If you’re looking for a credit card that offers cashback rewards, you’ll find plenty of options in Singapore. One such card is the Standard Chartered Unlimited Cashback Credit Card, which offers a flat rate of 1.5% cashback on all eligible spending with no minimum spend and no cashback cap. But how does it compare to other cashback credit cards in Singapore?
To answer this question, we’ve done a comparative analysis of the Standard Chartered Unlimited Cashback Credit Card against other popular cashback credit cards in Singapore. We’ve looked at the features, rewards, exclusions and limitations, fees and charges, eligibility and application process, and additional benefits and offers of each card to help you make an informed decision.
In this article, we’ll take a closer look at the Standard Chartered Unlimited Cashback Credit Card and compare it to other cashback credit cards in Singapore. We’ll also provide tips on how to maximize your cashback rewards and highlight any additional benefits and offers that come with each card. So, whether you’re a frequent shopper or a big spender, read on to find out which cashback credit card is right for you.
Key Takeaways
- The Standard Chartered Unlimited Cashback Credit Card offers a flat rate of 1.5% cashback on all eligible spending with no minimum spend and no cashback cap.
- When compared to other popular cashback credit cards in Singapore, the Standard Chartered Unlimited Cashback Credit Card holds its own, offering competitive rewards and benefits.
- To maximize your cashback rewards, consider your spending categories and rewards, as well as any exclusions and limitations of each card.
Understanding Cashback Credit Cards
If you’re looking to earn rewards on your credit card purchases, cashback credit cards are a great option. With cashback credit cards, you can earn a percentage of your spending back in cash, which can then be redeemed for a variety of rewards. Here are the basics of cashback credit cards.
Basics of Cashback
Cashback credit cards work by giving you a percentage of your spending back in cash. For example, if you spend £100 with a cashback credit card that offers 1% cashback, you’ll earn £1 in cashback. This cashback can then be redeemed for a variety of rewards, such as statement credits, gift cards, or merchandise.
Cashback Rate
The cashback rate is the percentage of your spending that you’ll earn back in cash. Cashback rates can vary widely between credit cards, so it’s important to compare different cards to find the one with the highest cashback rate for the categories you spend the most in.
Annual Fees and Caps
Some cashback credit cards charge an annual fee, while others do not. It’s important to consider whether the cashback you’ll earn with a card that charges an annual fee will offset the cost of the fee. Additionally, some cashback credit cards have caps on the amount of cashback you can earn in a year. If you’re a big spender, it’s important to consider whether a card with a cap will limit your earning potential.
Overall, cashback credit cards can be a great way to earn rewards on your credit card purchases. By understanding the basics of cashback, cashback rates, and annual fees and caps, you can choose the right cashback credit card for your spending habits.
Standard Chartered Unlimited Cashback Card Features
If you are looking for a credit card that offers unlimited cashback and no minimum spend, then the Standard Chartered Unlimited Cashback Card might be the perfect choice for you. Here are some of the features that make this card stand out from other credit cards in Singapore.
Unlimited Cashback
One of the most exciting features of the Standard Chartered Unlimited Cashback Card is the unlimited cashback you can earn on all your spending. You can earn 1.5% cashback on all your spends, from beach holidays to buffet feasts, or even your new wardrobe. This means that the more you spend, the more cashback you can earn. There is no minimum spend required and no cashback cap, so you can earn as much cashback as you want.
No Minimum Spend
Unlike other credit cards that require you to spend a certain amount to earn rewards, the Standard Chartered Unlimited Cashback Card has no minimum spend requirement. This means that you can earn cashback on all your spending, no matter how small or large. Whether you are buying groceries, paying bills, or shopping online, you can earn cashback without worrying about meeting any minimum spend requirement.
Additional Perks
In addition to unlimited cashback and no minimum spend, the Standard Chartered Unlimited Cashback Card also comes with additional perks that make it even more attractive. For example, you can enjoy a welcome bonus of up to S$138 cashback when you apply online. You can also enjoy exclusive privileges and discounts at selected merchants, such as dining, shopping, and travel.
Overall, the Standard Chartered Unlimited Cashback Card is a great choice for anyone who wants to earn unlimited cashback on all their spending without worrying about any minimum spend requirement. With additional perks and benefits, this card offers great value for money and is definitely worth considering.
Comparative Analysis
So, you’re trying to decide which credit card to choose in Singapore, and you’ve narrowed it down to the Standard Chartered Unlimited Cashback Credit Card and a few others. Let’s take a closer look at how the Standard Chartered Unlimited Cashback Credit Card stacks up against some of the other popular credit cards in Singapore.
Against UOB Absolute Cashback Card
The UOB Absolute Cashback Card is another popular unlimited cashback card in Singapore. It offers a higher cashback rate of 1.7% on all spend, compared to the Standard Chartered Unlimited Cashback Credit Card’s 1.5%. However, the UOB Absolute Cashback Card has an annual fee of S$192.60, while the Standard Chartered Unlimited Cashback Credit Card has no annual fee. So, if you’re looking for a card with no annual fee, the Standard Chartered Unlimited Cashback Credit Card might be a better option for you.
Against AMEX True Cashback Card
The AMEX True Cashback Card is a strong contender in the unlimited cashback card market in Singapore. It offers a cashback rate of 1.5% on all spend, which is the same as the Standard Chartered Unlimited Cashback Credit Card. However, the AMEX True Cashback Card has an annual fee of S$171.20, while the Standard Chartered Unlimited Cashback Credit Card has no annual fee. Additionally, the AMEX True Cashback Card has a minimum spend requirement of S$1,000 per month to qualify for cashback, while the Standard Chartered Unlimited Cashback Credit Card has no minimum spend requirement. So, if you’re looking for a card with no annual fee and no minimum spend requirement, the Standard Chartered Unlimited Cashback Credit Card might be a better option for you.
Against Citi Cash Back+ Card
The Citi Cash Back+ Card is another popular cashback card in Singapore. It offers a cashback rate of 1.6% on all spend, which is slightly higher than the Standard Chartered Unlimited Cashback Credit Card’s 1.5%. However, the Citi Cash Back+ Card has an annual fee of S$192.60, while the Standard Chartered Unlimited Cashback Credit Card has no annual fee. Additionally, the Citi Cash Back+ Card has a cashback cap of S$80 per month, while the Standard Chartered Unlimited Cashback Credit Card has no cashback cap. So, if you’re looking for a card with no annual fee and no cashback cap, the Standard Chartered Unlimited Cashback Credit Card might be a better option for you.
In summary, the Standard Chartered Unlimited Cashback Credit Card is a great option for those looking for a no annual fee, no minimum spend requirement, and no cashback cap credit card. While other cards may offer slightly higher cashback rates, the Standard Chartered Unlimited Cashback Credit Card’s lack of fees and restrictions make it a strong contender in the Singapore credit card market.
Spending Categories and Rewards
When it comes to credit cards, rewards are a major factor to consider. The Standard Chartered Unlimited Cashback Credit Card offers unlimited cashback on all spendings, making it an excellent choice for those who want to earn rewards without worrying about spending categories. However, it’s important to note that other credit cards in Singapore offer higher cashback rates for specific spending categories.
Dining and Entertainment
If you enjoy dining out or going to the movies, you may want to consider the Citi Cash Back+ Card. This card offers 8% cashback on dining, groceries, and petrol, and 0.25% cashback on all other spendings. The Maybank Family & Friends Card is another great option for dining and entertainment, offering 8% cashback on dining, groceries, and petrol, and 0.3% cashback on all other spendings.
Travel and Transport
For those who frequently travel or use public transport, the Standard Chartered Visa Infinite Credit Card is a great choice. This card offers 1.4 miles per dollar spent on local spendings and 3 miles per dollar spent on foreign currency transactions. The Citi PremierMiles Card is also a good option for travel, offering 1.2 miles per dollar spent locally and 2 miles per dollar spent overseas.
Shopping and Online Purchases
If you frequently shop online or in stores, the UOB One Card offers up to 5% cashback on all spendings, including online shopping. The OCBC Titanium Rewards Card is another great option for shopping, offering 4 miles per dollar spent on online and offline shopping, including overseas spendings.
Overall, the Standard Chartered Unlimited Cashback Credit Card is an excellent choice for those who want to earn unlimited cashback on all spendings without worrying about spending categories. However, if you spend more in specific categories such as dining, travel, or shopping, other credit cards in Singapore may offer higher cashback rates.
Exclusions and Limitations
When it comes to credit cards, it’s important to understand the exclusions and limitations that come with them. In this section, we’ll take a closer look at the Standard Chartered Unlimited Cashback Credit Card and how it compares to other credit cards in Singapore.
Caps on Cashback
One of the main advantages of the Standard Chartered Unlimited Cashback Credit Card is that it has no cashback cap. This means that you can earn unlimited cashback on all eligible spending, without having to worry about hitting a maximum limit.
However, many other credit cards in Singapore do have cashback caps. For example, the UOB One Card has a cashback cap of $300 per quarter, while the Citi Cash Back Card has a cashback cap of $80 per month. If you tend to spend a lot on your credit card, these caps can be a major limitation.
Excluded Transactions
Another important factor to consider when choosing a credit card is the types of transactions that are excluded from earning cashback. With the Standard Chartered Unlimited Cashback Credit Card, there are some exclusions to be aware of.
For example, cash advances, balance transfers, and any fees or charges are not eligible for cashback. Additionally, transactions made at merchants that do not accept Mastercard are also excluded.
It’s worth noting that other credit cards in Singapore may have different excluded transactions. For example, the HSBC Revolution Card excludes transactions related to insurance, while the OCBC 365 Card excludes transactions related to government services and education.
Overall, it’s important to carefully review the exclusions and limitations of any credit card you’re considering. While the Standard Chartered Unlimited Cashback Credit Card has some unique benefits, it may not be the best choice for everyone depending on their spending habits and needs.
Additional Benefits and Offers
Standard Chartered Unlimited Cashback Credit Card comes with a range of additional benefits and offers that make it stand out from other credit cards in Singapore. Here are some of the benefits you can enjoy:
Promotions and Discounts
With Standard Chartered Unlimited Cashback Credit Card, you can enjoy exclusive promotions and discounts at various merchants. For example, you can get up to 15% off at participating restaurants, or up to 20% off at participating hotels. You can also enjoy discounts on travel, shopping, and entertainment. Keep an eye out for the latest promotions and discounts on the Standard Chartered website or mobile app.
Insurance and Protection
Standard Chartered Unlimited Cashback Credit Card also offers various insurance and protection benefits to give you peace of mind. For example, you can enjoy up to S$1 million coverage for accidental death and permanent disability. You can also get up to S$50,000 coverage for medical expenses incurred overseas. In addition, you can enjoy purchase protection and extended warranty coverage on eligible purchases made with your card.
Other credit cards in Singapore may offer similar benefits, but Standard Chartered Unlimited Cashback Credit Card stands out with its comprehensive coverage and generous benefits. Keep in mind that terms and conditions apply, so be sure to read the fine print before taking advantage of any benefits or offers.
Overall, Standard Chartered Unlimited Cashback Credit Card offers a range of benefits and offers that make it a great choice for anyone looking for a credit card in Singapore. Whether you’re looking for cashback rewards, exclusive promotions, or insurance and protection benefits, Standard Chartered Unlimited Cashback Credit Card has you covered.
Fees and Charges
When it comes to choosing a credit card, one of the most important factors to consider is the fees and charges. In this section, we will compare the fees and charges of the Standard Chartered Unlimited Cashback Credit Card with other credit cards in Singapore.
Annual Fee Waivers
The Standard Chartered Unlimited Cashback Credit Card has an annual fee of S$192.60. However, if you spend at least S$6,000 per year, the annual fee will be waived. This is a great feature for those who use their credit card frequently and want to avoid paying an annual fee.
Other credit cards in Singapore also offer annual fee waivers. For example, the UOB One Card has an annual fee of S$192.60, but it can be waived if you spend at least S$12,000 per year. The American Express True Cashback Card has an annual fee of S$171.20, but it can be waived if you spend at least S$5,000 per year.
Foreign Transaction Fees
One of the downsides of using a credit card for overseas transactions is the foreign transaction fee. The Standard Chartered Unlimited Cashback Credit Card has a foreign transaction fee of 3.5%, which is a little higher than other cards such as the UOB EVOL (3.25%), the HSBC Advance (2.8%), and the AMEX True Cashback card (2.95%).
It is important to note that some credit cards do not charge foreign transaction fees at all. For example, the DBS Visa Debit Card and the OCBC 365 Credit Card do not charge foreign transaction fees. If you frequently travel overseas or make transactions in foreign currencies, it may be worth considering a credit card that does not charge foreign transaction fees.
In summary, the Standard Chartered Unlimited Cashback Credit Card has a reasonable annual fee and foreign transaction fee. However, depending on your spending habits and travel frequency, you may want to consider other credit cards that offer more favourable fee structures.
Eligibility and Application
Income Requirements
To be eligible for the Standard Chartered Unlimited Cashback Credit Card, you need to have a minimum annual income of £30,000. This is higher than some other cashback credit cards in Singapore, such as the Amex True Cashback Card and the Citi Cash Back+ Card, which have a minimum annual income requirement of £20,000 and £30,000, respectively.
Credit Card Application Process
The application process for the Standard Chartered Unlimited Cashback Credit Card is straightforward and can be done online. You will need to provide personal information such as your name, contact details, and employment status. You will also need to submit documents such as your NRIC or Passport, income tax statements, and payslips to prove your income.
Once you have submitted your application, it will be processed within a few business days. If your application is approved, you will receive your credit card within a week. You can activate your credit card by following the instructions provided with the card.
Overall, the Standard Chartered Unlimited Cashback Credit Card is a great option if you meet the income requirements and are looking for a credit card with unlimited cashback. The application process is simple, and you can apply online from the comfort of your own home.
Maximising Cashback Rewards
If you’re looking to maximise your cashback rewards, the Standard Chartered Unlimited Cashback Credit Card is a great option to consider. However, there are other cashback credit cards in Singapore that you may want to compare to see which one is the best fit for your spending habits.
Strategic Spending
To maximise your cashback rewards, it’s important to strategically plan your spending. Take a look at your monthly expenses and identify which spending categories you spend the most on. Then, choose a cashback credit card that offers high cashback rates on those categories.
For example, if you spend a lot on dining and entertainment, the Citi Cash Back+ Card offers 8% cashback on dining, groceries, and petrol. On the other hand, if you’re a frequent traveler, the HSBC Visa Platinum Credit Card offers up to 5% cashback on travel-related expenses.
Tracking and Managing Expenses
To ensure you’re getting the most out of your cashback credit card, it’s important to track and manage your expenses. This can be done through a budgeting app or spreadsheet to keep track of your spending and ensure you’re staying within your budget.
By tracking and managing your expenses, you can also identify areas where you may be overspending and adjust your spending habits accordingly. This can lead to significant savings over time, allowing you to maximise your cashback rewards even further.
In summary, by strategically planning your spending and tracking your expenses, you can maximise your cashback rewards with the Standard Chartered Unlimited Cashback Credit Card or other cashback credit cards in Singapore. Take the time to compare different cards and choose the one that best fits your spending habits to ensure you’re getting the most out of your cashback rewards.
Final Thoughts
Congratulations! You now have a better understanding of the Standard Chartered Unlimited Cashback Credit Card and how it compares to other credit cards in Singapore.
Overall, the Standard Chartered Unlimited Cashback Credit Card is a great option for those who want to earn cashback on their spending without worrying about minuscule limits. With a flat 1.5% cashback on all eligible spending, this card is perfect for those who want to earn cashback on all their purchases.
However, keep in mind that there are other credit cards in Singapore that offer higher cashback rates for specific categories such as dining, travel, and online spending. If you spend a lot in these categories, it may be worth considering other credit cards that offer higher cashback rates for these categories.
Additionally, the Standard Chartered Unlimited Cashback Credit Card has a higher annual fee compared to some other credit cards in Singapore. Therefore, you should consider your spending habits and whether the cashback earned will offset the annual fee.
In conclusion, the Standard Chartered Unlimited Cashback Credit Card is a great option for those who want a straightforward cashback credit card with no minimum spend or cashback cap. However, if you spend a lot in specific categories, you may want to consider other credit cards that offer higher cashback rates for those categories.
Frequently Asked Questions
What perks make the Standard Chartered Unlimited Cashback Card stand out from other Singaporean cashback cards?
The Standard Chartered Unlimited Cashback Card is an attractive option for those looking for a simple and straightforward cashback card. With no minimum spend and no cashback cap, you can earn unlimited cashback on all your purchases. Additionally, the card offers a range of benefits, including discounts on dining, shopping, and travel.
How does the cashback on the Standard Chartered Unlimited compare to the UOB Absolute Cashback Card?
While the UOB Absolute Cashback Card offers a higher cashback rate of 1.7%, it comes with a minimum spend of SGD 2,000 per statement period. The Standard Chartered Unlimited Cashback Card, on the other hand, offers a lower cashback rate of 1.5%, but with no minimum spend required. Therefore, the Standard Chartered Unlimited Cashback Card may be a better option for those who don’t want to be tied down by a minimum spend requirement.
Which credit card offers the most appealing cashback for young adults in Singapore?
For young adults in Singapore, the Citi Cash Back+ Mastercard is a popular choice. It offers a high cashback rate of 1.6% with no minimum spend required. Additionally, new cardholders can enjoy 6% cashback on their first two months of spending (up to SGD 240). However, the Standard Chartered Unlimited Cashback Card may still be a good option for those who prefer a simpler cashback card with a lower cashback rate.
Can you explain the advantages of a cashback card over a standard rewards card?
While both cashback cards and rewards cards offer benefits, cashback cards are generally simpler and more straightforward. With a cashback card, you earn a percentage of your spending back in cash. This can be more appealing to those who prefer a tangible reward rather than points or miles that may have limited redemption options. Additionally, cashback cards typically have fewer restrictions and blackout dates compared to rewards cards.
In terms of cashback benefits, how does the Standard Chartered Simply Cash Card measure up against the competition?
The Standard Chartered Simply Cash Card offers a competitive cashback rate of 1.5% with no minimum spend required. Additionally, new cardholders can enjoy a 6-month subscription to Disney+ for free. However, compared to the Standard Chartered Unlimited Cashback Card, the Simply Cash Card may be less appealing to those who want unlimited cashback with no cap.
Are there any unique features of the Citi Cash Back Card that outshine the Standard Chartered Unlimited Cashback Card?
While the Citi Cash Back Card offers a high cashback rate of 1.6%, it also comes with a minimum spend requirement of SGD 888 per statement period. Additionally, the card offers a range of benefits, including discounts on dining, shopping, and travel. However, the Standard Chartered Unlimited Cashback Card may still be a good option for those who prefer a simpler cashback card with no minimum spend and no cashback cap.
