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Standard Chartered Credit Cards Review 2021 | SCB Unlimited, Spree, Rewards, X, Priority Banking - YouTube
Channel: Chris @HoneyMoneySG
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have you always wanted to apply for a standard聽
chartered credit card but don't know which is聽聽
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the right card to apply for and when is the best聽
time to apply for then you need to watch this聽聽
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video because i will review all the standard聽
chartered credit cards that i have now and聽聽
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also give a quick breakdown and review of every聽
credit card that i have from standard chartered聽聽
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so that you can make a better informed decision聽
of which card to apply for so with that let's go聽聽
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what's up guys welcome back to honey money sg my聽
name is christopher and in this channel we are聽聽
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all about building financial knowledge teach聽
money saving hacks and also help you lead a聽聽
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fulfilling quality of life so today let me review聽
all the standard charter credit cards that i have聽聽
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and maybe talk about some of those that i don't聽
so that you can help you analyze which card to go聽聽
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for maybe just let me have a little throwback to聽
one of my earlier days of starting out youtube so聽聽
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remember in february during the chinese new year聽
period i actually published my first credit card聽聽
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review on the best credit card for young adults聽
right here and i talked about the unlimited credit聽聽
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card and the spree credit card being the best聽
credit cards for young adults because they don't聽聽
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have any minimum spend and they offer relatively聽
good rewards and that's why the number one credit聽聽
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card that i would advise young adults to go聽
for is the unlimited credit card it offers 1.5聽聽
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unlimited cashback for all eligible retail spend聽
with no minimum spend and no cap on the cashback聽聽
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you could get it also has two years of annual聽
fee waiver and there is also accelerated cash聽聽
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back rate if you deposit funds in your unlimited聽
savers account but the thing about this card as i聽聽
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mentioned before in my best cashback credit cards聽
review is that this card has been overtaken by聽聽
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many competitors like the maybank barcelona card聽
and the uob absolute card that is giving 1.7聽聽
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absolute cashback which is why also i don't own聽
this card anymore because the competitors are聽聽
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just more attractive than it but i guess if you聽
are just starting out from a credit card journey聽聽
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this is a good card from standard chartered that聽
you will want to get to get the sign up gifts the聽聽
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number two standard chartered credit card that聽
i want to introduce is the scb spree credit card聽聽
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i also talked about this in my earlier standard聽
charter credit card video so what this gives you聽聽
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is two percent of cash back for online local聽
sgd spend as well as contactless when you tap聽聽
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the card on your pay with machines or wire聽
your contactless mobile payment ads such as聽聽
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samsung pay google pay apple pay it also offers聽
three percent on your online foreign currency聽聽
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stores such as amazon aliexpress and iherb so it聽
technically kind of reduces your foreign currency聽聽
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transaction fees so for other kind of retail聽
spend you will just earn one percent cash back so聽聽
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if you put it in the cheap or you swipe the card聽
that doesn't qualify as contactless payments聽聽
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those will get you one percent now the difference聽
between what happened in february versus now is聽聽
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that the cashback cap has been reduced from聽
sixty dollars to thirty dollars effectively聽聽
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reducing half your eligible cashback so let's say聽
last time you can spend three thousand dollars to聽聽
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get sixty dollars of cash back on the two percent聽
cashback rate now you can only spend up to one聽聽
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thousand five hundred dollars to get thirty聽
dollars cashback per statement month so to聽聽
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me there is of a downgrade but i felt that 1500聽
is still a relatively good amount to spend in a聽聽
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month but i myself don't use this card often聽
as well because two percent is generally poor聽聽
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if you can go for the five percent cash back cards聽
with minimum spend requirements i think you should聽聽
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go for that anyway short history of this card this聽
card used to give seven percent cash back last聽聽
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time being called singapore post credit card and聽
that was actually the best cash back credit card聽聽
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at that point of time next up i want to talk about聽
the standard charter rewards card this reward cuts聽聽
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is relatively unpopular because of the poor reward聽
system but i just want to talk about how you can聽聽
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actually maximize it so the biggest draw of this聽
card is you can actually earn 10x in rewards聽聽
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points if you spend it in online foreign currency聽
transactions such as overseas retail overseas聽聽
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dining and travel merchants so that means 10x聽
points will equivalate to four miles per dollar聽聽
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if you actually have a visa infinite card with聽
standard charge at 2.9 mile per dollar if you聽聽
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don't have a visa infinite card sounds confusing聽
right why is there a differentiation between聽聽
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visa infinite and non-visa infinite because the聽
standard chartered rewards redemption home page聽聽
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actually distinguishes between these two so if聽
you have like the premium visa infinite credit聽聽
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card you get to redeem miles and a cheaper rate聽
than your non-visa infinite friends also this card聽聽
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earns you 5x points for every dining transaction聽
so that's effectively two miles per dollar聽聽
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for visa infinite people otherwise you just聽
earn one reward points for every eligible retail聽聽
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transaction which is not much also similar to the聽
spree card and unlimited cashback credit card this聽聽
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card also has two years of annual fee waiver聽
so after two years you can call in to waive the聽聽
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annual fees if you really want to continue using聽
there is also complimentary travel insurance if聽聽
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you charge all your travel purchases into this car聽
up to five hundred thousand dollars anyway there聽聽
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is a limit of twenty thousand reward points capped聽
for the statement year for this rewards card and聽聽
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actually purchases from local hotel restaurants聽
and supermarkets are excluded from the dining span聽聽
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earning you five extra points so all in all聽
the benefits are not much and they have so聽聽
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many limitations i wouldn't even recommend you聽
to use this card other than sign up bonuses okay聽聽
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next card i want to talk about is actually off聽
the market but it's the scb-x card so this card聽聽
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is a metal card and it's pure black metal so it聽
looks really slick right in fact this card earns聽聽
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the best rewards at that point in time in 2019.聽
back in the days of 2019 if you spend six thousand聽聽
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dollars in 60 days you can get up to 100 000 miles聽
or one thousand dollars cash terms and conditions聽聽
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is you need to pay the six hundred and ninety聽
five dollars and fifty cents of annual fee and you聽聽
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could earn up to hundred thousand miles that is聽
a lot if we use hundred thousand miles divided by聽聽
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six thousand dollars you will get this number of聽
miles per dollar spent and that was why standard聽聽
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chartered actually stopped releasing this card聽
because it was probably not profitable for them聽聽
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and there are a lot of large spenders in singapore聽
market so going back in 2020 they actually waived聽聽
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the annual fee of this card that's why i kept聽
it till now but if you ask me whether i'm going聽聽
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to continue using this card it's a straight no聽
for me first off the annual fee is really high聽聽
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and now the rewards are not really great so this聽
card i'll most probably cancel it when they stop聽聽
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waving the annual fee okay so the last standard聽
chartered credit card that i have is the scb聽聽
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priority credit card this card is not open for聽
public application you actually have to qualify聽聽
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as a priority customer with standard charter bank聽
in order to get this card so how to qualify for聽聽
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priority member you have to have 200 000 worth of聽
assets under management with scb and that includes聽聽
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investments as well so you can do their stock聽
trading at a standard charter online trading app聽聽
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and invest in a total of 200 000 worth of assets聽
then you can qualify as a priority member so the聽聽
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benefits of scb trading app is that it is one聽
of the lowest commission for singapore markets聽聽
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trading at ten dollars minimum commission and聽
once you have reached priority banking you will聽聽
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not have the minimum commission of ten dollars聽
and you enjoy very low commission rates of 0.18聽聽
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other priority benefits include using of the聽
bank's lounge so if you go to an ATAS bank聽聽
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in standard chartered you can go to their priority聽
lounge get your free food and free coffee you also聽聽
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have a priority queue if you go to a standard聽
chartered branch to do your banking stuff not聽聽
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only that they also give you 12 priority lounge聽
passes per year that means you can bring yourself聽聽
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your partner your family 12 people all to the聽
airport lounge that's the full version of priority聽聽
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benefits but if your assets under management聽
include investments in the stock market then it聽聽
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will just be a water down version of four passes聽
per year so ultimately they want your assets under聽聽
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management as cash deposits instead of investments聽
but if you ask me all these benefits are quite聽聽
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useless especially during this pandemic situation聽
bank launch you cannot pick your own food and you聽聽
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cannot go for buffet style anymore airline聽
lounge passes i don't even know when is the聽聽
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next time that we can travel in this situation聽
no min commission for scb trading we have tiger聽聽
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brokers and moomoo brokers ready we also have聽
interactive brokers that offers almost nothing聽聽
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if you trade so that's why i took out all聽
my assets under management under them but聽聽
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anyway if you want to know the rewards of this聽
card it earns you one more per dollar for every聽聽
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dollar spent which is poor as well so there's聽
absolutely no reason that you want to get this聽聽
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card in this situation okay so it seems like all聽
the standard chartered credit cards they have聽聽
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talked about seems like quite really mediocre and聽
nothing attractive to really sign you up for but聽聽
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what if i told you singsaver is running this聽
really attractive promotion that can get you聽聽
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300 dollars of cash and other attractive gifts聽
that are worth you taking up your time to sign up聽聽
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for that credit card so for the current promotion聽
singsaver is giving you three hundred dollars聽聽
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worth of cash while paying out if you sign up for聽
standard chartered credit card or if you do not聽聽
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prefer cash you can look at there are other gifts聽
that are mentioned in my referral link below there聽聽
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is definitely some terms and conditions attached聽
so you have to make a minimum spend within the聽聽
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stipulated period and then sign up in their聽
website so as i mentioned new customers means that聽聽
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for the past 12 months they have not held聽
any standard chartered credit card or have聽聽
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they cancelled any standard chartered credit card聽
existing customers will also get 30 dollars via聽聽
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pay now as well so if you have an existing card聽
you could also sign up so let me give you a little聽聽
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secret here if you really don't want to use this聽
card you can just sign up hold it for a few months聽聽
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cancel it and then now you have free money sign up聽
doesn't mean you have to use the card right other聽聽
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than fulfilling the minimum terms and conditions聽
to get that 300 cash so i don't know what you're聽聽
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waiting for just go ahead and sign up it only聽
takes a little bit of your time and you'll give聽聽
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me a little bit of commission for promoting this聽
product to you which helps me to bring in more聽聽
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promotions so that i can let you all know and then聽
you can can earn more money alright so i hope that聽聽
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you have learned some value from this video and聽
help me give a like at the bottom of the video do聽聽
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take a look at more of my credit card content here聽
and consider subscribing if you are interested聽聽
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my name is christopher this is honey money sg聽
steering young adults to financial independence
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