Standard Chartered Unlimited Cashback Credit Card is Standard Chartered's newest addition to its card arsenal in Singapore. It is a highly rewarding cashback credit card given its unlimited cash rebate of 1.5% for every S$1 you spend. It also comes with a petrol discount of up to 24% at Caltex, as well as an ability to be doubled up as an EZ-Link card. Given that its annual fee of S$192.6 is waived for two years, this is a highly rewarding cashback card that won't break the bank. We hope that our detailed review below will help you decide if the Standard Chartered Unlimited Cashback Card is the best card for your spending habits.
What makes Standard Chartered Unlimited Cashback Card Stand Out: Unlimited 1.5% Cash Back + EZ-Link
Standard Chartered Unlimited Cashback is very straight forward card to understand. It's a very easy card to use and maintain because it has no minimum spending requirements or cap on maximum cash back. Not only that, it provides 1.5% cash rebate on all your expenditures. With this card, you don't have to worry about managing multiple credit card with different set of rewards categories; you can simply keep using Standard Chartered Unlimited card for every dollar you spend, and cash rebate will flow through to your monthly billing statement. Standard Chartered is also providing a 3% cash back on your overseas expenditure, so this card could nicely double up as a travel credit card for some people as well.
We think this card is particularly attractive to high-spenders who spend significantly more than S$2,000 a month. While most credit cards in Singapore are designed to cater to an average customer & hence limit the total amount of cash rebate a card holder can earn, SC Unlimited Cashback Card's rewards increase proportionally with the card holder's spending level. This aspect of the card makes it one of the best cashback credit cards for high spenders. Not only that, this card's annual fee of S$192.6 is also waived for 2 years, meaning you can enjoy unlimited amount cash rebate without paying a dollar in fees for 2 years as long as you pay down your balance on time.
As with every card, Standard Chartered Unlimited Cashback Card is not perfect for everyone. First, given that its maximum cash rebate for categories outside of petrol is 1.5%, consumers who have particularly big spending categories (i.e. dining, groceries, shopping, travel, etc.) could benefit more from other cards that have 5-8% cash rebate for those specific areas of expenditures. Also, for people who may not care too much about getting an EZ-Link card, there are other flat-rate cash back cards that might be a better deal.
Standard Chartered Unlimited Cashback Card Benefits & Features
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How does Standard Chartered Unlimited Cashback Card Compare Against Other Credit Cards?
To help you decide if the Standard Chartered Unlimited Cashback Card is the right card for your lifestyle, we've taken the time to compare it to the leading cashback credit cards in Singapore. Take a look below to see how these cards square up against one another, and see which one best fits your unique set of preferences.
Standard Chartered Unlimited Cashback vs Citi SMRT Card
We think Citi SMRT Card makes more sense than Standard Chartered Unlimited Cashback Card for people who spend more heavily on groceries and daily commutes than others. It provides 7% cash back on your grocery expenditures at Citi's partnering retailers like FairPrice, Giant and Sheng Siong. It also provides a 2% cash back on EZ-Link, slightly higher than SC Unlimited Cashback card's 1.5%. Therefore, Citi SMRT Card could potentially help you save more if your expenditure is more heavily skewed towards these areas compared to other things like shopping, dinning or traveling. Citi SMRT Card is also cheaper to use, as its S$160.5 of annual fee is also waived for 2 years.
Standard Chartered Unlimited Cashback vs Standard Chartered Manhattan World MasterCard
Standard Chartered Manhattan World MasterCard is another flat-rate cashback card from Standard Chartered. It is lightly different from SC Unlimited Cashback card in that Manhattan World card offers 3% flat rebate for people who spend at least S$3,000 per month, 1% for people who spend between S$1,000 and S$2,999 and 0.5% for people who spend less than S$1,000. While its 3% cashback may sound better than Standard Chartered Unlimited Cashback card's 1.5%, Standard Chartered Manhattan World card has a major shortcoming, in our opinion: Manhattan World card's cashback is capped at S$200 per quarter.
This poses a problem because earning 3% on S$3,000 per month should be yielding S$270 of cashback per quarter. Since the rebate is capped at S$200, it means you will be actually receiving 2.22% (S$200/S$9,000) instead of 3%. Therefore, we think SC unlimited Cashback card is the better option than Manhattan World card for most consumers since SC Unlimited Cashback provides an opportunity to earn an unlimited amount of cash rebate at 1.5%.
Standard Chartered Unlimited Cashback vs UOB One Card
We think UOB One Card makes more sense for people who care about almost exclusively about cash rebate and doesn't mind paying a high annual fee. While its annual fee of S$192.6 is waived for only 1 year, UOB One Card provides S$200 quarterly cash back for people who spend S$2,000 a month (i.e. up to 5%), a better yield than than most other flat-rate cards. The only two cases where SC Unlimited Cashback card wins against UOB One card in terms of rebate is people who spend less than S$500 on the card or more than S$7,000 on the card. However, UOB One Card cannot be used as an EZ-Link Card, so if you want to avoid paying high annual fees and care about a card that can be used as an EZ-Link card, SC Unlimited Cashback card could be the better option.
Standard Chartered Unlimited Cashback vs Amex True Cashback Card
American Express True Cashback Card is actually almost identical to Standard Chartered Unlimited Cashback Card: they both come with a 1.5% cash rebate with no cap on maximum one can earn. The only difference is that SC Unlimited Card doubles up as an EZ-Link card and comes with a petrol discount of up to 24%. Although Amex is well known for its special deals for luxurious perks at restaurants, hotels and other establishments, we think Standard Chartered is definitely the better deal among the two. In fact, SC Unlimited Cashback card even comes with a 2 year annual fee waiver (S$192.6 per year) vs Amex True Cashback's 1 year fee waiver (S$171.2).