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 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$1). While there are ways to verify whether or not a transaction will earn you 10X points thanks for crowd-sourcing, I recently realised that you can check on the number of points awarded per transaction (after it has been posted) which really helps to verify and mitigate some risk in those large purchases.
There are no lack of elite credit cards in the Singapore market but let's face it - the regular one for the masses are the ones with the best benefits in terms of mile accrual. Of course there are some exceptions (i.e. using a Centurion Card on EXTRA Partners) but most of the best cards for mile accrual in Singapore are credit cards that most working Singaporean adult can qualify for. With that being said, there may be instances where people cannot qualify for the credit card they want and there may be many different reasons like bad credit score or insufficient annual income. One way around this is to apply for a secured credit card instead as this will provide you access to a card you really want (even if you do not meet the general criteria for it!).
If you saw my article last week on the credit cards to get in 2017, you would have (and should have!) noticed a new addition - the OCBC Titanium Rewards Card. Let's be honest here, OCBC has not been on the list of credit cards to get (for mile accrual) in the last couple of years. So when I found out that the OCBC Titanium Rewards Card now gives up to 10X OCBC$ (which translates into 4 miles per dollar), I had to check it out for myself. My conclusion? This could very well be OCBC's best credit card in the market right now for mile chasers.
As 2016 comes to an end, it is important to look ahead in the new year and plan for your mileage accrual (and redemption!) next year. Miles are worth a lot - especially when you use them wisely and redeem them in premium cabin classes. Obviously, there are people in the market that prefers cash backs over miles for instant gratification and sometimes I feel like no amount of convincing can sway them over but in all honestly, we need them. We can't have the whole Singapore fighting to redeem those premium cabin seats all at once! So here it is, the list of the best credit cards in Singapore to get in order to earn maximum miles.
I knew I had to share this piece of news the moment I saw it - not because American Express is ranked number 1 again in the 2016 Singapore Credit Card Satisfaction Study but because it has been quantified and how often do you actually see a press release with a graph?! According to the study, the overall satisfaction index ranking is based on a 1,000-point scale and American Express has come up on top with 738 points, beating the study average by 41 points.
As part of The Great Singapore Airlines Getaway, American Express Cardholders who are amongst the first 1,000 to register for the following promotion will enjoy S$50 Statement Credit for simply spending S$1,500 on Singapore Airlines during September 2016.
If you follow The Shutterwhale on Facebook, you should have seen my rant this morning on the changes to the ANZ Travel Visa Signature Credit Card's unlimited Airport Lounge benefit that came into effect this morning. One of the last few benefits of this card used to be the unlimited access to Veloce lounges all over the world but now that has been taken away and been replaced with a conditional DragonPass access instead.
Even though I have had a terrible first experience with uberPOOL, it has improved ever since then and my trips seem to take only 10 minutes extra on average (which to me is very reasonable). Uber Singapore has just announced that uberX rides are now fixed rates so essentially what you see is what you pay - well the banks still charge a cross border fee of 0.8% (which is not controlled by Uber) so you still need to slap on that 0.8% fee to get what is being charged on your credit card statement.
I was reading the news earlier this morning and I chanced upon the newly released American Express Explorer Credit Card in Australia. Before anyone in Singapore gets super excited, we are not sure at this moment whether or not it will be made available to us here in the Lion City but just take a look at that card!
The Citibank Rewards Card is one of my favourite credit cards in Singapore - it offers up to 10X Rewards (equivalent to 4 miles per S$1) for up to S$12,000 each year. Yes, this means that the total number of bonus miles (10X) you can get each year from this card is 120,000 Citi Dollars (which converts into 48,000 Miles). To get around this problem, most of us hold both the Visa Signature and WORLD MasterCard versions to double this limit (you do have to charge them separately though). Between now and 31 October 2016, enjoy 20X Rewards (that's 8 miles per S$1) when you charge retail purchases on these two cards.