CashBack or Miles from insurance and income tax payments? What are your thoughts on your specified preference?

It would depend on your lifestyle. Are you a frequent traveller and a miles collector?

If you are a frequent traveller, miles would be good. If you are currently collecting miles elsewhere, then yes its better to add on with tax or insurance payment miles.

If you are not a traveller or a current miles collector then stick with cashback.

Personally prefer cashback because I only travel once a year hahah and I don't mind paying for air tickets during sales. If you don't want to read too much into TnCs or to fulfil some bank's affiliation with an insurance company, I recommend the UOB One Card for cashback.

-requirements: min $500 spending in one month with min 5 transactions (food, transport, insurance, shopping, utilities etc)

-in the event that you are looking to purchase insurance and have a multiplier acc with some bank, I wouldn't suggest focusing too much on the cashback or step up in interest rates if you buy through the bank tbh... look at the policy and decide.

For income tax, I believe most cards/banks exclude payments made to government organisations so I don't think you should focus too much on that!