If you’ve ever read our comprehensive guide to miles credit cards in Singapore, you’ll probably know that many miles cards that cater to similar categories of spending. Quite often, their benefits may be nearly identical. Hence, we’re pretty excited to do this review on the UOB Visa Signature Card, simply because it plays in a space that not many banks do.
If you travel often or travel for business, you’ll want to keep reading. Let’s jump right in and talk about why we think this card could really be quite useful in your wallet.
Features of the UOB Visa Signature Card
1. Up to 4 miles per S$1 (10X UNI$/S$5) spent
Foreign currency spends, including those made online
Here’s why we think that this is the best card for overseas use – you get 4 miles/dollar that you spend in foreign currencies. So, whether you are holidaying in Amsterdam or on a business trip, each time you use your card outside Singapore, you get 4 miles/dollar. You just need to make sure you also pay in foreign currencies.
You also get 4 miles/dollar when you’re making online transactions in foreign currencies. What you do need to keep in mind, though, is that transactions made in Singapore but in foreign currencies will earn the points for foreign currency transactions only if the payment gateway is not in Singapore.
Here is a snapshot from UOB’s terms and conditions page:
What does this mean? If you are in Singapore and making a purchase in AUD, there is a chance that the payment gateway is still located in Singapore, especially for big multinational companies. Should this be the case, your transaction will not be counted as an eligible online transaction for bonus UNI$ and will earn the regular UNI$0.2 (equivalent to 0.4 miles) per S$1.
The safe thing to do is to use the DBS Woman’s World Mastercard or BOC Elite Miles Card for your online transactions. With the DBS WWM card, you get 4 miles/dollar as long as it’s an online transaction (exclusions aside). You get 5 miles/dollar if you use the BOC Elite Miles World Mastercard and spend in foreign currencies.
Petrol spends and contactless transactions
You get 4miles/dollar on all petrol spends (except Shell). You also get 4miles/dollar on contactless transactions made via Visa payWave, Samsung Pay, UOB Mighty, or Android Pay.
However, in order to get this earn rate, you need to spend a minimum of S$1,000 per statement month. This time, the spend needs to be in SGD.
UOB’s own Preferred Platinum Visa Card competes in this space, as the card also awards 10X UNI$ on contactless transactions. All petrol stations in Singapore accept contactless payments, so by extension, also earn you 10X UNI$.
Take note of the statement period, minimum spends and caps
If you have been reading this post clearly, you will see that each time we spoke about the minimum amount that needed to be spent, we mentioned statement period and not calendar month. This is an important distinction to make.
You see, if your statement period is from the tenth of one month to the tenth of the next, you must make sure that the minimum spend amount is posted to your account within the statement month.
Keep in mind is that bonus UNI$ across all categories is capped at UNI$4,000 per statement period. So, essentially, to maximise the benefits on your card, you shouldn’t spend more than S$2,000 each statement period. Your minimum spend is either S$1,000 in foreign currency or S$1,000 in SGD.
Once you have reached the cap of UNI$4,000 each month, every additional S$1 you charge to your card will only get you UNI$0.2 or 0.4 miles.
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2. Up to 10% SMART$ rebate
With the UOB Visa Signature Card, you also get to enjoy up to 10% SMART$ rebate at participating SMART$ merchants. If you’re interested in seeing the full list of merchants, visit this page.
The downside is that you don’t get UNI$ when you transact at SMART$ merchants. Which is why Shell petrol stations, which is a SMART$ merchant, doesn’t earn you 10X UNI$.
Final thoughts about the UOB Visa Signature Card
The UOB Visa Signature Card, is, without the shadow of a doubt, the best credit card to use for overseas spending when you’re there physically. In fact, the card face on the credit card has already given us a hint as to the kinds of people who will most likely benefit from its features.
If you’re a business traveller who makes regular overseas spends anywhere within the vicinity of S$1,000 and S$2,000, you should consider getting the UOB Visa Signature Card.
The great thing about a UOB credit card is that you can pool all your UNI$. Hence, we would complement the card with the UOB Preferred Platinum Card for 10X UNI$ on online and contactless transactions, and the UOB PRVI Miles Card for general spending and travel bookings.
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