GST increase to 9% in 2024: impact on Amex cards’ annual fees

Above Image: American Express Platinum Reserve Card (Source: Amex Singapore website)

GST increase to 9% in Singapore

About a year ago, I wrote that Singapore would increase its GST (Government Service Tax) from 7% to 8% on 1st January 2023.

A year has passed since then. With effect from 1st January 2024, Singapore will experience another GST increase, from 8% to 9%.

Here’s how it will impact American Express cards: new (i.e. more expensive) annual fees in 2024.

• The Platinum Charge Card (from S$1728 to to S$1744)
• The American Express Platinum Reserve Credit Card (from S$540 to S$545)
• The American Express Platinum Credit Card (from S$324 to S$327)
• The American Express Gold Card (from S$181.68 to S$183.36)
• The American Express Personal Card (from S$121.12 to S$122.24)

American Express Platinum Charge Card (Source: Amex Singapore website)

• The American Express Singapore Airlines Krisflyer Credit Card (from S$178.20 to S$179.85)
• The American Express Singapore Airlines Krisflyer Ascend Credit Card (from S$340.20 to S$343.35)
• The American Express Singapore Airlines PPS Club Credit Card (from S$556.20 to S$561.35)
• The American Express Singapore Airlines Solitaire PPS Credit Card (From S$556.20 to S$561.35)
• The American Express Singapore Airlines Business Credit Card (from S$301.80 to S$304.59)

American Express Krisflyer Ascend Card. (Source: Amex Singapore website)

• The American Express True Cashback Card (from S$172.80 to S$174.40)
• The American Express Capitacard (from S$172.80 to S$174.40)

American Express Platinum Charge Card (Image source: American Express)

Inspired by this post and want to apply for an American Express credit card? Apply through one of my referral links and receive either bonus Membership Rewards points or statement credit:

• The Platinum Charge Card: Use this referral link and receive up to S$900 statement credits and Samsonite Choca Spinner 68/25 (worth S$700) when you apply and minimum spend criteria is met.
• The American Express Platinum Card: Use this referral link and receive up to S$350 statement credits when you apply and minimum spend criteria is met.
• American Express Singapore Airlines KrisFlyer Ascend Credit Card: Use this referral link and receive up to 38, 000 Krisflyer miles and S$50 statement credits when you apply and minimum spend criteria is met. 

Disclaimer: the views and opinions expressed on this page are that of Happy High Life and may not necessarily reflect the position of American Express. Happy High Life is not responsible for any decisions made by readers. The terms and conditions for each credit card's application and usage may be subject to change by American Express. Therefore, readers are recommended to check any matters with American Express or its partners; the list of all benefits of the Platinum Charge Card can be found here.

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