AMEX Platinum Credit Card welcome offer: S$400 eCapitaVoucher or 61,250 bonus MR points

American Express has been throwing its weight behind the AMEX Platinum Credit Card of late, with an excellent welcome offer of S$400 eCapitaVouchers for new-to-AMEX customers boosting the first-year value proposition to as much as S$1,090.

The welcome offer was originally set to lapse on 28 February 2024, but has now been extended till 31 March 2024 with an additional option of 61,250 bonus MR points should you not want the eCapitaVouchers.

Existing AMEX customers are still eligible for S$200 eCapitaVouchers as a welcome gift, so it’s something worth considering whether or not you already hold an American Express card. 

AMEX Platinum Credit Card welcome offer

AMEX Platinum Credit Card
Apply Here
	New Customers	Existing Customers
Spend S$1,000	S$400 eCV or 61,250 MR points	S$200 eCV
Base Points from S$1,000 spend	1,250 MR points	1,250 MR points
S$327 annual fee must be paid

New-to-AMEX customers

New-to-AMEX customers who apply by 31 March 2024 (with approval by 5 April 2024) for an AMEX Platinum Credit Card, pay the S$327 annual fee and spend at least S$1,000 in the first month of approval (defined as the first 30 calendar days) will receive:

• S$400 eCapitaVouchers or 61,250 bonus MR points
• 1,250 base MR points (S$1,000 at a rate of 2 MR points per S$1.60)

61,250 bonus MR points are worth ~34,000 airline miles with any of American Express’ airline transfer partners, and assuming you choose KrisFlyer, I’d value it at around S$510 (based on 1.5 cents per mile). 

💳 Membership Rewards Transfer Partners
Frequent Flyer Programme	Conversion Ratio (AMEX: Partner)
	450:250
	450:250
	450:250
	450:250
	450:250
	450:250
	450:250
	450:250
	450:250
	450:250
	1,000:1,000
	1,000:1,250

So if you’re more inclined towards airline miles, then I’d recommend taking the MR points instead of the eCapitaVouchers. 

Existing AMEX customers

Existing AMEX customers who apply by 31 March 2024 (with approval by 5 April 2024) for an AMEX Platinum Credit Card, pay the S$327 annual fee and spend at least S$1,000 in the first month of approval (defined as the first 30 calendar days) will receive:

• S$200 eCapitaVouchers
• 1,250 base MR points (S$1,000 at a rate of 2 MR points per S$1.60)

What counts as eligible spending?

The minimum spend can be met by any transaction on the principal or supplementary card except those on the AMEX exclusion list.

Some examples of ineligible spending include:

• Charitable donations
• Education
• GrabPay top-ups
• Insurance premiums (unless purchased through AMEX authorised channels such as Chubb)
• SPC transactions
• Utilities

CardUp, and private hospitals, and anything else not explicitly stated in the exclusion list will count as eligible spend. Do note there are certain restrictions on AMEX payments with CardUp, as summarised in the article below. 

Explained: American Express restrictions on CardUp payments

All spending on supplementary cards will pool with principal cards when determining whether the minimum spend has been met.

Terms & Conditions

• eCapitaVouchers or bonus MR points
• Cardmember benefits

Maximising this offer

As I mentioned at the start of the article, the AMEX Platinum Credit Card offers an excellent first-year value proposition, whether you’re a new-to-AMEX or existing AMEX cardholder.

Assuming you take the eCapitaVouchers, new-to-AMEX and existing cardholders can look forward to S$1,090 and S$890 respectively, a significant return on the first year’s S$327 annual fee- and that’s before even factoring in the value of other benefits such as AMEX Love Dining and Chillax. 

The value of the MR points is more subjective, but based on my personal valuation of 1.5 cents per mile, the total value for a new-to-AMEX customer increases to as much as S$1,200.

For a full rundown of maximising your first year value, refer to the post below.

The AMEX Platinum Credit Card’s first year sweet spot

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 *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:

• 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 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

American Express has extended its excellent welcome offers for the AMEX Platinum Credit Card, with S$200/S$400 eCapitaVouchers available for existing/new-to-AMEX applicants.

The latter can also choose to receive 61,250 bonus MR points instead, which could potentially be worth more than the eCapitaVouchers, depending on what kind of redemption you make and your personal miles valuation.

Either way, you’ll still enjoy the annual Lifestyle Credit and Comoclub C4 membership, so there’s plenty to cover the first year’s S$327 annual fee, and then some.