Best Unlimited CashBack Credit Card
Standard Chartered Unlimited Cash Back Credit Card
on All Spendings
Sign-up Gift
Funds Transfer
The promise: 1.5% cashback on all your spending with no cashback cap plus many other perks. So, are these features as fantastic as claimed by Standard Chartered Bank (SCB)? How meaningful are these benefits to you? Is there a catch? In this review, we delve deeper to answer these questions and more.
Standard Chartered Unlimited Cash Back Credit Card Rewards
Key Features
- Earn back 1.5% of all spend with no minimum spend required and no cap on cashback
- Up to S$20,000 approved funds transfer with no interest
- 100% rebate on processing fee plus additional $80 bonus cashback
- S$250 rebate upon successful application and minimum spending of S$200 within the first 30 days
- Double your cashback rate to 3% by linking your Standard Chartered Unlimited Cashback Credit Card to an Unlimited$aver savings account
Cashback
- 1.5% cashback (and up to 3% with an Unlimited$aver account) on all eligible spend. These include online shopping within Singapore as well as all overseas spend.
- Cashback eligibility is subject to terms and conditions. Some payments to educational, financial, and government institutions, for instance, may not qualify.
Petrol
- For Platinum 98 with Techron, you receive:
- 16% instant discount (including 5% site discount) plus;
- 5% rebate on the net transaction plus;
- 5% rebate on the net amount charged to your Unlimited Cashback card
- For Premium 95 with Techron or Caltex Diesel with Techron, you receive:
- 14% instant discount (including 5% site discount) plus;
- 5% rebate on the net transaction plus;
- 5% rebate on the net amount charged to your Unlimited Cashback card
Shopping
- Standard Chartered’s The Good Life benefits program gives you perks and privileges in over 3,000 outlets in Asia.
- 1.5% rebate on eligible purchases, no minimum spending required, no cashback cap.
Pros & Cons
Pros
- 1.5% cashback rate for all spend, no minimum to qualify, no cashback cap
1.5% additional cashback boosting the base rate to 3% by linking the card to an Unlimited$aver account - Use SC EasyBill to earn cashback Earn rebates on IRAS, education, insurance, rental payment, and more through the SC EasyBill
- Use SC EasyBill to earn cashback Earn rebates on IRAS, education, insurance, rental payment, and more through the SC EasyBill
- The Good Life provides fantastic exclusive benefits and privileges on retail, dining, and online shopping
- 2-year annual fee waiver
Cons
- Requires a hefty minimum deposit requirement on your Unlimited$aver account to qualify for a higher cashback rate
How to Apply
Age Requirement
21 years old and above
Minimum Annual Income
Singapore and Permanent Residents
S$30,000
Foreigners
S$60,000
Fees and Charges
| Annual Fee | S$192.60 |
| Fee waiver | Waive for First 2 Years |
| Annual Interest Rate | 26.9% p.a. |
| Late Payment Fee | S$100 |
| Cash Advance Fee | 6% of the cash advance, subject to a minimum fee of S$15 plus finance charges of 0.082% per day on the cash advance from the transaction date until the full payment date |
| Minimum Monthly Spend / Monthly Payment: | S$50 or 1% of principal plus interest, fees & charges, and any overlimit amount/past due amount, whichever is higher |
| Foreign Currency Transaction Fee | Prevailing charge of 1% and a prevailing fee of 2.5% of the converted Singaporean dollar |
Income Documents
- For Existing Standard Chartered Credit Cardholders
- No documents are required.
- However, if there has been a recent change to your income, please submit your updated documents for review during the application process.
- For New Customers or Existing Customers with Change(s) in Income/Employment
- For SingPass holders applying with MyInfo.
- No documents are required.
- For salaried employees:
- Copy of NRIC (front and back)
- Latest computerised payslip OR
- Latest 6 months’ CPF Contribution History Statement OR
- To be considered for a higher loan amount, please submit your latest Income Tax Notice of Assessment (NOA) in addition to the above.
- For self-employed
- Copy of 2 year income tax notice of assessment (must be in business for a minimum of 2 years)
- For commission earner (any one from below)
- Latest 3 months payslip + Latest income tax notice of assessment
- Latest 6 months CPF contribution history statement
- Latest 3 months payslip
- Copy of 2 year income tax notice of assessment ( For 100% commission earner)
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Standard Chartered Unlimited Cashback Card Compares with Others
The Unlimited Cashback Card does not have the highest cashback rewards rate among all cashback credit cards. That being the case, why would you choose this card over other cashback credit cards?
In the following table, we made a comparison between the most popular cards available on the market.
Cashback Rate | Minimum Spend | Cashback Cap | |
AMEX True Cashback Card | 1.5%; 3% for first six months on a maximum spend of S$5,000 (equivalent to S$150) | S$0 | No cap |
Citibank Citi Cash Back+ Card | 1.6%; 4.5% for the first three months on a maximum spend of S$5,000 (equivalent to S$225) | S$0 | No cap |
HSBC Advance Credit Card | 2.5% base cashback on S$2,000 and above; 1% bonus cashback with minimum S$2,000 deposit | S$2,000 spend per month | S$70 per month |
SCB Unlimited Cashback Card | 1.5% | S$0 | No cap |
UOB One Card | Up to 10% on some merchants | S$2,000 spend per month | S$300 per quarter |
Our Verdict
Standard Chartered Unlimited Cashback credit card is not the only card without a minimum spend or imposing a cap on the cashback. Where most cards of this category differ is in the perks given as a new member. For example, a bonus for signing up or higher base rates for a certain period is expected.
The key features that should matter to you include:
- Decent cashback rate with no limitations
- Excellent petrol, dining offers, and lifestyle benefits
- Competitive welcome offer
To decide if the Standard Chartered Unlimited Cashback Credit Card is for you, you must look at your average monthly spending. If you spend around S$7,000 per month or more, then go ahead. Earning rebates from your credit card expenditures is too good to pass up.
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FAQs
Does the Standard Chartered Unlimited Cashback Credit Card come with different tiers?
The beauty of using this credit card is that there are no tiers. You are not forced to do track and spend to meet some cashback requirements. So as long as a purchase qualifies as an eligible spend, you earn a cashback.
Do I need to make a minimum spend to earn a cashback?
There is no minimum spending to earn a cashback on your Standard Chartered Unlimited Cashback Credit Card.
How soon does Standard Chartered credit cashback to your credit card?
Standard Chartered credits any cashback earned to your next statement month.
Is there a cap on earning cashback?
Standard Chartered Unlimited Cashback Credit Card has no such cap. And that is why it is an excellent choice, especially when you make big purchases.
Which transactions do not qualify for cashback?
The Standard Chartered Unlimited Cashback Credit Card terms and conditions may change at any time in the future. Follow this link to see the latest and most accurate list of exclusions.
How does EZ-Reload work?
The Standard Chartered Unlimited Cashback Card works like an EZ-Link card. That is because it has the EZ-Link facility enabled. Before you can use this service, though, you have to activate it using the Autoload Reference Number (ARN).
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