The ICBC Global Travel MasterCard Credit Card offers travellers in Singapore the convenience of easy payments whether it is on the bus or the train. Here are some highlights of the card:
Best suited to: Tthose who use the bus or train services in Singapore to commute on a daily basis.
|Annual Fee||S$150 (3-year fee waiver)|
|Cashback on local and overseas spend||3% unlimited cashback|
Enjoy 3% cashback on all qualifying transactions made overseas and 1.5% cashback on all qualifying transactions made locally. With this card the more you spend, the more you earn.
Qualifying transactions carried out in a foreign currency will first be converted to Singapore dollars at the current exchange rates determined by the bank. The percentage of cashback will be applied to the converted amount in Singapore dollars. The cashback will be credited to your card account within 30 working days from the end of the month.
However, the cashback that you earn in a month can only be used to offset transactions made in Singapore dollars incurred in the next month.
Let us consider that your credit card bill for this month is S$2,000. Out of this, you spent S$1,500 in Singapore and S$500 overseas after your spending has been converted into Singapore dollars. So, the cashback that you have earned for this month will be as follows:
|Spend Categories||Monthly Spend||Cashback Rate||Cashback Amount|
|Type of Interest||Charge|
|Retail Purchases||24% p.a.|
|Cash Advance||24% p.a.|
You will not be charged any interest if you have made the payment by the due date. If you have failed to make the payment by the due date, interest will be computed on a daily basis in the currency of the account from the transaction date until the full payment is received.
|Type of Charge||Charge|
|Overseas Transaction Fee||Administrative fee of 2.5% will be charged on the total amount converted|
|Late Payment Fee||5% of the full amount of Minimum Payment or S$40 whichever is more|
|Over limit Fee||S$40|
|Cash Advance Fee||5% of the sum withdrawn (minimum charge of S$15) per transaction|
|Supplementary Card Fee||S$75|
Yes, you will have to activate your card if you want to use it overseas. Once you activate the magnetic stripe of your card overseas it will remain activated until you deactivate it. There are three ways by which you can activate your card. They are:
Visit your nearest ICBC branch to activate your card. However, you will have to bring your credit card and a valid identification proof.
Log into your personal internet banking account. Once you login, you will have to click on ‘Apply for credit card‘ under credit card services and then on “Activate credit card”.
The easiest way to activate your card is through the 24-hour hotline number.
Make sure to check your eligibility here before you apply for this credit card.
In case your card is lost or if it is stolen, you will have to report it to the police as early as possible. Once you do that, you must inform the bank by calling the Hotline number of ICBC and submit the police report.
If you notify the bank on time, then your liability will be only S$100. In case you fail to report the loss promptly or if you have been acting malevolently or neglectfully, then you will probably have to bear complete liability of all unauthorised transactions done using the card after its loss.
Compare credit cards of different banks to find a card that is suitable for you. A quick comparison will help you finalise on a card with more clarity. You’ll be able to weigh the pros and cons of different cards in one shot.
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How to Enable/Disable Auto Debit & Standing Instructions
Through Recurring Auto-/Trigger-/Balance-Auto Transfer
Through auto-transfer, you can transfer funds from your savings account for the payment of your credit card bills. You can choose from the following options:
How to Apply for the Card & Check the Application Status
Apply Online/Through Branch/Mail/Fax and Follow Up With the Bank
You can apply for this card in three ways:
To find out the status of your card application, you can get in touch with the 24/7 Customer Service Representative for instant assistance.
How to check balance
At ICBC ATMs
You can check your credit card balance at any ICBC ATM.
How Can the Bill Be Paid?
Through AXS/Internet Banking/Cash/Cheque/Auto-Debit
The credit card bill can be paid in the following ways:
How Much Is the Minimum Payment to Be Made on the Card?
3% of the Outstanding Balance or Min S$50
The minimum payment that needs to be made is 3% of the monthly outstanding balance + minimum payment due from previous statement/s + any credit limit excess or S$50, whichever is greater.
What Is the Grace Period?
25 days from statement date.
What Is the Billing Cycle and the Bill Due Date?
The payment date for ICBC credit card is 25th of every month. If the payment contract is activated before 25th, it will start in the same month, but if it is signed after 25th, it will start the next month.
How to Get a Replacement Card
You can get a replacement by getting in touch with the bank and informing them about the loss/expiry of your card. You will be charged a replacement fee of S$20 for each card.
How to Temporarily Increase the Limit of the Card
Fill Form and Submit Through Email/Fax/Post
To temporarily increase the credit limit on your card, you will have to download the limit adjustment form and fill it up by providing the reasons for this request and submit it to the bank in any of the following ways: