This Visa credit card from Standard Chartered is a travel-cum-lifestyle card that gives you exclusive privileges in areas such as dining, travel, entertainment and golf. You also get services tailored to your preferences and standard of living.
This card qualifies for the Standard Chartered 360º Rewards Programme. The rewards are accumulated not just on your credit card usage but also on all kinds of accounts you have with the bank, such as savings or current account, fixed deposits, mortgage loans, and investment products. The rewards are accumulated in the ways listed below:
To be eligible to reap benefits of total banking relationship-based point accumulation, you need to spend at least S$500 on your Standard Chartered Priority Banking Visa Infinite Credit Card every month. The 360º Rewards Points are valid forever, and can be redeemed for air miles, for shopping vouchers, and for products from the bank’s rewards catalogue. For example, you can convert 32,000 points into a S$100 cash rebate on your credit card bill. A block of 4,300 points will give you a S$20 voucher or Adonis Hotel. For 49,500 points you can get a FitBit fitness tracker wrist gadget. Conversion to KrisFlyer Miles will cost you an admin fee of S$25, though.
The Priority Banking Visa Infinite Credit Card comes with free Travel Medical Insurance. To avail these benefits, use your credit card at least once when you’re on trip abroad. You’re covered for the following events under this policy:
|Medical expenses when outside Singapore||Up to S$50,000 each for primary cardholder AND spouse|
|Emergency dental expenses||Up to S$500|
|Emergency medical evacuation, repatriation or dispatch of specific medication||Up to S$100,000|
|Luggage delay, loss or damage||Up to S$1,000|
|Purchase protection||Up to S$10,000 per article|
Standard Chartered offers 2 kinds of instalment payment plans: 0% Instalment Payment Plan and EasyPay. Under the 0% Instalment Payment Plan, you can pay for your transactions at participating stores over a period of up to 36 months instead of paying in one go, at zero interest charges. Unlike in many other reward programmes, converting to instalment payment plan will not deprive you of earning reward points or cashback. EasyPay, on the other hand, allows you to pay for transactions above S$500 over a period of 6 to 12 months at any local or overseas outlets, irrespective of whether they are Standard Chartered bank’s merchant partners or not. The applicable charges are:
|Duration||Effective interest rate||Service charge|
|Supplementary card fee||S$160.50|
|Interest rate (annual)||25.9%|
|Late payment charges||S$80|
|Cash advance fee||6%, subject to a minimum of S$15|
|Interest on cash advance (annual)||28%|
|Interest-free grace period||22 days|
If you do not pay your credit card dues or make the minimum payment required on time, a penal interest rate of 28% instead of 25.9% will be charged on the overdue amount.
On overseas payments, a Standard Chartered Priority Banking Visa Infinite Credit Card user will have to pay an administrative fee of 3.5% – 1% imposed by Visa and 2.5% charged by the bank – if you are paying in a foreign currency. If you are paying overseas in Singapore dollar, a dynamic currency conversion charge of 0.8% levied by Visa is applicable.
You can use your credit card to take small loans if you require some money at short notice. This cash advance can be taken without any further approval or credit check. You can withdraw the money using your credit card either from one of the Standard Chartered bank ATMs in Singapore, or from any Visa Plus or MasterCard Cirrus ATMs overseas. Alternatively, you can visit any Standard Chartered branch or a Visa/MasterCard participating bank to get your cash advance. You have to borrow at least S$50, a cash advance fee of 6% or S$15, whichever is higher, will be charged, and the interest rate is 28%.
The eligibility criteria and document requirements are not available for the Priority Banking Visa Infinite Credit Card because it can only be availed by invitation. You can try your luck by sending an online request to the bank. For this:
Every month, you are required to repay 1% of credit card bill plus finance charges and past dues, amounting at least to $50. The bill payment can be done in the following ways:
Standard Chartered offers CardSafe Guarantee, a vigilance programme that keeps an eye on your online transactions and protects you from liability towards cyber fraud on your card. This scheme protects you only from online threats. The bank employs a fraud detection system to monitor unusual spending activities on your card. You receive SMS alerts and a One-Time Password for 3D secure payments on your registered mobile number to ensure maximum security.
Your maximum liability for unauthorised or fraudulent transactions on your credit card is just S$100. However, this is applicable only if the following measures are taken by you: