American Express to replace S$800 Travel Credits with S$1,200 Statement Credits for Platinum Members in 2023
The American Express Platinum Card needs no introduction - the metal charge card is one of the most coveted cards in Singapore (and around certain parts of the world) with a higher-than-average minimum income requirement and a non-waivable annual fee at S$1,712 (S$1,728 in 2023 with the GST hike). American Express will be replacing the S$800 annual travel credits that Platinum Members receive each membership year with up to S$1,200 worth of statement credits from 2023, and these statement credits will be awarded (so long you save the offers) each calendar year thereafter.
Find out more about The American Express Platinum Card HERE!
Photo Credit: American Express
Photo Credit: American Express
You should definitely take note that any existing travel credits (S$400 air travel credit and S$400 lodging credit) will have a new expiry date of 31 January 2023 - this will apply to everyone so you must use them before this date via the American Express Travel Online website or the Platinum Concierge before this date, regardless of your month of membership renewal. The good news is that you will receive a new set of statement credits (so long you satisfy the conditions of spend) in 2023. For example, my Platinum Card membership begins in August every year, and I have already received my S$800 travel credit for the membership year. On top of the S$800 travel credit, I will also be able to save the American Express offers from 2023 to enjoy up to S$1,200 in statement credits.
American Express has not provided details regarding the new S$1,200 statement credit for Platinum Members but eligible members must enroll for these offers via the Amex mobile app, or website to enjoy the statement credit offers from 2023. The breakdown of the S$1,200 statement credit are as follows:
S$400 in Dining Credits (S$200 for Local Restaurants and S$200 at Participating Restaurants Overseas)
S$400 in Lifestyle Credits (across Participating Lifestyle Retail Partners)
S$204 in Entertainment Credits (for Monthly News or Music Streaming Services)
S$200 in Airline Credits for Ticket Purchases with a Minimum Spending at Singapore Airlines
Photo Credit: American Express
For the sake of clarification, Platinum Members will not enjoy the yearly S$800 travel credits with their card membership but will instead enjoy up to S$1,200 worth of statement credits when they spend across participating partners in the relevant spend categories. American Express has not provided too much information regarding the participating partners but even though S$1,200 is more than S$800 on paper, Platinum Members will have to work a little bit harder to "get their money back". Singapore will also be raising the GST from 7% to 8% from 01 January 2023 so the annual fee of The American Express Platinum Card will increase from the current S$1,712 to S$1,728 in 2023.
Planning to get an American Express card? Using any of the following MGM referral links will earn you either bonus MR Points or additional statement credits, depending on the card that you will be applying for:
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