Cashback Credit Cards vs Mileage Credit Cards for Overseas
Credit Cards for Overseas Spending can sometimes more than offset
any overseas bank transaction fees involved, the minimum spending
requirements could be a huge deterrence. Cardholders looking for
other options might be be more inclined to use mileage or reward
points credit cards instead to chalk up those miles or reward points
and at the same time not be restricted with minimum spending requirements.
Miles or reward points awarded for spending on credit cards also
take years to expire or better still, no expiry date at all in certain
cases. Taking into consideration the mentioned benefits, let us
take a closer look at how the various mileage or reward points credit
cards stack up against each other in the table below.
Mileage or Reward Points Credit Cards for Overseas Spending
Best Mileage or Reward Points Credit Card for Overseas
The flexible UOB
Visa Signature Card gets our vote for being the best mileage
credit card for overseas travel.
Its 10X UNI$ earn rate for overseas spend can also be converted
to 4 air miles per $1 overseas spend or 2.3% cash rebate. The low
minimum spend of $1,000 in foreign currencies is also not a big
deterrence if you consider the fact that tourists usually spend
more than $1,000 overseas. However, cardholder should take note
that the 10X UNI$ earn rate is capped at a relatively low $2,000
(4,000 UNI$) spend in a statement month.
The newly launched BOC
Elite Miles World MasterCard is also worth a mention. This is
due to its high promotional earn rate of 5 air miles per $1 overseas
spend. It has no minimum spend and no maximum cap on miles earned.
However, one should take note that the promotional mileage earn
rates ends on 31 Dec 2018 and will change to 3 miles per $1 overseas