Why do you think the Cyprus version is much less attractive? Last year, I collected 250k miles with my Visa card. This is because they give i mile per € spent, with 2 miles per € for Aegean flights and Hellenic duty free purchases. On top of this, they have frequent double miles promotions like between August 15 and September 15 this year. Miles are also awarded for all spending including paying government taxes. And if you deposit €15,000 for one year (withdrawals possible every 3 months), you get 10k miles per year plus 1.5% interest. Moreover, you do not need to have a tax number to set up an account although there are strict Alpha Bank money laundering restrictions in place for anyone who wants to use the card extensively.