You may be planning to embark on that overseas trip that you have been saving for all year. When taking a trip overseas, ensure you have a travel credit card to save you financial hassles while on holiday. In Singapore, the travel credit cards are for those who travel frequently or if you want to use credit overseas. The credit card offers users rebates on overseas spend and access to a regular flyer program.
While on travel you can usually use your usual credit card but always check the T&Cs first. This is because not all credit cards offer cash rebates and reward points for overseas spending. A travel credit card is appropriate if you are to avoid foreign currency transaction fees from eroding your rebates. Transaction fees vary from credit card to credit card and from bank to bank.
Using a wrong credit card while on holiday overseas may leave you with a huge credit card bill. Here are some of the best credit cards in Singapore for overseas spending.
1. OCBC 90°N Card
This one of the best credit cards for overseas spending in terms of reward rate. If you are going on holiday overseas, this is the perfect card for you. You will be able to earn 4 miles per S$1 you spend in foreign currency. You also get 4 miles for spending with airlines such as Air Asia, SIA as well as with entertainment merchants such as Spotify and Netflix. If you do book with travels sites such as Agoda or Airbnb, you will receive 8 miles per S$1.
The card is affordable as there are no miles conversion fees with S$192.6 yearly fee already waived for the first year. However, the rates are valid up to February next year after which you will earn 1.2 miles locally and 2.1 miles overseas for every S$1 spent.
2. UOB Visa Signature Card
If you want to avoid pricy credit cards but still maximize on miles, then this should be your overseas credit card. It’s appropriate for spending between S$1000 and S$2000. You get to receive 4 miles per S$1 on foreign currency spending. However, you need to spend at least S$1,000 for you to receive the miles. Equally, you should not spend more than S$2,000 because that will only attract just 0.4 miles per S$1. If you are someone who will spend within these limits, then this is your card.
3. UOB PRVI Miles Card
Despite new miles cards springing up lately, UOB PRVI Miles Card stands out among the rest with the best general miles for overseas spending. You will be able to earn top market rates of 2.4 miles and 1.4 miles per S$1 on overseas and local spend respectively. Cardholders also get 10 miles with hotels and major airlines, and you accumulate miles faster compared to competitors.
There is a fee waiver if you spend S$50,000 per year you will be exempt from the S$256.8 fee. Holders also get to enjoy airport transfers and free travel insurance. If you are looking to accumulate miles faster without paying huge fees, then this is your credit card.
4. DBS Altitude Visa Card
DBS Altitude Visa Card is one of the best when it comes to fee-waivers which is uncommon for travel cards. Holders will earn 1.2 miles locally, 2 miles on overseas spend, and 3 miles on online travel bookings. You will also get free travel insurances, golfing and dining privileges and two lounge visits per year. If you spend S$25,000 per year, you will receive a waiver of the S$192.6 fee. For holders who can spend S$2,000 per month, this credit card is the best no-fee way to receive miles overseas.
5. Citi PremierMiles Visa Card
Citi PremierMiles Visa Card offers an affordable balance of incredible rates as well as luxury travel benefits. Just like other credit cards, you will earn 1.2 miles locally and 2 miles overseas for every S$1 spent. New cardholders get to enjoy an astounding 21,000 bonus welcome miles worthy S$210 plus 10,000 more miles worth S$100 every time you renew membership. Besides the low fee, cardholders also get to enjoy free travel insurance as well as two lounge visits per year.
6. Standard Chartered Visa Infinite Card
The card offers a rapid way of earning miles for overseas spends. Their reward rates are some of the highest in the market at 3 miles per dollar spent overseas. This is higher than the average 2 miles that most travel credit cards offer. Locally cardholders earn as high as 1.4 miles per S$1. For regular travelers, this SC Visa Infinite Card is the best for you.
Besides the rapid miles earning potential, you will also get to enjoy other travel perks. You get to enjoy a 4-hour-yacht-hire each year, six free lounge visits, free travel insurance, rental privileges with Hertz Asia as well as golfing treats. New holders receive 35,000 welcome miles.
7. CIMB Visa Infinite Card
For high spending travelers, this card offers amazing rebates with unlimited earning potential. The rewards are free forever, which means that they are maintenance-free. Cardholders usually earn 1% unlimited rebates on their spending, which is increased to 2% travel expenses for a minimum of S$2,000. Travel expenses include airlines, hotels, and travel agencies, among others. The card is better than most cards because of no fees and the offer of 1.5% flat rebate. If you are a high overseas spender, then the CIMB Visa Infinite Card is the best pick for you to earn rebates.
8. OCBC Voyage Card
This card is popular for its unique flexibility in terms of miles redemption and rewards. For your overseas spend you are awarded 2.4 miles per $S1 whole locally you earn1.2 miles and 1.6 miles for local dining. Other credit cards don’t offer boosted rate as the OCBC Voyage Card which allows cardholders to earn more than the base rate when in Singapore.
You get to redeem the miles without black-out dates at any time at any airline. This is advantageous if you have a shifting travel schedule or when there is little lead time before traveling.
(By Neha Gupta)