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Originally Posted by rakso79
(Post 24677109)
It's not as subjective as that.
I remember I ended up valuing miles at best as a 1% rebate for economy seats and at best 5% for business. A 5% rebate should be really, really hard to beat and you may be overvaluing your miles if you think you are beating it. The value increases as the taxes/fees portion of the ticket becomes smaller relative to the overall price. Hence Business/First/Suites Long-Haul are the best value. Generally I get between 4 and 6 cents value for each mile. If I am earning more than 1 mile per $ then for me I'll get better value overall from miles than from a cashback card. |
Originally Posted by AddictedTraveller
(Post 24677614)
Generally I get between 4 and 6 cents value for each mile. If I am earning more than 1 mile per $ then for me I'll get better value overall from miles than from a cashback card.
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Originally Posted by rakso79
(Post 24676169)
I'm confused... UOB PRVI Miles gives the highest miles per S$, but there seems to be negative feedback on this thread.
So is it worth getting a UOB PRVI Miles card, or should you stick with DBS Altitude? And is the Mastercard PRVI Miles supposed to be the best miles card since it's not an Amex? Someone commented that UOB Amex still gives credit for Ezlink top-up so if you got that one just go ahead. |
Originally Posted by rakso79
(Post 24676303)
Question about DBS Altitude cards...
Should I spend S$800 on the Altitude Visa to get the 12,000 promo miles (plus 2,000 for getting the card via online banking) or just not use the Altitude Visa? There is a S$42.80 annual charge to convert miles so it will be a bit expensive for such a small miles bonus. I can spend the S$800 on my existing Altitude Amex and just redeem the miles in one go before I cut the lousy DBS card and apply for new cards. S$800 at 1.6 miles from the UOB PRVI Miles is only 1,280 miles, so does the math support spending S$800 on the DBS Altitude Visa then stop using the card? With this promo I would sign up for DBS Altitude Visa in heartbeat if I didn't have it already. |
Originally Posted by rakso79
(Post 24676570)
... the strong cash rebate credit cards available now, since a 5% cash rebate or a large discount on a purchase you would have made anyway beats even 10x promos of UOB Preferred Platinum Visa or Citi Rewards.
Example, I just redeemed 102k miles for 2x one-way Suites to Tokyo (List price fare is $4830x2 = $9,660). Assuming Citi 1.2miles per $, I spent $85k and got flights worth $9,660, representing 11.3% "cash back." But wait, you say, how can you consider the award flights at full value? You should, at most, value them at (insert arbitrary value here) because (insert any variety of reasons here). And you wouldn't be wrong. Maybe you would value those flights at $1,000 each, so you'd only be getting 2.4% of value back which totally sucks compared to 5% cash back. |
Originally Posted by rakso79
(Post 24677661)
What percentage of cashback would make it worth it for you, say if we use Singapore Airlines business class flights from Singapore to London as a benchmark?
The same itinerary bought with cash would cost 7,416.90 SGD (for travel in Aug 2015). In this case, 136,000 KF miles offset 6,550 SGD of airfare or one mile offsets 4.8 SGD cents of airfare. Let's assume that I earn all my miles through UOB Preferred Platinum Visa on transactions which earn 10X UNI$ per dollar spent (= 4 KF miles per dollar). If I value the flights at its actual cost, I am getting back at least 19.2% return per dollar spent (4*4.8), almost 4 times the 5% cash back offered by ANZ Optimum. However, I am not willing to pay 7.4k SGD for a return business class flight to LHR. I am only willing to pay for the cheapest business class ticket available. MH charges 3,765 SGD for a return J trip between SIN and LHR (via KUL) and I am willing to pay that amount. Using the same method of calculation, 136,000 KF miles offset 2,898 SGD of airfare or 1 KF mile offsets 2.1 SGD cents of airfare. Using UOB Preferred Platinum Visa as the example again, my return would be 8.4% (2.1*4), still better than the 5% cash back offered by ANZ Optimum. Ultimately, as shuigao pointed out, if one's valuation for J redemption is only 1,000 SGD, 5% cash back is a much better deal. My valuation of the miles is similar to AddictedTraveller; I will probably look into rebates cards if they are offering >10% cash back (unlikely to happen). |
Originally Posted by rakso79
(Post 24676570)
Could you critique my target list of credit cards?
1. UOB PRVI Miles Mastercard - default card for 8 miles/S$5 local and 12.5 miles/S$5 overseas spend 2. OCBC 365 - 6% cashback for weekend dining, 3% cashback for weekday dining, groceries and phone bill, minimum spend of S$600/month and maximum cashback of S$80/month (S$1,333/month of weekend dining) 3. ANZ Optimum World Mastercard - 5% cashback for selected category (travel, shopping or dining), 1% cashback for other spend 4. UOB Preferred Platinum Visa - 10 UNI$ or 40 miles/5S$ for online purchases and Visa payWave transactions 5. American Express Platinum - 50% off meals for two in certain restaurants in Singapore's city center 6. OCBC Arts - discounts from specific performances on Sistic (though the current list of covered shows is underwhelming) I'm a single guy and my biggest regular spends are eating out and buying books. Next comes travel, then big one-time purchases (clothes, gadgets, etc.). I think the Wiki might need to be updated for the strong cash rebate credit cards available now, since a 5% cash rebate or a large discount on a purchase you would have made anyway beats even 10x promos of UOB Preferred Platinum Visa or Citi Rewards. (Too bad Standard Chartered's Manhattan card went down from 5% to 3% cashback.) A large part of my one-time spending does not actually go to normal stores. I get most of my clothes tailored and buy a lot of things from eBay and smaller online merchants. Does anyone know how tailors, eBay and one-man online stores count for credit card rebates and other promos? Is there any way to get credit card rebates or points from Paypal transactions? Any tweaks you would make to this list? For example, would the UOB Preferred Platinum Visa be less useful if you plan to assign big purchases to a cash rebate credit card? |
Originally Posted by AddictedTraveller
(Post 24676915)
Of course cash is king.
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Originally Posted by rakso79
(Post 24677109)
I remember I ended up valuing miles at best as a 1% rebate for economy seats and at best 5% for business. A 5% rebate should be really, really hard to beat and you may be overvaluing your miles if you think you are beating it. |
UOB AE card is the best for KF miles?
UOB AE card is the best for KF miles?
Earn 2.5 KrisFlyer mile for every S$1 spent on all your purchases abroad or is there any other better credit card for KF miles I spend a lot of time in Australia |
UOB Tragedy
*Please note that the rewards earn rate will be revised to 2.4 miles for
every $1 overseas spend and 1.4 miles for very $1 local spend, effective from 15 May 2015. is there a better card to earn KF miles? seems not? |
Please note that UOB will be revising the miles earning rates for both its PRIV Miles AMEX and PRIV Miles Mastercard wef 15 May 2015 as follows:
- 2.4 miles for every $1 overseas spend - 1.4 miles for every $1 local spend More details available at its websites: UOB PRIV Miles Mastercard UOB PRIV Miles AMEX Card |
Originally Posted by hclee01
(Post 24680249)
Please note that UOB will be revising the miles earning rates for both its PRIV Miles AMEX and PRIV Miles Mastercard wef 15 May 2015 as follows:
- 2.4 miles for every $1 overseas spend - 1.4 miles for every $1 local spend More details available at its websites: UOB PRIV Miles Mastercard UOB PRIV Miles AMEX Card If it is, this is typical UOB bait-and-switch... |
OMG!! That's bad news!!
ANZ Travel Card is still better than UOB PRVI Miles because there is S$5 rounding off and 3.5xUNI$ rounding off!! If you charge S$5, ANZ gives you 7 miles, but UOB PRVI gives you 6 miles!! PRVI Miles is only good for overseas transactions wef 15 May 2015!! Now let's see when UOB will change the earning rate for 10x UNI$ with Preferred Platinum AMEX and Preferred Platinum VISA!! |
Originally Posted by vsepr
(Post 24681881)
Now let's see when UOB will change the earning rate for 10x UNI$ with Preferred Platinum AMEX and Preferred Platinum VISA!!
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