If you are searching for a cashback credit card that can be used to meet your daily dining, shopping, entertainment, and lifestyle needs, you may consider applying Standard Chartered credit cards. This card comes with an annual fee waiver and offers cashback of up to S$800 a year.
By opting for this card, you can get 0% interest instalment plan and enjoy the convenience of making mobile payments that do not require you to carry your wallet. Let us find out the various offers, benefits, and privileges of this credit card.
You can earn up to S$800 cashback in a year using your Standard Chartered Manhattan World Mastercard. You can earn up to 3% cashback on all qualifying purchases. The system works in three tiers, which is detailed below:
Standard Chartered has 2 types of instalment payment plans: EasyPay and 0% IPP. You can use the 0% Instalment Payment Plan to pay your dues in easy monthly repayments. The tenure is up to 3 years and there are no additional charges when you sign up for the instalment payment plan. However, you will need to ensure that you mention the instalment payment plan at participating merchant establishments before charging your card. Purchases made under 0% IPP are eligible for cashback as well.
EasyPay allows you to convert your retail transactions – irrespective of which merchant you’re buying from – of S$500 or more into either 6 or 12 easy monthly instalments. There is no applied interest rate, but a one-time processing fee of 5% is applicable. However, do check with the bank for effective rates of interest.
|Annual fee||S$192.60 inclusive of GST (waived for the first year)|
|Supplementary card fee||Free|
|Interest rate||25.9% per year|
|Minimum monthly payment||The higher of S$50 or 1% of principal plus interest fees, charges and any over limit, outstanding due amount|
|Late payment fee||S$80|
|Cash advance fee||6% cash advance fee per transaction (minimum S$15)|
|Interest on cash advance||0.77% per day|
Your Standard Chartered Manhattan World Mastercard is disabled by default for security purposes. If you would like to use your card overseas, it will need to be enabled first. Card activation can be done through SMS, or by visiting the Standard Chartered website or by visiting any of the nearest branches. Some countries still use magnetic strip (located on the back of your card) instead of EMV chips for point of sale transactions. Your card needs to be activated successfully prior to performing any POS-based transactions at outlets that use the magnetic strip.
You can make the card transaction-ready in any of the following ways:
You will be notified once your card is successfully activated. Your overseas activation will be valid for a period of 12 months. If you are enabling the card via the website, you can set an expiry date based on your preferences.
All foreign currency transactions that include both online and overseas payments made in US dollars will be exchanged into Singapore dollars. All other transactions that are done in any other currencies will first be converted into US dollars before converting it to Singapore dollars. The conversion rate is based on the existing foreign exchange rate decided by Mastercard.
All foreign currency transactions will attract a prevailing fee of 1% charged by Mastercard and 2.5% charged by the bank. This is applicable on the converted Singapore dollar amount.
A cash advance fee of 6% is applicable per transaction. This is subject to a minimum charge of S$15. In addition to this, an interest of 0.77 % per day is applicable and these charges would continue until the dues are paid in full. The interest is chargeable from the day you make the withdrawal.
You can apply through the Singapore Standard Chartered website, or fill and download the form and take it to the nearest branch along with the required documents.
In order to qualify for the credit card, you will need to meet the following criteria:
You will need to submit your IRAS notice of assessment. You must be in business for a period of at least 2 years.
Individuals earning commission
An effective interest rate (EIR) of 25.9% p.a. is applicable on transactions. If partial credit card repayments are made, finance charges of 0.071% would be charged on a daily basis until the dues are cleared in full. If you pay the bill in full, you don’t have to worry about any interest charges.
Payments to your credit card can be done using the following methods:
You will need to notify Standard Chartered bank immediately by calling the hotline number in the following scenarios:
Once you let the bank know, if any purchases are made on your card, the bank will not hold you liable for that payment. At the most, you are responsible for paying S$100 as lost card liability. You will have to assure the bank that the theft or loss was not because of your negligence, and you are not complicit in the fraud.