For the true cashback lovers. Enjoy 1.5% cashback on all spends with no minimum spend and no cashback cap. To top it off, receive your cashback in the same month’s statement.

The American Express (AMEX) True Cashback Card is a no-brainer when it comes to cashback, giving what is due when due. Unlike most cashback cards that reward you with your cashback in the following month, the AMEX True Cashback card gives immediate cashback in the same month’s statement.

While it offers a modest cashback rate of 1.5%, you’ll be glad to know that there is no minimum spend required and no cap on the cashback you can earn. 

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What the AMEX True Cashback credit card can do for you” data-reactid=”23″>What the AMEX True Cashback credit card can do for you

AMEX True Cashback card product summary:

  • Headline Cashback Rate: 1.5%
  • Minimum monthly spend: No minimum spend required
  • Income requirement: $30,000 (Singaporeans/PR), $60,000 (Foreigners)
  • Annual fee: $171.20 (First year waived)
Pros Cons
No minimum spend and no cashback cap Relatively low cashback rate of 1.5%
Immediate cashback in the same month’s statement Bonus 3% cashback only applicable for up to $5,000 spend
Welcome bonus of 3% cashback on up to total of $5,000 spend in first 6 months Registration required for additional 1% cashback on foreign currency spending

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Why should you choose the Amex True Cashback card?” data-reactid=”32″>Why should you choose the Amex True Cashback card?

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="#1: No minimum spend required and no hoops to jump through” data-reactid=”33″>#1: No minimum spend required and no hoops to jump through

What makes AMEX True Cashback card stand out is that it has neither 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 earning.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="#2: Spend (and save) big with no cashback cap” data-reactid=”35″>#2: Spend (and save) big with no cashback cap

It could make sense to use a card like the AMEX True Cashback Card when you have a large expense looming in the near future. The unlimited cashback you can earn works in your favour, as you’re not limited by any cap – you could be looking at hundreds of dollars of ‘free discount’ depending on what big ticket item you’re buying. What’s more, receive the cashback within the same month’s statement as your purchases. 

As a welcome bonus, the AMEX True Cashback Card rewards you with 3% cashback on all purchases with your first $5,000 spent within the first 6 months, followed by the base 1.5% cashback thereafter. So, be sure to make good use of that first 6 ‘honeymoon’ months.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="#3: Chance to earn additional 1% cashback on select spending&nbsp;” data-reactid=”38″>#3: Chance to earn additional 1% cashback on select spending 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Earn up to 2.5% cashback (1.5% cashback + additional 1%) on foreign currency spend with no minimum spend and no earn cap. Annual registration is required to earn this additional 1% cashback. This cashback will be awarded on top of the 3% welcome bonus or the usual 1.5% cashback. Terms and conditions apply.&nbsp;” data-reactid=”39″>Earn up to 2.5% cashback (1.5% cashback + additional 1%) on foreign currency spend with no minimum spend and no earn cap. Annual registration is required to earn this additional 1% cashback. This cashback will be awarded on top of the 3% welcome bonus or the usual 1.5% cashback. Terms and conditions apply. 

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="#4: Enjoy special offers on dining, entertainment and travel” data-reactid=”40″>#4: Enjoy special offers on dining, entertainment and travel

Enjoy carefully selected offers from AMEX retail, travel and dining partners with the AMEX True Cashback Card, great for those who love a good deal, or those looking to celebrate a special occasion. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SingSaver Promotion: Get $120 cash via PayNow when you apply as a new to American Express credit cardmember and spend $500 within the first month of approval. Apply between 21 September – 21 October 2020 to qualify.” data-reactid=”42″>SingSaver Promotion: Get $120 cash via PayNow when you apply as a new to American Express credit cardmember and spend $500 within the first month of approval. Apply between 21 September – 21 October 2020 to qualify.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="From now till 31 December 2020, you can also earn an additional 1% cashback on your recurring bills for selected essential services. Again, you would have to register to be eligible for this promotion. Terms and conditions apply.” data-reactid=”43″>From now till 31 December 2020, you can also earn an additional 1% cashback on your recurring bills for selected essential services. Again, you would have to register to be eligible for this promotion. Terms and conditions apply.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now” data-reactid=”51″>Apply Now

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What charges or fees should you look out for?” data-reactid=”52″>What charges or fees should you look out for?

  • Annual fee: $171.20 (First year waived)
  • Late payment charge: $90 per month
  • Minimum monthly payment: 3% of total balance or $50, whichever is higher, plus any overdue amounts
  • Interest on purchases: 25.90% p.a. 
  • Interest on cash advance: 26.90% p.a. 

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Eligibility criteria” data-reactid=”59″>Eligibility criteria

  • At least 21 years of age
  • Minimum annual income for Singapore citizens and PRs: $30,000 
  • Minimum annual income for foreigners: $60,000 

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to apply?&nbsp;” data-reactid=”64″>How to apply? 

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest Income Tax Notice of Assessment and latest original computerised payslip

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now” data-reactid=”77″>Apply Now

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read these next:
Best American Express Credit Cards In Singapore (2020)
Best Cashback Credit Cards In Singapore 2020
Citi Cash Back+ Mastercard® Card Review: 1.6% Cashback On All Spend
Standard Chartered Unlimited Card Review: Fuss-Free Cashback Card
OCBC FRANK Revamp: 5 Reasons To Sign Up For This Newly Relaunched Card
” data-reactid=”78″>Read these next:
Best American Express Credit Cards In Singapore (2020)
Best Cashback Credit Cards In Singapore 2020
Citi Cash Back+ Mastercard® Card Review: 1.6% Cashback On All Spend
Standard Chartered Unlimited Card Review: Fuss-Free Cashback Card
OCBC FRANK Revamp: 5 Reasons To Sign Up For This Newly Relaunched Card

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The post American Express True Cashback Card Review (2020): 1.5% Cashback On Just About Everything appeared first on SingSaver Blog – We Compare, You Save.” data-reactid=”79″>The post American Express True Cashback Card Review (2020): 1.5% Cashback On Just About Everything appeared first on SingSaver Blog – We Compare, You Save.