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American Express True Cashback Credit Card

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

Earn 3% cashback on your first S$5,000 spend in the first 6 months—up to S$150 back.
Get unlimited 1.5% cashback on all eligible purchases with no minimum spend.
Skip the annual fee in the first year; it’s S$174.40 from year two onwards.
Enjoy curated perks on weddings, travel, dining, and retail with exclusive True Cashback Card offers

Pros and cons

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 $87.20 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. Apply and get approved to earn up to S$150 cashback. Get 3% cashback on your first S$5,000 spent in the first 6 months.

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 on interest.
Foreign exchange fee. A one-off 2.95% fee will be charged for all transactions made in foreign currency, either online or overseas.
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 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.