I’ve been meaning to write an updated post on my valuation of a mile, but it seems like every time I’m about to publish it, something new pops up. Whether it’s Citi launching Payall, SCB copying with EasyBill, UOB slashing the cost of miles on Visa Infinite cards, or CardUp reducing rental payment fees (with RentHero due to follow suit shortly), the cost of buying miles in Singapore keeps falling.
And it’s about to get even cheaper…
UOB cuts PRVI Pay cost to 1.8% for selected PRVI Miles cardholders
UOB PRVI Miles cardholders have access to a facility called UOB PRVI Pay, which basically lets them buy as many miles as they want* for a small admin fee, no questions asked.
*(technically it’s still subject to your credit limit, but there’s nothing stopping you from paying off your bill immediately and buying more)
Here’s a reminder of how PRVI Pay works:
When PRVI Pay first launched in July 2017, miles cost 2 cents each. In March 2019, UOB increased the cost to 2.1 cents. But in recent days, selected PRVI Miles cardholders have been receiving mails from UOB inviting them to use PRVI Pay for just 1.8 cents per mile.
That’s a 15% discount off the usual price, and certainly worth considering if you have travel plans in the near future. If you were targeted, you’ll need to submit your form by 31 July 2019. The full T&C of this promotion can be found here.
Remember that you technically earn UNI$, not miles, so you have the option to choose either KrisFlyer or Asia Miles.
How does this compare to other methods of buying miles?
It says something about the rate at which miles buying opportunities are proliferating in Singapore that this table gets longer all the time, but here goes…
|Method||Income Required||CPM||Annual Miles Limit|
|SCB Visa Infinite Tax Payment (Spend >$2K p.m)||$150K||1.14||Tax bill|
|UOB Reserve/DBS Insignia with RentHero||Invitation||1.14||Rental amount|
|HSBC Visa Infinite Tax Payment (Spend >$50K p.a in prev year)||$120K||1.2||Tax bill|
|BOC Elite Miles World Mastercard with RentHero||$30K||1.21||Rental amount|
|HSBC Premier MC Tax Payment||AUM: $200K||1.25||Tax bill|
|Citi PayAll with Citi Ultima||Invitation||1.25||Bill amount|
|UOB PRVI Miles/SCB Visa Infinite (>$2K p.m)/UOB Visa Infinite Metal with RentHero||UOB PRVI Miles: $30K|
SCB Visa Infinite/ UOB Reserve: $150K
|HSBC Visa Infinite Welcome Gift- Premier customer||$120K + AUM $200K||1.39||35K|
|SC EasyBill with SCB Visa Infinite (Spend >$2K p.m)||$150K||1.43||Bill amount|
|HSBC Visa Infinite Tax Payment (Spend <$50K p.a in prev year)||$120K||1.5||Tax bill|
|DBS Altitude with RentHero||$30K||1.51||Rental amount|
|Citi PayAll with Citi Prestige/Citi PremierMiles AMEX||Citi Prestige: $120K|
Citi PremierMiles AMEX: $80K
|SCB Visa Infinite Tax Payment (Spend <$2K p.m)||$150K||1.6||Tax bill|
|Citi PayAll with Citi PremierMiles Visa||$30K||1.67||Bill amount|
|SCB Visa Infinite Welcome Gift||$150K||1.68||35K|
|CardUp with BOC Elite Miles World Mastercard||$30K||1.69||Bill amount|
|HSBC Visa Plat/Revolution Tax Payment||$30K||1.75||Tax bill|
|Citibank PremierMiles AMEX Annual Fee||$80K||1.78||15K|
|Cardup with UOB PRVI Miles||$30K||1.81||Bill amount|
|HSBC Visa Infinite Welcome Gift- Regular Customer||$120K||1.86||35K|
|OCBC VOYAGE Tax Payment||$120K||1.9||Tax bill|
|UOB Reserve VI Payment Facility||Invitation||1.9||Unlimited|
|Citibank PremierMiles Visa Annual Fee||$30K||1.93||10K|
|DBS Altitude AMEX/Visa Annual Fee||$30K||1.93||10K|
|KrisFlyer UOB Credit Card Annual Fee||$30K||1.93||10K|
|OCBC VOYAGE Payment Facility||$120K||1.9 or 1.95||Unlimited|
|UOB Metal VI Payment Facility||$150K||2.0||Unlimited|
|UOB PRVI Pay Facility||$30K||2.0 (until 30 Sept 19)||Unlimited|
|SC EasyBill with SCB Visa Infinite (Spend <$2K p.m)||$150K||2.0||Bill amount|
|Cardup with DBS Altitude/Citibank PM Visa||$30K||2.11||Bill amount|
|OCBC VOYAGE Annual Fee- Option 2||$120K||2.14||150K|
|Citi Prestige Annual Fee||$120K||2.14||25K|
|DBS Altitude Tax Payment||$30K||2.5||Tax bill|
|OCBC VOYAGE Annual Fee- Option 1||$120K||3.25||15K|
If you have specific bills to make like rent or income tax, you’ll want to consider options like:
- CardUp’s 1.99% income tax promotion
- CardUp’s 1.75/1.9% rental payment promotion
- RentHero’s 1.9% rental payment offer (I’ve been told this will be cut to 1.85% shortly, stay tuned)
- Citi PayAll
- SC EasyBill
all of which let you buy miles below 1.8 cents. However, if don’t have access to these options, or simply want to buy more miles than your NOA/rental bill will allow, then this is as cheap as it gets for someone at the $30K income level.
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