Looking for the best credit cards to complement your spending patterns and expenditure? This ultimate guide covers all things credit cards in Singapore 2023 – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.
As we transition towards a cashless economy, many of us have begun trading off cash in favour of credit cards – so much so that credit cards have become a staple in our daily lives.
But between cashback, miles, and rewards credit cards, just exactly which few deserve a spot in your wallet? And even among the chosen few, each card has its own rebate-maximising tactic according to its niche categories.
So, regardless of whether you’re a seasoned credit card veteran or credit card newbie, it’s always good to reassess and refresh your credit card strategy every year.
Our ultimate credit card guide 2023 will cover all things credit cards that you’ll need to know in order to lock in the best credit card strategy complementing your expenditure habits, goals, and preferences.
📚 Remember to bookmark this article for easy future reference!
Table of contents
- Overview: Planning a credit card strategy 2023
- Best credit card combos in Singapore 2023
- Tips for stacking credit cards
- What to know before applying for credit cards?
- How to apply for credit cards?
- FAQs about owning credit cards in Singapore
Disclaimer: Last updated on 13 February 2023. This article is meant for educational purposes only. It is not intended as professional financial advice but as credit card recommendations only.
Overview: Planning a credit card strategy 2023
Every year, when it’s time to do some financial spring cleaning, these top questions come to mind: What is my credit card strategy for this year? What will my main credit card roster look like?
Like strategising in competitive gaming or a sports match, a consistently healthy financial status also depends on a game plan. And there are key concerns to consider.
Click to jump to:
- Credit card goals
- New card sign-up & welcome bonuses
- Maximising cashback, miles, and reward points
- Best credit card combination
- Stacking credit cards
What are your credit card goals?
As the mantra goes, “begin with the end in mind”. So let’s start off simple: what credit card goals would you like to achieve in 2023?
Is it to maintain a good credit score? Is it to max out on monthly cashback? Is it to accumulate enough miles to book a business return ticket?
Do you want a dedicated credit card for online shopping and dining? Or perhaps you need a trusty card for public transport commutes? Maybe you have an upcoming home renovation to pay for?
Read more:
How to Save Thousands of Dollars on Home Renovation in Singapore
How to Earn Miles on MRT and Bus Rides With SimplyGo
Depending on what goals you wish to achieve, your priorities for your credit card strategy will follow accordingly. This means being realistic about your goals too.
For instance, if you want to book an economy return ticket to Seoul, you’ll need at least 54,000 KrisFlyer miles to redeem it.
HSBC Revolution Card
Even with a miles card like HSBC Revolution that earns up to 10X Rewards Points or 4 miles per S$1 dollar (4mpd) on selected categories or via contactless payment. This boosted rate is capped at S$1,000 per month.
Once that’s exceeded, the mileage rate drops back down to the base 0.4 mpd.
So considering you max out on 4,000 miles per month for a year, that’s only 48,000 miles accumulated. There are still 6,000 leftover miles to account for.
Under the base 0.4 mpd rate, you’d minimally need to spend an extra S$15,000 to compensate for that amount to fulfil 54,000 KrisFlyer miles.
Unless you’re spending on a big-ticket item, this is definitely a lofty goal to reach in total annual expenditure.
💡 Pro-tip: Different banks’ mileage programmes have different rewards points-to-miles conversion rates and minimum redemption blocks.
For instance, we know that 1 HSBC Reward Point = 0.4 miles. However, there’s a minimum redemption block of 25,000 HSBC Reward Points = 10,000 miles.
You’d also need to pay an annual membership fee if you wish to redeem these miles yearly.
The takeaway here is to thoroughly ponder your credit card objectives and narrow down the more attainable ones from there.
Cashback vs Miles vs Rewards: How to choose the right credit card for yourself?
These days, spending has become second nature. It’s easier to throw caution to the wind and spend money without meticulously tracking every penny, but at the risk of becoming a spendthrift after that.
And guilty as charged!
We’ve all cut ourselves some slack whenever we exceeded our planned monthly budget. That said, choosing the right credit card can either complement your spending habits or cause them to turn for the worse.
Ask yourself these questions to determine what’s an appropriate credit card for you:
- Do you prefer cashback, miles, or rewards points?
- What’s your monthly budget allowance?
- What’s your actual monthly expenditure/spending pattern like? Do you exceed said budget?
- What’s the spend category breakdown of your expenditure like?
- What credit card objective(s) do you want to achieve?
First and foremost, what type of rebates do you fancy?
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Cashback
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Miles
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Rewards
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Mechanics
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Earn X% cashback to offset future credit card bill payments
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Earn X miles per S$1 spent on eligible spend categories
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Earn X points per S$1 spent on eligible spend categories to redeem rewards
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Advantages
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More straightforward; fewer conditions to satisfy
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Miles tend to be valued higher than cashback
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Rewards tend to be valued higher than cashback
Points may be convertible into miles Wide range of rewards available for redemption (e.g. vouchers, cash rebates, discounts, annual fee waivers, etc.) |
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Disadvantages
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Min. spend
Cashback caps |
Miles expiry
Miles conversion fee Spend cap on miles earned |
Redemptions available at merchant partners only
Points expiry |
💰 Cashback is great for those who prefer cash rebates to offset their monthly credit card bills.
✈️ Miles is great for those who want their spending habits to fund their next trip out of the country.
💯 Rewards points are great for those who enjoy redeeming rewards through points (bank privileges, miles conversion, annual fee waivers, and more)!
From these three general definitions, you can already get a rough idea of which credit card type might suit your needs.
Next, identify what categories you spend on the most each month. Do you like to dine out and order takeaway frequently? Do you mostly shop online? Do you need to buy groceries regularly? Do you commute on public transport or via private hire (e.g. Gojek, Grab) more?
💡 Pro-tip: A good gauge to track your spending categories would be to reflect on your last three months’ expenses.
Depending on what your top spend categories are, you can narrow down which credit cards cater towards them in terms of offering boosted rebates.
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UOB One Card
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UOB Lady's Card
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For instance, UOB One Card rewards up to 15% cashback on Grab, Shopee, and selected grocery partners. Alternatively, UOB’s Lady Card rewards 10X UNI$ Points (20 miles) per S$5 spent on selected shopping and dining.
See also: Cashback vs Miles vs Rewards: Which is the Best Credit Card?
How to earn sign-up & welcome bonuses on new cards?
It’s undeniable that welcome bonuses and sign-up rewards are great incentives to apply for credit cards.
When using a credit card comparison site like ours, SingSaver, you’ll find tons of ongoing credit card promotions giving away attractive rewards like Dyson AirWrap, Ergotune chairs, Sony headphones, and more – just by applying for a credit card.
After successful application and approval, just spend a minimum amount on eligible transactions within the month to receive your reward.
Besides that, some credit cards offer welcome bonuses like complimentary miles or enhanced cashback rates to encourage more spending within the first month.
Whatever your cup of tea is, the common denominator to earning sign-up and welcome bonuses are hitting your credit card’s minimum spend amount within a stated period.
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How to maximise cashback, miles, or rewards points?
Figuring out how to maximise your cashback, miles, or rewards points every month is another common conundrum that many credit cardholders have. It seems easy enough but is often harder than expected to achieve.
Click to jump to:
💰 Cashback
In order to maximise your cashback, there are a few generic conditions to satisfy.
- Fulfil your cashback card’s monthly minimum spend requirement. They can come in denominations of S$500, S$600, S$800, S1,000, or S$2,000.
- Only transactions with eligible merchants will be considered as eligible spend.
- Different cashback cards have different cashback caps per category. You need to track when each category’s limit is reached.
💡 Pro-tip: Once all of a card’s cashback category caps are hit, switch to another cashback credit card to continue earning rebates elsewhere. Don’t leave any cashback opportunity wasted. 🤩
Out of the three, the most common pitfall many cardholders struggle with is point two – failing to spend at eligible merchants. To qualify for cashback, a merchant you transacted with must fall under a credit card’s Merchant Category Codes (MCCs).
Any purchases made with a merchant omitted from a card’s MCCs will not qualify for cashback.
Read more:
Best Cashback Credit Card in Singapore
Best Unlimited Cashback Credit Cards in Singapore
✈️ Miles
In order to maximise your miles, there are fewer conditions to satisfy but a longer waiting game is involved.
- Find out your card’s miles rates on local spend and overseas spend.
- Miles are calculated per every S$1 spent on local or overseas spend. (e.g. 1.2 mpd, 4 mpd)
- Charge all your transactions (both local and overseas) to your air miles card.
- Find out if your card has boosted miles rates for selected spend categories.
- If so, make it your dedicated card for purchases under those categories to maximise your monthly miles.
- No minimum spend is required.
- But, cards have spend caps on selected categories, so your total boosted miles will be capped too.
Most miles credit cards tend to have a higher miles rate on overseas spend than local spend. That means you earn more miles on overseas expenses (per S$1) charged to your miles card than locally.
Citi PremierMiles Card
For instance, a miles card like Citi PremierMiles has a base rate of 1.2 mpd on local spending and 2 mpd on overseas spending. However, Citibank imposes a 3.25% foreign transaction (FX) fee. There is also a currency conversion fee of 1% (Visa/Mastercard) or 2.95% (AMEX).
💡 Pro-tip: Bypass those pesky FCY fees, earn miles, and additional rebates by tagging your air miles card to a multi-currency card like the Instarem Amaze Card.
AMEX SIA KrisFlyer Card
For boosted miles earn rates, AMEX Singapore Airlines KrisFlyer Card offers an enhanced 3.1 mpd on eligible Grab and dining transactions, capped at S$200 each per month.
See also: Best Air Miles Credit Cards in Singapore
💯 Rewards Points
In order to maximise Rewards Points, you follow the same approach as collecting miles.
- Find out your card’s base and boosted Rewards Point rates.
- Only eligible spend with eligible merchants will qualify for boosted rates.
- Other spend will earn the base rate only.
- No minimum spend is required.
- But, cards have spend caps on selected categories, so your boosted Rewards Points will be capped too.
- Rewards Points can either be redeemed for bank privileges/rewards or converted into miles.
Essentially, a rewards credit card is a mix of cashback and miles cards. You’re able to collect points and redeem rewards (e.g. retail vouchers, cash credit, annual fee waivers, etc.) or convert them into miles.
DBS Woman's World Card
For example, DBS Woman’s World Card earns up to 10X DBS Points per S$5 spent on online purchases, capped at S$2,000 per month. So, you can earn a monthly maximum of 4,000 DBS Points.
That’s enough to redeem a Takashimaya Department Store S$50 voucher (3,200 DBS Points) or convert it to 8,000 miles.
This is why opting for a rewards card allows you to swing both ways in either the cashback game or the miles game.
💡 Pro-tip: Remember to monitor your points’ expiry, if applicable.
See also: Best Rewards Cards in Singapore
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Best credit card combinations for your wallet in 2023
Now we’ve arrived at the juicy question: what’s the best credit card combination to use in 2023?
Credit card combinations are subjective to your needs and preferences in spending. There’s no one-size-fits-all approach to determining the best credit card roster.
However, there’s one mindset that’ll help streamline your credit card lineup in 2023.
Prioritise specialised spending cards & use general spending cards minimally.
This golden rule applies to everyone, regardless of cashback, miles, or rewards.
General spending cards are credit cards that earn base rebates on a broad spectrum of spend categories. These are usually useful for everyday spend (e.g. groceries, petrol, public transport, etc.).
Specialised spending cards are credit cards that earn enhanced rebates on specific spend categories. These are usually useful for dedicated spending habits (e.g. online or contactless shopping, overseas purchases, travel, dining out and food delivery, etc.)
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General spending card
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Specialised spending card
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Cashback
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1.5% – 1.7% unlimited cashback on all spend
Below 5% cashback on all spend |
6% – 15% cashback on selected categories
Up to 22.1% cashback on fuel
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Miles
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1 mpd – 1.6 mpd on all spend
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Up to 4 mpd on selected categories
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Rewards
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1 – 3X Rewards Points on all spend
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Up to 10X Rewards Points on selected categories
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Now don’t get us wrong, there’s nothing inherently wrong with general spending cards. But if you want to earn more for less, work smarter not harder…
Your general spending card should be used minimally or only as a backup card whereas your specialised spending card should be maximised.
Click to jump to:
- Best for dining & food delivery
- Best for online purchases
- Best for contactless purchases
- Best for offline purchases
- Best for travel/FCY purchases
- Best for public transport
- Best for groceries
- Best for petrol
- Best for big-ticket items
- Best for general spending
Best credit cards for dining & food delivery
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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POSB Everyday Card
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10% on food delivery (WhyQ, foodpanda, Deliveroo)
3% on dining (excludes fast food) |
Min. S$800 monthly spend
Daily$30 rebate cap in total (per calendar month): - Daily$15 per category |
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Maybank Family & Friends Card
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8% on dining & food delivery
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Min. S$800 monthly spend
S$25 cashback cap (per statement month) Three-year annual fee waiver |
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UOB EVOL Card
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8% on dining & food delivery paid via online or mobile contactless spend
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Min. S$600 monthly spend
S$20 cashback cap for each category (per statement month) |
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✈️ Miles card combo 🌍
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Credit card
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Miles earn rate
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Details
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HSBC Revolution Card
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4 mpd for dining paid via online or mobile contactless spend
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UOB Lady’s Card
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4 mpd on dining
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Choose dining as 10X category
S$1,000 spend cap (per calendar month) Equivalent to 2X UNI$ per S$1 spent - UNI$ are rounded down to the nearest whole number Card T&Cs |
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DBS Woman’s World Card
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4 mpd on dining paid via online spend
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S$2,000 spend cap (per calendar month)
4 mpd consists of: - 1.6 base mpd - 3.4 bonus mpd Bonus miles only awarded in next calendar month Card T&Cs |
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📣 Honourable mention
Maybank Horizon Visa Signature Card
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Up to 3.2 mpd on dining
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Min. S$300 monthly spend
Equivalent to 8X TREAT Points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 3.2 mpd only applicable if redeemed on Maybank TREATS SG app Rewards Points/Miles T&Cs Card T&Cs |
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📣 Honourable mention
KrisFlyer UOB Card
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Up to 3 mpd on dining & food delivery
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Min. S$800 annual spend on SIA, Scoot, and KrisShop
No miles cap on 3 mpd but complicated bonus components - 1.2 base mpd - 1.8 bonus mpd only credited 14 months after card approval Read our KrisFlyer UOB Card review here |
The HSBC Revolution Card, UOB Lady’s Card and DBS Woman’s World Card need no introduction. These have been evergreen, popular miles cards for many reasons — dining being one of them.
Rewarding up to 4 mpd for dining, earning miles on them are generally fuss-free and complaints are few and far between.
On the flip side, the Maybank Horizon Visa Signature Card and UOB KrisFlyer Card are honourable mentions here.
For starters, they don’t reward as many bonus miles per dollar as the aforementioned few.
Maybank Horizon Visa Signature Card rewards up to 3.2 mpd and the UOB KrisFlyer Card rewards up to 3 mpd, after various terms and conditions are met. Hence, they require cardholders to jump through more hoops.
However, Maybank Horizon outshines UOB KrisFlyer just a smidge when it comes to low spenders. Its minimum spend is only S$300 per month to qualify for its 3.2 mpd!
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🎁 Rewards card combo 🛍️
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Credit card
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Points earn rate
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Details
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Citi Rewards Card
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10X Rewards Points per S$1 on dining & food delivery paid via online spend
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S$1,000 spend cap / 10,000 Point cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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HSBC Revolution Card
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10X Reward Points on dining & food delivery via online or mobile contactless spend
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S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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UOB Lady’s Card
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10X UNI$ per S$5 spend on dining
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Choose dining as 10X category
S$1,000 spend cap (per calendar month) Equivalent to 2X UNI$ per S$1 spend: - UNI$ are rounded down to the nearest whole number Card T&Cs |
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DBS Woman’s World Card
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10X DBS Points per S$5 on dining & food delivery via online spend
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S$2,000 spend cap (per calendar month)
10X DBS Points consists of: - 1 base point - 9X bonus points Equivalent to 2X DBS Points per S$1 spent Bonus miles only awarded in next calendar month Card T&Cs |
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📣 Honourable mention
SCB Rewards+ Card 
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Up to 10X Rewards Points on FCY dining
Up to 5X Rewards points on local dining |
20,000 Point cap on bonus points (per year)
10X Rewards Points consists of: - 1 base point - 9X bonus points 5X Rewards Points consists of: - 1 base point - 4x bonus points Card T&Cs |
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Best credit cards for online purchases
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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CIMB Visa Signature Card
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10% on online spend
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Min. S$800 monthly spend
10% cashback consists of: - 0.2% base cashback - 9.8% bonus cashback S$20 cashback cap for each category (per statement month) |
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OCBC Frank Card
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Up to 10% on online spend:
- 8% on local online spend - Extra 2% if eligible green merchant |
Min. S$800 monthly spend
S$100 cashback cap (per calendar month): - S$25 per category |
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POSB Everyday Card
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5% on selected merchants:
- RedMart - iHerb - Lazada - Taobao - Shopee - Amazon.sg - Qoo1o |
Min. S$800 monthly spend
Daily$15 rebate cap for each category (per calendar month) |
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UOB EVOL Card
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8% on online spend
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Min. S$600 monthly spend
S$20 cashback cap for each category (per statement month) |
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✈️ Miles card combo 🌍
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Credit card
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Miles earn rate
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Details
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Citi Rewards Card
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4 mpd on online spend
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S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 4mpd rate
Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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HSBC Revolution Card
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4 mpd on online spend
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S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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📣 Honourable mention
DBS Woman’s World Card
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4 mpd on online spend
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S$2,000 spend cap (per calendar month)
4 mpd consists of: - 1.6 base mpd - 3.4 bonus mpd Bonus miles only awarded in next calendar month Card T&Cs |
As always, the HSBC Revolution Card and the Citi Rewards Card come out on top.
Personally, we'd only UOB Lady’s Card as a last resort because of the limitations in its category selection.
Online transactions encompass a wide variety of spend categories – taking Grab, shopping on Shopee, renewing your Spotify subscription, and the list goes on.
In contrast, this card only allows you to choose one category per quarter, it’s not the most viable for overall online purchases.
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🎁 Rewards card combo 🛍️
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Credit Card
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Points earn rate
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Details
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Citi Rewards Card
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10X Rewards Points per S$1 on online spend
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S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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OCBC Titanium Rewards Card
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50 OCBC$ per S$5 on online spend
Bonus: E-commerce protection |
120,000 bonus OCBC$ cap (per year)
OCBC$ points are awarded per S$5 blocks 50 OCBC$ per S$5 consists of: - 5X base points - 45X base points on eligible merchants 1 Mar 2023: Amazon and Mustafa Centre will no longer qualify for bonus 10 OCBC$ if they fall under MCC 5411 (Grocery stores, supermarkets)
Eligible MCCs & rewards T&Cs Card T&Cs |
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DBS Woman’s World Card
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10X DBS Points per S$5 on online spend
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S$2,000 spend cap (per calendar month)
10X DBS Points consists of: - 1 base point - 9X bonus points Equivalent to 2X DBS Points per S$1 spent Bonus miles only awarded in next calendar month Card T&Cs |
As long as your online transaction doesn’t fall under a bank’s general exclusion list, it’s more or less eligible for your card’s rebates.
That’s why, online purchases are a broad spectrum of categories that everyone should maximise either cashback, miles, or rewards points under.
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Best credit cards for contactless purchases
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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UOB One
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Up to 15% on selected categories paid via mobile contactless spend:
- Public transport (SimplyGo) - Shopee - Dairy Farm International - Grab - UOB Travel |
Quarterly cashback
Min. S$500 / S$1,000 / S$2,000 monthly spend for 3 consecutive months - Min. 5 transactions per statement month More details on cashback breakdown |
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DBS Live Fresh Card
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Up to 10% on mobile contactless spend:
- 5% on mobile contactless spend - Extra 5% if selected eco-merchants |
Min. S$600 monthly spend
S$75 cashback cap (per statement month) - S$25 per category |
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OCBC Frank Card
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Up to 10% on mobile contactless spend:
- 8% on mobile contactless spend - Extra 2% if eligible green merchant |
Min. S$800 monthly spend
S$100 cashback cap (per calendar month): - S$25 per category |
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UOB EVOL Card
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8% on mobile contactless spend
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Min. S$600 monthly spend
S$20 cashback cap for each category (per statement month) |
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✈️ Miles & 🎁 Rewards card combo
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Credit card
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Miles / Points earn rate
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Details
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HSBC Revolution Card
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10X Rewards Points (4 mpd) per S$1 on mobile contactless spend
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S$1,000 spend cap (per calendar month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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UOB Preferred Platinum Visa (PPV) Card
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10X UNI$ per S$5 (4 mpd) on mobile contactless spend
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S$1,000 spend cap (per calendar month):
- Online spend - Mobile contactless spend UNI$ are rounded down to the nearest whole number Card T&Cs |
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📣 Honourable mention
UOB Visa Signature Card 
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10X UNI$ per S$5 (4 mpd) on mobile contactless spend
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Min. S$1,000 monthly spend per category
S$2,000 spend cap (per statement month) UNI$ are rounded down to the nearest whole number Card T&Cs |
We’ve combined miles and rewards cards for contactless payment because we recommend the same cards for both: HSBC Revolution Card and UOB Preferred Platinum Visa (PPV) Card — with an honourable mention going to UOB Visa Signature Card.
Both HSBC Revolution and UOB PPV Cards offer 10X Rewards Points or 4 mpd depending on what your poison is. More specifically, these two cards are specialised for mobile contactless spend — furthering the cashless agenda.
However, if we’re nitpicking, HSBC Revolution has a slight edge over UOB PPV. Why? Because unfortunately, the latter has a few downsides.
- 👎 Must add UOB PPV to mobile wallet and pay via PayWave in order to qualify for bonus 4 mpd via mobile contactless spend.
- 👎 Tapping physical card does not qualify for bonus 4 mpd.
- 👎 More non-eligible merchant exclusions (e.g. UOB$ merchants)
Nevertheless, the UOB PPV is still a decent card to score your miles on contactless spend. It removes the additional hassle of bringing out your physical card anyway.
Other than that, if you ever bust your minimum S$1,000 spend limit on either cards, this is where the UOB Visa Signature Card swiftly comes in as backup.
Likewise, it earns 4 mpd for a minimum S$1,000 spend (per statement month) on contactless and/or petrol spend. Each month’s total spend is capped at S$2,000 (per statement month) across all overseas (including online), petrol, and contactless spend.
So, if you felt like a baller and went all out on S$2,000 contactless spend within a calendar month, your maximum miles earned is 4,000X UNI$ or 8,000 miles.
📝 Editor’s note: Nowadays, I don’t usually bother bringing out my wallet anymore. I usually assume either PayWave or QR payment will be accepted; but if not, I’d just borrow some money from pals first and pay back later. 🤭
In any case, being able to earn enhanced cashback, miles, or rewards points with just a tap of PayWave is the epitome of efficiency (see: shiok).
Best credit cards for offline purchases
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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UOB One
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Up to 15% on selected categories:
- Public transport (SimplyGo) - Shopee - Dairy Farm International - Grab - UOB Travel |
Quarterly cashback
Min. S$500 / S$1,000 / S$2,000 monthly spend for 3 consecutive months - Min. 5 transactions per statement month More details on cashback breakdown |
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POSB Everyday Card
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Up to 10% on daily essentials:
- 10% on dining - 8% on shopping Up to 5% on bills: - 5% on utility bills - 3% on telco bills Up to 20.1% + extra 2% on fuel
0.3% on all other spend |
Min. S$800 monthly spend for maximum cash rebates
Different Daily$ rebate caps for each category (per calendar month) Daily$ Cap T&Cs |
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Citi Cash Back Card
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8% on groceries and all fuel
6% on dining 0.25% on all other spend Bonus: - Up to 20.88% fuel savings at Esso and Shell |
Min. S$800 monthly spend
S$80 cashback cap (per statement month) Cashback T&Cs Other T&Cs Citi Merchants Exclusion List |
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✈️ Miles & 🎁 Rewards card combo
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Credit card
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Miles / Points earn rate
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Details
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OCBC Titanium Rewards Card
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10X OCBC$ (4 mpd) on eligible offline purchases
Bonus: Extra 2% at BEST Denki |
S$12,000 annual spend cap
1 Mar 2023: Amazon and Mustafa Centre will no longer qualify for bonus 10 OCBC$ if they fall under MCC 5411 (Grocery stores, supermarkets). Rewards T&Cs Card T&Cs |
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Maybank Horizon Visa Signature Card
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Up to 8X TREATS Points (3.2 mpd) on offline purchases
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Min. S$300 monthly spend
30,000 Bonus TREATS Points cap (per calendar month) 8X TREATS Points consists of: - 1X base point - 7X bonus points 5X TREATS Points consists of: - 1X base point - 4X bonus points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 3.2 mpd only applicable if redeemed on Maybank TREATS SG app Three-year annual fee waiver Rewards Points/Miles T&Cs Card T&Cs |
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HSBC Revolution Card
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10X Rewards Points (4 mpd) on offline purchases
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Citi Rewards Card
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10X Rewards Points (4 mpd) on offline purchases
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S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
The main reason why OCBC Titanium Rewards Card is a worthy contender here is because of its bonus miles limit.
It doesn’t follow a monthly cap, but rather an annual cap (of 120,000 bonus OCBC$ / S$12,000 spend).
The annual cap on bonus miles rewards you for spending on big-ticket items and other costly purchases. Despite its narrower range of eligible 4 mpd categories, this card is perfect for cardholders with irregular shopping habits — preferring to swipe their cards more often in some months, and less so during other months.
You’ll never have to worry about curbing your spending according to a monthly cap.
💡 Pro-tip: For offline spend, max out on your OCBC Titanium Rewards first before moving on to HSBC Revolution or Citi Rewards. Ideally, you’d want to reserve the latter two for more online and mobile contactless spend.
Meanwhile, another miles card we’d recommend here is the Maybank Horizon Visa Signature Card.
Offering up to 8X TREATS Points (or 3.2 mpd) on all eligible dining, petrol, taxi rides, public transport (via SimplyGO) or hotel bookings via Agoda, it’s a decent card for offline spend on the daily grind.
What’s more, it has one of the lowest minimum spend requirement on the market at only S$300 per month to qualify for bonus points/miles. The only drawback is that its list of participating merchants needs to fall under the following MCCs:
- MCC 5812: Dining
- MCC 5541 & 5542: Petrol
- MCC 4121: Taxi rides*
- MCC 4111: Public transport (SimplyGO)
- MCC 4722: Agoda
Do note that any transaction charged at merchants not falling under these MCCs are not considered as eligible merchants for bonus points/miles.
*Local taxi service providers refer to Comfort & CityCab, Cabcharge Asia Pte Ltd, Premier Taxis, Prime Taxi, SMRT Taxis, Trans-Cab, and Grab.
Best credit cards for travel / foreign currency (FCY) spend
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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CIMB Visa Signature Card
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10% on cruises
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Min. S$800 monthly spend
S$100 cashback cap (per statement month) - S$20 per category 10% cashback consists of: - 0.2% base cashback - 9.8% bonus cashback No annual fee Card T&Cs |
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Citi Cash Back Card
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6% on dining worldwide
8% on overseas grocery stores |
Min. S$800 monthly spend
S$80 cashback cap (per statement month) Cashback T&Cs Other T&Cs Citi Merchants Exclusion List |
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OCBC Frank Card
|
Up to 10% on FCY spend:
- Base 8% cashback - Extra 2% on selected green merchants |
Min. S$800 monthly spend
S$100 cashback cap (per calendar month): - S$25 per category |
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Maybank Family & Friends Card
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8% on FCY spend on preferred categories (Choose 5):
- Groceries - Dining & food delivery - Transport - Data communication & online TV streaming - Retail & pets - Online fashion - Entertainment - Pharmacy - Sports & sports apparels - Beauty & wellness |
Min. S$800 monthly spend
S$125 cashback cap (per statement month) - S$25 per category Three-year annual fee waiver |
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📣 Honourable mention
UOB Absolute Cashback Card  |
Unlimited 1.7% on all spend
Bonus: Earn 3% on eligible overseas shopping, dining, travelling, and others (including online) between 15 Jan to 28 Feb 2023 |
No min. spend
No spend cap Bonus 3% consists of: - 1.7% base cashback - 1.3% bonus cashback with min. S$1,500 spend |
In the realm of overseas spend cashback, the OCBC Frank Card and Maybank Family & Friends Card take the spotlight.
The OCBC Frank Card is dedicated to giving you up to 10% cashback on FCY spend, if you transact with eligible green merchants.
Conversely, the Maybank Family & Friends Card also offers a respectable 8% cashback globally on your top 5 preferred categories (out of 10 choices).
Both cards require a minimum S$800 monthly spend in order to receive their respective cashback bonuses.
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✈️ Miles card combo 🌍
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Credit card
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Miles earn rate
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Details
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Amaze + Citi Rewards Cards
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1 InstaPoint per S$1 (1% cashback) on min. S$10 in FCY spend
4 mpd on online FCY spend |
S$1,000 spend cap (per statement month) on bonus 4 mpd rate
1 InstaPoint per S$1 spent in FCY transactions of at least S$10 InstaPoints can be converted to 1% cashback or discounts on overseas money transfers |
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UOB PRVI Miles Card
|
6 mpd on major airlines and hotel globally
2.4 mpd on FCY spend |
Bookings via Agoda, Expedia, and UOB Travel
Up to S$500,000 complimentary travel insurance coverage Card T&Cs |
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UOB Visa Signature Card
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4 mpd on FCY spend
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KrisFlyer UOB Card
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3 mpd on travel (including Airbnb)
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Min. S$800 annual spend on SIA, Scoot, and KrisShop
No miles cap on 3 mpd but complicated bonus components - 1.2 base mpd - 1.8 bonus mpd where only credited 14 months after card approval Read our KrisFlyer UOB Card review here |
Despite the rewards programme exclusions and cashback nerfs, it’s still a solid choice to pair your Citi Rewards Card with the multicurrency card, Amaze.
Compared to other multicurrency cards on the market like YouTrip or Revolut, the Amaze Card allows you to link up to 5 MasterCard bank cards (like Citi Rewards) to the Amaze wallet.
Additionally, the Amaze Card offers 1 InstaPoint per S$1 of at least S$10 FCY spend, capped at S$500 per transaction.
For instance, if you only transacted S$9 in FCY spend, you won’t earn any InstaPoints. And regardless of whether you spend S$500 or S$1,000 in FCY, you’ll receive a maximum of 500 InstaPoints only.
For more credit card pairing hacks, click to jump to our tips on credit card stacking.
Read more:
Instarem’s amaze Card Review: Is it Still Amazing?
Cash vs Multi-Currency Cards: Pros & Cons
Credit Card or Multi-Currency Card For Overseas Spending?
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🎁 Rewards card combo 🛍️
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Credit Card
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Points earn rate
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Details
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Citi Rewards Card
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10X Rewards Points per S$1 on online FCY spend (except travel)
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S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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Standard Chartered Rewards+ Card
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10X Rewards Points on FCY spend (overseas, retail, dining, and travel)
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20,000 Point cap on bonus points (per year)
10X Rewards Points consists of: - 1 base point - 9X bonus points Card T&Cs |
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OCBC Titanium Rewards Card
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50 OCBC$ per S$5 on FCY spend
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120,000 bonus OCBC$ cap (per year)
OCBC$ points are awarded per S$5 blocks 50 OCBC$ per S$5 consists of: - 5X base points - 45X base points on eligible merchants Eligible MCCs & rewards T&Cs Card T&Cs |
When we think of overseas spend, we’d usually consider miles (and sometimes, cashback) cards to pay for our FCY transactions. But if we’re talking rewards, SCB+ Rewards Card seems like a possible option.
Offering up to 10X Rewards Points on all FCY spend on overseas retail, dining, and travel, this rewards card was made for all your overseas splurges — be it in shopping, eating, or experiences/entertainment.
💡 Pro-tip: Want extra cashback? Say no more. Earn up to S$220 cashback when you activate and spend a minimum of S$200 on eligible transactions within 30 days of your card’s approval. T&Cs apply.
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Best credit cards for public transport & private-hire vehicles (e.g Grab, Gojek, taxis)
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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UOB One Card
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Up to 15% on public transport (SimplyGO) and Grab
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Quarterly cashback
Min. S$500 / S$1,000 / S$2,000 monthly spend for 3 consecutive months - Min. 5 transactions per statement month More details on cashback breakdown |
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POSB Everyday Card
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5% on public transport (SimplyGO)
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Min. S$800 monthly spend
Daily$15 rebate cap in total (per calendar month) |
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DBS Live Fresh Card
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Up to 10% on public transport (SimplyGO)
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Min. S$600 monthly spend
S$15 cashback cap (per calendar month) on green merchants like public transport Cashback FAQs Card T&Cs |
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OCBC Frank Card
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Up to 10% on public transport (SimplyGO) and private hire:
- 8% on mobile contactless spend - Extra 2% on selected green merchants |
Min. S$800 monthly spend
S$25 cashback cap (per calendar month) for each category |
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Maybank Family & Friends Card
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8% on transport
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Min. S$800 monthly spend
S$25 cashback cap (per statement month) Three-year annual fee waiver |
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UOB EVOL Card
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8% on public transport (SimplyGO) via mobile contactless spend
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Min. S$600 monthly spend
S$20 cashback cap (per statement month) for each category |
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✈️ Miles card combo 🌍
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Credit card
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Miles earn rate
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Details
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UOB Lady’s Card
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4 mpd on public transport (SimplyGO) and ride-hailing apps (e.g. Grab, ComfortDelGro Taxi)
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Choose transport as 10X category
S$1,000 spend cap (per calendar month) Equivalent to 2X UNI$ per S$1 spent - UNI$ are rounded down to the nearest whole number Card T&Cs |
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UOB PRVI Miles Card
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1.4 mpd on public transport via mobile contactless spend (SimplyGO) |
No min. spend
Equivalent to 0.7X UNI$ per S$1 spend UNI$ are rounded down to the nearest whole number Card T&Cs |
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Standard Chartered Smart Card
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Up to 7.7 mpd on public transport (SimplyGO)
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No min. spend S$818 spend cap (per statement month) Limited spend categories: McDonald's, KFC, Subway, Burger King, Ya Kun Kaya Toast, Toast Box, Fun Toast, public transport via SimplyGO, Netflix, Spotify, Youtube, Disney+ Singapore Card T&Cs |
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HSBC Revolution Card
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4 mpd for Grab, Gojek, and taxi services via online or mobile contactless spend
Not applicable to public transport via SimplyGO |
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Citi Rewards Card
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4 mpd on ride-hailing apps (e.g. Grab, Gojek, taxis)
Not applicable to public transport via SimplyGO |
S$1,000 spend cap / 10,000 Point cap (per statement month) for bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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DBS Woman’s World Card
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4 mpd on ride-hailing apps (e.g. Grab, Gojek, and taxi services) via online spend
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S$2,000 spend cap (per calendar month)
Miles are awarded in S$5 blocks per spend Bonus miles only awarded in next calendar month Card T&Cs |
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Maybank Horizon Visa Signature Card
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Up to 3.2 mpd for selected taxi ride providers:
- Comfort and CityCab - Cabcharge Asia Pte Ltd - Premier Taxis - Prime Taxi - SMRT Taxis -Trans‐Cab - Grab |
Min. S$300 monthly spend
30,000 Bonus TREATS Points cap (per calendar month) Equivalent to 8X TREATS Points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 3.2 mpd only applicable if redeemed on Maybank TREATS SG app Three-year annual fee waiver Rewards Points/Miles T&Cs Card T&Cs |
For daily commuters, using a trusty credit card to offset every cent in public transport costs is a cent well-saved. Although the public transport rebate game is largely dominated by cashback cards, there are still notable miles cards worth considering.
The UOB Lady's Card is the best bet here. As long as you choose 'Transport' as your 10X Category, you can start earning 4 mpd on public transport via SimplyGo, capped at S$1,000 per calendar month.
💡 Fun fact: The UOB PRVI Miles Card used to be the highest-earning miles card for public transport, at an amazing rate of 4.4 mpd. Unfortunately, this promotion was only ongoing from 1 September to 31 December 2020.
Besides that, the Standard Chartered Smart Card is another prime contender.
Featuring up to 7.7 mpd (or 19.2 360° Reward Points per S$1) on fast food, streaming subscriptions, and public transport (SimplyGO), it’s definitely the miles card for your commuting.
The enhanced 19.2 360° Reward Points consist of:
- 1.6 base 360° Reward Points per S$1 (or 0.5% cashback)
- 17.6 bonus 360° Reward Points per S$1 (or 5.5% cashback)
But there’s always a catch, isn’t there? This upsized 7.7 mpd doesn’t exactly come for free. In order to achieve this glorious rate, you’ll need to own a Standard Chartered X Card or Visa Infinite as a complementary card.
SCB X Card
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SCB Visa Infinite Card
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Why is that so? Essentially, Standard Chartered’s reward system is biased towards X Card or Visa Infinite cardholders. They’re entitled to a boosted bonus miles conversion rate of 1,000 miles = 2,500 points, which amounts to 0.4 mpd.
Hence, the bonus 17.6 360° Reward Points per S$1 can be calculated into roughly 7.4 mpd.
What’s more, with these cards, you can pool your points together. This means that you can tabulate your points across all cards before “cashing them all out” for miles in one shot!
Furthermore, this enhanced rate is available for a limited time only — until 31 December 2023. After that, it reverts to the measly 1.6 mpd. So, enjoy it while it lasts!
But wait!
What if you don't own either SCB X Card or SCB Visa Infinite Card? What happens then?
You'll only be entitled to redeem your 360° Reward Points into cashback at the minimum rate of 3,200 360° Reward Points = S$10 cashback.
In other words, the SCB Smart Card simply functions as a traditional rewards card to earn cash rebates – which doesn't make this a very strategic 'miles' card by proxy anymore.
Read their T&Cs here for more details.
Unfortunately, our crowd favourites – HSBC Revolution and Citi Rewards – don't seem to reward miles for public transport. They're mostly only useful for booking Grab, Gojek, and taxi rides via apps.
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🎁 Rewards card combo 🛍️
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Credit Card
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Points earn rate
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Details
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Maybank Horizon Visa Signature Card
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Up to 8X TREATS Points on selected taxi ride providers:
- Comfort and CityCab - Cabcharge Asia Pte Ltd - Premier Taxis - Prime Taxi - SMRT Taxis -Trans‐Cab - Grab |
Min. S$300 monthly spend
30,000 Bonus TREATS Points cap (per calendar month) Equivalent to 3.2 mpd 8X TREATS Points consists of: - 1X base point - 7X bonus points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 3.2 mpd only applicable if redeemed on Maybank TREATS SG app Three-year annual fee waiver Rewards Points/Miles T&Cs Card T&Cs |
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Citi Rewards Card
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10X Rewards Points per S$1 on ride-hailing apps only
Not applicable to public transport via SimplyGO |
S$1,000 spend cap / 10,000 Point cap (per statement month) for bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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HSBC Revolution Card
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4 mpd for Grab, Gojek, and taxi services via online or mobile contactless spend
Not applicable to public transport via SimplyGO |
S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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DBS Woman’s World Card
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10X DBS Points per S$5 on ride-hailing apps e.g. (Grab, Gojek, and taxi services) via online spend
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S$2,000 spend cap (per calendar month)
10X DBS Points consists of: - 1 base point - 9X bonus points Equivalent to 2X DBS Points per S$1 spent Bonus miles only awarded in next calendar month Card T&Cs |
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UOB Lady’s Card
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10X UNI$ per S$5 spend on on public transport (SimplyGO) and ride-hailing apps (e.g. Grab, ComfortDelGro Taxi)
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Choose transport as 10X category
S$1,000 spend cap (per calendar month) Equivalent to 2X UNI$ per S$1 spent - UNI$ are rounded down to the nearest whole number Card T&Cs |
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Standard Chartered Smart Card
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Up to 19.2X 360° Reward Points on public transport (SimplyGO) |
S$14,400 points cap (per statement month) on additional bonus points 19.2 Reward Points consists of: - 1.6X base points - 17.6X bonus points Bonus rate valid till 31 Dec 2023 only Card T&Cs |
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📣 Honourable mention
Citi SMRT Card 
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5% SMRT$ savings on public transport (SimplyGO) and ride-hailing services
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5% SMRT$ savings consists of:
- 0.3% base points - 4.7% bonus points Rebate conversion rate: - 10 SMRT$ = S$10 - 50 SMRT$ = S$50 - 100 SMRT$ = S$100 |
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Best credit cards for groceries
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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UOB One Card
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Up to 15% on Dairy Farm International merchants
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Quarterly cashback
Min. S$500 / S$1,000 / S$2,000 monthly spend for 3 consecutive months - Min. 5 transactions per statement month More details on cashback breakdown |
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CIMB Visa Signature Card
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10% on groceries
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Min. S$800 monthly spend
S$100 cashback cap (per statement month): - S$20 per category - No cap on all other spend Cashback T&Cs |
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Citi Cash Back Card
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8% on groceries
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Min. S$800 monthly spend
S$80 cashback cap (per statement month) Cashback T&Cs Other T&Cs Citi Merchants Exclusion List |
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Maybank Family & Friends Card
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8% on groceries
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Min. S$800 monthly spend
S$25 cashback cap (per statement month) |
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POSB Everyday Card
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7% at Sheng Shiong
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Min. S$800 monthly spend
Daily$15 rebate cap in total (per calendar month) |
Are we even surprised? Cashback cards basically dominate the grocery division as well… which is to be expected. After all, they’re usually unrivalled in cash rebates for everyday spend categories like grocery shopping.
💡 Pro-tip: The DBS Live Fresh Card and the OCBC Frank Card reward up to 10% cashback for those who enjoy shopping at eco-merchant supermarkets like Scoop Wholefoods! Please refer to their respective T&Cs for more eligible merchant details.
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✈️ Miles & 🎁Rewards card combo
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Credit card
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Miles / Points earn rate
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Details
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Citi Rewards Card
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10X Rewards Points (4 mpd) on online groceries
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S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
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HSBC Revolution Card
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10X Rewards Points (or 4 mpd) on groceries via online or mobile contactless spend
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S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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UOB Lady’s Card
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10X UNI$ (4 mpd) on selected supermarkets
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Choose family as 10X category
S$1,000 spend cap (per calendar month) Equivalent to 2X UNI$ per S$1 spent - UNI$ are rounded down to the nearest whole number Card T&Cs |
Best credit cards for petrol
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
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Details
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OCBC 365 Card
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5% on all fuel
Bonus: Up to 22.1% fuel savings at Caltex Up to 20.2% fuel savings at Esso |
Min. S$800 monthly spend
Daily$15 rebate cap in total (per calendar month) |
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Citi Cash Back Card
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8% on all fuel
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Min. S$800 monthly spend
S$80 cashback cap (per statement month) Cashback T&Cs Other T&Cs Citi Merchants Exclusion List |
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POSB Everyday Card
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Up to 20.1% on fuel at SPC
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No min. monthly spend to earn base rebates
Min. S$800 monthly spend (to earn max. rebates) Different spend categories capped at different Daily$ cash rebates (per calendar month) Cash rebate T&Cs |
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HSBC Visa Platinum Card
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5% on all fuel
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Quarterly cash rebate
Min. S$600 monthly spend S$250 quarterly cashback cap No annual fee Cash rebate T&Cs |
If you specifically pump petrol at Esso or Shell, consider the UOB One Card.
If you specifically pump petrol at SPC, consider the POSB Everyday Card.
If you’re not loyal to any petrol kiosk and prefer to pump at your convenience, use either the Citi Cash Back Card or HSBC Visa Platinum Card.
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✈️ Miles & 🎁 Rewards card combo
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Credit card
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Miles / Points earn rate
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Details
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UOB Visa Signature Card
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10X UNI$ per S$5 (or 4 mpd) on all fuel spend
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UOB Lady’s Card
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10X UNI$ per S$5 (or 4 mpd) on fuel spend at Esso, Shell, SPC, etc.
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Maybank Horizon Visa Signature Card
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Up to 8X TREATS Points (3.2 mpd) on all fuel
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Min. S$300 monthly spend
30,000 Bonus TREATS Points cap (per calendar month) 8X TREATS Points consists of: - 1X base point - 7X bonus points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 3.2 mpd only applicable if redeemed on Maybank TREATS SG app Three-year annual fee waiver Rewards Points/Miles T&Cs Card T&Cs |
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Maybank World Mastercard
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10X TREATS Points (4 mpd) on all fuel
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S$2,000 spend cap (per calendar month)
Higher annual income requirement of S$80,000 10X TREATS Points consists of: - 1X base point - 9X bonus points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 4 mpd only applicable if redeemed on Maybank TREATS SG app Rewards Points/Miles T&Cs Card T&Cs |
If you don’t drive as often, we’d recommend the Maybank Horizon Visa Signature Card. Its lower minimum spend of S$300 per month and decent 8X TREATS Points or 3.2 mpd on fuel spend is comparable to the regular 4 mpd competitors.
But if you’re on the opposite end of the spectrum and drive on the daily, the UOB Visa Signature Card will be your best bet. It has the highest spend cap of S$2,000 per statement month shared across two broad categories:
- Overseas and online transactions
- Petrol and contactless transactions
This way, you can either allocate UOB Visa Signature as your dedicated petrol card by maxing out the S$2,000 monthly spend cap on fuel spend only or split this spend limit evenly among the other categories.
Best credit cards for big-ticket purchases
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💵 Cashback card combo 💰
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Credit card
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Cashback rate
|
Details
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UOB One Card
|
Up to 15%: - 3.33% base cashback on eligible spend - Additional 5% on eligible merchants - Enhanced 6.67% on eligible merchants |
Quarterly cashback
Min. S$500 / S$1,000 / S$2,000 monthly spend for 3 consecutive months - Min. 5 transactions per statement month More details on cashback breakdown |
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UOB Absolute Cashback Card
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Unlimited 1.7% on all spend
|
No min. spend
No cashback cap |
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Citi Cash Back+ Card
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Unlimited 1.6% on all spend
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AMEX True Cashback Card
 |
Unlimited 1.5% on all spend
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No min. spend
No cashback cap |
Well, there’s clearly a trend here.
Cashback cards generally have more limitations for large expenses – literally – because of the monthly cashback cap imposed on the majority of them. The cap can be as little as S$75 cashback per month. (*cough* DBS Live Fresh *cough*)
As a result, your cashback and cash rebates will be compromised if you choose to buy a big-ticket item using a regular cashback card. You’ll be missing out on a lot of wasted cashback.
That’s why if you identify as a big spender and cashback lover, we’d recommend an unlimited cashback card for you to spend to your heart’s content.
See also: 6 Reasons Why Your First Credit Card Should Be an Unlimited Cashback Card
But not all hope is lost, because there is one regular cashback card you can try – the UOB One Card. The UOB One Card is the most notable cashback card currently known for its minimum spend tiers and enhanced cashback.
Depending on whether you spend S$500, S$1,000, or S$2,000 per month, you stand to earn up to 15% cashback on all eligible spend categories such as UOB Travel, Dairy Farm International etc.
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✈️ Miles & 🎁Rewards card combo
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||
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Credit card
|
Miles / Points earn rate
|
Details
|
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HSBC Revolution Card
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10X Rewards Points (4 mpd) on online and mobile contactless spend
|
S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
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UOB Visa Signature Card
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10X UNI$ per S$5 (or 4 mpd) on:
- Overseas & online spend - Mobile contactless spend |
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UOB Lady’s Solitaire Card
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10X UNI$ per $5 (or 4 mpd) on 2 preferred categories:
- Beauty - Fashion - Family - Travel - Transport - Entertainment |
Good for honeymoon travelling
Choose travel as 10X category S$1,000 spend cap (per calendar month) Card T&Cs |
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Citi Prestige Card
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5 ThankYou Points (2 mpd) on overseas spend
3.25 ThankYou Points (1.3 mpd) on local spend 1X complimentary night stay with min. consecutive four-night stay at any hotel or resort Unlimited complimentary access to Priority Pass airport lounges 8 complimentary one-way airport limousine transfers Bonus: 120,000 ThankYou Points (48,000 miles) welcome gift |
Ideal for luxurious wedding honeymoon overseas
Higher annual income requirement of S$120,000 Rebate conversion rate: - S$10 = 4,400 ThankYou Points - S$20 = 8,800 ThankYou Points - $50 = 22,000 ThankYou Points Benefits T&Cs Card T&Cs Citi Merchants Exclusion List |
Comparatively, miles cards have higher spend caps than cashback cards, so they’re slightly more ideal for big-ticket items. However, these caps usually range between S$1,000 to S$2,000 per month.
Unless it’s similar to the OCBC Titanium Rewards Card which doesn’t follow a monthly spend cap, but an annual spend cap instead.
Best credit cards for general spending
|
💵 Cashback card combo 💰
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|
Credit card
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Cashback rate
|
Details
|
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POSB Everyday Card
|
Up to 10%
|
Min. S$800 monthly spend
Daily$15 rebate cap in total (per calendar month) |
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OCBC 365 Card
|
Up to 6%
|
Min. S$800 monthly spend
S$80 cashback cap (per calendar month) |
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OCBC Frank Card
|
Up to 8% on online & mobile contactless spend
Extra 2% on selected green merchants |
Min. S$800 monthly spend
S$100 cashback cap (per calendar month): - S$25 per category |
|
DBS Live Fresh Card
|
5% on public transport (SimplyGO), online, and mobile contactless spend
Up to 10% on selected eco-friendly merchants |
Min. S$600 monthly spend
S$75 cashback cap (per calendar month): - S$20 on online spend - S$20 on mobile contactless spend - S$15 on selected eco-friendly merchants - S$20 on all other spend |
|
Maybank Family & Friends Card
|
8% on preferred categories (Choose 5):
- Groceries - Dining & food delivery - Transport - Data communication & online TV streaming - Retail & pets - Online fashion - Entertainment - Pharmacy - Sports & sports apparels - Beauty & wellness |
Min. S$800 monthly spend
S$25 cashback cap (per statement month) |
|
UOB EVOL Card
|
8% on dining & food delivery paid via online or mobile contactless spend
|
Min. S$600 monthly spend
S$20 cashback cap for each category (per statement month) |
|
✈️ Miles card combo 🌍
|
||
|
Credit card
|
Miles earn rate
|
Details
|
|
UOB PRVI Miles Card
|
1.4 mpd on local spend
2.4 mpd on overseas spend (including FCY online shopping) Bonus: Over 44,000 welcome miles with min. S$1,000 monthly spend for 2 consecutive months + annual fee payment |
|
|
OCBC Voyage Card
|
1.3 mpd on local spend
2.2 mpd on foreign spend Bonus: - Up to 23% off fuel spend at Sinopec - 19% off fuel spend at Caltex - 14% off fuel spend at Esso |
|
|
DBS Vantage Card
  |
1.5 mpd or 1.5% cashback on local spend
2.2 mpd or 2.2% cashback on overseas spend
Up to 6 mpd on Expedia bookings
Bonus:
- Up to 19% fuel savings at Esso
- 10 complimentary airport lounge access to over 1,300 airports worldwide |
DBS Points never expire Miles & cashback are calculated in DBS Points per every S$5 spent 1 DBS Point = 2 miles or S$0.02 cashback Min. S$120,000 annual income requirement Expensive annual fees of S$594 |
|
Citi PremierMiles Card
|
1.2 mpd on local spend
2 mpd on overseas spend |
|
|
DBS Altitude Card
|
1.2 mpd on local spend
2 mpd on overseas spend Up to 10 mpd on hotel and flight transactions via selected platforms Bonus: Earn up to 4 mpd on overseas spend until 31 Jan 2023 + stand to win a pair of Business Class return tickets to London on SIA |
|
|
OCBC 90°N Card
|
1.2 mpd on local spend
2.1 mpd on overseas spend Bonus: 7 Travel$ per S$1 on Agoda bookings in FCY 6 Travel$ per S$1 on Agoda bookings in SGD |
Travel$ Miles never expire
Travel$ are awarded per S$5 transactions 1 Travel$ mile = 1 KrisFlyer mile Converted in blocks of 1,000 Travel$ From Feb 2023: Convert Travel$ to loyalty points at 8 airline and hotel partner programmes Loyalty Programme T&Cs Card T&Cs |
Broadly speaking, the approach to using miles cards for general spend should be on a last-resort basis.
But don’t get us wrong; we’re not saying your staple HSBC Revolution and Citi Rewards can’t be used for general spend. On the contrary, it’s more like you shouldn't let their competitive 4 mpd rate go to waste.
Thus, you should reserve them for more targeted and/or intentional spend of sizeable value to maximise your miles earned.
Otherwise, the “unlimited” miles card – UOB PRVI Miles Card – is a fairly safe choice. Earning you 1.4 mpd on local spend and 2 mpd on overseas spend (including FCY overseas shopping), your miles will accumulate at a decent pace.
Similarly, the OCBC Voyage Card earns you 1.3 mpd on local spend and 2.2 mpd on overseas spend. Even better, you’re entitled to upsized discounts on fuel spend at Sinopec, Caltex, and Esso.
But hey, if you’re reading this, you’re probably in the miles game for the long haul. Slow and steady wins the race, so the UOB PRVI Miles and OCBC Vantage Cards should be more of supplement to your other mainstay miles cards.
|
🎁 Rewards card combo 🛍️
|
||
|
Credit card
|
Points earn rate
|
Details
|
|
Citi Rewards Card
|
10X Rewards Points per S$1 on eligible online spend:
- Online & offline retail shopping (including selected department stores) - Food delivery - Online groceries - Taxi / ride-hailing apps |
S$1,000 spend cap / 10,000 Point cap (per statement month) on bonus 10X rate
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point Card T&Cs Other T&Cs Citi Merchants Exclusion List |
|
HSBC Revolution Card
|
10X Reward Points on online and mobile contactless spend
|
S$1,000 spend cap (per statement month)
10X Rewards Points consists of: - 1 base point - 9X bonus points Calculations for 10X Rewards Points are rounded down to the nearest point |
|
Maybank Horizon Visa Signature Card
|
8X TREATS Points on dining, petrol, transport, and Agoda bookings
5X TREATS Points on air tickets, cruise and travel packages, and FCY spend (online or overseas) |
Min. S$300 monthly spend
30,000 Bonus TREATS Points cap (per calendar month) 8X TREATS Points consists of: - 1X base point - 7X bonus points 5X TREATS Points consists of: - 1X base point - 4X bonus points [Updated] Conversion rate: 5X TREATS Points per S$5 retail spend 8X and 5X TREATS Points only applicable if redeemed on Maybank TREATS SG app Rewards Points/Miles T&Cs Card T&Cs |
|
The American Express Platinum Card
|
Base 2X Membership Rewards Points per S$1.60 spent
Up to 10X Membership Rewards Points per S$1.60 spent at Platinum 10Xcelerator Partners in Singapore Bonus: S$100 eCapitaVoucher welcome gift* & minimum spend gift** each |
Above average annual fee of S$324
*Welcome gift: Valid for min. S$1 spend on eligible purchases within first 30 days of card approval **Minimum spend gift: Valid for min. S$2,000 spend on eligible purchases within first 3 months of card approval Card T&Cs |
If your HSBC Revolution and Citi Rewards Cards are specifically reserved for accumulating miles, the Maybank Horizon Visa Signature Card or the American Express Platinum Card could be reserved as your general spend rewards cards.
What we like about the Maybank Horizon Visa Signature Card is its lower S$300 minimum monthly spend and decent rebate rate of up to 8X TREATS Points on general spend categories like dining, petrol, transport, and travel bookings on Agoda.
Meanwhile, the American Express Platinum Card is slightly different in that it earns up to 10X Membership Rewards Points per S$1.60 spent at Platinum 10Xcelerator Partners in Singapore.
Although it charges a heftier S$324 annual fee (compared to the average S$194.40 fee), AMEX rewards programme has always been known for its exclusive and excellent list of partners.
Tips for stacking credit cards
For truly avid credit card fiends, having an effective credit card combo is not enough. Why not take it a step further and add some credit card stacking tips as the cherry on top?
#1 Pairing an unlimited cashback card with GrabPay Card
For the uninitiated, GrabPay Card is a prepaid MasterCard that functions like a debit card. It allows you to spend from your GrabPay Wallet directly, so you’ll have to ensure your wallet balance is sufficiently topped up whenever you want to use it.
Besides functioning like a debit card, you can earn GrabRewards Points per dollar spent on eligible Grab F&B merchants. Other spend will not earn any points.
But that’s not our main reason for recommending the GrabPay Card.
The GrabPay Card is most useful for double-dipping rewards and paying for insurance when paired with an unlimited cashback credit card like the AMEX True Cashback Card.
AMEX True Cashback Card
The AMEX True Cashback Card offers 1.5% unlimited cashback on almost all spend*.
It's great for paying commonly-excluded categories such as insurance premiums, e-wallet top-ups and bill payments.
But then, you must be thinking: why can’t I just pay for insurance upfront using the cashback cards themselves?
Well, the problem is that it's an AMEX card.
Meaning, you technically can pay your premiums with them directly – provided that your insurance company accepts AMEX as a valid payment processor. Although in reality, many insurance companies don’t.
Hence, topping up your GrabPay wallet with the AMEX True Cashback Card to pay your insurance premiums via the GrabPay Card is one of the best methods to still receive your cashback on such a tricky category.
While you’re at it, order yourself some GrabFood to earn GrabRewards Points too. 😉
Note: AMEX True Cashback Card has slightly more spend exclusions than the UOB Absolute Cashback Card.
See also: 6 Reasons Why Your First Credit Card Should Be an Unlimited Cashback Card
#2 Pairing a MasterCard credit card with Instarem amaze Card
Source: Instarem
The Instarem amaze Card is another multicurrency rewards card for shopping and travel.
Here’s what it offers:
- E-wallet top-up with competitive FX rates while travelling overseas
- Allows users to link up multiple MasterCard credit cards
- Earn InstaPoints on FCY spends to convert to 1% cashback or discounts on overseas money transfers
As long as you own a MasterCard credit card, you can link it to your amaze account and double dip in rebates too!
Citi Rewards Card
For example, the Citi Rewards Card is a popular choice pairing with amaze. You can earn 10X Rewards Points (4 mpd) on eligible online and offline shopping spend (including selected department stores), ride-hailing apps, and online groceries and food delivery.
On top of that, you’ll earn 1 InstaPoint for every S$1 spent in FCY transactions of at least S$10, which you can proceed to either convert for 1% cashback or discounts on overseas money transfers with amaze.
You’re essentially earning miles and cashback simultaneously!
💡 Pro-tip: Hearsay, Instarem Amaze converts all offline transactions into online transactions! That’s why it’s the perfect combination with a credit card like Citi Rewards catering towards online spend.
Read more:
Multi-Currency Card vs Credit Card vs Cash For Travelling Overseas
Citi Rewards Card Review
Back to top
What to know before applying for credit cards?
Before you start applying for credit cards, there are a few ground rules to know.
1. You should be earning at least S$30,000 in annual income.
For entry-level credit cards, the minimum annual income is S$30,000 unless stated otherwise. Higher-tier credit cards would naturally demand higher income requirements like S$80,000 and S$120,000.
Banks would usually require you to declare at least 3 months’ worth of your salary during application.
💡 Pro-tip: There have been anecdotal cases of successful credit card applications even if one’s annual income falls below the minimum requirement. We’re not sure why the exceptions happen, but you could just try your luck and see whether the bank accepts or rejects your application.
2. There are many fees and charges involved with credit cards.
We all know the importance of keeping track of your monthly credit card bill and paying it in full on time, but here are some other fees and charges that new cardholders might be unaware of.
- Annual principal fee: A non-refundable yearly fee for card ownership.
- Minimum monthly repayment: The smallest sum of money needed to pay monthly to keep your credit account in good standing. Each card’s minimum monthly payment differs according to their T&Cs.
An example of how minimum payment is calculated
Source: Citibank
- Overlimit fee: A fee imposed on the card with the highest balance on the statement billing date, if the total outstanding balance of all credit cards exceed customer’s combined credit limit within the statement period.
- Cash advance fee: A fee imposed for a disbursement of funds in any currency.
- Foreign transaction (FX/FCY) fees*: The fees that banks impose when using your credit card to make overseas or online purchases in non-SGD spend.
- Annual interest rate: The yearly interest rate (p.a.) charged on your card’s balance.
- Late payment charges: A fee imposed for failure to pay credit card bill on time.
- Card renewal/replacement fee: A handling fee for the renewal or replacement of the card.
💡 Pro-tip: A credit card’s annual fee can usually be waived if you call up your bank to request.
*Foreign transaction fees are different from currency conversion fees imposed by credit card payment processors like Visa, MasterCard or AMEX. Regardless, both charges are imposed during transactions in non-SGD spend.
Read more:
Why Was Your Credit Card Application Declined?
Can You Get a Credit Card on Low or No Income?
How to apply for credit cards through SingSaver?
Now that you’ve learned all that you need to know about credit cards in Singapore, it’s time to actually sign up for one — with none other than us at SingSaver!
The sign-up process is actually fairly straightforward. We’ll take you through the steps.
Step #1: Choose your preferred credit card through our comprehensive card comparison pages.
Step #2: Click on the ‘Apply Now’ button to access the card’s Application Form.
Step #3: Fill up your email address in the form’s blank to receive a link to the Rewards Redemption Form.
You must fill up your email address in order to receive your credit card sign-up gift
Step #4: Once filled up, press ‘Confirm’ to go to complete the rest of the card’s Application Form on the next page as per normal.
Step #5: To receive your sign-up reward, follow the link in the email sent to sign up for a SingSaver Account and submit your Rewards Redemption Form.
You should receive an email that looks something like this.
Step #6: Wait for your credit card to be approved.
In the meantime, your sign-up reward will be retrievable within 90 to 120 days from the date of your Rewards Redemption Form submission, so long as you’ve successfully met all promotion eligibility.
You’ll be sent an email update in due time regarding the collection point for gift retrieval.
💡 Pro-tip: Remember, only eligible categories as defined by your card’s sign-up promotion will be counted towards your card’s eligible spend. So be sure to call up your card’s bank to monitor your spend requirement’s progress periodically.
Read more:
Credit Card Welcome Offer: A Comparison of the Best Gifts (2023)
Credit Card Promotions: Exclusive on SingSaver (2023)
FAQs about owning credit cards in Singapore 2023
#1 Is it necessary to own a credit card in Singapore?
The short answer is: no.
You definitely don’t need a credit card to get by in Singapore. Plenty of working adults live in Singapore perfectly fine with a normal debit card.
However, we do admit that most adults get a credit card at some point in their lives, but the motivations for a credit card differ.
From credit card sign-up rewards, to clocking miles for the next overseas getaway, to cushioning inflation with some cashback, you need to be certain of why and what you’re getting a credit card for.
Also, ensure your finances are in check first. The last thing you’d want to deal with is credit card debt.
Read more:
What Should You Do if You Can’t Pay Off Your Credit Card Bill?
4 Ways You’re Accumulating Debt Without Knowing it
Unpaid Credit Card Bills? Here’s How a Balance Transfer Helps
#2 Should I have a mixture of cashback, miles, and rewards cards in my wallet? Or should I focus on one kind of credit card only?
There’s no “right or wrong” way to own credit cards, it’s up to personal preference. You can totally interchange between cashback, miles, and rewards cards as and when you want.
But from a rebate maximisation standpoint, it’s better to pick a lane and stick to it. In other words, decide whether you prefer collecting cashback, miles, or rewards points, and commit to it!
#3 What are Merchant Category Codes (MCCs)?
A Merchant Category Code (MCC) is a four-digit number assigned to a merchant or business by the merchant’s acquiring bank.
The bank provides the credit card payment facilities used by the merchant to determine and apply the relevant MCC best describing the merchant’s activities.
For example, a restaurant like Genki Sushi falls under the Dining category, and will thus be classified under one of the acquiring bank’s MCC for dining like MCC 5812 (Restaurants and Eating Places) perhaps.
According to Citibank’s MCC manual, the categories are as follows:
- MCCs 0001 – 1499 (Agricultural Services)
- MCCs 1500 – 2999 (Contracted Services)
- MCCs 3000 – 3299 (Airlines)
- MCCs 3300 – 3499 (Car Rental)
- MCCs 3500 – 3999 (Lodging)
- MCCs 4000 – 4799 (Transportation Services)
- MCCs 4800 – 4999 (Utility Services)
- MCCs 5000 – 5999 (Retail Outlet Services)
- MCCs 5600 – 5699 (Clothing Stores)s
- MCCs 5700 – 7299 (Miscellaneous Stores)
- MCCs 7300 – 7999 (Business Services)
- MCCs 8000 – 8999 (Professional Services and Membership Organisations)
- MCCs 9000 – 9999 (Government Services)
#4 How can I check for MCCs?
There’s no “confirmed” way to verify MCCs. While our table above is a good point of reference, there are always MCC eligibility exceptions that you’ll have to personally scrub through your credit card’s T&Cs themselves.
Unfortunately, MCCs aren’t as straightforward all the time. There tend to be overlaps between merchant categories and banks may differ in MCC classification for the same merchant.
The RedMart-Lazada classification is one tricky example.
Although RedMart is under Lazada, it doesn’t belong in the same MCC 5311 (Department Stores, Online Shopping). Rather, its transactions are classified under MCC 5411 (Grocery Stores, Supermarkets).
Another troublesome example would be hotel dining.
Technically, you ate a buffet dinner at a hotel’s restaurant, but the bank would recognise the main business as MCCs 3500 – 3999 (Lodging).
As a result, what you thought was enhanced cashback for dining actually turned out to yield the base cashback rate instead. Tragic.
Moral of the story here? You literally have to read the fine print of your receipts…
Nonetheless, below is a compilation of commonly-recognised merchants and their general MCC classifications (unless stated otherwise by the bank):
|
Merchant
|
MCC
|
Category
|
|
Boost
|
MCC 5499
|
Miscellaneous Food Stores — Convenience Stores, Markets, Specialty Stores, And Vending Machines
|
|
Pizza Hut
|
MCC 5811
|
Caterers
|
|
iO Italian Osteria
|
MCC 5812
|
Restaurants And Eating Places
|
|
GrabFood
FoodPanda
Deliveroo
|
||
|
ATLAS Bar
MARQUEE Nightclub |
MCC 5813
|
Bars, Cocktail Lounges, Discotheques, Nightclubs, and Taverns-Drinking Places (Alcholic Beverages)
|
|
McDonald’s
|
MCC 5814
|
Fast Food Restaurants
|
|
GrabFood
FoodPanda
Deliveroo
|
||
|
Tai Cheong Bakery
|
MCC 5462
|
Bakeries
|
|
Comfort Taxi
|
MCC 4121
|
Taxi Cabs And Limousines
Taxis & Public Transport |
|
Grab (Taxi rides)
|
||
|
Gojek
|
||
|
Ryde
|
MCC 5734
|
Computer Software Stores
Taxis & Public Transport |
|
EZLink, EZLink Top-ups
|
MCC 6540
|
PoI (Point Of Interaction)
Funding Transactions (Excluding Moneysend) Taxis & Public Transport |
|
SimplyGO
|
MCC 4111
|
Transportation — Suburban And Local Commuter Passenger, Including Ferries Taxis & Public Transport
|
|
Amazon.sg
|
MCC 5999
|
Miscellaneous And Specialty Retail Stores
Online Shopping |
|
Carousell
|
||
|
Aliexpress
|
MCC 5964
|
Direct Marketing — Catalog Merchants
Online Shopping |
|
Lazada
|
MCC 5311
|
Department Stores
Online Shopping |
|
Taobao (app)
|
||
|
RedMart (via Lazada)
|
MCC 5411
|
Grocery Stores, Supermarkets
|
|
Taobao (PC)
|
||
|
Shopee
|
MCC 5399
|
Miscellaneous General Merchandise Stores
|
|
Qoo10.sg
|
||
|
Lovet
Love, Bonito The Closet Lover Young Hungry Free |
MCC 5691
|
Men’s and Women’s Clothing Stores
Online Shopping |
|
Helpling
|
MCC 5045
|
Computers, Computer Peripheral Equipment, Software
|
|
Challenger
BEST Denki |
MCC 5732
|
Electronics Stores
|
|
Alan Photo
|
MCC 5044
|
Office, Photographic, Photocopy and Microfilm Equipment
|
|
Adobe Creative Cloud subscription
|
MCC 5734
|
Computer Software Store
|
|
Singapore Airlines
|
MCC 3075
|
Payment abbreviation:
SINGAPOREAIR (Visa) SINGAPOR (MasterCard) |
|
Q & M Dental Surgery
|
MCC 8021
|
Dentists and Orthodontists
|
|
OWNDAYS
Glimpse |
MCC 8043
|
Opticians, Optical Goods and Eyeglasses
|
|
Ng Teng Fong General Hospital
Tan Tock Seng Hopistal National University Hospial (NUH) |
MCC 8062
|
Hospitals and Medical Fees
|
|
7-Eleven
|
MCC 5541
|
Service Stations (With or Without Ancillary Services)
|
|
Shell Petrol Kiosks
|
MCC 5542
|
Fuel Dispenser, Automated
|
|
Singtel
M1 Starhub GOMO giga |
MCC 4814
|
Telecommunication Services including but not limited to prepaid phone services and recurring phone services
|
|
Prudential
NTUC Income AXA Health |
MCC 6300
|
Insurance Sales, Underwriting, and Premium Payments
|
|
GrabPay Top-ups
|
MCC 6051
|
Quasi Cash–Merchants (Non-Financial Institutions – Foreign Currency, Non-Fiat Currency, Cryptocurrency)
Prepaid Top-ups |
|
AXS Payments
|
MCC 9399 – Not Elsewhere Classified
|
Government Services
|
Note: The merchants listed above are not exhaustive.
#5 How much is 1 KrisFlyer Mile worth?
Every bank has different Rewards Points conversion rates into KrisFlyer or Asia Miles miles.
|
Bank
|
Conversion rate
|
Conversion ratio
|
Conversion fee
|
Pooling
|
|
Citibank
|
1 Citi Mile = 1 mile
1 Citi ThankYou Point = 0.4 miles |
Citi Mile : Frequent Flyer Programme*
10,000 : 10,000 Citi ThankYou Point : Frequent Flyer Programme 25,000 : 10,000 |
S$26.75 per conversion
|
No
|
|
DBS/POSB
|
1 DBS Point = 2 miles
|
DBS Points : KrisFlyer/Asia Miles/Qantas Points
5,000 : 10,000 DBS Points : BIG Points 5,000 : 1,500 |
S$27 per conversion
Fee waived for BIG Points conversion (until 31 Dec 2023) |
Yes
|
|
UOB
|
1 UNI$ = 2 miles
|
UNI$ : KrisFlyer/Asia Miles
5,000 : 10,000 |
S$25 per conversion
|
Yes
|
|
OCBC
|
1 OCBC$ = 0.4 miles
1 VOYAGE Mile = 1 mile 1 Travel$ = 1 mile |
OCBC$ : KrisFlyer miles
10,000 : 25,000 Travel$ : KrisFlyer miles 1,000 : 1,000 |
S$25 per conversion for OCBC$
Free conversion for VOYAGE Miles and Travel$ |
Yes, except for OCBC 90°N
|
|
HSBC
|
1 HSBC Point = 0.4 miles
|
HSBC Points : KrisFlyer/Asia Miles
25,000 : 10,000 |
S$42.80 annual fee for unlimited conversions
|
No
|
|
Maybank
|
1 TREATS Point = 0.4 KrisFlyer miles
1 TREATS Point = 0.416 AsiaMiles 1 TREATS Point = 0.16 BIG Points 1 TREATS Point = 0.4 Enrich Miles |
TREATS Points : KrisFlyer Miles
25,000 : 10,000 TREATS Points : AsiaMiles 12,500 : 5,000 TREATS Points : BIG Points 12,500 : 2,000 TREATS Points : Enrich Miles 12,500 : 5,000 |
S$26.75 per conversion
Free conversion for BIG Points |
Yes
|
|
Standard Chartered
|
1 SMART$ = 0.29 miles
|
SMART$ : KrisFlyer Miles
3,500 : 1,015 |
S$26.75 per conversion
|
Yes
|
|
Bank of China
|
1 BOC Bonus Point = 0.22 miles
|
BOC Bonus Points : KrisFlyer Miles
45,000 : 10,000 BOC Bonus Points : AsiaMiles 27,000 : 6,000 |
–
|
*Frequent Flyer Programme refers to KrisFlyer, Asia Miles, British Airways Executive Club, Ethihad Guest, Eva Air, Air France & KLM Flying Blue, Qantas Frequent Flyer, Thai Royal Orchid Plus, Turkish Airlines Miles & Smiles.
Back to top
#6 Which banks’ points / miles never expire?
|
Credit card
|
Expiry
|
|
DBS Woman’s World
|
1 year
|
|
DBS Altitude
|
Never
|
|
Citibank Rewards
|
Every 5 years
|
|
Citibank Prestige
|
Never
|
|
Citibank PremierMiles
|
Never
|
|
UOB PRVI Miles
|
2 years
|
|
UOB Visa Signature
|
|
|
UOB Lady’s
|
|
|
UOB Preferred Platinum Visa (PPV)
|
|
|
HSBC Revolution
|
37 months
|
|
OCBC Titanium Blue & Pink
|
2 years
|
|
OCBC 90ºN
|
Never
|
|
Maybank Horizon Visa Signature
|
1 year
|
|
Standard Chartered Smart
|
Every 3 years
|
|
American Express Platinum Charge
|
Never
|
#7 What’s the difference between statement month & calendar month?
Your credit card’s billing date can either follow a statement month system or calendar month system. Knowing when your credit card statement period resets is crucial to keeping track of your card’s spend limit or earn rate cap.
Between the two systems, calendar month is more direct.
Calendar month refers to the billing date following the period of a full month (e.g. 1 to 31 March).
Conversely, statement month refers to the billing date following the month upon card activation. For example, if your credit card was activated on the 5th of this month, the billing period lasts until the 4th of the next month.
#8 What are foreign transaction (FX) / foreign currency (FCY) fees?
They’re essentially the same thing.
Foreign transaction (FX) / foreign currency (FCY) fees refer to the foreign currency charge imposed by banks on your Singapore-issued credit card when purchasing something in non-SGD. This figure ranges between 2.5% to 3.5%.
Typically, card transactions effected in USD will be converted into SGD. Meanwhile, card transactions effected in other foreign currencies will have to be converted to USD first, and then to SGD.
However, there are exceptions for AUD where Visa cards (like Standard Chartered Visa Infinite Card) will convert AUD into SGD directly.
#9 What are currency conversion fees?
Currency conversion fees refer to the additional charge imposed by credit card payment processors like Visa, MasterCard, or American Express (AMEX) to convert your purchase from foreign currency to your card’s local currency.
Visa and MasterCard typically charge 1%, whereas AMEX charges between 2.5% to 2.7%, depending on personal or corporate cards.
#10 I want to use my air miles card to redeem flights / upgrade my cabin class. Is it still worth it?
It depends on how much you value a mile.
In general, a mile is valued at 1.4 cents to 1.8 cents on average. Essentially, buying miles for anywhere under 2 cents will be considered an acceptable rate.
This value will vary depending on how much you acquire your miles through direct purchase and what you redeem your miles for.
Purchasing miles directly typically costs between 1 cent to 2 cents per mile (CPM).
🍙🇯🇵🍜 For my fellow Japan-loving Singaporeans, here’s an example of a round-trip ticket to Tokyo via Singapore Airlines in January 2023:
|
SIA Flight from SG to Tokyo (Jan 2023)
|
Economy
|
Premium Economy
|
Business
|
Suites/First
|
|
Base fare
|
S$1,566
|
S$2,822
|
S$4,503
|
S$5,446
|
|
Miles needed for ticket redemption
|
Economy Saver: 54,000
Economy Advantage: 90,000 |
Economy Saver: 75,000
|
Business Saver: 104,000
Business Advantage: 140,000 |
First Saver: 154,000
First Advantage: 240,000 |
|
Estimated CPM (incl. tax) per cabin class
|
Economy Saver: 2.9 cents / mile
Economy Advantage: 1.74 cents / mile |
Economy Saver: 3.76 cents / mile
|
Business Saver: 4.32 cents / mile
Business Advantage: 3.22 cents / mile |
First Saver: 3.53 cents / mile
First Advantage: 2.27 cents / mile |
|
Incremental %
|
–
|
Airfare: +80%
CPM: +29% |
Airfare: +59%
CPM: +14% |
Airfare: +21%
CPM: -19% (Saver) -30% (Advantage) |
As you can see, the airfare and CPM from Economy to Business Class on Singapore Airlines got pricier with every tier, albeit following a downward trend.
It was only at the Suites or First Class tier that the estimated CPM became relatively cheaper, making it the most “worthwhile” class to redeem your miles with. However, also take note that none of the CPM was below 2 cents.
So relative to all the cabin classes, redeeming your miles for the Suite/First Class would be the most “worth it”. But considering that all the CPM were more than 2 cents, would you have been better off saving your miles redemption for something else?
See also: How Do You Value an Air Mile?
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#11 I want to use my air miles card to earn miles on overseas spending, but I’m charged an FCY fee on all foreign currency purchases. Is it still worth it?
Apart from accounting for cost per mile (CPM) and what you redeem your miles for, your miles card’s FCY fee also matters here.
By comparing your CPM acquisition versus your card’s FCY fee (2.5% – 3.5%), you can calculate the cost difference between the hypothetical CPM versus actual CPM attained through your miles card.
Our article below elucidates the cost breakdown in greater detail, so do click the link below to read!
See also: Should I Use Credit Cards Overseas to Earn Miles?
#12 Is it worth paying my air miles card’s annual fee to earn the renewal miles bonus?
No, annual fees aren’t exactly the cost-effective way to earn miles. There are cheaper methods to buy miles as a byproduct such as topping up your account with any bill payment service like CardUp and StanChart EasyBill.
The cost per mile (CPM) of “buying miles” by paying your card’s annual fee is usually not as worth as earning miles “as a byproduct” from other credit card activities.
See also: When Does it Make Sense to Pay Credit Card Annual Fee?
#13 How to avoid paying my credit card’s annual fee?
Check out our comprehensive fee waiver guide to know how to request for every bank!
#14 How to connect GIRO to automate credit card bill payments?
GIRO — or General Interbank Recurring Order — is an electronic direct debit mechanism for billing organisations to facilitate automated direct transfers between bank accounts on customers’ behalf.
All you need is a bank account to set up your GIRO account and ensure your bank has a partnership with the billing organisation.
Simply follow your bank’s instructions on their respective websites to set up and begin automating your credit card bill payment. You’ll never have to worry about missing your bill due date ever again.
#15 Is there any early cancellation fee for credit cards?
Most banks don’t impose an early cancellation fee for credit cards. However, do check your card’s terms & conditions for the most accurate information.
But, cancelling your credit card without clearing your outstanding balance (including all pending charges) will lower your credit score.
Bottom line is, always fully pay off your balance, request your credit balance back, and redeem any rewards with your accumulated points and miles before you bid farewell to your credit card.
Read more:
Can Cancelling a Credit Card Have Detrimental Effects?
Reasons to Cancel Credit Card and How to Do Just That
Conclusion
As the adage goes, “Different strokes for different folks”. There is no one-size-fits-all credit card strategy out there.
Whether a credit card strategy is appropriate or right for you depends largely on your expenditure habits, goals, and preferences.
We can only offer general suggestions in credit card strategies for various spend purposes, but other than that, you’d still have to do a yearly financial self-assessment. That will help you to re-align what financial goals you want to achieve for 2023 and how credit cards will fit into the picture.
📚 Remember to bookmark this ultimate credit card guide page for easy reference in the future! 😉
Read these next:
Best Cashback Cards in Singapore (2023)
Best Rewards Cards in Singapore (2023)
Best Air Miles Cards in Singapore (2023)
5 Credit Cards That Will Save You the Most Money in 2023
Ultimate Credit Card & Savings Account Combo: Earn Up to S$1,095 Cashback Annually
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