Subscription Modal Banner
Weekly newsletter subscription
Get SingSaver’s top tips and deals, plus an exclusive free guide to investing, sent straight to your inbox.

I agree to the terms and conditions and agree to receive relevant marketing content according to the privacy policy.

Success Tick Icon
Congratulations on successfully joining Singsaver Newsletter

AMEX Excludes GrabPay Top-Ups From Earning Cashback From Certain Cards, Including AMEX True Cashback

Deborah Gan

Deborah Gan

Last updated 20 June, 2023

Is the AMEX True Cashback Card still the go-to for paying insurance premiums through GrabPay? I guess not.

Have you been happily using your AMEX True Cashback Card to top up your GrabPay so you can earn cashback on your insurance premiums? Well, we have bad news for you.

On 1 March 2023, AMEX announced that changes would be made to the list of eligible purchases to earn cashback and miles. This applies to both The AMEX True Cashback Card and The AMEX Singapore Airlines Business Credit Card.

The only key difference between their previous exclusion list is the addition of GrabPay top-ups. This means that you will no longer be able to top-up your GrabPay to earn 1.5% cashback or 1.8 miles for the respective cards.

The new change took effect from 4 April 2023 onwards.

Card
Cashback on GrabPay top-ups before 4 April 2023
Cashback on GrabPay top-ups after 4 April 2023
AMEX True Cashback Credit Card
1.5% cashback
NA
AMEX Singapore Airlines Business Credit Card
1.8 mpd
NA

Do note that the AMEX True Cashback Card still lets you earn cashback on your insurance premiums. It just doesn’t grant you cashback if you are paying for your premiums through GrabPay top-ups, as certain insurers do not allow you to make payments with AMEX.



How can I earn cashback on the AMEX True Cashback Card?

amex-true-cashback

On the bright side, you can still continue to earn up to 1.5% cashback on other eligible purchases:

  • Travel expenses
  • Grocery shopping
  • Online shopping 
  • Large expenses like home improvement
  • Education fees
  • Insurance
  • Healthcare
  • Utilities and Telco

The good thing about this card is that there are no minimum spend and no categories to track to earn cashback. You’re essentially earning cashback on every eligible dollar spent — it’s as simple as that.

What’s more, is that there is also no cap on cashback earned every month. You’ll also be able to get immediate cashback in the same month’s statement. This means you don’t have to wait a full month after making the purchase to enjoy the cashback!

AMEX_TCB_$200Cash_BLOGARTICLE_800x250

⚡Flash Deal⚡: For a limited time only, receive an upsized S$200 Cash via PayNow when you apply for an Amex True Cashback Card and make a min. $500 spend within 1 month of Card approval. Available to new-to-American-Express card members only. Valid until 21 Apr 2024. T&Cs apply.


How can I earn miles on the AMEX Singapore Airlines Business Credit Card?

airlines-business-credit-card

  • Up to 8.5 HighFlyer points per S$1 spent on all eligible Singapore Airlines Group flights
  • 1.8 HighFlyer points per S$1 spent on all other eligible spend

AMEX Singapore Airlines Business Card Welcome Gift: Receive a Samsonite Choca Spinner 68/25 (worth S$700) and 10,800 HighFlyer points when you spend at least S$6,000 in the first 3 months of card approval and pay the annual fee. Valid till 29 May 2024. T&Cs apply.

Also, get up to 68,000 HighFlyer points (worth S$647) when you spend at least S$6,000 within the first 3 months of card approval. Valid till 29 May 2024. T&Cs apply.


What other cards can give me rewards for insurance premium payments?

Don’t get us wrong. If your insurance company allows you to make premium payments with AMEX, the AMEX True Cashback Credit Card will still let you earn 1.5% on your insurance premiums! But for the unlucky ones, we might have to look for alternative cards to earn rewards.


UOB Absolute Cashback Card

uob-absolute-cardface

The UOB Absolute Cashback Card allows you to earn 1.7% cashback on insurance premium payments. But similar to The AMEX True Cashback Card, it only applies if the insurance company accepts AMEX as a payment method.

If you want to top up your Grab mobile wallet, you can only earn 0.3% cashback.

UOB Absolute Cashback Card Welcome Offer: Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmember and make a min. spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 April 2024. T&Cs apply.

Also, get up to 10% cashback (equivalent to S$100) on the first S$1,000 spend within 30 days from card approval date. Valid till 30 April 2024. T&Cs apply.


Maybank Visa Infinite Card

maybankislamicikhwaninfiniteivisa-1

Most Maybank cards have specifically excluded insurance payments in the terms and conditions of their Maybank’s TREATS programme. However, two cards are exceptions.

The great thing about the Maybank Visa Infinite is that it lets you earn 1.2 mpd on insurance transactions (for payments up to S$3,000 per calendar month), which isn’t too shabby.

The only con to it is that it has a hefty minimum income requirement of S$150,000, making it inaccessible for postgraduates and low or middle-income workers.


Maybank Horizon Visa Signature Card

Maybank horizon visa signature best miles card

 

For those who can’t get their hands on the Maybank Visa Infinite, a great alternative is the Maybank Horizon Visa Signature which requires a minimum income of S$30,000 to apply for the card. 

It also earns you 2 mpd on insurance premiums


Standard Chartered Prudential Platinum Card

Standard Chartered Prudential Platinum Credit Card February 2023 Review |  Finder

This little-known card is not widely talked about but it does earn you rewards points on insurance premium payments. The name might make you think that it’s just limited to Prudential insurance products, but the terms and conditions do not exclude other insurers.

You’ll earn 1X points per S$1. The 360° Rewards Points earned on your Prudential Card can also be used to offset premiums on eligible Prudential insurance policies.


Standard Chartered Prudential Visa Signature Card

Standard Chartered Prudential Visa Signature Card February 2023 Review |  Finder SG

Likewise, the same applies for the Standard Chartered Prudential Visa Signature, with a rate of 1.5 360° Rewards Points per S$1 on insurance payments, where 3,500 360° Rewards Points is equivalent to 1,015 KrisFlyer miles.

However, it's useful to note that Standard Chartered Points 360° Rewards Points can no longer be pooled when redeeming KrisFlyer miles, meaning you cannot combine 360° Rewards Points across all of your Standard Chartered cards when redeeming KrisFlyer miles.


KrisFlyer UOB Debit Card

KrisFlyer UOB Debit Card & Account | UOB Singapore

Do note that while the Krisflyer UOB Credit Card doesn’t earn you anything from insurance transactions, the debit card counterpart does, with a rate of 0.4 mpd.

Screen Shot 2023-06-20 at 1.12.59 PM

Source: UOB

If you want to earn bonus miles, you can do so by putting in funds in the account and spending on your credit card. As long as you have a minimum balance of S$1,000 in the account, you’ll earn up to 5 or 6 mpd depending on whether you credit your salary into the account.

 

KrisFlyer UOB Card Welcome Offer: Get up to 31,000 miles plus a first-year annual fee waiver when you are one of the first 100 eligible new-to-UOB credit cardmembers who apply and make a min. spend of S$2,000 within 2 months from card approval date. Valid till 30 April 2024 . T&Cs apply.

 


Is The AMEX True Cashback Card still worth it?

amex-true-cashback

It’s up to you if you use it for other purchases. But honestly, a 1.5% cashback rate is definitely not the highest rate out there.

For example, the UOB Absolute Cashback card allows you to earn up to 1.7% limitless cashback, the Citi Cash Back+ card earns you 1.6% cashback with no cap, while the DBS Live Fresh lets you earn up to 10% cashback with a cashback cap of S$20 for each category.

But as far as it goes, The AMEX True Cashback Card is a true winner for those looking for fuss-free, unlimited cashback on troublesome categories like insurance, healthcare, and bills.

AMEX_TCB_$200Cash_BLOGARTICLE_800x250

⚡Flash Deal⚡: For a limited time only, receive an upsized S$200 Cash via PayNow when you apply for an Amex True Cashback Card and make a min. $500 spend within 1 month of Card approval. Available to new-to-American-Express card members only. Valid until 21 Apr 2024. T&Cs apply.

 

Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.

 

Read these next:
Best Unlimited Cashback Credit Cards in Singapore (2023)
Card Comparison: UOB Absolute Cashback vs Citi Cash Back+ vs SCB Simply Cash
Card Comparison: AMEX True Cashback vs Citi Cash Back+ vs SCB Simply Cash

A mahjong addict with an undying love for dogs, Deborah is always on the hunt for cheap deals because she is always broke. That is why she is attempting to be more financially savvy to be.. less broke

FINANCIAL TIP:

Use a personal loan to consolidate your outstanding debt at a lower interest rate!

Sign up for our newsletter for financial tips, tricks and exclusive information that can be personalised to your preferences!