FAQs: Chocolate Visa x HeyMax 2 mpd on everything promotion

From 11 February 2025, the Chocolate Visa Platinum Debit Card earns 2 Max Miles per S$1 on virtually everything, even AXS, charitable donations, education, hospitals, insurance premiums, and utilities.

I’ve seen a lot of questions about this tie-up ever since the news was announced last week, and while I’ve published a separate post on how to make the most out of this promotion, I’ve also decided to craft a separate set of FAQs.

Do note that these FAQs are only intended to cover the Chocolate Visa Card x HeyMax 2 mpd promotion. If you have questions about the Chocolate Finance account specifically, do refer to their official FAQ.

Opening a Chocolate Visa card and linking to HeyMax

How do I create a Chocolate Visa?

Download

To create a Chocolate Visa Card, you first need to open a Chocolate Finance account. This can be created by downloading the app and registering using SingPass MyInfo.

Once completed, you’ll be able to add funds and instantly create a Chocolate Visa Card (you can’t create a card with a zero balance, though there is also no minimum requirement). 

A virtual card will be issued immediately, which can be added to Apple Pay or Google Pay wallet for in-store payments using your mobile phone. There’s also the option of ordering a physical card, if you need a fall-back option for situations where contactless payments aren’t accepted.

My physical card took about five days to be received, but with the recent surge in applications, you should expect wait times of 4-5 weeks.

How do I create a HeyMax account and link my Chocolate Visa?

👍 250 Max Miles joining bonus

Sign up for a HeyMax account and get up to 250 Max Miles as a welcome bonus

250 bonus Max Miles

To earn Max Miles with the Chocolate Visa Card, you’ll need to create a HeyMax account. 

After that, you’ll need to pair the Chocolate Visa Card with HeyMax under Your Cards > Add Card. A test transaction of S$0.01 will be charged and refunded within 14 days.

Can I link more than one Chocolate Visa to a given HeyMax account?

No. You can link a maximum of one Chocolate Visa Card to one HeyMax account at any time.

In any case, the monthly bonus cap is set at the HeyMax account level, not the Chocolate Visa Card level. In other words, even if you were to link and unlink multiple Chocolate Visa Cards,  your account would still be capped at earning 2 Max Miles per S$1 at a maximum of S$1,000 per calendar month.

Does the Chocolate Visa have any annual fee?

No.

Does the Chocolate Visa have any minimum income requirement?

No.

Earning Max Miles

How many Max Miles will I earn?

The Chocolate Visa Card awards:

• 2 Max Miles per S$1 on the first S$1,000 of spend per calendar month
• 0.4 Max Miles per S$1 on all spend above S$1,000 per calendar month

For example, spending S$1,500 would earn you 2,200 Max Miles (S$1,000 @ 2 mpd + S$500 @ 0.4 mpd).

This applies to both online and offline transactions, in local or foreign currency (FCY).

Do note that the cap is based on the HeyMax account level, not the Chocolate Visa Card level. For example, if you were to pair one Chocolate Visa Card with your HeyMax account, spend S$1,000, then delink it and pair a second Chocolate Visa Card to the same HeyMax account, any subsequent spending on the second card would earn 0.4 Max Miles per S$1.

You cannot combine or pool Max Miles across different accounts. 

What transactions are excluded from rewards?

Transactions with the following MCCs will be ineligible to earn Max Miles. 

These MCCs are related to money transfers and prepaid account top-ups, like GrabPay and YouTrip.

Can I really earn miles on AXS/donations/education/insurance etc.?

So long as the transaction’s MCC does not feature on the exclusion list, you’re good.

In other words, you can earn Max Miles on commonly-excluded transactions such as:

• AXS payments
• Donations (to Singapore-based organisations)
• Education
• Government services
• Hospital bills
• Insurance premiums
• Utilities

Do I still earn miles if I set up my card as a recurring payment?

Yes. It doesn’t matter whether you make one-time or recurring payments, so long as the transaction’s MCC does not feature on the exclusion list, you’re good.

What if I’m paying in foreign currency?

The Chocolate Visa Card has no foreign currency transaction fees. Foreign currency transactions will be converted into SGD at the Visa rate, with no further markup.

You can use the official Visa calculator here to check how much you’ll pay (set the bank fee at 0%).

Is the Chocolate Visa Card subject to any transaction limits?

There is a maximum limit of S$5,000 per transaction and S$20,000 per day on the Chocolate Visa Card.

Unlike wallet-backed cards like Revolut or YouTrip, there is no annual spend limit.

What’s the minimum spend required to earn Max Miles?

The minimum spend required to earn Max Miles is S$0.50.

How are Max Miles calculated?

To calculate the Max Miles earned, multiply your transaction amount by 2 and round it up to the nearest whole number. For example, a transaction of S$10.10 will earn 21 Max Miles (S$10.10 x 2, rounded up to 21)

From 1 March 2025, Max Miles will be rounded up to 1 decimal place instead of a whole number. Therefore, the same S$10.10 transaction will earn 20.2 Max Miles instead.

When are Max Miles credited?

Max Miles will be tracked as soon as the payment is charged to your card (you can check this in the HeyMax app).

They will be credited once the transaction posts, which can take anywhere from 1-7 days depending on merchant. This is not within the control of Chocolate Finance or Heymax.

When will the promotion end?

At the moment, the promotion has no end date. Obviously, this is one of those “burn money” promotions and can’t possibly last indefinitely, and at some point we’re going to see either reduced earn rates or more reward exclusions (or both).

Enjoy it while it lasts!

I want to pay AXS bills but the transaction fails. Why?

When paying AXS bills with your Chocolate Visa Card (via the AXS e-station), be sure to select Credit Cards (Local) > Other Banks and not Debit Cards.

Yes, I know, the Chocolate Visa is a debit card. But if you select Debit Cards, the transaction will fail.

What can I pay on AXS?

You can use the Chocolate Visa to pay any AXS bill except:

• Credit cards
• Loans

Income tax, MCST fees, insurance premiums and all other payments are fine.

I already have a GIRO arrangement in place. Can I use Chocolate with AXS to make manual payments?

Yes you can. 

However, to avoid double deductions, your manual payment must be made ahead of the billing organisation’s automatic deduction.

For example, IRAS GIRO deductions take place on the 6th of every month. To provide a sufficient buffer, I recommend you make your payments no later than 2 weeks before this date. 

To illustrate, suppose your tax bill is S$12,000 and you opt for GIRO. IRAS will split your tax bill such that S$1,000 comes due each month. 

Suppose you make a manual payment of S$400 in July 2024. According to your payment schedule, you were supposed to pay S$1,000 in July, so GIRO will automatically adjust to deduct S$600 instead of S$1,000 for that month. 

Then suppose you make a manual payment of S$1,500 in September 2024. According to your payment schedule, you only needed to pay S$1,000 in September, so GIRO won’t take any deduction for this month. 

When October 2024 comes round, assuming you make no further manual payment, GIRO will deduct S$500 to put you “back on schedule” with S$6,000 paid off by the end of October 2024.

Using Max Miles

Do Max Miles expire?

No.

Are there any conversion fees?

No.

What programmes can I convert Max Miles to?

Max Miles can be converted at a 1:1 ratio to 27 airline and hotel partners.

What programme should I transfer Max Miles to?

For more on the sweet spots you can redeem with Max Miles, refer to this post. 

Are there any other uses for Max Miles?

In addition to airline and hotel programme conversions, Max Miles can also be used to:

• Pay for commercial air tickets at a rate of 1.8 cents per mile, using the FlyAnywhere option
• Redeem vouchers and gift cards at a rate of 1 cent per mile

Other questions

Can I withdraw money from an ATM using my Chocolate Visa Card?

No.

What precautions should I take?

As the Chocolate Visa Card is a debit card, not a credit card, you should take additional precautions with regards to fraud.

That’s because any successful fraudulent transactions will be immediately debited from your account balance, as opposed to a credit card where the bill is only payable later, giving you time to spot the transaction, report it, and receive a temporary credit pending further investigation. 

There is, of course, a proper fraud reporting process to get such transactions reversed from your account, but you’ll be out of pocket during the investigation period. Mind you, these concerns aren’t unique to the Chocolate Visa; it’s the same for every debit card. 

To be extra safe, I recommend locking your card via the Chocolate app whenever it’s not in use.

Conclusion

Chocolate Visa Card

Apply here

The Chocolate Visa Card now offers cardholders 2 Max Miles per S$1 on almost everything for the first S$1,000 per calendar month, and 0.4 Max miles per S$1 on all spend after that.

My preference is to prioritise the cap in this order:

1. Transactions that normally can’t earn rewards
2. Foreign currency transactions
3. All other spend

Even if you’ve hit the S$1,000 mark, it can still be worthwhile to use the Chocolate Visa Card for (1), in the sense that 0.4 mpd is better than nothing at all. 

It remains to be seen how long Chocolate and HeyMax continue this partnership, so make hay while you can!