• American Express Rewards Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Promotions

    • Cardholders get a joining bonus of 24,000 rewards points when they charge a minimum of S$1500 to the card within the first three months of receiving the card.
    • Cardholders can avail Studio Superior Room for weekend stays at Capri by Fraser at Changi city, Singapore for S$188 per night. This stay is inclusive of breakfast for 2 persons. This offer is valid for bookings till 31st March 2017 and valid for a stay period up to 30th April 2017. The offer cannot be leveraged on 31st December 2016. The bookings are to be made in advance.
    • Cardholders can avail a savings of up to 15% on the best flexible rates when booking stay at Grand Park City Hall. This is inclusive of complimentary Wi-Fi. Cardholders can also get up to 20% savings on their food and beverage bills. The booking period on this offer is valid till 31st March 2017 and the stay period is valid till 30th April 2017. The blackout period on this offer is between 30th December 2016 and 2nd January 2017. All bookings must be made in advance.
    • Cardholders using their American Express Rewards card to shop at Alexander Wang can get a discount of up to 10% on regular priced items. The offer is valid till 31st March 2017.

    American Express rewards Credit Card

    The American Express Rewards credit card as the name suggests is a rewards card that allows cardholders to earn more reward points at up to 5 select outlets of their choice. The card also earns 1 reward point for every S$1 charged to it and comes with attractive joining bonuses that allow the cardholders to reap reward points. These reward points can be redeemed for exciting deals and discounts on everything ranging from dining to shopping to travel and can be even redeemed for cashback.

    Benefits

    • The card earns reward points at the rate of 1 reward point for every S$1 charged to the card. These points never expire and can be collected to redeem for exciting gifts, vouchers or even cashback. Cashback can be redeemed at the rate of S$10 for 2100 points.
    • The reward points can also be converted into frequent flyer miles that can be used at over 40 different airlines across the world.
    • Cardholders can increase the reward points earned at 5 locations of their choosing. These can be locations frequented by the cardholder such as their favourite restaurant or supermarket. The choice of 5 locations can be made from a list of over 150 locations.
    • Cardholders can also avail an additional 50% bonus points on the first S$5000 charged to the card as well as avail a joining bonus of 24,000 rewards points provided they charge a minimum of S$1500 within three months of receiving the card.
    • Cardholders can avail savings of up to 10% when booking hotel accommodations from Expedia valid till 31st December 2016.
    • Cardholders also get access to American Express Selects which provides exclusive discounts on dining, shopping and travel expenses.
    • Cardholders get access to the American Express Global Dining Program which provides exciting dining offers at restaurants around the globe.

    Insurance

    Cardholders can shop in peace with the protection plans offered by the American Express Rewards card. The card comes with a 90 day purchase protection plan as well as a 90 days return guarantee. Online shopping is also made safer secure with the online fraud protection service along with added security measures such as instant SMS alerts on every transaction made using the card.

    Fees and Charges

    Type of fee Amount payable
    Annual fee The fee for the principal card is S$53.50 per annum.
    Supplementary card fee Cardholders can avail the first two supplementary cards with a lifetime waiver on annual fees. Any subsequent supplementary cards availed by cardholder charges an annual fee of S$16.05.
    Interest rate The interest rate charged on the card is 24.9% per annum and is calculated on a daily basis if full payment of outstanding balances is not made within specified due date. An increased rate of 29.99% is charged for defaulters.
    Late payment charges A fee of S$60 is charged for late payment.
    Cash advance fee The fee of 5% of the withdrawn amount is charged for cash advances.

    Transactions in foreign Currencies

    Any transaction made in foreign currencies are first converted into US Dollars and then into Singaporean Dollars. The rate of exchange applied will be the prevailing rate at the time of posting and not at the time of transaction. The commission charged for such conversions amounts to 2.5% of the converted Singaporean Dollar amount. If any third party is converting the charges before handing it over to American Express, then an additional conversion fee is charged with a rate selected by the third party in charge of the initial conversion.

    How to apply for American Express Rewards Credit Card

    Candidates can visit their nearest American Express branch with the supporting income documents and apply for the card. They can also apply for the card online. The application process would not take more than 10 to 15 minutes and cardholders will need to submit their income documents online.

    Eligibility Criteria

    • The primary cardholder must have attained the age of 21 years or above at the time of application.
    • Supplementary cardholders require a minimum age of 18 years.
    • The minimum annual income requirement for Singaporean Nationals or Permanent Residents is S$30,000.
    • The minimum annual income requirement for Foreign applicants is S$60,000.

    Documents required

    Applicants need to submit the following documents during time of application.

    • Salaried applicants
      • Copy of NRIC, both front and back.
      • Latest income tax notice assessment along with latest copy of payslip or
      • A copy of the computerised payslips dating back 3 months.
    • Foreign applicants
      • Copy of the passport.
      • Copy of the employment pass.
      • Copy of any utility bill to serve as address proof.
      • 3 months’ computerised payslips or
      • Latest payslip along with latest income tax notice of assessment.
    • Self-employed applicants
      • Notice of income tax assessment dating back 2 years.
      • Copy of NRIC, both front and back.

    Interest on American Express Rewards Credit Card

    The interest rate charged on the American Express Rewards card amounts to 24.99% per annum which is subject to compounding if the cardholder does not make full payment of the dues by the specified due date. Defaulters are charged an increased rate of 29.99% per annum if they have defaulted three or more times or if they have failed to pay off a single default for over two months. Interest rates are subject to change as per discretion of the bank and cardholders must check with American Express for the prevailing rates of interest.

    Repayments

    Cardholders need to make minimum monthly payments on their credit card which amounts to either 3% of the outstanding balance of the credit card plus any previous outstanding minimum payment dues or S$50, whichever is higher. Failure to do so will result in a late payment fee and repeated defaults or missed minimum monthly payments will result in an increase of the interest charged on the card.

    Reporting lost/Stolen credit cards

    Cardholders should notify American Express immediately upon discovering that their card has either been lost or stolen. Cardholders can notify American Express by calling on their 24 hour helpline. Provided American Express is satisfied with speed of notification and that it was not sheer negligence on the part of the cardholder that caused the loss or theft of the card, the liability of the cardholder against any unauthorized transaction made using the card will be limited to S$100.

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