This is a co-branded card introduced in tie-up with Prudential Insurance Singapore. The card incentivises your purchases with Reward Points and allows you to pay your insurance premiums with the points accrued. The Standard Chartered PruPrestige Visa Signature Credit Card combines the privileges of Visa Signature with the protection offered by Prudential.
New Standard Chartered credit card customers can earn cashback of up to S$138 when they apply for the Standard Chartered PruPrestige Visa Signature Card. If you apply for this card online, you can earn S$138, and if you apply for it offline or any other manner, you can earn S$100 as cashback. This sign-up bonus is available until 30 September 2017. The conditions of this offer are:
- You must not have owned any Standard Chartered credit card in the previous 1 year.
- The card should be activated within 2 months of getting approval for it.
- The card should remain active for at least 6 months after it is approved.
- You should not have received this card as a benefit alongside your application for a personal loan, instalment loan, balance transfer or home loan.
Standard Chartered PruPrestige Visa Signature Card Promotions
- Hotels.com: Get 10% discount on hotel room bookings made through Hotels.com until 28 February 2018. You need to use the promocode SCBSG10 while making your payment to enjoy this discount. The stay should be completed by 31 May 2018.
- Caltex: Save up to 19.78% when using the PruPrestige Visa Signature Card at Caltex petrol stations up to 31 December 2017. If you spend S$600 or more, you get 16% upfront discount plus 4.5% off the net amount, and if your total transactions for the month are lower than S$600, you get a 16% discount.
- Ce La Vi Restaurant: Get a glass of house wine free for every S$100 that you spend on a single bill at Ce La Vi. The offer expires on 31 January 2018, but cannot be enjoyed on public holidays and the evenings prior to them, and special occasions.
- LifeSpa: Enjoy 30% discount on a la carte spa menu at LifeSpa near Somerset MRT. You can also get a trial treat worth S$28, which includes 1-hour facial and 1-hour Jamu body massage. The promotion runs up to 30 June 2018.
Features of Standard Chartered Pruprestige Visa Signature Credit Card
- You can make contactless payments with services such as Apple Pay, Android Pay and Samsung Pay.
- You don’t have to pay annual fees on the card for 2 years.
- Supplementary card annual fees are waived permanently.
This card qualifies for the Standard Chartered 360º Rewards Programme. You can earn 1.5 points for every $1 spent on the credit card irrespective of what you spend it on. These reward points can be accumulated and used to pay your Prudential insurance premiums. The first 3,000 points are equal to S$12 on insurance premiums, and after that you earn S$1.2 for every block of 300 points that you collect. You can make this redemption by downloading the Prudential Insurance Premium Redemption Form, completing it and uploading it or sending it to your bank.
Benefits Of Standard Chartered PruPrestige Visa Signature Credit Card
- You have 24x7 access to concierge services to help you plan your travel, book your tickets for airlines and events, reserve hotel rooms, among other things.
- Take advantage of the discounts and special offers available under The Good Life programme which covers dining, shopping, leisure, travel and other expenses.
- You also get access to the Visa Signature rebates and special deals.
Instalment Payment Plans
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:
||Effective interest rate
Fees And Charges
|Supplementary card fee
||Free for life
|Interest rate (annual)
|Late payment charges
|Cash advance fee
||6%, subject to a minimum of S$15
|Interest on cash advance (annual)
|Interest-free grace period
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.
Overseas Use Of The Card
On overseas payments, a Standard Chartered PruPrestige Visa Signature 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%.
How To Apply For Standard Chartered PruPrestige Visa Signature Credit Card
This card can only be availed by invitation. You can express your interest in the card in one of the following ways:
- Call the Standard Chartered hotline 1800 747 7000 from Singapore or +65 6747 7000 from abroad.
- Click on ‘Contact Me’ at the end of the card website and fill up the form to help the bank officials to get in touch with you.
- Visit your nearest Standard Chartered branch and enquire about your chances of getting this card.
Eligibility criteria for Standard Chartered PruPrestige Visa Signature Credit Card
- Minimum age: 21 years
- Minimum income:
- Singaporeans and Permanent Residents: S$30,000 annually
- Foreigners: S$60,000 per year
- If you are an Employment Pass holder, then you should have P1, P2 or Q type pass, and at least 1 year’s validity should be remaining on the Q Pass.
- You should also have a Prudential insurance policy with at least S$10,000 in annual premiums or S$100,000 in single premiums, or some of both.
- Self-employed persons must have been in business for at least 2 years.
Documents required to apply for Standard Chartered PruPrestige Visa Signature Credit Card
You need to have the following documents to apply for this card:
- Identity documents: Copy of both sides of NRIC or Passport or Employment Pass (front and back)
- Income documents:
- Salaried persons:
- Latest computerised salary slip for 1 month AND
- CPF Contribution History Statement for the previous 6 months OR
- Income Tax Notice of Assessment (NOA)
- Self-employed persons:
- Copy of latest NOA or tax bill
- Commission earners:
- Salary slips for the last 3 months AND/OR
- Latest NOA AND/OR
- CPF Contribution History Statement for the previous 6 months
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:
- By cheque, mailed to the bank at least 2 days before your due date. Mention your credit card number behind the cheque leaf.
- Through cheque deposit machines
- By cash at any Standard Chartered branch or cash deposit machines
- By phone banking (1800 747 7000)
- Using internet banking
- By activating recurring Interbank GIRO transfer
- At AXS Stations
- At SingPost SAM counters
Card Protection Scheme
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.
Reporting Lost/Stolen Credit Cards
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:
- You must call Phone Banking and get your card blocked as soon as you find it missing from your person.
- You must notify the bank of the loss, theft or misplacement of the card in writing.
- You must file a police complaint and take all legal steps to help retrieve the missing card and recover the transactions made illegally.
- You can convince the bank that you had no hand in the deceit and that the loss of card of PIN is not due to your negligence or default