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best card for overseas spending

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Old 24-08-2012, 01:48 PM   #46
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yes but most cards that offer point system instead of cash rebate require certain amount of spend to be useful...

e.g. if total spend on a trip is less than $1000... then would that help? the points are not enough to exchange for anything right?
Using the Maybank Horizon card overseas can get you 5x points which can be used for vouchers. You only need to spend $400 to get a $10 treats voucher (2.5%). Better still if you redeem during your birthday month (for rewards infinite members) - only need to spend $200 overseas for that voucher.
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Old 24-08-2012, 03:01 PM   #47
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Guys, am looking for another card for my overseas spend. Already got maybank horizon which is a excellent card, can gather miles like crazy with 5x and their fees are the lowest. However, I need another card now due to increased spending. Which is the next best card? or should i just go get another maybank horizon? lol
if ur concern is credit limit not enough.. just pay/deposit additional 10k(whatever amount u want) into Horizon card.. and ur credit limit is increased by the amount u deposited .. u can buy more things now and get all the points u want.. 100k spend also can.. if u deposited that much
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Last edited by ykeen; 24-08-2012 at 03:05 PM..
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Old 24-08-2012, 08:22 PM   #48
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Using the Maybank Horizon card overseas can get you 5x points which can be used for vouchers. You only need to spend $400 to get a $10 treats voucher (2.5%). Better still if you redeem during your birthday month (for rewards infinite members) - only need to spend $200 overseas for that voucher.
isit? $400 can redeem the $10 voucher straight away?

So thats the best card for overseas spend?
and special requirements to take note? I have the card but have not been using...

my spending is once a blue moon business trip and only pay for hotel bills therefore not alot and want to be able to easily redeem the benefits...
so that consider overseas transaction right?
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Old 24-08-2012, 09:36 PM   #49
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isit? $400 can redeem the $10 voucher straight away?

So thats the best card for overseas spend?
and special requirements to take note? I have the card but have not been using...

my spending is once a blue moon business trip and only pay for hotel bills therefore not alot and want to be able to easily redeem the benefits...
so that consider overseas transaction right?
yes as long the bill and statement of the transaction is in foreign currency u will earn 5X points on that transaction. say for example your business trip total bill for hotel is equivalent to > S$400 then if u used Horizon Plat to pay (insist the cashier leave it as the local currency there, don't select convert to S$ ) then u would have earned 2000 points..

according to tr'eats Vouchers / tr'eats Dollars > Cards > Personal > Maybank2u.com Singapore u can redeem $10 voucher just based on 2000points.. the following month.. etc
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Old 24-08-2012, 09:44 PM   #50
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isit? $400 can redeem the $10 voucher straight away?

So thats the best card for overseas spend?
and special requirements to take note? I have the card but have not been using...

my spending is once a blue moon business trip and only pay for hotel bills therefore not alot and want to be able to easily redeem the benefits...
so that consider overseas transaction right?
Any transaction in foreign currency and any travel-related expense (air tickets, hotel, tour package) qualify for 5x pts. You can redeem the vouchers through the ibanking once the transactions have been posted.

I can't say if it's the best card but it's pretty good if you want vouchers instead of miles. (UOB PRVI miles and ANZ travel card have better earn rates for miles)
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Old 24-08-2012, 09:49 PM   #51
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Guys please take note of the additional charges on the purchase before considering the 'extra' miles you are getting.

I was intending to put a big purchase on the CC until I realised the extra charges are about 3-4% for VISA/Mastercard/AMEX in addition to lousy exchange rate.

That's the only reason the bank gives you extra miles to make up for that.
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Old 25-08-2012, 12:12 AM   #52
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Guys please take note of the additional charges on the purchase before considering the 'extra' miles you are getting.

I was intending to put a big purchase on the CC until I realised the extra charges are about 3-4% for VISA/Mastercard/AMEX in addition to lousy exchange rate.

That's the only reason the bank gives you extra miles to make up for that.
It's actually between 2.5% (most common) to 3.5%. Not much one can do about that unless one carries a lot of cash.. Plus, miles can be worth more than the service fee.
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Old 25-08-2012, 01:12 AM   #53
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Guys please take note of the additional charges on the purchase before considering the 'extra' miles you are getting.

I was intending to put a big purchase on the CC until I realised the extra charges are about 3-4% for VISA/Mastercard/AMEX in addition to lousy exchange rate.

That's the only reason the bank gives you extra miles to make up for that.
which is why it is important to make prudent purchases with credit cards when one is overseas.

if an item cost S$100 in Singapore, you have to make sure the same item is selling at, maybe, the equivalent of S$80 in your visiting country. when you factor in the lousy exchange rates and the service fees, you would still have nett savings. the free miles/vouchers given by the card-issuing banks just sweetened the deal further.
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Old 25-08-2012, 01:17 AM   #54
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whenever i spend overseas, i don't see any item "surcharge" in my statements... is it that they factor this into the exchange rate already?
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Old 25-08-2012, 12:53 PM   #55
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whenever i spend overseas, i don't see any item "surcharge" in my statements... is it that they factor this into the exchange rate already?
all factor in
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Old 25-08-2012, 12:55 PM   #56
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Yeah, different card have different exchange rates and surcharge, even if both cards are Master Card, they still have different surcharge as determined by the bank.
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Old 25-08-2012, 02:08 PM   #57
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yes, i read that on SCB terms..

so far the lowest i saw was maybank and cimb.. 1.5%... anyone knows anymore lower one?
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Old 25-08-2012, 02:48 PM   #58
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Yeah, different card have different exchange rates and surcharge, even if both cards are Master Card, they still have different surcharge as determined by the bank.
Exchange rates are the same as they are all set by Visa/MC. But surcharges can be different.
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Old 25-08-2012, 02:52 PM   #59
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yes, i read that on SCB terms..
so far the lowest i saw was maybank and cimb.. 1.5%... anyone knows anymore lower one?
Most Visa/MC cards have that 1.5% bank surcharge on top of the 1% Visa/MC commission except for SCB which charges 2.5%.

Last edited by anfielder; 26-08-2012 at 12:40 PM..
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Old 25-08-2012, 05:41 PM   #60
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aiyah... just add 3% to market exchange rates unlikely to go wrong...

my recent shopping trip in Europe - spent almost $17000 on Citi Rewards & Manhattan... meals were with cash, otherwise Maybank Horizon

Manhattan - 2 cards max out the 5% rebate
Citi Rewards - I managed to exchange for $300 cash rebates with 78750 points as they awarded 10x points for shopping transactions - effective rate was about 3.8%

it all depends on what u gonna spend on your holidays
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