Standard Chartered PruPrestige Visa Signature Credit Card
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.
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.
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||Free for life|
|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 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%.
This card can only be availed by invitation. You can express your interest in the card in one of the following ways:
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: