All posts tagged: Credit Cards

Bank of China slashes BOC Elite Miles card earn rate from 15 Jun

The revised rates are abysmal, so remember to cash out your points by 15 Jun BOC with its spectacular BOC Elite Miles card, has finally blinked. The card, which has one of the highest local spend earn rates for a general spending card, will be effectively reducing the earn rate of BOC Elite Miles card from 15 Jun, according to a revised terms and conditions document sent out to cardmembers yesterday (via SMS, no less). The keyword here being ‘effectively’ because of the way the change is made. Most other banks will usually change the earn rate of the cards, but BOC has taken the other approach by changing the conversion rate. BOC will be changing the conversion rate of your BOC points to miles from 15 Jun, as follow: Frequent Flyer Programme Currently From 15 Jun Krisflyer 30,000 points to 10,000 miles 45,000 points to10,000 miles Asia Miles 18,000 points to6,000 miles 27,000 points to6,000 miles This means that the conversion cost of your BOC points has gone up by 50%, effectively reducing your …

OCBC Titanium Rewards to award OCBC$ in blocks of S$5 spend

OCBC going down the UOB way. Right after OCBC made changes to the 90°N card, the bank also revised the OCBC Titanium Rewards card to give out points in blocks of S$5 spend from 1 Jun 2020. On top of the earning change, OCBC will also be add more exclusion categories to what will earn you bonus points with the Titanium Rewards card. Earning OCBC$ based on $5 blocks of spending Currently, cardmembers earn a flat 10 OCBC$, or 4 miles, per dollar spent on the Titanium Rewards card when spending on eligible categories (i.e. sclothes, accessories, shoes, bags, electronics and gadgets and babies’ and children’s wear). From 1 Jun, this will have a technical change: OCBC will award 50 OCBC$, or 20 miles, per S$5 spent, rounded down to the nearest S$5. Why this makes a difference Why this change is material to the Titanium Rewards card is because unlike the 90°N card, this card is a specialised spending card (i.e. the bonus applies for spending in specific categories). The difference lies in the …

OCBC adjusts earn rates on 90°N card

Travel$ to be awarded in blocks of S$5 spend from 1 Jun OCBC has made some tweaks to their 90°N card, to be effected from 1 Jun. These changes are not major, but may affect the way you spend if you are still using that as your default card. Travel$ to be awarded in blocks of S$5 spend From 1 Jun, OCBC will award Travel$ in blocks of S$5 spend, meaning: For local spend, every S$5 spend will earn you 6 Travel$, equivalent to 6 miles (i.e. 1.2 mpd) For foreign spend, every S$5 equivalent spend will earn you 10.5 Travel$, equivalent to 10.5 miles (i.e. 2.1 mpd) AXS Pay+Earn will earn you 5 Travel$ for every S$5 spend (i.e. 1 mpd) Previously, OCBC award Travel$ based on dollar spend, rounded down to the nearest dollar. So this means that there will be slight changes to the number of Travel$ you earn after 1 Jun: Transaction amount Local/Overseas spend Travel$ earned before 1 Jun Travel$ earned on or after 1 Jun $4.99 Local 4.8 0 …

No more 10X on PayWave payments using UOB Preferred Platinum Visa physical card

UOB has made a small change to their terms and conditions for the UOB Preferred Platinum Visa card. From 2 May, only mobile contactless payments and selected online transactions will earn 10x UNI$ (or 4 mpd). Mobile payment includes Apple Pay, Samsung Pay, Google Pay and UOB Mighty. The cap of S$1,000 per calendar month remains to earn the elevated number of UNI$, after which the earn rate reverts to the usual 0.4 mpd. What this means is that using the physical credit card on the PayWave terminals will only earn you a measly 0.4 mpd, so you are better off loading that card on your mobile phone and leaving the card at home. Note that this does not include transactions made by Samsung’s Magnetic Secure Transmission (MST) technology. NFC payments using Samsung Pay are somewhat in the grey zone, so your mileage may vary. Also, public transport payments via SimplyGo are excluded, so you will earn 0.4 mpd for those. Current practice Currently, cardholders will earn 10 UNI$ (or 4 mpd) for all contactless payments, as …