Standard Chartered Smart Credit | Best Credit Cards in Singapore
Credit Cards
by Priyadarshini
26 August 2022
If you are looking to get yourself a new credit card then you have come to the right place. We bring you the latest updates on the best credit card deals in Singapore. In this blog, we talk about the Standard Chartered Smart Credit Card.
So, what makes this card so intelligent? It pays you a handsome 6% cashback on some of the most ordinary transactions. For example, as your daily MRT journey or breakfast at Toast Box. Let’s see whether it lives up to the hype.
How Does the Standard Chartered Smart Credit Card work?
The card is primarily used to access Standard Chartered’s EasyPay installment programs. EasyPay allows you to divide a single transaction into installment plans of 3, 6, 9, or 12 months. You enjoy three-month interest-free installments with the Smart Credit Card. All service fees are reimbursed to you in the form of cashback. This makes the plan completely free as long as you repay it in full and on time. So, if you buy something for $1,500 and elect to pay it back in three interest-free installments, you’ll pay $500 every month for three months. Another thing to keep in mind about the card is that the interest rate fluctuates. The bank will analyze your credit rating twice a year and assign you an interest rate (23.9 percent, 26.9 percent, or 29.9 percent) based on it.
Other Features:
If you’re a seasoned credit card hunter, you’ve probably noted from the table above that the Standard Chartered Smart Credit Card has no annual fees or cash advance transaction fees. At the very least, this saves you from having to call the bank every year and beg for a fee waiver.
Cashback
You get 6% cashback on Netflix and Spotify, for a month. The card offers 6% cashback on various sorts of ordinary purchases, with no monthly minimum obligation. As a result, it is one of the few credit cards that provide such a generous payback rate with no minimum spending requirement!
How does the Cashback program for Standard Chartered Smart Cards work?
If you don’t want dining coupons or hotel stays and only want to convert your points for the guaranteed cashback. You get a $10 cashback that will cost you 3,200 rewards points. Your initial batch of Standard Chartered rewards points is only valid for three years from the day your Smart Credit Card account is opened. As a result, you must exercise extreme caution in exchanging all of your reward points for cashback before they expire.
Additionally, there’s a monthly cap on the number of bonus points you may earn. And that is equivalent to around $818 in expenditure. To be fair, you’d have to consume an absurd number of McDonald’s dinners to exceed that limit.
It’s also worth noting that there’s a monthly cap on the number of bonus points you may earn, which is equivalent to around $818 in expenditure. To be fair, you’d have to consume an absurd number of McDonald’s dinners to exceed that limit. There’s no harm in applying for the card and then storing it in the back of your wallet as a backup because there’s no annual charge.
If you utilize installment plans frequently, they can also be used as an alternative to Buy Now Pay Later services. Though you should be aware that just three months’ worth of installments is fee-free.
