If you're a high-spender, it's very likely that cashback cards with earning caps are limiting your rewards potential. American Express True Cashback Card is an excellent option that ensures all of your spend earns unlimited rewards. In fact, cardholders earn 1.5% flat rebate on all purchases–boosted to 3% for the first 6 months. This promotion doubles the cashback potential you'd have with similar cards, giving you a head start on earning. What's more, Amex True Cashback Card offers benefits like Global Assist, American Express Selects, and True Cashback promotions, which cover everything from hotel & resort discounts to wedding specials. If you're looking to put your high spend to work and enjoy Amex benefits, this is the card for you.
American Express True Cashback Card Features and Benefits:
- S$30,000 for locals
- S$60,000 for foreigners
- 1.5% unlimited cashback on all spend
- 3% cashback on 1st S$5,000 spend (up to S$150)
- No minimum spend requirement
- Up to 22.2% fuel savings at SPC
- Free travel insurance
- American Express Selects, 24-Hr Customer Care & Global Assist
- Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
- Receive S$20 CapitaVoucher for each of 1st 2 supplementary cards
What Makes American Express True Cashback Card Stand Out
American Express True Cashback Card offers unlimited earning potential with no minimum spend requirement, making it an excellent way for high-spenders to maximise cashback with minimal effort. By offering 1.5% cashback on all spend, local and overseas, cardholders have no need to track spend by categories or merchants and can consolidate their spend onto one card. Even better, new cardholders earn 3% cashback on their 1st S$5,000 spend–equal to S$150–in the 6 months following approval, plus S$60 in CapitaVouchers with their first spend.
While Amex True Cashback Card is easy to use, it’s most likely to benefit only very high spenders. Considering its 1.5% rate, the lack of earnings cap only becomes competitive when spend exceeds S$7,000/month. Consumers with lower spend can earn at much higher rates with capped cards, especially if they have highly specialised spending patterns. Additionally, travellers seeking unlimited rewards may prefer miles-earning cards that tend to come with travel perks.
Approximation of Value-to-Consumer by Spend
|Rewards Rate||S$2,000 Spend||S$7,000 Spend|
|UOB One||5% (max)||S$100 (cap)||S$100 (cap)|
|Amex True Cashback||1.5% (unlimited)||S$30||S$105|
|Citi PremierMiles Visa||1.2mi/S$1 local, 2mi overseas||2,900mi (est S$29)||10,300mi (est S$103)|
Ultimately, Amex True Cashback Card stands out for its convenience and special Amex benefits. The Amex brand is known for its world-class Customer Service and Global Assist programs, plus dining and lifestyle privileges available through American Express Selects. While the card comes with a S$171.2 fee waived just 1 year, consumers continue to benefit from these programs while also enjoying easy cashback on all of their spend.
How Does Amex True Cashback Card’s Rewards Program Work?
Use our quick and easy-to-read guide below to learn how you you can redeem card rewards.
- Every 1 dollar of cashback earned is equal to S$1
- Cashback is credited to the card account the same month in which it’s earned
- Cashback earned by Supplementary Cards is credited to the Primary account
- Cashback is applied to the account as a monthly credit and is not redeemable as cash
- Cashback that has been earned but not yet applied will be forfeited if account is canceled
Amex True Cashback Card Rewards Exclusions
Some credit card expenditures are ineligible for earning rewards. We identify these exclusions below.
How does Amex True Cashback Card Compare Against Other Cards?
Read our comparisons of Amex True Cashback Card with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.
Amex True Cashback Card v. Standard Chartered Unlimited Cashback Card
Standard Chartered Unlimited Cashback Card also offers unlimited 1.5% flat cashback with no minimum spend and is best suited for high-spenders. However, it stands apart from Amex True Cashback Card by offering transport benefits like EZ-Link functionality and up to 21% fuel savings at Caltex. The S$192.6 fee is high but is waived 2 years. High-spending commuters may prefer SC Unlimited Cashback Card, but Amex loyalists may still prefer Amex True Cashback Card.
Amex True Cashback Card v. Maybank FC Barcelona Card
Maybank FC Barcelona Card offers unlimited 1.6% flat cashback, on local spend only. Overseas spend earns the equivalent of just 0.8%, so this card is best for affluent local spenders. Cardholders are also eligible for special football perks like free ticket sweepstakes and up to 10% discounts at official FC Barcelona stores. Because of the higher local flat rate, infrequent travellers with high spend, especially football fans, might be better off with Maybank FC Barcelona Card.
Amex True Cashback Card v. UOB One Card
UOB One Card rewards consistent spend through a tiered quarterly rebate system, offering average spenders with S$2,000/month budgets to earn up to S$1,200/year (equal to 5% flat cashback). Lower and infrequent spenders earn at just 3.33%, capped at S$50/quarter for budgets of at least S$500/month or S$100/quarter for at least S$1,000/month. These are top market rates for a flat cashback card, but the earning caps may limit higher spenders, who may instead consider Amex True Cashback Card.
Amex True Cashback Card v. DBS Altitude Card
DBS Altitude Card offers unlimited 1.2 miles per S$1 local spend, 2 miles overseas, and 3 miles for online travel bookings–roughly equivalent to 1.2%, 2%, and 3% cashback in value-to-consumer. Cardholders also receive travel perks like 2 free airport lounge access vouchers and free travel insurance. The S$192.6 fee is waived with S$25,000 annual spend, making DBS Altitude Card a great no-fee, miles-earning alternative for travellers seeking easy rewards. For higher spenders preferring cashback, Amex True Cashback may be a better option.