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    Standard Chartered Business Platinum Credit Card Reviews

    The Business Platinum Credit Card from Standard Chartered offers exclusive corporate benefits that only a few cards come close to offering. From hotel deals to discounts on dining, lifestyle and golfing and concierge privileges, the Business Platinum Card is packed with some great benefits. The card is predominantly a rewards credit card that lets you earn reward points on a whole range of purchases. Let’s take a look at some notable features and benefits of the card, while also looking at the fee details, security features, eligibility parameters, and more.

    Standard Chartered Business Platinum Credit Card Promotions

    Caltex Promotion

    Enjoy savings of up to 16% at Caltex stations across the island nation. The offer is valid only on your Standard Chartered Credit Card and is valid till 31 December 2017.

    Hotels.com Promotion

    Enjoy 12% off on select hotel bookings on Hotels.com with your Standard Chartered Credit Card. The offer is valid on bookings made before 28 February 2018 for stays before 31 March 2018.

    Foodpanda Promotion

    Get a rebate of S$20 on spending at least S$40 or more using your SC Business Platinum Card if you are a new Foodpanda customer. Use the promocode SCNEW to get this benefit. The offer expires on 28 February 2018.

    Shopback Promotion

    Get a cashback of 15% on selected merchants every Wednesday when you shop through Shopback using an SC credit card. The deal ends on 31 December 2017.

    Features of SC Business Platinum Card

    • Fee Waiver: The annual fee on the credit card is waived for the first three years.
    • EasyPay: You can convert any purchase above S$500 into 6-month or 12-month, zero-interest monthly instalment options. A one-time processing fee will be levied on conversion of your purchase to monthly instalment options.
    • Fund Transfer: You can transfer funds (minimum of S$1,000) from your credit card account in an easy and convenient way with your Standard Chartered Business Platinum Credit Card. A processing fee will be accordingly levied by the bank under such an instance.
    • East Bill Payment Options: You can pay your monthly credit card bill seamlessly through the Standard Chartered mobile application or through internet banking.
    • Recurring Bills: You don’t need to worry about recurring utility and mobile bills – you can auto charge your bills to your Standard Chartered Business Platinum Credit Card.

    SCB Business Platinum Credit Card Rewards

    The Business Platinum Card offers a 360 Rewards Programme, allowing you to earn 1 reward point for every S$1 you spend using your credit card. You can earn additional reward points by scaling up your relationship with the bank. For example, you can earn 2 reward points per S$1 of card purchase if you open a current account with the bank.

    Reward points earned with your credit card can be converted into a range of exclusive benefits in the form of discount vouchers and hot discount deals.

    Benefits of SC Business Platinum Credit Card

    24-hour Concierge Services

    The card offers 24/7 Visa Platinum Concierge services that gives you real-time information on flight reservations, hotel reservations etc. You can also get information on shopping offers, lifestyle offers and more.

    The Good Life deals

    With your Business Platinum Credit Card, you can enjoy excellent discounts at several participating dining, travel, online, lifestyle and retail merchants in Singapore and around the world.

    CardSafe Guarantee

    Your SC Business Platinum Card is protected from unauthorised transactions under the bank’s CardSafe Guarantee programme.

    Instalment Payment Plans

    You can convert your large scale purchases into easy monthly instalment payment options that are interest-free. Instalment payment periods can stretch up to 36-months, depending on the size of your purchase and your convenience in making payments. A nominal processing fee may be charged to enjoy this service.

    SCB Business Platinum Card Fees and Charges

    Type of fee Amount payable
    Annual fee S$160.50 (3-year annual fee waiver)
    Interest rate 25.9% p.a.
    Late payment charges S$80
    Cash advance fee 6% of the transacted amount with a minimum charge of S$15
    Interest on cash advance 0.077% per day on the transacted amount until the full payment is made.
    Overlimit fee S$40

    Transactions in Foreign Currencies

    You can use your credit card to make transactions overseas. These transactions attract a currency conversion charge, levied by Visa, amounting to 1% of the transacted amount. There is also an administrative charge of 2.5% of the transacted amount, levied by Standard Chartered. Dynamic currency conversion charges will also hold applicable at the rate 1% of the transacted amount in case the conversion is made at source.

    Transactions performed in foreign currencies other than the USD will first be converted to USD before being converted to SGD. The charges are levied on the final converted Singapore Dollar amount.

    Cash Withdrawals (domestic and overseas)

    You can use your Standard Chartered Business Platinum Credit Card to make emergency cash withdrawals from ATMs across the globe. These cash withdrawals will be charged a handling fee, amounting to 6% of the transacted amount (minimum S$15), along with interest charges amounting to 0.077% per day, until the amount is repaid in full. The cash advance limit is usually 30% of the overall credit limit on your credit card.

    How to apply for the Standard Chartered Business Platinum Credit Card

    You can apply for SCB Credit Card by visiting the official Standard Chartered website in Singapore and filling out the online application form. You will need to upload your documents as well, following which an executive will get in touch with you and clarify the details you’ve provided. Your documents will need to be attested, following which the bank will process and review your application. If your application meets the bank’s internal eligibility standards, it will be approved and you are likely to receive your card in about 7 business days.

    Eligibility Criteria

    • Minimum age: The applicant has to be 21 years of age.
    • Minimum income:
      • Singaporeans & permanent residents: S$30,000 p.a.
      • Foreigners: S$60,000 p.a.

    Documents Required

    • Salaried individuals:
    • Copy of NRIC, Income Tax Notice of Assessment, latest computerised payslips.
    • Self-employed individuals:
    • Copy of NRIC, Bank statement (last 3 months), CPF contribution history for the last 12 months, Notice of Income Tax Assessment.
    • Individuals with varied income:
      • Copy of NRIC, Income Tax Notice of Assessment, Bank statement (last 3 months)
    • Foreigners:
      • Copy of Passport, Employment Letter, latest computerised payslips, Employment Pass.

    Interest on the SC Business Platinum Credit Card

    The annual rate of interest on the card is 25.9% - this is the interest on transactions made using the card, both online and offline, and does not include cash withdrawals. The interest is levied on a monthly basis, compounding to 25.9% p.a. Interest charges need to paid only if you fail to pay your bill in its entirety for a month.

    Repayments

    You will need to make a minimum monthly payment of 3% of your total outstanding balance by the due date, failing which, a late payment charge will be accordingly levied. The minimum monthly payment will also include any purchases converted to instalment payment options.

    SC Business Platinum Card Security Feature

    All Standard Chartered cards come with a built-in security framework that consists of a safety magnetic strip unique to each card, preventing cloning of your credit card. Transactions performed on the card, both online and offline, are secure.

    Offline transactions at merchant terminals will need you to entire your PIN number in order to authenticate the transaction. Likewise, online transactions will also require authentication, preventing fraudulent entities from accessing and misusing your credit card.

    You are recommended to register for SMS alerts of all your transactions. The card also comes with CardSafe Guarantee, which protects your card from fake transactions made online without your approval.

    Reporting loss/theft of your credit card

    You can contact the SCB credit card customer service number in case you wish to report a lost/stolen card. The bank will ask you to provide your card details, your identity details and information on recent transactions performed using your card in order to verify your identity and initiate the process of blocking your credit card.

    Banks will seriously investigate cases of negligence and fraudulent behaviour on the part of the customer, especially if unauthorised transactions have taken place on the car before the bank is informed about the loss/theft of the credit card. In some cases, the bank will require you to submit a copy of the report filed at the nearest police station stating the loss/theft of your card. The liability for lost/stolen credit cards is S$100.

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