Instarem announced a new junk fee for card-linked SGD transactions from 10 March 2025. As a result, all SGD spending will incur a 1% fee, with a minimum fee of 50 cents.
Yes, even if your transaction is for 1 cent, you will be charged the minimum 50 cent fee.
So, at what transaction amount is the Amaze + Citi Rewards combo actually worthwhile? I’ve broken down the numbers in the table below.
| Transaction Amount | Fee (%tage of transaction) | Cost per Mile (4 mpd) |
|---|---|---|
| $1 | $0.50 (50%) | 12.5 cents |
| $2 | $0.50 (25%) | 6.25 cents |
| $5 | $0.50 (10%) | 2.5 cents |
| $10 | $0.50 (5%) | 1.25 cents |
| $20 | $0.50 (2.5%) | 0.63 cents |
| $50 | $0.50 (1%) | 0.25 cents |
| $100 | $1 (1%) | 0.25 cents |
| $500 | $5 (1%) | 0.25 cents |
| $1,000 | $10 (1%) | 0.25 cents |
Firstly, you’d be out of your mind to use the Amaze + Citi Rewards combo for transactions under $5. Please don’t do this, and warn everyone you know, unless if you want to contribute to Instarem’s road to riches.
With a cost per mile of about 0.6 cents, a $20 transaction doesn’t look toooo bad, does it?
Opportunity cost
Contrary to popular belief, using a miles card is never truly “free”. Fees aside, there’s always a fuss-free cashback card that you could have used, instead of the miles card.
So, let me overcomplicate calculations a little: What if you include the opportunity cost of not using the simplest cashback card out there? One that has zero annual fee.
In the table below, I’ve taken the opportunity cost of 1.7% cashback that is offered by the Mari Card into consideration.
| Transaction Amount | Cost per Mile (4 mpd) |
|---|---|
| $1 | 12.9 cents |
| $2 | 6.68 cents |
| $5 | 2.9 cents |
| $10 | 1.68 cents |
| $20 | 1.05 cents |
| $50 | 0.68 cents |
| $100 | 0.68 cents |
| $500 | 0.68 cents |
| $1,000 | 0.68 cents |
So, when should you use the Amaze + Citi Rewards combo?
I need some time to mentally absorb this nerf, but I’ll likely only use it for SGD transactions above $50 from 10 Mar 2025. I know, it sounds really dumb to pay for miles on SGD spending and I won’t judge if you choose to stop using the Amaze card entirely.
However, the next best miles cards for smaller SGD transactions are not amazing either:
- UOB Preferred Platinum: Earn 4 mpd, but rounded down to $5 blocks
- Chocolate Card: Earn 2 mpd
- Citi PremierMiles: Earn 1.2 mpd
Additional reminder: This nerf only affects SGD spending. The Amaze + Citi Rewards combo is still one of the best cards out there for foreign currency transactions.
I’ll be rethinking my miles and credit card strategy in the coming days. Share your thoughts and updated card strategy in Suitesmile Chat!
Here’s a quick look at the the cards mentioned above:
💡 Click on the + Card Summary buttons below to view the key details of each card.
Citi PremierMiles
Earn 1.2 mpd on local spend, 2.2 mpd on foreign currency
