|Update: This offer has now expired. To find a copy of the original T&Cs, refer to this link.|
Today (31 August 2021) is the final day of American Express’ very generous sign-up offer for the AMEX True Cashback Card which is open to both new and existing AMEX customers.
Successful applicants will receive S$120-180 CapitaVouchers when they make their first spend of at least S$1 within the first month of approval, simple as that.
AMEX True Cashback Offer
|Income Req.||Annual Fee||Cashback Rate|
|S$30,000||S$171.20 (first year free)||1.5%*|
|*3% for the first 6 months, capped at S$5,000|
Customers who apply for an AMEX True Cashback Card via The Milelion from 27-31 August 2021 (with approval by 14 September 2021) will receive the following:
- New AMEX customers: S$160 CapitaVouchers
- Existing AMEX customers: S$100 CapitaVouchers
All they need to do is make one transaction of at least S$1 in the first month of approval:
|💳 Definition: New AMEX Customer|
|Those who do not hold an existing personal American Express card, and have not cancelled any American Express card in the last 12 months. Corporate cards and AMEX cards issued by DBS, Citibank and UOB do not count.|
On top of this, both new and existing customers will receive S$20 CapitaVouchers when they use SingPass MyInfo in their application process.
|New Customer||Existing Customer|
|First Spend||S$160 voucher||S$100 voucher|
|Apply via MyInfo||S$20 voucher||S$20 voucher|
|Total||S$180 voucher||S$120 voucher|
AMEX True Cashback Card members will also earn a welcome bonus of 3% cashback on up to S$5,000 spent in the first 6 months of membership, double the usual 1.5%.
CapitaVouchers will be sent within 12 weeks after the qualifying criteria has been met. The vouchers for MyInfo applications will come in a separate batch from the first spend vouchers- don’t panic if only S$20 shows up initially.
The AMEX True Cashback Card’s first year annual fee of S$171.20 is waived. Cardholders who cancel their card within six months of approval will be charged the value of the gift.
Terms and Conditions
The T&C of this offer can be found here.
Why do you need an AMEX True Cashback Card?
Why would any miles collector need a cashback card?
It’s quite simple: rewards category exclusions. Unfortunately, banks have tightened their T&Cs over the past couple of years, and now it’s virtually impossible to earn rewards points for the following transactions:
American Express still offers rewards for charitable donations, education and government transactions, and the AMEX True Cashback Card in particular still offers cashback for insurance and utilities.
Even if AMEX isn’t accepted by the merchant, you could always use the AMEX True Cashback Card is to top up your GrabPay Card and then make payment.
For example, you could top up your GrabPay balance with the AMEX True Cashback Card and use the GrabPay Mastercard to pay your insurance bill, effectively shaving 1.5% off the premium. Likewise, you could use the GrabPay Mastercard to pay a government agency or educational institution via AXS, saving 1.5% in the process.
There are almost no rewards exclusions for the AMEX True Cashback Card, which makes it a very useful “catch-all” solution when other cards don’t earn points/cashback.
The lack of a minimum spend requirement and the fact this offer is open to existing customers make it a slam dunk in my opinion. It doesn’t hurt that the AMEX True Cashback Card has plenty of use cases, even for a miles collector.
Remember to submit your application by 31 August 2021 to be eligible.