for February on Tuesday, the Census Bureau’s housing starts for January on Wednesday, and the National Association of Realtors’ existing-home sales for January on Friday.

• Market Closure: Equity and fixed-income markets are closed on Presidents Day.

• Earnings Reports: Companies like Arista, Cadence Design Systems, Celanese, and others will release quarterly results on Tuesday.

• Economic Indicators: The National Association of Home Builders releases its Housing Market Index for February on Tuesday, and the Census Bureau reports new residential construction data for January on Wednesday.

• Earnings Reports: Akamai Technologies, Alibaba, Baxter International, Block, Booking, Builders FirstSource, CenterPoint Energy, Cheniere Energy, Copart, Epam Systems, Hasbro, Insulet, LKQ, Live Nation, Newmont, Nu Holdings, Pool Corp., Quanta Services, Southern Co., Targa Resources, and Walmart hold conference calls to discuss quarterly results.

• Economic Indicators: S&P Global releases Manufacturing and Services Purchasing Managers’ Indexes for February.

• Housing Market: The National Association of Realtors reports existing-home sales for January.

Opinion:

Should be a normal sideways week for markets.

Alibaba, Walmart and Grab will be grabbing attention.

Grok 3 chatbot would be an interesting AI development.

LifeStyle Updates : Citi Rewards Credit Card + Amaze Combo

Image Source:

https://milelion.com/2024/01/25/the-blip-amaze-x-citi-rewards-bonus-points-now-posting/

DeepSeek:

The Citi Rewards + Amaze combo is a popular strategy among credit card users in Singapore to maximize rewards and cashback on their spending. This combination leverages the strengths of two products: the Citi Rewards Credit Card and the Amaze Card. Here's a detailed breakdown of how this combo works and why it's beneficial:

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1. Citi Rewards Credit Card

The Citi Rewards Credit Card is known for its focus on earning rewards points, particularly for online and contactless spending. Key features include:

- 10X Rewards Points: Earn 10 Citi Miles per SGD 1 spent on online shopping, contactless payments, and selected categories.

- 4 Miles per SGD 1: When converted, 10X rewards points typically translate to 4 miles per SGD 1 spent.

- Cap on Rewards: The 10X rewards are capped at SGD 1,000 per statement month (i.e., you can earn up to 10,000 bonus points per month).

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2. Amaze Card

The Amaze Card is a multi-currency payment card issued by ICBC Singapore in partnership with Mastercard. It acts as a "bridge" between your credit card and the merchant, allowing you to earn rewards even on spending categories that might not typically qualify for rewards. Key features include:

- Converts Transactions to Online Payments: When you link your Citi Rewards Card to Amaze, all transactions made through Amaze are treated as online transactions. This means you can earn 10X rewards points on spending categories that would otherwise not qualify (e.g., groceries, dining, etc.).

- No Foreign Transaction Fees: Amaze offers competitive currency exchange rates and no foreign transaction fees, making it ideal for overseas spending.

- Seamless Integration: You can link multiple credit cards to Amaze and switch between them as needed.

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How the Combo Works

By combining the Citi Rewards Card with the Amaze Card, you can unlock the following benefits:

1. Earn 10X Rewards Points on All Spending:

   - Since Amaze converts all transactions into online payments, you can earn 10X rewards points on almost any purchase, even at physical stores or non-qualifying categories.

   - For example, if you spend SGD 100 on groceries using Amaze linked to your Citi Rewards Card, you'll earn 1,000 Citi Miles (10X rewards).

2. Maximize Rewards Cap:

   - The Citi Rewards Card has a monthly cap of SGD 1,000 for 10X rewards. By using Amaze, you can maximize this cap by earning rewards on a wider range of spending categories.

3. Overseas Spending:

   - When traveling or making overseas purchases, Amaze eliminates foreign transaction fees and ensures you earn 10X rewards points on all spending.

4. Flexibility:

   - You can link multiple credit cards to Amaze and choose which card to use for specific transactions, giving you greater control over your rewards strategy.

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Example Scenario

- You spend SGD 500 on groceries and SGD 500 on dining in a month.

- Without Amaze: You might earn minimal or no rewards on these categories.

- With Amaze: All SGD 1,000 is treated as online spending, earning you 10,000 Citi Miles (10X rewards).

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Key Considerations

- Amaze Fees: The Amaze Card itself is free, but you need to ensure you're using it strategically to justify the effort.

- Citi Rewards Cap: Be mindful of the SGD 1,000 monthly cap on 10X rewards. Plan your spending to maximize this limit.

- Exclusions: Some transactions (e.g., insurance, utilities, etc.) may still not qualify for rewards, even with Amaze.

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Conclusion

The Citi Rewards + Amaze combo is a powerful way to maximize rewards and cashback on your spending. By converting all transactions into online payments, Amaze allows you to earn 10X rewards points on almost any purchase, making it an excellent tool for savvy credit card users. If you frequently spend on categories like groceries, dining, or overseas purchases, this combo can significantly boost your rewards earnings.

Opinion:

This is still the best card rewards combo for 2025 imo.

Recently, Chocolate Finance debit card is interesting too for education, medical, insurance payments, IRAS, etc.

So my strategy as of now:

1. Citibank rewards + amaze 

2. Posb everyday for sheng siong, geneco

3. SCB smart card for public transport (Till 31st Mar). Might change to Chocolate.

4. Platform specific if available e.g. Maribank credit card for promotional discounts/points.

5. Chocolate finance for education, medical, insurance, IRAS.