AMEX True Cashback Card

Find out how a Cashback credit card works, and the difference between Cashbacks and cash rebates.

Key Features and Benefits of AMEX True Cashback Card

With the AMEX True Cashback, easily enjoy 1.5% cashback on all eligible purchases with no cap, and no minimum spend. For overseas transactions, earn an additional 1% cashback on Foreign Currency Purchases. You can receive the cashback immediately in the same month's billing statement. New sign-ups can enjoy double the cashback at 3%, for their first 6 months, with a limit of up to S$5,000. Travelers can also get free travel insurance benefits of up to S$350,000 when you purchase your air ticket with American Express True Cashback Card

These are some highlights of the AMEX True Cashback Card and the Cashback benefits it has to offer:

Eligibility for AMEX True Cashback Card

To be eligible for the AMEX True Cashback Card, you'll have to meet the following criteria:

• 21 years old and above
• Supplementary card application should be 18 years old and above
• For Singaporeans and PRs: Minimum annual income of S$30,000
• For Foreigners: Minimum annual income of S$60,000

Fees and Charges for AMEX True Cashback Card

• Annual Principle Fee: $171.20, waived for the first year
• Annual Supplementary Card fee: First 2 Supplementary Cards fee permanently waived. S$85.60 (inclusive of GST) for each subsequent Supplementary Card.
• Fee waiver: First-year annual fee waiver
• Interest-Free Period: 22 days
• Annual Interest Rate: At the prevailing effective interest rate of 25.90% p.a. subject to compounding; or 29.99% p.a. subject to compounding in the event that your account has three or more defaults~ and/or one default~ which remains unpaid for two or more consecutive months in the last 12 months.
• Minimum monthly payment: The minimum payment amount due on a statement of account is 3% of the outstanding balance plus the total sum of any overdue minimum payment and late payment charges, and any amount exceeding your credit limit, or S$50. Whichever is greater.
• Late payment charge: S$90 if the Minimum Payment specified in the Statement is not received by us by the Payment Date.
• Cash advance fee: The fee for a cash advance is $5 or 3% of the transaction, whichever is greater

AMEX True Cashback Card Promotions

• Welcome bonus of 3% Cashback if you spend S$1,000 in your first 6 months (capped at S$5,000)
• Welcome offer of up to S$60 CapitaLand Vouchers if Cardmembers spend S$1,000 within the first 30 days (promotion valid till 30 April 2020)

The Best Cash Back Cards Review 2020: How does AMEX True Cashback Card Compare

Pros:

• No minimum spend and No maximum cap on the cash back you can earn
• As with most American Express Card, there are membership benefits on multiple lifestyle genres through Amex Dining Privileges and Amex Selects.
• A straight-forward, and simple cashback card without the fuss of tracking how much cash back you have left in god knows which category, or how much more you require to maximise your rewards.
• Ideal for big spenders who will usually hit the ceiling on most cash back credit card limits
• Enjoy world-class and renowned American Express service especially when you're in need of help overseas

Cons:

• 1.5% cash back on all areas of spend might not be suitable for thriftier spenders
• Also not an ideal card for those with more specialised areas of transactions like Online Shopping, Dining, etc.

Still unsure? Find out everything you need about credit cards - including what the best credit cards in Singapore are for miles and Cashback, factors to consider before getting one, fees to know, and why a good credit score matters.

You can also pose questions (anonymously, if you'd prefer) on Seedly Community .

Terms and Conditions of AMEX True Cashback Card

• As a welcome bonus, you will earn Cashback at the rate of 3% on up to a total of S$5,000 of purchases of goods and services made on your account
• (which shall include both spending by you and your Supplementary Card Members) in the first 6 months of your American Express True Cashback Card Membership, subject to the other Cashback Terms and Conditions and any promotional offer we make
• When the Cashback rate of 3% applies to a purchase of goods or services during the welcome bonus period, the Cashback rate of 1.5% will not be applied in addition to the Cashback rate of 3% to the same purchase
• Purchases of goods and services in excess of S$5,000 during the welcome bonus period will earn Cashback at the standard rate of 1.5%, subject to the other Cashback Terms and Conditions and any other promotional offer we make.
• There is no cap on cashback
• Cashback applies regardless if you make local purchases or overseas expenditures

How to Apply for AMEX True Cashback Card

• Apply Online or
• Visit American Express

About American Express

Since 1850, American Express (AMEX) has remained committed to providing its customers with the best products and services. Some popular credit cards include AMEX CapitaCard, AMEX Platinum Credit Card, AMEX True Cashback Card, AMEX Personal Card and AMEX Singapore Airlines KrisFlyer Credit Card.