SC Unlimited Cashback Credit Card Review: A Cashback Card That Doesn’t Stop Giving

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SC Unlimited Cashback Card

Who doesn’t love cashback credit cards? The whole concept of saving while spending is weirdly satisfying and that is the exact type of satisfaction you will get from a cashback credit card. If you’re one of the many Singaporeans who loves cashback credit cards, we have some good news for you.

Standard Chartered recently launched a new cashback credit card with unlimited cashback. Read on to know more.

Promotions that you’ll love

Before we get into the details about the Standard Chartered Unlimited Cashback Card, let’s look at the promotions offered on the card currently:

Customers who apply for the credit card get to receive:

  • Up to S$138 Cashback

We’ve always liked Standard Chartered promotions, they are often quite generous, especially compared to other cards which may give you up to $80 cashback or brandless luggage bags. Now that we know about the promotions, let us look into the features of the credit card.

Cashback – What can you expect?

The card offers a cashback of 1.5% on all eligible spends and a cashback of 3% on all eligible foreign spends. You won’t need to spend a minimum amount to enjoy the 1.5% cashback, nor will you face earn caps, or need to spend on specific categories to enjoy the cashback.

Singapore’s credit card market is flooded with cashback cards of all varieties. Most of them have complicated terms and conditions tagged to how you can get your cashback. If you’ve been frustrated by this before, then you’ll find this a refreshing change. This is a straightforward card with benefits that are easy to remember.

Read also: 10 Best Cashback Credit Cards for Grocery Shopping in Singapore

Multipurpose card – What does that mean?

This cashback credit card is a multipurpose credit card. No, it won’t act as a membership card to the Swiss Club but it definitely doubles up as an EZ link card.

Honestly, this isn’t that useful anymore now that you can pay for your public transport fares with your Mastercard credit card.

Privileges – How good are they?

As much as the cashback is useful, you’ll benefit much more on discounts and 1-for-1 deals if it comes with the card. Expect to get these privileges along with the unlimited cashback:

  • Enjoy 20% cashback on Uber fares. (note: minimum monthly spend of S$600 on qualifying transactions is required)
  • $0 admin fee for SMRT Taxi Rides.
  • Complimentary parking with a minimum spend of $100 per day in a single receipt at TANG PLAZA.
    10% off total bill at Harry’s.
  • 1-for-1 at Krispy Kreme, Swensen’s, Spinelli and SaladStop!
  • The Good Life privileges applicable to any Standard Chartered cardholder

Standard Chartered Unlimited Cashback Credit Card Vs American Express True Cashback Credit Card
Is there another card that is similar to the Standard Chartered Unlimited Cashback Card? Yes, and that’s the American Express True Cashback Credit Card. Let’s see how they stack up against each other.

Card Standard Chartered Unlimited Cashback Credit Card The American Express True Cashback Credit Card.
Cashback 1.5% cashback on all eligible spends 1.5% cashback on all eligible spends
Bonus Cashback Additional 1.5% on all eligible foreign spends (Until 31th Oct) NA
Welcome offers Up to S$138 Cashback The introductory offer will let you enjoy 3% cashback up to a total of S$5,000 spend for the first 6 months

(worth S$75, assuming 1.5% additional cashback from S$5,000 spend)

Annual fee S$192.60 (waived off for the first two years) S$171.20 (waived off for the first year)

 

Related: American Express True Cashback Card Review: What to Know Before Applying

Both credit cards are very similar, particularly after the promotional periods. Assuming that you have no preference over an American Express card or a Mastercard, the Standard Chartered Unlimited Cashback Card will offer you more value.

Why do I say that?

That’s because the Unlimited Cashback Card’s welcome offer is more than the S$75 you can earn in additional cashback from the True Cashback Card, and you still enjoy 3% cashback on foreign spends until 31 Oct. This will be useful if you’re travelling soon.

Another factor to consider is whether Standard Chartered’s The Good Life privileges or American Express Selects is more relevant for your lifestyle. These benefits offer you far more in return than what 1.5% cashback can.

If you have been looking for a cashback credit card and are comparing between these two cards, we think that the Standard Chartered Unlimited Cashback Credit Card is one that’s worth getting.

Follow us on Facebook and visit BankBazaar.sg to compare credit cards that give you the most rewards for your spending.

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4 Comments

  1. Although there is no minimum spend for the 1.5% cashback, you might want to note about the minimum spend to get 20% cashback on uber.

  2. I am an SC credit card holder. I feel that standard Chartered has the highest charge of 3.5% on Foreign currency transactions.

    They even charge extra 1% on uber rides.

    I feel that the sc card is not very helpful for foreign currency transactions and uber rides based on the above observation

  3. BankBazaar

    Yikes, that forex charge is very high! Most other banks charge about 2.8%, and AMEX charges 2.5%. As for the Uber rides, it might the be cross border transaction fee that you would incur with most cards and banks. This is because Uber transactions, though billed in SGD, are processed overseas.

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