Singapore Credit Card Cashback vs Miles Calculator
Free Singapore credit card calculator. Compare 1.5 percent flat cashback against 1.2 miles per dollar and find which earns more value for your spending pattern.
Compare flat cashback vs miles for your monthly spending.
Better option
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Annual cashback (1.5%)
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Annual miles value (1.2 mpd, 2c/mile)
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Annual miles earned
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Monthly spend total
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Your breakdown
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Amount
Cashback: simple and predictable
A flat 1.5 percent cashback card gives a known, immediate return on every dollar spent. On S$1,200 of monthly spending, the annual cashback is S$1,200 times 12 times 1.5 percent, which is S$216. No redemption needed, no transfer partners to navigate, no expiry anxiety. The DBS Live Fresh, Citi Cash Back+, and Standard Chartered Unlimited are examples of flat-rate cashback cards in Singapore. Some cashback cards cap the monthly cashback, so high spenders should check the cap before assuming a flat rate applies to all spending. For people who value simplicity and predictability, cashback is the right default, especially if travel redemptions are not part of their lifestyle.
Miles: higher ceiling, more complexity
A miles card earns airline miles or rewards points that can be redeemed for flights, hotel stays, or other benefits. At 1.2 miles per dollar and a 2-cent per mile valuation, the equivalent return is 2.4 percent, beating the 1.5 percent cashback card. However, that 2-cent per mile figure assumes you redeem miles well. Economy class redemptions on popular short-haul routes often deliver less than 1.5 cents per mile. Business class long-haul redemptions can deliver 4 cents or more. If you fly business class regularly, a miles card can easily provide 3 to 5 times more value than cashback. If you rarely travel or tend to redeem miles for economy tickets to nearby destinations, the cashback card often wins on actual delivered value.
The right card for Singapore spenders
Most financial advisers in Singapore suggest holding one miles card for discretionary spending and one cashback card for essentials, using each where it earns best. For dining, online, and travel, a miles card with bonus earn rates can produce 2 to 4 mpd. For groceries, utilities, and transport, a dedicated cashback card like the OCBC 365 with category-specific rates may outperform. The calculation that actually matters is: what is my realistic per-mile redemption value given how I travel? If you cannot answer that confidently, default to cashback. If you travel business class at least once a year on Singapore Airlines, a miles card typically wins decisively.
Frequently asked questions
How much is 1 air mile worth in Singapore?
The value of a Singapore Airlines KrisFlyer mile or other frequent flyer mile depends heavily on how you redeem it. Economy redemptions to nearby destinations often yield around S$0.01 to S$0.015 per mile. Business class redemptions to Europe or North America, where you pay the low points rate against a high cash fare, can yield S$0.04 to S$0.08 per mile. As a baseline, S$0.02 (2 cents) per mile is a commonly used planning figure for Singapore cards. Cashback is simpler because its value is known: 1.5 percent on S$1 spent is exactly S$0.015.
What are typical miles earn rates in Singapore?
Entry-level miles cards in Singapore typically earn 1.2 miles per dollar (mpd) on general spending. Mid-tier cards earn 1.2 to 1.4 mpd general with bonus rates of 2 to 4 mpd on selected categories such as dining, online spending, or travel. Premium cards like the Citi PremierMiles or HSBC TravelOne earn 1.2 to 1.3 mpd base. To beat a 1.5 percent cashback card, a miles card needs to achieve at least 1.5 percent equivalent value, which at 2 cents per mile requires earning 0.75 mpd, which most miles cards exceed.
Are there any taxes on cashback or miles earned in Singapore?
Cashback and miles earned from credit card rewards programs are generally not taxable income in Singapore. IRAS treats them as rebates or discounts rather than income, so there is no obligation to declare them in your tax return. This is consistent across banks and card types. If you are a business and earn cashback on corporate cards, the treatment may differ depending on how the expense is reported, but for personal cards there is no income tax implication.
Which categories earn the most on Singapore credit cards?
In Singapore, dining and online spending typically attract the highest bonus earn rates on miles and cashback cards. Cards like the DBS Altitude, UOB PRVI Miles, and OCBC Voyage offer bonus rates for travel-related spending. Cashback cards like the OCBC 365 and Standard Chartered Unlimited offer higher rates for specific categories such as groceries, petrol, and recurring bills. The best card depends on where you spend the most: a heavy dining and online spender gains more from a miles card with category bonuses, while someone with evenly spread spending may prefer flat cashback.