The Chocolate Card announced upcoming changes to earn rates, just 4 months after its launch.
Earn 1 mile per dollar
From 1 Jul 2025, the Chocolate Card will offer a default earn rate of 1 mile per dollar, a 50% drop from the previous earn rate of 2 mpd. The new earn rate is capped at S$1,000 worth of spending per calendar month.
Miles Multiplier
From 1 Jul 2025, cardholders can earn up to 2 mpd with the “Miles Multiplier”. To enjoy a multiplier on earn rate, cardholders will need to maintain an average daily balance (ADB) in the Chocolate account.
Your earn rate goes up by 0.05 mpd with every block of S$5,000 increment in ADB (combined of SGD and USD accounts), for a maximum earn rate of 2 mpd with a S$100k ADB.
Here’s how it works:
| Average Daily Balance | Multiplier | Total Earn Rate |
|---|---|---|
| Under S$5,000 | – | 1 mpd |
| S$5k to S$10k | +5% | 1.05 mpd |
| S$10k to S$15k | +10% | 1.1 mpd |
| S$15k to S$20k | +15% | 1.15 mpd |
| S$20k to S$25k | +20% | 1.2 mpd |
| . . . | . . . | . . . |
| S$95k to S$100k | +95% | 1.95 mpd |
| S$100k and above | +100% | 2 mpd |
Limit on bill payments
From 1 Jul 2025, bill payments with the following MCCs will earn a maximum of only 100 miles per calendar month.
| MCC | Description |
|---|---|
| 8011 – 8099 | Medical & Health |
| 9311 – 9399 | Government Services |
| 4900 – 4999 | Utilities |
| 6513 – 6531 | Real Estate & Property Management |
| 6300 – 6399 | Insurance |
| 7311 – 7399 | Business Services (incl. points.com transactions when buying miles) |
Is the Chocolate Card still good?
The Chocolate Card was never good for general SGD spending, other than bills. Unfortunately, due to the ridiculous foreign transaction fees (>3%) imposed by most Singapore credit cards, it has positioned itself as one of the best cards for foreign currency spending.
I was a Chocolate Account user before the Chocolate Card was released, and I simply don’t like how the Chocolate Card has direct access to my investment. If you’ve been making online payments for a few years, you should be aware that it’s not uncommon to be a victim of fraudulent transactions. On average, I get about 2 of such transactions per year, and I certainly don’t want such an issue affecting my investment, especially through a Debit card.
Related: Should you continue using the Chocolate Card to earn Max Miles?
All things considered, the Chocolate Card x HeyMax collab is becoming too complicated, too risky, too unsustainable, too unstable. Will you still use the Chocolate Card from 1 Jul 2025? Share your thoughts in Suitesmile Chat.
