Here’s Why You Should Start Considering An American Express (AMEX) Credit Card
One of the biggest selling points that American Express cards have to offer would be their long list of rewards and benefits. Although American Express may not be as widely present as its counterparts, Visa and Mastercard, in Singapore, you would be pleased to find out that most large retailers do accept AMEX cards. AMEX has also partnered with banks like DBS and UOB for seamless access. To find out which retailers accept AMEX cards, you can also use this map finder provided by AMEX.
With their wide array of impressive rewards, owning an AMEX card is often the best way to go if you want to unlock a world of benefits and luxury. Some of the popular perks which many AMEX cards offer include statement credits, airport lounge access, and elite status at hotels.
Some of the our favourite AMEX benefits are the following:
1) Travel Perks – 4 free lounge visits and 1 free hotel night per year, plus free travel insurance of up to S$350,000. Exclusive hotel, flight and car rental upgrades (Hilton Honors Silver, KrisFlyer Elite Gold, and Hertz Gold Plus).
2) Dining Benefits – Access to up to 50% off dining at select restaurants and hotel buffets through the Love Dining programme. Enjoy complimentary drinks at upscale bars through AMEX Chillax.
The benefits differ across the various AMEX cards offered, but the best rewards can be enjoyed with the American Express Platinum Credit Card.
- Pros
- Exclusive local privileges
- Great local dining discounts and rewards on designer brands
- Cons
- Lacks luxury travel perks
- Limited miles accrual
The American Express Platinum Credit Card is considerably one of the best cashback credit cards for affluents in Singapore, offering a wide myriad of exclusive and luxury perks and benefits. With this credit card, you would get to enjoy exclusive privileges at restaurants and designer brands. This elite local dining and shopping card for Singapore’s most affluent customers stands out for the perks it offers, such as discounts, waived fees and other privileges at bars, restaurants, spas and more.
Other exclusive benefits that this card offers to its exclusive customers include complimentary access to premier private business clubs and complimentary upgrades to hotel loyalty programmes.
Receive 65,000 points upon Annual Fee payment and up to 100,000 points with a minimum spending of S$20,000 in the first 6 months - enough to redeem for 10.9-inch iPad Air Wi-Fi 64GB with AppleCare+ worth S$998, valid until 30 September 2022.
Other American Express cards offered in Singapore are also great for cashback and rewards.
1. American Express Singapore Airlines Krisflyer Card
- Pros
- Easy-to-use miles card
- No conversions & transfer fees
- Great rewards with Singapore Airlines
- Cons
- Not easy to maximise miles
- Lacks airline/travel rewards aside from SIA
The American Express Singapore Airlines Krisflyer Card is a card worth considering especially for Singapore Airline loyalists. It is easy to use and has no transfer fees or conversion, offering great rewards.
The AMEX SIA Krisflyer card is indeed one of the best credit cards in Singapore for those who want to maximise their miles earned. This card allows cardholders to earn KrisFlyer miles directly, rather than earning points which would still need to be converted – a lengthy process involving extra transfer fees. It is indeed a great option if you are looking for hassle-free miles credit cards and offers impressive rewards too, making it one of the best miles credit cards in Singapore.
Furthermore, their current promotion allows new applicants to receive 1x ErgoTune Classic (worth S$399) or 1x Apple AirPods Pro (worth S$379) or S$250 cash, which is an excellent deal for promotion-seekers. Receive up to 22,200 KrisFlyer miles when you spend S$2,000 within the first 3 months of Card approval. Valid until 30 September 2022.
2. American Express True Cashback Card
- Pros
- Great Amex perks
- Straightforward, easy-to-use card
- Cons
- Not suitable for lower budgets
- Rewards general spend only
The American Express True Cashback Card allows you to truly take advantage of AMEX’s rewards and maximise your cashback dollars, with unlimited 1.5% flat cashback and a plethora of other AMEX Benefits. This cashback credit card is especially suitable for those who spend more on general expenditure. The AMEX True Cashback Card allows high spends to earn unlimited rewards on all your purchases, with the cashback rebate boosted to an impressive 3% in the first 6 months.
On top of the impressive cashbacks this credit card offers, the AMEX True Cashback Card also offers other benefits like Global Assist, American Express Selects, and True Cashback promotions, giving you access to discounts and promotions for travel and weddings and more.
Receive S$80 CapitaVouchers when you spend a minimum of S$250 in the first month. For new to American Express Card Members only, valid until 30 September 2022.
Guide To Activating Your AMEX Benefits
However, it is important to note that many of these perks are not automatically enrolled for cardholders, and you would have to manually enrol if you want to enjoy these benefits. To ensure that you are not missing out on them, don’t forget to activate your benefits now! Luckily for us, it is a very simple process. Here’s how.
Log in to your account online or via the AMEX mobile application
Select the credit card for which you want to activate benefits
Navigate to “Rewards” on the menu and click on the “Benefits” tab. You will be able to view a list of the benefits which you are eligible for.
If you are using the AMEX mobile application, simply navigate to the “Membership” tab, then click on “Explore All Benefits” to view the list of benefits.
Click on “Enrol Now” for the benefits which you would like to apply for.
With there being such a wide variety of perks and benefits available for many of the AMEX cards, the enrollment frequency of various benefits also differ. Some benefits, such as elite status for hotels, only need to be enrolled in once, and will continue allowing you to stay enrolled till the expiry of the card. However, AMEX Offers are retailer and partner deals, such as restaurants and shops, which give you discounts or statement credits. With the regular change-ups of offers and promotions, you would need to browse through them weekly to get the latest scoops and discounts!
AMEX VS Visa VS Mastercard – What’s The Difference?
If you are enticed by the wonderful rewards that AMEX has to offer, and wondering whether you should apply for an AMEX card today, but are not sure of what the differences are between American Express, Visa and Mastercard, we have compiled some of the key factors in terms of eligibility and rewards of the cashback credit cards for you to take into consideration!
| American Express True Cashback Card | Visa UOB One Credit Card | Mastercard POSB Everyday Credit Card | |
|---|---|---|---|
| Annual Fees | S$171.20 (inclusive of GST) waived for the first year | S$192.60, Waived for 1 year | S$192.60, Waived for 1 year |
| Cashback | Get 1.5% cashback on all eligible spend, with no min. spend required and no cap | 5% rebate on general spend, up to S$200/quarter (S$2,000 min spend) with min 5 transactions/mo | 10% on online food delivery, 5% on grocery purchases and online shopping, plus up to 21.8% in fuel savings |
| Income Requirement | S$30,000 for citizens & PRs, S$45,000 for foreigners | S$30,000 for citizens & PRs, S$40,000 for foreigners | S$30,000 for citizens & PRs, S$45,000 for foreigners |
We have compiled some of the general points and differences between AMEX, Visa and Mastercard for you to understand what the differences are between these 3 largest credit card companies.
| American Express | Visa | Mastercard | |
|---|---|---|---|
| What Is It? | Payment Card Service | Payment Processing Network | Payment Processing Network |
| Issues Cards? | Yes | No | No |
| Number Of Merchants Globally | 20+ million | 50+ million | 50+ million |
| Territories Supported | 160+ countries | 200+ countries | 200+ countries |
| Overseas Card Usage Charge | Flat fee of 2.5% | Differs by bank | Differs by bank |
| Some Big Partners in Singapore | DBS, UOB, Singapore Airlines, Capitaland | DBS, OCBC, HSBC, Standard Chartered, HSBC, Maybank | DBS, OCBC, UOB, Standard Chartered, Citibank, CIMB |
Conclusion
Want to maximise your rewards and cashback for a world full of benefits? Check out credit cards in Singapore, where our analysts help you to simplify the decisions behind choosing the best credit card for yourself. Whether you are a frequent shopper looking out for deals on food and shopping for your family, or an avid traveller and frequent flyer trying to earn more miles, our page has all the information and resources you need.
If you are dazzled by the diverse array of credit cards and all their attractive sign-up features and promotions, do feel free to check out our credit card promotions page, which is always updated so that you can find the best offer and value. They are carefully reviewed by our analysts as well, and provide insights on all the latest credit cards and promotions currently available in the market.
American Express and their credit cards unlock a world of possibilities for you. For the globetrotters, the American Express Singapore Airlines Krisflyer Card and American Express Singapore Airlines KrisFlyer Ascend Credit Card are good choices especially for those looking to earn SIA miles. For the high spenders, the American Express True Cashback Card is truly one of the best cashback credit cards in Singapore for you to get rewarded for every dollar you spend. Affluents can also enjoy luxury and highly exclusive perks in travel and dining with the American Express Platinum Credit Card.
With their plethora of benefits and perks for every kind of customer, AMEX credit cards are definitely worth considering, especially for those desiring high cashback and rewards.
Fiona is a full-stack marketer working in the digital sphere for more than six years.
A self-proclaimed foodie and bargain hunter, she wants to bring the best deals and value to the community around the world. When not working on her pet projects, Fiona can be found sipping a coffee while reading a paperbacks or watching mystery thrillers on Netflix and Disney+.