If you’re a Standard Chartered credit cardholder in Singapore, you may be wondering how to get a fee waiver. Credit card fees can add up quickly, and if you’re not careful, you could end up paying hundreds of dollars in fees each year. Fortunately, Standard Chartered offers fee waivers to eligible cardholders. In this article, we’ll explore how to get a fee waiver and other important information that you need to know.
Understanding fee waivers is crucial if you want to avoid paying unnecessary fees on your credit card. A fee waiver is when your bank agrees to waive a particular fee that you would normally have to pay. This can include annual fees, late payment fees, and more. With Standard Chartered, you can request a fee waiver for a variety of fees, including the annual fee, late payment fee, and more.
To request a fee waiver from Standard Chartered, you’ll need to follow a few simple steps. We’ll go over these steps in detail later in the article, but they include logging into your account, selecting “Help & Services,” and choosing “Card Management.” From there, you can select the fee that you want to waive and submit your request. Keep in mind that not all requests for fee waivers will be approved, so it’s important to understand the bank’s policies and eligibility requirements.
Understanding Fee Waivers
If you’re a Standard Chartered credit card holder, you may be eligible for a fee waiver. Here’s what you need to know about fee waivers.
Exploring Annual Fee Waiver
An annual fee is a fee charged by the credit card issuer for the privilege of using the credit card. Standard Chartered credit cards usually come with an annual fee of $196.20 (w.e.f. 1 Jan 2024). However, you can explore the option of an annual fee waiver.
To request an annual fee waiver, you can use Standard Chartered’s online banking platform or the SC Mobile app. The process is quick and straightforward. You can select up to five cards for fee waiver.
Criteria for Fee Waiver Approval
To be eligible for a fee waiver, you need to meet certain criteria. The following factors are taken into consideration when evaluating your waiver request:
-
Your payment history: Your payment history is an important factor in determining your eligibility for a fee waiver. If you have a history of late payments or missed payments, you may not be eligible for a waiver.
-
Your credit score: Your credit score is another important factor in determining your eligibility for a fee waiver. If you have a low credit score, you may not be eligible for a waiver.
-
Your relationship with Standard Chartered: If you have a long-standing relationship with Standard Chartered, you may be more likely to be approved for a fee waiver.
-
Time of request: If you request a fee waiver during a busy time, such as the end of the month, it may take longer for your request to be processed. Standard Chartered requires at least one working day to process your request.
Overall, if you’re a Standard Chartered credit card holder, it’s worth exploring the option of a fee waiver. By meeting the criteria and submitting your request through the online banking platform or SC Mobile app, you may be able to save money on annual fees.
How to Request a Fee Waiver
If you are a Standard Chartered credit cardholder in Singapore, you may be eligible for a fee waiver. Here’s how you can request a fee waiver:
Online Banking and SC Mobile App
One of the easiest ways to request a fee waiver is through Standard Chartered’s online banking or SC Mobile app. Simply log in to your account, navigate to “Help & Services,” and select “Card Management.” From there, you can select “Credit Card Fee Waiver” and choose the fee type you want to waive. You can then select up to 5 cards for fee waiver.
Contacting Customer Service
If you prefer to speak with a customer service officer, you can contact Standard Chartered’s 24-hour hotline at 6747 7000. You can also submit your waiver request via the automated phone banking system. To do so, call the phone banking hotline and follow the menu options until you are prompted to select “Card Management.” From there, you can select “Credit Card Fee Waiver” and choose the fee type you want to waive.
It’s important to note that credit card fee waivers are not guaranteed for all cardmembers. However, if you have a good credit history and have been a loyal customer, you may have a better chance of having your request approved. Additionally, if your request for a fee waiver is denied, you can ask the customer service officer for an explanation and try again at a later time.
Overall, requesting a fee waiver is a simple process that can save you money on your credit card fees. Whether you choose to do so through online banking or by contacting customer service, be sure to have your credit card details and fee type ready to make the process as smooth as possible.
Rewards and Promotions
As a Standard Chartered Credit Card holder, you can enjoy a range of rewards and promotions that will help you get the most out of your card. Here are some of the benefits you can look forward to:
Maximising Rewards Points
One of the best ways to maximise your rewards points is to use your Standard Chartered Credit Card for your everyday expenses, such as dining and shopping. You can earn points for every dollar you spend, which can then be redeemed for a variety of rewards, including cashback, vouchers, and air miles.
If you’re a frequent flyer, you’ll be pleased to know that Standard Chartered Credit Cards are transfer partners with Singapore Airlines’ KrisFlyer programme. This means that you can transfer your rewards points to KrisFlyer miles, which you can then use to redeem flights, upgrades, and other perks.
Exclusive Cardholder Privileges
As a Standard Chartered Credit Card holder, you can enjoy exclusive privileges at a variety of merchants and establishments. For example, you can enjoy discounts on dining at selected restaurants, as well as special rates on hotel bookings and travel packages.
If you have a Standard Chartered Visa Infinite X Credit Card, you can enjoy even more exclusive privileges, such as access to airport lounges and complimentary travel insurance. Plus, you can earn bonus miles for every dollar you spend, which can help you reach your travel goals faster.
Overall, Standard Chartered Credit Cards offer a range of rewards and promotions that can help you get the most out of your card. By using your card for your everyday expenses and taking advantage of exclusive privileges, you can earn rewards points and enjoy a range of benefits that will make your life easier and more enjoyable.
Managing Your Credit Card Effectively
Managing your credit card effectively can help you avoid unnecessary fees and charges. Here are some tips on how to do so:
Avoiding Late Payment Charges
One of the most important things to keep in mind when managing your credit card is to always pay on time. Late payment charges can add up quickly and end up costing you a lot of money over time. To avoid late payment charges, make sure you pay your credit card bill on or before the due date.
If you’re worried about forgetting the due date, consider setting up a GIRO payment. This will automatically deduct the minimum payment or full payment from your bank account on the due date, ensuring that you never miss a payment.
Strategic Use of Credit Card Features
Credit cards offer a range of features that can help you save money and earn rewards. Here are some tips on how to use them strategically:
-
Cashback: Look for credit cards that offer cashback on your spending. This can help you save money on your everyday expenses.
-
Funds transfer: If you have outstanding debt on other credit cards or loans, consider using a funds transfer feature to consolidate your debt onto one credit card. This can help you save money on interest charges.
-
Minimum spend: Some credit cards offer rewards such as cashback or air miles when you meet a minimum spend requirement. Make sure you understand the minimum spend requirement and plan your spending accordingly.
-
Service fee: Some credit cards charge an annual service fee. Look for credit cards that offer fee waivers or other benefits that can help offset the cost of the service fee.
-
Insurance premiums: Some credit cards offer insurance coverage for travel or other expenses. If you use your credit card to pay for insurance premiums, you may be able to earn rewards or cashback.
By following these tips, you can manage your credit card effectively and avoid unnecessary fees and charges. Remember to always pay on time, and use credit card features strategically to maximise your savings and rewards.
Alternatives to Standard Chartered Fee Waivers
If you are looking for alternatives to Standard Chartered fee waivers, you can consider other banks or evaluate different credit card options. Here are some options to consider:
Comparing with Other Banks
You can compare the fee waiver policies of other banks in Singapore to find the best option for you. Here is a comparison of some popular banks in Singapore:
| Bank | Fee Waiver Policy |
|---|---|
| DBS/POSB | Fee waiver upon request for selected credit cards |
| Citibank | Automatic fee waiver for first year, subsequent years upon request |
| UOB | Automatic fee waiver for first year, subsequent years upon request |
| OCBC | Automatic fee waiver for first year, subsequent years upon request |
| HSBC | Automatic fee waiver for first year, subsequent years upon request |
| Maybank | Automatic fee waiver for first year, subsequent years upon request |
Evaluating Different Credit Card Options
If you are not satisfied with the fee waiver policy of your current credit card, you can evaluate different credit card options. Here are some credit cards that offer no annual fee:
- DBS/POSB Credit Cards with No Annual Fee
- CIMB Credit Cards with No Annual Fee
- UOB No Annual Fee Credit Card
- OCBC No Annual Fee Credit Card
- HSBC Credit Cards No Annual Fee
- Standard Chartered No Annual Fee Credit Cards
- GrabPay Card
- Trust Credit Card
Before selecting a credit card, you should consider your spending habits and the benefits offered by the credit card. You can compare different credit cards using websites such as SingSaver or The Milelion. Additionally, you can consult with credit card experts such as Aaron Wong to get advice on selecting the best credit card for your needs.
Overall, there are many alternatives to Standard Chartered fee waivers in Singapore. By comparing different banks and credit cards, you can find the best option for your needs and save money on annual fees.
Frequently Asked Questions
How can I get my Standard Chartered credit card fee waived in Singapore?
If you’re a Standard Chartered credit cardholder in Singapore, you may be eligible for a fee waiver. To get your fee waived, you can submit a request through the bank’s online banking platform or mobile app. Simply log in, select “Help & Services,” then “Card Management,” and finally “Credit Card Fee Waiver.” You can select the type of fee you want waived and the eligible cards for fee waiver. You can apply for up to five cards.
What’s the process for requesting an annual fee waiver with Standard Chartered online?
To request an annual fee waiver for your Standard Chartered credit card in Singapore, you can follow the same process as above. Log in to your online banking account or mobile app, select “Help & Services,” then “Card Management,” and finally “Credit Card Fee Waiver.” Select the card you want a fee waiver for, agree to the terms and conditions, and submit your request.
Who should I contact at Standard Chartered Singapore for a fee waiver?
If you have any questions or concerns about your Standard Chartered credit card fee waiver in Singapore, you can contact the bank’s customer service team at 1800 747 7000. You can also visit any Standard Chartered branch in Singapore to speak with a representative.
Is it possible to have a late payment fee waived by Standard Chartered?
Yes, it is possible to have a late payment fee waived by Standard Chartered. You can submit a request for a waiver through the bank’s online banking platform or mobile app. Alternatively, you can contact the bank’s customer service team at 1800 747 7000.
What are the criteria for eligibility for Standard Chartered’s fee waiver?
The criteria for eligibility for Standard Chartered’s fee waiver in Singapore may vary depending on the type of fee you want waived. Generally, you must be a Standard Chartered credit cardholder in Singapore and have a good credit score. You may also need to meet certain spending requirements or maintain a minimum balance in your account.
Can supplementary cardholders apply for a fee waiver with Standard Chartered?
Yes, supplementary cardholders can apply for a fee waiver with Standard Chartered in Singapore. However, the primary cardholder must submit the request on their behalf through the bank’s online banking platform or mobile app.