Miles vs Cashback

What Is Miles Per Dollar (mpd)? A Plain Guide

Miles per dollar (mpd) is the number that decides how fast you earn. Here's what it means, why local and foreign spend differ, and the catches to watch.

By The Miles vs Cashback Editors · Published 16 Jun 2026 · 2 min read

Every miles credit card leads with a number: "earn up to X miles per dollar." That figure — miles per dollar, or mpd — is the most quoted stat in the miles world. Here's what it actually means and how to read it without being misled. For the big picture, start with How Air Miles Work.

What mpd means

Miles per dollar is exactly what it sounds like: how many miles you earn for each dollar you spend. A card earning one mile per dollar gives you one mile for every dollar; a card earning two miles per dollar earns twice as fast on the same spending. Simple enough — the complications come from which spending earns which rate.

Why local and foreign spend earn differently

Almost every Singapore miles card has at least two rates: a base rate for everyday local spend, and a higher rate for foreign-currency spend, online spend, or specific categories like dining. Why the gap? Banks earn more on cross-border and category transactions, so they pass some of it back as bonus miles. That's why the headline "up to" number usually applies to only a slice of your spending, not all of it.

The catches that shrink your mpd

  • Minimum spend. Bonus rates often unlock only after you hit a monthly minimum.
  • Monthly caps. Many cards pay the bonus rate only up to a cap, then drop you to the base rate.
  • Excluded categories. Insurance, education, government payments and utilities are frequently excluded or earn nothing. Always check the exclusion list.

The real mpd you earn is usually lower than the headline once these kick in.

mpd isn't the whole story

A high earn rate is worthless if you redeem the miles badly — a card earning fewer miles you redeem brilliantly beats one earning more miles you waste (why redemption matters). And a high foreign mpd comes with a foreign transaction fee; net the extra miles against that cost rather than assuming foreign spend is a pure win.

How to use mpd when choosing a card

  • Match the card's bonus categories to where you actually spend — a great dining rate is useless if you rarely dine out.
  • Check the minimum spend and the cap so you know the rate you'll realistically earn.
  • Weigh it against any annual fee, and against how well you'll redeem.

The takeaway

mpd tells you how fast you earn, not how much your miles are worth. Read past the "up to" headline to the base rate, the caps, and the exclusions — and remember that earning rate only matters if you redeem well and don't hand it back in fees.

Frequently asked questions

What does mpd mean?
mpd stands for miles per dollar: the number of miles you earn for each dollar you spend. A higher mpd means you accumulate miles faster on that type of spending.
Why do I earn more miles overseas?
Many cards pay a higher miles-per-dollar rate on foreign-currency and online spend than on local spend, because banks earn more on those transactions. Remember a foreign transaction fee usually applies too.
What is a bonus cap?
A monthly limit on how much spend earns the higher bonus rate. Once you pass the cap, additional spend typically earns only the lower base rate, so your effective mpd falls.
Is a higher mpd always better?
No. Earning rate is only half the equation — miles are worth what you redeem them for. A lower mpd redeemed well can beat a higher mpd you waste, and caps or fees can erode a high headline rate.
Do all purchases earn mpd?
Often not. Categories like insurance, education, government payments and utilities are frequently excluded or earn nothing. Check your card's exclusion list before assuming everything earns.

Sources

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