American Express True Cashback Card

American Express True Cashback Card

Unlimited Cashback
Introducing the American Express True Cashback Card – your key to earning cashback rewards on every purchase. With no minimum spend and no cap on cashback earned, enjoy the freedom of unlimited cashback potential. Whether it's dining, shopping, or travel, this card offers 1.5% cashback on all your spending.
3.0% Cashback
on up to $5,000 spend in the first 6 months for new Card Members.
1.5% Cashback
all subsequent eligible purchases
Cash Back Cap
MoneySmart Exclusive

[MoneySmart Exclusive Offer]
Get S$130 Cash via PayNow when you apply for an American Express True Cashback Card and spend a min. of S$500 in Qualifying Spends within the first month of card approval. T&Cs apply.

Valid until 31 Jul 2024 - See more details below

Are you eligible?

    • MoneySmart Exclusive Promotion is valid from 24-July-2024 to 31-July-2024

    • Applicable for New to American Express® True Cashback Card Members only

    • Customers need to apply through MoneySmart to be eligible

What you need to know

  1. Gift Options: S$130 Cash via PayNow

  2. Apply and spend a min. of S$500 in Qualifying Spends within the first month of card approval.

  3. Log into your MoneySmart account and submit your claim with your Unique Reference Number (xxxxxxxxxxxxxxSGD) by 7th August 2024.

  4. Please note that gifts will typically be fulfilled approximately 4-5 months after end of the campaign.

  5. Bank T&Cs and apply.

  6. Eligible Customers who qualify for the MoneySmart promotion of (Gift), are not eligible for the Welcome Offers stated on Amex website.

  7. MoneySmart exclusive gifts and rewards do not stack with external or third party promotions unless otherwise stipulated. Kindly refer to T&Cs for details

Claim Form

Quick Facts

Get the maximum value by

Using the card for larger expenses, such as travel bookings or major purchases, to maximize your cashback earnings

Good for

Everyday Spending, Larger expenses

Get if

you want to accumulate cashback rewards without any restrictions, as there's no minimum spend requirement or cap on cashback earned

All Details

Disclaimer: At, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

American Express True Cashback Card Benefits 2024

The AMEX True Cashback Card is a favored option for those seeking a simple and beneficial cashback credit card. Unlike many other cashback cards that provide rewards in the subsequent month, the AMEX True Cashback Card offers instant cashback reflected in the same month’s statement. Some of its highlights include unlimited cashback of up to 3% on expenditures made on dining, shopping, travel and petrol.

Let's look at how you can benefit from the AMEX True Cashback Card in this review, as we dive deeper to consider the requirements, pros and cons and other relevant details before making a decision.

Find Out More About The American Express True Cashback Card In Our Blog Review!

Pros & Cons


  • Up to 3% cashback on dining, shopping, travel and petrol
  • Base cashback rate of 1.5% on any other eligible purchases
  • Welcome cashback bonus in the form of vouchers
  • No cap on cash rebate
  • No annual fees for first 2 supplementary cards, for life
  • Enjoy additional savings on wedding packages and services with AMEX cards’ participating partners
  • Exclusive access to the wide range of dining, travel, shopping and lifestyle privileges (only for AMEX cardholders)
  • Discounts for furnishings at Cellini, Commune, Steigen and more
  • Up to S$350,000 of complimentary travel insurance coverage for travel inconvenience and accidents


  • Interest rate of 27.80%, which is higher than other cashback credit cards in the market
  • A minimum spend of $5,000 in the first 6 months is required to qualify for the 3% cashback on spending in selected categories (only applicable to new card holders)
  • Low maximum cashback percentage as compared to other similar cashback credit cards like UOB One Card, HSBC Visa Platinum Card, and Citi Cash Back Card

Compare AMEX True Cashback Card vs. HSBC Visa Platinum Card vs. CIMB World Mastercard

As we make a comparison between the 3 cards, the CIMB World Mastercard seems to give you the most savings on annual fees as it doesn’t charge any, unlike the AMEX True Cashback Card and HSBC Visa Platinum Card. However, the CIMB World Mastercard provides the lowest amount of maximum cashback benefits on selected spending categories as compared to these other two credit cards.

While the HSBC Visa Platinum Card lets you gain the highest percentage of cashback on your spending, it is only for limited number categories like local dining and groceries (food deliveries and online groceries included), unlike the AMEX True Cashback Card which enables cashback for a wider range of categories including overseas expenditure, shopping, home improvement purchases and more.

In terms of interest rates, the AMEX True Cashback Card and CIMB World Mastercard charge the same estimated rate of 27.80% p.a., which is higher than what the HSBC Visa Platinum Card charges.

AMEX True Cashback CardHSBC Visa Platinum CardCIMB World Mastercard
Interest rate:
From 27.80%
Interest rate:
From 26.90%
Interest rate:
From 27.80%
Annual fee:
$174.40 (first year waiver available)
Annual fee:
$196.20 (waiver available)
Annual fee:
Minimum annual income:
  • Available upon request from AMEX (minimum income subject to AMEX’s internal assessment and approval)
Minimum annual income:
  • $30,000-$40,000 for Singaporeans and PRs
  • $40,000 for foreigners
Minimum annual income:
  • $30,000 for Singaporeans and PRs (this card is not available to foreigners)
Cashback benefits:
  • Up to 3% cashback on shopping, dining, travel and petrol
  • 1.5% base cashback on any other eligible purchases
  • Unlimited cashback for all eligible purchases
  • No cap on cashback earned
  • Zero annual fee charges for first 2 supplementary cards
  • Discounts on wedding packages and services (only for AMEX cards’ participating partners)
  • Access to exclusive range of entertainment, dining, shopping, travel and lifestyle privileges
  • Promotion rates for furnishings at Commune, Cellini,Steigen and more
  • Complimentary travel insurance coverage for travel inconvenience and accidents
Cashback benefits:
  • 5% cash rebate on local dining and groceries (food deliveries and online groceries included) min. spending of S$600 monthly in a calendar quarter to earn 5% cash rebate
  • Up to 21.15% fuel savings at Caltex and Shell
  • 1X Reward point per dollar spent
  • Cashback rebate cap of $250 per quarter
  • Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel
Cashback benefits:
  • Up to 2% cashback on wine, dining, online food delivery, movies, digital entertainment, taxi, automobile, and luxury goods
  • No annual fee charges
  • Choose from over 1,000 CIMB Deals & Discounts across dining, retail and lifestyle outlets
  • Access a wide range of Mastercard Travel Rewards
  • Get golf courses discounts via the Mastercard Southeast Asia Golf Program
  • Complimentary travel insurance

Find Out More About More Great Cashback Cards In Our Blog Article!

AMEX True Cashback Card Application

Here are 3 simple steps to apply for the AMEX True Cashback Card

Step 1

Apply via MoneySmart’s credit cards page

You may begin your application by clicking on our AMEX True Cashback Card application link. When you choose to apply online via SingPass MyInfo, AMEX will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

Step 2

Provide all documentation required

You’ll need to provide all the necessary documentation in order for AMEX to approve your credit card application. This list of documents include:

  • NRIC or other identification details
  • Latest computerised payslip
  • Latest 12 months’ CPF Contribution History Statement
  • Latest Income Tax Notice of Assessment (NOA)

Step 3

Receive your AMEX True Cashback Card

Once your card gets approved, you will receive it in the next 3 to 5 business days. Thereafter, it’s ready for you to use on any of your purchases and you can track your cashback rewards and credit card statements with your AMEX mobile app!

Frequently Asked Questions

Are there any fees if I apply for the AMEX True Cashback Card?

AMEX True Cashback Card charges an initial annual fee of $174.40 (first year waiver available), as well as other fees like late payment fee, minimum monthly payment, foreign currency transaction fee, cash advance transaction fee, overlimit fee.

Am I eligible for the AMEX True Cashback Card?

If you’re a Singapore Citizen, Permanent Resident (PR), you’re eligible to apply for the AMEX True Cashback Card, as long as you’re aged above 21, and earn a minimum annual income that meets the requirements and internal assessment criteria by AMEX.