Personal Finance

Standard Chartered Unlimited Cashback Card: All you need to know

Aman Saxena

20.01.20 (updated more than 1 year ago)

Read time 2 minutes

Open to residents with a registered address in the following countries: United States of America, Singapore, Malaysia, Australia or New Zealand.

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Visit the official Standard Chartered Unlimited Cashback Card page for the latest fees, benefits, and eligibility details.

Standard Chartered, a British bank, offers a cashback credit card for customers looking for a new credit line. While it does not include travel-focused perks such as lounge access or air miles, it is important to review the interest rates and fees alongside the cashback benefits before applying.

Table of contents
How does it work? Who is eligible? What can I do with it? Overseas spend

How does the Standard Chartered Unlimited Cashback Card work?

The Standard Chartered Unlimited Cashback credit card functions like a typical credit card. Upon approval, cardholders are issued a credit limit that can be used for purchases. If the full statement balance is not paid by the due date, interest is applied to the outstanding amount. Cardholders should also be aware that additional fees may apply in certain situations, such as missing minimum payments or exceeding the assigned credit limit.

As with any financial product, understanding how fees, interest charges, and account terms work can help you determine whether the card is suitable for your spending and repayment habits.

	Standard Chartered Unlimited Cashback Card¹
Annual fee	S$192.60 starting in year 3
Annual interest rate	26.9%
Overseas exchange rate	Set by Mastercard
Late payment fee	S$ 80
Minimum monthly repayment	S$ 50 or 1% of the balance, whichever is higher
Foreign currency transaction fee	3.5% of the converted S$ amount
Cash advance transaction fee	Minimum of S$ 15, or 6% of the transaction whichever is higher
Overlimit fee	S$ 40

Who is eligible for Standard Chartered Unlimited Cashback Card?

There are different criteria for Singapore citizens/ PR and foreigners to apply for the Standard Chartered Unlimited Cashback Card.

If you are a Singapore citizen or PR, you can apply for the card if you are between the ages of 21-65 with a minimum income of S$ 30,000. You will be required to show your NRIC and income documents, but SingPass holders can apply through MyInfo.

If you are a Foreigner applying for the card, the age eligibility is the same but the income requirement is S$ 60,000. And you are also required to have a Singapore Employment Pass. Similar to Singapore citizens you will need to show proof of identity and income in Singapore.

If you currently hold an existing Standard Chartered credit card, you won’t need to show any additional documents when applying for this card. You can apply online through their website or a local bank branch.²

What can I do with Standard Chartered Unlimited Cashback Card?

The Standard Chartered Unlimited Cashback Card can be used for your regular purchases in Singapore or outside. It works anywhere Mastercard is accepted. If you do make large purchases using the card, there is a feature that can help you make payment installments over 6-12 months to help make payments easier. Overall, the card functions as a general-purpose cashback credit card.

But a way to lure customers to the card is by offering rewards on spending. The Standard Chartered Unlimited Cashback Card offers cashback on eligible purchases. Let’s take a look.

Standard Chartered Unlimited Cashback Card cashback/ rewards

Rather than points, air miles or lounge access, this credit card is primarily focused on cashback rewards. For all retail purchases, you will get 1.5% cashback. Unlike other cards, there is no spending minimum, extra bonuses or even a cap on the amount of cashback you can get. The cashback does not apply for certain transactions like tax payments, recurring payments, insurance premiums or others, so be sure to check the fine print.³

Overseas spend with Standard Chartered Unlimited Cashback Card

With Singaporeans being one of the most frequent travellers in the Asia-Pacific region⁴, it is useful to understand how this card functions when used overseas. International transactions, whether made online or in person, are subject to an automatic 3.25% foreign currency transaction fee applied to each purchase.

For transactions made in foreign currencies, the purchase amount is typically converted first into USD and then into Singapore dollars. The final amount charged depends on the exchange rates applied during this conversion process. In this case, exchange rates are determined by the card network, and they may differ from publicly quoted reference rates.

The same conversion process applies to international online purchases. Understanding how exchange rates and currency conversion work can help you better anticipate the final cost of overseas spending.

Sources used for this article:

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