6 reasons to get the Amex CapitaCard
Singaporeans who shop frequently at CapitaLand Malls should consider acquiring the American Express CapitaCard. Every time you use this card, you earn a certain number of STAR$.
To get an idea about the amount that you can earn using this credit card, it is important to first familiarise yourself with how the STAR$ system works. The STAR$ that you accumulate can be redeemed for CapitaVouchers in the following denominations:
- 5,000 STAR$ = One S$5 CapitaVoucher
- 10,000 STAR$ = One S$10 CapitaVoucher
- 50,000 STAR$ = One S$50 CapitaVoucher
Where can you use your CapitaVouchers? There are a number of stores across the 17 CapitaLand Malls in Singapore where you can use these. This list of stores includes Robinsons, Marks & Spencer, Harvey Norman, and Giant Hypermart. You can see a complete list here.
Here are the benefits of getting the American Express CapitaCard.
1. Get 10 additional STAR$ at participating stores in CapitaLand Malls
Using your American Express CapitaCard at merchants registered with the bank earns you five STAR$ for every S$1 that you spend. This implies a benefit of 0.5% of the amount that you swipe your card for.
This is how the calculation works. Say, you spend S$1,000 on your Amex CapitaCard. You will earn 5,000 STAR$. (1,000 X 5). You can redeem these 5,000 STAR$ for a CapitaVoucher of S$5. So you have gained S$5 by spending S$1000. That works out to a benefit of 0.5%.
Remember that you can earn this amount of STAR$ by using your card at any store registered with American Express. But if you use your Amex CapitaCard at a participating store in a CapitaLand Mall, you can earn triple the benefits.
Any amount spent at a participating store in a CapitaLand Mall gets you 10 additional STAR$. That’s a total of 15 STAR$ for spending S$1. The benefit jumps from 0.5% to 1.5%.
Of course, there are certain conditions that you must adhere to if you want to earn this increased amount. Firstly, the amount of STAR$ that you can earn at the enhanced rate is limited to 18,000 STAR$ per month. Spending S$1,200 will earn you 18,000 STAR$ (1,200 X15 = 18,000).
Any amount that you spend over S$1,200 will earn you the normal rate of five STAR$ for every S$1.
2. Earn an additional 50 STAR$ for every S$1
At certain retail outlets in CapitaLand Malls, the earning potential is much greater. You receive an extra 50 STAR$ on certain purchases at a limited number of outlets. This is in addition to the 15 STAR$ that you earn in the normal course.
This facility is labelled as the Xtra Program and is available at select outlets in different CapitaLand Malls.
You can see a list of participating outlets under the Xtra program here.
3. Take advantage of the Welcome Bonus and the Spend Bonus
American Express has made it easy for you to rapidly build up your STAR$ balance. Immediately after getting your new American Express CapitaCard, you can earn 20,000 bonus STAR$ by swiping your card for as little as S$1.
In another initiative, you can earn an additional 30,000 STAR$ by spending S$888 within the first six months of getting the card.
The 20,000 bonus STAR$ are available under the bank’s “Welcome Bonus” and the 30,000 STAR$ can be earned as a “Spend Bonus.” Both the Welcome Bonus and the Spend Bonus will be provided only to those applicants who receive approval for their new Amex CapitaCard by 30 September 2017.
4. Earn STAR$ when you refer a friend
It is possible to earn an additional 30,000 STAR$ by simply referring a friend or a family member for an Amex CapitaCard. You will receive the bonus about eight weeks after the person who you have referred gets an approval for the card.
How many such references can you make? The Amex program, which is called the “member-get-member referral program,” allows you to make a maximum of 50 referrals. But the bank’s rules clearly specify that you can only refer friends and family members.
Even if you get a few of the people you know to apply for the card, you can accumulate a large number of additional STAR$.
As an added incentive, the person you are referring also gets bonus STAR$. This bonus of 20,000 STAR$ is credited to the new card holder’s account only if a minimum of S$50 is spent on the card within the first three months of approval.
5. It is easy to get one
You are eligible for an American Express CapitaCard if you have an annual income of more than S$30,000. This is the minimum amount that you must earn if you are a Singapore citizen or a permanent resident. For expats, you’ll need to earn at least S$60,000 per year.
The card carries an annual fee of S$171, but it is waived for the first year. Supplementary cards attract a fee of S$86 each. However, the first two supplementary cards are free.
6. It entitles you to free parking
The tie-up with CapitaLand Malls has allowed American Express to provide its card members with free parking when they go shopping. This facility is available subject to certain conditions.
- You are required to register your car details with American Express.
- You get three hours of free parking at the CapitaLand Mall only if you spend a minimum of S$1,200 per month.
- Certain CapitaLand Malls have “privileged parking lots.” You are eligible to park at these slots provided you use your card for a minimum of S$1,800 every month.
- The free parking facility is not available at ION Orchard and The [email protected]
Who is the Amex CapitaCard for?
This card is aimed at Singaporeans who are regular visitors to the city’s CapitaLand Malls. If you fall in this category, you could accumulate a large sum in STAR$ over the months by using it to make your usual purchases.
The fact that the card is free for the first year and also offers several other benefits makes it a pretty attractive option.
Disclaimer: All credit card information is accurate at time of writing and should only be used as a reference. For the latest promotions, benefits, and terms and conditions, please refer to the respective credit card company websites.