Why All Singaporeans (Even Cashback Lovers) Should Apply For A minumum of one Air Miles Card
By now, most of you should know it makes financial sense to be using a charge card over cash. So long as you have financial discipline (i.e. pay your bills promptly, don't overspend), not making use of your charge card when you can is simply plain silly. Using your charge card allows you can enjoy discounts, promotions, cashback and of course, earn you air miles.
In Singapore, there's two main camps that people find themselves on with regards to card benefits are miles and cashback. We wrote about this previously and explained why a miles card would usually deliver better “cash spent to profit received” value.
We are not stating that there isn't any place in your bank account for a cashback card, or perhaps multiple cashback cards. Most of us have them and that we wouldn't be surprised if even Aaron from The MileLion has at least one cashback card with him.
But whenever you look at the best mixture of credit cards that people have (read this article to discover a lot of our reader's best credit cards combinations), you knows that every great mixture of credit cards that an individual uses would consist of a minumum of one (if not more) air miles credit card.
And if you don't curently have an aura miles charge card yet, we'll explain why January 2021 may be the best time for you to make an application for one.
Yes, even if you are a cashback diehard like Budget Babe is, you need to still own at least one air miles charge card.
# 1 You like Many Free Benefits
Similar to a lot of charge cards in Singapore, it always costs you nothing to make an application for an air miles charge card. Yet, you will enjoy many free benefits when you own one.
For example, in the airmiles vs cashback promotion which SingSaver is running from now till 31 January 2021, you can get $150 cash upon card approval, and $20 NTUC FairPrice vouchers when registering via MyInfo, if you subscribed to the American Express Singapore Airlines KrisFlyer Credit Card.
So you essentially get $170 free! And while we do not think the economy is that bad, we have not come across anyone (yet) who would knowingly say no to lots. Don't be the first.
Beyond only the free money (and vouchers), American Express will also give you 5,000 free miles upon the first spend on your charge card, as well as an additional 7,500 bonus miles should you spend $3,000 within the first 3 months (extremely achievable for many working adults, even frugal ones).
What what this means is is when spent $3,000 inside the first 3 months of card approval, you'd earn 15,800 miles – enough for a round-trip economy class ticket to Bali on Singapore Airlines.
So should you and your partner are looking to travel somewhere near by, all that you should do is to use for an American Express Singapore Airlines KrisFlyer Credit Card each, generate the free $340 welcome gift (for two cards) and spend $3,000 each inside the first three months to earn on your own a set of round-trip economy class tickets on Singapore Airlines to Bali.
Flight for your honeymoon destination settled.
# 2 You get More When It Comes To Big Ticket Items
As much as we loved a lot of our cashback cards, the fact is that they pale in comparison in comparison with while using right air miles charge card.
Let's for example take the UOB PRVI Miles Visa Card. If we assume you and your spouse want to visit Taiwan for any 10-day getaway. Much like many travelers, you book your accommodations through Agoda or Expedia and spent as many as $2,800.
The UOB PRVI Miles Visa Card allows you to definitely earn 6 miles for each S$1 allocated to major airlines or hotels. Which means that simply by booking your accommodation, you'd already earn for yourself 16,800 miles. Add this to the 15,800 miles that you simply already earned in your American Express Singapore Airlines KrisFlyer Credit Card and you are looking at 32,600 miles – enough to redeem one round-trip economy class ticket on Singapore Airlines to Taiwan.
Look at it by doing this. By spending just $5,800, you can redeem a round-trip economy class ticket on Singapore Airlines to Taiwan that is worth between $500-$600. We don't think any cashback card will be able to deliver you such a great cash spent to benefit value (please let us know if we are wrong).
Other details about the UOB PRVI Miles Visa Card: You earn 1.4 miles per $1 spend locally and 2.4 miles on every $1 spent overseas.
Also, should you subscribe to the UOB PRVI Miles Visa Card by 31 January 2021 throughout the SingSaver Air Miles vs Cashback challenge, additionally, you will get an additional $50 cash from SingSaver.
# 3 The additional Incentive Should you Time The application To Coincide With A Big-Ticket Purchase Is fairly Unbeatable
Every once in a while, we incur big-ticket expenditure. For example, if you are planning for the wedding, you will incur additional expenses that you would not normally incur.
For these big-ticket spending, we doubt anyone would want to use their usual cashback cards. No offence but if you need to do, you are not being clever. Let's explain why.
Imagine if you as well as your partner both obtain a Citi PremierMiles Visa Card each. Should you pay for the annual fee (we all know what you're thinking but trust us, it is worth paying for this) and spend a total of $7,500 each inside the first three months, you'll receive 30,000 bonus miles each, or 60,000 as a whole.
This is on top of the 1.2 miles you will earn for every $1 spend (9,000 miles each).
To reiterate, here's what you need to be doing.
# One time the application such that you apply for your Citi PremierMiles Visa Card just a few weeks prior to you making your big-ticket expenditure.
# 2 Split the big-ticket expenditures such that you simply as well as your partner acquire a minimum spending of at least $7,500 per card. Most retailers, hotels or restaurants will be quite happy to do this for you personally.
# 3 Pay for the annual fee. Do NOT keep these things waive this for you personally (they would willingly achieve this if you request for it).
Other notable occasions: Buying furniture and electronics before moving in to a different home; planning a foreign holiday; delivering a baby
In total, you and your partner would receive 78,000 miles after three months. This really is enough for you to redeem two one-way business class flights on Singapore Airlines to Maldives, which for many people regular folks, will be a once-in-a-lifetime experience that no cashback card can ever give.
If you have the Citi PremierMiles Visa Card, you obviously can't do that again. However, you can use exactly the same trick using the American Express Singapore Airlines KrisFlyer Ascend Charge card instead.
If you apply for any Citi PremierMiles Visa Card through SingSaver, you will receive $200 cash voucher (New Citi customer only) from SingSaver. Existing Citi customers will get $30.
Apply To have an Air Miles Card Today
Don't get us wrong. We're not deriding cashback fanatics and their schoolboy crush on cashback cards. We ourselves used them.
The point here however is the fact that even if you are a cashback fanatic, it still makes financial sense to possess at least one air miles credit card. Because of the right usage, you (and your partner) may be in for an amazing holiday experience.
As exactly what the MileLion will say, “Travel Better For Less”
