Among all the American Express cards you see advertised or listed on affiliate websites, the Amex CapitaCard would probably be the less popular one. Hardly do you see any affiliates offering additional gifts for this card. So then, what’s the value of the CapitaCard.
The American Express CapitaCard is Amex’s other co-brand credit card (aside from the popular KrisFlyer range). You’ll basically be rewarded in STAR$ for your expenditure which you can exchange for CapitaVouchers – to be used in CapitaLand Malls
American Express CapitaCard Benefits
Here are the main selling points of the credit card.
- Earn 15 STAR$ for every S$1 spend within CapitaLand Malls
(1.5% rebate in CapitaVouchers)
- Earn 65 STAR$ for every S$1 spend at selected merchants within the malls.
(6.5% rebate in CapitaVouchers)
These merchants include F&B outlets like MOF My Izakaya, LENAS, and boutiques like Rip Curl, Billabong, among others.
- Spend S$1,200 in a month and get 3-hour parking free per day at each CapitaLand malls
To give you a sense of the value of STAR$, every 5,000 STAR$ allows you to redeem S$5 CapitaVoucher.
In addition to the benefits above, Amex is running a promo from now till 30 November 2019, where you’ll get up to 25% savings in petrol with SPC. This could be the best credit card discount for petrol at the moment.
Here’s the breakdown.
- All Amex Card Members gets 5% discount by default
- If you enroll your credit card in the system you’ll get additional 7.1% savings via statement credit
- Sign Up for SPC&U Membership (free) to get another 10% discount
- American Express CapitaCard Members will receive another 4% rebate in STAR$
Very often, Amex and CapitaStar often have joint promotions where CapitaCard Members enjoy bonus value when they purchase CapitaVouchers. In the example below, for every S$300 worth of CapitaVouchers purchased, you get additional S$30 vouchers. That’s 10% bonus value!
Like most of the Amex credit cards, CapitaCard members are also eligible for the Amex Member-Get-Member program. For every friend you refer, you and your friend will get S$50 worth of CapitaVouchers each. (awarded in STAR$)
Our Verdict For The American Express CapitaCard
Before we jump to our conclusion we’d like to state that CapitaVouchers in a way can be considered as currency close to cash. In case you’re oblivious to the property owners, malls such as Raffles City, Funan Digital Mall, Junction 8, Plaza Singapura, Tampanines Mall, Westgate, IMM, etc belongs to CapitaLand. So if you’re in a shopping mall with an MRT attached to it, high chances it’s a CapitaLand Mall.
From benefits like free parking plus the 25% SPC promotion, it seems like Amex is trying to target drivers for this card. For drivers, let’s assume you spend $300 on petrol each month, and you visit a CapitaLand Mall each day for groceries or for meals. You can potentially save $75 from petrol expenditure and $90 on parking (assuming parking cost $3 at the malls). That’s $165 in savings a month, or almost $2,000 savings in a year.
Although you may argue there’s a minimum monthly expenditure on the card for the 3-hour daily free parking. Assuming you own a car, and you do most of your shopping and dining activities in CapitaLand Malls, that figure should be relatively reasonable to achieve.
Amex tends to refresh the STAR$ Xtra merchants where you’ll get 6.5% rebate when you spend with them. The exclusive CapitaVoucher promotion Amex runs from time to time where you’ll get 10% extra in value is also quite attractive.
In a nutshell if you’re a driver who patron’s CapitaLand Malls frequently, or if you do your visit CapitaLand Malls frequently then signing up for the American Express CapitaCard would be a no-brainer. However if you don’t drive and shop at non-CapitaLand malls, then you may want to check out the fuss free American Express True Cashback Card which also gives a flat 1.5% cashback on all purchases (regardless of location)
ThePennyPincher gets a small cut from applications via the above link. However this article is written entirely based on our own view.