Asked on 16 Jan 2020
Hey there, I just apply a new credit card which requires me to spend 3000SGD transactions within 3 months in order to achieve a signup bonus miles. Then, I was thinking since I need to sent money regularly overseas for my family for consecutive months, might as well, I could achieve the goals together. Is this possible? Then which is the remittance platform that could give me the lowest fee?
I should think Revolut will be your answer. I tried this app recently and my understanding from a friend who introduced it to me is that there are no fees. You just need to under stand what are the T&Cs of your particular promotion, i.e. what counts as qualifying spend, whether you earn miles on it or not. If it counts as qualifying spend, then by all means go for it, especially if the sign up bonuses was what made you sign up in the first place.
Topping up prepaid currency cards might not be liable for miles/rewards as the merchants might fall under the exception list.
try checking the MCC code of the vendor and cross check with your credit card bank before you do so
If your family lives in the philipines, youcan see if the credit card you sign up counts grab as qualifying spend.
Spend by topping up onto grab and then transfer the money to singtel. Singtel has one of the lowest remittance for php. Other countries will have to try other methods
I am not sure if charging credit card to prepaid cards are liable for the promotions. If not, you can do a bank transfer or paypal over to their bank account at a small fee or free depending on which service you use.