American Express has launched a new AMEX Offer for AMEX Singapore Airlines Credit Card members, which allows them to earn up to 5.3 mpd on all foreign currency transactions from now till 31 March 2022.
Registration is required, and can be done via the AMEX app or AMEX online banking portal. A maximum of 12,000 cards can be registered.
| ❓ What are AMEX Offers? |
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AMEX Offers are opportunities to earn bonus miles/points, or statement credits. These can be found in the “Offers” section of the AMEX app or web portal.
Registration is required, and some offers may be targeted. These are not applicable to DBS, Citi or UOB AMEX cardholders. |
Earn up to 5.3 mpd on foreign currency transactions
From 1 February to 31 March 2022, registered AMEX Singapore Airlines Credit Card members will earn an additional 4 mpd on foreign currency transactions (made in-person, in-app or online) as follows:
| Card | Base | Bonus | Total |
 AMEX KrisFlyer Credit Card |
1.1 mpd | 4 mpd | 5.1 mpd |
 AMEX KrisFlyer Ascend |
1.2 mpd | 4 mpd | 5.2 mpd |
 AMEX PPS Credit Card |
1.3 mpd | 4 mpd | 5.3 mpd |
 AMEX Solitaire PPS Credit Card |
1.3 mpd | 4 mpd | 5.3 mpd |
Do note that the bonus component is capped at S$200 of spending throughout the entire campaign period. In other words, the maximum bonus you can earn is 800 KrisFlyer miles.
Bonus miles will be credited within 5 business days from qualifying spend, but may take up to 90 days from the end of the offer date. In practice, they post very fast.
Terms & Conditions
The full T&Cs of this offer can be found below.
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How good is this offer?
American Express charges a 2.95% foreign currency transaction fee, so earning 5.1 to 5.3 mpd on foreign currency transactions is like paying 0.56 to 0.58 cents per mile.
In absolute terms, it’s clearly the best rate you’ll find, even beating the 4 mpd with the Citi Rewards/DBS Woman’s World Card paired to Amaze (although that has the added benefit of zero foreign currency transaction fees).
| 🌎 Best Cards for Foreign Currency Spending | ||
| Card | Earn Rate | Remarks |
 Amaze + Citi Rewards or DBS WWMCApply |
4.0 mpd | Max $1K (Citi Rewards) per s. month or S$2K (DBS WWMC) per c. month |
 UOB Visa SignatureApply |
4.0 mpd | Min S$1K Max S$2K per s. month on FCY spending |
| C. Month= Calendar Month, S. Month= Statement Month | ||
However, the main problem is how low the cap for the AMEX offer is- once you’ve spent S$200, the earn rate drops significantly!
Conclusion
AMEX Singapore Airlines Credit Card members can register to earn a bonus 4 mpd on foreign currency transactions from now till 31 March 2022, although it’s capped at just S$200 of spend.
If you’re already planning to travel overseas or buy something from an international website, it’s an easy way to pick up 800 bonus miles, but beyond that, better alternatives exist.
a little ironic that Amex customers tend to spend more and then Amex also puts a silly little $200 cap on its promo.
Is there a drought right now for sign up bonuses? Amex cards no longer have any 🙁
new offers launching on 4 feb, stay tuned
is this a targeted offer? It doesn’t appear on my app nor online. I just got a approved on end Jan though. Does it deny me for this offer?
It takes time before offers appear for new cards. Usually they start to appear about 1 month in.
in the meantime you can call up AMEX customer service and register.
PSA: I couldn’t reconcile some of the bonus miles awarded under this promo so contacted Amex to clarify.
They say the additional 4 MPD does NOT apply to the Amex 2.95% FX fee.
Say you spend FCY 100, where the FX rate is 1 FCY to 1.5 SGD. So you are charged SGD 100 x 1.5 x 1.0295 = SGD 154.42
You will receive 150 x 4 = 600 bonus miles (only, excluding the FX fee) not 154 x 4 = 616 bonus miles.