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Thursday, 12 June 2025

Rewards Updates : Chocolate Visa Card nerf: What now?


Source : 



Apple Intelligence : 


Earn Rate Reduction: Earn rate for the first S$1,000 spent will be reduced from 2 mpd to 1 mpd.


Bill Payment Cap: Maximum miles earnable from bill payments will be capped at 100 miles per month.


Effective Date: Changes will take effect on 1 July 2025.


Miles Multiplier Tiers: 0% for MAB below S$5K, increasing by 5% for every S$5K increment up to S$100K.


Miles Multiplier Cap: Capped at 100% for MAB of S$100K and above.


Miles Multiplier Calculation: Bonus miles are calculated as a percentage of the total miles earned, based on the MAB tier.


Miles Multiplier Effectiveness: Not lucrative enough to incentivize deposits, offering only S$1 to S$20 in rewards.


Deposit Decision Factor: Primarily based on the attractiveness of base returns rather than the Miles Multiplier.


Chocolate Finance Returns: Guaranteed returns of 3% p.a. (SGD) and 4.3% p.a. (USD) on the first S$20K/US$20K, followed by 2.7% p.a. (SGD) and 4% p.a. (USD) on the next S$30K/US$30K, with non-guaranteed rates for amounts above S$50K/US$50K.


Card Security: Freeze the Chocolate Visa Card when not in use to prevent unauthorized transactions.


Miles Earning Limitation: Government services, healthcare, insurance, and utilities are capped at 100 miles per month.


Miles Earning on Specific Categories: Charitable donations and education are still eligible for miles earning.

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