Credit Cards

Standard Chartered Unlimited Cashback Credit Card – MoneySmart Review 2018

SCB Unlimited Cashback Credit Card

Joanne Poh



The premise of the Standard Chartered Unlimited Cashback Credit Card is extremely simple – 1.5% cashback on everything with no minimum spending and no rebate cap.

Okay, so 1.5% doesn’t sound impressive. But most cashback cards require that you fulfil their minimum spending requirements before they’ll grudgingly hand over the rebates, and even so, there’s a limit to how much you can receive.

This cashback card promises you won’t have to suffer any of these two scenarios. Let’s find out if it’s worth signing up for.

Standard Chartered Unlimited Cashback Credit Card terms & conditions

Standard Chartered Unlimited Cashback Credit Card
Annual fee & waiver $193 (waived for 2 years)
Supplementary annual fee
Interest free period
Annual interest rate 25.90%
Late payment fee $80
Minimum monthly repayment 1% or $50, whichever is higher
Foreign currency transaction fee 3.5%
Cash advance transaction fee 6%
Overlimit fee $40
Minimum income $30,000 (Singaporean) / $60,000 (non-Singaporean)
Card association Mastercard
Wireless payment Mastercard PayPass, Apple Pay, Samsung Pay, Google Pay


How does the Standard Chartered Unlimited Cashback Credit Card work?

As a fuss-free, anything-goes card, this is as simple as it gets. You get 1.5% cashback on all spending, with no cashback cap and no minimum spending requirements.

While the 1.5% cashback rate the card offers isn’t really super high, the card’s strength lies in how uncomplicated it is.

If you decide to spend only $10 on your card one month, you still get the 1.5% cash rebates. It doesn’t matter what you use the card on, and you don’t have to worry if you’re using it in the right spending categories, as the 1.5% applies to practically everything (there are a few small exceptions, like taxes and EZ Link top-ups).

On the other end of the spectrum, if you’re going through major (read: very expensive) life changes such as getting married, buying a new home, going on a round-the-world trip to find yourself, this fuss-free credit card will still deliver the same 1.5% rebate on your sky-high expenses.

With most other cashback credit cards, you would burst the rebate cap unless you really dedicate yourself to gaming the system and splitting your expenses. And frankly, who even has time for that!?


Other unlimited cashback credit cards to consider

Standard Chartered’s offering isn’t the only unlimited cashback credit card on the market. American Express, Maybank and even ICBC have entered the fray. But we’ll look at the most mainstream options here:

American Express True Cashback Card – Extremely similar to the Standard Chartered Unlimited Cashback Credit Card as both offer 1.5% cashback. Amex True Cashback has the advantage of also offering 3% cashback during the first 6 months of card membership for your first $5,000 worth of spending. That means that if you spend $5,000 within those three months, you are getting a bonus of $75.

UOB One Card – This card gives more generous rebates on everything, but the main problem is that the minimum spending requirements are high, onerous (you need to hit the target every month in a quarter to qualify for rebates for that quarter) and confusing. If you’re looking for simplicity, avoid this card, unless you are consistently spending exactly $2,000 every month on a specific credit card.

Maybank Platinum Visa Card – Another credit card that offers a flat cash rebate for consistent spending, but with lower spending tiers than the UOB One Card. Get up to 3.33% cashback on all local spending if you spend $300 or $1,000 each month in a quarter. If you don’t mind a wee bit of responsibility and a reasonable minimum spending requirement, consider this card.

Conclusion? For uncomplicated unlimited cashback, the Standard Chartered Unlimited Cashback Credit Card and Amex True are extremely close, and the winner might just be whichever is offering a better sign-up promotion.

If you don’t have any Standard Chartered credit cards, it’s a no brainer. StanChart is offering $100 cashback for newcomers, and you don’t even have to do anything to earn it. You can sign up here:

Standard Chartered Unlimited Cashback Credit Card

Standard Chartered Unlimited Cashback Credit Card

Card Benefits

    • 3% cashback on all foreign currency spend (inclusive of the 1.5% cashback) for the 1st 3 months upon card approval
    • 1.5% cashback on all other eligible spend
    • No cashback cap and no minimum spend
    • Doubles up as your ez-link card with the EZ-Link facility enabled on it

    What is your favourite cashback credit card? Tell us in the comments!


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    Joanne Poh

    In my previous life, I was a property lawyer who spent most of my time struggling to get out of bed or stuck in peak hour traffic. These days, as a freelance commercial writer, I work in bed, on the beach, in parks and at cafes, all while being really frugal. I like helping other people save money so they can stop living lives they don't like.