|Summary of Product|
Headline Cashback Rate: 1.5%
Minimum Monthly spend: NIL
Income Requirement: $30,000 (Singaporeans/PR), $60,000 (Foreigners)
Minimum Age: 21
Annual Fee (Waiver): $171.20 (First year waived)
Sign-up promotion: Yes ($80 cash via PayNow when you spend $500 in your first month upon approval).
Table of Content
Why should you choose American Express True credit card
How much is your average monthly spending?What makes American Express True Cashback card stand out is that it neither has a minimum monthly spend nor complicated requirements to qualify for your cashback. You earn cashback on every eligible dollar spent, both local and overseas. That makes it a compelling card to have because of the simplicity of the cashback you’re going to receive when you receive your statement.
Do you have upcoming spends on big ticket items?It may make sense to use a card like the American Express True Cashback Card when you have an upcoming large spend, and the unlimited cashback works in your favor, as you’re not limited to any cashback cap. What’s more, receive the cashback within the same month’s statement as your purchases. As a welcome cashback bonus, the American Express True Cashback Card rewards you with 3% cashback on all purchases with your first $5,000 spend within 6 months, followed by the base 1.5% cashback thereafter. (Terms and Conditions Apply)
Enjoy freedom on your spend, no matter the categoryWhile other cashback cards cap the amount of cashback you can earn from certain categories, the American Express True Cashback Card gives you the freedom of choice on where to spend since there are no categories, and no cap within each category. Use your American Express True Cashback Card as a fuss-free card! What's more, earn up to 2.5% cashback (1.5% cashback + additional 1%) on foreign currency spend with no minimum spend and no earn cap. (Registration is required, and other terms and conditions apply.)
Do you spend regularly on dining, entertainment and travel?Enjoy carefully selected offers from American Express’ retail, travel and dining partners with the American Express True Cashback Card, great for those who love a good deal, or those looking to celebrate a special occasion. Some benefits include 10% savings on Expedia Rate hotel bookings, discounts off movie tickets, and 15% savings at Bloomingdale’s.
Using the American Express True credit card in your favour
Who can apply?
|Age Eligibility||At least 21 years of age|
|Income Eligibility||Singaporeans/PRs: $30,000 of annual income Foreigners: $60,000 of annual income|
Charges or fees you should be aware of
|Annual Fees||$171.20 (First year waived)|
|Late Payment Charge||$90|
|Interest on Purchases||25.9% per annum subjected to compounding if full payment is not made by payment due date|
|Interest on Cash Advance||25.9% per annum compounded daily on the amount withdrawn from the transaction date until the date that full payment is made|
How to apply?
- Front and back of NRIC/Passport/Employment Pass
- For salaried employees,
- Past 12 months' CPF statement (if Singaporean/PR); OR
- Latest Income Tax Notice of Assessment and latest original computerised payslip
- For self-employed,
- Latest Income Tax Notice of Assessment.