Amaze Card to Lower Cashback with Additional Minimum Spend Requirements from 01 April 2022 - Still a Great Card to Have!
The Amaze Card from Instarem is one of the best debit cards to have in Singapore as it allows you to link a Mastercard and earn up to 1% bonus cashback on top of your usual credit card rewards of up to 4 miles per dollar - you will also get to avoid any FX charges (up to 3.5%) that the banks will typically levy so that's an extra win. Starting from 01 April 2022, the Amaze Card will lower the maximum cashback you can earn per month while introducing additional minimum spend requirements so the bonus cashback that you can potentially earn on this card will be lower moving forward - but keep it in your wallet!
Click HERE to sign-up for a free Amaze Card and start avoiding FX fees on your Mastercard!
Photo Credit: Instarem
Non-SGD Transactions will Continue to Earn 1% Cashback (No Change)
The Amaze Card is great for non-SGD transactions and the two main Singapore-issued credit cards that you should link to it are the DBS Woman's World Card (which will give you 4 miles per dollar on almost all transactions) and the Citi Rewards Card. You will continue to enjoy a bonus cashback of 1% and no FX fees from 01 April 2022 - no change.
SGD Transactions will Earn 0.5% Bonus Cashback
If you have been using the Amaze Card for SGD transactions to double-dip on rewards, you will only earn 0.5% (instead of 1.0%) cashback from 01 April 2022.
Lower Cashback Cap per Quarter from S$100 to S$50
The total cashback that you can earn on the Amaze Card will be capped at S$50 (instead of the current S$100) per quarter.
Increased Minimum Spend per Transaction and per Quarter
Transactions will have to be at least S$10 (up from the current S$5) in order to qualify for bonus cashback - you will also have to spend at least S$1,500 per quarter (instead of just S$500 per quarter) from 01 April 2022 for all eligible transactions to earn bonus cashback.
While the changes are not positive, the Amaze Card is still fantastic to have as it allows you to bypass FX fees of up to 3.5% and still earn up to 4 miles per dollar on all eligible transactions.
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