Which Credit Card Should You Use For Year-End Travel?

As 2023 draws to a close and everyone prepares to head overseas for a well-deserved break, banks have lost no time coming up with year-end spending promotions. These offer bonus miles to cardholders, especially those who opted for miles credit cards and spend in foreign currency. It is a great opportunity to recharge your miles balance while on vacation. 

In this post, we’ll look at some of the ongoing credit card offers and how to trigger them, as well as some tried-and-tested alternatives that work year-round.

From 1 November 2023 to 31 January 2024, Citi PremierMiles Cardholders can earn 4 mpd on in-person foreign currency transactions, instead of the usual 2 mpd. 

They will need to register for this offer by sending the following SMS to 72484:

CITIPMCFX<space>Last 4 digits of your Citi PremierMiles Card
e.g. CITIPMCFX 1234

Once registered, cardholders who meet a minimum spend of at least S$5,000 in a calendar month will earn an upsized rate of 4 mpd on foreign currency spending for that calendar month. For avoidance of doubt, the minimum spend can be in either Singapore dollars or foreign currency, and also includes Citi PayAll transactions.

The extra 2 mpd is capped at 10,000 Citi Miles per calendar month, which means you’d max out the offer with a monthly spend of S$5,000. It is only valid for in-person spending, so online spending in foreign currency will not qualify. 

Bonus points will be credited from February to April 2024, depending on which month your qualifying spend is made. 

From 1 November 2023 to 31 January 2024, Citi Prestige Cardholders can earn 4.5 mpd on all foreign currency transactions, instead of the usual 2 mpd.

They will need to register for this offer by sending the following SMS to 72484:

CITIPRESFX<space>Last 4 digits of your Citi Prestige Card

e.g. CITIPRESFX 1234

Registration is capped at the first 3,000 Citi Prestige Cardholders, and you’ll receive an acknowledgement upon successful registration.

Once registered, cardholders who meet a minimum spend of at least S$8,000 in a calendar month will earn the upsized rate of 4.5 mpd on foreign currency spending for that calendar month. For avoidance of doubt, the minimum spend can be in either Singapore dollars or foreign currency, and also includes Citi PayAll transactions.

The extra 2.5 mpd is capped at 12,500 miles per calendar month, which means you’d max out the offer with a monthly spend of S$5,000. Unlike the Citi PremierMiles offer above, it is valid on both in-person and online foreign currency spending, so you could use it to book hotels or pay for rental cars online and still earn the bonuses.

Bonus points will be credited by 30 April 2024. 

The newly-revamped Maybank Horizon Visa Signature has a great offer for foreign currency spending that offers an uncapped 2.8 mpd. This requires a minimum spend of S$800 per calendar month, and applies to both in-person and online foreign currency spend. While it’s true that you could generate a slightly higher rate of 4+ mpd with other cards, those all invariably come with a cap. The potential to earn an uncapped 2.8 mpd could be quite lucrative for big spenders. 

The best thing about this offer? It even applies to commonly-excluded transactions such as charitable donations, education, insurance, and private hospitals. So long as these transactions are processed in foreign currency, you’ll earn an uncapped 2.8 mpd too.

In addition to foreign currency transactions, spending at least S$800 per calendar month will also make you eligible to earn 2.8 mpd on up to S$10,000 of air ticket transactions. 

All bonus points will be credited the following calendar month.

From 1 November to 31 December 2023, StanChart Journey Cardholders will receive an uncapped 3.5% cash rebate on all foreign currency transactions, whether online or in-person.

No registration nor minimum spend is required, and cashback will be automatically posted by 29 February 2024. 

This cash rebate effectively offsets StanChart’s usual 3.5% FCY fee, allowing cardholders to earn 2 mpd on overseas spend without anything more than the usual Visa spread (which will apply regardless of which credit card you use).

The main thing to be careful about here is that only transactions made and posted during the promotional period will be eligible for the 3.5% cash rebate. Therefore, if you’re travelling towards the end of December, take care because your transactions may not post in time. In general, it’s a good idea to buffer at least three calendar days for posting. 

From now till 30 November 2023, UOB PRVI Miles Cardholders can earn up to 8 mpd on airline, hotel and travel agent bookings made with their card.

Registration is required, and can be done by sending the following SMS to 77862:

PMQ3<space>Last 4 digits of your NRIC/Passport

e.g. PMQ3 567A

The campaign is open to all three versions of the UOB PRVI Miles Card (AMEX, Mastercard, Visa), with no cap on the maximum number of eligible participants. 

Once registered, cardholders must spend at least S$2,000 across any of the following three categories during the promotion period:

• Airlines (e.g. Singapore Airlines, Qatar Airways, Cathay Pacific)
• Hotels (e.g. Airbnb, Accor, Hilton)
• Online travel agencies (e.g. Klook, Agoda, Expedia)

The maximum bonus miles are capped at S$4,000 (i.e. 8,000 miles) for the entire promotion period. Bonus miles will be credited by 5 January 2024.

While the spending must take place during the promotion period, travel can be for any dates in the future. So even if you plan to stay home this year-end, there’s still scope to plan ahead for 2024!

Even in the absence of promotions, there are some credit cards which are reliable options for racking up miles on foreign currency spend all year round.

• Amaze + Citi Rewards: Amaze pairs with Mastercards to convert all foreign currency transactions into Singapore dollars, at lower rates than what you’d pay with the banks. Pair it with the Citi Rewards Card and earn 4 mpd on all your foreign currency spending, capped at S$1,000 per statement month.

• DBS Woman’s World Card: If your transactions are made online (e.g. overseas flight or hotel bookings), then using the DBS Woman’s World Card will earn you 4 mpd on all your spending, capped at S$1,500 per calendar month.

If you’re heading overseas for the end of the year, be sure to check out these bonus miles offers and register if necessary. 

Take particular note of the minimum spend requirements and caps, and don’t panic if you don’t see the bonus miles right away – some of them will take a few months to credit.