Guide for Frequent Travellers: How to Choose a Travel Credit Card

When it comes to the jet-setting lifestyle, selecting the best credit card for travel can significantly enhance your experiences. Just as every traveller is unique, so is every travel credit card. Ahead, we highlight what to look for in choosing one, and explore why OCBC's 90°N Card is an excellent choice for globetrotters like you.

Unpacking the benefits of travel credit cards

Travel credit cards are financial tools designed for individuals who travel for leisure or business. These cards function much like regular credit cards but with an additional suite of travel-focused benefits and rewards that make every transaction worthwhile. Here's a more detailed breakdown of these benefits:

1. Air miles accumulation

One of the primary benefits of a travel credit card is the accrual of air miles. You accumulate air miles for each dollar spent using the card, which can then be redeemed for flight tickets. This means your everyday spending can contribute towards your next vacation. Some cards, such as the OCBC 90°N Card, expedite this process by offering more miles for spending in foreign currencies or specific categories.

2. Lounge access

One of the underrated pleasures of air travel is the comfort and convenience provided by airport lounges. Some travel credit cards offer complimentary or discounted access to airport lounges worldwide. These lounges are a sanctuary from the bustling airport crowds, providing comfortable seating, food and drink, shower facilities, and even rest zones.

3. Travel insurance

Travel’s unpredictability calls for a safety net. Several travel credit cards provide complimentary travel insurance coverage when you use the card to book your itinerary. This safeguard, covering aspects like trip cancellation or interruption, medical emergencies and lost luggage, enhances your journey's tranquillity.

Key travel credit card considerations

With the above benefits in mind, let's examine the factors to consider when choosing a travel credit card that amplifies the rewards of your adventures.

1. Consider your travel goals

For starters, your personal travel habits, lifestyle and goals are paramount in determining which miles credit card will serve you best. For instance, consider how often and where you travel. If you're an individual who constantly finds themselves in a different time zone, your needs will vastly differ from those of a casual vacationer. A regular overseas traveller would significantly benefit from a card that offers high miles accrual on foreign currency spending.

Imagine dining at a local restaurant in Paris, shopping in the vibrant markets of Tokyo, or booking a hotel in New York – and with each transaction, your air miles balance grows. In essence, the very act of travelling becomes a means of funding future travel experiences, creating a rewarding cycle of exploration and discovery.

2. Evaluate annual fees

Annual fees are a critical aspect of any credit card decision. While they can seem like an unnecessary cost, it's crucial to view them in the context of the rewards and benefits the card offers.

The annual fee is essentially the price you pay for the advantages your card provides. In the case of a travel credit card, these benefits can range from air miles accrual to travel insurance and other luxury perks. Each of these has a value that can significantly outweigh the cost of the annual fee when added up.

Some travel credit cards may waive the annual fee for the first year or offer a lower promotional rate, allowing cardholders to evaluate the card's benefits before the full annual fee kicks in. It's important to keep in mind, though, that these offers are usually introductory and the regular annual fee will apply after the promotional period. Therefore, when evaluating the annual fee, don't look at the cost in isolation. Take into account the potential rewards and benefits the card can bring you. If the benefits you anticipate earning surpass the annual fee cost, the card offers good value for you. After all, what matters isn't just the cost of the card, but the return on your investment in it.

3. Consider conversion rates

Air miles rewards often serve as a primary attraction for many travel credit card users in Singapore. Therefore, understanding the conversion rates is critical – how much spending translates into a mile. For instance, a card might offer 1.3 miles per dollar spent in local currency and 2.1 miles per dollar spent in foreign currency, like the OCBC 90°N Card. The higher the conversion rate, the faster you accumulate miles, bringing you closer to free or discounted flights.

Also, consider the longevity of these miles. Cards like the OCBC 90°N Card feature miles that come with no expiration date, providing you with the freedom to amass miles over time and redeem at your leisure. This flexibility can be incredibly valuable, especially for occasional travellers who may take longer to collect enough miles for a redemption. This ensures that every mile earned is a mile you can use, no matter how long you've been saving up.

4. Factor in additional perks

Earning air miles is great, but not so great when they expire.

Air miles can be a significant perk, but they are not the only advantage of travel credit cards. Many cards offer additional luxuries such as access to airport lounges, cash rebates and vouchers. Assess these benefits in light of your travel patterns and preferences. For instance, if you often endure long layovers, a card providing airport lounge access would be highly beneficial.

5. Travel insurance discounts

Some travel credit cards offer complimentary travel insurance as a benefit when you book your travel expenses using the card. This insurance often extends to a wide range of potential travel disruptions or mishaps. This includes coverage for trip cancellation or interruption, which can cover the non-refundable part of your trip if you need to cancel or cut your journey short due to specific reasons like illness or severe weather conditions.

That being said, it is essential to familiarise yourself with the terms and conditions linked to the complimentary travel insurance. For instance, the insurance might require you to pay for your travel expenses fully with your credit card for the coverage to kick in. Also, take note of the maximum claim amounts, and what is excluded from coverage.

Why choose the OCBC 90°N Card

With a multitude of travel credit cards on the market in Singapore, the hunt for the best credit card for miles can seem overwhelming. If you're someone who travels frequently and keenly keeps an eye on deals and travel hacks, the OCBC 90°N Card stands out as a prime contender.

The OCBC 90°N Card provides a generous miles earn rate for both local and foreign currency spending, making it among the best miles credit card to utilise both in Singapore and abroad. One exceptional feature of the OCBC 90°N Card is the absence of an expiry date on your miles. This non-expiry policy allows you to accumulate miles at your own pace, free from the pressure of having to redeem within a specific timeframe. Whether you're saving miles for a dream long-haul business class flight or a quick regional escape, the card ensures your miles are ready and waiting.

Another advantage of the OCBC 90°N Card is that there is no cap on the amount of 90°N Miles you can earn each month. This unlimited earning potential means that the more you spend, the more rewards you garner – making it an excellent choice for high spenders.

OCBC offers two types of 90°N Cards, namely the Mastercard and Visa versions. Being a part of separate card associations – Mastercard and Visa – you can expect exclusive promotions or targeted offers from either one.

That said, both share a common rewards currency, the 90°N Miles. This unity in rewards system ensures that the miles you accumulate from spending on either the Mastercard or Visa card get combined and reflected as a single pool of rewards currency in your account statement. This shared currency framework streamlines your rewards management, making it easier for you to keep track of your earnings and plan your redemptions accordingly.

Bonus: Explore other OCBC travel credit cards

Besides the OCBC 90°N Card, you can also consider the OCBC VOYAGE Card which offers a robust rewards system that’s equally tough to beat. With OCBC Voyage Card as your travel credit card, you can explore the chance of earning 1.3 miles per dollar spent in local currency and 2.2 miles per dollar spent in foreign currency.

In summary

Overall, your unique travel habits, lifestyle and preferences are at the heart of the process when it comes to identifying the best credit card for miles in Singapore. Your best fit will be a card that aligns perfectly with your requirements and provides attractive rewards and benefits.

If you're a wanderluster eager to explore the world without compromising on the rewards you can reap, then it's time to find out more about the OCBC 90°N Card. Discover how this card can align with your travel habits and become an indispensable part of your journey.