Credit Cards Reward Points Redemption Rates Comparison

 

Credit Cards Air Miles Redemption Rates

Reward Points Credit Cards Flexibility

While often seen as the poorer cousins of Cashback credit cards, Reward points credit cards are actually much more flexible than their well-publicised peers. Reward points can be used to redeem cash credit, air miles or vouchers from various merchants. Reward points credit cards also usually do not have any monthly minimum spend and a pretty high or no limit to the number of points earn.

Credit Cards Reward Points Redemption Options

The best way to utilise Reward points is to redeem them for air miles, followed by vouchers if you intend to shop at the specific merchants that link up with the Reward programme. The worst way to utilise Reward points is to redeem them for cash credit unless your credit card allows you to redeem cash credit at a better rate commonly seen among higher-end cards.

With redemption rates for air miles to be more or less the same (2.5 reward points for 1 air mile or other equivalent ratio depending on earn rate) and redemption rates for merchant vouchers not a fair comparison considering the large number of merchants around, one can safely say that redemption rates for cash credit is the best way to compare Reward points by the various card-issuers.

sponsored links

Singapore Credit Cards Reward Points Redemption Rates Comparison Table

Credit Card Issuer Default Earn Rate /
Redemption Rates /
Expiry
Cashback Rate

ANZ Credit Cards

- 1 Reward point for every $5 spent
- 520 Reward points for $10 Credit
- 5 years from card account creation. Some cards with no expiry.

0.385% Cashback

Maybank Credit Cards

- 1 TREATS point for every $1 spent
- 16,000 TREATS points for $50 Credit
- 1 year from earned quarter. Some cards with no expiry.

0.313% Cashback

StanChart Credit Cards

- 1 Reward point for every $1 spent
- 32,000 Reward points for $100 Credit
- 36 months from earned month

0.313% Cashback

Amex Credit Cards

- 2 Membership Reward point for every $1.60 spent
- 2,100 Membership Reward points for $10 Credit
- No expiry

0.30% Cashback

HSBC Credit Cards

- 1 Reward point for every $1 spent
- 20,000 Reward points for $50 Credit
- 37 months from earned month

0.25% Cashback

Citibank Credit Cards

- 1 Citi$ for every $1 spent
- 4,200 Citi$ for $10 Credit
- 5 years from card account creation. Some cards with 1 year expiry or no expiry.

0.238% Cashback

UOB Credit Cards

- 1 UNI$ for every $5 spent
- 2,000 UNI$ for $20 Credit
- 2 years from earned quarter

0.20% Cashback

DBS Credit Cards

- 1 DBS Point for every $5 spent
- 1,200 DBS Points for $10 Credit
- 1 year from earned quarter

0.167% Cashback

OCBC Credit Cards

- 1 OCBC$ for every $1 spent
- Not Redeemable for Credit
- 2 years from earned month

Not Applicable

Low Redemption Rates for Cash Credit

The redemption rates for cash credit and hence cashback rates seemed pathetically low in the comparison table above which makes you wonder if there is any point in doing the comparison at all. However do note that the default earn rates in the table above are for the average credit cards (for eg. Classic cards) and it is perfectly possible to find higher end cards that earn 10 times or even 20 times the default earn rate and hence cashback rate.

Some notable cards include Citibank Reward Card which awards 10X Citi$ (2.38% cashback) for all shopping, American Express Platinum Card which awards 10X Membership Reward points (3% cashback) at Platinum EXTRA Partners, OCBC Titanium Reward Card which awards 10X OCBC$ (2.78% cashback, Titanium card exclusive) for shopping and mobile payments and the UOB Visa Signature Card which awards 10X UNI$ (5% cashback) for overseas and online transactions in foreign currencies, petrol and Visa payWave. Do check out Reward points credit cards for other cards with superior Reward points earn rate.

 

Comments on Singapore Credit Cards Reward Points Comparison

 

sponsored links

Featured Cards

UOB One Card

UOB One Card Receive up to 5% cash rebate on everything you buy and up to 24% savings on petrol. Apply and receive $80 cash credit.

OCBC Frank Card

OCBC Frank CardEnjoy 6% cash rebate online and up to 5% cash rebate on entertainment. Apply and receive $50 rebate.



sponsored links

Facebook & Search
money lobang facebook page

Subscribe to our Newsletter

Be the first to know about the latest promotions for bank deposits, credit cards and online discounts.


Recommended Review

Best Singapore Cashback Credit Cards with Dining Promotions

Best Singapore Cashback Credit Card with Dining PromotionsSingaporeans love to eat. Eating is an unofficial national hobby and contributes...


Discount Codes

Reebonz Singapore Coupon Codes

Reebonz Coupon Discount Codes Reebonz Singapore Coupons SaleGet up to 25% off luxury products such as LV, Hermes, Chanel, etc with our exclusive Reebonz coupon codes



All About Money

Singapore Savings Bonds

Singapore Savings BondsSingapore Savings Bonds (SSBs) are a type of specially-issued Singapore Government Securities...