Every spending situation is unique. SingSaver assembles the ‘Best For‘ list, so you can decide what’s best for you.
It might be a travel blackout year in 2021, but it doesn’t hurt to check out these top credit cards that specifically reward you for foreign currency spends – both online and offline.
The increasing number of travel corridors Singapore is establishing with countries is a sign of gradual easing. When essential travels and vaccinated travel lanes give way to leisure, many would surely pounce at the opportunity to cross borders, which means it is now a good time to start thinking about what credit cards would score you serious savings on overseas spending.
But don’t limit yourself to only look upon foreign transaction fees and complimentary travel insurance. Some credit cards still award the good ol’ cashback, rewards points and miles just by making online transactions in foreign currencies – in turn, you could offset your actual travel spending with those.
Here are the best credit cards for overseas spending we found in Singapore.
Best credit card for overseas spending
|Best for||Credit card||Benefits||Foreign transaction fee|
|Chalking up rewards points and miles||UOB Prvi Miles American Express Card||Up to 6 miles per $1 spend||3.25%|
|Online and mobile contactless||UOB Evol Card||8% Cashback on mobile contactless spend and 8% cash back on online spend. 0.3% Cashback on other spend.||3.25%|
|Online shopping and courier||Standard Chartered Spree||3% cashback on online spend in foreign currency||3.50%|
|Pure cashback||Citi Cash Back Card||6% cashback on dining, 8% cashback on grocery shopping, 0.25% cashback for all other spending||3.25%|
|Global trips||Maybank Family & Friends||Up to 8% cashback on dining, groceries, transport, entertainment and more||2.75%|
|Shopping in general||Standard Chartered Rewards + Credit Cards||Up to 4 Miles Per $1 on overseas spend||3.5%|
|High spenders||CIMB Visa Infinite Card||Unlimited 2% cashback||3%|
Best for rewards points and miles: UOB Prvi Miles American Express Card
The UOB Prvi Miles American Express card has been the talk of the town. Why? because of its attractive bonus miles earn rate, complimentary personal accident and travel inconvenience insurance coverage of up to S$500,000 and the ability to redeem them from over 40 partner airlines.
Earn 6 miles per S$1 spent on major airlines and hotels booked through Expedia, UOB Travel, and Agoda. Additionally, you can earn up to 2.4 miles for every S$1 spent overseas, 1.4 miles for every S$1 spent locally. The best part? No minimum spend and cap on miles earned at all times.
Best for online and mobile contactless: UOB Evol Card
It’s not hard to understand why UOB Evol has been millennials’ weapon of choice, what with its show-stealing 8% Cashback on mobile contactless spend. If you’re stuck at home in Singapore (like most of us are) this card is perfect with it’s 8% cash back on online spend. You don’t even need to step out of your house to get cashback! It’s just one tap away.
What was once known as UOB YOLO card has now transitioned to the UOB Evol Card, making your weekend purchases oh so much easier.
UOB Evol cardmembers will have to meet a minimum of $600 per statement month to earn the maximum cashback rate. Keep in mind also that the total cashback is capped at $60 monthly.
Get up to S$300 cash credit when you apply for the UOB EVOL Card. Valid till 30 Sep 2021. T&Cs apply.
Best for online shopping and courier: Standard Chartered Spree Card
A foreword on the Standard Chartered Spree Card: the card makes the list for its specialty in online shopping, in foreign currency. You may want to skip ahead if you’re looking for something that rewards you for purchases when you’re physically overseas.
This card entitles you to a 3% cashback on online spends in foreign currency, making it worthwhile for cardmembers who regularly add-to-cart on major e-commerce sites. However, taking into account the foreign transaction fee of 3.50%, you’ll have to take it that the cashback is a bonus to offset the fee.
On the bright side, cardmembers enjoy shipping discounts, online price guarantees and a no-fee 0% interest instalment plan.
In case you need to know this, Standard Chartered Spree card offers 2% on all local online spends, contactless payments and mobile payments. Although no monthly minimum spend is required, a S$30 cap in monthly cashback is in force.
Best for cashback: Citi Cash Back Card
The Citi Cash Back card is widely recognised for its generous cashback perk, but one little known fact is that this card make for a fabulous choice for overseas spending.
This card lets you enjoy 6% cashback on dining, 8% cashback on groceries, 8% cashback on petrol locally and globally. However, there is a minimum monthly spend of S$800 and a cashback cap of S$80 per statement month.
What’s even better is that you can get up to S$1 million in travel insurance coverage when you charge your travel tickets to this card and up to 20.88% savings at Esso and Shell, inclusive of 8% cashback for petrol spending. Overall, this card is great for local and overseas spending!
Best for trips: Maybank Family & Friends Card
If you regularly travel across the border for work or leisure, the Maybank Family & Friends Card is a great travel buddy.
You can earn 8% cashback globally on your 5 preferred cashback categories. What’s even better? There is 3X interest on your child’s savings with Maybank Family Plus. Have the chance to make secure, fast and cashless payments on the go. By applying for this card you have access to attractive Maybank Card privileges in Malaysia such as: , 50% discount for two diners, 40% discount for three to ten diners, 30% discount for St Regis Langkawi and St Regis KL and more! You can also such enjoy privileges in Singapore.
While there is a relatively high minimum monthly spend of $800 per calendar month, the annual fee principal is: S$180 (First 3 Years Free) and the supplementary is: free.
You now also have preference to your card’s appearance. Ranging from their original card cover to contemporary and minimalist looks.
Apply Now & Get S$100 Cash Credit. Valid till 20 Sep 21. T&C’s apply.
Best for Shopping: Standard Chartered Rewards + Credit Card
It’d be fair to assume that a good portion of time spent overseas is devoted to shopping. In that case, Standard Chartered’s Rewards + Credit Card is a solid pick for hardcore shoppers.
You can receive up to 10X reward points for every S$1 spent in foreign currency on overseas retail, dining and travel transactions, up to 5X reward points for every S$1 spent on dining transactions and 1 reward point for every S$1 spent on all eligible spend. The best part? No minimum spend required to earn points. Yes you read right. No minimum spend required to earn points. You can stand to gain , 10X points on e-commerce, 10X points on overseas dining, retail and travel spends and 5X points on local dining.
The annual fees for the first 2 years are complimentary allowing you to save a couple hundred bucks from the get go! The rewards available are endless from gift cards and vouchers across popular stores and brands such as Dairy Farm, Watsons, Frasers Malls, TANGS, CapitaLand, Harvey Norman and more.
Best for high spenders: CIMB Visa Infinite Card
The CIMB Visa Infinite is the ‘Black Card’ of the bank – quite literally. With its $120,000 minimum annual income eligibility criteria, you’d know this is meant for an exclusive group. If you happen to be in said group, you’re in for a treat on the overseas spending front.
For one, you could look forward to score an unlimited 2% cashback on all travel, overseas and online spend in foreign currencies. The minimum qualifying spending per month is $2,000. Other categories of spending nets 1% unlimited cashback.
Some could argue that other credit cards like the Citibank Cash Back+ offer 1.6% unlimited cashback with entry-level application criteria. But they probably lack depth in travel perks and golfing privileges; CIMB Visa Infinite allows you to indulge in three complimentary global lounge access at over 1,000 airports annually, with up to 25% discount on selected worldwide airport dining in tow.
Those whose idea of an ideal vacation involves teeing off get to do so at 108 participating golf clubs in 16 countries, and enjoy complimentary green fees.
The CIMB Visa Infinite waives its annual fee for life – a rarity for premium credit cards.
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