BOC Elite Miles World Mastercard: How Competitive Is It?

BOC Elite Miles World Mastercard
BOC Elite Miles World Mastercard

BOC Elite Miles World Mastercard: How Competitive Is It?

Market-Leading Miles Rates Locally & Abroad

Good for

  • People who prioritise rapid miles accrual over perks
  • Those seeking rewards for insurance premiums
  • Individuals who prefer a no-frills miles card

Bad for

  • Frequent travellers who prioritise luxury perks
  • People who want to avoid conversions & fees
  • Consumers who care about dining & lifestyle deals

Editor's Rating

4.5/5.0

If you prioritise rapid miles accrual above all else, Bank of China Elite Miles World Mastercard is by far one of the best options currently on the market. Cardholders earn a remarkable 1.5 miles (4.5 points) per S$1 spend locally and 3 miles (9 points) overseas. Both of these rates exceed the market standards of 1.2 miles and 2 miles per S$1, respectively. Even better, cardholders even earn rewards in frequently excluded categories, such as insurance premiums. There aren't any real perks or privileges to speak of, however, so BOC Elite Miles World Mastercard is best for consumers who want to maximise miles rather than travel in luxury.

ProsCons
  • 3 miles (9 pts) per S$1 overseas
  • 1.5 miles (4.5 pts) per S$1 locally
  • Insurance premiums eligible for rewards
  • Slightly higher S$203.3 annual fee
  • S$30 conversion fee, no auto-enrol
  • No travel perks or bonus miles
Card Overview
Pros:
  • 3 miles (9 pts) per S$1 overseas
  • 1.5 miles (4.5 pts) per S$1 locally
  • Insurance premiums eligible for rewards
Cons:
  • Slightly higher S$203.3 annual fee
  • S$30 conversion fee, no auto-enrol
  • No travel perks or bonus miles

What Makes BOC Elite Miles World Mastercard Stand Out

BOC Elite Miles World Mastercard is ideal for consumers who want to maximise miles accrual on nearly all of their purchases–even if that means giving up on travel perks and privileges. Cardholders earn 1.5 miles (4.5 pts) per S$1 spend locally and 3.0 miles (9 pts) per S$1 overseas. These rates are remarkably high, far exceeding those offered by cards with similar annual fees. In fact, BOC Elite Miles Card's rates even surpass those provided by pricier travel cards which also tend to expedite rewards.

Rate Comparison of Several Competitive Travel Cards

Travel CardLocal RateOverseas RateAnnual Fee
Amex SIA KF1.1 mi/S$12.0 mi/S$1S$176.55
Citi PremierMiles1.2 mi/S$12.0 mi/S$1S$192.6
DBS Altitude Visa1.2 mi/S$12.0 mi/S$1S$192.6
BOC Elite Miles1.5 mi/S$13.0 mi/S$1S$203.3
UOB PRVI Miles1.4 mi/S$12.4 mi/S$1S$256.8
OCBC Voyage1.2 mi/S$12.3 mi/S$1S$488
Featured travel cards may have boosted rates in specific categories that are not reflected here. Overseas rate for Amex SIA KF Card assumes June or Dec spending. DBS Altitude and UOB PRVI Miles both offer spend-based fee-waivers

BOC Elite Miles also stands out for its flexibility. Cardholders can earn competitive miles on nearly every purchase–even in categories commonly excluded by competitors. For example, consumers can still earn 1.5 miles per S$1 even on their insurance premiums. Very few cards reward such transactions. In fact, one of the only other miles-earning cards to do so, HSBC Revolution Card, is far more limited in its rewards scheme–only local dining & entertainment and online purchases (including bill-pay) are rewards-eligible. Overall, BOC Elite Miles Card is an excellent match for consumers seeking a miles card for everyday spending.

This may not be the best card for everyone, however. BOC Elite Miles Card does not offer any travel perks (such as lounge access, limo transfers, discounted green fees or even free travel insurance). It also doesn't offer any bonus miles. Most travel cards offer significant sign-on bonuses or annual renewal offers. Finally, there isn't an automatic miles-redemption programme which may prove very inconvenient for those seeking a lower-maintenance travel card.

Perk & Bonus Comparison of Several Competitive Travel Cards

Travel CardBonus MilesKey Perks
Amex SIA KFWelcome offers of 5k–25k miFree travel insurance, Hertz perks
Citi PremierMiles10k bonus mi w/ annual fee payment2 lounge visits/yr, free travel insurance
DBS Altitude Visa10k bonus mi w/ annual fee payment2 lounge visits/yr, free travel insurance, golf privileges
BOC Elite MilesN/A24/7 Concierge
UOB PRVI Miles20k bonus miles w/ S$50k/yr spendFree travel insurance, limo transfers
OCBC Voyage15k bonus mi w/ annual fee paymentUnltd lounge, free travel insurance, limo transfers, golf privileges
Bonus miles subject to change. Perks featured cover key benefit areas but are not necessarily all-inclusive

Nonetheless, BOC Elite Miles World Mastercard's remarkable rates make it one of the most competitive options currently available–especially for those who prioritise rapid miles accrual over travel benefits. While there's a S$203.3 annual fee, this is only about S$10 higher than the S$192.6 market average and can easily be recouped by the higher rewards rate.

How Does BOC Elite Miles World Mastercard's Rewards Program Work?

Use our quick guide below to learn how you can redeem BOC Elite Miles World Mastercard's rewards.

  • All points earned (inc. those from supplementary cards) are awarded to principal cardholder's account
  • Bonus points are can be redeemed for BOC Rewards vouchers, cash credit, annual fee waivers
  • Cardholders enrolled in the BOC Air Miles Programme can also convert points to KrisFlyer or Asia miles
  • Points can be redeemed in blocks of 30k points for 10k KF miles or 18k points for 6k Asia Miles
  • There is a S$30 transaction fee for each miles conversion
  • Bonus points expire 1 year after they're earned; miles expire according to designated frequent flyer programme's terms and conditions

BOC Elite Miles World Mastercard's Features and Benefits:

BOC Elite Miles World Mastercard
BOC Elite Miles World Mastercard
Card Overview
  • Annual Fee: S$203.3
  • Income Requirement: S$30,000 for locals, S$60,000 for foreigners
Rewards Rate Details
  • 3.0 miles (9 pts) per S$1 spend in foreign currency
  • 1.5 miles (4.5 pts) per S$1 spend locally
Benefits & Perks
  • 24/7 Concierge Service

BOC Elite Miles World Mastercard's Rewards Exclusions

Card annual fees, interest and late payment charges; goods and services taxes; cash advances; fund transfers; installment payments (in the form of Interest-free Installment Plans (IPP), purchase installments, statement installments and tax payment plans); unposted, cancelled, disputed and refunded transactions
Utility bill payments (including SP services); payments of funds to prepaid accounts and/or merchants who are categorised as “payment service providers” (including EZLINK, TransitLink, NETS FlashPay, SingTel Dash, Youtrip, GrabPay, MatchMove Pay and HelloPay); payments made via AXS or SAM
Payments to government institutions and/or payments for government related services (including ACRA, CPF, HDB SEASON PARKING, ICA, LTA, MOM, Town Council, URA and IRAS); payment of funds for money transfers and remittance services (including Swiss Money Transfer, TransferWise and WorldRemit); donations to charity

How does BOC Elite Miles Mastercard Compare to Other Cards?

Read our comparisons of BOC Elite Miles World Mastercard with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.

Graph showing some of Singapore’s best credit cards in terms of value-to-consumer after two years, based on an average monthly spend of S$2,000
BOC Elite Miles World Mastercard v. UOB PRVI Miles Card
  • Annual Fee: S$256.8
  • Stand-Out: Fee-Waiver + 20k bonus miles, 2.4 miles per $1 overseas
  • Read Our Full Review
UOB PRVI Miles Card is perhaps the best option on the market for higher spenders who want to rapidly accrue miles while also avoiding fees. Cardholders earn a competitive 1.4 miles/S$1 locally and 2.4 miles overseas, which are much higher than the prevailing market rates–though slightly lower than BOC Elite Miles Card's.


UOB PRVI Miles Amex may offer more value than BOC Elite Miles Card, however, for higher-spending consumers. Those with budgets of about S$4,167/month (S$50k/yr) receive 20k bonus miles annually and are exempt from paying the S$256.8 annual fee. These benefits have a nett value of about S$450+. However–like BOC Elite Miles Card–UOB PRVI Miles Amex offers very few perks. Cardholders receive free travel insurance and up to 8 limo transfers/year, which is far less comprehensive than what's offered by most other travel cards.

BOC Elite Miles World Mastercard v. Citi PremierMiles Card
If you're looking for a straightforward miles card with competitive rates and affordable perks, you may want to consider Citi PremierMiles Card. Cardholders earn 1.2 miles per S$1 locally and 2 miles overseas, which is lower than what BOC Elite Miles offers, but still aligns with market standards. While consumers won't accrue rewards as quickly, they will receive attractive travel perks like 2 free lounge visits/year and 10k bonus miles annually. As a result, Citi PremierMiles Card is a better option for travellers seeking a balance between rates and perks, while BOC Elite Miles Card is a better fit for those who prioritise rapid miles accrual.
BOC Elite Miles World Mastercard v. HSBC Revolution Card
  • Annual Fee: S$160.5
  • Stand-Out: 2 miles per S$1 local dining, entertainment & online
  • Read Our Full Review
HSBC Revolution Card is one of the very few options on the market that reward insurance premium payments. Cardholders earn 2 miles per S$1 spend on local dining & entertainment, as well as for online transactions–including both insurance & bill-pay. This rate is quite attractive–in fact, it's higher than the 1.5 miles/S$1 offered by BOC Elite Miles Card. Nonetheless, HSBC Revolution Card otherwise limits its rewards categories quite strictly. Overseas and general spend earn just 0.4 miles per S$1, which is almost negligible. It is worth pointing out that the card does have a lower fee at just S$160.5, which is waived for 2 years and subsequently with just S$12.5k annual spend. Overall, local spenders with focused budgets may prefer HSBC Revolution Card, while consumers who want to earn competitive miles on all of their spend may be better off with BOC Elite Miles Card.
BOC Elite Miles v. UOB PRVI Miles
  • Annual Fee: S$256.8
  • Stand-Out: Fee-Waiver + 20k bonus miles, 2.4 miles per $1 overseas
  • Read Our Full Review
UOB PRVI Miles Card is perhaps the best option on the market for higher spenders who want to rapidly accrue miles while also avoiding fees. Cardholders earn a competitive 1.4 miles/S$1 locally and 2.4 miles overseas, which are much higher than the prevailing market rates–though slightly lower than BOC Elite Miles Card's.


UOB PRVI Miles Amex may offer more value than BOC Elite Miles Card, however, for higher-spending consumers. Those with budgets of about S$4,167/month (S$50k/yr) receive 20k bonus miles annually and are exempt from paying the S$256.8 annual fee. These benefits have a nett value of about S$450+. However–like BOC Elite Miles Card–UOB PRVI Miles Amex offers very few perks. Cardholders receive free travel insurance and up to 8 limo transfers/year, which is far less comprehensive than what's offered by most other travel cards.

BOC Elite Miles v. Citi PremierMiles
If you're looking for a straightforward miles card with competitive rates and affordable perks, you may want to consider Citi PremierMiles Card. Cardholders earn 1.2 miles per S$1 locally and 2 miles overseas, which is lower than what BOC Elite Miles offers, but still aligns with market standards. While consumers won't accrue rewards as quickly, they will receive attractive travel perks like 2 free lounge visits/year and 10k bonus miles annually. As a result, Citi PremierMiles Card is a better option for travellers seeking a balance between rates and perks, while BOC Elite Miles Card is a better fit for those who prioritise rapid miles accrual.
BOC Elite Miles v. HSBC Revolution
  • Annual Fee: S$160.5
  • Stand-Out: 2 miles per S$1 local dining, entertainment & online
  • Read Our Full Review
HSBC Revolution Card is one of the very few options on the market that reward insurance premium payments. Cardholders earn 2 miles per S$1 spend on local dining & entertainment, as well as for online transactions–including both insurance & bill-pay. This rate is quite attractive–in fact, it's higher than the 1.5 miles/S$1 offered by BOC Elite Miles Card. Nonetheless, HSBC Revolution Card otherwise limits its rewards categories quite strictly. Overseas and general spend earn just 0.4 miles per S$1, which is almost negligible. It is worth pointing out that the card does have a lower fee at just S$160.5, which is waived for 2 years and subsequently with just S$12.5k annual spend. Overall, local spenders with focused budgets may prefer HSBC Revolution Card, while consumers who want to earn competitive miles on all of their spend may be better off with BOC Elite Miles Card.
Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, specialising in credit cards in Singapore. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research.

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