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UOB Preferred Platinum Visa Card

by Kshitiz V Sharma on

The Bottom Line

UOB Preferred Platinum Visa Card
Above Average But Not Great

10 UNI$ / S$5 on Online Shopping, Entertainment & Contactless Payments and 1 UNI$ / S$5 on all other spends.

Monthly Spend S$1K S$2K S$4K S$6.5K S$10K
Net Reward Yield 2.7% 3.0% 2.1% 1.6% 1.2%
Est. Monthly Reward (S$) 25 55 85 100 120
All-Singapore Rewards Rank* 5 4 8 22 31
Within Bank Rank* 2 2 5 7 7
* Based on est. net reward yield for more than 70 credit cards in Singapore, for each monthly spending level. Read about how we calculate the net reward yield here & here.

The UOB Preferred Platinum Visa Card gives effective rewards of 5.60% on Entertainment, Shopping / Online Shopping and on Contactless Payments, capped at 700 UNI$ per month or about S$20.

All other spending earns 0.56% with no monthly caps.

Overall, we estimate you can earn a net reward yield of 1.2-3.0% on all spending with this card in a month.

Because of the relatively low monthly cap on the higher reward categories, this card is only competitive for lower levels of monthly spending.

The Rewards

Card UOB Preferred Platinum Visa Card
Card Type Rewards
Reward Features 10 UNI$ / S$5 on:
– Online Shopping
– Entertainment
– Contactless Payments

1 UNI$ / S$5 on all other spends

Reward Caps UNI$700 / mth. on online shopping, entertainment and contactless payments
Other Rewards & Benefits – Complimentary Travel Insurance of S$500,000

– S$100 GrabFood voucher for UOB Visa Signature Supplementary Card

– S$6 off with min. S$80 spend on Shopee

Preferred Redemption Method Convert to KrisFlyer Miles @ 1 UNI$ = 2 KrisFlyer Miles on the UOB Rewards site.

Avoid cashback option as it earns S$0.01 – 0.02 / UNI$.

Converting to KrisFlyer Miles earns S$0.028 / UNI$^ or nearly 40 – 140% higher.

Fee for Points to Miles Conversion S$26.75
Minimum Points for Conversion to Miles 1500*
* Due to the conversion fee of S$26.75, converting a smaller number of points to miles is uneconomical.

^ Assuming S$0.014 / KrisFlyer based on our estimates.

Fees & Charges

Card UOB Preferred Platinum Visa Card
Income Criteria S$30,000
Annual Fee S$192.60
Min. Annual Credit Card Spend
for Fee Waiver
Supplementary Card Fee S$96.30 (2nd Card onwards)
Interest Rate 26.90%
Foreign Currency Markup 3.25%
Cash Advance Charge 8% of the transaction amount

The Best Credit Cards in Singapore

The Maybank Family & Friends Credit Card is the best cashback card for most people in Singapore. It has the highest cashback rate of 8% on 5 spending categories of your choice and also the highest monthly cashback cap of S$125.

We estimate you can earn a net reward yield of 3.0 – 4.8% with this card on monthly spends between S$800 – 4,000.

The KrisFlyer UOB Credit Card is the best rewards card in Singapore for most people. You can earn up to 3 miles per dollar spent with this card on dining, travel & online fashion and 1.2 miles per dollar on most other transactions.

We estimate you can earn a net reward yield of 2.5 – 2.8% on all your spending with this card.

The Citi Cash Back+ is the best cashback credit card if you spend more than S$6,000 a month on your card. Its cashback rate of 1.60% with no caps, overall or by category, is one of the highest in Singapore.

Learn more about which is the best card for you by reading our pieces on the best rewards card, the best cashback card and the best card combos in Singapore.

If you drive, consider our piece on the best card for petrol and if you’re a travel bug, read about the best card for travel.

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