The MileLion’s 2022 Credit Card Strategy

⚠️ Update (9 Sep 22)

I’ve refreshed this article to reflect changes that have taken place since January. Links have been added to updated card reviews, and a new section added for wedding expenditure. Key points to note: DBS no longer awards points for Amaze transactions, effective 1 June 2022 OCBC Titanium Rewards annual 4 mpd cap updated to S$13,335 to reflect latest information UOB no longer awards points for utilities transactions, effective 1 August 2022 (except the UOB Reserve and UOB One)

As we kick off 2022, it’s never a bad idea to refresh your credit card game plan for the year ahead. Which cards should be your go-to options for miles? Which ones should be deprioritised, which ones cancelled? Just how many credit cards do you need, anyway?

Here’s my credit card strategy for the year ahead. 

2022 Credit Card Strategy: Overview

Broadly speaking, there are two types of credit cards out there:

• General spending cards
• Specialised spending cards

General spending cards earn a flat rate (usually 1.2-1.4 mpd) on all transactions, while specialised spending cards earn up to 4 mpd on certain categories of transactions.

If there’s one resolution you make this year, it should be to use your general spending card as little as possible.

With specialised spending cards covering such a wide range of transactions, it seems almost sinful to settle for the lower earn rates of a general spending card. Put it another way- someone who regularly utilises 4 mpd cards will earn his/her free holiday 3X faster than someone who puts everything on a 1.2 mpd card.

The goal, therefore, is:

💡 Maximize 4 mpd Opportunities 💡

Every time you use a general spending card for a specialised spending category, you’re leaving money on the table. 

Yes, it may mean applying for more than one credit card. Yes, it may be slightly less convenient.  Yes, your spouse may get annoyed when you nag them about using the right card. But I promise you this: no one ever moaned about having to carry multiple credit cards when kicking back in a Business Class seat with some pre-flight champagne. 

💳 2022 Credit Card Guide

Contactless Payments Dining Foreign Currency Offline Shopping Online Transactions Petrol Public Transport Weddings General Spending Troublesome Transactions

Contactless Payments: HSBC Revolution, UOB Preferred Platinum Visa, or UOB Visa Signature

Card	Earn Rate	Remarks
HSBC Revolution Apply	4.0 mpd	Max S$1K per c. month on dining, groceries, shopping, travel Review
UOB Pref. Plat Visa Apply	4.0 mpd	Max S$1,110 per c. month, must use mobile payments Review
UOB Visa Signature  Apply	4.0 mpd	S$1K-2K per s. month on contactless/ petrol Review
C. Month= Calendar Month, S. Month= Statement Month

Contactless payments aren’t a category of spending as such, more like a method. But since contactless terminals are so ubiquitous nowadays, earning 4 mpd on the vast majority of your transactions should be child’s play.

The UOB Preferred Platinum Visa (PPV) continues to be the go-to card here, earning 4 mpd on all mobile payment transactions except UOB$ merchants (previously known as SMART$), and UOB’s standard exclusion list (e.g.  hospitals, schools, government bodies). This is capped at S$1,110 per calendar month.

⚠️ UOB PPV: Use Mobile Wallet!

To earn 4 mpd on the UOB Preferred Platinum Visa, you must add the card to your mobile wallet and tap your phone; you won’t earn the bonus if you tap the physical card.

Those who regularly spend beyond the UOB PPV’s monthly cap can consider the UOB Visa Signature, which earns 4 mpd on contactless transactions with a minimum spend of S$1,000 per statement month on contactless and/or petrol transactions. This is capped at S$2,000 per statement month. 

⚠️ Statement Month vs Calendar Month

Your card’s 4 mpd cap may follow the calendar month or statement month. Calendar month is straightforward (i.e. 1-31 January), but statement month needs a little explaining. Generate your UOB e-statement and look for the statement date at the top right hand corner. This tells you what your statement month is; in the example below, it’s 12th to the 11th of the following month. The UOB Visa Signature’s 4 mpd cap resets at the start of the statement month. This adds an unnecessary level of confusion, but you can always call up customer service and ask them to change your statement date to follow the calendar month instead.

Alternatively, you can use the HSBC Revolution for 4 mpd on selected contactless payments, namely: 

• Airlines and hotels
• Department and retail stores
• Supermarkets, restaurants and food delivery
• Transportation (excluding public transport)

This is capped at S$1,000 per calendar month.

It’s not quite the “4 mpd everywhere” that the UOB cards offer, but still a very wide range of day-to-day merchants. Even better, it covers both restaurants and hotels, which means no more confusion about what card to use when you’re dining at a hotel. 

Dining: HSBC Revolution or UOB Lady’s Card/ UOB Lady’s Solitaire

Card	Earn Rate	Remarks
HSBC Revolution Apply	4.0 mpd	Max S$1K per c. month. Must use contactless Review
UOB Lady’s Card Apply	4.0 mpd	Max S$1K per c. month. Must choose dining as 10X category. Review
UOB Lady’s Solitaire Apply	4.0 mpd	Max S$3K per c. month. Must choose dining as 10X category. Review
C. Month= Calendar Month

Those who like eating out should arm themselves with either a HSBC Revolution or UOB Lady’s Card. I much prefer these over the Maybank Horizon Visa Signature, because not only are the earn rates better (4 mpd vs 3.2 mpd), the definition of dining is broader.

Comparison of Dining Card MCC Coverage
	HSBC Revo (4 mpd)	UOB Lady’s Card (4 mpd)	MB Horizon (3.2 mpd)
5811	✅	✅
5812	✅	✅	✅
5813	✅
5814	✅	✅
5441	✅
5462	✅
5499	✅	✅
Examples
MCC 5811: Caterers (Eatz, Stamford) MCC 5812: Eating Places and Restaurants (Crystal Jade, Paradise) MCC 5813:  Bars and Nightclubs (Brewerkz, Brotzeit) MCC 5814: Fast Food Restaurants (McDonald’s, KFC) MCC 5441: Candy, Nut and Confectionery (Candy Empire, See’s Candies) MCC 5462: Bakeries (Bengawan Solo, Four Leaves) MCC 5499: Misc. Food Stores (Famous Amos, Nespresso)

The UOB Lady’s Card is only available to women, but a simple workaround is to get your wife/girlfriend/wife and girlfriend to apply for the card, then add it to your mobile wallet. If possible, go for the UOB Lady’s Solitaire Card (min. income: S$120K), because it offers two bonus categories and a 4 mpd cap of S$3K per calendar month. 

Sadly, 2021 saw the demise of the UOB Preferred Platinum AMEX, which had been a dependable dining card for many years. Goodnight sweet prince. 

Foreign Currency (FCY): Amaze or UOB Visa Signature

Card	Earn Rate	Remarks
Amaze + Citi Rewards Apply	4.0 mpd	Max $1K per s. month
UOB Visa Signature Apply	4.0 mpd	Min S$1K Max S$2K per s. month on FCY spending Review
C. Month= Calendar Month, S. Month= Statement Month

In 2021, Instarem shook up the market for overseas card spending with the introduction of the Amaze. This card allows you to earn up to 4 mpd + 1% cashback on all foreign currency (FCY) spending, with zero FCY fees- what’s there not to like?

Unlike Revolut or YouTrip, Instarem does not use a prepaid wallet to fund Amaze. Instead, users link up to five Singapore-issued Mastercard credit or debit cards to Amaze, and select a default one to be charged at the time of transaction.

In that sense, transactions are a two-step process, with Amaze working as a passthrough.  First your Amaze card is charged, then the underlying credit/debit card is charged.

By pairing the Amaze with a Citi Rewards, you can earn 4 mpd on all foreign currency transactions, subject to the usual MCC exclusions. Unfortunately, DBS nerfed Amaze transactions from 1 June 2022 onwards, which eliminates the DBS WWMC as a potential pairing option. 

That said, there are still other solid alternatives, as summarised in the article below.

After the nerf: My new Instarem Amaze Card strategy

There’s absolutely no reason not to use Amaze, but for those who insist on an alternative, try the UOB Visa Signature. This earns 4 mpd on FCY spending, provided:

• you spend at least S$1,000 in FCY in a given statement month, and
• the payment processing is done outside of Singapore

The 4 mpd is capped at S$2,000 of FCY per statement month, and is shared with the 4 mpd cap for contactless payments/petrol. For a more detailed explanation of the caps, refer to my review of the UOB Visa Signature.

Offline Shopping: HSBC Revolution, Citi Rewards or OCBC Titanium Rewards

Card	Earn Rate	Remarks
HSBC Revolution Apply	4.0 mpd	Max S$1K per c. month. Must use contactless Review
Citi Rewards Apply	4.0 mpd	Max S$1K per s. month Review
OCBC Titanium Rewards Apply	4.0 mpd	Max S$13.3K per m. year. Pink and Blue cards have their own cap Review
M. Year= Membership Year, S. Month= Statement Month

Why yes, my Gen Z friend. People still shop at brick-and-mortar stores. And when they do, they use the HSBC Revolution, Citi Rewards or OCBC Titanium Rewards for 4 mpd. 

I would, however, lean towards the OCBC Titanium for the following reasons:

• The OCBC Titanium Rewards has a relatively narrower range of 4 mpd categories compared to the Citi Rewards and HSBC Revolution, and as a general rule you should utilise the less flexible caps first
• The OCBC Titanium Rewards’ 4 mpd cap is based on membership year, so if you have a big-ticket item to purchase, you can burn your entire year’s cap (S$13.3K) at one go

If possible, OCBC Titanium Rewards cardholders should try and get their hands on an OCBC Premier Visa Infinite. This no-fee card offers free conversions to KrisFlyer, and since OCBC$ are pooled, serves as a no-cost way of cashing out the OCBC$ from the Titanium Rewards. 

Online Transactions: Citi Rewards or DBS Woman’s World Card

Card	Earn Rate	Remarks
Citi Rewards Apply	4.0 mpd	Max S$1K per s. month, excludes travel Review
DBS WWMC Apply	4.0 mpd	Max S$2K per c. month Review
C. Month= Calendar Month, S. Month= Statement Month

Why yes, my boomer friend. People can shop on the interweb now. And when they do, they use the Citi Rewards or DBS WWMC for 4 mpd.

Like contactless payments, online transactions are another big catch-all category. Just think of how many online transactions you typically make in a given month: movie tickets, Grab rides, Deliveroo, Lazada shopping, Netflix subscriptions etc.

So long as it isn’t in the bank’s general list of exclusions (e.g. insurance, government), all online transactions will earn 4 mpd with the Citi Rewards (except travel) or DBS WWMC. 

❓ Blacklist vs Whitelist

You could certainly use the HSBC Revolution or UOB Preferred Platinum Visa, but it’s important to remember these cards follow a “whitelist” approach- a given online transaction doesn’t earn 4 mpd unless its MCC falls within the inclusion list.  Contrast this with the Citi Rewards and DBS WWMC, which follow a “blacklist” approach- a given online transaction will earn 4 mpd unless its MCC falls within the exclusion list.

If you’re using the Citi Rewards Card, remember not to use it for in-app mobile wallet payments, because you won’t earn any bonus. For example, using your Citi Rewards Card with Deliveroo directly would earn 4 mpd, but using your Citi Rewards Card with Deliveroo via Google Pay would earn only 0.4 mpd. 

Petrol: Maybank World Mastercard, UOB Visa Signature or UOB Lady’s Card

Card	Earn Rate	Remarks
Maybank World Mastercard Apply here	4.0 mpd
UOB Visa Signature Apply	4.0 mpd	Min S$1K Max S$2K on petrol + contactless per s. month Review
UOB Lady’s Card Apply	4.0 mpd	Max S$1K per c. month. Must choose transport as 10X category Review
UOB Lady’s Solitaire Apply	4.0 mpd	Max S$3K per c. month. Must choose transport as 10X category Review
C. Month= Calendar Month, S. Month= Statement Month

Although I feel the best card for petrol is the one that gives the biggest discount, if you’re just looking at miles then it’s a toss up among the Maybank World Mastercard, the UOB Visa Signature, or the UOB Lady’s Card.

The Maybank World Mastercard is probably the best choice, because you don’t have to deal with minimum spending or merchant restrictions. Plus, you can apply for the Corporate Fuel Card and enjoy 15% off petrol at Shell. 

If you prefer to stick with UOB, then the UOB Visa Signature will earn 4 mpd on petrol, provided you spend at least S$1,000 on contactless payments and/or petrol in a given statement month. UOB Lady’s Card members can earn 4 mpd on petrol as well, provided they choose transport as their quarterly 10X bonus category. 

UOB cardholders will need to avoid Shell and SPC though, because these merchants will not earn UNI$.

Public Transport: SCB Smart Card or UOB Lady’s Card

Card	Earn Rate	Remarks
SCB Smart Card Apply	Up to 7.7 mpd	Max S$818 per s. month
UOB Lady’s Card Apply	4.0 mpd	Max S$1K per c. month. Must choose transport as 10X category Review
UOB Lady’s Solitaire Apply	4.0 mpd	Max S$3K per c. month. Must choose transport as 10X category Review
C. Month= Calendar Month, S. Month= Statement Month

Public transport won’t be a huge component of your monthly expenditure, but it’s still a category worth optimizing. 

Last year saw the launch of the Standard Chartered Smart Card, which despite its rather unimaginative name, packs a mighty wallop of up to 7.7 mpd on bus/MRT rides charged via SimplyGo. 

❓ “Up to” 7.7 mpd

The earn rate of 7.7 mpd only applies if you have a Standard Chartered X Card or Visa Infinite. Otherwise, you’ll earn 5.6 mpd. For a detailed explanation why, refer to this link.

Otherwise, a fallback option would be the UOB Lady’s Card/Lady’s Solitaire Card for 4 mpd, with transport selected as the quarterly 10X category. 

Weddings

Getting hitched in 2022? Well done, you. 

Assuming you’ve already maxed out your sign-up bonuses, you can use the following cards to pay off S$11,220 of your banquet amount each month, earning 44,880 miles in the process. 

Monthly Banquet Payments
	🤵 Him	👰 Her
UOB Pref. Plat. Visa Apply	S$1,110	S$1,110
UOB Visa Signature  Apply	S$2,000	S$2,000
UOB Lady’s Solitaire Apply	N/A	S$3,000
HSBC Revolution Apply	S$1,000	S$1,000
Total Spend	S$4,110	S$7,110
Total Miles	16,440	28,440

For more details, refer to the dedicated post I wrote on the topic. 

2022 Edition: Best Credit Cards for Weddings

General Spending: AMEX HighFlyer Card or UOB PRVI Miles

Card	Earn Rate	Remarks
AMEX HighFlyer CardApply	1.8 mpd	Only available to SME owners
UOB PRVI Miles Apply	1.4 mpd (local) 2.4 mpd (overseas)	Awarded per S$5 of spending Review

In July last year, Singapore Airlines doubled the value of HighFlyer points, which turned the AMEX HighFlyer Card from unexciting also-ran into one of the best general spending cards on the market (1.8 mpd on all local and overseas spend). 

My preferred approach is to use this card to top-up a GrabPay account, then spend via the GrabPay Mastercard. This way, I can earn 1.8 mpd + GrabRewards points, at no incremental cost. It’s also an easy way of getting around American Express’ sometimes limited merchant acceptance.

Don’t forget, you can also use a GrabPay card to pay bills with AXS, which means 1.8 mpd on normally-excluded categories like insurance, town council bills, MCST fees, income tax etc.

The main catch is that the AMEX HighFlyer Card is not a consumer card; it’s intended for owners of SMEs. Applications require an ACRA business registration number, so it won’t be an option for everyone.

In that case, I’d default to the UOB PRVI Miles (or the DBS Vantage for 1.5/2.2 mpd, if you meet the income requirement), although do remember that your general spending card is a card of last resort. Save it for occasions where 4 mpd opportunities don’t exist. 

While the DBS Altitude/ Citi PremierMiles/ OCBC 90°N Card will earn slightly fewer miles at 1.2 mpd, I don’t see much harm in using them either. Ideally, you’d be putting minimal spending on your general spending cards anyway, and a 0.2 mpd difference should not be too material. 

⚠️Don’t forget rounding!

In fact, despite its lower earn rate of 1.2 mpd, the Citi PremierMiles Card might be a better option  for smaller transactions than the UOB PRVI Miles thanks to its more generous rounding policy.

Of course, if you earn enough to qualify for one of the 1.6 mpd general spending cards such as the Citi ULTIMA, UOB Reserve, DBS Insignia or Premier/Private Banking versions of the OCBC VOYAGE, by all means go ahead and use it.

“Troublesome transactions”

There are a few categories of what I call “troublesome transactions”, generally excluded from rewards by most if not all banks. 

Examples include:

• 💗 Charitable Donations
• 🏫 Education
• 🏣 Government Payments
• 🏥 Hospital Bills
• ☂️ Insurance
• 🚰 Utilities Bills

These aren’t lost causes, however. There are two ways to get something out of such payments. 

UOB Absolute Cashback Card + GrabPay Mastercard

The first way is to use the UOB Absolute Cashback Card to top-up a GrabPay wallet, then pay for the transaction with a GrabPay Mastercard (or via AXS). You’ll effectively earn 1.7% cashback (plus Grab points, provided the MCC isn’t on Grab’s exclusion list), which may not be that exciting, but certainly better than walking away empty handed. 

Since I have access to the AMEX HighFlyer Card, I use that for my GrabPay top-ups instead and earn 1.8 mpd. 

Use a bill payment service

The second way is to use a bill payment service, which allows you to earn credit card miles on “troublesome transactions”, in exchange for a small fee. 

Provider	Fee	Cost Per Mile*
Pay + Earn	2.5%	1.52-2.50
	2.25% (code: GET225) S$30 off first payment with code: MILELION	1.38-1.83
	2%	1.25-1.67 (only for Citi cards)
	1.9%	1.36-1.9 (only for SC cards)
*Based on general spending cards with earn rates of 1.2 to 1.6 mpd

You can use these services to pay things like tax, insurance, rent, tuition bills, MCST fees, season parking, donations, utilities bills and more.

Do look out for periodic promotions that can bring down the cost of miles even further. 

Pulling double duty

While the sheer number of cards mentioned above may seem intimidating, the good news is that many can pull double duty. For example, a HSBC Revolution would take care of your dining, grocery and travel expenses, while a UOB PPV would be a simple solution for anywhere that accepts mobile payments.

If you told me I could have four cards and no more, my picks would be:

1. UOB PPV (for all mobile payments at physical merchants)
2. Citi Rewards (for all online transactions)
3. DBS WWMC (for all online transactions)
4. HSBC Revolution (for dining, grocery, travel and shopping transactions)

Is it possible to over-optimize?

As much as we want to maximize 4 mpd everywhere, is it possible to overdo it? 

Yes, definitely. The way I see it, there are two additional considerations:

(1) Conversion Fees

By spreading your cards across multiple banks, you’re collecting different points currencies and will have to pay more than one conversion fee. 

However, I’m not too worried about this. Conversion fees are annoying and we try to minimize them where we can, but paying them isn’t the end of the world. In the grand scheme of things, an extra S$25 fee here and there isn’t going to destroy the overall value proposition of the miles game.

Which credit cards don’t charge miles conversion fees?

Moreover, it doesn’t necessarily mean more cards = more fees. If you own multiple cards from the same bank, you may still pay only a single conversion fee, provided the points are pooled.

For example, there’s a UOB customer could hold a UOB PRVI Miles, UOB Preferred Platinum Visa, UOB Visa Signature and UOB Lady’s Card while paying only a single conversion fee. 

(2) Orphan Points

Orphans points are a bigger concern than conversion fees in my book. If you spread yourself too thin, you may end up in a situation where you’re optimizing on individual transactions, but not in an overall sense. 

To illustrate, suppose I drive very infrequently but get a Maybank World Mastercard just so I can earn 4 mpd on petrol. I may be optimizing on that particular transaction, but it counts for very little if I end up with a small chunk of TREATS points that I can’t cash out. 

Optimization is good, but you need to look at both the micro and macro picture. If you don’t spend a significant amount on a particular category, then consider using your general spending card instead. 

Conclusion

Spending categories may not always fall into neat little buckets, and may often overlap. For example, if you’re dining at an overseas restaurant, you could use the HSBC Revolution (dining) or the UOB Visa Signature (FCY) to earn 4 mpd. In a way that’s a good thing, because it helps reduce the number of cards you need to carry. 

I’d also advise you to utilise the more restrictive caps first. Since the UOB PPV can earn 4 mpd at any merchant with a contactless terminal, I’d rather use my HSBC Revolution to pay for lunch and conserve the PPV’s cap for non-dining venues. 

I’ve updated the “What Card Do I Use For…” guide, which provides more granular advice for certain categories. Do bookmark that page for further reference.

Any other cards you think should feature in the game plan? Sound out below.