best card for overseas spending

[saintgtril]

DBS issued amex cards is 3% http://www.dbs.com.sg/personal/cards/cards-rates-fees.page

DBS in-house credit card is 2.5%. (quoted from http://www.dbs.com.sg/personal/cards/cards-rates-fees.page)
CIMB card is 1.5% (quoted from http://www.cimbbank.com.sg/index.php?rp=card+faqs)

I know POSB everyday offers 2% cash rebate for oversea spend.
CIMB offers 1% rebate for oversea spend.

It seems both are on-par.

 

[Trazora]

From http://www.cimbbank.com.sg/index.php?tpt=&ch=gen_fee&pg=gen_fee_general&category=71:199
Should be around 2.4% for cimb

CIMB World/Platinum/Classic MasterCard Cross border fee of 0.8% is a service charge levied by MasterCard for transactions made outside of Singapore/with merchants outside of Singapore. Currency conversion assessment of 0.2% is a service charge levied by MasterCard for transactions in foreign currencies. Administrative fee of 1.4% is a service charge levied by CIMB Bank Berhad for transactions in foreign currencies.

CIMB Visa Infinite/Signature Card

Cross border fee of 1% is levied by Visa for transactions made outside of Singapore/with merchants outside of Singapore in foreign currencies. Cross border fee of 0.8% is levied by Visa for transactions made outside of Singapore/with merchants outside of Singapore in SGD currency. Administrative fee of 1.4% is a service charge levied by CIMB Bank Berhad for transactions in foreign currencies.

 

[subaru24]

Credit card with highest return for foreign exchange currency

Currently looking for creditcards which offer highest return in foreign exchange currency to use overseas. Besides upb one card,which credit card offer better deals (cash rebates etc)

 

[Trazora]

http://info.maybank2u.com.sg/personal/cards/special-promos/visa-cc-overseas.aspx
currently good promotion from maybank. Get S$75 rebate with your Maybank VISA credit card for min S$500 Overseas Spend. Valid from 1 April to 30 June 2015. Cash Rebate is limited to the first 400 eligible redemptions only

 

[purpletoysmum]

http://info.maybank2u.com.sg/personal/cards/special-promos/visa-cc-overseas.aspx
currently good promotion from maybank. Get S$75 rebate with your Maybank VISA credit card for min S$500 Overseas Spend. Valid from 1 April to 30 June 2015. Cash Rebate is limited to the first 400 eligible redemptions only

This kind of promo usually finishes quite quickly. If you haven't spent by now, your chances of getting within the first 400 are slim. The spend amount required is quite small.

 

[johanyu]

http://info.maybank2u.com.sg/personal/cards/special-promos/visa-cc-overseas.aspx
currently good promotion from maybank. Get S$75 rebate with your Maybank VISA credit card for min S$500 Overseas Spend. Valid from 1 April to 30 June 2015. Cash Rebate is limited to the first 400 eligible redemptions only

This is very hard as you do not know if you within the first 400, and they will not tell you your number.

 

[johanyu]

From http://www.cimbbank.com.sg/index.php?tpt=&ch=gen_fee&pg=gen_fee_general&category=71:199
Should be around 2.4% for cimb

CIMB World/Platinum/Classic MasterCard Cross border fee of 0.8% is a service charge levied by MasterCard for transactions made outside of Singapore/with merchants outside of Singapore. Currency conversion assessment of 0.2% is a service charge levied by MasterCard for transactions in foreign currencies. Administrative fee of 1.4% is a service charge levied by CIMB Bank Berhad for transactions in foreign currencies.

CIMB Visa Infinite/Signature Card

Cross border fee of 1% is levied by Visa for transactions made outside of Singapore/with merchants outside of Singapore in foreign currencies. Cross border fee of 0.8% is levied by Visa for transactions made outside of Singapore/with merchants outside of Singapore in SGD currency. Administrative fee of 1.4% is a service charge levied by CIMB Bank Berhad for transactions in foreign currencies.

The percentage is not match with this http://www.cimbbank.com.sg/index.php?rp=card+faqs

 

[johanyu]

DBS in-house credit card is 2.5%. (quoted from http://www.dbs.com.sg/personal/cards/cards-rates-fees.page)
CIMB card is 1.5% (quoted from http://www.cimbbank.com.sg/index.php?rp=card+faqs)

I know POSB everyday offers 2% cash rebate for oversea spend.
CIMB offers 1% rebate for oversea spend.

It seems both are on-par.

Only with minimum spend of $1000 (include local spend) and max rebate of $10 for overseas charge.

Subject to a minimum total spend of S$1,000 on your POSB Everyday Card within the same calendar month and capped at Daily$10 per Card account per month (effective 01 February 2015). Not applicable for transactions made overseas in Singapore dollars, for card-not-present transactions such as online transactions, mail/phone order in foreign currencies. 0.3% cash rebate will be credited upfront and the additional 1.7% cash rebate will be credited by the end of the following calendar month of which transaction was made. Click here to see how it works.

https://www.posb.com.sg/personal/cards/credit-cards/posb-everyday-card

 

[hwmook]

DBS in-house credit card is 2.5%. (quoted from http://www.dbs.com.sg/personal/cards/cards-rates-fees.page)
CIMB card is 1.5% (quoted from http://www.cimbbank.com.sg/index.php?rp=card+faqs)

I know POSB everyday offers 2% cash rebate for oversea spend.
CIMB offers 1% rebate for oversea spend.

It seems both are on-par.

You conveniently forgot about the currency conversion cost mentioned in the FAQ. The currency conversion cost by Visa and MC is 1% which make it a total of 2.5%. CIMB is worse off in your case.

 

[Trazora]

DBS in-house credit card is 2.5%. (quoted from http://www.dbs.com.sg/personal/cards/cards-rates-fees.page)
CIMB card is 1.5% (quoted from http://www.cimbbank.com.sg/index.php?rp=card+faqs)

I know POSB everyday offers 2% cash rebate for oversea spend.
CIMB offers 1% rebate for oversea spend.

It seems both are on-par.

Actually neither is attractive, net loss. Worse still if CIMB card is 2.4% foreign transaction total fees. Prefer UOB one for 2%+3.33% rebate - 2.5% foreign transaction total fees = net 2.83% rebate

 

[Trazora]

You can refer to http://sgtips.com/tips/credit-cards-overseas for the consolidated list of overseas transaction fees for various banks as per 28 Dec 2014. I verified most of the values to be current except can't find any info for diners club 1%.

To summarise:
Citibank Amex: 3.3%
DBS Amex: 3%
OCBC VISA/Masters: 2.8%
Std Chartered: 3.5%
UOB Amex: 3.25%
CIMB: 2.4%
Diners Club: 1%
Maybank Visa Diamante, Visa Infinite, and World Mastercard: 2.75%
All other VISA/Masters cards for all banks: 2.5%

 

[johanyu]

Actually neither is attractive, net loss. Worse still if CIMB card is 2.4% foreign transaction total fees. Prefer UOB one for 2%+3.33% rebate - 2.5% foreign transaction total fees = net 2.83% rebate

why CIMB the worse since they are only 1%+1.4%
I thought SCB would be the worse

CIMB only do not have internet banking to monitor the usage

 

[Trazora]

why CIMB the worse since they are only 1%+1.4%
I thought SCB would be the worse

CIMB only do not have internet banking to monitor the usage

Was responding wrt to the post of comparing posb and cimb. if cimb give 1% only and there is 2.4% foreign conversion fee, it mean net loss if use cimb. Anyway the point I saying I ptefer uob one that give net positive rebate

 

[ikilledbarbie]

are prepaid cards good? and if i get a prepaid card in the ccy that i will be using when im overseas.. it takes away the conversion risk right?

 

[Trazora]

are prepaid cards good? and if i get a prepaid card in the ccy that i will be using when im overseas.. it takes away the conversion risk right?

For imagine Amex card or FEVO there is 2.5% cross currency conversion fee or 1.5% cross border conversion. Using imagine Amex card can avoid DCC and you get the rebate from top-up using credit card and 5% rebate in amex purse for first S$100 spend

 

[ikilledbarbie]

For imagine Amex card or FEVO there is 2.5% cross currency conversion fee or 1.5% cross border conversion. Using imagine Amex card can avoid DCC and you get the rebate from top-up using credit card and 5% rebate in amex purse for first S$100 spend

so imagine amex vs a normal citibank cc - fees both 2.5%? the differences are then the individual benefits offered by the card right?
(points, miles, etc)

sorry for the questions

 

[Trazora]

so imagine amex vs a normal citibank cc - fees both 2.5%? the differences are then the individual benefits offered by the card right?
(points, miles, etc)

sorry for the questions

I would think so. Anyway Amex is not so widely used and there are people that experienced merchants that allow paying using normal Amex CC but don't allow paying by imagine Amex card. So you would like to also bring another VISA/Mastercard for the overseas trip.

 

[PeachGal]

I would think so. Anyway Amex is not so widely used and there are people that experienced merchants that allow paying using normal Amex CC but don't allow paying by imagine Amex card. So you would like to also bring another VISA/Mastercard for the overseas trip.

Yes. I agreed that always having the classic Master/Visa around for overseas. I experienced many times from merchants, where Amex,jcb,diners etc cant be accepted.

 

[CeSaRiO]

Hi all,

I'm going to Japan end this month and I might purchase some big ticket items there. I have some queries and unsure on using my credit cards there.

Japan is fond of Visa compared to MasterCard and I'm unsure on the exchange rates plus admin fee which will be charged to my card upon purchase.

Which card will be recommended for my trip there in Japan?

Tia

 

[Trazora]

Hi all,

I'm going to Japan end this month and I might purchase some big ticket items there. I have some queries and unsure on using my credit cards there.

Japan is fond of Visa compared to MasterCard and I'm unsure on the exchange rates plus admin fee which will be charged to my card upon purchase.

Which card will be recommended for my trip there in Japan?

Tia

You can get the VISA exchange rate here http://www.visaeurope.com/making-payments/exchange-rates

If you are buying things equivalent of between S$1000 and S$2000 you can use UOB Visa Signature. 5% rebate worth of UNI$, overseas usage fee of 2.5%, net 2.5% rebate.

You can also share what kind of things you buying, there are cards that give rebate for specific category spending