What is Instarem Amaze Card?
Instead of carrying multiple credit cards, the Instarem Amaze card is a payment processor in the form of a physical card that helps you consolidate them. This card acts like a central hub, letting you link up to 5 of your Mastercard debit or credit cards for easy spending. It also has a built-in Amaze wallet for additional payment options. We talk about Amaze card so much because it helps us earn more rewards for local and overseas purchases, by keeping rewards offered by your linked cards. I did a tiktok video previously about it – Citi Rewards + Amaze: How it works (the same applies for the above mentioned cards)
Instarem Amaze Card App:
With a few taps (even overseas!), you can switch between:
- Linked Credit/Debit Cards: Choose the card you want to use for a specific purchase. The app debits the transaction amount directly from your chosen card.
- Amaze Wallet: Top up this digital wallet beforehand and use it for cashless transactions overseas and earn cashback in the form of InstaPoints.
P.S: While the founder’s edition card exists (card as shown below), new applicants receive the standard turquoise version. Both offer the same functionality.
Q: Can’t I just use the credit card directly when i’m out or overseas?
Many cards, like Citi Rewards, offer bonus miles/points for online purchases. But using them at physical stores often misses out on these perks. The Amaze card bridges this gap. By linking it to Citi Rewards, it can convert restaurant purchases (typically offline) into online transactions, letting me earn those sweet 4 miles per dollar!. But with the recent update, I wouldn’t recommend using Citi Rewards x Amaze for offline local (SGD) spend because of the 1% fee charge. Check out “Citi Rewards x Amaze – What has Changed?” below.
However, this is still useful for Overseas Spends. As we all know, overseas transactions with your regular credit card often incur hefty foreign currency fees (3.25%), however, the Amaze card offers competitive exchange rates (2-2.5% spread), saving you money on every overseas purchase!
That is the reason why there are the Best Cards To Pair With Amaze which are Citi Rewards, Maybank Family & Friends and OCBC Rewards for various benefits.
If you are new to the miles game, you should definitely sign up for the Citi Rewards as it is the most versatile miles card in the market to allow you to earn miles on almost everything.
Amaze Card now supports Apple Pay
Recently, Amaze only supports Google Pay, but now, Amaze users can link their Apple Pay wallet to add cards and make payments. This is good news to get around the limitations on in-app mobile payments with the Citi Rewards Card.
The Difference between Instarem Amaze Card and Amaze Wallet:
- Amaze Card: Think of it as a universal adapter for your credit cards. Link up to 5 Mastercards and use the Amaze card for payments. You’ll still earn rewards offered by your linked cards!
- Amaze Wallet: This acts like a digital piggy bank for foreign currency. Top it up with various currencies and lock in favourable exchange rates when you find a good deal. Use it later for hassle-free cashless payments abroad. Imagine having a personal currency exchange assistant who always offers the best rates – that’s the Amaze wallet! You can read my post on Travel Spending Cards for more.
Amaze Card | Amaze Wallet | |
Benefits | • Earn card reward points with Citi Rewards, Maybank F&F, OCBC Rewards (must use correctly) • Get lowered fx spread of 2+% instead of usual bank card’s FX markup of 3.25% to 3.75% | • Overseas ATM Withdrawals • Exchange and hold 11 currencies: SGD, MYR, THB, USD, EUR, CHF, NZD, CAD, AUD, GBP, JPY BUFF: Wallet limit of S$15,000 per transaction, up to S$75,000 in calendar year NEW! Set spend limits by daily or per-transaction for security NEW! Transfer balance from amaze wallet directly to bank account |
Rewards | NERF: No more Instapoints issued | BUFF: Earn 0.5 Instapoints per dollar on local or overseas spend, no cap |
Fees | NERF: 1% fee on all SGD spends | • Fee-free on currency exchanges in wallet • 2% ATM withdrawal fee |
More detailed information on the updates below:
Effective 10 March 2025, there has been some MASSIVE updates:
Instarem Amaze is implementing key changes that reduce its benefits, including a 1% fee on all SGD-linked card transactions and the removal of Instapoints-to-cashback conversions. Below is a summary of changes:
AMAZE WALLET | BEFORE MARCH 10 | AFTER MARCH 10 |
Benefits | • Overseas ATM Withdrawals • Exchange and hold 11 currencies: SGD, MYR, THB, USD, EUR, CHF, NZD, CAD, AUD, GBP, JPY • Wallet limit of S$3,000 per transaction, up to S$20,000 in a calendar year | • BUFF: Wallet limit of S$15,000 per transaction, up to S$75,000 in calendar year • NEW! Transfer balance from amaze wallet directly to bank account • NEW! Set spend limits by daily or per-transaction for security |
Rewards | Earn 0.5 Instapoints per dollar on overseas spend, capped at 500 Instapoints per month | BUFF: Earn 0.5 Instapoints per dollar on local or overseas spend, no cap |
Fees | • Fee-free on currency exchanges in wallet • 2% ATM withdrawal fee | • Fee-free on currency exchanges in wallet • 2% ATM withdrawal fee |
AMAZE LINKED CARD | BEFORE MARCH 10 | AFTER MARCH 10 |
Benefits | • Earn card reward points with Citi Rewards, Maybank F&F, OCBC Rewards (must use correctly) • Get lowered fx spread of 2+% instead of usual bank card’s FX markup of 3.25% to 3.75% | No changes |
Rewards | Earn 0.5 Instapoints per dollar on overseas spend, capped at 500 Instapoints per month | NERF: No Instapoints issued |
Fees | • 1% fee on SGD spends >S$1,000 (first S$1,000 free) • 1% fee on spends on MCC 6540 (eg. Grab topups, e-wallet topups) | NERF: 1% fee on all SGD spends |
1. 1% Fee on All SGD Transactions (Min S$0.50) – Nerf
A 1% fee (minimum S$0.50) will now apply to all SGD transactions made via the Amaze Linked Card, with no more exemptions for the first S$1,000. This impacts users leveraging Amaze with Citi Rewards for local offline spending, such as dining, shopping, and Kris+ transactions. However, online SGD transactions remain unaffected if the Citi Rewards card is used directly.
2. Transfer Amaze Wallet Balance to Bank Account – Yay
Users can now withdraw funds from their Amaze Wallet to their bank accounts, addressing a major past limitation.
3. Instapoints (IP) No Longer Convertible to Cashback – Nerf
From March 10, Instapoints can only be converted to KrisFlyer miles at a poor rate of 1,200 IP for 400 miles (3 cents per mile). Cashback conversion is no longer an option. Users should redeem IP before March 10 while cashback is still available. Alternatively, IP can be used for remittance discounts (400 IP for S$5 off a S$500+ transfer).
4. Earn Instapoints with No Cap on Amaze Wallet – Maybe Not
Instapoints earning is now uncapped at 0.5 IP per S$1 on both local and overseas spend, but this translates to only ~0.25% cashback, making it less competitive than other credit cards.
5. No More Instapoints for Linked Card Transactions – Nerf
Earning Instapoints for transactions made via linked credit cards is removed. While this slightly affects foreign currency spending rewards, the core benefit of using Amaze for forex savings remains intact.
These updates significantly alter Amaze’s value proposition, particularly for cashback users.
Citi Rewards x Amaze – What has Changed?
With Amaze’s latest update, all SGD spending through Amaze + Citi Rewards will now incur a 1% fee (or a S$0.50, whichever is higher) from the very first dollar spent. No more free “first S$1,000”. As a result, the cost per mile increases:
Transaction Size | After Nerf | Cost per mile |
Below S$50 | min S$0.50 fee per transaction | max 12.5 cents per mile (too ex!) |
Above S$50 | S$0.50 onwards | 0.25 cents per mile |
Effective Earn Rate on Citi Rewards + Amaze (with 1% Fee for transactions above S$50):
Depending on Your Mile Valuation:
Mile Valuation | Adjusted Earn Rate |
1 cent per mile | 3 mpd |
1.25 cents per mile | 3.2 mpd |
1.5 cents per mile | 3.33 mpd |
As you can see, the nerf lowers the overall miles earned on any SGD transactions above S$50, making the Citi Rewards + Amaze combo much less attractive for local spending.
Citi Rewards for SGD Spending (Without Amaze)
Despite the Amaze nerf, the Citi Rewards Card remains a strong option for online and selected retail spending, still offering 4 miles per dollar on many everyday transactions:
1. Almost All Online Spending (except Travel):
- Apps: FairPrice, ShopBack, FavePay
- Online food delivery & ride-hailing/taxi services
- Subscription services (Netflix, Spotify, Telco bills)
- BNPL via Atome (MCC 5999)
- Any non-travel online spend
Reminder: Enter Citi Rewards card details directly to be safe.
What to Avoid:
- Kris+ app
- Those in the exclusion list
- Payments via Apple Pay/Google Pay (mobile wallets)
- Travel-related online spending (including SMRT, categorized under Passenger Railways)
2. Citi Rewards for Offline Retail Shopping
Here are the eligible MCCs:
Merchant Category Code (MCC) | Description |
5311 | Department Stores |
5611 | Men’s and Boy’s Clothing and Accessories Stores |
5621 | Women’s Ready to Wear Stores |
5631 | Women’s Accessory and Specialty Stores |
5641 | Children’s and Infant’s Wear Stores |
5651 | Family Clothing Stores |
5655 | Sports and Riding Apparel Stores |
5661 | Shoe Stores |
5691 | Men’s and Women’s Clothing Stores |
5699 | Miscellaneous Apparel and Accessory Shops |
5948 | Luggage and Leather Goods Stores |
Citi Rewards + Amaze for Foreign Currency Spend (Still Viable!)
Even after the nerf, Citi Rewards + Amaze remains useful for overseas transactions, reducing FX fees from 3.25% to 2% while maintaining 4 miles per dollar earnings. This strategy is unchanged.
Common Question: Is Citi Rewards + Amaze still worth it for local offline spend?
Yes, but only for transactions above S$50. A minimum fee of S$0.50 (or 1%) applies, making the cost per mile 0.25 cents—still a good deal. For spends below S$50, it’s not worth it. I’ll still probably use it when I spend above S$50 or after maxing out my other 4 miles per dollar card, why? because of these two reasons: (1) Access to Infinity Mileagelands as Citi is one of three banks (along with HSBC & AMEX) that allow transfers, offering great redemption value and for (2) Building Citi Rewards Points— With 235,000 points, stopping now would be a waste, and the cost per mile is still reasonable.
Summary of Changes (Citi Rewards Earn Rates):
Scenarios | Before Nerf | After Nerf |
Offline Spend (e.g., dining, doctor’s visit) | 4 mpd (Citi Rewards with Amaze) or 0.4 mpd (Citi Rewards without Amaze) | 3–3.33 mpd due to 1% fee (Citi Rewards with Amaze) (for transactions above S$50) (Only this is affected!) or 0.4 mpd (Citi Rewards without Amaze)(unchanged) |
Online Spend | 4 mpd (Citi Rewards without Amaze) | Still 4 mpd (Citi Rewards without Amaze) (unchanged) |
Offline Shopping Spend (Selected MCCs) (MCCs include department stores, bags, shoes, clothes) | 4 mpd (Citi Rewards without Amaze) | Still 4 mpd (Citi Rewards without Amaze) (unchanged) |
FCY Spend | 4 mpd, 2% FX fee (Citi Rewards with Amaze) | Still 4 mpd, 2% FX fee (unchanged) |
Local (SGD) Offline Transactions:
- Citi Rewards: Earns 4 miles per dollar, capped at S$1,000 per statement period.
- Amaze Card: Charges a 1% fee on local spending exceeding S$1,000 per calendar month.
- Key Difference: Citi Rewards resets per statement period, while Amaze resets per calendar month, affecting your strategy for maximizing rewards without incurring fees.
Maximizing Citi Rewards alone (Without Amaze)
- If your statement date is 11th of the month, your S$1,000 spending cap runs from the 12th to the 11th of the following month.
- Example: If you need to spend S$2,000, split it as follows:
- S$1,000 on the 9th
- S$1,000 on the 12th
- This ensures you earn 4 miles per dollar on the full S$2,000.
Optimized Spending with Citi Rewards + Amaze
- S$2,000 local online spending? Use Citi Rewards alone.
- S$2,000 offline spending (back-to-back months)?
- Spend S$1,000 via Amaze + Citi Rewards (12 June – 30 June)
- Spend S$1,000 via Amaze + Citi Rewards (12 July – 31 July)
No Major Impact for Other Cards
- OCBC Rewards and Maybank Family & Friends cards aren’t affected, as their rewards don’t depend on online vs. offline spending.
Important Notes
- Alerts via email and push notifications when nearing the S$1,000 fee-free cap.
- The S$1,000 cap applies to local spending, including refunds and pre-authorized amounts.
- Amaze Wallet users: All local transactions remain fee-free when linked.
- Foreign currency purchases abroad don’t count toward the S$1,000 cap and aren’t subject to the 1% fee.
Example:
Domestic Fee Charged | ||||
Amaze Transactions in the Month of April | Total Domestic Spend in April | Amaze Linked to Card | Amaze Linked to Wallet | |
Scenario 1 | – 1st April: S$300 on NTUC – 15th April: S$500 on Uniqlo | S$800 | No Fees | No Fees |
Scenario 2 | -15th April: S$2,000 on Uniqlo | S$2,000 | S$10 on Uniqlo Transaction (1% of S$1,000) | No Fees |
Scenario 3 | – 1st April: S$500 on NTUC – 15th April: S$1,500 on Uniqlo – 20th April: S$500 on Grab Wallet Top-Up | S$2,500 | S$10 on Uniqlo transaction (1% of S$1,000) S$5 on Grab Wallet (1% of S$500) | No Fees |
How To Apply an Instarem Amaze Card:
- 1: Download the Instarem app and create an account
- 2: Link your mastercard to amaze
- 3: Start using your card
- Receive bonus instapoints with code “IJUSTTRYLAH”
My Take:
Instarem Amaze has introduced updates with both pros and cons. Users can now transfer funds from their Amaze Wallet to a bank account, but a 1% fee applies to SGD transactions with a linked card, and Instapoint earnings have been removed. While still useful for overseas spending, it’s less beneficial for local offline purchases.
💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
