While some of us have been grieving over the impending changes to the OCBC Frank Credit Card (wef 01 October 2015), many of us have started looking for substitutes. To be honest, while the requirement of S$400 on offline retail spend has put a lot of people off, the OCBC Frank Credit Card is still quite a decent card to have if you do spend a bit of money at cinemas, bars, clubs, KTVs and selected cafes on weekends. However, if you are looking for a credit card that gives you maximum online rebates (with its own set of terms and conditions of course), you might wish to consider the next one instead.
See how happy the girl above is with her new (presumably online) camera purchase? Well, assuming that the camera costed somewhere between $600 to S$857, the lady with her Standard Chartered SingPost Platinum Visa Credit Card, has actually gotten 7% cash back on her online purchase (no wonder she's grinning from ear to ear!). Here's why you should consider the Standard Chartered (SCB) SingPost Platinum Visa Credit Card:
1. 7% Cash Back on Eligible Online Purchases (up to S$60 a month)
If you meet the S$600 minimum spending (per month) on the SCB SingPost Platinum Visa Credit Card, you will enjoy 7% cash back on all eligible online purchases. While there is a list of exclusion (as with every other card in the market), you will essentially be able to earn up to S$60 rebates each month on each principal account. If you use this credit card solely for eligible online purchases, this means that you need to spend between S$600 and S$857.14 to earn between S$42 to S$60 of cash back each month.
2. All Online Spend goes towards Satisfying the Minimum Spend
It is not uncommon for a credit card to have a monthly minimum spend before the maximum rebates are issued. For the SCB SingPost Platinum Visa Credit Card, you will have to charge at least S$600 to your card (on a monthly basis) before 7% cash back on all eligible online purchases will be awarded. The best part about this is that you can use this card predominantly for online purchases - there is no offline spending requirement at all.
The Standard Chartered SingPost Platinum Visa Credit Card is a great substitute to the OCBC Frank Credit Card if and only if you are looking for a credit card that is great for online spend only. Sure you may get 2% back in rebates by spending on groceries but the ANZ Optimum World MasterCard gives you 5% instead. The only catch with the Standard Chartered SingPost Platinum Visa Credit Card is the S$600 minimum spending each month that is worth mentioning.
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.