If you tend to spend between S$1,000 to S$2,000 each month in foreign currency (do note this includes foreign currencies at merchants with payment gateway in Singapore), you can easily earn up to 4 miles per S$1 (or 5% rebate) each month. The UOB Visa Signature is not a card that is often being mentioned but yet it is one of the rare few cards in the market that gives you 4 miles per S$1 (even online transactions!) which is issued in UOB UNI$ (similar to other UOB credit cards) that you can redeem for miles or cash back (effectively 5%). Find out how you can fully maximise the benefits below:
1. Spend in Foreign Currency
If you shop on a bunch of online websites, travel from outside of Singapore or even swipe your credit card overseas, you can potentially earn the maximum rebate and miles on this card. Do remember that in order to even qualify for 4 miles per dollar or 5% cash back, a minimum spend of S$1,000 in FOREIGN currency is required.
2. Tap and Go (Visa payWave) and Petrol
Holders of the UOB Visa Signature Card will also earn 4 miles per S$1 (or 5% cash back) on Visa payWave and Petrol transactions when a LOCAL spend of S$1,000 is met (per statement period). Do note that all SMART$ merchants are excluded from this - even if it is a petrol of Visa payWave transaction.
3. Spend Below S$2,000 in Foreign Currency a Month
Well, technically you can but any foreign currency spend above S$2,000 will only give you an effective mile accrual rate of 0.4 miles per S$1 (or 0.5% cash back). So for your own benefit, stop at S$2,000.
The UOB Visa Signature Card is perfect for people who are confident of spending S$1,000 to S$2,000 in foreign currency per statement period. Keeping in the mind the list of exclusions for online transactions, I gather that it is a lot easier to use it if you physically swipe it overseas. If you travel for business and book the flexible rate - you will usually only settle the bill at the end of the stay (just remember to pay in the local non-SGD currency). Do consider the DBS Altitude Visa Signature Card for 3 miles per S$1 for overseas spend if you are spending S$2,000 to S$3,000 a month in foreign currency instead.
The HSBC Advance Visa Platinum Credit Card is dead (for mile-chasers anyway) and it will become a cashback card soon - the 4 miles per dollar promotion will end officially on 31 May 2017 and you will only earn 1X (0.4 miles per dollar) Rewards point with eligible dollar spent in the month of June 2017. You will have to redeem all your Reward points by 31 August 2017 or they will be converted into cashback on 01 September 2017 at a 100 Reward points to $0.25 rate.
The new UOB Rewards portal is beautiful and it is a huge step-up from the older UOB Rewards Plus portal. While trying to redeem some KrisFlyer Miles however, I realised that the new portal only allows you to redeem up to a maximum of 9 units - obviously with a per-transaction fee of S$25, I would want to maximise the number of miles that I am redeeming for to suit my travel requirements.
In order to help everyone keep track of the discontinuation and extension of credit card promotions in Singapore, I will be posting a series of summaries every couple of months. These summaries will basically tell you which mile-related promotions have been extended and which credit cards to ditch - no I will not be tracking dining or shopping promotions.
The ANZ Travel Visa Signature Credit Card was one of my favourite credit cards in Singapore when I first starting working - it once offered complimentary and unlimited lounge access, limousine transfer after spending a reasonable amount and paying the annual fees (S$200) for 10,000 miles seem to be pretty reasonable. Starting from 01 April 2017 however, the ANZ Travel Visa Signature Credit Card will no longer offer lounge access (yes not even the horrible DragonPass Airport lounge access) and there will no longer be anymore renewal miles when you pay the annual fee - how is this even a travel card anymore?!
When I wrote about the OCBC VOYAGE Card last month, I mentioned that cardholders will have access to a dedicated concierge that can assist you in making restaurant reservations, travel itinerary planning and also provide to you a range of other services (so long it is legal!) that cardholders like myself can enjoy. One of the feedback that I have gotten from that article was that the Visa Infinite brand itself has a concierge that cardholders can benefit from - as such, I felt the desperate need to basically compare both the Visa Infinite Concierge and the VOYAGE Exchange (private concierge service for OCBC VOYAGE Card) to find out whether or not the higher annual fee (after factoring in the value of renewal miles) is justified.
I have written a number of articles on which credit card to get in Singapore in order to maximise miles accrual and I have always deliberately excluded the HSBC Advance Visa Platinum Credit Card because of the conditions required to get this card (it is not just about the annual income requirement). More importantly, the 10X HSBC Rewards Points promotion was supposed to end last year but it has been extended until 31 March 2017.
Having the right credit card in Singapore is extremely important if you travel quite a bit - it can help you rake up significant miles which you can use for free premium cabin travel and some of the credit cards actually have tangible travel benefits like free airport lounge access and limousine transfer amongst other things. There are two main types of credit cards in Singapore that offer complimentary airport lounge access - one requires a minimum spend and one does not. Check out my summary of credit cards in Singapore that offer complimentary lounge access below!
The OCBC VOYAGE Card allows you to earn up to 2.3 VOYAGE Miles (redeemable for KrisFlyer Miles) per S$1 and it offers some pretty impressive benefits like a personal concierge service, unlimited access to Plaza Premium Lounges and other Visa Infinite perks. Is this card worth its S$488 annual fee? Find out everything you need to know about maximising the benefits on the OCBC VOYAGE Card.
If you have seen my complete list of credit card renewal miles in Singapore, you would have noticed that the UOB Reserve Card offers 100,000 renewal miles each year. One of the ways to get invited for this exclusive credit card is to be a UOB Privilege Reserve Client with S$2,000,000 in deposits/investments with the bank. Not much is known about this card until now - find out what the benefits of this ultra-elite card is.
The Citi Rewards Card is one of the best Singapore credit card (in my opinion) to have in 2017. When you charge the right type of transaction to this credit card, you can earn up to 10X Citi Dollars (equivalent to 4 miles per S$1). While there are ways to verify whether or not a transaction will earn you 10X points thanks for crowd-sourcing, I recently realised that you can check on the number of points awarded per transaction (after it has been posted) which really helps to verify and mitigate some risk in those large purchases.