If you’re planning to travel overseas, finding the right credit card can help you save money on foreign transaction fees and earn rewards for your spending. With so many options available, it can be challenging to choose the best card for your needs. In this article, we’ll take a look at the top credit cards for overseas spending in Singapore and help you find the one that’s right for you.
When choosing a credit card for overseas spending, there are several factors to consider. These include foreign transaction fees, rewards programs, and additional benefits such as travel insurance or airport lounge access. By comparing these features, you can find a card that offers the most value for your spending.
Our top picks for overseas spending in Singapore include cards from DBS, Citibank, and American Express. These cards offer generous rewards programs and low foreign transaction fees, making them an excellent choice for frequent travellers. Whether you’re looking to earn miles for your next vacation or save money on foreign transaction fees, there’s a card that’s right for you.
Choosing the Best Credit Cards for Overseas Spending
If you are planning to travel abroad, choosing the right credit card can help you save money and earn rewards. Here are some factors to consider when selecting a credit card for overseas spending.
Understanding Foreign Transaction Fees
When you use your credit card overseas, you may be charged a foreign transaction fee. This fee is usually a percentage of the transaction amount and can add up quickly. Look for credit cards that offer no foreign transaction fees to avoid paying extra charges.
Evaluating Rewards and Air Miles Programmes
Many credit cards offer rewards and air miles programmes that can help you earn points or cashback on your overseas spending. Consider credit cards that offer rewards and air miles programmes that suit your travel needs. For example, if you frequently travel to a particular destination, you may want to choose a credit card that offers air miles for that destination.
Considering Annual Fees and Waivers
Some credit cards charge annual fees for their services. Consider the annual fee when selecting a credit card for overseas spending. Look for credit cards that offer annual fee waivers or discounts to help you save money.
In summary, when choosing a credit card for overseas spending, consider factors such as foreign transaction fees, rewards and air miles programmes, and annual fees and waivers. By selecting the right credit card, you can save money and earn rewards on your overseas spending.
Top Picks for Overseas Spend in Singapore
When travelling abroad, you want to ensure that you have a credit card that can handle all your expenses without any hassle. Here are some of the top picks for the best credit cards for overseas spending in Singapore.
UOB PRVI Miles Cards
The UOB PRVI Miles Card is a popular choice for frequent travellers. It offers up to 4.4 miles per $1 spent on overseas transactions, making it one of the best cards for earning air miles. Additionally, it comes with a complimentary travel insurance coverage of up to $1 million and a Priority Pass membership that gives you access to over 1,000 airport lounges worldwide.
DBS Altitude Visa
The DBS Altitude Visa is another great card for overseas spending. It offers up to 3 miles per $1 spent on overseas transactions, as well as free travel insurance coverage of up to $1 million. Furthermore, the card offers a wide range of travel perks, such as free airport transfers and discounts on hotel bookings.
Citi PremierMiles Card
The Citi PremierMiles Card is a popular choice for those who want to earn air miles quickly. It offers up to 2 miles per $1 spent on overseas transactions, as well as a complimentary travel insurance coverage of up to $1 million. Moreover, the card offers a range of exclusive travel benefits, such as free airport lounge access and discounts on hotel bookings.
OCBC 90°N Card
The OCBC 90°N Card is a great option for those who love to travel. It offers up to 3 miles per $1 spent on overseas transactions, as well as free travel insurance coverage of up to $1 million. Additionally, the card offers a range of travel perks, such as free airport lounge access and discounts on hotel bookings.
HSBC Advance Credit Card
The HSBC Advance Credit Card is a popular choice for those who want to earn air miles quickly. It offers up to 2.5 miles per $1 spent on overseas transactions, as well as a complimentary travel insurance coverage of up to $1 million. Furthermore, the card offers a range of travel perks, such as free airport lounge access and discounts on hotel bookings.
In conclusion, these are some of the best credit cards for overseas spending in Singapore. With their generous rewards, travel perks and insurance coverage, they make travelling abroad a breeze. So, the next time you’re planning a trip overseas, be sure to consider one of these top picks for your spending needs.
Maximising Rewards on Foreign Transactions
When travelling abroad, it’s important to have a credit card that not only offers low transaction fees but also rewards you for your expenses. Here are some tips to maximise your rewards on foreign transactions:
Dynamic Currency Conversion Pitfalls
Dynamic Currency Conversion (DCC) is a service offered by some merchants that allows you to pay in your home currency instead of the local currency. While this may seem convenient, it often comes with a high exchange rate and additional fees. Always choose to pay in the local currency to avoid these pitfalls and save money.
Using Cards for Dining and Shopping Abroad
Many credit cards offer rewards for dining and shopping expenses. Look for cards that offer high rewards for these categories, and use them whenever possible. For example, the Citibank PremierMiles Card offers 1.2 miles for every $1 spent on dining and shopping overseas.
Online Transactions and Overseas Shopping
Shopping online while abroad can be a great way to save money and avoid the crowds. Look for credit cards that offer rewards for online transactions, such as the Standard Chartered Rewards+ Credit Card, which offers 10 Rewards Points per $1 spent overseas. Additionally, some cards offer exclusive discounts and promotions for online shopping, so be sure to check for these before making your purchase.
By following these tips, you can make the most of your credit card rewards while travelling abroad. Remember to always choose to pay in the local currency, use cards with high rewards for dining and shopping, and take advantage of online shopping promotions.
Additional Perks of Overseas Expenditure Cards
When you’re travelling overseas, it’s always great to have a credit card that offers more than just the ability to make transactions. Many credit cards for overseas expenditure come with additional perks that can enhance your travel experience. Here are some of the most common benefits that you can enjoy when you use your overseas expenditure card:
Travel Insurance Coverage
One of the most important benefits of using an overseas expenditure card is the travel insurance coverage that comes with it. Many cards offer comprehensive travel insurance coverage that includes medical expenses, trip cancellation, and lost luggage. This can give you peace of mind when you’re travelling, knowing that you’re covered in case of any unexpected incidents.
Airport Lounge Access
Another great benefit of using an overseas expenditure card is the airport lounge access that comes with it. This can be a real lifesaver, especially if you have a long layover or delay. Many cards offer complimentary access to airport lounges, where you can relax, enjoy some food and drinks, and catch up on work or entertainment.
Exclusive Hotel and Dining Deals
If you’re a foodie or love staying in luxurious hotels, then you’ll be happy to know that many overseas expenditure cards offer exclusive deals on hotels and dining. This can include discounts on room rates, complimentary breakfast, or even free nights. Some cards also offer discounts or cashback on dining at select restaurants, which can help you save money while enjoying delicious food.
Overall, using an overseas expenditure card can offer you a range of benefits that can enhance your travel experience. From travel insurance coverage to airport lounge access and exclusive hotel and dining deals, these cards are designed to make your travels more enjoyable and stress-free. So, be sure to choose a card that offers the benefits that are most important to you, and start enjoying your travels to the fullest!
Understanding the Impact of Spending Habits
When it comes to choosing the best card for overseas spending in Singapore, it’s important to understand the impact of your spending habits. This will help you make an informed decision and choose a card that suits your needs.
Local vs Overseas Spend Analysis
Before you decide on a card, it’s important to analyse your local and overseas spending habits. If you tend to spend more locally, a card with good cashback or rewards for local spending may be more suitable for you. However, if you frequently travel abroad or make foreign currency transactions, a card with low foreign transaction fees and good rewards for overseas spending may be more beneficial.
Adjusting to Currency Exchange Rates
Another factor to consider is the impact of currency exchange rates. When you make a foreign currency transaction, the amount is first converted to USD and then into SGD based on rates provided by Mastercard or Visa. This means that you may be subject to exchange rate fluctuations, which can impact the final amount charged to your card.
To adjust to currency exchange rates, it’s important to choose a card that offers competitive exchange rates and low foreign transaction fees. Some cards also offer the option to lock in exchange rates for a certain period of time, which can help you avoid fluctuations in currency exchange rates.
Overall, understanding your spending habits and the impact of currency exchange rates is crucial when choosing the best card for overseas spending in Singapore. By doing your research and choosing a card that suits your needs, you can enjoy seamless transactions while abroad and earn rewards or cashback on your spending.
Frequently Asked Questions
Which credit card offers the top perks for international travel from Singapore?
When it comes to credit cards for overseas spending, there are a few options to choose from. The Citi PremierMiles Card is a popular choice as it offers a high earn rate of 1.2 miles per $1 spent overseas and comes with a range of travel perks. Another great option is the HSBC Revolution Credit Card, which offers 2 miles per $1 spent on online transactions, including those made overseas.
What’s the ultimate debit card for globetrotters to avoid pesky overseas fees?
If you’re looking for a debit card that can help you avoid overseas fees, the Wise card is a great option. It allows you to spend in over 50 currencies without any hidden fees and offers real-time exchange rates. Plus, you can withdraw up to $350 per month from ATMs without any fees.
Are there any credit cards in Singapore that waive foreign transaction charges?
Yes, there are a few credit cards in Singapore that waive foreign transaction charges. The DBS Altitude Visa Signature Card is one such option. It offers 1.2 miles per $1 spent overseas and has no foreign transaction fees. The UOB Visa Signature Card is another great option, offering 4 miles per $1 spent overseas and no foreign transaction fees.
What’s the most fantastic multi-currency card for jet-setters?
The TransferWise debit card is a great multi-currency card for jet-setters. It allows you to hold and spend in over 50 currencies with real-time exchange rates and no hidden fees. Plus, you can withdraw up to $350 per month from ATMs without any fees.
Which card should you carry for the best foreign currency transaction rates?
If you’re looking for the best foreign currency transaction rates, the HSBC Visa Infinite Credit Card is a great option. It offers a competitive exchange rate and comes with a range of travel perks, including free airport lounge access.
What travel card reigns supreme for use abroad from Singapore?
The American Express Platinum Credit Card is a great travel card for use abroad from Singapore. It offers a range of travel perks, including free airport lounge access, and comes with a competitive earn rate of 2.4 miles per $1 spent overseas.