American Express has launched a new sign-up offer for the AMEX Platinum Credit Card, which runs from now till 31 March 2022.
New cardholders will receive a S$100 statement credit upon approval and payment of the first year’s S$321 annual fee, as well as 12,000 MR points and a 2-night Conrad Centennial staycation when they spend S$5,000 in the first 3 months of approval.
However, an alternative (and better, in my opinion) offer exists for MileLion readers, who will get an annual fee waiver when they open a POEMS trading account, plus a 2-night Conrad Centennial staycation when they spend S$5,000 in the first 3 months of approval.
The AMEX Platinum Credit Card is the cheapest way to enjoy Love Dining and Chillax perks, which give cardholders up to 50% off food and 1-for-1 drinks at numerous restaurants, hotels and bars around Singapore.
Offer 1: 12,000 bonus MR points
Customers who apply and get approval for an AMEX Platinum Card by 31 March 2022 will receive the following:
|Offer #1: 12,000 bonus MR points|
|Pay Annual Fee||N/A||S$100|
|Milelion Bonus||S$2K||12K pts|
|Months 1-3||S$5K||2N Conrad stay|
|Base Points||6.25K pts|
(S$5K @ 2 pts per S$1.60)
|Total Rewards||18.25K pts + S$100 + 2N Conrad stay|
All cardholders will receive a S$100 statement credit when they pay the (mandatory) first year’s annual fee of S$321, effectively reducing the cost to S$221. This will be awarded approximately eight weeks after card approval and payment of annual fees.
Those who apply via The Milelion’s link will also earn 12,000 MR points when they spend S$2,000 in the first 3 months of approval.
Should they spend a further S$3,000 (i.e. S$5,000 total), they’ll receive a two-night stay at the Conrad Centennial Singapore (Deluxe Room). A redemption letter will be sent within 12 weeks of meeting the spend threshold.
|Conrad Centennial Staycation Review|
This means your total haul (including the base points) would be 18,250 MR points, a S$100 statement credit and a 2-night Conrad staycation for S$5,000 of spending and the payment of a S$321 annual fee.
This offer is open to both new and existing AMEX cardholders, so long as they have not cancelled an AMEX Platinum Credit Card in the past 6 months.
The full T&C of this offer can be found here.
Offer 2: Annual fee waiver
|Offer #2: Annual Fee Waiver|
|Note: If you apply via this channel you will not be eligible for the MGM gift of 12,000 MR points with S$2K spend in the first 3 months|
MileLion readers have an alternative offer, which could be better depending on your circumstances.
Customers who sign up for a free POEMS account will be eligible to apply for an AMEX Platinum Credit Card and receive a waiver of the first year’s S$321 annual fee.
- Open a free POEMS account via this link
- Fill up the the online interest form via this link
- You’ll receive a unique application link via email within 3-5 working days. Apply for the AMEX Platinum Credit Card via this link within 7 calendar days to enjoy the fee waiver
There is no minimum funding or trading requirement for your POEMS account. However, customers who meet the minimum initial deposits shown below will be eligible for unlimited commission free US trades for 1 month, as well as POEMS Rewards Points that can be redeemed for gifts like Shopee vouchers.
|Account Type||Initial Deposit|
(within 7 days of account opening)
|Cash Plus Account||≥S$3,000||2,000 POEMS Rewards Points + Unlimited commission free US trades for 1 month|
|Cash Management Account||≥S$3,000||2,000 POEMS Rewards Points|
|For reference, 2,000 POEMS Rewards Points are worth S$40 in Shopee Vouchers|
For avoidance of doubt, the annual fee waiver offer only applies to those who do not currently hold an AMEX Platinum Credit Card; existing cardholders will not be eligible.
The fee waiver offer is available to the first 200 approved cardholders or until 30 September 2022, whichever comes first. Now, I know everyone dislikes “first X” style campaigns, but I’ve managed to secure the following concessions:
- AMEX will be tracking the number of approved applications, and once the cap is hit, I’ll update the article accordingly
- If you’ve successfully registered your interest and fall outside the first 200 approvals, AMEX & Phillip Securities will still honor the first year fee waiver offer
In other words, so long as you’ve opened a POEMS account and sent in the interest form, you’ll be eligible for the fee waiver offer.
Cardholders who spend S$5,000 in the first 3 months of approval will receive a two-night stay at the Conrad Centennial Singapore (Deluxe Room). A redemption letter will be sent within 12 weeks of meeting the spend threshold.
|Note: The POEMS landing page still reflects the previous Fullerton Hotel offer. Give it a day or so to be updated to the new offer.|
This means your total haul would be 6,250 MR points, an annual fee waiver and a 2-night Conrad staycation for S$5,000 of spending.
Which offer is better?
This boils down to whether 12,000 MR points are worth paying an effective annual fee of S$221 (S$321 minus the S$100 statement credit).12,000 MR points are approximately 6,667 airline miles (450 MR points= 250 miles), and taking a 1.8 cents per mile value, that’s ~S$120.
Since the 2-night Conrad staycation is available under both offers, I’d suggest you go with the AMEX x POEMS one.
AMEX Love Dining & Chillax
The Love Dining programme is one of the biggest draws of the AMEX Platinum cards, allowing members to save up to 50% on food at more than 30 restaurants and hotels across Singapore.
|Number of Diners||Discount on Food Bill|
|Card member + 1 guest||50%|
|Card member + 2 guests||35%^|
|Card member + 3 guests||25%|
|Card member + 4-9 guests||20%|
|^10% and 33% respectively at Fairmont Singapore, Swissotel The Stamford, Swissotel Merchant Court|
The full list of participating restaurants can be found below:
Each diner must order at least one qualifying food item (usually a main course) to enjoy the discount. Blackout dates apply (namely public holidays and eve of public holidays, plus special occasions like Valentine’s Day), and the full T&C can be found here.
What I particularly like about Love Dining is that it’s not 1-for-1, it’s 50% off. With 1-for-1, you only get the cheaper item free, and everything else you buy is at the regular price.
With 50% off, you save on everything (except drinks)- appetizers, mains, desserts. No more feeling compelled to order a more expensive item because your partner did, and at more upscale restaurants, the savings can easily add up to S$100+ per visit.
AMEX Platinum card members also enjoy 1-for-1 drinks and special offers with Chillax. Here’s the full list of participating outlets for 2022.
|Offer #1: 12,000 MR points||Offer #2: Annual Fee Waiver|
|Apply Here||Apply Here|
American Express is now offering new AMEX Platinum Credit Card cardholders a 2-night Conrad Centennial Singapore staycation when they spend S$5,000 in the first 3 months of approval.
While you can get 12,000 MR points and a S$100 statement credit by paying the S$321 annual fee, I think it’s much better to avoid the fee altogether via the POEMS offer (be sure to use the correct link when applying!).
Either way, you’ll get to enjoy Love Dining and Chillax perks, which can save you a whole chunk of money on a nice night out.