Review: Amex CapitaCard – 1.5% to 9.28% Rebate at CapitaLand Malls

There are so many types of credit cards available that it can be overwhelming. Broadly, there are two main types of rewards – miles, and cashback. Then, they can be further categorised into conditional and unconditional cards.

The Amex CapitaCard actually falls into a third category. Instead of miles or cashback, it gives CapitaStar STAR$ – points for CapitaLand’s rewards programme. As far as conditions go, CapitaCard is pretty simple to get, but I would say it really shines as a situational card, because I recently got such a greal deal out of this, but more on that later.

ProviderAmerican Express
Earns CapitaStar STAR$
Earn Rate– 5 STAR$ per $1 outside participating CapitaLand Malls (0.5% to 0.71% rebate*)

– 15 STAR$ per $1 in participating CapitaLand Malls (1.5% to 2.14% rebate*)

– 30 STAR$ per $1 in participating merchants (3% to 4.29% rebate*)

– 65 STAR$ per $1 in participating merchants (6.5% to 9.28% rebate*)
Conditions– Spend at participating merchants at CapitaLand Malls
Limits– 3X/6X capped on $1,200 spending per month
*with SP GreenUP

How much is 1STAR$ worth?

There are two ways to make use of your STAR$.

  1. You can simply spend your STAR$ at participating CapitaLand merchants
  2. You can redeem it for various merchant vouchers, including eCapitaVouchers

When you do (1), your STAR$ are worth 0.1 cents each.

When you do (2), your STAR$ vary in value depending on what you redeem it for.

Complete your SP GreenUP!

If you haven’t already completed SP GreenUP, it’s a bit of a hassle to achieve, but it supercharges this card and any STAR$ you will earn under the CapitaStar programme or through things like converting your Grab points. Read my guide here to complete GreenUP.

Using Star$ DirectlyRedeeming for eCapitaVoucher
Value of each STAR$0.1 cents0.1 cents 0.143 cents
ConditionsNo minimumNeed to redeem in blocks of 5,000 3,500 STAR$

Completing GreenUP supercharges your STAR$ to as much as 0.143 cents each, allowing you to convert 3,500 STAR$ into $5 eCapitaVoucher, instead of the usual 5,000 STAR$.

It is also worth noting that there may be other redemptions on GreenUP’s catalogue that may catch your fancy. I recently redeemed $5 voucher for an eatery I like for 3,150 STAR$, which further increases the value of my STAR$.

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Different earn rates

The way I see it, there are currently 4 different earn rates for this card.

Tier 1: Spending outside CapitaLand Malls (1X STAR$ = 5 STAR$)
Just don’t bother with using this card outside of CapitaLand Malls. 5 STAR$ per $1 spent translates into 0.5% to 0.71% rebate at best. Even some debit cards have higher earn rates.

Tier 2: Spending in participating merchants and buying eCapitaMall vouchers (3X STAR$ = 15STAR$)
Although it is confusingly named 3X STAR$, you get 15 STAR$ per $1 spent at participating CapitaLand Malls (see list here).

This is equivalent to a 1.5% to 2.14% rebate (in form of eCapitaVouchers). Not the worst, but it’s not the best value you’d get from this card.

Tier 3: Spending at least $20 at participating merchants until 30th June 2021 (6X STAR$ = 30STAR$)
Until the end of June 2021, you get 30STAR$ per $1 spent at participating merchants in CapitaLand Malls, provided you spend at least $20 and up. This is pretty decent rate of 3% to 4.29% card, and it’s pretty fuss-free since there’s no monthly minimum spend aside from making sure that each receipt is at least $20.

This was previously until the end of 2020, so it seems possible for it to be extended.

Tier 4: Spending at selected merchants until 30th June 2021 (additional 10X STAR$ = 65 STAR$)
This is where the earn rate goes to an impressive 6.5% to 9.28% rebate. Unfortunately, the list of selected merchants is really short, and many curiously located in Bugis+/Bugis Junction) and doesn’t seem to include many common merchants. Nonetheless, this earn rate is quite hard to beat, particularly if you have stuff to buy from Eu Yan San 🤷🏻‍♂️

Scan your CapitaLand Mall receipts
These are all on top of the STAR$ you’ll earn when you scan your receipts with the CapitaStar app, which gives 5 STAR$ per $1 spent (1STAR$ for supermarkets and food courts).

Sign-up promo


New Amex customers
Apply here and receive 120,000 bonus STAR$ upon spending S$2,400 on eligible goods and services within 2 months of card approval

Existing Amex customers
Apply here and receive up to 20,000 bonus STAR$ upon spending $2,000 at participating CapitaLand merchants (fees shall be charged if the card is cancelled within 6 months of card approval)

New cardholders further receive a pair of Sennheiser CX350BT Wireless In-Ear Headphones (worth S$149) when you spend S$3,000 in your first 3 months.

Prefill up to 50% of the application form with MyInfo and get S$20 Dairy Farm Group vouchers upon first spend.


I recently applied for this card out of curiosity (and this review), and I must say it has presented one of the best promos I’ve seen in a while: getting 10,000 STAR$ for every $100 eCapitaVoucher purchased (it’s now over). This was on top of the 1,500 STAR$ normally awarded, making a total of 11,500 STAR$ which I can convert to more than $16 of eCapitaVouchers.

On top of that, CapitaStar app was incidentally also giving $10 bonus eCapitaVoucher per $100 purchased (also sold out). That makes a total of $26 extra per $100 purchased, and I couldn’t be happier.

It’s not the most versatile of cards and probably won’t be the most used, but it’s definitely a great card to hold, even if it’s for the occasional promo. It’s a highly situational card, but one that you want to have when the situation calls for it.


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The good:

  • No minimum spend
  • Gives high, unbeatable earn rates on selected merchants
  • CapitaLand Malls are numerous
  • Great occasional promos

The bad:

  • A very situational card

The ugly:

  • This is at best a 7★ card, but I just got a 10★ deal from buying eCapitaVouchers. How do I assign a star rating?!

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