Here’s Why You Must Get the Amex Platinum Credit Card
In the highly competitive credit card market in Singapore, American Express cards stand out for having the best features and generous rewards programs. The American Express Platinum Credit Card is no exception to this rule.
When your card application is approved, you become eligible to receive several high-value gifts and benefits. In addition to this, every time you use your card, you earn rewards points that can add up to a significant amount over the months.
There are also several partnerships that the bank has entered into with various organisations in Singapore. These tie-ups provide great advantages for card members.
Here are some of the reasons why you should consider getting an American Express Platinum Credit Card.
Earn valuable gifts right away
Upon your credit card being approved, you will receive a Bang & Olufsen Play H5. These wireless earphones offer five hours of playtime and are worth S$379. B&O is a Danish consumer electronics company that has a reputation for manufacturing high-quality audio products.
Card members are eligible for two more benefits when they get a new card. By spending S$5,000 within the first six months of getting your American Express Platinum Credit Card, you earn a stay of two days and one night in Dorsett Singapore. This free stay is worth S$506. The 10-storey hotel located on New Bridge Road is near the Outram Park MRT and has a well-earned reputation for excellent service and top-of-the-line in-house facilities.
If you spend an additional S$2,500 within six months of your Platinum card getting approved, you will receive a Samsonite Sigma 76Cm Expandable Spinner.
To earn the free stay at Dorsett Singapore and also get the Spinner from Samsonite, you need to spend a minimum of S$7,500 within the first six months. Even if you don’t meet this threshold of S$5,000/S$7,500, you will still receive the B&O wireless earphones.
Accelerated Rewards for Amex Platinum card members
Every time you use your <American Express Platinum Credit Card, you earn two Membership Rewards points for every S$1.60 that you spend. What do these points get you? Here is a representative list:
- 11,100 points get you an IKEA voucher worth S$50
- 9,400 points get you a S$50 voucher from Ladurée Singapore
- You can earn a S$50 voucher to be used at Lawry’s The Prime Rib Singapore, for 10,000 points
As a holder of the American Express Platinum Credit Card, you are eligible to earn 10 points instead of the regular two points, for every S$1.60 that you spend at certain retail outlets that the bank has tied up with. The list of places where you can earn five times the usual number of points includes American Tourister, Goldheart Jewellery, Lee Hwa Jewellery, Samsonite, and Watches of Switzerland.
The complete list of of organisations that American Express has partnered with for the enhanced points program is available here.
Unlike other banks, Amex rewards points do not expire. They are valid for an indefinite period of time. Of course, your account with the bank must remain in good standing. If you fail to make the minimum payment that is due on your card, your points will be forfeited.
A chance to win a pair of business class tickets
American Express is running a promotion jointly with Singapore Airlines that offers its Platinum cardholders the opportunity to fly to several overseas destinations. The program, which runs for a year, started in April 2017.
When your new American Express Platinum Credit Card is approved, you will get 10 chances to win the monthly tickets. Every time that you use your card, you increase the probability of getting the tickets. An expenditure of S$50 gets you one additional chance to win. S$50 spent overseas gets you two chances.
The program has already run for three months. The destinations for which tickets remain to be awarded are:
|Qualifying period||1 pair of business class tickets to|
|1 to 31 July 2017||Denpasar (Bali)|
|1 to 31 August 2017||Cape Town|
|1 to 30 September 2017||Hong Kong|
|1 to 31 October 2017||Sydney|
|1 to 30 November 2017||Osaka|
|1 to 31 December 2017||New York|
|1 to 31 January 2018||Seoul|
|1 to 28 February 2018||Milan|
|1 to 31 March 2017||Barcelona|
Large discounts at the best restaurants
Platinum card members are eligible to get a rebate of up to 50% on their bills at selected 5 star hotels in Singapore. You are entitled to receive a complimentary The Far Card Classic membership. This entitles you to discounts ranging from 10% to 50% on your bill at some of the best restaurants in the city.
If you are dining alone, you get 10% off, while eating out with a guest gets you a discount of 50%. This membership of “The Far Card” costs S$425, but as an American Express Platinum Credit Cardholder, you get it free.
Addressing the upper end of the market
The American Express Platinum Credit Card is not for everyone. To be eligible for this card, you need to earn at least S$50,000 per year (S$60,000 for expats.) This is significantly higher than the minimum income required for many other cards.
Additionally, at S$321, the annual card fee is quite steep. However, this disadvantage is partly made up by the fact that the supplementary card fee of S$160.50 is permanently waived for the first two supplementary cards. If you want to provide supplementary cards to your family members, this benefit can save you some money.
The relatively high cost of the American Express Platinum Credit Card is more than made up for by the privileges and benefits that cardholders are entitled to. If you can afford the annual fees and meet the eligibility norms, this is one card that you must get.
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 companies’ websites.