Thanks to Joe for highlighting this in the group chat!
It doesn’t seem like an early April’s fool’s prank – not that it would be an amusing one – but Instarem is halving the cashback amount of
the Amaze card from 1% to 0.5% from 1st April 2022 onwards. The maximum amount of cashback earned per quarter is going to be S$50, down from S$100.
On top of that, the minimum spend needs to be S$1,500 in a calendar quarter, up from S$500, and each transaction now needs to be at least S$10 to qualify.
This follows the change earlier this year where more MCCs were added to its cashback exclusion list.
Changes
|
Before 1st April 2022 |
1st April 2022 Onwards |
| Cashback Rate |
1% |
0.5% for SGD transactions
1% for non-SGD transactions |
| Cashback Cap |
S$100 per quarter |
S$50 per quarter |
| Minimum Spend Per Quarter |
S$500 per quarter |
S$1,500 per quarter |
| Minimum Spend Per Transaction |
S$5 |
S$10 |
While these are pretty significant downgrades,...
