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AMEX Platinum Charge: Keep or cancel?

With all the nerfs to the AMEX Platinum Charge, is it still worth keeping? Here's what I think- and some alternative cards you can switch to instead.

So, itโ€™s come to this.

The AMEX Platinum Charge, once a beloved companion for many, has now lived long enough to become the villain. 

It started as a drip, with the quiet discontinuation of Platinum afโ€™FAIR and the closing of Platinum Vibes and NOOK without replacement. Then it became a flow, with straightforward travel credits replaced by a more cumbersome, micromanagement-demanding โ€œcoupon bookโ€ model, and renewal vouchers steadily devalued. And now itโ€™s become a torrent, as 2025 kicks off with bad news aplenty for cardholders. Suffice to say, there isnโ€™t a lot of love in the room right now for American Express.

Itโ€™s one thing if youโ€™re in the first year of membership, and have multiple sets of credits and a big welcome offer to cushion the blow. Itโ€™s another thing entirely if youโ€™re contemplating card renewal.

Thatโ€™s the situation Iโ€™m in. My AMEX Platinum Charge is fully paid up till October 2025, but based on the current trajectory, I โ€” like many cardholders โ€” have started to plan my exit.

โœ… โŒ Keep or Cancel: AMEX Platinum Charge

Recap: AMEX Platinum Charge 2025 nerfs (so far!)

Letโ€™s briefly recap the terrible start the AMEX Platinum Charge has had to 2025 (and keep in mind, weโ€™re only one month into the year!).

Platinum Statement Credits changed to half-yearly

AMEX Platinum Charge cardmembers receive S$1,354 of dining, shopping, entertainment and travel credits each year, known collectively as the Platinum Statement Credits.

While the Local Dining, Overseas Dining, Lifestyle and Airline credits were disbursed as a single annual credit in 2024, American Express will award these on a half-yearly basis for 2025.

๐Ÿ’ณ Platinum Statement Credits
  2024 2025
Local Dining S$200 per yr. S$100 per 6 mo.
New
Overseas Dining S$200 per yr. S$100 per 6 mo.
New
Lifestyle S$400 per yr.
(Min. S$600 spend)
S$200 per 6 mo.
(Min. S$300 spend)
New
Airline S$200 per yr.
(Min. S$600 spend)
S$100 per 6 mo.
(Min. S$300 spend)
New
Entertainment S$17 per mo.
Fashion S$75 per 6 mo.

American Express will no doubt say that quantitatively, nothing has changed. Cardholders got S$1,354 in 2024; theyโ€™ll get S$1,354 in 2025. That may be technically correct, but it misses the point entirely.

The fact is that 2025 credits will be much harder to fully utilise:

  • Having to find a nice restaurant to dine at twice a year instead of once is the very definition of a first world problem, but it adds further complexity to a card that already requires a good deal of micromanagement
  • The list of restaurants participating in the Local Dining credit has been gutted, and the remaining names are mostly Michelin-starred establishments like Cloudstreet and Odette where S$100 will barely make a dent in the bill
  • The Airline credit now requires the S$300 minimum spend to be made in a single transaction, which would be a challenge if youโ€™re booking an award flight

I shouldnโ€™t have to spell out what the underlying intention here is: by doubling the workload for customers, American Express hopes that more breakage will result (i.e. credits that expire unused), thereby lowering costs.

๐ŸŽŸ๏ธ Extreme Couponing

To give you an idea of how far American Express is willing to take the โ€œcoupon bookโ€ model, just look at the USA version of the AMEX Platinum Charge, which features:

  • US$12.95 Walmart+ credit every month
  • US$15 Uber cash every month (US$35 in December)
  • US$20 digital entertainment credit every month
  • US$50 Saks Fifth Avenue credit every half-yearly
  • US$199 CLEAR Plus credit
  • US$200 airline credit every year
  • US$200 AMEX FHR credit every year
  • US$300 Equinox credit every year

Did someone say โ€œcognitive loadโ€?

Priority Pass for supplementary cardholder cut to eight visits

The AMEX Platinum Charge offers the first supplementary cardholder a Priority Pass membership. While this used to include unlimited visits for the cardholder and a guest, from 13 February 2025 the entitlement will be cut to just eight visits per calendar year.

โ“ 4 visits or 8 visits?

Thereโ€™s some confusion here because the comms that American Express sent out quoted the lounge benefit as โ€œfour visits a year, together with a guestโ€. This led cardholders to believe that they received four visits period, whether or not they brought a guest.

An American Express spokesperson has since clarified that if the supplementary cardholder visits solo, he/she can utilise eight visits in total.

Now, it should be said that supplementary cardholders still retain unlimited access to lounges which are accessed through showing the physical AMEX Platinum Charge, such as Centurion and Plaza Premium Lounges. But these are far from ubiquitous, and the headline here is that youโ€™re losing access to thousands of lounges worldwide.

Comoclub birthday perks

American Express isnโ€™t at fault for this nerf, obviously, but it still counts in the loss column.

Comoclub announced late last year that from 2025, it would no longer award birthday treats to members who had fast-tracked their way to elite status. For AMEX Platinum Charge cardholders, these were worth up to S$780 as a C5, and S$390 as a C4 (Como soft lands members to the next lowest tier, so you were guaranteed at least two years of treats).

The silver lining here is that we later learned Comoclub was grandfathering in all legacy members, so anyone who was fast-tracked prior to 1 January 2025 will still receive birthday treats.

But if youโ€™re applying this year, or got your card approved last year but never got around to registering for the Comoclub benefit, too bad- the ship has sailed.

Great World City parking

While this is a relatively minor thing (to me at least), itโ€™s worth noting that thereโ€™s no longer any complimentary weekend parking for AMEX Platinum Charge cardmembers at Great World City.

What do you lose if you cancel your AMEX Platinum Charge?

With the AMEX Platinum Chargeโ€™s seemingly inexorable decline, the c-word is now on many peoplesโ€™ lips. Iโ€™m talking, of course, about cancellation (any other c-words that may have come to mind are purely coincidental).

Now, thereโ€™s no point cancelling your card ahead of renewal. Barring some extreme circumstances, Iโ€™ve never heard of a card issuer offering a pro-rated refund of the unused months.

But if your membership year is up, hereโ€™s the main things youโ€™ll be losing by cancelling your AMEX Platinum Charge, and my thoughts on each. 

Platinum Statement Credits

While the Platinum Statement Credits could very well be a perfect match for the lifestyles of certain people, for most, thereโ€™s always some degree of โ€œforced spending.โ€

Thatโ€™s particularly the case for the more restrictive credits like Lifestyle and Fashion, which can only be spent with certain merchants. I like wine, for example, but Grand Cru might not be the best place to buy it- especially since the special portal for Platinum cardholders can sometimes be more expensive than Grand Cruโ€™s public-facing website.

So even though the Platinum Statement Credits can help offset some of the annual fee, to the extent that youโ€™d have spent at those places anyway, it shouldnโ€™t be something that anchors you to the Platinum Charge. 

To put it another way: instead of having to deal with these increasingly finnicky credits, couldnโ€™t you just take the $1,744 saved and spend it on your own choice of dining, wines, travel, or anything else you prefer?

Annual vouchers

AMEX Platinum Charge 2024/25 renewal kit

Cancelling the AMEX Platinum Charge means no more annual voucher pack. Pre-COVID, this might have been a big disincentive, but now Iโ€™m rather ambivalent because of all the nerfs over the years.

AMEX Platinum Charge 2024/25 Vouchers
  • Complimentary 1-night hotel stay at selected properties
  • S$50 Tower Club voucher
  • S$100 Restaurant JAG voucher
  • 2x complimentary cake or bottle of wine at Fairmont Singapore/Swissotel The Stamford
  • 30% off Wan Hao Restaurant 
  • Complimentary bottle of wine at Wan Hao Restaurant (min. S$200 spend)
  • S$100 Wooloomooloo voucher (min. S$250 spend)
  • 2x 50% off 8-10 diners at Asian Market Cafรฉ
  • S$100 Adeva Spa voucher (min. S$180 spend)
  • S$100 Spa Rael voucher (min. S$180 spend) 
  • S$130 The Spa By The Ultimate voucher (min. S$180 spend)
  • S$130 The Ultimate voucher (min. S$180 spend)
  • Weekday rate of S$230++ at Fairmont Singapore/Swissotel The Stamford
  • Weekend rate of S$280++ at Swissotel The Stamford
  • Weekend rate of S$300++ at Fairmont Singapore
  • 5x weekend night upgrades at Fairmont Singapore/Swissotel The Stamford
  • S$50 Crossroads Buffet voucher (min. S$100 spend)
  • S$50 off Mikuni or 90-minute body massage at Willow Stream Spa

I end up giving away or throwing most of these vouchers, and the only one Iโ€™d really put value on is the complimentary 1-night stay at selected properties. Even then, Iโ€™ve found myself having to plan my trips around the voucher, rather than the other way round.

Airport lounge access

Centurion Lounge Hong Kong

Cancelling the AMEX Platinum Charge would mean losing my primary means of lounge access.

While thatโ€™s not ideal, I did a quick review and realised that, across all my credit cards, I already have 31 free lounge visits. Given my overall mix of First/Business Class and Economy/Budget travel, thatโ€™s more than I can use in a year anyway.

Besides, thereโ€™s nothing stopping me from replacing the AMEX Platinum Charge with a more affordable option like the Citi Prestige (see next section on alternatives), which offers unlimited Priority Pass visits with one guest.

However, one thing that canโ€™t be replaced is access to Centurion Lounges. I know they get a lot of bad press because of overcrowding, but my experiences so far have been great. I find the F&B quality to be way above anything youโ€™d find in a Priority Pass lounge, and yes, theyโ€™re crowded, but which lounge isnโ€™t these days?

Food spread at LAX Centurion Lounge

Still, having access to a slightly better lounge a few times a year isnโ€™t something Iโ€™m about to pay four digits for.

Hotel and rental car elite status

The AMEX Platinum Charge grants cardholders elite status with several programmes:

  • Avis Presidentโ€™s Club
  • Hertz Gold Plus Rewards Five Star
  • Hilton Gold
  • Marriott Bonvoy Gold
  • Pan Pacific DISCOVERY Platinum
  • Radisson Rewards Premium

Of these, the only status I consider truly valuable is Hilton Gold, primarily for its complimentary breakfast benefit. However, since I personally already hold Hilton Diamond, the incremental benefit is really for my supplementary cardholders only. 

As for the others: Avis Presidentโ€™s Club is also available to Mastercard World Elite cardholders, while GHA DISCOVERY makes qualifying for top-tier Titanium status very easy (you just need 3 brands). Marriott Bonvoy Gold and Radisson Rewards Premium offer limited value at best, so I wouldnโ€™t shed many tears for losing them.

AMEX Platinum Reserve

If I cancel my AMEX Platinum Charge card, Iโ€™ll lose the annual fee waiver for the AMEX Platinum Reserve. Since thereโ€™s no way Iโ€™m paying S$545 for its mediocre benefits (the same fee as the Citi Prestige!), Iโ€™ll have to give up that card too.

This means saying goodbye to perks like the 1-night Fraser Hospitality stay and some complimentary bottles of wine. However, the decision has been made easier by last yearโ€™s nerfs, which removed the S$100 Tower Club voucher and reduced the Fraser Hospitality stay from two nights to one.

I also understand that canceling the AMEX Platinum Charge means I wonโ€™t qualify for a free AMEX Platinum Reserve even if I reapply in the future, as the waiver is only for those approved for an AMEX Platinum Charge before 1 November 2022. But again, that doesnโ€™t bother me too much, given how much the cardโ€™s value has diminished. 

AMEX Fine Hotels & Resorts

Iโ€™ve booked hotels through the AMEX Fine Hotels & Resorts programme several times over the years, usually for one-night stays where the US$100 hotel credit helps offset a large chunk of the overall bill.

However, itโ€™s possible to book luxury advisor rates with similar benefits through a free platform like HoteLux (itโ€™s technically a paid-for membership, but itโ€™s so incredibly simple to get for free itโ€™s almost criminal if you pay).

Therefore, I wouldnโ€™t consider this a benefit worth paying for. 

Complimentary travel insurance

While the complimentary travel insurance provided by the AMEX Platinum Charge is fairly comprehensive, it doesnโ€™t cover the loss of airline miles (e.g. if you redeem a Spontaneous Escapes ticket and canโ€™t travel because of illness).

Because of this, I buy a separate Singlife Travel Insurance plan and use that as my primary coverage. 

Love Dining & Chillax

Iโ€™m a big fan of the Love Dining and Chillax programmes, and after several years of backsliding, the list of participating restaurants and bars started growing again in 2023 and 2024. It now features several places that I love, like 15 Stamford and Tapas24. 

Guide: American Express Love Dining programme

The discounts have saved me a lot of money, but you donโ€™t actually need the AMEX Platinum Charge to enjoy this. Itโ€™s equally available to anyone with an entry-level AMEX Platinum Credit Card, so this shouldnโ€™t stand in the way of cancellation.

AMEX Experiences

Montblanc Archive Roadshow

AMEX Platinum Charge cardmembers can join various lifestyle and F&B events organised by American Express via the AMEX Experiences app. I find these to be well-organised, and Iโ€™ve had a lot of fun learning and boozing alongside fellow cardmembers.

But again, this is more of a โ€œnice to haveโ€, and not a core reason for holding the card. Besides, I daresay the events used to be better in the pre-COVID era. I still remember with great fondness the IWC showcase held at The Atelier & Co, with good food, free flowing champagne, and artisanal gelato. You could make your own flower bouquets, browse a selection of vintage watches, and even try your hand at disassembling and reassembling a watch movement. There was even a poet-in-residence to write a ditty of your choice, because why not?

AMEX Platinum IWC event
AMEX Platinum IWC event
Poetry in motion

What are the alternatives?

So, assuming youโ€™ve decided to cancel, what cards could potentially fill the AMEX Platinum Chargeโ€™s role in your wallet?

Option 1: Upgrade to $500K

This isnโ€™t an option for me personally, but if you feel that the AMEX Platinum Charge no longer offers the creamy de lah creamy lifestyle you were hoping for, thereโ€™s always the option of upgrading to something that does.

Iโ€™m talking, of course, about the $500K segment. This collection of elite credit cards requires a minimum income of S$500,000 a year, a private banking relationship, or significant amount of spend on other cards (think S$200,000 at the very minimum). And yes, they come with hefty annual fees too- trust me, youโ€™ll never complain about paying S$1,744 again!

๐Ÿ’ณ S$500K Segment
Cards Annual Fee
amex centurionAMEX Centurion S$7,630
Review
Citi ULTIMA S$4,237.92
Review
UOB Reserve S$3,924
Review
DCS Imperium S$3,583.92
Review
DBS Insignia S$3,270
Review

The AMEX Centurion is no doubt the pick of the litter, but with a price tag thatโ€™s sure to spark palpitations (thereโ€™s a further โ€œinitiation feeโ€ that doubles the annual fee in the first year- who said hazing was just for boarding school?) and a hard cap on membership, getting a foot in the door will be a problem. Your chances might be better with โ€œlesserโ€ cards like the Citi ULTIMA or UOB Reserve (the less said about the DCS Imperium the better).

I donโ€™t have firsthand experience with these cards, so I canโ€™t speak to how good their concierge services are, or whether thereโ€™s other unpublished benefits that make the fee worthwhile.

What I can say is, based on the published benefits, is that if you were fretting about earning back your S$1,744โ€™s worth on the AMEX Platinum Charge, I donโ€™t think any of these will fare much better (except perhaps the Citi ULTIMA, assuming you make heavy use of its 2nd night free hotel benefit).

Option 2: Switch to StanChart Beyond Card

StanChart Beyond Card
  Regular Priority Banking Priority Private
Welcome Offer 100,000 miles
Local Earn 1.5 mpd 2 mpd 2 mpd
FCY Earn 3 mpd 3.5 mpd 4 mpd
FCY Dining 8 mpd
Birthday Meal 1x
Business Class Upgrades 2x 
Airport Lounge โˆž + 6 guests
(Principal & Supp.)
Airport Limo โ€“ 2x 10x^
Accor Plus โ€“ โ€“ Yes
(Explorer Plus)
Mastercard Tier World Elite Mastercard
^Standard Chartered markets this as 10x limo rides, but this includes the 8x complimentary limo rides that Priority Private customers already enjoy without the Beyond Card

If you prefer not to double the annual fee youโ€™re paying, then the StanChart Beyond Card is worth a look. 

Review: Standard Chartered Beyond Card

In some ways, this card seems carefully calibrated to woo disillusioned Platinum Charge members. Its annual fee of S$1,635 is within a whisker, and its S$200,000 minimum income requirement is similar to what the Platinum Charge had back in 2018 (that requirement has since been removed).

But thatโ€™s where the similarities end, because the Beyond is otherwise a very different beast from the Platinum Charge.

On the plus side, the Beyondโ€™s earn rates dwarf the miserly 0.78 mpd that the Platinum Charge offers. Cardholders earn 1.5-2 mpd on all SGD spend, 3-4 mpd on all FCY spend, and 8 mpd for FCY dining (Priority Private only). Because these rates are uncapped, the more you spend, the more you earn.

The other big advantage of the Beyond is that it gives an unlimited-visit Priority Pass membership to the principal cardholder and 4x supplementary cardholders. Mind you, these Priority Pass memberships would be more useful than the ones that American Express provides, because thereโ€™s no restrictions on non-lounge airport experiences like restaurants or spa treatments.

Explained: Non-lounge restrictions for AMEX-issued Priority Pass cards

On the minus side, the rest of the Beyondโ€™s perks are rather middling, unless perhaps you qualify for the Priority Private version:

  • Regular Beyond cardmembers get a birthday meal, and two very convoluted Business Class upgrades (if you think the Airline credit is hard to use, wait till you see this!), and generic World Elite Mastercard benefits
  • Priority Banking Beyond cardmembers get all of the above, plus two airport limo rides
  • Priority Private Beyond cardmembers get all of the above, plus an Accor Plus Explorer Plus membership

The other big question mark hanging over the Beyond is the requirement to carry out at least one eligible investment or eligible deposit each year to retain the incremental benefits of the Priority Banking and Priority Private tiers. 

 

7. In order for a Beyond principal cardholder to continue to be eligible for the programmes, or part thereof, that are specially offered to Beyond principal cardholders who have a Priority Banking, Priority Private or Private Banking relationship with the Bank, i.e. the programmes listed under Clauses 1.1, 1.4, 1.7, the Beyond principal cardholder must carry out at least one (1) Eligible Investment or Eligible Deposit with the Bank within 12 months after the first renewal of the Beyond Card and yearly thereafter.

Further details of this requirement will be provided in due course. This requirement will not apply for the first 12 months after the Beyond Card is issued to you.

This requirement is waived for the first year, and Standard Chartered has not yet specified what these eligible investments or deposits will be. One thingโ€™s for sure though. Whatever they are, theyโ€™ll be something that generates money for the bank. As someone who prefers low-cost roboinvesting, I donโ€™t particularly relish the requirement to buy overpriced investment or insurance policies. 

Itโ€™s for these reasons Iโ€™m not 100% sold on switching to the Beyond. Maybe if youโ€™re a Priority Private customer, then a combination of the 100,000 miles welcome bonus and a good deal of overseas dining spend could make the first year worthwhile. After that, weโ€™ll have to see what kind of investments/deposits Standard Chartered requires to maintain the incremental perks from the second year onwards.

Option 3: Downgrade to a $120K card

If youโ€™re done with paying four-digit annual fees, then a downgrade to a $120K card would be the logical next move. Iโ€™m not about to go through all the benefits of the various $120K cards โ€” refer the annual $120K showdown for that โ€” but the Citi Prestige would be a prime candidate.

For the S$545 annual fee (30% of the AMEX Platinum Charge), cardholders receive: 

  • Unlimited Priority Pass lounge visits, together with one guest (and none of the non-lounge airport experience restrictions that American Express has)
  • Up to 8x airport limo rides, though it does require a hefty S$12,000 minimum spend (which can be met through Citi PayAll)
  • 4th Night Free on hotel bookings made through the concierge
  • Generic World Elite Mastercard perks

Itโ€™s true that Citi PayAll is no longer the big draw it once was, due to the hike in admin fee to 2.6%, but that aside, it offers the clearest path to annual fee recovery through the 4th Night Free benefit. 

Option 4: Downgrade to AMEX Platinum Credit Card

A fourth option, and the one Iโ€™m currently leaning towards, is to downgrade to the AMEX Platinum Credit Card. This costs just S$327, or 20% of the AMEX Platinum Charge.

An AMEX Platinum Credit Card would give me:

  • Love Dining and Chillax benefits
  • A simple-to-use S$200 Lifestyle credit
  • The ability to retain my Membership Rewards (MR) points until theyโ€™re needed

Letโ€™s focus on those last two points. 

A simple-to-use $200 Lifestyle credit

The AMEX Platinum Credit Card offers an annual S$200 Lifestyle credit, split into 2x S$100 half-yearly allotments.

On first glance, the AMEX Platinum Charge appears to have the upper hand, as its credits make up 78% of the annual fee, compared to 62% for the AMEX Platinum Credit Card.

 
  AMEX Platinum Credit Card AMEX Platinum Charge
Annual Fee S$327 S$1,744
Statement Credits S$200 S$1,354
As % of Annual Fee 62% 78%

But numbers donโ€™t tell the whole story. More credits doesnโ€™t mean anything if you canโ€™t spend them, and the Lifestyle credit is a lot easier to use.

For starters, it can be spent at more than 75 merchants across Singapore.

Lifestyle Credit: Restaurants
๐Ÿฝ๏ธ Lifestyle Credit: Restaurants
Hotels Restaurants
  • Fairmont Singapore
    • Anti:Dote
    • Asian Market Cafe
    • Prego
    • The Eight
  • Paradox Merchant Court
    • Ellenborough Market Cafe
  • Pullman Singapore Hill Street
    • Madisonโ€™s
    • MOGA
  • 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
  • The Fullerton Hotel
    • Town Restaurant
  • The Capitol Kempinski
    • 15 Stamford Restaurant
    • The Bar at 15 Stamford
    • Lobby Lounge
  • The Robertson House
    • Entrepot
  • W Sentosa Cove
    • WOO BAR
    • SKIRT
    • Kitchen Table
  • Alegria
  • Atrium Restaurant
  • Barossa Steak & Grill
  • Burger & Lobster
  • Cali
  • Escape
  • Harryโ€™s
  • Jia He Chinese Restaurant
  • Lโ€™Angelus
  • La Nonna
  • Lawryโ€™s The Prime Rib
  • Les Bouchons
  • Napoleon
  • Peach Garden
  • Quenino by Victor Liong
  • Sen of Japan
  • Si Chuan Dou Hua @ UOB Plaza
  • Sky22
  • Spizza
  • Tablescape Restaurant & Bar
  • Tapas 24
  • Verandah @ Raelโ€™s
  • Vineyard at HortPark
  • Wooloomooloo Steakhouse
  • Xin Cuisine Chinese Restaurant
  • YAN

Lifestyle Credit: Fashion
๐Ÿ‘— Lifestyle Credit: Fashion
  • Ba&sh*
  • Brunello Cucinelli*
  • Benjamin Barker
  • Calvin Klein
  • Charles & Keith
  • Chloe
  • Decathlon (also valid for online purchases)
  • Emporio Armani*
  • Giorgio Armani*
  • Gucci
  • Hugo Boss
  • Love, Bonito (also valid for online purchases)
  • Lululemon
  • Marks and Spencer
  • Manolo Blahnik*
  • Massimo Dutti
  • Michael Kors
  • Montblanc*
  • Moschino*
  • Muji
  • Pedro
  • Polo Ralph Lauren
  • Sabon*
  • Saint Laurent (also valid for online purchases)
  • Stone Island*
  • Swatch
  • Uniqlo (also valid for online purchases or mobile app purchases)
*Also 10Xcelerator partner

All 50+ restaurants are part of Love Dining, so you can stack credits with up to 50% off the bill.  In contrast, the AMEX Platinum Chargeโ€™s Local Dining credit is now limited to 13 fine dining restaurants, none of which are Love Dining eligible.

Or if you prefer to use the Lifestyle credit for fashion, thereโ€™s more than two dozen brands to choose from, all with physical locations in Singapore so you can try before you buy. In contrast, the AMEX Platinum Chargeโ€™s Fashion credit is only valid at Mr Porter and NET-A-PORTER. 

So the AMEX Platinum Credit Cardโ€™s Lifestyle credit is just much more straightforward. Thereโ€™s no need to leave Singapore to use it, the list of dining and fashion merchants is larger, thereโ€™s no minimum spend required, and even though the credits are also split into half-yearly intervals, theyโ€™re easier to manage within a single categoryโ€”unlike the six categories of the AMEX Platinum Charge.

Retain my Membership Rewards points

Membership Rewards (MR) points are one of the best points currencies in Singapore, because:

  • MR points donโ€™t expire
  • MR points can be transferred to 12 airline and hotel loyalty programmes (including instantly to KrisFlyer)
  • Conversions of MR points are free of charge
  • The minimum conversion block is just 250 miles

If I were to cancel my AMEX Platinum Charge, I would have to cash out all my MR points first. But that forces me to pick a programme, and start the clock on expiry (if any). Since I have sufficient miles for now, Iโ€™d rather keep the flexibility of MR points instead.

Downgrading to the AMEX Platinum Credit Card would remove the need to cash out my MR points, as theyโ€™ll simply be retagged to the Platinum Credit Card. The drawback here is that the AMEX Platinum Credit Card has a slightly worse transfer ratio to airline programmes of 450 MR points = 250 miles (versus 400 MR points = 250 miles for the AMEX Platinum Charge). 

Frequent Flyer Programme Conversion Ratio
(AMEX: Partner)
Plat Charge & Centurion Others
400 : 250 450 : 250
450 : 250 450 : 250
asia miles logo 400 : 250 450 : 250
british airways logo 400 : 250 450 : 250
400 : 250 450 : 250
evaair logo 400 : 250 450 : 250
enrich logo 400 : 250 450 : 250
qantas logo 400 : 250 450 : 250
thai airways logo 400 : 250 450 : 250
1,000 : 1,000 1,000 : 1,000
1,000 : 1,250 1,000 : 1,250

This means Iโ€™m โ€œdevaluingโ€ my stash of MR points by 11%- but only if I โ€œrealise the lossโ€ by transferring them to miles. Like I said, I donโ€™t need more miles just yet, and for the foreseeable future, Iโ€™m more likely to top up my Marriott Bonvoy or Hilton Honors accounts where the transfer ratio is the same across cards.

In the future, when I do need miles, I could reapply for the AMEX Platinum Charge (hopefully after 2 years, when Iโ€™ll be eligible for a welcome bonus once again), thereby โ€œupgradingโ€ the value of my stash. 

Conclusion

One last ride?

If youโ€™re reading this article as a first year AMEX Platinum Charge cardmember, I wouldnโ€™t worry so much. Even with all the nerfs, youโ€™ll almost certainly come out ahead once you factor in the value of your welcome bonus, plus the ability to utilise 2 1.5 sets of credits in your first membership year.

But for everyone else, itโ€™s a different matter altogether. I honestly have no idea what the rest of 2025 holds for the AMEX Platinum Charge, but with the benefits being consistently chipped away, renewing the card is becoming a more and more marginal proposition. And while Iโ€™ve had some great memories with this product, the worst mistake you can make is to get sentimental over your cards. 

Frankly, I donโ€™t really care whether the AMEX Platinum Charge is โ€œpremiumโ€ or not. The card has been criticised in some quarters for removing its minimum income requirement and swelling the membership ranks, but if you signed up for an ego boost, then I really donโ€™t know what to say to you.

What I do care is whether I can get more out of the annual fee than I put in, and the effort involved in doing so. The effort to payoff ratio has been trending steadily downwards, and there comes a point where youโ€™re better off taking that S$1,744 and spending it how you want to, not how American Express wants you to.

I still have eight more months to go in my current membership year, but if my renewal decision were today, Iโ€™d be taking a serious look at alternative cards- and you should too.

Are you planning to renew your AMEX Platinum Charge this year?

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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Syok

Yeah, feeling the same, I am downgrading to the entry level after holding it for 5 years. I no longer love this card. In past, I was passionate telling my friends about how you can max out from the AF, no longer the case now

Last edited 26 days ago by Syok
Carpe diem

May I ask which is the entry level Amex card you are talking about?

Kel

Love your comment! โ€“ but if you signed up for an ego boost, then I really donโ€™t know what to say to you.

Darren

Arent Asia miles 1:1 with AMEX MR

TKW

I decided to switch to the SCB Beyond. The $1635 fee means buying miles at 1.635 cents for the first year, but as a PP member, this is mitigated by the Accor Explorer Plus and 2 additional limo trips. There is a $20,000 spending requirment which can be met by paying GIRO tax instalments for myself and my wife through Cardup. The additional benefit is I get a solid 2 mpd by using Cardup. I am not close to meeting the income requirement, but the online application was approved instantly. The card comes in a large and hilariously over-the-top box.โ€ฆ Read more ยป

Amex nerf

Whatโ€™s the AUM required for priority private?

Common

Something had to break. The merchant charge probably couldnโ€™t cover all the min maxing

Miracle

Iโ€™m combining Options 3 and 4. Total cost of Citi Prestige and basic Amex Plat card is half the price of the Plat charge. Plus Amex Plat usually gives 50% off with a simple call (as long as you have used it a few times a year).

Ben

Cancelled 2 years ago, never looked back since.

There are so many other options nowadays for the share of wallet space.

Jon

exactly

Milechaser

Wondered why this card was worth it. Might as well keep the annual fee and spend the cash as I wish without the headaches (not the forget those earn miles on other cards on top of that as well)

Phil

Dropped it a few years ago when I realised I couldnโ€™t cope with all the vouchers.

Terry

Just spoke to their support, they no longer send out the vouchers at the start of the year, but on renewal. So you will only get 1 set of vouchers in year 1โ€ฆ.

TKW

One other possible benefit that may be lost is that I have always managed to get a complete waiver on my Platinum Credit and Highflyer cards, even though I donโ€™t spend a lot on them. I think it will be much harder to get a waiver without a Platinum Charge.

Philip

Have consistently been able to get 50% waiver for my Platinum Credit card by giving CSO a call (no other AMEX cards). YMMV

Last edited 25 days ago by Philip
JHH

No based on my experience with 50% off the AF

KT87

My renewal is up. I called to express my displeasure with their new policies, and they offered a 50K MR retention bonus (same as last year). Iโ€™m undecided since I can still use the free hotel stay, $200 dining credits (local & overseas), and $200 SQ credit in 2025, but they total less than the AF, making it a tough call.

Last edited 25 days ago by KT87
Renz

My renewal coming next monthโ€ฆ I have this card since 2017โ€ฆ
Its finally now making me seriously thinking to continue or notโ€ฆ i do not spend much on the 10x merchants anymore too

Miles

The entry level amex plat card has 10x merchants too

CharteredMember

Loved it. Had it. Glad I moved onโ€ฆmany alternatives out there.

CFO

Why no mention of Visa Infinite cards as an alternative? They also have partner status matching such as Avis Presidentโ€™s club (https://www.visa.com.sg/en_sg/visa-offers-and-perks/avis/141275)

Jamil K

Dinners Club card has lost its lust after changing hands few times during the last few decades but the benefits are still competitive at a much affordable cost. Worth exploring it!

Henry

I couldnโ€™t agree, I recently signed up for the CC in anticipation of a cancellation of the charge card this year (LD is still worth it). I wouldnโ€™t be surprised if the current promotion (eligible to existing customers too) is precisely intended to convince some plat charge users who are not the target audience, to step down. But once again, who is the target audience nowโ€ฆ I personally signed up in the hope of having a go-to card for travels expenses but between : a nerfed PP : non lounge experiences should be a main selling point for a cardโ€ฆ Read more ยป

yep

Not all year long, only 16K limit, barely enough for one shopping trip, or one watch, or one bag.
I agree on the PP, itโ€™s useless for the original income >200K target market, since weโ€™re in the airline lounges already. I donโ€™t use the PP at all. Centurion lounges are crowded as well. A meal with companions outside a lounge would be better.
I agree on the stay voucher, it doesnโ€™t even include breakfast in Singapore.

Zaos

Agreed.

Vouchers are useless. Amex PP is useless.

CrazyTiger

At the rate itโ€™s going im going to cancel it this year. Been contemplating it for a couple years but this is really too much.

Adrian

I called today to cancel mine. Their so called benefits remain the same is really nonsense and rubbish. ๐Ÿ™„

Neil Yeoh

Aaron, please add an important detail to the 2025 lifestyle benefit. Itโ€™s very difficult to use this benefit for spa treatments because these treatments are overpriced, you have to sign up for a package with the spa, and you have to find a free slot in the spa. But for wine from Grand Cru, in addition to the $300 Amex minimum spend, there is a Grand Cru $350 minimum spend or a $30 delivery fee. In practice, the wine lifestyle benefit is really $200 credit for $350 minimum spend.

Agree

The whole Lifestyle section of benefits has always seemed pointless overpriced spend. The spasโ€ฆ. less said better. The wines seemed the best of a poor bunch but itโ€™s not difficult to find other retailers with better prices/visibility/accessibility. Even Cold Storage can have better pricing (I like LPGS). Only netflix and airline credits are useful (total about $400). The local dining is persnickety and the foreign dining is either serendipity or a chore of planning. The previous $400 air and $400 accommodation credits were well-utilised because they were easy. The current credits are Amex dealing with the left hand. Iโ€™m notโ€ฆ Read more ยป

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