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A True Review Of The American Express True Cashback Card

American Express True Cashback Card

In general, most of us use credit cards to earn miles or earn cash back. Cashback cards are great for day-to-day spending and you can chalk up a pretty substantial amount of rewards over time. With so many cards out there, it’s important to know which cash back card is the best for you. Here, we’re going to look at the American Express True Cashback Card and consider whether this card deserves a spot in your wallet!

How Does The Amex True Cashback Card Work?

Firstly, let’s start off with a brief summary of card value proposition

  • Cashback rate: 3% on all expenditure (first 6 months, up to $5000), 1.5% subsequently, no minimum spending required
  • Annual fee: $171, with first year waiver
  • Minimum income: $30 000 for Singaporeans, $60 000 for foreigners

Ongoing Promotion till 30th June 2019
Get S$60 CapitaVouchers with S$500 spend in the first month

Is this card worth it?

Certainly, the cashback rates aren’t exceptionally impressive — 3% for the first $5000 spent and a subsequent 1.5% is not the highest rate in the market. However, here’s something you should take note: you get cashback on all your expenditure charged to this card. There is no capped limit and cashback is not limited to any specific category of spending. With that in mind, the cash back rates really aren’t too shabby!

What this means is that you can earn cashback so long as you charge your expenditure to this card. There are no strings attached! Additionally, there’s also no minimum spending required. It doesn’t matter whether you’re a big or small spender — you still get rewards!

Is this card for me?

Yes, if you are someone that:

  • Hates keeping track of different promotions
  • Looking for the fuss free all in 1 cashback card with no shady terms and conditions
  • If you have a big purchase (e.g. computer, wedding, travel, home renovation, etc) coming up

However if you’re someone who doesn’t mind to constantly keep a lookout of the best deal, and keeping track of your expenditure by the different categories (e.g. dining, retail, transport, etc) then a mixture of cashback credit cards may be more suited for you.

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