Nerfed: AMEX True Cashback card to stop awarding cashback for Grab wallet top-ups

American Express True Cashback cardholders have enjoyed earning1.5% cashback on Grab wallet top-ups, to essentially earn the cashback amount on certain spending categories like Insurance, School and Hospital fees, where AMEX cards are not accepted.

Soon, this will no longer be possible.

No more cashback for Grab wallet top-ups

From 4 April 2023, cashback/points will no longer be awarded for Grab wallet top-ups made with the AMEX True Cashback and AMEX Highflyer card.

Click here for the updated list of exclusions on AMEX cards.

Alternative for Grab wallet top-ups

Not too long ago, UOB announced that it will drop the cashback on Grab wallet top-ups from 1.7% to 0.3%. At the moment, this is the only card that offers cashback for this purpose.

UOB Absolute Cashback Card

Suitesmile card rating:

Sign-up bonus

$300 cash

more infoGet $300 cash when you apply successfully as one of the first 100 new credit card customer of UOB. You will also qualify if you have not held a UOB card in the past 12 months.

To receive the sign-up bonus, a minimum spend of $1,000 per month, for the first 2 consecutive months is required.

Key benefit

Get 1.7% cashback
on all spending

more infoReceive 1.7% cashback on almost everything. No minimum spend required.

Annual fee

$192.60
(first year waived)

more infoAnnual fee is automatically waived for the first year. Ask for an annual fee waiver every year after that. We do not recommend paying for this card's annual fee as there are other credit cards offering similar benefits. If fee waiver request is not granted, we suggest that you cancel the card.

Min. Income
requirement

$30,000/yr

more infoYou will have to submit prove of income during the application process.

Apply now

Why we like this card

Get 1.7% cashback from payments to any merchant that accepts AMEX cards.

Bottom line

From 4 April 2023, AMEX Singapore cardholders can no longer earn cashback/points across all cards.

UOB Absolute Cashback card remains as the only card that offers this benefit. But, with a mere 0.3% cashback, is it still worth keeping the card?

Is the Grab card still useful? Not to me, and I couldn’t be happier to have $0.78 in my Grab wallet.

It’s been a fun ride. I’m sure some of you remember earning 10% cashback and 4 MPD on Grab wallet top-ups, which can then be transferred to Revolut, where cash can be withdrawn overseas, for free.