American Express True Cashback Card cashback rates & bonus categories
Cashback is awarded by MCC code. The rates below depend on the merchant filing the right category code — verify any merchant in our MCC database.
| Category | Rate | Details |
|---|---|---|
| Intro: all eligible purchases | 3% | New Card Members earn 3% cashback on all eligible purchases up to S$5,000 of spend in the first 6 months (up to S$150 cashback). |
| Ongoing: all eligible purchases | 1.5% | After the intro window and beyond S$5,000 spend, earn 1.5% cashback with no minimum spend and no earn cap — credited in the same month’s statement. |
Reward currency: Cashback (credited in the same month’s statement). Source: American Express official page (reviewed 22 September 2026).
American Express True Cashback Card: pros & cons
Pros
- 3% intro rate is the strongest flat no-category rate among SG cashback cards
- Same-month statement credit — faster than most banks
- No categories or minimum spend to manage
Cons
- Amex acceptance in Singapore is narrower than Visa/Mastercard — some hawker stalls and small merchants decline it
- 1.5% ongoing rate matches SC Simply Cash but trails Citi Cash Back+’s 1.6%
- Annual fee after year one (S$174.40) unless waived by spend
Who the American Express True Cashback Card is good for
- New Amex customers capturing the 3% intro
- Large one-off spend windows (renovation, weddings) inside the first 6 months
- Cardholders who value same-statement cashback
Frequently Asked Questions
What is the Amex True Cashback intro offer?
New Card Members earn 3% cashback on all eligible purchases up to S$5,000 of spend within the first 6 months of Card approval — a maximum of S$150 — then 1.5% ongoing.
Is there a cap on Amex True Cashback earnings?
The 3% intro rate caps at S$5,000 of spend (S$150). The ongoing 1.5% rate has no minimum spend and no earn cap.
Where is Amex accepted in Singapore?
Acceptance is broad at supermarkets, chains and online merchants, but narrower than Visa/Mastercard at small merchants and hawker stalls. Many cardholders pair it with a Visa/Mastercard fallback.
Last reviewed: 22 September 2026 | Rates, caps and minimum spend may change. Always verify with CheckMCC and American Express before applying.