Best Miles & Cashback Cards for Foreign Currency Spending in Singapore (Mar 2025)

Last updated on 19 February 2025

Pick a category below to view the best cards

What are the Best Cards in Singapore for Overseas Spending?

As each “player” of the Miles Game values their miles/points differently, this is always a complicated spending category to analyse.

However, no matter how you look at it, the facts remain:

Most Singapore credit cards charge 3 – 3.5% in FX fees
Using a Miles/Points credit card for foreign currency spending comes with an opportunity cost of at least 4 – 4.5% (as a card that offers 1% cashback + no FX fees exists), hence, you’re technically “paying” about 1.1 cents (SGD) per mile with a 4 mpd card, and 1.7 cents per mile with a 2.4 mpd card
By linking a Mastercard to Amaze, one can save ~1% in FX fees, while still earning miles/cashback
Multi-currency cards/wallets do not have any FX fees, but also, don’t usually earn miles/cashback

❓What’s a good price to pay for miles?

Firstly, you need to understand that there is no single valuation of miles, as all miles currencies have different pros and cons.

For example, some Frequent Flyer Program (FFP) require over 100k miles to fly Business Class to Europe, while others require as little as 62.5k.

If you don’t have your own valuation of miles yet, I recommend using miles cards for foreign currency spending only when the earn rate is at least 4 miles per dollar, with a cost of 1.1 cents per mile at most.

It hardly makes sense to pay over 1.5 cents for inflexible credit card miles, when you can simply buy more “powerful” miles for a similar price. And remember, when you buy miles outright, you can earn even more miles by using the right cards.

How are these cards chosen and ranked?

These cards are picked and ranked based on how they compare against other cards, based on these key factors:

1) Earn rates (miles/cashback)
2) Ease of use (spending/income requirements)
3) Miles/Points flexibility (total transfer partners)
4) Miles/Points expiry term
5) Annual fee
6) Other additional benefits

Chocolate Card	No foreign currency fee + 2 mpd ^{• Up to $1,000 per calendar month • No annual fee, ever} Cost per mile: 0.5 cents
Amaze + Citi Rewards	4 mpd ^{• Non-travel spending only (i.e. no flight/hotel bookings) • Up to $1,000 per statement month • 2.5% FX loss (estimated)} Cost per mile: 0.8 cents
Trust Cashback	No foreign currency fee + 1% cashback ^{• No annual fee, ever} Net gain: 1%
HSBC Revolution	4 mpd ^{• Specific online shopping merchant categories only • Poor transfer ratio to KrisFlyer • Up to $1,000 per calendar month • No annual fee, ever • 3.25% FX fee} Cost per mile: 1.1 cents
UOB Preferred Platinum	4 mpd ^{• Online or Mobile Contactless only (G Pay, Apple Pay) • Up to $1,110 per calendar month • 3.25% FX fee} Cost per mile: 1.1 cents
DBS Woman’s World	4 mpd ^{• Online only • Up to $1,500 per calendar month • 3.25% FX fee} Cost per mile: 1.1 cents
Citi SMRT	5% cashback ^{• Online only (non-travel related) • Min. spend $500 per statement month • Up to $12,000 per membership year • 3.25% FX fee} Net gain: 1.5%
UOB Visa Signature	4 mpd ^{• Min. spend $1,000 per statement month • Up to $2,000 per statement month • 3.25% FX fee} Cost per mile: 1.1 cents
Maybank Family & Friends	8% cashback ^{• 5 bonus categories only • Min. spend $800 per calendar month • Up to $312.50 per category, per calendar month • 3.25% FX fee} Net gain: 4.5%
Citi Cash Back	6 – 8% cashback ^{• Dining & groceries (6%), fuel (8%) only • Min. spend $800 per statement month • Up to $1,333 per statement month} Net gain: 2.5 – 4.5%
ICBC Global Travel	3% cashback ^{• 2.5% FX fee} Net gain: 0.5%
Trust Link	No foreign currency fee + 0.22% cashback ^{• No annual fee, ever} Net gain: 0%
YouTrip	No foreign currency fee ^{• No annual fee, ever} Net gain: 0%
Maybank World	2.8 – 3.2 mpd ^{• Min. spend $800 per calendar month for 2.8 mpd • Min. spend $4,000 per calendar month for 3.2 mpd • 3.25% FX fee} Cost per mile: 1.4 – 1.6 cents
Maybank Horizon	2.8 mpd ^{• Flights up to $10k per calendar month, others uncapped • Min. spend $800 per calendar month • 3.25% FX fee} Cost per mile: 1.6 cents
Citi PremierMiles	2.2 mpd ^{• 3.25% FX fee} Cost per mile: 2 cents
HSBC TravelOne	2.4 mpd ^{• 3.25% FX fee} Cost per mile: 1.9 cents
UOB PRVI Miles	3 mpd (selected currencies) 2.4 mpd (others) ^{• 3.25% FX fee} Cost per mile: 1.5 – 1.9 cents

💡 Click on the + Card Summary buttons below to view the key details of each card.

Chocolate Card

Earn 2 mpd on almost everything, no FX fees