American Express Platinum Credit Card

The basics

• Additional cardholders. Fees on the first 2 supplementary cards to be added are waived permanently. Any other cards added to the account cost $162 p.a. per card. Any Membership Rewards points earned will accrue under the primary cardholder's account.
• Digital wallets. This card can be used with Apple Pay, Google Pay, and Samsung Pay.
• Gambling transactions. Any transactions related to gambling are prohibited.

Rewards and benefits

• Complimentary travel insurance. The American Express Platinum Credit Card comes with complimentary international travel insurance when the card is used to pay for eligible travel expenses. Eligibility criteria apply.
• Concierge services. Cardholders have access to the concierge service, available 24/7 from anywhere in the world. Although overlooked, the concierge can be very helpful with organising restaurant reservations, travel planning, gift delivery, and other time-consuming tasks.
• Insurances. Cardholders get fraud protection as standard. But in addition, there is refund protection insurance, which covers refunds up to $800 when the store does not accept a return (limited to stores located in Singapore), plus 90 days of purchase protection against accidental damage or theft (up to $10,000 when purchased with the card).
• Rewards points. Earn 2 Membership Rewards points per $1.60 spent and 10 Membership Rewards points per $1.60 spent at Platinum 10Xcelerator Partners like Laneige and The Hour Glass. Membership Rewards points, being transferable to several partner rewards programs, are extremely versatile. Points can be transferred to Cathay Asia Miles, British Airways Executive Club, China Airlines Dynasty Flyer, Emirates Skywards, EVA Air Infinity MileageLands, Malaysia Airlines Enrich, Qantas Frequent Flyer, Singapore Airlines HighFlyer and KrisFlyer, and Thai Royal Orchid Plus.
• Sign up bonus. New American Express card members receive up to 33,750 Membership Rewards points after the annual fee has been paid and a minimum of $3,000 spent within the first 3 months. Existing American Express Card members are entitled to 19,750 Membership Rewards on the same terms. The bonus will be credited to your account within 8-12 weeks after you reach the required spend.

Rates and fees

• Annual fee. The annual fee for this card is $324 p.a. This is cheap in comparison to what Amex charges for the Platinum Card in other markets.
• Balance transfers. There is currently no balance transfer offer for this card.
• Cash advances. With the American Express Platinum Credit Card, cash advances are subject to an interest rate of 26.90% p.a. This rate will take effect from the transaction date with no interest-free days. There's an additional 5% fee.
• Foreign exchange fee. There's a 2.95% fee for online or overseas purchases in a foreign currency.
• Interest-free period. Get up to 22 days interest-free on purchases when you pay your balance in full each month or make the minimum required payment.
• Purchases. It's 26.90% p.a. ongoing for unpaid purchases carried over to the following statement period. Despite it's premium appeal, this rate is average for Singapore.