9 best credit cards in Singapore for overseas spending (2024)
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PUBLISHED ONMarch 24, 2024 8:35 AMByCaleb Leong
Travelling abroad this year? Make sure you have the right credit card to maximise rewards and minimise fees. With numerous options available, it can be challenging to find the perfect card for your overseas spending needs.
To help you navigate the credit card landscape, we've compiled a list of the nine best credit cards in Singapore for overseas spending in 2024. Each card offers unique benefits, catering to different travel preferences and spending habits.
Whether you're looking for air miles, cashback, lounge access, or travel insurance, this guide will help you discover the ideal credit card to accompany you on your adventures. Let's dive in and explore how you can make the most of your overseas spending!
Key factors to consider when choosing a credit card for overseas expenses
When it comes to travel credit cards, there’s a world of incentives and benefits to explore. Each card caters to different preferences and offers unique advantages:
- Acceptance and Convenience: Credit cards are recognised worldwide, making them a convenient payment option for all travellers. No need to carry loads of cash or deal with currency exchange. With a credit card, you can easily pay for purchases, book hotels, and cover other expenses hassle-free.
- Currency Conversion: When using a credit card for overseas transactions, the currency conversion is taken care of by the issuer. This often means better exchange rates compared to cash exchanges, putting more money back in your pocket.
- Travel Rewards: Numerous credit cards provide travel rewards tailored for spending abroad. Earn bonus miles or points on international purchases and redeem them for discounted flights, hotel stays, and more.
- Fraud Protection: Credit cards come with built-in fraud protection, ensuring the security of your overseas transactions. Credit card companies monitor for suspicious activity and provide zero-liability policies, so you’re not held responsible for unauthorised charges. Enjoy worry-free shopping, even in unfamiliar places.
- Emergency Assistance: Some credit cards go the extra mile by offering emergency assistance services and complimentary travel insurance. This includes a 24/7 helpline for travel emergencies and support for lost or stolen cards. It’s a valuable resource to have during unforeseen situations while travelling abroad.
Taking your travel preferences into account is essential when choosing a travel credit card.
- Air Miles: Earn air miles for every dollar spent with an air miles credit card, perfect for boosting your mileage balance and enjoying seat upgrades or free air tickets during your overseas journeys.
- Cashback: Get cashback rewards on your overseas spending and use them to offset future purchases. Some cards have minimum spending requirements, but there are also options available with no minimum spend.
- Deals & Rewards: Earn rewards points for every purchase made overseas and redeem them for products or vouchers from partner companies. Keep in mind that the points-earning rate for each bank’s reward programme will vary.
Best credit cards in Singapore for overseas spending
To make an informed decision, we’ve curated a list of the best credit cards in Singapore for your travel adventures. Here are nine top picks that offer great benefits:
1. Citi PremierMiles Card – for budding travel explorers
The Citi PremierMiles Card is a top choice for travel enthusiasts. With this card, you can earn up to 30,000 bonus Citi Miles when you spend S$800 in the first two months (subject to change in promotions' terms and conditions).
Earn up to 2 Citi Miles per S$1 spent overseas, accelerating your miles accumulation while travelling. You can also earn up to 1.2 Citi Miles per S$1 spent locally, allowing you to earn rewards even when you're not abroad and enjoy no minimum spend or cap for overseas spending. Furthermore, boost your miles bank with a renewal bonus of 10,000 Citi Miles each year.
Access two complimentary visits per year to over 1,300 airport lounges worldwide and benefit from complimentary travel insurance coverage while indulging in members-only dining and shopping privileges, making your travels even more rewarding.
Additionally, the Citi PremierMiles Card offers exclusive partnerships with popular travel booking platforms:
- Earn an impressive 10 Citi Miles per S$1 spent on Kaligo, maximising your rewards on hotel bookings
- Earn up to 7 Citi Miles per S$1 spent on hotel bookings worldwide through Agoda, further accelerating your miles accumulation
With its generous rewards, exclusive benefits, and travel-focused perks, the Citi PremierMiles Card is an excellent choice for travel explorers looking to make the most of their overseas spending in 2024. Check more about the card here.
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2. DBS Altitude Visa Signature Card – for the most versatile flight benefits
The DBS Altitude Visa Signature Card is now even more appealing for travellers, offering an array of benefits and an enhanced miles-earning potential. The standout feature is the hefty savings you enjoy with various airlines! Here are perks you should know:
- Up to eight per cent off flight bookings with China Airlines
- Up to 10 per cent off flight bookings with Qantas
- 10 per cent off Economy Standard and Prestige Standard flight tickets with Korean Air
- Up to $150 off flight bookings with KLM
Here's a glimpse of its miles mechanics:
- Travel Spend Rewards: Earn up to 10 miles per S$1 spent on travel purchases at Kaligo, making it one of the fastest ways to accumulate miles for your dream vacation
- Overseas Spend Rewards: When you use your DBS Altitude Card overseas, you can earn up to 2.2 miles per S$1 spent on transactions made in foreign currency
- Local Spend Rewards: For local spending, you can still earn a respectable 1.3 miles per S$1, making it a versatile card for both travel and everyday use
Good news! The DBS Points you earn never expire! You can now take time to save up for your dream trip to somewhere further out.
As a cardholder, you’ll also receive a complimentary Digital Priority Pass™ membership, with two free lounge visits at over 1,400 airport lounges worldwide within every 12 months of your membership.
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3. HSBC Visa Infinite Credit Card – for the ultimate luxury travel experience
Elevate your travel game to new heights with the HSBC Visa Infinite Credit Card. This premium card is your key to unlocking a world of unparalleled luxury and benefits, tailored for the discerning traveller who settles for nothing but the best.
Kickstart your travels by being chauffeured in style to Changi Airport from any location in Singapore. Credit card holders can enjoy the following benefits each year:
- 2 Complimentary limousine transfers
- 2 Expedited immigration clearance
- A dedicated concierge service at your beck and call
Note: HSBC Premier customers get four complimentary redemptions. Even if you’re not a Premier customer, you can earn more of these privileges. Receive one complimentary redemption of both privileges with every S$2,000 eligible purchase in a calendar month.
Earn up to a whopping 2.25 miles for every S$1 spent overseas. The best part? There’s no cap on the miles you can earn, so the sky’s the limit!
With no more public golf courses by the end of this year, the complimentary green fees at selected golf courses come in handy for golf enthusiasts. Now complemented with golfer’s insurance worldwide coverage of up to S$500,000.
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4. UOB Lady's Card – for the ladies… and men
Being one of the oldest ladies-centric cards around, the UOB Lady’s card has since upgraded to offer better incentives – 15X UNI$ (or 30 miles) per S$5 spent on your selected category with no minimum spend or four miles per dollar spent (capped at $1,000 per month). Categories include:
- Beauty & Wellness
- Fashion
- Dining
- Family
- Travel
- Transport
- EntertainmentThe caveat: you may only select one preferred category for local and overseas spending. However, you have the option to change the category for rewards each quarter.
Aside from the standard online shopping and travel insurance, ladies can use the UOB Lady's LuxePay Plan, a 6 to 12-month instalment plan with no interest rate charged, to finance your big ticket items (e.g. branded bags) while shopping overseas.
Whether you're single, married, or with kids, this is the card that accounts for the different considerations based on your life stage while travelling.
When combined with the UOB Lady's Savings account, account holders can earn monthly cash rewards when you credit at least 20 per cent of your salary into the account or top up your child's Junior Savers Account. Plus. Also, enjoy free female cancer coverage of up to S$200,000 and other medical and dental benefits.
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5. KrisFlyer UOB Credit Card – for Singapore Airlines & Scoot loyalists
The beauty of KrisFlyer UOB Credit Card is that you'll be earning miles directly into your KrisFlyer account. No more pesky conversion fees or waiting around. And the best part? You'll be rewarded for doing what you love — dining, ordering in, and shopping online. It's a win-win situation!
But wait, there's more! If you spend at least $800 a year on Singapore Airlines or its related companies, you'll unlock a world of bonus miles:
- Enjoy 3 KrisFlyer miles per S$1 spend on Singapore Airlines, Scoot, KrisShop and Kris+ purchases
- Indulge in 3 KrisFlyer miles per S$1 spend on dining, food delivery, online shopping, online travel and transport spend with min. S$800 annual spend on Singapore Airlines, Scoot and KrisShop
- Earn 1.2 KrisFlyer miles per S$1 spend on all other spend
And don't forget about the cherry on top — 5,000 KrisFlyer miles with your first eligible spend of just S$5. Plus, when you pay your annual renewal fee, you'll be gifted with a generous 10,000 KrisFlyer miles. It's like a birthday present from the company to you, every single year.
The perks don't stop there. Open a KrisFlyer UOB Deposit Account, and you could earn up to an additional six KrisFlyer miles per S$1 spent. With exclusive offers on KrisShop, Grab rides, and Scoot privileges, you'll be living the high life both on the ground and in the air.
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6. CIMB Visa Signature Card – for the savvy spender who appreciates value for money
Every Singaporean always looks to derive the most benefit out of every dollar spent. The CIMB Visa Signature Card is excellent for those who seek to maximise their rewards. With no annual fee for life, this card offers an attractive proposition for savvy spenders looking to earn cashback on their purchases.
One of the standout features of the CIMB Visa Signature Card is its high cashback rate of 10 per cent on selected categories:
- Beauty & Wellness: Earn 10per cent cashback on your self-care expenses, including spa treatments and skincare products.
- Online Shopping: Enjoy 10per cent cashback on all your online purchases, making your online shopping even more rewarding.
- Groceries: Get 10per cent cashback on your grocery spending, helping you save on your daily essentials.
- Pet Shops & Veterinary Services: Pamper your pets while earning 10 per cent cashback on pet supplies and veterinary services.
- Cruises: Indulge in a luxurious cruise vacation and enjoy 10 per cent cashback on your booking.
In addition to the cashback benefits, the CIMB Visa Signature Card also provides complimentary travel insurance coverage of up to S$500,000. This offers peace of mind when travelling, ensuring that you and your family are well protected against unforeseen circumstances.
The Visa Signature Concierge service is another valuable benefit, providing cardholders with access to a dedicated team of professionals who can assist with travel arrangements, restaurant reservations, and other lifestyle services.
It's important to note that the 10 per cent cashback is capped at S$100 per statement month per Principal Card member, with a maximum of S$20 per category. While this may limit the total cashback earned, it still offers significant value for those who spend within these categories.
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7. HSBC TravelOne Card – for travellers seeking flexibility and variety in experiences
Are you looking for a well-rounded credit card with a host of perks? The HSBC TravelOne cardholders can enjoy instant reward redemption with an extensive selection of airline and hotel partners, such as Cathay Pacific, Singapore Airlines, Marriott Bonvoy, and more. All within a few clicks on the HSBC Singapore mobile app. .
Apart from zero redemption fees, this card also offers exclusive access to the HSBC ENTERTAINER through the mobile app, featuring a wide selection of deals locally and worldwide such as:
- Unlock exciting 1-for-1 dine-in offers and more at over 200 merchants across Singapore, including PAUL Bakery, Nassim Hill, and others.
- Enjoy dining from the comfort of your home with 1-for-1 takeaway offers at dining merchants, such as Canadian 2 For 1 Pizza and Kohi Roastery & Coffee Bar.
- Take advantage of up to 50per cent off Leisure, Attraction, and Wellness offers at popular merchants like BOUNCE Singapore and Spa Rael.
- As a cardholder, you can also indulge in 1-for-1 stays in rooms at over 100 hotels around the world, which you can select directly from the app.
Even if you're a little tight on cash, this card allows you to split your purchases across a range of flexible payment plans that suit your needs with Instalment Plans at 0per cent interest fee. It’s particularly useful especially for larger purchases made.
When it comes to earning miles, the HSBC TravelOne Card offers:
- Up to 2.4 miles for every S$1 spent overseas
- No cap on miles/points earned
- Up to 1.2 miles for every S$1 spent locally
While other cards offer 10,000 renewal bonus, HSBC generously offers twice the amount with 20,000 welcome bonus miles (50,000 reward points) upon renewal.
In light of the credit card scams, HSBC upped their security game with ID Theft Protection with proactive monitoring and alerts to ensure the security of your personal data from identity theft or fraud.
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8. Standard Chartered Journey Credit Card – for the frugal traveller
The Standard Chartered Journey Credit Card is an attractive option for cost-conscious travellers who seek to maximise their miles and get the most discounts. This card offers a competitive earn rate of up to three miles for every $1 spent. However, it's important to note that there is a cap of 3,000 miles per statement cycle, which may limit the potential for larger purchases.
Standard Chartered offers the most loaded welcome gift with 45,000 miles (with annual fees) or 25,000 miles (without annual fees) when you spend $3,000 in the first two months. Also, all cardholders enjoy 45 per cent off MSIG TravelEasy® Insurance.
To sweeten the deal, the Journey Credit card offers even more savings for your travels including:
- Up to eight per cent off hotel bookings on Hotels.com
- 10 per cent off car rental bookings on Rentalcars.com
- Up to 10 per cent cashback on all accommodation bookings on Booking.com
- Up to 13 per cent off for Qatar Airways flights
- Up to 20 per cent off for Accor Hotels in Greater China
What we like about their website is the easy to navigate miles calculator. You can easily tabulate how much miles you accumulate with your monthly expenditure. As you scroll down, you’ll instantly view the locations to potentially redeem with your miles.
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9. OCBC 90°N Master Card – for the traveller who prefers top-notch airlines and hotels
It’s only reasonable that we want to pamper ourselves during travels for all the hard work. The OCBC 90°N Master Card offers the opportunity to exchange your never expiring miles at a well curated group of premiere airlines and hotel groups.
Airline partners:
- Singapore Airlines KrisFlyer
- Air France – KLM Flying Blue
- British Airways Executive Club
- Cathay
- Etihad Guest
- United MileagePlus
Hotel partners:
- ALL – Accor Live Limitless
- IHG One Rewards
- Marriott Bonvoy®
The OCBC 90°N Master Card also offers unparalleled flexibility, with no cap on the amount of miles you earn and the ability to redeem in blocks of as few as 1,000 miles. If you prefer cash rebates, you can enjoy up to 2.1 per cent cash back for overseas expenditure and offset your credit card bills instantly.
While this card offers less miles than other cards (2.1 Travel$ per S$1 spent on foreign currency transactions), you can easily rake up the miles game with up to seven Miles per S$1 spent on accommodations worldwide. Also, OCBC makeup with higher interest rates of up to 4.65 per cent per annum when you bank up to $100,000 in your OCBC 360 account.
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Overview: Best credit cards in Singapore for overseas spending (2024)
| Credit Card | Foreign Transaction Fees | Overseas Spending Rewards | Travel Insurance Coverage | Rewards and Perks |
| Citi PremierMiles Card | 3.25per cent | S$1 = Up to 2 Miles | Complimentary coverage | Airline miles, airport lounge access, exclusive dining and shopping privileges |
| DBS Altitude Visa Signature Card | 3.25per cent | S$1 = Up to 2.2 Miles (foreign currency), S$1 = Up to 10 Miles (travel purchases) | No Coverage | Airport lounge access, bonus miles with annual fee payment |
| HSBC Visa Infinite Credit Card | 3.25per cent | S$1 = Up to 2.25 Miles | Up to S$2.75 million | VIP airport lounge access, golfing privileges, luxury travel benefits |
| UOB Lady’s Card | 3.25per cent | S$5 = 30 Miles (selected category) | Standard online shopping and travel insurance | Rewards based on selected category, instalment plan for big-ticket items |
| KrisFlyer UOB Credit Card | 3.25per cent | S$1 = 3 Miles (Singapore Airlines, Scoot, KrisShop, Kris+) | No Coverage | KrisFlyer miles earning, exclusive offers on KrisShop, Grab rides, Scoot privileges |
| CIMB Visa Signature Card | 3per cent | 10per cent cashback for overseas spend | Up to S$500,000 | Visa Signature Concierge, regional deals |
| HSBC TravelOne Card | 3.25per cent | S$1 = Up to 2.4 Miles | Complimentary coverage | Instant reward redemption, exclusive deals, flexible instalment plans |
| Standard Chartered Journey Credit Card | 3.25per cent | S$1 = Up to 3 Miles | Up to S$500,000 | Complimentary Priority Pass lounge visits, Grab and Caltex discounts |
| OCBC 90°N Visa Card | 3.25per cent | S$1 = 2.1 Travel$ (foreign currency) | No Coverage | Flexible miles redemption, cash rebate option, extensive partner network |
Mastering credit card usage abroad - extra tips for travelers
1. Register for neobank cards
To avoid currency conversion and foreign transaction fees, many overseas travellers are turning to neobank cards like YouTrip and Instrem Amaze. With these, you can shop in a foreign country without incurring any hidden fees or losing money on the exchange. Additionally, their user-friendly apps make it easy to manage and track your transactions in Sing Dollar.
2. Opt for domestic currency payments
When using your credit card abroad, it’s important to choose to pay in the local currency rather than your home currency. Opting for dynamic currency conversion and paying in your home currency may inadvertently exclude you from earning better perks, cashback, or rewards that some credit cards offer for transactions in foreign currency.
3. Explore multi-currency mobile wallets
Consider using a multi-currency mobile wallet as an alternative to a dedicated bank account. Multi-currency mobile wallets offer convenient currency conversion to over 150 countries with lower intermediary fees.
Rather than carrying a huge stash of cash with you, you can easily withdraw what you need at the local ATMs. It’s a convenient alternative, especially for those who are exploring different countries on a single trip.
Final words
There are always going to be many credit cards designed for overseas spending. With the increased competition and new players, chances are that most cards will waive their transaction fees and offer competitive exchange rates.
We say that choosing the right card will depend on what you intend to optimise your benefits for. Whether it’s the miles game, clocking up your rewards, or immediate cashback, pick one that would best benefit your lifestyle. Since you’re going to be spending while travelling around anyway, might as well get the most out of it.
ALSO READ: Best savings accounts in Singapore with highest interest rates (March 2024)
This article was first published in MoneySmart.