If you’re looking for a credit card that offers cashback without any fuss, the Simply Cash Credit Card from Standard Chartered Singapore might be just what you need. With a flat 1.5% rebate rate, this card gives you unlimited cashback on all your spends, with no minimum spend and no cap on cashback.
One of the key features of the Simply Cash Credit Card is its simplicity. You don’t need to worry about any complicated rewards systems or tiers – you’ll earn the same 1.5% cashback rate on all your purchases, whether you’re buying groceries, filling up your petrol tank, or booking a holiday. This makes it a great option for anyone who wants a straightforward credit card that still offers valuable rewards.
To apply for the Simply Cash Credit Card, you need to be a Singaporean resident or permanent resident aged 21 or over, with an annual income of at least $30,000. You can apply online, and if you’re approved, you’ll receive your card within 7 working days. You’ll also be eligible for a range of promotions and benefits, including cashback offers and discounts at popular retailers and restaurants.
Key Features of Simply Cash Credit Card
Are you looking for a credit card that offers unlimited cashback with no cap? Look no further than the Standard Chartered Simply Cash Credit Card! Here are some of the key features that make this card an excellent choice for savvy spenders in Singapore.
Unlimited Cashback and No Cap
With the Simply Cash Credit Card, you can earn unlimited cashback on all your spend, with no minimum spend and no cap on cashback. That means you can earn cashback on every dollar you spend, whether you’re shopping for groceries, dining out, or booking a holiday. Plus, the cashback is credited to your account automatically every month, so you don’t have to worry about redeeming points or meeting redemption thresholds.
Annual Fee and Waivers
The Simply Cash Credit Card has an annual fee of $192.60, but don’t let that put you off. Standard Chartered offers a variety of ways to waive the annual fee, including spending a minimum amount on your card each year or holding a certain type of account with the bank. Check the Standard Chartered website for the latest information on annual fee waivers and eligibility criteria.
Interest Rates and EIR
The interest rate on the Simply Cash Credit Card is 26.9% per annum, which is standard for most credit cards in Singapore. However, it’s important to note that if you don’t pay your balance in full each month, you’ll be charged interest on your outstanding balance. The Effective Interest Rate (EIR) for the Simply Cash Credit Card is 29.9% per annum, which takes into account the compounding of interest charges and any other fees or charges associated with the card.
In summary, the Standard Chartered Simply Cash Credit Card is an excellent choice for anyone looking for a credit card with unlimited cashback and no cap. With a variety of ways to waive the annual fee and a competitive interest rate, this card is a smart choice for savvy spenders in Singapore.
Eligibility and Application
If you are interested in applying for the Simply Cash Credit Card in Singapore, there are a few things you need to know about eligibility and application. Here are the details:
Income Requirements for Singaporeans and Foreigners
To be eligible for the Simply Cash Credit Card, you need to meet certain income requirements. If you are a Singapore citizen, you need to have a minimum annual income of S$30,000. If you are a foreigner, you need to have a minimum annual income of S$60,000.
Necessary Documents and Application Process
When applying for the Simply Cash Credit Card, you will need to provide some necessary documents such as your NRIC and computerised payslip. The application process is straightforward and can be completed online.
To apply for the Simply Cash Credit Card, follow these steps:
- Visit the Standard Chartered Singapore website and navigate to the Simply Cash Credit Card application page.
- Fill in the application form with your personal information, employment details, and income information.
- Upload the necessary documents such as your NRIC and computerised payslip.
- Review your application and submit it.
Once you have submitted your application, it will be reviewed by Standard Chartered. If your application is approved, you will receive your Simply Cash Credit Card in the mail.
Overall, the Simply Cash Credit Card is a great option for those looking for a fuss-free cashback credit card in Singapore. With its unlimited cashback at a flat 1.5% rebate rate and additional benefits such as Caltex petrol, dining, and shopping promotions, it is worth considering if you meet the income requirements and are looking for a reliable cashback credit card.
Rewards and Benefits
If you are looking for a credit card that offers great rewards and benefits, the Standard Chartered Simply Cash Credit Card could be the perfect choice for you. This card provides a range of exclusive discounts and offers, as well as insurance and protection benefits to help you stay secure and protected.
Exclusive Discounts and Offers
When you use your Standard Chartered Simply Cash Credit Card, you can enjoy a range of exclusive discounts and offers. For example, you can get up to 24.5% savings with Caltex, which is perfect if you are a frequent driver. You can also enjoy discounts on dining, shopping, and entertainment with The Good Life program.
Insurance and Protection Benefits
In addition to exclusive discounts and offers, the Standard Chartered Simply Cash Credit Card also provides insurance and protection benefits. This includes travel insurance, purchase protection, and extended warranty coverage. With these benefits, you can have peace of mind knowing that you are protected against unexpected events.
Overall, the Standard Chartered Simply Cash Credit Card is an excellent choice if you want a credit card that provides great rewards and benefits. With exclusive discounts and offers, as well as insurance and protection benefits, you can enjoy a range of perks while staying secure and protected.
Understanding Fees and Charges
When it comes to credit cards, it is important to understand the fees and charges that come with them. The Simply Cash Credit Card from Standard Chartered Singapore is no exception. Here is what you need to know about the fees and charges associated with this card.
Transaction and Service Fees
There are no annual fees for the Simply Cash Credit Card, which is a great benefit. However, there are some transaction and service fees that you should be aware of.
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Foreign Currency Transaction Fee: If you use your card to make purchases in a foreign currency, you will be charged a fee of 1.5% of the transaction amount. This fee will be charged in Singapore dollars.
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Cash Advance Transaction Fee: If you use your card to withdraw cash from an ATM, you will be charged a fee of 6% of the transaction amount or $15, whichever is higher.
Penalties for Late Payment and Overlimit
It’s important to make your credit card payments on time to avoid penalties. Here are the penalties associated with late payments and overlimit.
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Late Payment Fee: If you do not make your minimum payment by the due date, you will be charged a late payment fee of $100.
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Overlimit Fee: If you exceed your credit limit, you will be charged an overlimit fee of $40.
It is important to note that these fees and charges are subject to change, so it’s always a good idea to check with Standard Chartered Singapore for the most up-to-date information.
Overall, the fees and charges associated with the Simply Cash Credit Card from Standard Chartered Singapore are reasonable and easy to understand. By being aware of these fees and charges, you can use your card responsibly and avoid unnecessary expenses.
Comparison with Other Credit Cards
When it comes to cashback credit cards in Singapore, the Standard Chartered Simply Cash Credit Card stands out from the rest. However, it’s always a good idea to compare and evaluate the card’s features against other popular credit cards in the market.
Comparing Cashback Rates
The Simply Cash Credit Card offers up to 1.5% cashback on all spending, with no cashback cap and no minimum spending requirements. This is a great feature that sets it apart from other cards that may have higher cashback rates but come with strings attached. For example, the UOB One Card offers up to 5% cashback but requires a minimum spend of $500 per month and has a cashback cap of $300 per quarter.
The American Express True Cashback Card is another popular cashback card that offers up to 1.5% cashback on all spending. However, it does come with a minimum spend of $1,000 per month to qualify for the cashback rate.
Evaluating Fee Structures
When it comes to fee structures, the Simply Cash Credit Card has no annual fee for the first two years, after which a fee of $192.60 per year applies. This is a reasonable fee compared to other cards that may charge higher annual fees.
The POSB Everyday Card, for example, has an annual fee of $192.60 but offers lower cashback rates of up to 1%. The UOB Absolute Cashback Card, on the other hand, has a higher annual fee of $192.60 but offers up to 1.7% cashback on all spending.
Overall, the Standard Chartered Simply Cash Credit Card is a great option for those looking for a fuss-free cashback credit card with no minimum spending requirements or cashback caps. However, it’s always a good idea to compare and evaluate the card’s features against other popular credit cards to find the one that best suits your needs and spending habits.
Frequently Asked Questions
What splendid benefits come with the Standard Chartered Simply Cash Credit Card?
The Standard Chartered Simply Cash Credit Card offers unlimited cashback with no minimum spend or cashback cap, making it an excellent choice for those who want to earn cashback on all their purchases. Additionally, cardholders can enjoy discounts and promotions on dining, petrol, and shopping.
How does the cashback system work for the Simply Cash Credit Card?
The cashback system for the Simply Cash Credit Card is straightforward. Cardholders can earn up to 1.5% cashback on all eligible spending, with no minimum spend or cashback cap. The cashback is credited directly to the cardholder’s account every month.
Are there any annual fees associated with the Simply Cash Credit Card, and if so, how can they be waived?
Yes, there is an annual fee of $192.60 for the Simply Cash Credit Card. However, the fee can be waived if the cardholder spends at least $6,000 per year on the card.
What are the terms and conditions I should be aware of for the Simply Cash Credit Card?
Cardholders should be aware that the cashback earned on the Simply Cash Credit Card is subject to a monthly cap of $150. Additionally, the cashback earned is not eligible for redemption as cash, but only as a credit towards the cardholder’s outstanding balance.
How does the Simply Cash Credit Card fare when compared to other cashback cards on the market?
The Simply Cash Credit Card offers competitive cashback rates and benefits, making it a great choice for those looking for a fuss-free cashback card. However, it’s always a good idea to compare different cards and their benefits to find the one that best suits your spending habits and lifestyle.
What’s the minimum spend required to start earning cashback with the Simply Cash Credit Card?
There is no minimum spend required to start earning cashback with the Simply Cash Credit Card. Cardholders can earn cashback on all eligible spending, no matter how small the purchase.