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Spot Exchange rate as of 29 May 2023 (Mon) = 3.40
Markup = Difference from spot, including Foreign currency fee, FX spread, card charges.

3% Markup from 3.40 = 97% * 3.40 = 3.3

Trust Card: SGD 29.50, Rate 3.39
- 0.3% Markup from Spot
- Low cost, almost zero markup
- 0.22% back in Linkpoints for non-FPG spend
- Net return = 0.22%-0.3% = -0.08% Negative
- Best use for students or people not using credit cards

Instarem Amaze
With Citi Rewards Card: SGD 30.03, Rate 3.33
- 2.1% Markup from Spot
- Fairly high cost, but lower than bank credit cards
- Earns 10x points or 4 mpd + 1% Instapoints (30 SGD = 30 pts)
- Value of mile 1.25 cpm, 4 mpd = 5% Cashback
- Net return = 5% + 1% - 2.1%. = +3.9% Positive

With Amaze Wallet: SGD 29.50, Rate 3.39
- 0.3% Markup from Spot
- Low cost, same as Trust
- Top-up wallet using Mastercard with no fees
- Earns 4% Instapoints for transactions between S$10-S$125. 116 pts for $29.50
- Net return = 4-0.3 = +3.7% Positive

With UOB EVOL card: SGD 30.46, Rate 3.28
- 3.5% Markup from spot
- Highest cost
- Earn 6.6% Effective cashback with min spend $600 and qualify for UOB One account interest
- Net return = 6.6 - 3.5 = +3.1% Positive

Final Rank
1. Amaze with CRMC +3.9%
2. Amaze with wallet +3.7%
3. UOB EVOL +3.1%
4. Trust -0.08%

Try out with SC Journey card starting Jun
- 2 mpd for foreign currency spend
- Foreign currency fee of 3.5% rebated 2 months after promotion period

#Sponsored #Webull

[JeromeTan]

you should put a caveat on the the option 2 (amaze wallet) cos it's time limited promotion.

[raj]

Thank you so much. This is good stuff. I appreciate your time and effort to research and make this awesome video❤

[yong_L]

come on instarem amaze need to spend at least 2k non sgd spending to even get cashback and instapoint expire in 12 months. First I won't even include instapoint in the calculation due to the high spending amount. Second for mile per dollar you can only use it once you accumulate enough miles before the expiry so it make no sense for low spender. So how much money you have to spend per year to get that 3.9% worth of realise saving. What work for you doesn't mean it work for others. I will recommend you create video like kelvin, cater different group of people with different spending instead of insist with your own ideology .

[maxtan]

Chris, can make a video about Citi pay all. I have use your code for the amaze and trust bank. Haha

[yirenong]

The idea that 4 miles per dollar is equivalent to 5 percent cashback is flawed because not everyone wants miles.Reward Points can be converted to cash at a rate of 2.27 percent. So the actual return is 2.27 - 2.1 which is only 0.17 percent. Not to mention there are caveats to go through for Amaze/Citi Rewards while It is hassle free for Trust.

[edaa_mone__]

Bro is it possible for a S pass holder in Singapore can afford a credit card, if it's possible can you suggest me the better bank for it 🙏
And one suggestion it will be nice if you change the mic into a smaller version!

[Foodierary]

Have been using UOB EVOL / OCBC Frank / Instarem Amaze for my overseas spending. Agree that after taking into account of the high rebate, the "Exchange Rate" is indeed much better. That said, I use Trust on some of my overseas spending for eg, on Car Rental which cost way above the $500 because the EVOL / Frank has cap on the rebate per category and it's a category that doesn't earn me high rebate on my CC when paired with Instarem Amaze.

Will be checking out the SC Journey! Thanks!

[loneni]

Which is better paying from USD wallet from multi currency account using debit card or using credit card in overseas?

[neutraluser]

Nice, so many card applications. Btw, does Citibank still require 2 identification documents to apply for their card ? Your ID is insufficient to apply for their card ?

[minweetay]

Can talk about amex platinum charge card..thank

[wrappataiga]

For people without city credit cards, Instarem and Trust is basically the same since the 3.7% is only during promotion period