Standard Chartered Rewards+ Credit Card
Standard Chartered Rewards+ Credit Card
- S$1 = 10X Points
- Overseas Spending Rewards
- S$0
- Min. Spend per month
- 3.50%
- Foreign Transaction Fee
Get S$230 Cash via PayNow or 2,990 SmartPoints when you apply and spend a min. of S$500 in eligible transactions within 30 days from card approval date. T&Cs apply. PLUS stand a chance to win a Porsche Taycan Base (model year 2025) in SC Million Reasons to be Happier! T&Cs apply.
Additionally, enrol in our Rollin’ Rewards campaign today and stand a chance to score an additional 7,460 SmartPoints. That’s a grand total of 10,450 SmartPoints if you apply today.
Are you eligible?
Promotion is valid from 01-November-2024 to 30-November-2024
Applicable for New-to card holders only
Customers need to apply through MoneySmart to be eligible
Spend a minimum of S$500 in eligible transactions (on either the physical or digital version of the Credit Card) within 30 days from the Credit Card’s approval date
Log into your MoneySmart account and submit your claim by 30th December 2024
What you need to know
[Rollin’ Rewards] Enrol in our Rollin’ Rewards campaign by completing a simple 3-min questionnaire.
[Rollin’ Rewards] This earns you 1 token in the draw, to score amazing prizes each month.
[Rollin’ Rewards] Earn 5 more tokens, when your claim form for your Citibank Credit Card is successfully approved.
[Rollin’ Rewards] Did not win this month? Your chances of winning will be accumulated into next month’s campaign. T&Cs apply.
Use 2,990 SmartPoints to fully redeem a product from our Rewards Store. If the product costs more, redeem with your points and top up the rest by purchasing additional SmartPoints. Enjoy flexible redemption and get the rewards you want!
With 2,990 SmartPoints* earned, you can redeem:
- Apple iPad (9th Gen) | Top up $210 more only
- Apple AirPods Pro (2nd Generation) | Top up $110 more only
- Apple AirPods (3rd Gen) | Redeem in full
- Ultimate Ears MEGABOOM 3 | Redeem in full
- OR many other options available at our Rewards Store today.
- For more information regarding SmartPoints, refer to our FAQ here.SmartPoints will be credited into your points wallet, with a validity period of 1 year. You can choose to redeem any reward, or accumulate your points for future redemptions.
Please note that all rewards (Cash or SmartPoints) will typically be fulfilled approximately 5 months after the end of the campaign month (30 November 2024).
Apply for a SCB Credit Card through MoneySmart and stand to win a Porsche Taycan Base when you participate in the SC Million Reasons to be Happier Lucky Draw! Refer to the T&Cs here for more details.
MoneySmart exclusive rewards do not stack with external or third-party promotions. See T&Cs for details.
All Details
Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.
Standard Chartered Rewards+ Credit Card Benefits
Standard Chartered Singapore, a subsidiary of the esteemed global banking entity Standard Chartered Group, has been offering financial solutions to a diverse clientele, encompassing personal, commercial, corporate, priority, and private banking, in Singapore for more than 160 years.
Among the array of credit card options available at Standard Chartered Singapore, the Standard Chartered Rewards+ Credit Card stands out as a top choice for rewards benefits. Prior to making a decision on getting the Standard Chartered Rewards+ Credit Card, let's delve into the prerequisites, advantages, disadvantages, and other related aspects when applying for this credit card.
Pros & Cons Of SCB Rewards+ Credit Card
Pros
- Flexibility to redeem your Standard Chartered 360°; rewards points for cash, e-vouchers, or convert your points to air miles
- 10X rewards points for every S$1 spent in foreign currency
- 5X rewards points for every S$1 spent locally
- No minimum spend required
- First-year annual fee waiver option available upon sign up
- No annual fee charges for supplementary card
- 360° Rewards Points awarded are valid for 3 years from the date of opening of the credit card account
- Complimentary travel insurance coverage of up to S$500,000
- Card offers and privileges at over 3,000 outlets from dining offers to shopping, travel and lifestyle benefits
- Cashback/Reward points/Bonus Interest on IRAS, Education, Insurance, Rental payment via SC EasyBill
Cons
- Interest rate of 27.90%, which is higher than most credit cards (as per MoneySmart's Credit Cards comparison tool)
- 360°; rewards points capped at 20,000 points per year
- Cash advance transaction fee
- Foreign currency transaction fee
- Overlimit fee
Find Out More About The Standard Chartered Rewards+ Credit Card In Our Blog Review!
Standard Chartered Rewards+ Credit Card Interest Rates & Fees
While there are some banks that currently do not charge any processing fees or initial annual fee, the Standard Chartered Rewards+ Credit Card charges an annual fee of $196.20 (incl. 9% GST), and other fees such as cash advance transaction fee, minimum monthly payment, late payment fee, foreign currency transaction fee, and overlimit fee.
Although Standard Chartered Rewards+ Credit Card charges a reasonable annual fee and offers a first-year annual fee waiver, this card will only be worth getting if you spend enough overseas to make the most out of its key benefit which rewards you with 10X rewards points for every S$1 spent in foreign currency, especially after the first year when the annual fee charges will kick in during the second year.
Moreover, you'll be able to redeem your accumulated Standard Chartered 360° rewards points for cash, e-vouchers, or convert your points to air miles. It'll be wise to spend enough such that the value of your accumulated points is high enough to offset the cost of annual fee in the second and subsequent years.
Compare SCB Rewards+ Credit Card vs. HSBC Revolution Card vs. Citi Rewards Card
The Standard Chartered Rewards+ Credit Card is just one of the many credit cards offering attractive rewards that you can convert to either cash or air miles or other forms of benefits. If you’ve looked at MoneySmart’s online credit card comparison wizard, there are comparable options like HSBC Revolution Card and Citi Rewards Card that you can consider as well.
Let’s do a quick comparison of these 3 credit cards, focusing on the key factors including the air miles benefits, interest rates, annual fees and minimum annual income requirements.
A great thing about the Standard Chartered Rewards+ Credit Card is that there’s no minimum spend requirement. However, the interest rate for the Standard Chartered Rewards+ Credit Card (similar to the Citi Reward Card) is slightly higher at 27.90% as compared to the HSBC Revolution Card.
When it comes to rewards points, the Standard Chartered Rewards+ Credit Card offers more generous rewards points (with lesser restrictions) in terms of the “10X rewards points for every S$1 spent” eligible categories, as compared to the other two credit cards which limits the 10 rewards points to only online transactions or those via contactless payments.
As for annual fees, the HSBC Revolution Card can help you save the most as it doesn’t charge any annual fees at all. If you’re a foreigner, the minimum income requirement is the lowest for the HSBC Revolution Card as compared to the Standard Chartered Rewards+ Credit Card and the Citi Reward Card, thus, it may be the most viable option for foreigners when comparing these three cards.
Considering all these factors, the Standard Chartered Rewards+ Credit Card is great for those who look for flexibility in conversion of reward points to a wide variety of rewards including cashback, air miles, vouchers or even gift cards at preferred retailers.
Interest rate: 27.90%
Annual fee: $196.20 (incl. 9% GST, first year waiver available)
Minimum annual income:
Rewards benefits:
Interest rate: 26.90%
Annual fee: None
Minimum annual income:
Rewards benefits:
Interest rate: 27.90%
Annual fee: $196.20 (incl. 9% GST, waiver available)
Minimum annual income:
Rewards benefits:
SCB Rewards+ Credit Credit Card Application
Here are 3 simple steps to apply for the Standard Chartered Rewards+ Credit Card
Apply via MoneySmart’s Credit Cards page
Start by clicking on our Standard Chartered Rewards+ Credit Card application link.
When you choose to apply online via Standard Chartered’s website using SingPass MyInfo, Standard Chartered will pull your identity and income data from SingPass (which is already verified), thus reducing the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.
Provide all documentation required
You'll need to provide all the necessary documentation in order for Standard Chartered to approve your credit card application. This list of documents include:
- NRIC or other identification details
- Latest computerised payslip
- Latest 6 months' CPF Contribution History Statement
- Latest Income Tax Notice of Assessment (NOA)
Receive your Standard Chartered Rewards+ Credit Card
Once you've downloaded the SC Mobile Singapore App, you'll be able to activate your Standard Chartered Rewards+ Credit Card through the SC Mobile Singapore App and create your 6-digit Unlock Code to secure your credit card transactions.
Frequently Asked Questions About SCB Rewards+ Credit Card
Are there any fees if I apply for the Standard Chartered Rewards+ Credit Card?
- The Standard Chartered Rewards+ Credit Card charges an annual fee of $196.20 (incl. 9% GST, first-year waiver available), as well as cash withdrawal fees or cash advance transaction fees, late payment fee, minimum monthly payment, foreign currency transaction fee, and overlimit fee.
Am I eligible for the Standard Chartered Rewards+ Credit Card?
- If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the Standard Chartered Rewards+ Credit Card, as long as you’re aged between 21 to 65, and earn a minimum annual income of $30,000 (for Singaporeans and PRs) or $60,000 (for foreigners).
If I’m late for my monthly Standard Chartered Rewards+ Credit Card bill payment, how much do I have to pay?
- Late payment charge is S$100 and additional interest will be calculated on a daily basis at the most updated EIR determined by Standard Chartered Bank at the point of your late payment.