Introduction
Earning American Express (Amex) points in Singapore can be a nuanced endeavor. While most consumers know that using the card earns points, few are aware of the strategies to maximize this benefit. Below are some advanced tactics to rapidly accrue Amex points in Singapore, informed by the different card types and benefits offered.
Optimize Card Usage According to Categories
- American Express Platinum Card: Ideal for dining and travel expenses, it yields 2 Membership Rewards points for every S$1.60 spent. However, the Platinum Card's 10Xcelerator program can boost this to 20 points per S$1.60 at selected Platinum 10Xcelerator Partners.
- American Express Rewards Card: This card is best for everyday expenses like groceries and utility bills, earning 1 point per S$1 spent.
Leverage the 10Xcelerator Program
- Eligible Spends: Primarily, focus on dining and selected online retail websites for up to 20 points per S$1.60, capped at S$16,000 per year.
- Cap Monitoring: Keep track of your expenses in this category. After reaching the S$16,000 threshold, you'll revert to earning 10 points per S$1.60.
Link Eligible Cards
- Synergy: Pooling points from different Amex cards can help you reach higher-value redemptions faster. For instance, if you also own a corporate Amex card, consider linking it to pool even more points.
Use Supplementary Cards Strategically
- Audience: Issue these cards to individuals with high spend tendencies but always within their financial capability.
- Track Spending: Monitor spending patterns to ensure they align with high-reward categories.
Take Advantage of Promotions
- Short-Term Promos: Keep an eye out for limited-time offers, such as festive promotions or partnerships with specific retailers, which may offer bonus points or cashback.
- American Express Dining Privileges: Up to 50% off dining bills at over 50 restaurants can also earn you points quicker due to increased frequency of dining out.
Intelligent Points Redemption
- Statement Credits vs. eVouchers: 62,500 points equate to S$375 in statement credits or S$280 in eVouchers. The former offers a better value conversion.
- Point Expiry: Some points expire after a set period. Consider using them for high-value redemptions like flight upgrades or premium gifts.
Pay with Points Option
- High-Value Partners: Focus on the 80 partners where 1,000 points equal S$6 off as opposed to the general rate of S$4.80 per 1,000 points for maximum value.