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Anyone knows if there's a way to calculate how much are miles worth?
As CIMB changes it's terms for its Visa Signature Card, I'm looking for alternative cards to reap rewards. I happened to chance by quite a number of miles card but not sure if its really worth it.
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HC Tang
13 May 2019
Financial Enthusiast, Budgeting at The Society
AFter CIMB gone, so far the best still about 5% for cash back.
For miles card, do check out: https://mainlymiles.com/credit-cards/
more readings at also: https://milelion.com/
Miles worth differ per card / membership, see example: https://mainlymiles.com/whats-a-krisflyer-mile-...
Happy Flying :)
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I always said again and again you either be team cashback or team miles, not both as you will be on the losing end.
It is very hard to give a definite answer as to how much 1 mile is worth, since different people value it differently. Too many factors to consider. HC Tang gave a few suggested readings so do take a look.
There are a few cards that gives more than 5% cashback. UOB YOLO, ONE Card, OCBC 365 etc.
As far as I know, there is no one card that gives a flat 5% cashback across all spending categories (banks will make a loss so...) but the cards I mentioned earlier give rather high cashback for different spending categories. You can refer to this page for more reviews: https://seedly.sg/reviews/credit-cards