With effect from 15 May 2018, UOB has amended the PRVI Payment Facility terms and conditions . If you recall, I previously explained the beauty of this payment facility, where you can request any amount within your credit limit to make miscellaneous payments (if any), and earn miles along with it. With the 2% admin fee, the cost of the miles is essentially 2 cents each. Even if you’ve got absolutely no miscellaneous payments to make, you’ll be purchasing miles at 2 cents each.
Until 15 May 2018, the 2% admin fee was applicable for both one-time and 12-month instalment repayment modes. However, in line with the new terms and conditions, you’ll enjoy the 2% admin fee only if you opt for the one-time repayment option. Regarding the instalment repayment option, the period has been reduced from 12 to 3 months, and admin fee increased to 2.2%.
Technically, if you’ve been making use of this payment facility and opted for one-time repayments, this change shouldn’t impact you at all. So, if you require any topping up of miles for an impending redemption, you should continue to consider the UOB PRVI Payment Facility as an avenue to do so. Bear in mind that UOB can take a while to process the paperwork and approve the request, so plan ahead and submit your forms in advance.
The new application form can be found here.