Instarem sent Amaze cardholders an email today to announce upcoming changes to its terms and conditions.
If you have not heard about the Amaze card, read about it here: Amazing: Get 4 MPD and 1% cashback without FX fees with the Amaze card
Key changes
The new terms and conditions will come into effect on 1 April 2022.
| Till 31 March 2022 | From 1 April 2022 | |
|---|---|---|
| Cashback | 1% | 0.5% for SGD, 1% for non-SGD |
| Cashback cap (per quarter) | S$100 (S$10,000 spending) | S$50 (S$5,000 – S$10,000 spending) |
| Minimum spend (per quarter) | S$500 | S$1,500 |
| Minimum spend (per transaction) | S$5 | S$10 |
Is this a big deal?
As a refresher, here are the key benefits of the Amaze card:
- Amaze card turns all transactions “online”, giving you 4 MPD on almost all offline transactions, when linked with DBS Woman’s World or Citi Rewards cards.
- Amaze card converts foreign currency spending to SGD at a good rate, saving you about 3% worth of fees on your credit cards.
You will still be receiving a 1% cashback on foreign currency spending, albeit with a lower cap and increased minimum spending.
As long as the two key benefits remain untouched, the Amaze card is still EASILY the best card in Singapore right now.
Lower credit card foreign transaction fee by ~1%, turn in-person transactions online
Card details
Key details of the Amaze Card
Card rating :
Ease of use :
Minimum annual income: Nil
Annual fee: No annual fee, ever
Turn in-person transactions online to earn bonus earn rate on eligible credit cards
Lower credit card foreign transaction fee by ~1%
No foreign transaction fees
⚠️ Card-linked transactions only work best with Mastercards from selected banks like Citibank, Maybank and OCBC
⚠️ 1% fee (min. 50 cents) on card-linked transactions in SGD
🎁
Bottom line
The Amaze card is a little less amazing right now but this is not horrible news at all. But if you’ve followed all the devaluations of the Grab card and Razer card in recent years, you can probably guess where this is going. Enjoy it while it lasts!
