Roundup: Credit card sign-up bonuses (July 2023)

Here’s The MileLion’s monthly roundup of the latest credit card sign-up bonuses in Singapore for July 2023. 

If you have any big ticket spending coming up, these bonuses could be an opportunity to rack up some extra miles or gifts, so plan your spending accordingly!

At a glance: Current sign-up bonuses

Here’s a summary of the current sign-up bonuses on the market, presented two ways: 

1. Payoff ratio
2. Cost per mile

Payoff ratio refers to the bonus miles divided by total spend (excluding annual fee). Basically: what’s the bang for your buck? For every S$1 of spend, how many miles do you get?

On that basis, here are are best sign-up offers. 

💳 Credit Card Sign-Up Bonuses (sorted by payoff ratio)
	Spend (AF)	Miles^	Payoff
Citi Prestige	S$800 (S$540)	48K	60
Citi Premier Miles	S$800 (S$194)*	30K	37.5
HSBC TravelOne Card	S$800 (S$194)	20K	25
UOB PRVI Miles Card	S$2K (S$259)*	45.2K	22.6
AMEX KrisFlyer Ascend	S$1K (S$340)	20.3K	20.3
Citi Rewards	S$800 (FYF)	16K	20
DBS Altitude AMEX	S$2K (S$194)*	31K	15.5
DBS Vantage	S$4K (S$594)	60K	15
DBS Altitude Visa	S$2K (S$194)*	25K	12.5
KrisFlyer UOB	S$2K (FYF)	25K	12.5
AMEX HighFlyer	S$8K (S$302)	60K	7.5
AMEX Platinum Credit Card	S$3K (S$324)	16.7K	5.6
AMEX Platinum Charge	S$15K (S$1,728)	71.9K	4.8
^Does not include base miles *Fee waiver option available, with smaller number of bonus miles. See below for full details.

Cost per mile refers to the bonus miles divided by annual fee. If you need to pay an annual fee as part of the sign-up bonus, you’re essentially paying for miles- the question is, how much?

On that basis, here are are best sign-up offers.

💳 Credit Card Sign-Up Bonuses (sorted by cost per mile)
	Spend (AF)	Miles^	Cost Per Mile
KrisFlyer UOB	S$2K (FYF)	25K	–
Citi Rewards	S$800 (FYF)	16K	–
AMEX HighFlyer	S$8K (S$302)	60K	0.50
UOB PRVI Miles Card	S$2K (S$259)*	45.2K	0.57
DBS Altitude AMEX	S$2K (S$194)*	31K	0.63
Citi Premier Miles	S$800 (S$194)*	30K	0.65
DBS Altitude Visa	S$2K (S$194)*	25K	0.78
HSBC TravelOne Card	S$800 (S$194)	20K	0.97
DBS Vantage	S$4K (S$594)	60K	0.99
Citi Prestige	S$800 (S$540)	48K	1.13
AMEX KrisFlyer Ascend	S$1K (S$340)	20.3K	1.68
AMEX Platinum Credit Card	S$3K (S$324)	16.7K	1.94
AMEX Platinum Charge	S$15K (S$1,728)	71.9K	2.40
^Does not include base miles *Fee waiver option available, with smaller number of bonus miles. See below for full details.

Ultimately, both sets of ranking criteria have a common shortcoming: they only look at miles. Some of these cards have additional benefits like free hotel nights or airport lounge access, which you’ll also need to factor into your decision. 

For instance, the AMEX Platinum Charge has the highest cost per mile at 2.76 cents apiece, and indeed, if miles were the only benefit, you’d be silly to pay that price. But you need to factor in the value of other perks like unlimited lounge visits, free hotel stays, S$1,354 of annual statement credits, dining vouchers etc. 

Therefore, it’s always advisable to read through each of the sign-up bonus articles and The MileLion’s Card Reviews before coming to a decision.

AMEX HighFlyer Card

AMEX HighFlyer Card (Offer Ends: 26 Jul 23)
Apply
Details
	New & Existing
Annual Fee	S$301.80 (must be paid)
Spend	S$8,000
Spend Period	180 days
Base Miles	14,400
Bonus Miles	60,000
Total Miles	74,400
Applicants who have cancelled the AMEX HighFlyer Card previously for the same company are not eligible.

New AMEX HighFlyer Cardholders who submit their applications by 26 July 2023 (with approval by 30 September 2023) will receive:

• 30,000 HighFlyer points with a minimum spend of S$4,000 between months 1-3 after approval
• 30,000 HighFlyer points with a minimum spend of S$4,000 between months 4-6 after approval

On top of this, they’ll earn 14,400 HighFlyer points for spending S$8,000 (based on 1.8 HighFlyer points per S$1).

The S$301.80 annual fee must be paid. There is no requirement that you be new-to-AMEX; the offer applies even if you hold an existing AMEX consumer card. Applicants who have cancelled the AMEX HighFlyer Card previously for the same company are not eligible. 

Unfortunately, there’s no more first year fee waiver option available for the AMEX HighFlyer Card. While this was a common feature throughout 2021 and 2022, American Express is tightening the purse strings- I can’t imagine it was very profitable to offer a fee waiver on a card that comes with a free Accor Plus membership, after all. Likewise, ever since 4 April 2023, it’s no longer possible to earn miles on GrabPay top-ups.

That said, the AMEX HighFlyer Card does come with a complimentary Accor Plus Explorer membership with a 1-night hotel stay and up to 50% off dining. If you’re interested in this, then the AMEX HighFlyer Card’s S$301.80 annual fee represents a ~30% discount to the usual retail price of S$418. 

AMEX KrisFlyer Ascend

AMEX KrisFlyer Ascend (Offer Ends: 31 Jul 23)
Apply
Details
	New	Existing
Annual Fee	S$340.20 (must be paid)	N/A
Spend	S$1,000
Spend Period	30 days
Base Miles	1,200
Bonus Miles	20,300
Total Miles	21,500
New customers are defined as those who do not currently hold a principal AMEX consumer card (DBS, Citi and UOB-issued AMEX cards do not count, nor does the AMEX HighFlyer Card) and have not cancelled an AMEX KrisFlyer Ascend Card in the past 12 months

New-to-bank customers who sign up for an AMEX KrisFlyer Ascend Card by 31 July 2023 (with approval by 14 August 2023) will enjoy 20,300  bonus miles when they pay the S$340.20 annual fee and spend S$1,000 within 30 days of approval. Assuming you clock the minimum spend on local transactions, you’ll earn a further 1,200 base miles (@ 1.2 mpd).

Do note that the calculations assume that this is your first-ever American Express Singapore Airlines cobrand card. If you have held one in the past, you need to deduct 5,000 miles from the bonus component. 

While the first year’s annual fee cannot be waived, you’ll receive a complimentary one night stay at participating Hilton properties, Hilton Silver status (which saves you the 5th night off redemptions), and four complimentary lounge passes.

AMEX Platinum Credit Card

AMEX Platinum Credit Card (Offer Ends: 26 Jul 23)
Apply
	New	Existing
Annual Fee	S$324 (must be paid)	S$324 (must be paid)
Spend	S$3,000	S$3,000
Spend Period	90 days	90 days
Base Miles	2,083	2,083
Bonus Miles	16,667	8,889
Total Miles	18,750	10,972
New customers are defined as those who have not cancelled an AMEX Credit Card in the past 12 months, and do not currently hold a principal AMEX consumer card (AMEX cards issued by Citi/DBS/UOB do not count, nor does the AMEX HighFlyer Card).

New-to-bank customers who are approved for an AMEX Platinum Credit Card by 26 July 2023 will enjoy 30,000 bonus MR points (16,667 miles) when they pay the S$324 annual fee and spend S$3,000 within 90 days of approval. Assuming you clock the minimum spend on local transactions, you’ll earn a further 3,750 base MR points (2,083 miles). 

Existing customers who sign up for an AMEX Platinum Credit Card will enjoy 16,000 bonus MR points (8,889 miles) when they pay the S$324 annual fee and spend S$3,000 within 90 days of approval. Assuming you clock the minimum spend on local transactions, you’ll earn a further 3,750 base MR points (2,083 miles).

AMEX Platinum Credit Cardholders enjoy perks like 50% off dining at selected hotels and restaurants under Love Dining and Chillax. 

AMEX Platinum Charge

AMEX Platinum Charge (Offer Ends: 17 Jul 23)
Apply
Details
	New	Existing
Annual Fee	S$1,728 (must be paid)	S$1,728 (must be paid)
Spend	S$15,000	S$10,000
Spend Period	90 days	90 days
Base Miles	11,719	7,813
Bonus Miles	71,875	43,750
Total Miles	83,594	51,563
New customers are defined as those who have not cancelled an AMEX Platinum Charge in the past 24 months, and do not currently hold a principal AMEX consumer card (AMEX cards issued by Citi/DBS/UOB do not count, nor does the AMEX HighFlyer Card).

New-to-bank customers who sign up for an AMEX Platinum Charge by 17 July 2023 (with approval by 31 July 2023) will enjoy 115,000 bonus MR points (71,875 miles) when they pay the S$1,728 annual fee and spend S$15,000 within 90 days of approval. Assuming you clock the minimum spend on local transactions, you’ll earn a further 18,750 base MR points (11,719 miles). 

Existing customers who sign up for an AMEX Platinum Charge by 17 July 2023 (with approval by 31 July 2023) will enjoy 70,000 bonus MR points (43,750 miles) when they pay the S$1,728 annual fee and spend S$10,000 within 90 days of approval. Assuming you clock the minimum spend on local transactions, you’ll earn a further 12,500 base MR points (7,813 miles). 

AMEX Platinum Charge cardholders will be able to enjoy two sets of the newly-launched S$1,354 statement credits in their first year, since these are awarded based on calendar year instead of membership year. These are valid for fashion, dining, lifestyle, air travel and entertainment; refer to the article below for more details.

How I’m spending my S$1,204 AMEX Platinum Charge credits

AMEX Platinum Charge adds S$150 annual fashion credit

That, together with the sign-up bonus, significantly sweetens the deal in the first year. 

Citi PremierMiles Card

Citi PremierMiles Card (Offer Ends: 31 Jul 23)
Apply
Details
	New  (Offer 1)	New (Offer 2)
Annual Fee	S$194.40 (must be paid)	Waived
Spend	S$800	S$800
Spend Period	2-3 months	2-3 months
Base Miles	960	960
Bonus Miles	30,000	8,000
Total Miles	30,960	8,960
New customers are defined as those who do not currently hold a principal Citi credit card, and have not cancelled one in the past 12 months

New-to-bank customers have a choice of two offers.

They can earn 30,000 bonus miles when they pay the S$194.40 annual fee and spend S$800 within 2-3 months of approval (the exact timeframe depends on when approval comes through; you have until the end of the second month after the approval month to spend). Assuming you clock the minimum spend on local transactions, you’ll earn a further 960 base miles. 

Alternatively, they can earn 8,000 bonus miles when they spend S$800 within 2-3 months of approval, together with an annual fee waiver. Assuming you clock the minimum spend on local transactions, you’ll earn a further 960 base miles. 

Is it worth paying S$194.40 for the opportunity to pick up 22,000 more miles? Arguably yes, since that works out to 0.88 cents per mile, and the spending requirement is the same. 

Citi Prestige Card

Citi Prestige Card (Offer Ends: 31 Jul 23)
Apply
Details
	New & Existing
Annual Fee	S$540 (must be paid)
Spend	S$800
Spend Period	2-3 months
Base Miles	1,040
Bonus Miles	48,000
Total Miles	49,040
Offer valid for anyone who has not cancelled a Citi Prestige Card in the past 12 months

New Citi Prestige Cardholders will enjoy 48,000 bonus miles when they pay the S$535 annual fee and spend S$800 within 2-3 months of approval (the exact timeframe depends on when approval comes through; you have until the end of the second month after the approval month to spend). Assuming you clock the minimum spend on local transactions, you’ll earn a further 1,040 base miles. 

What’s noteworthy about this offer is that it’s available to existing Citi cardholders as well, so holding a Citi PremierMiles Card or Citi Rewards Card won’t disqualify you from taking part. Moreover, S$800 is a very, very low threshold to meet, making this one of the best offers in terms of spend to miles. 

Citi Rewards Card

Citi Rewards Card (Offer Ends: 31 Jul 23)
Apply
Details
	New	Existing
Annual Fee	Waived	N/A
Spend	S$800
Spend Period	2-3 months
Base Miles	3,200
Bonus Miles	16,000
Total Miles	19,200
New customers are defined as those who do not currently hold a principal Citi credit card, and have not cancelled one in the past 12 months

New-to-bank customers can earn 16,000 bonus miles when they spend S$800 within 2-3 months of approval (the exact timeframe depends on when approval comes through; you have until the end of the second month after the approval month to spend). The first year’s annual fee is waived. 

Assuming you clock the minimum spend on online transactions (and you should), you’ll earn a further 3,200 base miles. 

I consider the Citi Rewards Card to be practically essential for miles collectors, so if you don’t have one for whatever reason, that’s something you need to change.

DBS Altitude AMEX Card

DBS Altitude AMEX (Offer Ends: 31 Jul 23)
Apply
Details
	New	Existing
Annual Fee	S$194.40 (can be waived with 10,000 fewer bonus miles)	S$194.40 (can be waived with 10,000 fewer bonus miles)
Spend	S$2,000	S$2,000
Spend Period	30 days	30 days
Base Miles	2,400	2,400
Bonus Miles	31,000	20,000
Total Miles	33,400	22,400
New customers are defined as those who do not currently hold a principal DBS/POSB credit card, and have not cancelled one in the past 12 months

New-to-bank customers who apply for a DBS Altitude AMEX with the promo code ALTMEX will enjoy 31,000 bonus miles when they pay the S$194.40 annual fee and spend S$2,000 within 30 days of approval (should you not wish to pay the annual fee, applying with the code ALTMEXW gets you a first year fee waiver, with 21,000 bonus miles). 

Assuming you clock the minimum spend on local transactions, you’ll earn a further 2,400 base miles. 

Existing customers who apply for a DBS Altitude AMEX with the promo code ALTMEXA will enjoy 20,000 bonus miles when they pay the S$194.40 annual fee and spend S$2,000 within 30 days of approval (should you not wish to pay the annual fee, applying with the code ALTMEXAW gets you a first year fee waiver, with 10,000 bonus miles). 

This offer is significantly better than the previous one, since DBS has cut the minimum spend requirement by 50% while keeping the bonus the same. If you don’t already have a DBS credit card, this might be the offer for you (though keep in mind DBS frequently offers cashback welcome gifts as well, so that might be a better alternative depending on how much is on offer).

DBS Altitude Visa Card

DBS Altitude Visa (Offer Ends: 31 Jul 23)
Apply
Details
	New	Existing
Annual Fee	S$194.40 (can be waived with 10,000 fewer bonus miles)	N/A
Spend	S$2,000
Spend Period	30 days
Base Miles	2,400
Bonus Miles	25,000
Total Miles	27,400
New customers are defined as those who do not currently hold a principal DBS/POSB credit card, and have not cancelled one in the past 12 months

New-to-bank customers who apply for a DBS Altitude Visa with the promo code ALTVIS will enjoy 25,000 bonus miles when they pay the S$194.40 annual fee and spend S$2,000 within 30 days of approval (should you not wish to pay the annual fee, applying with the code ALTVISW gets you a first year fee waiver, with 15,000 bonus miles). 

Assuming you clock the minimum spend on local transactions, you’ll earn a further 2,400 base miles. 

Again, this offer is significantly better than the previous one, since DBS has cut the minimum spend requirement by 50% while adding 3,000 more bonus miles. 

DBS Vantage Card

DBS Vantage Card (Offer Ends: 10 Jul 23)
Apply
Details
	New	Existing
Annual Fee	S$594 (must be paid)	S$594 (must be paid)
Spend	S$5,000	S$5,000
Spend Period	30 days	30 days
Base Miles	7,500	7,500
Bonus Miles	80,000	60,000
Total Miles	87,500	67,500
New customers are defined as those who do not currently hold a principal DBS/POSB credit card, and have not cancelled one in the past 12 months

New-to-bank/existing customers will enjoy 80,000/60,000 bonus miles when they apply with the promo code FLASHVTG, pay the S$594 annual fee and spend S$5,000 within 30 days of approval.

Assuming you clock the minimum spend on local transactions, you’ll earn a further 7,500 base miles (based on the local earn rate of 1.5 mpd).

This is the biggest offer we ever see the DBS Vantage Card running; it’s normally in the neighbourhood of 60,000/40,000 bonus miles for new-to-bank/existing customers.

HSBC TravelOne Card

HSBC TravelOne Card (Offer Ends: 31 Aug 23)
Apply
Details
	New & Existing
Annual Fee	S$194.40 (must be paid)
Spend	S$800
Spend Period	1-2 months
Base Miles	960
Bonus Miles	20,000
Total Miles	20,960

The new kid on the block this month is the HSBC TravelOne Card, which is offering 20,000  bonus miles to both new and existing customers who:

• Pay the annual fee of S$194.40
• Spend at least S$800 during the qualifying spending period
• Opt-in for marketing communications during the sign-up process

The qualifying spending period is as follows:

Assuming you clock the minimum spend on local transactions, you’ll earn a further 960 base miles. 

Cardholders will enjoy other perks like four lounge visits per calendar year (so eight in the first membership year), 12 transfer partners (with more to come by the end of 2023), plus instant, no-fee conversions. 

KrisFlyer UOB Credit Card

KrisFlyer UOB Credit Card (Offer Ends: 31 Jul 23)
Apply
Details
	New	Existing
Annual Fee	Waived	N/A
Spend	S$2,000
Spend Period	60 days
Base Miles	2,400
Bonus Miles	25,000
Total Miles	27,400
New customers are defined as those who do not currently hold a principal UOB credit card, and have not cancelled one in the past 6 months

What’s this? An uncapped UOB sign-up bonus? Surely this must be a glitch in the Matrix!

Apparently not. New-to-bank customers who apply for a KrisFlyer UOB Credit Card will enjoy 25,000 bonus miles when they spend at least S$2,000 in the first 60 days. The first year’s annual fee is waived.

Assuming you clock the minimum spend on local transactions, you’ll earn a further 2,400 base miles. 

I’ve made no secret of my issues with the KrisFlyer UOB Credit Card, but when it’s all said and done, this is a card that offers an uncapped 3 mpd on SIA and Scoot tickets, Kris+, dining, online shopping and travel, and transport. If you’ve maxed out your 4 mpd allowances, or god forbid are part of the “one card” camp, then this would be the next best alternative. 

OCBC VOYAGE Card

OCBC VOYAGE Card (Offer Ends: 31 Jul 23)
Apply
Details
	New & Existing
Annual Fee	S$492.50 (must be paid)
Spend	S$1,000 on CardUp
Spend Period	30 days
Base Miles	1,200
Bonus Miles	30,000
Total Miles	31,200

From 20 February to 31 July 2023, CardUp customers who apply for an OCBC VOYAGE Card, pay the S$492.50 annual fee and spend at least S$1,000 on CardUp within 30 days from approval will receive 30,000 miles as follows:

• 15,000 miles for paying the S$492.50 annual fee
• 15,000 miles for spending at least S$1,000 on CardUp within 30 days of approval

They will also earn 1,200 base miles from the S$1,000 spend (@ 1.2 mpd).

This offer is open to both new and existing OCBC cardholders. In other words, holding another OCBC credit card such as the OCBC Titanium Rewards will not disqualify you, in and of itself. 

However, the T&Cs state that only customers who have “received a non-transferable invitation from CardUp inviting you to participate in the Promotion” are eligible. In other words, it’s a targeted offer, though when I examine the application URL, all it does is add VOYCUP to the Agent Source Code.

This is probably how OCBC is tracking and bonusing eligible applications, which then suggests that anyone who clicks the link will be eligible. That’s just speculation on my part though, so check with OCBC or CardUp if you’re keen.

UOB PRVI Miles Card

New-to-bank UOB PRVI Miles Cardmembers who apply and get approved from 1-31 July 2023 will enjoy up to 45,200 bonus miles, split into:

• 20,000 miles for paying the S$259.20 annual fee
• 25,200 miles for spending S$1,000 per month for two consecutive months

There is no cap on the maximum customers eligible for either component. Repeat: there is no cap. However, do note that you must be approved by 31 July 2023, so don’t leave your application till the last minute. 

Assuming the S$2,000 minimum spend is clocked locally, a further 2,800 base miles (@ 1.4 mpd) will be earned. If the minimum spend is clocked overseas, a further 4,800 (@ 2.4 mpd) base miles will be earned. UOB assumes the latter scenario in its marketing, which is why you’ll see claims of a 50,000 miles sign-up bonus (45,200 bonus + 4,800 base) on its website.

Since the first-year annual fee is waived by default, cardholders must opt in by sending the following SMS to 77862 by 31 August 2023.

My picks

If we look at miles in isolation, then I’d sign up for the KrisFlyer UOB Credit Card, and Citi Rewards Card without hesitation. Provided you can meet the minimum spend, then it’s basically free miles. 

Also worth considering is the brand new HSBC TravelOne Card, particularly because it’s available to existing HSBC customers as well. But if you’re new to HSBC, remember that you should apply for a HSBC Revolution first, in order to get the S$150 cashback offer! You can then apply for the TravelOne as an existing HSBC customer and enjoy the same bonus.

The Citi PremierMiles and Citi Prestige sign-up offers are tempting too because of their relatively low minimum spend of just S$800, but if you intend to apply for both, make sure you do the PremierMiles first (the Prestige offer is for both new and existing customers).

Non-miles sign-up bonuses

💳 Credit Card Sign-Up Bonuses (Non-miles)
	Spend (Period)	Reward	Remarks
DBS yuu AMEX Apply	S$500 (30 days)	S$350 (new) S$120 (existing)	Apply with promo code DBSYUU, ends 10 Jul 23. T&Cs apply
DBS yuu Visa  Apply	S$500 (30 days)	S$300 (new) S$80 (existing)
CIMB Visa Signature Apply	S$988 (60 days)	S$310 cash (new)	Ends 17 Jul 23. T&Cs apply
CIMB World MC Apply	S$988 (60 days)	S$310 cash (new)
CIMB Visa Infinite Apply	S$988 (60 days)	S$310 cash (new)
SC Smart Card Apply	S$500 (30 days)	S$50 cash (new)	Ends 31 Jul 23. T&Cs apply
HSBC Revolution Apply	S$1K (1-2 mo.)	S$150 cash + US$20 airalo eSIM (new)	Ends 31 Jul 23. T&Cs apply (1, 2)

Do note that you will only count as a new customer for the first card you apply for. Subsequently, you’re considered an existing customer. For example, if you apply for both the CIMB Visa Signature and CIMB World Mastercard (even at the same time), you will only be eligible for a single gift of S$280 cash.

Conclusion

As with all credit card sign-up offers, it’s important to read through the T&Cs to confirm eligibility, qualifying spend definitions, and fulfilment timelines. Don’t panic if you don’t see the bonus immediately upon meeting the minimum spend; these usually take three months or more to process.

I also recommend saving a copy of the T&Cs for your own reference, because banks may overwrite the T&Cs when new campaigns are launched, or worse, retroactively modify them!