Just found out from a friend of mine living in JB that Maybank (Malaysia) has some seemingly amazing accrual rates.
Maybank Visa Infinite
- 2 TreatsPoints for every RM1 spend locally
- 5 TreatsPoints for every RM1 spend overseas
- TreatsPoints can be converted to Enrich Miles (MAS) or KrisFlyer Miles (Singapore Airlines) at a low conversion rate. 4,500 TP = 1,000 Air Miles
Doing the math
Spend in MY: SGD 1.00 = RM2.80 = 5.6 TreatsPoints = 1.24 Miles
Spend in SG: SGD 1.00 = RM2.80 = 14 TreatsPoints = 3.11 Miles
So a Singapore resident could theoretically hop across the border to JB, apply for this card, swipe all his "local" transactions in SG and get a steady 3+ miles per S$ (subject to rounding and of course a 1-2% FX loss).
Am I missing something here?