American Express True Cashback Card: Maximize Cashback Dollars

American Express True Cashback Card: Maximize Cashback Dollars

Unlimited 1.5% flat-rate cashback card.

Good for

  • People who want an easy cashback card to use without minimum spending requirements or maximum rebate cap.
  • People who value American Express's services and deals
  • Affluent consumers who spend significantly more than S$2,000 a month given its unlimited cash rebate

Bad for

  • Average consumers who spend less than S$4,000-$5,000 per month
  • Those who care less about Amex's brand can find better deals else where.

Editor's Rating


Flat rate cards are great because they reduce complexity of keeping track of which cards to use for which type of expenditures. With a decent flat rate card, you no longer have to carry with you a wallet bloated with multitudes of credit cards or worry about a slew of monthly bills and monthly minimum spends to take care of. If you are looking for such a card, American Express True Cashback Card could be a great option to consider. It has a flat rate of 1.5% cashback on everything, and boasts a boost of 3% cashback during the first 6 months. It is also one of few rare cards that has no cap on amount of cashback you can earn with no monthly spend requirement. As long as you keep spending, you can earn as much cashback as you want could possibly get your hands on.

Pros of American Express True Cashback Credit Card

  • 1.5% cashback on everything
  • No cap on cashback
  • No monthly spend requirement
  • Promotion: 3% cashback rewards rate boost for the first 6 months for up to S$5,000 of spend

Cons of American Express True Cashback Credit Card

  • Annual fee of S$171.2, waived for the 1st year
  • 1.5% cashback on everything is lower than what you could earn on UOB One.
  • Requires a lot of monthly spend (above S$5,000) to truly maximize benefit

What sets the American Express True Cashback Credit Card Apart?

It’s not easy to manage a wallet filled with multiple credit cards with different monthly spend requirements & rewards rates. If you are looking for easy ways to simplify your monthly bills with just one card, we highly recommend that you consider getting an American Express True Cashback Card. With the card offering 1.5% back across all purchases, American Express True Cashback Card rivals the highest flat rate cash back card available. This bodes as good news for consumers who are looking for high rewards that are also easy to use. With a rewards rate of 1.5%, the Citi American Express True Cashback Card will have a higher flat cash back rate than the popular ANZ Optimum World Mastercard or the CIMB Visa Infinite Card.

Not only that, American Express True Cashback Card does not have any monthly spending requirement or cap on maximum cashback you can ultimately earn, which makes this card one of the easiest and most convenient cards to use in the market. If you spend enough, not many other cards will earn you more cashback dollars. Since there’s no cap on how much rebate you can earn, the American Express True Cashback Card could easily earn more than maximum S$50 to S$80 per month of cashback other cards offer if you spend more than S$5,300 a month. Cardholders who have spending patterns more heavily focused in areas like travel or dining may find some other alternatives like Citibank Cashback Card more attractive, but for anyone with a broad expenses & too much things to worry about besides meeting their cards’ monthly spending limits, the American Express True Cashback Card is worthy of a first look. 

Another plus for American Express True Cashback Card is the 3% cashback boost on your spend for the first 6 months of your card membership, up to S$5,000 of spend. This basically doubles the money you can earn from S$75 to S$150, if you spend S$5,000 in the first 6 months. Depending on what you like to spend your money on, that could be another S$75 to spend on a free fine dining experience, 5 more meals at McDonalds, or 5 more Uber rides. 

As if all this free money they are giving you is not enough, the American Express True Cashback Card allows you to participate in American Express privileges. You get complimentary Travel Insurance, access to American Express Selects where you can enjoy discounts and special deals in hundreds of restaurants and bars. All of these benefits come at a very market competitive annual fee of S$171.2, which is waived for the 1st year, and an annual salary requirement of S$30,000 (S$60,000 for foreigners). If you are looking for an easy to use, no frills but high earning cashback card to use in Singapore, we highly recommend considering the American Express True Cashback Card.

American Express True Cashback Card's Features and Benefits:

  • Annual fee: S$171.2, waived for the 1st year
  • Salary requirement: S$30,000 for Singapore citizens & permanent residents, S$60,000 for foreigners
  • 1.5% flat cashback rate for all your spend
  • No monthly spend requirement
  • No cashback cap
  • Extra savings on your online travel bookings on and of up to 14%
  • Promotion: 3% cashback rewards rate boost for the first 6 months for up to S$5,000 of spend

How does the American Express True Cashback Card Compare Against Other Cards?

Compare Amex True Cashback card with other cards in the market and learn how they are different. We assess this card's strengths and weaknesses against those of similar cards to help you evaluate which card is best for you.

A graph displaying how American Express True Cashback Card compares to other credit cards in Singapore in terms of their rewards
American Express True Cashback Card vs Other Cards by Dollar Value*

Amex True Cashback vs UOB One

UOB One Card

UOB One Card is another one of our favorite flat rate cashback cards in Singapore. While it’s rather complicated to use, it could earn up to 5% of cashback on your expenses if used properly. This is how it works. For a monthly minimum spend of S$2,000, UOB One rewards S$300 of quarterly rebate. For monthly minimum spend of S$1,000 or S$500, it will award S$100 and S$50 of quarterly rebate, respectively. If you spend more than that in any given month, however, you do not get any more rebate. Hence, for people who are willing to take the time to painstakingly manage their credit card bills to spend just such amount every month, we would recommend choosing UOB One card instead.

Amex True Cashback vs Standard Chartered Manhattan World

We think American Express True Cashback card is a much better flat rate card than Standard Chartered Manhattan World MasterCard Credit Card. On the surface, SC Manhattan World card may seem to be the better offer. SC Manhattan World card offers a S$138 of welcome gift. Standard Chartered Manhattan World card offers a 3% flat rebate on everything for an annual fee of S$180 (waived for the 1st year). However, the devil is in the details. The SC Manhattan World card requires a minimum spend of S$3,000 a month to qualify for 3%, and then imposes a S$200 cap on quarterly rebate. If you spend below that amount, you only receive 1% (and possibly lower if spend less than S$1,000). This effectively implies that the maximum rebate you can earn is 2.5% on S$8,000 of quarterly spend.

Compared to this, American Express True Cashback has no minimum spend, making the card one of the easiest to use in Singapore. It also offers 1.5% cashback on everything no matter how much or little money you spend. Not only that, Amex True Cashback will match SC Manhattan World’s 3% flat rate for the first 6 months. Hence, American Express True Cashback is actually the better card if you are spending less than S$2,000 a month. If you are spending more than S$2,000, there is an even better card called UOB One card that could yield up to 5% of rebate on all your purchases. 

Amex True Cashback vs ANZ Optimum World

ANZ Optimum World MasterCard Credit Card

If you are looking for a card to complement your other cards to maximize cashback on everything you could ever spend your money on, look no further then ANZ Optimum World MasterCard card. This seems to be the only card that allows the customer to choose a category they want to maximize rebates on every quarter. You get four options to choose from, dining & leisure, travel, shopping and groceries. When you designate your category, ANZ Optimum provides 5% cashback on that category for 3 months. While every other expenditure will only yield 1% rebate (lower than Amex’s 1.5% flat rate), ANZ Optimum could be a nice complement to cards like OCBC 365 Card or Standard Chartered SingPost Platinum Visa Card that offer extremely high rebates only in a few categories in which they excel.

*ValueChampion calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValueChampion's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

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