American Express Singapore Airlines Business Credit Card aka AMEX HighFlyer Card:
The AMEX HighFlyer Card has progressively lost some of its allure. While there may still be a case for considering it as a “one-year card” due to periodic promotional offers, it no longer possesses the enchantment it once wielded.
What do these ratings mean?
The AMEX HighFlyer Card might be worth a one-year punt, but otherwise isn’t quite the magic wand it used to be.
👍 The good
- Highest earn rate for local general spending
- Accor Plus membership with one free hotel night
👎 The bad
- No more first-year fee waiver
- No more rewards for GrabPay top-ups
- Limited to transferring 150,000 miles per year, and 30,000 miles per account
Here’s a detailed summary of the AMEX HighFlyer Card:
- Income Requirement: S$30,000 per annum
- Points Validity: Points are valid for 3 years
- Annual Fee: S$301.80
- Minimum Transfer: Not Applicable
- Miles Earned with Annual Fee: None
- Transfer Partners: HighFlyer
- Foreign Currency (FCY) Fee: 2.95%
- Transfer Fee: None
- Local Earn Rate: 1.8 miles per dollar (mpd)
- Points Pooling: Not Applicable
- FCY Earn Rate: 1.8 miles per dollar (mpd)
- Lounge Access: Yes
- Special Earn: Up to 8.5 mpd on Singapore Airlines (SIA) tickets
- Airport Limo Service: No
The AMEX HighFlyer Card necessitates an annual income of at least S$30,000 per annum, in compliance with the minimum income requirement set by the Monetary Authority of Singapore (MAS) for holding a credit card in the country.
However, the primary obstacle lies elsewhere. Since this is a business credit card, obtaining it requires a valid Unique Entity Number (UEN). This entails officially registering your business with the Accounting and Corporate Regulatory Authority (ACRA), regardless of whether it’s a sole proprietorship, limited liability partnership, or a company.
American Express doesn’t impose any minimum turnover or employee count criteria. So, if you’re involved in a home-based business, providing tuition, or engaged in any other side venture, registering your business with ACRA will qualify you to apply for the card.
Furthermore, the S$30,000 minimum income doesn’t necessarily need to originate from the registered business itself. For instance, you could earn S$30,000 from your primary job with Company A while simultaneously running a separate side business under your own Company B. In such a scenario, you can apply for an AMEX HighFlyer Card on behalf of Company B, utilizing your income from Company A to meet the eligibility criteria.
How much is the AMEX HighFlyer Card’s annual fee?
The AMEX HighFlyer Card imposes an annual fee of S$301.80 for principal cards and S$99.92 for supplementary cards.
While it’s no longer possible to have the first year’s fee waived, the fees for subsequent years can still be waived, pending approval. I’ve been successful in obtaining fee waivers for the previous two years, thanks to an annual spending range of approximately S$30,000 to S$40,000. Most of this spending was directed towards GrabPay top-ups and donations. However, recent reports indicate that AMEX is becoming stricter with their fee waiver criteria, so they might not be as generous as they were in the past.
What sign-up bonuses or gifts are available?
|American Express Singapore Airlines Business Credit Card Promotion|
|Offer 1: Get up to 74,400 HighFlyer points (worth S$708), Sign Up here|
|– Valid for new American Express credit card members only|
|– Min. spend of S$4,000 for two consecutive 3-month periods from card approval required|
|– 30,000 HighFlyer points awarded for S$4,000 min. spend within first 3-month period (months 1 to 3) from card approval|
|– Additional 30,000 HighFlyer points for S$4,000 min. spend within second 3-month period (months 4 to 6) from card approval|
|– Receive 14,400 HighFlyer points for spending over S$8,000 (calculated at 1.8 HighFlyer points per S$1 spent)|
|– Promotion valid until 3 October 2023|
|Terms and Conditions|
|Offer 2: Get a Samsonite Choca Spinner 68/25 (worth S$700) and 9,000 HighFlyer points, Sign Up here|
|– Valid for new American Express cardmembers only|
|– Apply for the card, pay the annual fee (S$301.80), and make a min. spend of S$500 within 30 days of card approval|
|– Promotion can be combined with existing AMEX SIA BCC welcome offer|
|– Promotion valid until 3 October 2023|
|Terms and Conditions|
|Card Features & Benefits|
|– Earn up to 8.5 HighFlyer Points per S$1 spent on eligible Singapore Airline Group flights (8.09% cashback)|
|– Earn 1.8 HighFlyer Points per S$1 spent on all other eligible purchases (1.7% cashback)|
|– Flexible rewards redemption with no caps, blackout periods, or restrictions|
|– Complimentary HighFlyer Membership with no membership fees or minimum spend requirements|
|– Simplified management through account administrator option|
|– Accelerate to KrisFlyer Elite Gold (KFEG) status with S$15,000 spending with Singapore Airlines Group in the first 12 months|
|– Receive a complimentary annual night stay and up to 50% dining discounts with Accor Plus across Asia Pacific (worth $418 annually)|
|– Priority Pass membership worth $221 annually (provides access to 1200 airport lounges worldwide) with 2 complimentary visits per year for you or a guest|
|– Open to individuals with a registered business in Singapore|
|– Min. income requirement for Singaporeans/PRs: S$30,000|
|– Min. income requirement for Foreigners: S$60,000|
|– Promotion gift will be fulfilled by AMEX|
These additional bonuses are in addition to the standard HighFlyer points, which are earned at a rate of 1.8 HighFlyer points per S$1 spent (equivalent to 14,400 HighFlyer points for Offer 1 and 9,000 HighFlyer points for Offer 2). Importantly, there is no stipulation that you must be a new AMEX customer, and the offer is applicable even if you already possess an existing AMEX consumer card. However, individuals who have previously canceled the AMEX HighFlyer Card for the same company are not eligible for these promotions.
The marketing of the AMEX HighFlyer Card boasts an earning potential of up to 8.5 HighFlyer points per S$1 spent on Singapore Airlines and Scoot tickets. However, this figure requires a closer examination.
In reality, the card itself only yields 2.5 HighFlyer points per S$1 spent. The remaining 6 HighFlyer points are composed of:
1. The standard 5 HighFlyer points per S$1 awarded to all HighFlyer members.
2. A bonus 1 HighFlyer point per S$1 awarded exclusively to HighFlyer members with the AMEX HighFlyer Card.
It’s important to note that these 6 HighFlyer points per S$1 are not granted for tickets issued in the V or K booking classes (Economy Lite). Tickets issued in the Q or N booking classes (Economy Value) are eligible for only 50% accrual of HighFlyer points.
Furthermore, HighFlyer points are not earned on award redemptions. So, if you’re utilizing the AMEX HighFlyer Card to cover taxes and surcharges on award tickets, you’ll earn just 2.5 miles per dollar spent.
What else can you do with HighFlyer Points?
Aside from using HighFlyer Points for KrisFlyer miles redemptions, you also have the option to utilize them in the following ways:
- Paying for Singapore Airlines tickets and add-ons at a conversion rate of 1,050 HighFlyer Points = S$10.
- Redeeming Scoot e-vouchers with a conversion rate of 1,050 HighFlyer Points = S$10.
- Exchanging HighFlyer Points for lounge passes at a rate of 5,000 HighFlyer Points for a single lounge pass.
- Attaining KrisFlyer Elite Gold status for a 12-month duration by redeeming 150,000 HighFlyer Points.
AMEX HighFlyer Cardholders who make a minimum spend of S$500 on Singapore Airlines or Scoot transactions during their inaugural membership year will be rewarded with an extra 5,000 HighFlyer points.
Moreover, AMEX HighFlyer Cardholders who reach a minimum spend of S$10,000 on Singapore Airlines or Scoot transactions in any membership year will be entitled to a bonus of 15,000 HighFlyer points.
In simpler terms, if you spend S$10,000 on Singapore Airlines or Scoot transactions:
– You will earn 20,000 bonus HighFlyer points in your first membership year.
– In your second and subsequent membership years, you will receive 15,000 bonus HighFlyer points.
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