Credit Limit On American Express Platinum Card – The AMEX Platinum Credit Card isn’t a great option to spend, but the Love Dining and Chillax benefits can make your time tick.
Here’s a review of the American Express Platinum Credit Card, which created a lot of buzz when it launched in Singapore in 2004.
Credit Limit On American Express Platinum Card
Until then, the idea of ”platinum gold” was sacred. Most of the cards with the tag had a minimum income of S$100,000, which was by invitation only. But the AMEX Platinum Credit Card cut that in half to just $50,000, the industry average for gold cards at the time. This led one advertising executive to dismiss it as a “white gold card” that “undermines the appeal of other platinum credit cards among the crème de la crème of society” (I shouldn’t call it “creamy.”).
American Express Mobile App
Of course, AMEX disputes the assessment, saying that the average Platinum Credit Cardholder will earn S$125,000 a year. The ad is marketing it as a heavyweight offering, as they want to ward off speculation that it could be a poor man’s platinum. One shows a card pointing down a man’s suit pocket, another a card in a bag folding a chair (either that or someone really needs Jenny Craig). Lifestyle perks include free golf, Feed at Raffles membership (remember that?) and spa packages.
Fast forward to today and maybe that ad man is right. The platinum label has lost all meaning because a cash-strapped student can get their hands on a platinum debit card.
What does this mean for the AMEX Platinum Credit Card – Is it the right precious metal for you?
Is The Amex Platinum Worth The $695 Annual Fee?
The AMEX Platinum Credit Card isn’t a great option to spend, but the Love Dining and Chillax benefits can make your time tick.
The AMEX Platinum Credit Card suffers from an identity crisis, as American Express has three different platinum cards with similar names.
The entry-level AMEX Platinum Credit Card offers two tiers below the AMEX Platinum Fee (S$200,000 earnings) and one tier below the AMEX Platinum Reserve (S$150,000 earnings).
American Express Makes Several Negative Changes (fee Increases) To The Platinum Card
Annual fees, earnings percentages, transfer ratios (minimum AMEX Platinum fee) and benefits vary, so be careful not to confuse the three.
On paper, the AMEX Platinum Credit Card should be worth $80,000 per year. This has increased from S$50,000 as part of the 2020 changes.
However, I have read a number of data points from previous reader endorsements of S$50,000, which lead me to believe that this is a cosmetic change rather than a hard and fast rule.
Credit Card Application Rules 2023
Please note: Any income requirement above S$30,000 is largely arbitrary (it may affect the credit limit granted but is not permitted). If you want the benefits of this card, it can’t hurt to send in an application – the worst they can say is no. An unsuccessful credit card application will not negatively affect your credit score.
The AMEX Platinum Credit Card has a primary cardholder annual fee of S$321. The first two add-on cards are free for life, and the third costs S$160.50.
The first year’s annual fee cannot be waived (unless you are enrolled in a special POEMS promotion, see next section), and subsequent year’s fees may be waived at AMEX’s discretion.
The Real “status Symbol” Amex Platinum Card
From now until September 30, 2022, American Express, in partnership with POEMS by Philip Securities, is offering the first-year fee waiver for the AMEX Platinum Credit Card.
For the avoidance of doubt, the annual fee waiver offer only applies to non-Amex Platinum credit card holders (if you already own another AMEX card, that’s fine). Select the fee waiver option.
AMEX Platinum Credit Cardholders earn 2 Membership Rewards Points for every S$1.60 spent in Singapore dollars or foreign currency (FCY). 450 MR points equals 250 airline miles, which equals 0.69 MPD in local and FCY costs.
How Many Amex Platinum Welcome Bonuses Can You Earn?
AMEX Platinum Credit Cardholders earn 10 MR Points for every S$1.60 spent at 10Xcelerator merchants (formerly known as Platinum Extra). This is an effective income of 3.47 mpd and there is no cap on the maximum bonus that can be earned.
3.47 mpd is obviously less than the 4 mpd you can earn through contactless payments with UOB Preferred Platinum Visa and UOB Visa Signature, but the key thing to remember is unlimited. If you’re going to buy a big ticket item (a car advance, a fancy watch), this will come in handy.
For a complete list of formulas banks use to calculate credit card scores, see the following article.
Credit Score Needed For American Express Platinum
A complete list of ineligible transactions can be found in the AMEX T&C. The main exceptions to note are:
Note that points will be earned on charitable donations, educational institutions and government payments; The biggest question is whether AMEX cards will be accepted in the first place.
MR Points earned on the AMEX Platinum Credit Card never expire as long as the card account remains active.
Live The Platinum Life With American Express
(1) Some people can automatically combine their points on the back end with the more advantageous 400:250 exchange rate offered to AMEX Platinum Charge cardholders. If you are in this situation, your Points Account drop-down menu will look like this.
(2) Some people will not see their points in the back. Instead, they earn one point on the AMEX Platinum Charge and another on the AMEX Platinum Credit Card. If you are in this situation, the “Your Points Account” drop-down menu will have a “Select Accounts” button to switch between your points balances.
In this case, you can call customer service and manually combine your points and transfer them more profitably in a ratio of 400:250.
American Express Gold Card Review: Impressive Rewards For Foodies And Travelers
If you hold the AMEX Platinum Credit Card and the AMEX Platinum Fee at the same time, you can transfer all your MR points to nine airline partners at a rate of 400 MR points = 250 miles. The transfer ratio for hotel partners remains the same.
AMEX Platinum Credit Cardholders enjoy Love Dining discounts of up to 50% off food (excluding beverages) at over 30 restaurants and hotels across Singapore.
Each diner must order at least one qualifying meal (usually a main course) to receive the discount. Black dates apply to public holidays and the eve of public holidays, as well as special occasions such as Valentine’s Day.
American Express Platinum Credit Card Review: 
What I love about Love Dining is that it’s not 1-for-1, it’s 50% off. With 1-for-1, you only get the lowest priced item for free and everything else you buy is at regular price. With 50% off, you’ll save on everything (except drinks) from appetizers, entrees, desserts and more. Save up to $100 per visit to a higher-end restaurant, so you don’t have to order more expensive items because your companion ordered.
Unfortunately, the list of AMEX Love Dining hotels and restaurants seems to be dwindling all the time. In the past two years, we’ve seen Conrad Centennial, Capitol Kempinski, Fullerton Hotel, Fullerton Bay Hotel, TWG, Praelum Wine Bistro and Paulaner Brauhaus drop out of the program. Substitutes are not added at the same rate and tend to be nameless and low-light.
Additional cuts have been added to some menu items (especially more expensive items like Japanese A5 Wagyu at Japanese Sen), and it’s safe to say that love dining isn’t as appealing as it was pre-Covid.
American Express Enhances The U.s. Platinum Card® With New Suite Of Travel And Everyday Benefits
AMEX Platinum Credit Cardholders will also enjoy 1-for-1 drinks and special offers from Chillax. Here is the full list of participating outlets in 2022.
Like Love Dining, Chillax’s list of partners is constantly updated. Bars like Horse’s Mouth, Smoke & Mirrors, Monty, Portman, etc are all gone, and the current list is as small as I can remember.
However, I like to go to Anti:Dote and enjoy Chillax’s $17 two bottles of champagne for AMEX Platinum cardholders.
Card Showdown: American Express® Gold Card Vs. The Platinum Card® From American Express
AMEX Platinum Credit Card members can get free green fees at more than 40 golf clubs in Singapore, Cambodia, the Philippines, Malaysia, Indonesia, Thailand and Vietnam.
Participating clubs in Singapore include Keppel Club, Orchid Country Club, Sembawang Country Club and Warren Golf & Country Club. The full list can be found here.
Purchases made with the AMEX Platinum Credit Card are eligible for return guarantee bonuses and purchase protection.
Platinum Card Benefits
The Return Guarantee states that if an eligible item cannot be returned within 90 days of purchase, the insurer will repair the item for a maximum of S$800.
Purchase protection provides that the insurer will replace or repair an eligible item for S$10,000 if it is stolen or damaged within 90 days of purchase.
In some ways, the AMEX Platinum Credit Card (and all AMEX Platinum cards for that matter) is a huge disappointment. MR points do not expire and can be transferred
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