Wanderlust is one of the rare interests shared by every individual across the world. Travelling across borders also helps dissolve social and cultural limitations in our mindsets and gives us a much greater perspective of the world and how we relate to it. Unfortunately, not everyone is economically empowered to afford frequent air travel, or fortunate enough to earn corporate-sponsored trips, especially Singaporeans who are already entrapped by their sky high costs of living.
This is where credit cards can come to your rescue and give you the financial leverage to realize your globetrotting dreams. How so? Well, every major Singaporean bank offers a wide variety of travel-specific credit cards that allow you to redeem significant discounts on flight tickets and cushion your savings. Among them, the Singapore Airlines KrisFlyer Ascend Amex credit card is certainly one of the more prestigious and rewarding financial accessories to own for all travel enthusiasts.
What You Need to Qualify For Subscription
Before we delve into the treasure trove of benefits that you can avail through this card, it is essential to first be familiar with the qualifications that entitle you to a subscription:
- The principal cardholder must be at least 21 years of age
- Minimum income of S$50,000 for residents; S$60,000 for foreigners.
Breaking Down the Essential Benefits & Liabilities
As soon as you sign up for the Krisflyer Amex Ascend card, you can officially get started with digging into its attractive reward schemes. With an annual subscription fee of S$256.80 that is waivered for the first year, this card essentially helps you net 2 KrisFlyer miles for every S$1.20 spent on specific Singapore Airline tickets that can be purchased online, in-flight or at KrisShop. These accrued miles are immediately transferred to your account without being subjected to any conversion charges.
Additionally, Amex Ascend card holders will be treated to a nifty welcome bonus of 5,000 KrisFlyer miles upon the completion of the first ever transaction charged to their card. Supplementary cards have an annual subscription fee of S$80.25, which can be waivered permanently for the first 2 supplementary cards.
KrisFlyer Amex credit card holders may be subjected to a steep annual interest rate of 23.99% that may be subject to further compounding upon defaults in your bill payments. In case you fail to make the minimum monthly repayment amount of $50, you will be forced to pay a late payment penalty of S$50.
Shining a Light On the Consumer Perspective
However, the Krisflyer Amex credit card’s true savings potential can only be unleashed by hardcore frequent flyers, which means that the user will have to partake in a great deal of expenditure to reap the associated benefits. For instance, you can earn up to 15,000 and 35,000 Bonus KrisFlyer miles when you spend S$5,000 and S$10,000 respectively in the just first 3 months after your card has been approved.
Even the ‘monthly accelerator’ scheme requires you to shell a minimum amount S$1,000 per month to unlock a multiplier bonus of 300 KrisFlyer miles for every extra S$500 you spend in the same month. Hence, it is a card more worthwhile for slightly affluent working professionals that make frequent flight trips throughout the year.
Some of the other luxurious benefits associated with the KrisFlyer Ascend Amex card that will compliment your travel experience are:
- Complimentary lounge access to the SATS Premier Lounge in Singapore and all participating Plaza Premium Lounges across the world at least 4 times a year.
- A free night’s stay each year at any one of the 80 plus Millennium Hotels and Resorts worldwide.
Although there are more than 2,200 American Express Travel Service locations spread across 140 countries in the world to help make your trip more comfortable or assist with emergency card replacement, customers will be disappointed to know that this Amex card is not universally accepted by all merchants. Fortunately, the KrisFlyer Amex Ascend card does entitle you to a travel accidental insurance worth S$1 million along with additional Travel Inconvenience Insurance that covers issues like flight delays and baggage misplacements.
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