The AMEX Platinum Credit Card’s first year sweet spot

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New AMEX Platinum Credit Cardholders can get S$890-1,090 worth of benefits from their first year's S$327 annual fee. Here's how it works.

I’ve written previously about the AMEX Platinum Charge’s first year sweet spot, which has gotten even sweeter now with the limited-time addition of a S$200 eCapitaVoucher. But if you feel that the S$1,744 annual fee is a bit too hefty, there’s an alternative.

The entry-level AMEX Platinum Credit Card recently received some new features and an upsized welcome offer. This means that new cardholders can look forward to a first-year sweet spot of their own which ranges from S$890- S$1,090, in return for the S$327 annual fee.

Here’s how it works.

AMEX Platinum Credit Card welcome offer: S$200-400 (+2,500 MR points)

AMEX Platinum Credit Card
Apply Here
 New CustomersExisting Customers
Spend S$888
(All applicants)
S$400 eCVS$200 eCV
Spend a further S$112
(i.e. S$1,000 total)
2,500 bonus MR points2,500 bonus MR points
S$327 annual fee must be paid

New-to-AMEX customers

❓ Definition

New-to-AMEX customers are defined as those who:

  • Have not cancelled a principal AMEX Platinum Credit Card in the past 12 months, and
  • Do not currently hold an existing principal American Express consumer card (AMEX cards issued by Citi/DBS/UOB do not count, nor does the AMEX HighFlyer Card)

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.

The AMEX Platinum Credit Card is a distinct product from the AMEX Platinum Charge and AMEX Platinum Reserve.

From 7-28 February 2024, new-to-AMEX customers who apply and get approved for an AMEX Platinum Credit Card, pay the S$327 annual fee and spend at least S$888 in the first month of approval (defined as the first 30 calendar days) will receive:

  • S$400 eCapitaVouchers
  • 1,110 base MR points (S$888 at a rate of 2 MR points per S$1.60)

Should they spend a further S$112 (i.e. S$1,000 total) in the first month of approval, they will receive a further:

  • 2,500 bonus MR points
  • 140 base MR points (S$112 at a rate of 2 MR points per S$1.60)

Existing AMEX customers

❓ Definition

Existing AMEX customers are defined as those who:

  • Have not cancelled a principal AMEX Platinum Credit Card in the past 12 months

The AMEX Platinum Credit Card is a distinct product from the AMEX Platinum Charge and AMEX Platinum Reserve.

From 7-28 February 2024, existing AMEX customers who apply and get approved for an AMEX Platinum Credit Card, pay the S$327 annual fee and spend at least S$888 in the first month of approval (defined as the first 30 calendar days) will receive:

  • S$200 eCapitaVouchers
  • 1,110 base MR points (S$888 at a rate of 2 MR points per S$1.60)

Should they spend a further S$112 (i.e. S$1,000 total) in the first month of approval, they will receive a further:

  • 2,500 bonus MR points
  • 140 base MR points (S$112 at a rate of 2 MR points per S$1.60)

Terms & Conditions

Lifestyle Credit: S$300

Principal AMEX Platinum Credit Cardholders enjoy an annual S$200 Lifestyle Creditwhich is disbursed as a twice-annual S$100 credit:

  • 1 January to 30 June: S$100
  • 1 July to 31 December: S$100

Annual registration and enrolment is required, and can be done here or on the AMEX Experiences app. 

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.

Lifestyle Credits can be spent at any of the following dining and retail outlets.

Dining
HotelsRestaurants
  • Fairmont Singapore
    • Anti:Dote
    • Asian Market Cafe
    • Mikuni
    • Prego
    • The Eight
  • Paradox Merchant Court
    • Ellenborough Market Cafe
  • Resorts World Sentosa
    • CHIFA!
    • Soi Social
  • St. Regis Singapore
    • Astor Bar
    • Drawing Room
    • The Astor Grill
    • Yan Ting
  • Swissotel The Stamford
    • Clove
    • SKAI Bar
    • SKAI Restaurant
    • Stamford Brasserie
  • W Sentosa Cove
    • WOO BAR
    • SKIRT
    • Kitchen Table
  • Alegria
  • Atrium Restaurant
  • Barossa Steak & Grill
  • Cali
  • Escape
  • Harry’s
  • Jia He Chinese Restaurant
  • La Nonna
  • Lawry’s The Prime Rib
  • Napoleon
  • Sen of Japan
  • Si Chuan Dou Hua @ UOB Plaza
  • Sky22
  • Spizza
  • Verandah @ Rael’s
  • Vineyard
  • Wooloomooloo Steakhouse
  • Xin Cuisine Chinese Restaurant
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

Since it’s a S$200 annual credit, why am I using S$300 in my valuation? 

You need to remember that credits are refreshed based on calendar date, which won’t be a perfect overlap with your membership year. So, for example, if your AMEX Platinum Credit Card is approved in February 2024, you’ll get:

  • 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 you don’t renew your card for a second year, so you’ll need to use your 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).

Comoclub birthday vouchers: S$390

Comoclub C4 membership

AMEX Platinum Credit Cardholders, both principal and supplementary, are eligible for a complimentary 12-month Comoclub C4 membership. 

This includes year-round discounts at Como’s shopping and dining outlets, but the real perk are the birthday treats. In your birthday month, you will receive S$130 of vouchers (all of which have no minimum spend):

  • 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

Since the AMEX Platinum Credit Card comes with two complimentary supplementary cards, you basically get up to S$390 of value in the first membership year (S$130 x 3).

Overview: AMEX Platinum Credit Card

AMEX Platinum Credit Card
Apply Here
Income Req.Not stated*Points ValidityNo expiry
Annual FeeS$327
Min.
Transfer
450 MR points
(250 miles)
FCY Fee3.25%Transfer FeeNone
Local Earn0.69 mpdPoints Pool?Yes
FCY Earn0.69 mpdLounge Access?No
Special Earn3.47 mpd on 10Xcelerator merchantsAirport Limo?No
Cardholder Terms and Conditions
*AMEX no longer publishes income requirements for any of its cards. All applications are subject to internal review

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 annual 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.

Guide: American Express Platinum 10Xcelerator programme

Other benefits include:

Frankly speaking, this isn’t a card you get for earning miles. 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. 

Conclusion

AMEX Platinum Credit Card
Apply Here

Thanks to the ongoing welcome offers, new Lifestyle Credit and Comoclub C4 membership, a newly-minted AMEX Platinum Credit Card customer could enjoy anywhere from S$890 to S$1,090 of value in their first membership year, depending on whether they’re new-to-AMEX or existing. That’s before you take into account the value of the 2,500 bonus MR points (~S$20) and Love Dining/Chillax benefits.

This card doesn’t pack as many benefits as the AMEX Platinum Charge, and you probably won’t be using it for general spending. But if a good deal’s what you’re after, all that for S$327 certainly qualifies. 

Aaron Wong
Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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Finn

Hi Mr Milelion, I signed up for an earlier promotion that offers only $100 e-capita voucher+ 2500 MR points through your link. Now, the customer service officers are not able to change my enrolled sign up offer backend. Is there a way for me to re-enroll to the newest promotion? Thank you in advance!

D L

Hi ML, do you know when the 400 eCV will be given to me after I’ve hit the minimum spend, and do I have to do anything?

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