American Express has given the AMEX Platinum Credit Card another refresh, four years after it unveiled a new card face in 2020.
The refresh is more than just cosmetic, however, as cardholders will now enjoy an annual S$200 Lifestyle Credit for spending at participating restaurants and retail merchants.
Together with a welcome offer of up to S$250 eCapitaVouchers and up to S$390 in Comoclub birthday vouchers, a new cardholder could enjoy up to S$940 of value in their first membership year- a tidy return on the S$327 annual fee, if you ask me.
S$200 annual Lifestyle Credit
AMEX Platinum Credit Cardholders now enjoy an annual S$200 Lifestyle Credit, which is disbursed as a twice-annual S$100 credit:
- 1 January to 30 June: S$100
- 1 July to 31 December: S$100
The credit can be used with a minimum spend of S$100 in a single transaction at any participating merchant. For example, a single transaction of S$120 would trigger the credit, but two separate transactions of S$60 would not.
Annual registration and enrolment is required, and can be done here or on the AMEX Experiences app (I’m surprised it’s not available on the AMEX Offers platform, where these things usually are).
The Lifestyle Credit is only available for the principal cardholder. Supplementary cardholders are not eligible for a separate credit, and spending on supplementary cards will not trigger the credit on the principal card.
Participating merchants
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| Participating Merchants |
Lifestyle Credits can be spent at any of the following dining and retail outlets.
Dining
| Hotels | Restaurants |
|
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Retail
- Benjamin Barker
- Calvin Klein
- Chloe
- Christian Dior
- Decathlon
- Gucci
- Hugo Boss
- Love Bonito
- Lululemon
- Marks and Spencer
- Massimo Dutti
- Michael Kors
- Mont Blanc
- Muji
- Ralph Lauren
- Saint Laurent
- Uniqlo
Merchants may be added and removed from time to time, and not all outlets may be participating. Refer to this document for the full details.
Welcome offer: up to S$250 eCapitaVouchers
| AMEX Platinum Credit Card |
||
| Apply Here | ||
| New Customers | Existing Customers | |
| Spend S$1,000 (All applicants) |
S$200 voucher | S$100 voucher |
| Additional gift for first 2,000 applicants (Cap is by category) |
+S$50 voucher | +S$50 voucher |
New and existing AMEX customers who receive approval by 28 February 2024 can enjoy a welcome gift of up to S$250 and S$150 eCapitaVouchers respectively.
New AMEX customers
| ❓ Definition |
|
New customers are defined as those who:
For avoidance of doubt, there is no “timeout period” for a customer with a recently-cancelled card to be considered new (provided that card is not an AMEX Platinum Credit Card). All approvals are subject to internal review. |
New customers who apply for an AMEX Platinum Credit Card are eligible for S$200 eCapitaVouchers when they:
- Pay the S$327 annual fee
- Spend at least S$1,000 in the first month of card approval (defined as the first 30 calendar days)
Should they be among the first 2,000 applicants, they will receive an extra S$50 for a total of S$250 eCapitaVouchers.
Existing AMEX customers
| ❓ Definition |
|
Existing customers are defined as those who:
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Existing customers who apply for an AMEX Platinum Credit Card are eligible for S$100 eCapitaVouchers when they:
- Pay the S$327 annual fee
- Spend at least S$1,000 in the first month of card approval (defined as the first 30 calendar days)
Should they be among the first 2,000 applicants, they will receive an extra S$50 for a total of S$150 eCapitaVouchers.
Terms & Conditions
The T&Cs of this offer can be found here.
Maximising first year value
Just like the AMEX Platinum Charge, the AMEX Platinum Credit Card has a first year sweet spot of its own, which allows the cardholder to get up to S$940 of value in the first membership year.
Here’s how it works.
Suppose John gets approved for an AMEX Platinum Credit Card in February 2024, and is among the first 2,000 new-to-AMEX customers to do so. He also applies for two supplementary cards, both of which enjoy perpetual annual fee waivers.
Each AMEX Platinum Credit Card is eligible for a complimentary 12-month Comoclub C4 membership, so in total he can look forward to:
- S$250 eCapitaVouchers when he spends S$1,000 in the first 30 days of approval
- 3x S$130 Comoclub C4 birthday vouchers, split into
- S$100 shopping spree at Club21, Kids21 or DSM Singapore
- S$20 dining voucher for Como restaurants
- S$10 voucher for SuperNature and glow café
- S$100 Lifestyle Credit to spend by 30 June 2024 (issued immediately)
- S$100 Lifestyle Credit to spend by 31 December 2024 (issued on 1 July 2024)
- S$100 Lifestyle Credit to spend by 31 January 2025 (issued on 1 January 2025)
| ❓ Why 31 January 2025? |
|
Why must the final S$100 Lifestyle Credit be spent by 31 January 2025? In my example, I’m assuming he doesn’t renew his card for a second year, so he’ll need to use his Lifestyle Credit by the month prior to renewal, which in this case is January 2025 (using your credits in the month of renewal can be risky, as explained here). |
Of course, the math changes depending on whether you’re a new or existing AMEX cardholder, and whether you’re within the first 2,000 applicants. But even in a low-end scenario, you’ll receive S$790 in value (S$100 eCapitaVouchers + S$300 Lifestyle Credits + S$390 Comoclub vouchers).
No more One Annual Fee
AMEX Platinum Charge cardholders- I know what you’re thinking. Unfortunately, American Express ended its “One Annual Fee” policy in November 2022, which means you won’t be able to apply for an AMEX Platinum Credit Card and get a perpetual fee waiver.
Besides, the T&Cs state that you must pay the annual fee to enjoy the S$200 Lifestyle Credit, so even if you did enjoy the fee waiver the card wouldn’t be of much use to you.
Overview: AMEX Platinum Credit Card
| AMEX Platinum Credit Card |
|||
| Apply Here | |||
| Income Req. | Not stated | Points Validity | No expiry |
| Annual Fee | S$327 |
Min. Transfer |
450 MR points (250 miles) |
| FCY Fee | 3.25% | Transfer Fee | None |
| Local Earn | 0.69 mpd | Points Pool? | Yes |
| FCY Earn | 0.69 mpd | Lounge Access? | No |
| Special Earn | 3.47 mpd on 10Xcelerator merchants | Airport Limo? | No |
| Cardholder Terms and Conditions | |||
The AMEX Platinum Credit Card has a S$327 annual fee, which must be paid in the first year. Fee waivers in subsequent years are possible, but will come at the expense of the S$200 Lifestyle Credit.
Cardholders earn 2 MR points per S$1.60 spent (0.69 mpd) in Singapore or overseas, with an upsized 10 MR points per S$1.60 spent (3.47 mpd) at 10Xcelerator merchants.
Other benefits include:
- Up to 50% off dining at selected hotels and restaurants with the Love Dining programme
- 1-for-1 drinks with Chillax
- Complimentary green fees at more than 40 golf clubs in Singapore, Cambodia, Philippines, Malaysia, Indonesia, Thailand and Vietnam
- 12-month Comoclub C4 membership
Frankly speaking, this isn’t a card you get for spending. Like the AMEX Platinum Charge, this is all about the benefits that come with the annual fee, so be sure you can fully utilise the perks before pulling the trigger.
American Express no longer publishes minimum income requirements for any of its cards, and all approvals are subject to internal review.
Conclusion
| AMEX Platinum Credit Card |
||
| Apply Here |
AMEX Platinum Credit Cardholders now enjoy an annual S$200 Lifestyle Credit, spendable at numerous restaurants and retail outlets across Singapore.
They’ll also enjoy a welcome offer of up to S$250 eCapitaVouchers, S$130 of Comoclub C4 birthday vouchers (+ S$260 more if they max out the free supplementary cards), and the usual Love Dining and Chillax perks.
If you’ve been eyeing an AMEX Platinum Charge for its first year sweet spot, but find the annual fee too dear, then this is a lower cost alternative.
if i waived my annual fee, i am not eligible for this?
Did you read the article?
amex has become such a devalued bramd…. they are so desperate for customers. Probably aside from sg/hk it is not widely accepted despite their slogan “dont leave home without it ” the entire plat credit card, reserve, charge card has become so “cheap” that it has lost its status completely.
Personally, I have found the most useful perk of the Platinum Credit Card is a 40% off main course voucher (the rest of the vouchers are practically useless) at Lawrys for lunch for up to 20 people. It is far more generous than the Love Dining benefit. You can use it to host a large group. That was my only expenditure, so after the first year, I called to cancel, but they waived the fee and asked me to keep the card. I was pleasantly surprised they still sent me the voucher after the renewal. I will keep the card… Read more »
Does AMEX Krisflyer Ascend cardholder count as new customer or existing customer? This is not mentioned in your definition of new customers.
Case to be made for having this card again. AMEX vouchers can be used for meals or clothes at quite a good range of brands. Como $100 just nice to buy a CDG tee every year.
Hmm, I’m not sure that I’m getting 6x the value out of the platinum charge card. Might have to re-evaluate.
Is PayPal accepted as qualifying spend on Amex cards?