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    Standard Chartered Platinum Visa Credit Card Review

    The Standard Chartered Platinum Visa Credit Card offers rewards points on all eligible transactions under the 360° rewards programme. You will earn 1 Rewards point per S$1 spent on your card. If you sign-up for a Personal Banking Suite with Standard Chartered, you will earn up to 2X rewards points on your transactions.

    This card also comes with platinum privileges and privileges from The Good Life which give to access to a host of offers and discounts on dining, travel, shopping and lifestyle categories.

    For large purchases on your card, you can make use of the 0% Interest Instalment Plan and EasyPay Instalment Plan to enjoy 0% interest rate. You can also consolidate all your bills and make a onetime payment every month through the Recurring Payment Plan option available.

    The Standard Chartered Credit Card also offers exclusive promotions from Caltex and Uber for additional savings and discounts. Apply for this card and enjoy an annual fee waiver for 3 years. The Standard Chartered Platinum Visa Credit Card is one of the variants offered by the bank, the other variant is called the Standard Chartered Platinum MasterCard Credit Card.

    Standard Chartered Platinum Visa Credit Card

    Enjoy platinum privileges and Rewards Points on all your purchases on the Standard Chartered Platinum Visa Credit Card. This credit card also comes with promotions running all year long, sign-up perks and more.

    Features of the Standard Chartered Platinum Visa Credit Card

    • The annual fee on this SC credit card is waived for 3 years.
    • Transfer funds of a minimum of S$1,000 from your SC credit card at 0% interest for 6 and 12-month tenures. You only have to pay a one-time processing fee of up to 4.5%.
    • Consolidate all your monthly bills into your SC credit card using the Recurring Payment Plan and make one payment every month. You will continue to earn Rewards Points on your payments.

    Benefits of the Standard Chartered Platinum Visa Credit Card

    • Platinum Privileges - Enjoy exclusive platinum privileges on your Visa Platinum Credit Card including discounts, offers and other privileges at restaurants, hotels, golf courses and many other partner merchants.
    • The Good Life Privileges– Enjoy privileges and offers on dining, shopping, lifestyle and travel at more than 3,000 outlets across Asia.

    Standard Chartered Platinum Visa Credit Card Promotions

    • Uber - Enjoy cashback of 20% up to S$50 on your Uber rides in Singapore and overseas every month when you spend at least S$900 on your total monthly spends. Additionally, new Uber users will also receive S$8 discount on their first 3 Uber rides. Use promo code, “SC2017SG”after downloading the app and registering your Standard Chartered credit card. This is an ongoing promotion that you can get until 30 September 2018.
    • Caltex 2017 Promotion - Spend a minimum of S$600 in monthly spends including fuel purchases at Caltex and receive up to 19.78% fuel savings. For monthly spends below S$600, receive fuel savings of 16% at Caltex. This is an ongoing promotion that you can get until 31 December 2017.
    • Hotels.com - Spend a minimum amount of S$350 and receive 10% discount on your bookings at Hotels.com. Use promo code, “SCBSG10”. The booking period on this promotion is valid until 28 February 2018 and the stay period is valid until 31 May 2018.

    Joining benefits/perks on the Standard Chartered Platinum Visa Credit Card

    Apply for this credit card receive cashback of up to S$138 in the following ways:

    • Applicants who submit their applications online will receive cashback of S$138.
    • Applicants who submit their applications through other channels will receive cashback of S$100.
    • This sign-up offer is only applicable to new Standard Chartered cardholders who have not cancelled any SC card in the past 12 months.
    • Apply for this credit card by 31 December 2017 to receive this joining perk.

    Standard Chartered Platinum Visa Credit Card Rewards Programm

    Under 360o Rewards, you will earn 1 point for every S$1 that you spend on your credit card. Depending on the banking relationship you share with Standard Chartered, you can earn up to 2X Rewards Points on your credit card spends if you open a Current Account as well.

    Personal Baking Suite (Platinum Visa Credit Card + Xtrasaver Current Account):

    • What you get - Up to 300 additional Rewards Points every month.
    • How to redeem - Maintain other banking relationships with Standard Chartered Bank such as mortgages, deposits, investments, online transactions, etc.
    • Charges and details - A minimum spend of S$250 per calendar month on your credit card is required to earn additional Rewards Points each month.

    Instalment Payment Plans on the Standard Chartered Platinum Visa Credit Card

    0% Interest Instalment Payment Plan:

    • Enjoy 0% interest on your finances when you convert your purchases into this instalment payment plan.
    • Flexible tenures of up to 36 months are available under this plan.
    • There are no additional charges for signing-up for this plan.
    • At the merchant store, ask for the “Standard Chartered 0% Interest Instalment Payment Plan” when making the payment.

    EasyPay:

    • Convert your purchases of minimum S$500 into EasyPay Instalment Plan at 0% interest.
    • Tenures available include 6-month and 12-month tenures.
    • 5% of your converted amount will be charged as a one-time service fee.

    Standard Chartered Platinum Visa Card Fees and charges

    Type of fee Amount payable
    Annual fee S$192.60 (fourth year onwards)
    Interest rate 25.9% p.a. (Effective Interest Rate)
    Late payment charges S$80
    Cash advance fee 6% of the withdrawn amount with a minimum S$15 charge
    Interest on cash advance 0.077% per day
    Overlimit fee S$40

    Standard Chartered Platinum Visa Card Foreign Currencies Transaction Charges

    • Transactions made in United States Dollar (US$) will be converted to Singapore Dollar (S$). Transactions made in other foreign currencies will first be converted to US$ and then to S$.
    • Visa charges a 1% fee on the converted S$ amount on foreign currency transactions.
    • Standard Chartered charges a 2.5% fee on the converted S$ amount on foreign currency transactions.
    • For transactions converted to S$ through Dynamic Currency Conversion, Visa charges a fee of 0.8% of the transacted amount.
    • Transactions in S$ that are processed overseas will be subject to 0.8% charge by Visa.

    Cash withdrawals/Advance Charges (domestic and overseas)

    A cash advance fee of 6% on the amount withdrawn will be applicable when making cash withdrawals on your SC credit card. The minimum cash withdrawal fee is S$15. An additional finance charge of 0.077% will be applicable every day from your withdrawal date until the day you make the full payment.

    How to apply for the Standard Chartered Platinum Visa Credit Card

    If you want to apply for the Standard Chartered Platinum Visa Credit Card, you must visit the Standard Chartered website. On this website, navigate to the “Standard Chartered Platinum Visa Credit Card” web page and click on the “Apply Now” option. Follow the necessary steps to successfully submit an online application.

    Another way to apply for this credit card is in person by visiting your closest Standard Chartered Bank branch.

    Standard Chartered Platinum Visa Credit Card Eligibility

    Nationality - Singapore citizens (SCs), Singapore Permanent Residents (SPRs) and foreigners are eligible.

    Age:

    • Minimum age: 21 years old.
    • Maximum age: 65 years old.

    Minimum annual income:

      • Singapore citizens (SCs)/Singapore Permanent Residents (SPRs) - S$30,000 per year.
      • Foreigners - S$60,000 per year.

    Additional criterion for foreigners - Applicants holding a Q Pass must have at least 1 year validity left on their Employment Pass. P1 and P2 employment pass holders are also eligible to apply.

    Documents required To Apply Standard Chartered Platinum Visa Credit Card

    The following documents must be submitted by salaried employees:

    • Identity proof documents - NRIC copy (front and back) and
    • One of the following income proof documents:
    • Most recent computerised payslip.
    • CPF Contribution History for the past 6 months.
    • Most recent computerised payslip/past 6 months’ CPF Contribution History + Most recent Income Tax Notice of Assessment.

    The following documents must be submitted by self-employed applicants:

    • Identity proof documents - NRIC copy (front and back) and
    • Income proof documents - Most recent Income Tax Notice of Assessment. Please be advised that your business should be operational for a minimum period of 2 years to apply for this card.

    The following documents must be submitted by commission-based applicants:

    • Identity proof documents - NRIC copy (front and back) and
    • One of the following income proof documents:
      • Most recent Income Tax Notice of Assessment + past 3 months’ computerised payslips.
      • Past 6 months’ CPF Contribution History.
      • Past 3 months’ computerised payslips.
      • 100% commission-based earners may submit their most recent Income Tax Notice of Assessment.

    The following documents must be additionally submitted by foreigners:

    • Identity proof documents - Passport copy (front and back).
    • Other documents - Employment Pass copy (front and back). This includes P1, P2 and Q Passes.

    Standard Chartered Platinum Visa Credit Card Interest rates

    The EIR or Effective Interest Rate charged on the Platinum Visa Card is 25.9% p.a. This interest rate will be applied on all transactions that you make if you do not pay your outstanding balances in full every month. The finance charges on your transactions will be computed every day at the rate of 0.071% per day until full payments are made on all your credit card bills.

    This credit card comes with an interest-free credit period or free grace days. You can benefit from this period if you make full outstanding payments rather than minimum or partial payments on your balances.

    How to Repay your Standard Chartered Platinum Visa Credit Card Bills?

    You will have to make a minimum payment on your credit card statements every month. You will be required to pay higher of the two amounts mentioned below:

    • S$50 or
    • 1% of the principal amount + interest amount + any additional fees and charges applicable + any past due amount + Overlimit amount if applicable.

    You can choose from the following payment methods to pay your credit card bills every month:

    • Through cheques
    • Through phone banking (available 24 hours using your phone banking PIN)
    • Through online banking available 24 hours
    • At the Standard Chartered Bank Branch:
    • Express cheque deposit box
    • CDM or Cash Deposit Machines
    • Teller counters
    • Through interbank GIRO
    • Through AXS

    Lost/stolen card liability

    In the event that your Standard Chartered Platinum Visa Credit Card is lost, stolen or the PIN has been disclosed to another party, you will be liable for unauthorised transactions on your card until you notify the bank regarding the incident. But, your maximum liability will be limited to S$100 if the bank is satisfied with the following:

    • You have informed the bank immediately after the loss, theft or disclosure in writing.
    • You provide a police report or statutory declaration according to the bank’s format.
    • You are/have been helpful in recovering unauthorised or fraudulent transactions made on your card.
    • Standard Chartered Bank is satisfied that the loss, theft or disclosure has not been due to your negligence.

    Card Protection Schemes

    In order to safeguard the use of your credit card more efficiently, Standard Chartered offers “CardSafe Guarantee” to customers with the following features:

    • One Time Password (OTP) - This feature will offer an added layer of security when transacting online. When making 3D secure online transactions, you will receive an OTP on your mobile number registered with the bank to authenticate and complete your transaction.
    • SMS Alerts - Upon applying for SMS Alerts, you will receive a text message every time your card is used to complete a transaction. Furthermore, you can pre-set a threshold amount wherein each time a transaction on your card exceeds this threshold, you will be immediately notified by the bank via SMS.
    • Round-the-Clock Protection - This is a fraud detection system that functions 24/7. In case this system detects any suspicious activity or pattern on your credit card, the bank will contact you to verify the same.

    What you should do if your Standard Chartered Platinum Visa Card is lost/stolen

    In the event that you have lost your Standard Chartered Platinum Visa Credit Card, it has been stolen or the PIN has been disclosed to an unknown person, you should call the bank immediately and notify a representative regarding the incident. You can report the loss or theft of your card while in Singapore and overseas. A toll free hotline number (1800 747 7000) is available for making local calls and an overseas hotline number (+65 6747 7000) is available for making international calls.

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