American Express True Cashback Credit Card

Name: American Express True Cashback Credit Card
Brand: American Express
Rating: 4.6 (1 reviews)

Receive S$150 eCapitaVouchers with min. spending of S$500 within first month of Card approval if you are new to American Express. Terms and Conditions apply.
Earn 1.5% cashback on all eligible purchases in the same month without a minimum spend or earning cap.
Annual fee waived in the first year, reverting to $174.40 p.a.
Save on wedding packages and get curated American Express True Cashback Card Offers on retail, travel, dining and entertainment.

Pros and cons

Earn 3% cashback on all eligible purchases in the first 6 months for new Card Members (up to S$5,000 spend).
First 2 supplementary cards are free.
Includes travel inconvenience and travel accident insurance.
Fraud protection.

The minimum annual income of $30,000 for citizens/PRs or $45,000 for foreigners.
The principal card is free for the 1st year but costs $174.40 per year after.
A late payment charge of $100 if you don't pay the minimum monthly payment — higher of 3% or $50 — in full.
No balance transfer offer.

Additional cardholders. Add up to two complimentary additional cards. Further additional cards cost $86.40 p.a. each. This may work out to your benefit if you can add more heavy spenders.
Digital wallets. This card lets you make payments with Apple Pay, Google Pay, and Samsung Pay.
Gambling transactions. American Express prohibits all gambling-related transactions.

Complimentary travel insurance. The American Express True Cashback Credit Card provides complimentary travel insurance. Coverage is in effect when used to purchase tickets for the trip. Terms and conditions apply.
Concierge services. Cardholders do not have access to the Amex concierge service.
Insurances. This card comes with fraud protection and purchase protection insurance.
Rewards points. Earn a flat 1.5% cashback on all eligible purchases, with no minimum spend or limits on how much can be earned. Immediate cashback is credited to your account each month.
Sign up bonus. New American Express cardholders can enjoy a signup perk of S$150 eCapitaVouchers by spending a minimum of S$500 within the initial month of card approval. Certain terms and conditions apply.

Annual fee. This card has an annual fee of $174.40 p.a. with a first-year fee waiver.
Balance transfers. This card does not offer any balance transfer facilities.
Cash advances. All cash advances made with this card are subject to a 26.90% p.a. interest rate, applied immediately. American Express will charge a 5.00% fee separately to interest.
Foreign exchange fee. All transactions made in foreign currency, either online or overseas, will incur a one-off 2.95% fee.
Interest-free period. Get up to 22 days interest-free on purchases when you have paid your previous balance in full or made the minimum required payment.
Purchases. With no introductory offer on purchases, the 26.90% p.a. rate ongoing will apply for any purchases not paid in full. You get charged the penal rate of 26.99% p.a. if your card had 3 or more defaults within the past 12 months.