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Miles Or CashBack? Which Type Of Credit Cards Should You Go For In Singapore?

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We have written extensively in the past on why it makes complete financial sense to be using your credit cards as often as you can. When you use credit cards in Singapore, you not only enjoy convenience, but also the added benefits given to you by the banks issuing the credit card.

In Singapore, the benefits that most people look for these days can be narrowed down to two categories. Miles and Cashback.

Miles – You use a credit card that gives you miles for every dollar you spend. These miles can be used to redeem for flights.

Cashback – You use a credit card that gives you a cashback for every dollar spent. Some credit cards though have a limit to the amount of cashback that you can enjoy each month.

Are Miles Or Cashback Better? We Compare

To help us compare which is better, we decided to use two credit cards. They are the Citibank PremierMiles Card (Miles) and the new Standard Chartered Unlimited Card (Cashback).

We choose both these cards because they have no restrictions on how miles and cashback can be earned. The more you spend, the more you earn. It’s as simple as that.

Citibank Premier Miles Card

If you don’t already know, the Citibank PremierMiles Card is our team’s weapon of choice whenever it comes to clocking up miles. How it works is simple. For every $1 that you spend, you enjoy 1.2 miles. Overseas spending in foreign currency will earn you 2 miles for every S$1 spent

The best part about the Citibank PremierMiles Card is that the miles never expired. So you will never be forced to use your miles prematurely before you actually want to.

If we assume that you spend an average of $1,000 per month on your credit card, along with an occasional big-ticket purchase of $5,000 every 6 months, that would mean a total spend of $22,000 each year, enough to earn you about 26,400 miles. That’s assuming you don’t earn any accelerated miles, which would make the figure higher.

Based on the current Singapore Airline Krisflyer miles conversion chart, this would be sufficient miles for you to enjoy a 2-way flight to Phuket. If you want to travel further, you can save up two years worth of miles to travel to places such as Japan and Turkey.

If we assume a 2-way flight to Japan would cost about $1,000, then the simple calculation here is that for every $44,000 that you spend, you will be able to redeem a flight worth around $1,000.

Cash Spent To Benefits: $1: $0.023

The only downside to the CitiPremier Miles Card is that you need a minimum income of $50,000 per annum in order to apply for the card.

Standard Chartered Unlimited Card (New)

The Standard Chartered Unlimited Card provides a cashback benefit of 1.5%. The reason why we are choosing it for comparison is because unlike other cashback credit cards, there is no minimum spent nor any cap on cashback. You also enjoy the cashback benefits for all categories. It’s easy to understand with no restrictions.

If we assume the same spending habit as what we did for the miles card, a credit card user who spends $1,000 a month can expect a monthly cashback of $15, plus $75 for the big-ticket purchase of $5,000 that he or she made every 6 months. In total, a user can expect to earn a cashback of about $330 per annum.

Cash Spent To Benefits: $1: $0.015

You need a minimum income of $30,000 per annum in order to apply for the card.

Our Analysis

It comes as no surprise to us that a miles card would deliver slightly better cash spent to benefit value, since miles are more restrictive in terms of what you can use them for compared to getting cash.

At the same time, how valuable miles would be also depends on the flights that you are using them for. For example, a flight redeemed using miles to Japan through Singapore Airlines on two separate days can have varying dollar value, even though they cost the same in terms of miles.

At the end of the day, if you are someone who will travel at least once every two years for a holiday, using a miles card like the Citibank PremierMiles Card would make the most financial sense, especially if you know how to choose your flights well.

If you are someone who may not travel often, maximising your cashback return through a card like the Standard Chartered Unlimited Card will be a sensible choice, since you are enjoying definite cash savings for every purchase you make.

Regardless of whether you prefer a Miles card or a Cashback card, paying with a credit card is going to be better than paying with cash. Either way, you pay the same amount. With a credit card however, you get some additional benefits.

Exclusive Promotion For Citibank PremierMiles Card & Standard Chartered Unlimited Card For July 2017

If you are interested to sign up for either the Citibank PremierMiles or the Standard Chartered Unlimited Card, we are having a partnership with SingSaver for the month of July 2017.

For every successful Citibank PremierMiles Card sign up (New Citi Customers Only), you will receive $100 Agoda eVouchers

For every successful Standard Chartered Unlimited Card sign up, you will receive $150 Takashimaya vouchers.

These vouchers are given by SingSaver and are on top of any existing promotions that are also offered for the banks issuing the credit cards.

How To Apply For These Cards

If you want to check out the full list of credit card promotions that we have with SingSaver for the month of July, check out the promotion link here. They’re a total of six credit cards, all of which giving different rewards.

To qualify for them, remember to follow carefully the instructions given in the link in order to successfully claim your vouchers. They may seem a little tedious but it’s just a little extra work to get a free $100 worth of vouchers.


For more information, you can check out the promotion page. This promotion ends on 31 July 2017.

For any further questions or clarification, you can email Singsaver at [email protected]

Miles or Cashback? Which would you prefer? Discuss your preference with us on Facebook. is a website that aims to provide interesting, bite-sized financial articles which are relevant to the average Singaporean. Subscribe to our free e-newsletter to receive exclusive content not available on our website. Follow us as well on Instagram @DNSsingapore to get your daily dose of finance knowledge through photos.


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