Trust Bank has launched a new travel rewards option for its rebranded Trust Freedom Card, allowing cardholders to earn 1.3 miles per S$1 on local and foreign spending with zero foreign exchange fees.
The updated card structure addresses a common pain point for travelers who frequently lose ground on overseas purchases due to standard currency conversion fees. Traditional credit cards often levy foreign transaction fees around 3.25 percent, meaning cardholders must weigh the extra cost against the miles earned. By waiving these transaction fees while offering a 1.3 miles-per-dollar earn rate on foreign currency spending, the Trust Freedom Card provides a distinct alternative for consumers navigating overseas transactions, as noted by Suitesmile.
Cardholders can select their preferred reward mechanism quarterly through the Trust mobile application. The product features four distinct earning tracks:
- Miles: Earns 1.3 Trust Miles per S$1 on local and foreign spend, with earnings calculated in S$5 blocks.
- Unlimited Cashback: Delivers an uncapped 1.5 percent cashback locally and 0.5 percent on foreign currency spending.
- Bonus Cashback: Offers up to 15 percent cashback on a chosen category, paired with 1 percent local cashback.
- Stockback: Grants 3 percent Stockback on a designated stock or exchange-traded fund through December 31, 2026, before shifting to lower local rates.
Users who select the miles structure can transfer their accrued Trust Miles to multiple airline and hotel loyalty programs. According to Suitesmile, the conversion ratio sits at 1 Trust Mile for 1 KrisFlyer mile or 1 Max Mile, subject to a S$27.25 conversion fee inclusive of Goods and Services Tax. Transferred miles to KrisFlyer or HeyMax credit instantly, with a minimum transfer requirement of 1 mile.
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