|Highlights||Credit Card Feature|
|Things We Like||24,000 bonus points ($110 cash credit) when you spend $1,500 within first three months of Card Membership|
|Our Least Favourite||Points cannot be redeemed for cash|
|Our Verdict||Earn an unlimited 1 point per $1 on all spending|
If you want a cost-effective credit card that lets you earn good rewards and packs a nice punch where benefits are concerned, The American Express® Rewards Card would seem to have it all. But with heavy competition in the rewards race, I couldn't help wondering if this card can really hold its own. For the sake of comparison, Citi Rewards Card now has an offer that lets you earn up to 10 points per $1 spent on certain purchases. So how does this rewards card from AmEx fare? Let's take a look at the details to find out if you just might be the kind of person who could benefit the most from using The American Express® Rewards Card!
|Credit Card||Features||Intro Interest p.a.||Standard Interest p.a.||Annual Fee||Minimum Income||We least like||Related links|
The American Express® Rewards Card
|24.99% p.a.||S$53.50 (inclusive of GST)||S$30,000 p.a. (S$60,000 p.a. for expatriates)||Related Links Read our review of The American Express® Rewards Card or view more details of The American Express® Rewards Card. See more American Express credit cards.|
Things We Like About The American Express® Rewards Card
Bonus offer. You can earn 24,000 bonus Membership Rewards points if you spend $1,500 in the first 3 months after being accepted for this card.
Intro offer. This card now has a special offer that lets you choose 5 merchants (restaurants, hotels, shops, etc.) where you would like to earn extra points. You will earn 1.5 points per $1 in purchases for the first $5000 that you spend at these merchants.
Low card fee. This card has a low $53.50 annual fee. That is almost a quarter of what you pay for Citi Rewards Card, which means more savings.
Unlimited rewards points. With this card, you earn 1 point for every $1 that you spend on anything. Citi Rewards Card also gives you 1 point for each dollar you spend, and those are also unlimited. Citi does limit the 10X points that you earn to 120,000 points per year, capped at 10,000 Points per statement month.
Points do not expire. This is what makes this card stand a head taller than its competition. You can earn as many points as you want, and save them up until you choose to redeem them. No need to stress about your points expiring! The points you earn with Citi Rewards Card, by comparison, are only valid for 5 years.
Convert points to miles. The American Express® Rewards Card lets you convert your points to frequent flyer miles with over 40 airlines. You can also redeem points for a whole range of rewards including shopping and dining vouchers, electronics and home appliances. All things considered, this card comes with a pretty flexible rewards programme.
Shopping benefits. What this card lacks in the way of really high rewards it makes up for in the way of really solid shopping benefits. Citi Rewards Card doesn't give you anywhere near these kinds of perks.
- A 90-Day Return Guarantee lets you shop with peace of mind knowing that if the store won't let you return something, American Express guarantees you a refund as long as you return it within 90 days.
- You get 90 days of purchase protection for the things you buy, which means if anything is accidentally damaged or stolen within 90 days after you buy it, you can claim a refund from AmEx.
- Shop online worry-free thanks to the Online Fraud Protection Guarantee that limits your liability for any fraudulent transactions resulting from your credit card information being stolen when you shop online.
- Limited Liability for lost or stolen cards means that if you lose your The American Express® Rewards Card or if it gets stolen, you will only have to pay a maximum of $100 towards any fraudulent transactions. This beats losing your wallet that's full of cash.
Dining privileges. Like other cards from American Express, this card comes with a nice selection of special offers and discounts at some of the best restaurants in Singapore (through American Express Selects) and internationally (through the American Express Global Dining Programme). Citibank has its Gourmet Pleasures dining programme which lets you get a lot of local deals, but doesn't offer much outside of Singapore.
Movie discounts. If you enjoy movies, this could be a good choice. When you visit Cathay Cineplexes, you can get tickets for $8 (weekdays) or $10.50 (weekends). You also get priority queue, and if you buy 2 tickets, you will get a free medium popcorn. All that just for paying with The American Express® Rewards Card!
2 free supplementary cards. The card fees for the first 2 supplementary cards are permanently waived, so your spouse or other family members can enjoy the benefits of this card for free. If you need more than 2 extra cards, you can get them for a fee of just $16.05 annually, including GST.
Easy income requirements. Like Citi Rewards Card, you only need to have an income of $30,000 per annum to apply for this card. That puts it within reach for most Singaporeans.
Our Least Favourite Things About The American Express® Rewards Card
Points cannot be redeemed for cash. The Membership Rewards programme lets you redeem points for a long list of money-saving vouchers, merchandise and even airline frequent flyer miles. Sadly, you don't get an option to redeem for cash, so if you prefer flexible cash rewards, you should go for a cashback card like The American Express® True Cashback Card.
The American Express® Rewards Card finds a sort of midway point between all those stingy rewards cards that give you 1 point per $5 spending and the jackpots that give you 10 points for each dollar you spend. The special offer of 1.5 points for the first $5000 you spend at 5 merchants of your choice is a nice boost, but still doesn't quite match the 10X points offer that comes with Citi Rewards Card these days.
Still, you earn an unlimited 1 point per $1 on all spending, so if you spend $3000 monthly with this card, you can earn 36,000 points every year. Then there are the fantastic shopping-related benefits like the return guarantee and purchase protection that go way beyond what most other rewards cards offer.
If you want the savings that come with unlimited rewards and the top customer service and global privileges offered by American Express, then The American Express® Rewards Card should strike the right chord.