GrabRewards Revaluation: For Better or For Worse?
 
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GrabRewards Revaluation: For Better or For Worse?

Cherie Tan
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Important Updates To The New GrabRewards Programme

You remember the time when your mama warned you about a company monopolising a market?

That is about to happen when it comes to GrabRewards.

Grabrewards

The revaluation of GrabRewards has angered the nation once again, some would even say it was a devaluation. However, let’s not get clouded by our emotions and we will break it down for you the Seedly way while remaining objective and unbiased.

If you have not heard, Grab has revisited their GrabRewards programme and will be revaluing it. All the updates will kick off on 2 March 2020.


GrabRewards Update: For Better or for Worse? Hang On, We Are Here to Find Out.

GrabRewards changes

NEW Point System for GrabRewards

We bring you bad news. The latest point system for GrabRewards that will take effect from 2 March 2020 will make you want to throw your phone against the wall.

Unless you are seated down, with a cup of nice chamomile tea in your hand, we suggest you read this article later.

The new point system for GrabRewards with effect from 2 March 2020.

Membership TiersPay with GrabPay or GrabPay MastercardGrab rides with Cash
Member2 Points0 Point
Silver2 Points
Gold3 Points
Platinum4 Points

You are awarded points based on your membership tier.

To ease the pain of this change, they will be introducing GrabRewards Flash Sale event where you can save up to 50% on your redemptions. In short, promoting their partners.

OLD Point System for GrabRewards

The old multiplier for GrabRewards awarded for every S$1 spent:

Membership TiersGrab rides with GrabPayGrab rides with CashPay with GrabPay
(for in-store purchases)
GrabFood
Member3 Points1 Point5 Points3 Points
Silver3 Points1 Point5 Points3 Points
Gold4.5 Points1.5 Points7.5 Points4.5 Points
Platinum6 Points2 Points10 Points6 Points

You are awarded points based on your membership tier. However, many are angered by the decrease in the multiplier. How drastic was it? Let’s have a look, shall we?

The Comparison: Old vs New Point System for Grabrewards

The new point system for GrabRewards forces one to use GrabPay or their GrabPay Mastercard as the main payment method.

Any payment with cash now earns you nothing.

Grab Membership TiersPay with GrabPay or GrabPay MastercardPay with Cash
OLDNEWOLDNEW
Member3 Points2 Points1 Point0 Point
Silver3 Points2 Points1 Point
Gold4.5 Points3 Points1.5 Points
Platinum6 Points4 Points2 Points

Although it is harder to earn GrabRewards points, looking at the not-so-bright side, the system “recognises” your loyalty to Grab by awarding higher points to their loyal consumers (Platinum members) than Ordinary members.


GrabRewards Are Now Harder to Redeem

Redeeming Grab Vouchers ($1, $5 and $10 credits)

Okay, we kinda spoke too soon about Grab recognising its loyal customers (Platinum members), they have revised the points required for the redemption for their Grab vouchers on their GrabRewards platform.

Membership Tiers$1 Grab Voucher$5 Grab Voucher$10 Grab Voucher
NEWOLDNEWOLDNEW
All Tiers
(Member, Silver, Gold, Platinum)
550 Points2,200 Points2,500 Points4,200 points5,000 Points

Do note that for every tier you move up, there is a current promotion that gives every tier a different discount when you redeem your Grab vouchers.

Regardless of your membership tier, the number of points required for you to redeem Grab vouchers are the same. So much for “we will continue to reward the most loyal customers.”(Refer to the image below for context)


Grab Voucher in Singapore Dollar (SGD) Equivalent

The cost of $5 Grab voucher in Monetary Value (if you pay with GrabPay)

Membership Tiers$5 Grab Voucher
OLDNEWDIFFERENCE
Member$733$1,250170%
Silver$733$1,250170%
Gold$489$834170%
Platinum$367$625170%

*Amount rounded up to the nearest dollar and percentage.

To reward their most loyal customers (Platinum members), they increased the points required as seen in the table above (under Redeeming Grab Vouchers). That increase itself has now cost all members a 170% increase in redeeming their $5 Grab voucher.

When it previously would have cost a Platinum member $367, costs them $625 now.


Grab Membership Tiers, Points To Qualify and How Much You Need To Spend?

The previous time, they practically REVAMPED the entire GrabRewards membership points system and made Platinum membership easier to achieve.

There is currently no news on whether the membership tier qualification requirement will go through any change with this update.

Points Required for Each Membership Tiers in Grabrewards System

Membership TiersPoints Needed to Qualify
Member0 Point
Silver300 Points
Gold1,200 Points
Platinum4,500 Points

Membership Tiers in Dollar Equivalent

Membership TiersPoints Required to QualifyHow Much You Need To Spend?
(SGD)
Member0 point-
Silver300 points$100
Gold1,200 points$400
Platinum4,500 points$1,000

*Amount rounded up to the nearest dollar.

It will cost you $1,000 to climb to a Platinum member from an ordinary Member.

PLATINUM MEMBER SO WHAT?

What’s the big deal of being a Platinum member? Right now, with Grab being the biggest player in the market (almost a monopoly) with the biggest market share.

It’s no doubt we would be “loyal” to them, we kinda only have them (if we are lazy to flag down).

Platinum Member Perks

  • Accelerated Earning
  • Partner Rewards
  • Platinum Support Line
  • Priority Bookings

Honestly, I feel priority bookings are kind of a big deal. Being only a silver member, it takes me AGES to book a Grab, sometimes I just give up.


Throwback To The EVEN OLDER GrabRewards

Here’s an even older GrabRewards system back in the year 2018 for your reference.

those were the days for GrabRewards
Source: memegenerator.net
Membership TiersPay with GrabPayPay with Cash
OLDOLD
Member16 Points8 Points
Silver
Gold
Platinum

Now we can only look back and reminiscing the good old days.

But hey, we will wait and see what additional perks and benefits are upon their sleeves. The nation is waiting on them to save themselves before we return back to flagging for taxis.

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About Cherie Tan
Turning finance into boba-sized pieces. One iced milk boba tea, please!
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