There are a lot of questions out there in Singapore about “if you could only have one air miles credit card, which would it be”?
It’s a hard question to answer because there are lots of cards out there in Singapore that give you 4 miles per dollar (4mpd) of spend, which is the least that you should be getting on your credit card spend.
But, in my view, here's the one air miles credit card I would get if I only wanted just one.
UOB Visa Signature – 4mpd on all contactless spend
It’s the UOB Visa Signature credit card, which gives you 4 miles per dollar on all contactless spend.
That means tapping to pay at a merchant (whether with your mobile or the actual physical card).
The cap on the 4mpd spend goes up to S$2,000 per statement month.
However, there is one downside for this card in that you have to spend a minimum of S$1,000 per statement month in order to earn the 4mpd.
But if you keep between the S$1,000 and S$2000 you're good. Here are three big reasons why this is the one card I would get.
1) Higher spending cap of S$2,000
First off, the higher spending cap of S$2,000 per statement month gives you more room to earn 4mpd (potentially up to 8,000 KrisFlyer miles if you hit the cap).
Meanwhile, a lot of popular cards out there actually have a maximum of S$1,000 on your 4mpd earning – think of the Citi Rewards card or the HSBC Revolution card.
So, the UOB Visa Signature’s higher spending cap gives you a bit more flexibility and the ability to accumulate more miles on your spend.
2) Versatility of contactless
There’s also the versatility of the UOB Visa Signature. I mean, whether we're eating out at a restaurant or buying an electronics product at Best Denki, you're bound to see a pay wave terminal wherever you go in Singapore.
That makes it a lot easier for you to earn on all your physical spend out there.
Another great thing about the UOB Visa Signature is that you can actually use it for overseas spending to earn 4 miles per dollar.
Say you're going on a big trip in one particular month you can just use that card solely for your overseas spending as long as you spend over $1,000 in foreign currency transactions during that statement month.
3) UOB pools bank points
Finally, there’s the fact that UOB allows you to pool your bank points, or UNI$.
We know that UOB has some great air miles earning cards besides the UOB Visa Signature – think of the UOB Preferred Platinum Visa or the UOB Lady’s card – so if you actually want to grow your air miles wallet from just one card at least there are other cards out there that allow you to earn more miles.
By then pooling those points together and then cashing them in one go, you’re paying less for transfer fees.
One of the downsides of Citi or HSBC is that they don't allow you to pool points across various cards that you have.
One Singapore air miles card for all occasions
If I had to have one credit card in Singapore that earns miles on a consistent basis, it’d be the UOB Visa Signature
I know this opinion is going to differ from person to person depending on your spending habits.
But if you're thinking further down the line and developing a strategy to grow the air miles credit cards that you have as you get older then the UOB Visa Signature is a great place to start.