Thursday, November 5, 2009

Bought eleven $10 Nets Flashpay card

I decided to get lots of Net Flashpay card after hearing a friend tell me about the offer they are giving. Basically, you get $17 card value for paying $15 in a Net Flashpay card at the kiosk.

Profit Margin = 2/15 = 13.3%

However, the slow processing of the kiosk made it too time consuming and I just get eleven instead. There are 2 extreme views of my actions that I know people will have. Most probably, people will feel that it is crazy that I buy so many.

Drawback of buying multiple cards:


Unable to use each card to zero. Especially for buses rides, prices are in the cents and it is unlikely to use each card to zero cent. Therefore, there will be values wasted in each card if not used completely. Probably got to hope there is a refund options in the future like cashcard to get back the amount inside.

Desire to spend unnecessary. Similar to credit card, it can induce more spending since it is so easy to spend money.

Nets goes bankrupt. Doubt this will happen or without any refund.

Troublesome when taking bus. Since I use another SMRT card, I need to take one of them out instead else both cards can clash or be deducted together.

Topup cost of $0.50. Luckily I overheard someone talking about the extra charges to topup. There are currently only 3 types of topup where the cost is free
a) iNETS Kiosks
b) TransitLink Ticket Offices
c) NETS Sales and Customer Service Centre
d) Sheng Siong (unconfirmed, since free if u are spending there)

References:

  1. Nets Flashpay website
  2. Linkpoints - online registation $30 spent earn 1 Linkpoint

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