American Express Platinum Credit Card: Premium Perks or Overhyped?

Shania Wong
PROMO: Receive up to 135,000 Membership Rewards® points (enough to redeem a return trip to Europe or USA (West Coast) or (Canada) + a complimentary one-night stay at The Ritz Carlton, Millenia Singapore (worth S$590) + S$100 cash
Apply Now
on American Express's website

American Express Platinum Credit Card

Apply Now
on American Express's website
The AMEX Platinum Credit Card is a pricey but exclusive option for affluent social spenders who enjoy luxury shopping, dining, and spa visits locally, as well as golfing in the APAC region.


  • Up to 50% off bills at local restaurant and hotel buffets
  • Rewards on designer brands
  • Reward points don’t expire
  • No fee to convert points into miles


  • High annual fee with no automatic waiver
  • Not the best mile earning rate
  • Lacks luxury travel perks
  • Merchant list is limited

Current Promotion

Receive up to 135,000 membership rewards + a complimentary one-night stay at The Ritz Carlton, Millenia Singapore with a minimum spend of S$6,000 within 2 months of card approval (Valid until 29 May 2024) + Get S$100 cash (Valid until 27 March 2024) Click to apply.

It’s hard sorting through all the AMEX platinum cards sometimes. I mean, you have The Platinum Card, the AMEX Platinum Reserve Credit Card, and finally the AMEX Platinum Credit Card.

What’s the difference? And which one is best for you?

In this case, we’ll be reviewing the American Express Platinum Credit Card, which is basically the beginning of the “platinum” tier in terms of annual fees, benefits, and prestige – if that’s still a thing these days.

We’ll cover: 

Eligibility Requirements

Age21 and above for principal cardholders; 18 and above for supplementary cardholders
Annual IncomeSubject to AMEX’s minimum income requirement and internal assessment criteria

It used to be that having a platinum credit card meant you were part of the upper echelon of society – you had to earn a minimum of $100,000 or be specially invited to apply for the card.

These days? Not so much. Platinum credit cards are now more accessible in general, though they still carry higher income requirements than entry-level cards. The exact requirements for the AMEX Platinum Credit Card are not publicly disclosed, but it’s considered to have a lower income requirement than the other platinum cards. (It was previously $50,000, then revised upward to $80,000, and then AMEX decided to unpublish the requirement entirely.)

If you have your heart set on this card, feel free to apply as long as you’re somewhere within the ballpark of those numbers. (No worries even if your application is rejected; the penalty for credit card rejections is inconsequential to your credit history over the long term)

Fees and Charges

Annual Fees
  • S$324 inclusive of GST
  • First 2 supplementary cards are free for life (S$162 inclusive of GST for each subsequent card)
Effective Interest Rate26.90% p.a.
Repayment Grace Period22 days from date of the Statement of Account
Late Payment ChargesS$100
Minimum Monthly Payment3% or S$50, whichever is higher
Overlimit FeeN.A (No credit limit for Platinum cards)
Cash Advance Transaction Fee5% of transaction amount
Cash Advance Interest Rate26.90% p.a. compounded daily from withdrawal date
Foreign Currency Transaction Fee2.95%

Lowest Fees Amongst the AMEX Platinum Cards

We’ve already mentioned that this is like the “baby” of the platinum credit cards, made all the more evident when you compare its fees with those of the other platinum credit cards:

Credit Card (American Express)Annual Fees
The American Express® Platinum Credit Card$324
American Express® Platinum Reserve Credit Card$540
The Platinum Card®$1,728

Apart from the difference in annual fees, all other fees are identical across all three Platinum cards. 

The dining privileges of the AMEX Platinum Credit Card are undoubtedly noteworthy. But what other benefits does this premium card have to offer? And more importantly, do the benefits outweigh the fees? We’ll explore that next.

Points Earning Rate and Other Benefits

Points Earning Rate
  • 2 points for every S$1.60 spent
  • 10 points for every S$1.60 spent at Platinum 10Xcelerator Partners in Singapore
    • E.g. Park Royal Collection, Wildseed Cafe, American Tourister, Maison 21G, etc.
Other Benefits
  • No mile conversion fees
  • Up to 50% savings at selected restaurants and hotels
  • Discounts and complimentary green fees at lifestyle partners
  • Complimentary travel accident insurance and fraud protection
  • 90-day return guarantee even if the store does not accept for a refund of up to S$800 per item
  • 90-day protection against accidental damage or theft for purchases up to S$10,000 per incidence of theft or damage

Points Don’t Expire

Besides the usual vouchers, you can use your points to get rewards such as a limited-edition Teeling Whiskey, offset the cost of a new iPhone 14, or waive the annual fee. And if you’re planning to convert your points into miles for your next trip, transfer fees are permanently waived with the AMEX Platinum Credit Card.

High Earn Rate, But Only at 10Xcelerator Partners 

The rate varies depending on where you spend:

  1. Accelerated rate of 10 points for every full S$1.60 spent at Platinum 10Xcelerator Partners, capped at S$16,000 spending. Partners include brands such as Mont Blanc, Lee Hwa Jewellery, Leica, and Park Royal. This works out to be about 3.44 MPD.
  1. Base rate of 2 points for every full S$1.60 spent. Any transactions below S$1.60 will not earn any points. This works out to be about 0.69 MPD for non-10Xcelerator Partner spending – terrible!
  1. Certain spending will not earn you any points. As with other credit cards, payments made to financial institutions, SAM kiosks, etc. will not earn any points.

If you’re wondering how much your points are worth, here’s a sample of what you can redeem from the AMEX rewards catalogue (accurate :

Exchangeable RewardsPoints RequiredSpending Required (assuming spending is at 10x Partners)Actual Rebate Percentage/Rates
$100 IKEA voucher22,200$3,5522.8%
$50 iTunes voucher11,100$1,7762.8%
$10 Isetan voucher2,200$3522.8%
250 Krisflyer miles or Highflyer points450$72S$0.28 per Krisflyer mile/ Highflyer point

Maximising Dining Benefits

Under AMEX’s Love Dining programme, users get access to a suite of deals at the luxury hotels and restaurant partners listed. Some examples of partners include:

Hotel partners: 

  • Fairmont Singapore
  • St. Regis Singapore
  • Swissotel The Stamford Singapore

Restaurant partners: 

  • Wooloomooloo Steakhouse
  • Escape Restaurant
  • Xin Cuisine Chinese Restaurant

Cardholders get savings of up to 50% on their total bill depending on the number of diners:

Number of DinersDining Privileges
Dining aloneUp to 15% savings
Two to Dine50% savings
Three to DineUp to 35% savings
Four to Dine25% savings
Five to Ten Diners20% savings

(Clearly, the program is pushing you to dine in as a pair to maximise your benefits.)

Downsides Of The AMEX Platinum Card

Low Earn Rates for Non-10Xcelerator Spending

Although the points never expire, it’s unfortunate that the earn rate on this card is one of the lowest in the market. 

Base rates for both local and overseas spending is 0.69 miles, whereas most other miles cards in the market would offer at least 1.2 miles per S$1 spent locally and 2 miles per S$1 spent overseas.

Even with the boosted earn rates at Platinum Partners, the 3.44 MPD earn rate still doesn’t compare to the 4 MPD that other rewards cards offer. (Granted, those usually have a much lower spending cap.)

Limited Selection Of Luxury Perks

Considering it’s a platinum card, it doesn’t offer much in the way of luxury benefits. The 10Xcelerator programme only has 57 partners islandwide, of which 4 are for insurance. 

Although AMEX’s Platinum Lifestyle programme offers free drinks at prestigious venues like Fairmont Singapore’s Anti:Dote along with spa vouchers from high-end wellness centers such as Adeva Spa, some may feel that the luxury perks could be more comprehensive. For instance, the programme doesn’t include categories such as exclusive experiences.

Here are some of the participating partners you can expect from each category: 

CategoryParticipating Partners
Beauty & Cosmetics (1 partner)
  • Maison 21G
Fashion & Accessories (6 partners)
  • Fred Perry
  • Moschino
Dine & Wine (6 partners)
  • PARKROYAL COLLECTION Marina Bay and Pickering
  • Venchi
  • Malt & Wine Asia
1-Group (13 partners)
  • Botanico
  • The Summerhouse
  • Wildseed Bar and Cafe
Home & Lifestyle (14 partners)
  • American Tourister
  • Miele
  • Steinway Gallery
Watches & Jewellery (13 partners)
  • IWC
  • L`Atelier
  • Roger Dubuis

Unfortunately, overseas spending at Platinum partners do not entitle cardholders to the boosted point earning rates. 

How Does The AMEX Platinum Credit Card Compare?

Annual FeesPoints Earning RatesPoints Expiry
AMEX Platinum Credit CardS$324, no waiver
  • Base rate: 2 points per S$1.60 spent (0.69 MPD)
  • 10 points per S$1.60 spent at Platinum partners (3.44 MPD
Standard Chartered Visa Infinite X CardS$702, waived for 1st year
  • 3 points per dollar spent locally (1.2 MPD)
  • 5 points per dollar spent overseas (2 MPD)
UOB Visa Infinite Metal Card$648, no waiver
  • UNI$3.5 for every 5 dollars spent locally (1.4 MPD)
  • UNI$5 for every 5 dollars spent overseas (2 MPD)
UNI$ expire 2 years from the quarter the UNI$ was earned
Citi Prestige CardS$540, no waiver
  • 3.25 points per dollar spent locally (1.3 MPD)
  • 5 points per dollar spent overseas (2MPD)
No expiry

Best Dining Benefits

The AMEX Platinum Credit Card offers the best dining benefits with up to 50% off bills at selected restaurants. The annual fee is also relatively low at S$324, although the earn rate is also lower compared to other premium cards.  

Best Luxury Privileges

The UOB Visa Infinite Metal Card tops the list for those in search of luxury experiences and lifestyle perks such as golf privileges, fine dining, and hotel upgrades. While the annual fees are on the higher end, cardholders benefit from perks like co

mplimentary drinks at fine dining restaurants, boosted local mile earn rates, and travel concierges. 

Best Hassle-free Card

The Citi Prestige card is designed for affluent travellers seeking to accumulate miles without the hassle of monitoring spending categories. With Citi PayAll, cardholders can earn points on various expenses like taxes, rent, condo management fees, and utility bills (at the cost of a small service fee).

Whom This Card is Best For

This card is an option to consider if:

  • You are an affluent spender who shops mostly with AMEX’s 10Xcelerator Partners
  • You frequent high-end spas to enjoy the card exclusive discounts
  • Most of your golfing activities are within the APAC region (to enjoy waived green fees)
  • You dine out often at upscale Singaporean bars, Michelin-starred restaurants, and restaurants at luxury hotels

This card is NOT a good option to consider if:

  • You are looking for a high miles earning card
  • You’re a frequent traveller looking for luxury travel benefits such as free lounge access and travel upgrades
  • You look for annual fee waivers above a certain spend