As your next vacation approaches, you might be considering the best way to earn rewards from your spend overseas. While many people associate travel with miles-earning credit cards, there are actually quite a few cashback options worth looking into. In fact, depending on your travel style and preferences, you may ultimately be able to earn more rewards with a rebate card.

First, however, it's worth putting cashback earnings and miles rewards into a standardised context. Based on redemption rates, the average value of 1 mile reward is about 1 cent. Each 1% of cashback rewarded is also equal to 1 cent. Therefore, 1 mile earned is equivalent to about about 1% cashback. This is the framework we'll use for comparison.

According to recent research, 87% of Singaporean millennials claim food is the biggest driver in determining their travel destination, and 27% use apps like