HOW IT EARNS
- 1.5% on everything, local and overseas, with no minimum and no annual fee.
- Overseas spend in foreign currency is capped at S$1,500 a month and earns
  NOTHING past it.
- No FX fee from 1 January 2026 — unusual for a Singapore card, and worth
  remembering against cards charging ~3.25%.

WATCH OUT
- CLAUSE 5.3 IS A TIMING RULE, and it is the whole of the remaining error.
  For overseas spend in January and February 2026 the rebate was credited a
  month later as a separate credit; from 1 March (clause 5.4) it attaches to
  the transaction. This file books it in the month of spend, so February
  reads +33% and March -11% — 1,248 of February's 1,276-cent excess.
- An absent cashback row in Jan or Feb means "not yet credited", not "did not
  qualify".

NOT MODELLED
- That one-month lag. `statement_figure` exists at the reward level and would
  need to be per TIER and date-bounded to say this.
- Whether the S$1,500 overseas cap is on SPEND (assumed) or on the cashback.
- The overseas promotion runs to 31 December 2026 and needs an `effective_to`
  once its replacement is known.

EVIDENCE
- Twelve app screenshots, the only per-transaction cashback this card
  exposes. Six matched, six contradicted the file; recorded, April moved from
  +22% to +2% and February from +33% to +9%.
- Rate confirmed 1.5% by the cardholder. MariBank's PDF still says 1.7% at
  clause 2.4, but the product page gives 1.5% from 1 January 2026. The PDF is
  stale — and MariBank keeps both versions live under different filenames.