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    American Express Platinum Reserve Credit Card Review

    Promotions

    • Enjoy savings of up to 50% all through the year at over 60 dining establishments with the American Express Love Dining Privileges. Also enjoy a complimentary glass of wine at 4 selected dining establishments in Singapore.
    • Earn up to 10 membership points for every S$1.60 you spend using your American Express Platinum Reserve Credit Card at participating merchants.
    • Enjoy a complimentary 1-night’s stay at Capri every year.
    • Get staycation vouchers at some of Singapore’s most popular hotels and make your holidays as eventful as they can be!
    • Save 10% on Expedia Rate Hotel Bookings when you book reservations using your American Express Platinum Reserve Credit Card.

    The American Express Platinum Reserve Credit Card

    The American Express Platinum comes with scores of benefits and privileges ranging from discounts at posh hotels and restaurants across Singapore to golfing and other privileges. Let us take a look at the benefits, key features and rewards offered by the American Express Platinum Reserve Credit Card.

    Joining Benefits/Perks

    Get up to 50,000 membership points when you use your American Express Platinum Reserve Credit Card to spend a minimum of S$5,000 within the first 6 months of your membership.

    Features of the American Express Platinum Reserve Credit Card

    • The annual fees for the first 2 supplementary cards is waived.
    • The American Express Platinum Reserve Credit Card is compatible for use with Apple Pay.
    • The card can be used to make cash withdrawals in ATMS across the globe.
    • The American Express Platinum Reserve Credit Card is protected against theft or accidental damage.
    • Get a return guarantee from American Express when you return a legitimate item within 90 days of your purchase.

    Rewards

    • Earn 2 reward points for every S$1.60 that you spend on purchases made using your card.
    • Accumulate enough reward points and redeem them for over 200 rewards from the Membership Rewards Catalogue.

    Benefits of the American Express Platinum Reserve Credit Card

    • Enjoy exclusive savings on weekend staycations if you are an American Express Platinum Reserve Credit Card member.
    • Get The Far Card Classic Membership that allows you to pick 10 fine restaurants of your choice and entitles you to exclusive savings with no cap on the number of visits.
    • Get complimentary drinks at top bars across Singapore.
    • Get access to golfing privileges at 40 of Singapore’s Golf and Country Clubs.
    • Receive discounts of up to 40% on a la carte services at The Ultimate and Adeva Spa besides receiving spa vouchers at Spa Rael, RN Spa, The Ultimate Auriga Spa and Adeva Spa.
    • Get complimentary Wi-Fi access at hotspots in Singapore and over 100 countries across the globe.
    • Get 24-hour Concierge services that will assist you with information regarding reservations, flight schedules, recommendations, appointments and more.

    Insurance provided by the card

    Cardmembers get a complimentary travel inconvenience and travel accident coverage when ticket reservations are made using the American Express Platinum Reserve Credit Card.

    Fee and charges

    Type of fee Amount payable
    Annual fee S$535
    Supplementary card fee S$160.5
    Interest rate 24.99% p.a.
    Late payment charges S$60
    Cash advance fee 5% of the withdrawn amount
    Interest on cash advance 24.99%

    Transactions in foreign currencies

    Transactions performed using American Express cards in foreign currencies will be charged an administrative fee of 2.5%. All foreign currencies are first converted to USD before being converted to SGD and charged.

    Cash withdrawals

    Cash withdrawals can be made using the American Express Platinum Reserve Credit Card in ATMs across the globe. The interest charges on cash withdrawals is 24.99% of the withdrawn amount. Besides, an additional charge of 5% of the amount withdrawn is levied as cash advance handling fees.

    How to apply for the American Express Platinum Reserve Credit Card

    • You can apply for the American Express Platinum Reserve Card by visiting the official American Express website and filling out the application form. After details are filled out, your application will be processed by the bank following which an executive from the bank will get in touch with you if any further details are required. Your application will then be approved subject to meeting the eligibility criteria.
    • You can also take the offline route to apply for the American Express Platinum Reserve Card by visiting any American Express branch in Singapore and filling the application at the branch.

    Eligibility criteria for the American Express Platinum Reserve Credit Card

    • Minimum age: 21 years of age
    • Minimum income:
      • Singaporeans & permanent residents: S$150,000 p.a.
      • Foreigners: S$150,000 p.a.

    Documents required

    • Salaried individuals:
      • Copy of NRIC/Passport, CPF contribution history over 2 years, Notice of Income Tax Assessment, latest computerized payslips.
    • Self-employed individuals:
      • Copy of NRIC/Passport, CPF statement for the last 2 years, Income Tax Notice of Assessment, last 3-months bank statements.
    • Individuals with varied income:
      • Proof of income, bank statement for the last 3 months, Copy of NRIC/Passport, Notice of Income Tax Assessment.
    • Foreigners:
      • Copy of Passport, Employment letter obtained from employer, Employment Pass, latest computerized payslip.
    • Supplementary card applicant:
      • Minimum 18 years of age.

    Interest on the American Express Platinum Reserve Card

    The interest rate on the American Express Platinum Reserve Credit Card is 24.99%.

    Repayments

    • Cardmembers are required to make a minimum payment of 3% of the monthly outstanding + overdue outstanding amounts from previous minimum monthly payments + any amount that exceeds the credit limit.
    • A late payment fee of S$60 is levied if payments are not made before the due date. Usually, an interest free period lasting 23 days from the release of the statement is made available to customers if the amount is paid in full.

    Lost/stolen card liability

    The liability for lost/stolen cards is usually S$100. However, if any illicit transaction takes place without the knowledge of the customer before the bank is informed about the loss/theft, the liability can increase and the customer can be held accountable if he/she has acted in gross negligence. Banks usually investigate cases of lost/stolen cards quite seriously and decide on the liability after a thorough evaluation.

    Reporting lost/stolen credit cards

    Lost/stolen cards can be reported to the bank by contacting the bank’s Customer Service Centre number. In some cases, banks will require customers to lodge a complaint with the local police stating loss/theft of the card.

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