Looks like there has been a domino effect with the various credit cards slashing their earn rates. The latest is UOB PRVI Miles AMEX & MasterCard. It used to be the best with 1.6 miles per $1 spent locally and 2.5 miles per $1 earned on overseas transactions. Now, it will be reduced to 1.4 miles per $1 for local spend which will tie with ANZ Travel Visa Signature. However, for foreign transaction, 2.4 miles per $1 is still the best except for Aust and NZ, where ANZ Travel Visa Signature still reign with 2.8 miles per $1.