Read the latest news about Air Miles Credit Cards in Singapore and the best money saving tips.
What do you get from paying the annual fee?
Some credit cards reward you with miles for paying your annual fee. For example, you can receive 10,000 miles when you renew your OCBC 90°N card and pay the annual fee of S$192.60. There are also credit cards, such as the Citi PremierMiles and Standard Chartered X card, that pair the annual fee payment with a spend goal to earn bonus miles.
Is it more worthwhile to ask for an annual fee waiver or claim my miles?
This would depend on how much you think a mile is worth and whether you are comfortable choosing to pay the fee rather than opting for a fee waiver. For example, if paying the annual fee of S$192.60 earns you 10,000 miles, this would mean that the cost of every mile is about 2 cents.
You can read this article to find out when it makes sense to pay your credit card annual fee.
Are there any other benefits to paying the annual fee?
Many premium credit cards require you to pay the annual fee. This entitles you to the perks offered by the premium credit card, such as higher miles earn rate, stays at luxury hotels, complimentary lounge visits, airport transfers etc.
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What features should I look out for when choosing a miles credit card?
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Do I have to pay when I convert my credit card points to miles?
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