Oct 31, 2014, 6:05 am
Last edit by: lifeonthego_k
I'm going to update this first post as more info flows in to create a 'master list' of all credit cards that offer a decent way of accruing miles - so please help out!
If you know of and/or use any other cards (or the ones already mentioned), please share your thoughts.
***ALL VALUES BELOW IN SINGAPORE DOLLARS (SGD)***
============
In no particular order (apart from personal preference in terms of good-mileage opportunities):
============
1. UOB PRVI Miles VISA, MasterCard, AMEX
VISA:
http://www.uob.com.sg/personal/cards...iles_visa.html
MasterCard:
http://www.uob.com.sg/personal/cards...astercard.html
Amex:
http://www.uob.com.sg/personal/cards...amex_card.html
http://www.uob.com.sg/personal/cards...ard/microsite/
Mileage accrual:
The earn rate will be 1.4 miles for every $1 spent in multiples of S$10 (every multiple of S$5 gives 6 to 7 miles due to 3.5 UNI$ rounding off, every S$10 gives 14 miles), and 2.4 miles for every $1 spent OVERSEAS (every $5 gives 12 miles).
Requirements: min. income $80,000 (not strict).
Cost: First year free, then S$256.80 for main, first two supplementary always free. Annual fee waiver for Amex card if you charge $50,000 or more in a year.
Miles conversion fee: $25 per conversion. UNI$ are combined in 1 cardholder's name/FIN Number/NRIC together for all UOB cards which earn UNI$.
Pros: Best mileage accrual rates for overseas spend only. 20,000 bonus miles and annual fee waiver with spend of $50,000 per year (both only for Amex card). $45 1-way airport transfer voucher for $1,000 overseas spend in a given quarter (Amex only).
Cons: AMEX not always accepted by merchants. Points allocated on every $5 spent, rounded down to next $5. Transfer in blocks of 5000 UNI$ points = 10,000 miles. Points are valid for 2 years (transfer before expiry and they will subsequently be valid for a further 3 years from the date of transfer to KrisFlyer).
2. UOB Preferred Platinum Visa
http://www.uob.com.sg/personal/cards..._platinum.html
http://www.uob.com.sg/personal/cards...visa_card.html
Mileage accrual: Earn 4 miles for every $1 spent using ONLY MOBILE CONTACTLESS every $5 gives 10 UNI$ which equal 20 miles). Same incredible mileage-earning ratio for internet shopping with certain restrictions (travel-related, utilities, etc.). Earn 0.4 mile for every $1 for regular, signature-based payments AND ORPHAN SPEND DUE TO $5 ROUNDING OR EXCEEDING THE BONUS U$2000 SPEND (every $5 gives 1 UNI$ which equal 2 miles).
Earning 4 miles/$ is limited to the first S$1110 spent during the per calendar month (via Mobile Contactless). 2,000UNI$ refers to the extra 9UNI$ and does not include the normal 1UNI$.(Stop when you notice you earn 3UNI$ (1 + bonus 2) for the last S$5 transaction. ($1110/5)x9=1998UNI$, hence the last S$5 transaction will earn 2 bonus UNI$. The total bonus UNI$ awarded to you from qualifying spend on Selected Online Transactions and Mobile Contactless Transactions is capped at UNI$2,000 for each calendar month. THE CAP IS ON THE 9 UNI$ BONUS NOT 10UNI$ TOTAL YOU GET WITH BASE OF U$1 PER $ SPEND
Keep in mind that some merchants offer different, non-mileage accruing awards with UOB cards which are called SMART$. Some popular merchants include Cold Storage, Guardian and Giant Supermarket, ToastBox and Starbucks. A full list of merchants where Mobile contactless transactions will NOT earn miles can be found here: http://www.uob.com.sg/personal/cards...smartclub.html
Requirements: min. income $30,000 ($60,000 for foreigners).
Cost: First year free, then $192.60 for main and $96.30 for supplementary. Annual fee waived off easily.
Miles conversion fee: $25 per conversion, in blocks of 5000 UNI$=10,000 miles. UNI$ are combined in 1 cardholder's name for all UOB cards.
Pros: Incredible mileage accrual rates for Paywave transactions (not all merchants - some give SMART$ instead which are different rewards!) as well as internet transactions (some restrictions apply).
Cons: Points allocated on every $5 spent, rounded down to next $5. Transfer in blocks of 5000 UNI$ points = 10,000 miles. Points are valid for 2 years (transfer before expiry and they will subsequently be valid for a further 3 years from the date of transfer to KrisFlyer).
3. Citi PremierMiles MasterCard
https://www.citibank.com.sg/credit-cards/travel/premiermiles-card/?ecid=PSGONSGCCAENPM
Mileage accrual: Earn 1.2 miles for every $1 spent. Earn 2 miles for every $1 spent OVERSEAS. 10,000 bonus miles for each annual membership renewal.
Requirements: min. income $50,000 for VISA. Principal cardholder must be at least 21 years of age.
Cost: First year free, then $192.60 for VISA main, supplementary always free. Annual fee waiver available in exchange for forfeiting the 10,000renewal bonus.
Miles conversion fee: $25 per conversion.
Pros: Decent all-rounder, good for overseas spend. Points never expire. Bonus miles for annual card renewal. 11 frequent flyer programs & 3 hotel programs to choose from, including EVA Air - only 25,000 miles for 1 way Business Class within Asia!!
Cons: No miles awarded for EZ-Link & Transitlink transactions. Miles awarded per S$1. Cents not included. 1.2 miles/S$1. Transfer in blocks of 10,000 miles.
4. DBS Altitude VISA/AMEX
http://www.dbs.com/sg/personal/cards...e/default.aspx
http://www.dbs.com/sg/personal/cards...e/default.aspx
Mileage accrual: Earn 1.2 miles for every $1 spent (every $5 gives 3 DBS points which equal 6 miles). Earn 2 miles for every $1 spent OVERSEAS.
Requirements: min. income $80,000.
Cost: First year free, then $180 for main and $90 for supplementary. Annual fee waiver if you charge $25,000 or more in a year.
Miles conversion fee: S$26.75 per transfer, redeem 1700 DBS points to waive off.
Pros: Points never expire. No rounding down transaction amount to nearest $5 (calculation is done as follows: DBS points = 'transaction amount' divided by 5, multiply by 3, after that round down to nearest whole number. Minimum spend is S$1.67. Each DBS point = 2 miles). Earn 3 miles per S$1 spent on all online Flight and Hotel transactions (capped at S$5,000 per month). 10,000 miles renewal bonus if you have to pay card renewal fees.
Cons: All local spend now down to 1.2 miles/$ (since Dec 1, 2013). AMEX not always accepted by merchants. Transfer in blocks of 5000 DBS points = 10,000 miles (on the plus side points don't expire). Per transfer of S$26.75, redeem 1700 DBS points to waive off.
5. Maybank Horizon Platinum Visa
http://info.maybank2u.com.sg/persona...visa-card.aspx
Earn 3.2 air miles (8X TREATS Points) with every dollar spent on dining, petrol, taxi fares and hotel bookings at Agoda.com/horizon
Earn 2 air miles (5X TREATS Points) with every dollar spent on air tickets, travel packages and foreign currency transactions, with a minimal S$300 in a calendar month
Earn 0.4 mile for every $1 spent elsewhere (1 mile for every $2.50 spent).
Requirements: min. income $30,000 ($80,000 for foreigners).
Cost: $150 for main, supplementary always free. Unsure of any annual fee waiver conditions.
Miles conversion fee: In blocks of 5,000 points to 2000 Asia Miles or KrisFlyer. S$26.75 fee applies.
Pros: Great for ticket purchases and overseas spend. Complimentary access to selected VIP airport lounges when you charge a minimum of S$400 in a single transaction on air tickets or travel packages to your Card 3 months prior to the date of travel.
Cons: Great ONLY for ticket purchases and overseas spend. Points are valid for 1 year only, expire either on 30 June or 31 December of the same year if not Rewards Infinite member.
6. Singapore Airlines KrisFlyer Ascend AMEX
https://www.americanexpress.com/sg/s...nd-credit-card
Mileage accrual: Earn 1.2 KrisFlyer miles for every S$1 spent on all your eligible purchases with your Card
Earn 2 KrisFlyer miles for every S$1 equivalent in foreign currency spent overseas on eligible purchases during June and December
Requirements: min. income $50,000 ($60,000 for foreigners). Principal cardholder must be over 21 years of age.
Cost: First year free, otherwise $256.80 for main, 2 supplementary cards always free (more available at $80.25 each). Annual fee cannot be waived unless you spend alot.
Miles conversion fee: None - your KrisFlyer miles are transferred to your account directly with no conversion fees or charges.
Pros: None, except for welcome offers (4 complimentary airport lounge access vouchers, one complimentary night with Millennium Hotels and Resorts).
Cons: Simply nothing special - there are better cards available for all types of purchases, including flight tickets, even with all of the bonuses above applied. AMEX not always accepted by merchants.
7. Citibank Rewards Card
http://www.citibank.com.sg/gcb/credi...CACRENCCHOCALM
Earn 10X Rewards (10 Rewards Points or 4 Miles for every S$1 spent) when you shop for clothes, bags and shoes or at departmental stores or online shopping websites, including SingTel & M1 online bill payment!
Pros: Transfer to 11 FFPs & 3 Hotel programs in blocks of 25,000 points=10,000 miles; S$25 fee.
Cons: Points awarded per S$1 spend. Cents not included. Cannot combined Thank You Points across cards.
8. DBS Woman's World MasterCard® Card
http://www.dbs.com.sg/personal/cards...astercard-card
10X Rewards for Online Retail Purchases
T&C Here: https://www.dbs.com.sg/iwov-resource...s_card_tnc.pdf
Pros: Men also can get this card!! DBS points are combined in 1 cardholder's name. No rounding down transaction amount to nearest $5 (calculation is done as follows: DBS points = 'transaction amount' divided by 5, multiply by 10, after that round down to nearest whole number. Minimum spend is S$1. Each DBS point = 2 miles).
Cons: DBS points are valid for 1 year based on card anniversary date. The additional 9X DBS Points for online retail spend in a calendar month will be awarded on the 16th of the next calendar month. If the above days are not working days, the Points will be awarded on the next working day. The additional 9X DBS Points are only applicable to the first S$2,000 online retail spend every calendar month.
9. OCBC Titanium Rewards Card
https://www.ocbc.com/personal-bankin...astercard.html
10x OCBC$ on your shopping Local & Overseas Shopping Transactions, Local & Overseas Department Store Transactions and Local & Overseas Online Transactions.
The remaining 9 OCBC$ will be posted to the Card Account by the end of the next calendar month
https://www.ocbc.com/assets/pdf/card...ons.pdf?rand=1
10,000 KrisFlyer miles requires OCBC$ 25000, For each conversion of OCBC$ to KrisFlyer miles a fee of S$25 will be charged
10. UOB Lady's Card
https://www.uob.com.sg/personal/card...ard/index.page
============
If you know of and/or use any other cards (or the ones already mentioned), please share your thoughts.
***ALL VALUES BELOW IN SINGAPORE DOLLARS (SGD)***
============
In no particular order (apart from personal preference in terms of good-mileage opportunities):
============
1. UOB PRVI Miles VISA, MasterCard, AMEX
VISA:
http://www.uob.com.sg/personal/cards...iles_visa.html
MasterCard:
http://www.uob.com.sg/personal/cards...astercard.html
Amex:
http://www.uob.com.sg/personal/cards...amex_card.html
http://www.uob.com.sg/personal/cards...ard/microsite/
Mileage accrual:
The earn rate will be 1.4 miles for every $1 spent in multiples of S$10 (every multiple of S$5 gives 6 to 7 miles due to 3.5 UNI$ rounding off, every S$10 gives 14 miles), and 2.4 miles for every $1 spent OVERSEAS (every $5 gives 12 miles).
Requirements: min. income $80,000 (not strict).
Cost: First year free, then S$256.80 for main, first two supplementary always free. Annual fee waiver for Amex card if you charge $50,000 or more in a year.
Miles conversion fee: $25 per conversion. UNI$ are combined in 1 cardholder's name/FIN Number/NRIC together for all UOB cards which earn UNI$.
Pros: Best mileage accrual rates for overseas spend only. 20,000 bonus miles and annual fee waiver with spend of $50,000 per year (both only for Amex card). $45 1-way airport transfer voucher for $1,000 overseas spend in a given quarter (Amex only).
Cons: AMEX not always accepted by merchants. Points allocated on every $5 spent, rounded down to next $5. Transfer in blocks of 5000 UNI$ points = 10,000 miles. Points are valid for 2 years (transfer before expiry and they will subsequently be valid for a further 3 years from the date of transfer to KrisFlyer).
2. UOB Preferred Platinum Visa
http://www.uob.com.sg/personal/cards..._platinum.html
http://www.uob.com.sg/personal/cards...visa_card.html
Mileage accrual: Earn 4 miles for every $1 spent using ONLY MOBILE CONTACTLESS every $5 gives 10 UNI$ which equal 20 miles). Same incredible mileage-earning ratio for internet shopping with certain restrictions (travel-related, utilities, etc.). Earn 0.4 mile for every $1 for regular, signature-based payments AND ORPHAN SPEND DUE TO $5 ROUNDING OR EXCEEDING THE BONUS U$2000 SPEND (every $5 gives 1 UNI$ which equal 2 miles).
Earning 4 miles/$ is limited to the first S$1110 spent during the per calendar month (via Mobile Contactless). 2,000UNI$ refers to the extra 9UNI$ and does not include the normal 1UNI$.(Stop when you notice you earn 3UNI$ (1 + bonus 2) for the last S$5 transaction. ($1110/5)x9=1998UNI$, hence the last S$5 transaction will earn 2 bonus UNI$. The total bonus UNI$ awarded to you from qualifying spend on Selected Online Transactions and Mobile Contactless Transactions is capped at UNI$2,000 for each calendar month. THE CAP IS ON THE 9 UNI$ BONUS NOT 10UNI$ TOTAL YOU GET WITH BASE OF U$1 PER $ SPEND
Keep in mind that some merchants offer different, non-mileage accruing awards with UOB cards which are called SMART$. Some popular merchants include Cold Storage, Guardian and Giant Supermarket, ToastBox and Starbucks. A full list of merchants where Mobile contactless transactions will NOT earn miles can be found here: http://www.uob.com.sg/personal/cards...smartclub.html
Requirements: min. income $30,000 ($60,000 for foreigners).
Cost: First year free, then $192.60 for main and $96.30 for supplementary. Annual fee waived off easily.
Miles conversion fee: $25 per conversion, in blocks of 5000 UNI$=10,000 miles. UNI$ are combined in 1 cardholder's name for all UOB cards.
Pros: Incredible mileage accrual rates for Paywave transactions (not all merchants - some give SMART$ instead which are different rewards!) as well as internet transactions (some restrictions apply).
Cons: Points allocated on every $5 spent, rounded down to next $5. Transfer in blocks of 5000 UNI$ points = 10,000 miles. Points are valid for 2 years (transfer before expiry and they will subsequently be valid for a further 3 years from the date of transfer to KrisFlyer).
3. Citi PremierMiles MasterCard
https://www.citibank.com.sg/credit-cards/travel/premiermiles-card/?ecid=PSGONSGCCAENPM
Mileage accrual: Earn 1.2 miles for every $1 spent. Earn 2 miles for every $1 spent OVERSEAS. 10,000 bonus miles for each annual membership renewal.
Requirements: min. income $50,000 for VISA. Principal cardholder must be at least 21 years of age.
Cost: First year free, then $192.60 for VISA main, supplementary always free. Annual fee waiver available in exchange for forfeiting the 10,000renewal bonus.
Miles conversion fee: $25 per conversion.
Pros: Decent all-rounder, good for overseas spend. Points never expire. Bonus miles for annual card renewal. 11 frequent flyer programs & 3 hotel programs to choose from, including EVA Air - only 25,000 miles for 1 way Business Class within Asia!!
Cons: No miles awarded for EZ-Link & Transitlink transactions. Miles awarded per S$1. Cents not included. 1.2 miles/S$1. Transfer in blocks of 10,000 miles.
4. DBS Altitude VISA/AMEX
http://www.dbs.com/sg/personal/cards...e/default.aspx
http://www.dbs.com/sg/personal/cards...e/default.aspx
Mileage accrual: Earn 1.2 miles for every $1 spent (every $5 gives 3 DBS points which equal 6 miles). Earn 2 miles for every $1 spent OVERSEAS.
Requirements: min. income $80,000.
Cost: First year free, then $180 for main and $90 for supplementary. Annual fee waiver if you charge $25,000 or more in a year.
Miles conversion fee: S$26.75 per transfer, redeem 1700 DBS points to waive off.
Pros: Points never expire. No rounding down transaction amount to nearest $5 (calculation is done as follows: DBS points = 'transaction amount' divided by 5, multiply by 3, after that round down to nearest whole number. Minimum spend is S$1.67. Each DBS point = 2 miles). Earn 3 miles per S$1 spent on all online Flight and Hotel transactions (capped at S$5,000 per month). 10,000 miles renewal bonus if you have to pay card renewal fees.
Cons: All local spend now down to 1.2 miles/$ (since Dec 1, 2013). AMEX not always accepted by merchants. Transfer in blocks of 5000 DBS points = 10,000 miles (on the plus side points don't expire). Per transfer of S$26.75, redeem 1700 DBS points to waive off.
5. Maybank Horizon Platinum Visa
http://info.maybank2u.com.sg/persona...visa-card.aspx
Earn 3.2 air miles (8X TREATS Points) with every dollar spent on dining, petrol, taxi fares and hotel bookings at Agoda.com/horizon
Earn 2 air miles (5X TREATS Points) with every dollar spent on air tickets, travel packages and foreign currency transactions, with a minimal S$300 in a calendar month
Earn 0.4 mile for every $1 spent elsewhere (1 mile for every $2.50 spent).
Requirements: min. income $30,000 ($80,000 for foreigners).
Cost: $150 for main, supplementary always free. Unsure of any annual fee waiver conditions.
Miles conversion fee: In blocks of 5,000 points to 2000 Asia Miles or KrisFlyer. S$26.75 fee applies.
Pros: Great for ticket purchases and overseas spend. Complimentary access to selected VIP airport lounges when you charge a minimum of S$400 in a single transaction on air tickets or travel packages to your Card 3 months prior to the date of travel.
Cons: Great ONLY for ticket purchases and overseas spend. Points are valid for 1 year only, expire either on 30 June or 31 December of the same year if not Rewards Infinite member.
6. Singapore Airlines KrisFlyer Ascend AMEX
https://www.americanexpress.com/sg/s...nd-credit-card
Mileage accrual: Earn 1.2 KrisFlyer miles for every S$1 spent on all your eligible purchases with your Card
Earn 2 KrisFlyer miles for every S$1 equivalent in foreign currency spent overseas on eligible purchases during June and December
Requirements: min. income $50,000 ($60,000 for foreigners). Principal cardholder must be over 21 years of age.
Cost: First year free, otherwise $256.80 for main, 2 supplementary cards always free (more available at $80.25 each). Annual fee cannot be waived unless you spend alot.
Miles conversion fee: None - your KrisFlyer miles are transferred to your account directly with no conversion fees or charges.
Pros: None, except for welcome offers (4 complimentary airport lounge access vouchers, one complimentary night with Millennium Hotels and Resorts).
Cons: Simply nothing special - there are better cards available for all types of purchases, including flight tickets, even with all of the bonuses above applied. AMEX not always accepted by merchants.
7. Citibank Rewards Card
http://www.citibank.com.sg/gcb/credi...CACRENCCHOCALM
Earn 10X Rewards (10 Rewards Points or 4 Miles for every S$1 spent) when you shop for clothes, bags and shoes or at departmental stores or online shopping websites, including SingTel & M1 online bill payment!
Pros: Transfer to 11 FFPs & 3 Hotel programs in blocks of 25,000 points=10,000 miles; S$25 fee.
Cons: Points awarded per S$1 spend. Cents not included. Cannot combined Thank You Points across cards.
8. DBS Woman's World MasterCard® Card
http://www.dbs.com.sg/personal/cards...astercard-card
10X Rewards for Online Retail Purchases
T&C Here: https://www.dbs.com.sg/iwov-resource...s_card_tnc.pdf
Pros: Men also can get this card!! DBS points are combined in 1 cardholder's name. No rounding down transaction amount to nearest $5 (calculation is done as follows: DBS points = 'transaction amount' divided by 5, multiply by 10, after that round down to nearest whole number. Minimum spend is S$1. Each DBS point = 2 miles).
Cons: DBS points are valid for 1 year based on card anniversary date. The additional 9X DBS Points for online retail spend in a calendar month will be awarded on the 16th of the next calendar month. If the above days are not working days, the Points will be awarded on the next working day. The additional 9X DBS Points are only applicable to the first S$2,000 online retail spend every calendar month.
9. OCBC Titanium Rewards Card
https://www.ocbc.com/personal-bankin...astercard.html
10x OCBC$ on your shopping Local & Overseas Shopping Transactions, Local & Overseas Department Store Transactions and Local & Overseas Online Transactions.
The remaining 9 OCBC$ will be posted to the Card Account by the end of the next calendar month
https://www.ocbc.com/assets/pdf/card...ons.pdf?rand=1
10,000 KrisFlyer miles requires OCBC$ 25000, For each conversion of OCBC$ to KrisFlyer miles a fee of S$25 will be charged
10. UOB Lady's Card
https://www.uob.com.sg/personal/card...ard/index.page
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The 'Best credit cards for KF miles accrual' master thread
Sep 23, 2012, 6:52 am
#931
Join Date: Oct 2011
Posts: 143
No it is not. The 1.5% is the administration fee. There is another transaction fee which is mentioned in the T&Cs, but DBS do not specify what the percentage is. However, typically, this is 1%, so in all likelihood, they are also charging 2.5% total for overseas transactions.
Sep 23, 2012, 9:58 am
#932
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,801
Problem with AE-branded cards such as the UOB PRVI is AE looks back 5 days or so and cherry picks a rate to apply - even if it is a mid-day rate
http://www.hongkongcard.com/forum/fo...hp?id=6343&p=2 #14
"In order to get to the 8.2275 wholesale rate (8.4431 after 2% fee rate) I got, I have to go and find a mid-day rate on 9 Mar (0.9377 http://finance.yahoo.com/echarts?s=U...rce=undefined;) and.multiply the 0.12887 double conversion USD rate on 9 Mar for it (0.12084 or $8.2753).
Not only is the rate stale (my transaction.was allegedly processed on 12 Mar) but it's not even a day-end rate but a very deliberate.mid-day high rate from the Friday before the weekend. Fuxk Amex! Even tho I'll still use the card.when I have SCB AE $2.5/mile http://www.flyertalk.com/forum/catha...-hk-9.html#134, I'll think twice about using them in a country where the currency has large intra-week fluctuation against the USD (like AUD and GBP)."
I'm not 100% sure that the AE treasury forex system on SG is 100% identical to the AE treasury forex system in HK, but that's something to think about.
3.25% fees over a ripoff rate vs an approx ~4% return in miles (my valuation of Asia Miles is HK$0.1 or S$0.016) is getting a bit marginal...HK's equivalent of the 3.25% Rate is 2%.
Visa rates are more predictable - they aren't always better than Amex (neither are exactly the wholesale rate) but Visa doesn't have ripoff rates for highly fluctuating currencies:
http://www.corporate.visa.com/pd/con...r_ex_rates.jsp
but Visa is vulnerable to Dynamic Currency Conversion abroad
http://www.hongkongcard.com/forum/fo...hp?id=6343&p=2 #14
"In order to get to the 8.2275 wholesale rate (8.4431 after 2% fee rate) I got, I have to go and find a mid-day rate on 9 Mar (0.9377 http://finance.yahoo.com/echarts?s=U...rce=undefined;) and.multiply the 0.12887 double conversion USD rate on 9 Mar for it (0.12084 or $8.2753).
Not only is the rate stale (my transaction.was allegedly processed on 12 Mar) but it's not even a day-end rate but a very deliberate.mid-day high rate from the Friday before the weekend. Fuxk Amex! Even tho I'll still use the card.when I have SCB AE $2.5/mile http://www.flyertalk.com/forum/catha...-hk-9.html#134, I'll think twice about using them in a country where the currency has large intra-week fluctuation against the USD (like AUD and GBP)."
I'm not 100% sure that the AE treasury forex system on SG is 100% identical to the AE treasury forex system in HK, but that's something to think about.
3.25% fees over a ripoff rate vs an approx ~4% return in miles (my valuation of Asia Miles is HK$0.1 or S$0.016) is getting a bit marginal...HK's equivalent of the 3.25% Rate is 2%.
Visa rates are more predictable - they aren't always better than Amex (neither are exactly the wholesale rate) but Visa doesn't have ripoff rates for highly fluctuating currencies:
http://www.corporate.visa.com/pd/con...r_ex_rates.jsp
but Visa is vulnerable to Dynamic Currency Conversion abroad
Sep 23, 2012, 5:43 pm
#933
Join Date: Mar 2005
Location: Sunny Singapore
Programs: TG*G, SQ, QF
Posts: 911
No it is not. The 1.5% is the administration fee. There is another transaction fee which is mentioned in the T&Cs, but DBS do not specify what the percentage is. However, typically, this is 1%, so in all likelihood, they are also charging 2.5% total for overseas transactions.
Sep 25, 2012, 8:14 pm
#934
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,801
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_1_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9B206 Safari/7534.48.3)
Here's some rates I got from card spending with my HKD card in the UK. Shows some of the indicative spreads you may encounter.
http://www.hongkongcard.com/forum/forum_show.php?id=3939&p=6
All transactions posted on 25 Sep:
Yahoo GBPHKD=X closing rate: 12.554
MC's stated GBP/HKD rate (24 Sep US time): 12.572 (+0.15% to Yahoo rate) https://www.mastercard.com/global/currencyconversion/index.html
HKAB sell rate: 12.660 (+0.84%) (this is an indicative bank over the counter T/T sell rate, before fee. HSBC Premier (fee-free) charged us 0.32% above that for cash on 22 Sep)
MC rate per HKD MC card: 12.818 (+2.10%, almost exactly the stated 1.95% above the MC rate above)
AE rate per HKD AE card: 12.901 (+2.76%, which appears to be just a bit more than the stated 2% above the highest rate for the last week of 12.646 on 22 Sep, and 0.66% above the MC rate)
My rate for (GBP) cash are 0.84+0.32=1.16% over Yahoo
So if my fees for my SGD card are 2.5% for MC and 3.25% for AE, my actual cost over Yahoo are 2.65% and 4.01%.
Cash is the proper benchmark, as it is the cheapest alternative.
MC is 1.49% over cash and AE is 2.85% over cash
Given you earn miles at 2 miles per S$ for Premiermiles (but it's a Visa - rates are 0.53% higher than MC for 24 Sep so it's presumably 2.02% more costly than cash), you are getting approx 3.2% back in miles. With UOB PRVI you are getting 4% (see above).
So you are 1.18% and 1.15% ahead of cash for using Premiermiles and UOB PRVI respectively. Not as clear cut as HK, where my MC earns 8 miles per HK$3 overseas or 3.75% cash worth of miles, so my upside for using card over cash is 2.81%!
Here's some rates I got from card spending with my HKD card in the UK. Shows some of the indicative spreads you may encounter.
http://www.hongkongcard.com/forum/forum_show.php?id=3939&p=6
All transactions posted on 25 Sep:
Yahoo GBPHKD=X closing rate: 12.554
MC's stated GBP/HKD rate (24 Sep US time): 12.572 (+0.15% to Yahoo rate) https://www.mastercard.com/global/currencyconversion/index.html
HKAB sell rate: 12.660 (+0.84%) (this is an indicative bank over the counter T/T sell rate, before fee. HSBC Premier (fee-free) charged us 0.32% above that for cash on 22 Sep)
MC rate per HKD MC card: 12.818 (+2.10%, almost exactly the stated 1.95% above the MC rate above)
AE rate per HKD AE card: 12.901 (+2.76%, which appears to be just a bit more than the stated 2% above the highest rate for the last week of 12.646 on 22 Sep, and 0.66% above the MC rate)
My rate for (GBP) cash are 0.84+0.32=1.16% over Yahoo
So if my fees for my SGD card are 2.5% for MC and 3.25% for AE, my actual cost over Yahoo are 2.65% and 4.01%.
Cash is the proper benchmark, as it is the cheapest alternative.
MC is 1.49% over cash and AE is 2.85% over cash
Given you earn miles at 2 miles per S$ for Premiermiles (but it's a Visa - rates are 0.53% higher than MC for 24 Sep so it's presumably 2.02% more costly than cash), you are getting approx 3.2% back in miles. With UOB PRVI you are getting 4% (see above).
So you are 1.18% and 1.15% ahead of cash for using Premiermiles and UOB PRVI respectively. Not as clear cut as HK, where my MC earns 8 miles per HK$3 overseas or 3.75% cash worth of miles, so my upside for using card over cash is 2.81%!
Sep 26, 2012, 10:16 am
#936
Join Date: Aug 2010
Location: SYD
Programs: QF WP
Posts: 1,799
Just noting that there really isn't a recognised "end of date rate" for FX, since it's pretty much traded 24 hours on weekdays. Different price sources will also give you something different, and, for the purpose of transactions, there's no hard or fast rule as to which rate will be used, at what time, etc.
Sep 27, 2012, 2:00 am
#937
Join Date: Mar 2005
Location: Sunny Singapore
Programs: TG*G, SQ, QF
Posts: 911
Looks like Citibank are upping the ante...
Just received a mailer saying 2.6 citimiles per S$1 spend overseas for the period 1st October to 31st December for >S$5k and <S$33k per month.
Need to sms to register for the offer. Not sure how tightly its targeted...
Just received a mailer saying 2.6 citimiles per S$1 spend overseas for the period 1st October to 31st December for >S$5k and <S$33k per month.
Need to sms to register for the offer. Not sure how tightly its targeted...
Sep 27, 2012, 8:17 am
#938
Join Date: Apr 2007
Location: Anywhere
Posts: 6,576
I'm not biting on this one - not significant incentive enough, only 0.1 mile better than UOB PRIVI per S$1 plus I desperately need to make my PRVI spend threshold of S$50K by the end of the year.
Sep 27, 2012, 2:03 pm
#939
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,801
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_1_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9B206 Safari/7534.48.3)
0.1 more miles per S$ plus 0.75% less fee...and a wholesale rate that's not heads you win tails I lose (tho AE is not worser than Visa all the time)
Originally Posted by carrotjuice
I'm not biting on this one - not significant incentive enough, only 0.1 mile better than UOB PRIVI per S$1 plus I desperately need to make my PRVI spend threshold of S$50K by the end of the year.
Sep 27, 2012, 7:11 pm
#940
Join Date: Oct 2011
Posts: 143
IMHO, Citi has really fallen behind the pack in terms of the 'general' miles earning card space. If I was getting into the credit card miles game now, I wouldn't bother with it.
Sep 30, 2012, 9:27 pm
#941
Join Date: Apr 2007
Location: Anywhere
Posts: 6,576
What makes you think Citibank will still use the same supposed spread on the wholesale rate? Surely the extra miles have to come from somewhere!
Oct 1, 2012, 8:47 am
#942
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,801
Originally Posted by carrotjuice
What makes you think Citibank will still use the same supposed spread on the wholesale rate? Surely the extra miles have to come from somewhere!
Both transaction posted on 17 Feb for exact same amount. I only posted the results of the Premiermiles up since I thought it's the same for all Visas:
http://www.hongkongcard.com/forum/fo...hp?id=3939&p=2
Citibank Premiermiles:
THB
Post date: 17 Feb
HKAB sell rate: 0.2385
Citibank rate: 0.2393
Premium/(discount): 0.35%
Also,
Visa discloses rates applied Visa discloses rates applied:
http://www.corporate.visa.com/pd/con...r_ex_rates.jsp
Except I haven't been using my Citibank Premiermiles after Feb 10 overseas.
I used my HSBC Platinum Visa in Thailand
I got the exact Visa rate, after fee
http://www.hongkongcard.com/forum/fo...hp?id=3939&p=5
THB
HSBC Visa
Post date: 19 Jun
HKAB sell rate: 0.2500
HSBC rate: 0.2517
Premium: 0.70%
Visa said I should have been charged 0.2523 on 19 Jun (0.2517 on 18 Jun after 1.95% fee - maybe Visa uses US time whereas HSBC HK reports date per HK tme) http://www.corporate.visa.com/pd/con...r_ex_rates.jsp
Last edited by percysmith; Oct 1, 2012 at 9:49 am
Oct 2, 2012, 5:42 am
#944
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,801
Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_1_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9B206 Safari/7534.48.3)
xinmpg - acquiring banks always only collect currency billed, unless they manage to con/compel cardholder to accept DCC.
Otherwise card association (Visa/MC/AE) does the translation. Visa and MC will go direct (per their rate table), AE will go to USD first (some extra spread but minor gain compared to their ability to cherry pick from 5 previous days' rates).
Their is the possibility that merchant can collect something other than their own currency, e.g. CX can bill USD to both HK and US cardholders out of HK (resulting in foreign transaction charge for US cardholder), but then you will be explicitly billed in that currency and no translation will take placez Merchant will collect that currency, rather than its own currency translated at some favorable rate to it/ripoff rate to cardholder. How it handles the non-local currency is up to the merchant.
xinmpg - acquiring banks always only collect currency billed, unless they manage to con/compel cardholder to accept DCC.
Otherwise card association (Visa/MC/AE) does the translation. Visa and MC will go direct (per their rate table), AE will go to USD first (some extra spread but minor gain compared to their ability to cherry pick from 5 previous days' rates).
Their is the possibility that merchant can collect something other than their own currency, e.g. CX can bill USD to both HK and US cardholders out of HK (resulting in foreign transaction charge for US cardholder), but then you will be explicitly billed in that currency and no translation will take placez Merchant will collect that currency, rather than its own currency translated at some favorable rate to it/ripoff rate to cardholder. How it handles the non-local currency is up to the merchant.
Oct 20, 2012, 3:18 am
#945
Join Date: Apr 2007
Location: Anywhere
Posts: 6,576
Possible to churn KF Amex Gold?
I had a KF Amex Gold, signed up for it to get the initial 5,000 KF miles, then cancelled it when a year was up to avoid the annual fee. It's been about a year now since I cancelled the card, hence I'm thinking of re-applying - just to get the signup KF miles again.
Their terms however say that the KF signup miles is applicable only to "first-time applicants".
Has anyone tried re-applying after having cancelled a previous card and obtained the signup miles? If Amex won't give the signup miles then I shan't bother.
Their terms however say that the KF signup miles is applicable only to "first-time applicants".
Has anyone tried re-applying after having cancelled a previous card and obtained the signup miles? If Amex won't give the signup miles then I shan't bother.