The American Express Singapore Airlines Business Credit Card, once lauded for its generous rewards, is now facing scrutiny for diminished benefits and increasing costs, according to a recent review by The MileLion. What was once a standout offering has grow, for many, a less compelling option in the competitive landscape of business credit cards.
The card’s decline began with the removal of perks previously enjoyed by cardholders. A first-year annual fee waiver, which effectively provided a complimentary Accor Plus Explorer membership, is no longer available. Previously, cardholders could earn miles on a wide range of expenses, including charitable donations, school fees, and even utility bills. A particularly attractive feature allowed users to earn miles by topping up their GrabPay accounts and using those funds to pay taxes and contributions to the Central Provident Fund (CPF), a practice that spurred some to register businesses solely to qualify for the card.
These benefits have been steadily eroded. The ability to earn miles on GrabPay top-ups has been eliminated, and earn rates have been reduced. Lounge access, once a standard perk, has been removed entirely. Adding to the discontent, American Express increased the annual fee to S$400 in April 2025, a significant jump from the previous S$304.59.
Despite these changes, the card retains some appeal, particularly for those with limited alternatives. The MileLion review notes that it remains a “decent corporate card,” suggesting its value lies primarily in comparison to other options available to businesses. However, for individuals able to utilize personal credit cards for business spending, the AMEX HighFlyer Card offers little incentive.
Currently, the card offers up to 8 HighFlyer points per dollar spent on eligible Singapore Airlines and Scoot flights, and 1.2 HighFlyer points per dollar on all other eligible purchases. Cardholders can convert these points to KrisFlyer miles at a 1:1 rate, up to a maximum of 150,000 miles annually. A welcome bonus of up to 31,200 HighFlyer points is available, contingent upon meeting specific spending requirements and paying the annual fee.
The card requires an annual income of S$30,000 and a valid Unique Entity Number (UEN), necessitating business registration with ACRA. Even as a minimum turnover or number of employees is not required, the UEN is a prerequisite for application. Supplementary cards are available, with the first two offered at no additional cost, and subsequent cards incurring a fee of S$100.85.
Beyond rewards, the card offers a fast-track to KrisFlyer Elite Gold status for those who spend at least S$15,000 on Singapore Airlines or Scoot tickets within the first year of card membership. A complimentary ALL Accor+ Explorer membership is also included with annual fee payment, providing benefits such as free nights and discounts at Accor hotels. However, maintaining the Accor Plus membership now requires continued annual fee payment.
The AMEX HighFlyer Card’s future remains uncertain, as its value proposition continues to be reassessed in light of evolving benefits and increasing costs. The card’s trajectory serves as a cautionary tale, illustrating how quickly rewards programs can change and highlighting the importance of carefully evaluating credit card options.
