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💳 Heads up: Instarem Amaze restores cashback redemption options
Don't let the banner scare you, it's not changing that much.
After removing cashback redemption options in March 2025, Amaze has now brought them back at the following rates:
💰 1,000 IPs = S$5
💰 2,000 IPs = S$25 (capped at one redemption per calendar month)
Given these conversion rates, it's a far better idea to redeem IPs for cashback than KrisFlyer miles (1,200 IPs = 400 KrisFlyer miles).
But the bigger problem is that you are still limited to earning IPs on wallet-linked transactions, which are ineligible for credit card rewards. With the new cashback option, spending with a wallet-linked Amaze gets you a 0.63% rebate (0.5 IPs per S$1, assuming 2,000 IPs redemption). Even if you're a cashback user, you might as well spend with the Mari Credit Card for 1.5% cashback and no FCY fees.
Remember, you must spend at least S$10 in a single transaction to earn IPs!
Another new feature is the referral system, which gives you and your friend 2,000 IPs each when your friend completes a qualifying transaction (my personal code is 7HK2A2, I'm seeing if they can do something better for The MileLion community).
More details in tomorrow's blog post.