Money Lobang

Credit Cards Reward Points Redemption Rates Comparison

Credit Cards Reward Points Redemption Rates Comparison
Facebook Like Icon 0 people like this
Rating: 4 Stars4.7/5.0 (3 Reviews)

Last updated on 2023-05-20

1. What can you do with Credit Card Reward Points?

2. Credit Cards Rewards Points Redemption Options

3. Singapore Credit Cards Rewards Points Cash Redemption Rates Comparison

4. Is it Better to Redeem Points for Cash?

 

What can you do with Credit Card Reward Points?

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 although they are mainly used for miles redemption. 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 Rewards 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.

 

Singapore Credit Cards Rewards Points Cash Redemption Rates Comparison

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

OCBC VOYAGE Card

- 1.3 Voyage miles for every $1 spent
- 5,000  / 50,000 Voyage miles for $50 / $500 Credit
- Voyage Miles have no expiry

1.30% Cashback

OCBC 90°N Card

OCBC 90°N Visa Card

- 1.2 Travel$ for every $1 spent
- 1,000 / 10,000 Travel$ for $10 / $100 Credit
- Travel$ have no expiry

1.20% Cashback

DBS Altitude Cards

- 3 DBS Point for every $5 spent
- 1,200 / 5,000 / 20,000 / 25,000 / 40,000 / 54,000 / 80,000 / 100,000 DBS Points for $10 / $50 / $200 / $350 / $580 / $800 / $1,200 / $2,000 Credit
- DBS Altitude Cards DBS Points have no expiry.

0.50% / 0.60% / 0.60% / 0.84% / 0.87% / 0.89% / 0.90% / 1.20% Cashback

UOB PRVI Miles Cards

UOB Reserve Card

- 3.5 UNI$ for every $5 spent
- 8,700 UNI$ for $100 Credit
- 2 years from earned quarter

0.80% Cashback

Citibank PremierMiles Card

- 1.2 Citi Miles for every $1 spent
- 1,650 Citi Miles for $10 Credit
- Citi Miles have no expiry.

0.727% Cashback

Amex Credit Cards

- 2 Membership Reward point for every $1.60 spent
- 1,000 Membership Reward points for $4.80 Credit
- No expiry

0.60% Cashback

DBS Credit Cards

- 1 DBS Points for every $5 spent
- 1,200 / 5,000 / 20,000 / 25,000 / 40,000 / 54,000 / 80,000 / 100,000 DBS Points for $10 / $50 / $200 / $350 / $580 / $800 / $1,200 / $2,000 Credit
- 1 year from earned quarter.

0.167% / 0.20% / 0.20% / 0.28% / 0.29% / 0.30% / 0.30% / 0.40% Cashback

StanChart Credit Cards

- 1 Reward point for every $1 spent
- 32,000 Reward points for $100 Credit
- 36 months from card account creation. StanChart Visa Infinite Card and StanChart Journey Card Reward points have no expiry.

0.313% Cashback

StanChart Smart Card

- 1 Reward point for every $1 spent
- 3,200 Reward points for $10 Credit
- 36 months from card account creation

0.313% Cashback

Maybank Credit Cards

- 5 TREATS point for every $5 spent
- 17,000 TREATS points for $50 Credit
- 1 year from earned quarter. Maybank World MasterCard and Maybank Visa Infinite Card TREATS point have no expiry.

0.294% Cashback

OCBC Rewards Card

- 1 OCBC$ for every $1 spent
- 3,600 OCBC$ for $10 Credit
- 2 years from earned month

0.278% Cashback

HSBC Credit Cards

- 1 Reward point for every $1 spent
- 4,000 Reward points for $10 Credit
- 37 months from earned month

0.25% Cashback

UOB Visa Signature Card

- 1 UNI$ for every $5 spent
- 8,700 UNI$ for $100 Credit
- 2 years from earned quarter

0.23% Cashback

Citibank Credit Cards

- 1 Citi ThankYou Point for every $1 spent
- 4,400 Citi ThankYou Points for $10 Credit
- 5 years from card account creation.

0.227% Cashback

UOB Credit Cards

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

0.20% Cashback

OCBC Credit Cards

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

Not Applicable

 

Is it Better to Redeem Points for Cash?

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 ThankYou Points (2.27% cashback) for all shopping, American Express Platinum Card which awards 10X Membership Reward points (3% cashback) at Platinum 10Xcelerator Partners, OCBC Rewards 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$ (2.3% cashback) for overseas and online transactions in foreign currencies, petrol and selected contactless and mobile payments.

Add Review (* Required information)
Rate:
*

*

Min 20 characters

captchaReload Icon Reload Image

Verification Code *

3 Reviews
(Not all reviews shown on page. Search or Sort reviews to find review)
Rating:
4.7/5.0 (3)
Page:

Credit Cards Reward Points Redemption Rates Comparison Review

Search Reviews:
Sort By :
No data found