Maximising OCBC SmartChange $188

Update 18 Dec 08:
I have discovered paying for Starhub bill via Vpost.com.sg is even better. The minimum is only $2. I have a hell lot of transactions at $2.01. But be prepared for 'security' calls from OCBC and Vpost. I have received their concern calls, fearing that my card was stolen and misused. Anyway with $2.01, I will reach $188 target very fast.
--------------------------------

If you have not heard of OCBC SmartChange, visit http://www.ocbc.com.sg/personal-banking/smartchange/ to read it before proceeding to read below.

I have successfully applied for the OCBC Titanium card and tagged the smartchange account to it. To summarize, OCBC SmartChange gives you cashback of up to $188 in a quarter. If you spend $1.20, you get $0.80 extra. If you spend $1.80, you get $0.20 extra. The trick is to spend as little as possible. The best scenario is to spend $0.01, and you get $0.99

Of course using a credit card, it is almost impossible to spend $0.01. Most credit card merchants would probably accept credit card when your buy things that amount to at least $10 or $30. I can think of Watsons, Guardians, etc, where they accept your credit card to purchase a box of sweets costing like $1.10. Through this SmartChange system, we earn $0.90, which means my box of sweets costs only $0.20. Imagine I buy 1000 boxes of sweets, I earn $90. But the problem comes: how many times can you bring yourself to the cashier and let her swipe your OCBC credit card for a $1.10 item?

The next best item I can think of is paying your bills online by credit card. Things like your handphone, broadband, utility bills, you can pay them all online by credit cards by using sites like www.vpost.com.sg. I personally tried out paying my handphone bill to M1. I paid $5.01 to my bill because the minimum to pay online is $5. Using this method, I can earn $0.99 each time I pay $5.01 to my M1 bill.

A quick calculation to earn the full $188, is to charge many many $5.01 to your credit card. In other words, we need to pay $941.88 exactly worth of bills so that we can pay $5.01 for 188 times. (in case u're wondering, the math is 188 * 5.01 = 941.88) Since the rebate of $188 is paid over a quarter of 3 mths, which means each month average we need to have at least $313 worth of bills to pay for. If you do not have so much bills in a month, you may pay your monthly insurance premiums or other utility bills by OCBC credit card.