Credit card selection made easy for travellers

Singapore

IF you're wondering which credit card to use abroad during this June holidays, a homegrown startup may be able to help. GET.com, a comparison site for financial products, has analysed over 15 features and benefits across 130 cards on its database and created a list of the best cards to use, based on the globetrotter's travel patterns and lifestyle goals, says co-founder and editor-in-chief Grace Cheng.

"It's really a case of different strokes for different folks. Rather than fussing over which card provides the most number of miles or gives you the most comprehensive insurance coverage, it is more meaningful to understand one's personal travel profile so as to get the most value out of one's card," says Ms Cheng. GET.com's comparison looks at nine key types of travellers and recommends what it considers the two cards that pack the most punch for each of these groups. Some cards have perks that appeal to all types of travellers, while others are more targeted in their approach.

"For instance, a card that provides unrestricted access to worldwide airport lounges will resonate well with the business traveller as opposed to a budget-conscious traveller who seeks easy access to travel deals and cheap tickets," says Ms Cheng.

Likewise, a frequent traveller will benefit more from high miles conversion on overseas spend, versus an occasional traveller who will be better off earning miles on local spend, she adds.

Thus GET.com recommends that travellers "look beyond generic benefits" and get the card that best caters to their needs.

The nine categories in GET.com's comparison are business, frequent, time-strapped, occasional, patriotic, prestige, cashback-conscious, safety-minded and budget-conscious travellers.

Business travellers travel mainly for work. So convenience and a conducive environment for working on the go (such as access to airport lounges) are important to them, says Ms Cheng. In this category, the two top picks are the ANZ Travel Visa Signature, and The American Express (Amex) KrisFlyer Ascend.

The ANZ card offers unlimited access to over 100 Veloce VIP airport lounges worldwide, allowing for more comfort, complimentary snacks and drinks, wifi, and even shower and meeting facilities. The Amex card, on the other hand, promises four complimentary entries each year to any participating SATS Premier Lounge in Singapore and Plaza Premium Lounge globally, on top of a free stay each year at one of over 80 participating Millennium Hotels and Resorts.

Frequent travellers fly regularly and are usually enrolled in one or more airlines' frequent flyer programmes. "They gain from high miles earned, especially for overseas spend, as they travel often," says Ms Cheng. For this group, she recommends the DBS Altitude Visa Signature whose key benefits include high miles for online travel bookings and overseas expenses, as well as points that do not expire.

The card offers three miles for every Singapore dollar spent on online flight and hotel transactions (capped at S$10,000), two miles for every Singapore dollar spent overseas, and 1.2 miles for every Singapore dollar spent locally.

Time-strapped travellers do not have the luxury of time to plan or book their itineraries. They will hence find invaluable the bespoke concierge and travel planning services offered by the UOB PRVI Miles Platinum Amex and OCBC Voyage cards, says Ms Cheng. The latter even allows one to redeem frequent flyer miles to book a same-day flight, unlike most cards which can take up to three weeks.

Occasional travellers fly irregularly or only when required. For this group, high miles earned on local expenses and the flexibility to redeem rewards that matter, such as miles or cash rebates, are more important, says Ms Cheng.

A recommended card is the Tigerair Platinum which is currently running an Upfront Rewards plan that allows one to receive two one-way tickets by charging S$5,000 over 12 months on qualifying transactions. Cardholders also enjoy Tigerair perks such as advance seat selection, luggage upsize and priority boarding.

Patriotic travellers swear by a favourite airline or the national airline, in this case Singapore Airlines. The Amex Singapore Airlines KrisFlyer Gold offers high miles for bookings and associated spending with Singapore Airlines, as well as accelerated earn rates: 50 per cent bonus miles for S$5,000 spent in a calendar year. The card comes with a relatively low income requirement of S$40,000.

Prestige travellers actively seek out luxury pursuits, says Ms Cheng. For that reason, the Citi Prestige or Amex Platinum may be their best bet. Benefits range from complimentary golf course entries and automatic hotel memberships to exclusive dining privileges and preferential airfares.

Cashback-conscious travellers pursue the highest amount of cashback on their card expenses. GET.com's top pick, the ANZ Optimum World MasterCard, offers five per cent unlimited cashback for travel, dining and leisure-related purchases, and also one per cent cashback for all other purchases. The UOB One, the startup's second pick, offers up to 3.33 per cent cashback on all expenses, in addition to two per cent cashback on overseas expenses.

Safety-minded travellers seek extensive insurance coverage when they travel, says Ms Cheng. With the Citi PremierMiles Visa, the traveller is covered with S$1 million in accident insurance for him and his spouse, S$100,000 for emergency medical evacuation, S$40,000 for medical expenses, and some S$1,500 for baggage loss or delay.

Budget-conscious travellers prefer budget airlines and will seek benefits for travel on these airlines. At the same time, they keep an eye out for card bonuses such as low or no annual fees, says Ms Cheng. The Maybank Horizon Platinum Visa earns top spot not just because of its low income requirement (S$30,000) and annual fee (S$150), but its good miles rate, where cardholders earn 5X TREATS points (that's equivalent to two miles) for every Singapore dollar spent on travel-related expenses.

INFOGRAPHIC: GET.com's top picks