American Express Announces Double Points For Centurion and Platinum Members on Everything - 21 April to 20 July 2020
To bring more value to American Express Centurion and Platinum members during this period, all cardholders in good standing will be able to earn double points on all eligible spend made between 21 April 2020 and 20 July 2020. Not only will the base earn rate be doubled, but members will also be able to earn up to 40 Membership Rewards (MR) points per S$1.60 (15.6 miles per dollar!) across all American Express Platinum EXTRA Partners. In doing so, The Platinum Card from American Express becomes one of the best cards in Singapore for general spending (local currency) during this period.
Click HERE to find out more about the benefits and perks of The Platinum Card
Photo Credit: American Express
The Platinum Card from American Express may come with a hefty annual fee of S$1,712 each year but it comes with some incredible perks like free room nights at ultra-luxurious properties, travel credits, unlimited airport lounge visits, as well as access to exclusive offers throughout the year. The Platinum Card from American Express earns 2 MR points per S$1.60 (equivalent to 0.78 mpd) but Platinum Members can earn 20 MR points per S$1.60 for the first S$16,000 spend across American Express Platinum EXTRA Partners (and 10 MR points per S$1.60 across these partners after that with no cap).
General Spend at 1.56 Miles per Dollar!
Under this double points campaign, Platinum Members will be able to earn 4 MR points per S$1.60 (1.56 miles per dollar) during the aforementioned period - this puts The Platinum Card amongst the top of the list of general spend credit cards to use in Singapore. Excluding credit cards that require some kind of priority or private relationship with a bank (e.g. UOB Reserve Card), the BOC Elite Miles World Mastercard offers 1.5 mpd and even though it may be the ‘best’ general spend credit card in the market, it comes with its own set of teething problems which I would rather not deal with. The UOB PRVI Miles Card comes in as a close second, offering 7 miles for every S$5 (1.4 mpd) charged to the card. However, with the new double points campaign, The Platinum Card tops this list at 1.56 miles per dollar - it is now one of the best credit cards to use for general spending n local currency (SGD).
| Usual (per S$1.60) | Double Points (per S$1.60) | |||
|---|---|---|---|---|
| MR Points | Miles per Dollar | MR Points | Miles per Dollar | |
| Base Earn Rate (All Eligible Spend) |
2 | 0.78 | 4 | 1.56 |
| Platinum EXTRA Partner (First S$16,000) |
20 | 7.81 | 40 | 15.63 |
| Platinum EXTRA Partner (Excess of S$16,000) |
10 | 3.91 | 20 | 7.81 |
15.6 Miles per Dollar (Capped at S$16,000) at Platinum EXTRA Partners
The Platinum Card allows you to earn 20 MR points per S$1.60 (7.81 mpd!) on the first S$16,000 that you charge across all American Express Platinum EXTRA Partners each year - you will earn 10 MR points per S$1.60 (3.91 mpd) with no cap following that. Under this new double points campaign, Platinum Members will be able to earn 40 MR points per S$1.60 (resulting in 15.63 mpd!) on the first S$16,000 that they charge across all American Express Platinum EXTRA Partners - they will also earn 20 MR points per $1.60 (7.81 mpd) with no cap across these participating partners from now until 20 July 2020.
3.91 Miles on Singapore Airlines, SilkAir and/or Scoot
Platinum Members already receive 5 MR points for each full S$1.60 that they spend on Singapore Airlines, SilkAir and/or Scoot (directly or through an official channel like The Platinum Concierge and the American Express Travel Online). For the aforementioned period, Platinum Members will receive 5 additional MR points for eligible purchases and they will earn a total of 10 MR points for every $1.60 (3.91 mpd) that they spend on such purchases. While now may not be the best time to travel, it should not stop you from planning your trips ahead and do remember that you will have access to exclusive IAP Rates which represent significant savings on your Business and First Class flights.
Double Value on Statement Credit - 2.4% Cashback on Everything!
Platinum Members can use their MR points to offset transactions on their card - in view of this Double Rewards promotion, the value of the MR points used towards statement credits will also be doubled. In short, eligible members will be able to offset S$9.60 with just 1,000 MR points (instead of S$4.80 usually). With the Double Rewards promotion, spending S$400 will give you 1,000 MR points so this effectively makes The Platinum Card into a 2.4% flat cashback card on everything that you charge to it - impressive! If you spend across American Express Platinum EXTRA Partners, it creates a 24% cashback card (on the first S$16,000 of eligible spend) which is unheard of!
Photo Credit: Bankrate
Centurion Members Get More!
The Centurion Card is probably one of the most exclusive cards around the world and a Singapore-issued card comes with an annual fee of S$7,490 (it also comes with a further S$7,490 initiation fee in the first year) - you will pay S$14,980 in fees in the first year of your membership. The Centurion Card typically earns 2.5 MR points per S$1.60 (0.98 mpd) but under this campaign, Centurion members will earn 5 MR points per S$1.60 (1.95 mpd) which makes it the best general spend card in the market (even though this card is probably out of reach for most people as rumour has it that you will need to have at least a million dollars on your IRAS Notice of Assessment in order to be invited). Spending across American Express Platinum EXTRA Partners will also increase to 41 MR points per S$1.60 (16.01 mod) for the first S$16,000 and 21 MR points following that.
What About Platinum Credit Card Members?
Now you should already know this but there are three different American Express Platinum cards in Singapore - The Platinum Credit Card (lowest-tier but the most bang for your buck), The Platinum Reserve Credit Card (mid-tier with 2 nights of complimentary stay each year) as well as The Platinum Card (exclusive metallic charge card with amazing perks!). Unfortunately, Platinum credit card members will not be able to benefit from the double points promotion during this period.
While it is safe to say that I have not been able to utilise some of my Platinum Card benefits this year due to the current situation that we are in, being able to earn double points on everything that I put onto this card makes a huge difference. Now I am obviously not implying that you should immediately apply for The Platinum Card because you can now earn at least 1.56 mpd on all eligible spend but campaigns like these just show how proactive American Express is - they are consistently one of the best banks to deal with in terms of customer service and as I have mentioned previously, the card does come with some amazing perks (which would be good to have once international travel resumes) for as long as you hold it.
Photo Credit: American Express
If you have been eyeing that 15% cashback offer on Fave, now might just be the time to do it (getting 1.56 miles per dollar AND 15% cashback is a fantastic deal). Additionally, whenever things are back to normal, it will be a good idea to revisit those exclusive Fine Hotel & Resorts (FHR) offers - I have also compiled a list of current FHR offers in Singapore (including third night free offers) that you might want to reference to get the most bang for your buck. Planning to get an American Express card? Using any of the following MGM referral links will earn you either bonus MR Points of KrisFlyer miles depending on the card that you will be applying for:
The Platinum Card - 40,000 MR Points Bonus.
American Express Platinum Credit Card - 15,000 MR Points Bonus
American Express Singapore Airlines KrisFlyer Ascend Credit Card - 7,500 KrisFlyer Miles Bonus
From now through to 30 June 2024, purchase any single- and multi-trip travel insurance to receive attractive sign-up gifts which include an Accor Plus Explorer Membership (worth S$418) and Samsonite luggage (worth S$570).