Standard Chartered Unlimited Cashback Card: Should You Get It?

Unlimited amount of cash rebate at 1.5% for every dollar you spend without any spending requirement.

Editor's Rating

4.5

Good for

  • People who want an easy cashback card to use without minimum spending requirements or maximum rebate cap
  • People who spend significantly more than S$2,000 a month given its unlimited cash rebate
  • Doubles up as EZ-Link Card

Bad for

  • Average consumers who spend much less than S$4,000-$5,000 per month
  • People who have particular spending categories that consistently dominate their monthly budgets
  • People who like to travel abroad frequently

Standard Chartered Unlimited Cashback Card: Should You Get It?

Unlimited amount of cash rebate at 1.5% for every dollar you spend without any spending requirement.

Good for

  • People who want an easy cashback card to use without minimum spending requirements or maximum rebate cap
  • People who spend significantly more than S$2,000 a month given its unlimited cash rebate
  • Doubles up as EZ-Link Card

Bad for

  • Average consumers who spend much less than S$4,000-$5,000 per month
  • People who have particular spending categories that consistently dominate their monthly budgets
  • People who like to travel abroad frequently

Editor's Rating

4.5

Standard Chartered Unlimited Cashback Card: Should You Get It?

Editor's Rating

4.5

Good for

  • People who want an easy cashback card to use without minimum spending requirements or maximum rebate cap
  • People who spend significantly more than S$2,000 a month given its unlimited cash rebate
  • Doubles up as EZ-Link Card

Bad for

  • Average consumers who spend much less than S$4,000-$5,000 per month
  • People who have particular spending categories that consistently dominate their monthly budgets
  • People who like to travel abroad frequently

Standard Chartered Unlimited Cashback Credit Card is Standard Chartered's newest addition to its card arsenal in Singapore. It is a highly rewarding cashback credit card given its unlimited cash rebate of 1.5% for every S$1 you spend. It also comes with a petrol discount of up to 24% at Caltex, as well as an ability to be doubled up as an EZ-Link card. Given that its annual fee of S$192.6 is waived for two years, this is a highly rewarding cashback card that won't break the bank. We hope that our detailed review below will help you decide if the Standard Chartered Unlimited Cashback Card is the best card for your spending habits.

ProsCons
  • 1.5% cashback on everything, No cap on cashback & No monthly spend requirement
  • Unlimited 1.5% cashback on everything requires +S$6,000 of monthly spend to truly maximise value
  • 2 Year Waiver for its S$192.6 annual fee
  • Doubles up as an EZ-Link Card
  • Promotion: Up to S$138 in cashback for new customers + 3% cashback on all foreign currency spend (until 31 Oct 2017)

What makes Standard Chartered Unlimited Cashback Card Stand Out: Unlimited 1.5% Cash Back + EZ-Link

Standard Chartered Unlimited Cashback is very straight forward card to understand. It's a very easy card to use and maintain because it has no minimum spending requirements or cap on maximum cash back. Not only that, it provides 1.5% cash rebate on all your expenditures. With this card, you don't have to worry about managing multiple credit card with different set of rewards categories; you can simply keep using Standard Chartered Unlimited card for every dollar you spend, and cash rebate will flow through to your monthly billing statement. Standard Chartered is also providing a 3% cash back on your overseas expenditure, so this card could nicely double up as a travel credit card for some people as well.

We think this card is particularly attractive to high-spenders who spend significantly more than S$2,000 a month. While most credit cards in Singapore are designed to cater to an average customer & hence limit the total amount of cash rebate a card holder can earn, SC Unlimited Cashback Card's rewards increase proportionally with the card holder's spending level. This aspect of the card makes it one of the best cashback credit cards for high spenders. Not only that, this card's annual fee of S$192.6 is also waived for 2 years, meaning you can enjoy unlimited amount cash rebate without paying a dollar in fees for 2 years as long as you pay down your balance on time.

As with every card, Standard Chartered Unlimited Cashback Card is not perfect for everyone. First, given that its maximum cash rebate for categories outside of petrol is 1.5%, consumers who have particularly big spending categories (i.e. dining, groceries, shopping, travel, etc.) could benefit more from other cards that have 5-8% cash rebate for those specific areas of expenditures. Also, for people who may not care too much about getting an EZ-Link card, there are other flat-rate cash back cards that might be a better deal.

Standard Chartered Unlimited Cashback Card Benefits & Features

SC Unlimited Cashback Card Benefits & FeaturesDetails
Annual Fee
  • S$192.6, Waived for 2 Years
Annual Income Requirement
  • S$30,000 for locals, S$60,000 for foreigners
APR
  • 25.9%
Card Details
  • 1.5% unlimited cash back on all your expenditure
  • No minimum spend requirement
  • Up to 24% discount on petrol at Caltex
  • EZ-Link compatible
  • Promotion: 3% cashback on all foreign currency spend (until 31 Oct 2017), inclusive of the 1.5% cash rebate
  • Promotion: Up to S$138 in cashback for new customers
  • Bonus: 20% discount on Uber fares globally (max S$50 per month, 10% if spending under S$600 per month)

How does Standard Chartered Unlimited Cashback Card Compare Against Other Credit Cards?

To help you decide if the Standard Chartered Unlimited Cashback Card is the right card for your lifestyle, we've taken the time to compare it to the leading cashback credit cards in Singapore. Take a look below to see how these cards square up against one another, and see which one best fits your unique set of preferences.

A graph displaying how Standard Chartered Unlimited Cashback compares to other credit cards in Singapore in terms of their rewards
Standard Chartered Unlimited Cashback vs Other Cards by Dollar Value

Standard Chartered Unlimited Cashback vs Citi SMRT Card

We think Citi SMRT Card makes more sense than Standard Chartered Unlimited Cashback Card for people who spend more heavily on groceries and daily commutes than others. It provides 7% cash back on your grocery expenditures at Citi's partnering retailers like FairPrice, Giant and Sheng Siong. It also provides a 2% cash back on EZ-Link, slightly higher than SC Unlimited Cashback card's 1.5%. Therefore, Citi SMRT Card could potentially help you save more if your expenditure is more heavily skewed towards these areas compared to other things like shopping, dinning or traveling. Citi SMRT Card is also cheaper to use, as its S$160.5 of annual fee is also waived for 2 years.

Standard Chartered Unlimited Cashback vs Standard Chartered Manhattan World MasterCard

Standard Chartered Manhattan World MasterCard is another flat-rate cashback card from Standard Chartered. It is lightly different from SC Unlimited Cashback card in that Manhattan World card offers 3% flat rebate for people who spend at least S$3,000 per month, 1% for people who spend between S$1,000 and S$2,999 and 0.5% for people who spend less than S$1,000. While its 3% cashback may sound better than Standard Chartered Unlimited Cashback card's 1.5%, Standard Chartered Manhattan World card has a major shortcoming, in our opinion: Manhattan World card's cashback is capped at S$200 per quarter.

This poses a problem because earning 3% on S$3,000 per month should be yielding S$270 of cashback per quarter. Since the rebate is capped at S$200, it means you will be actually receiving 2.22% (S$200/S$9,000) instead of 3%. Therefore, we think SC unlimited Cashback card is the better option than Manhattan World card for most consumers since SC Unlimited Cashback provides an opportunity to earn an unlimited amount of cash rebate at 1.5%.

chart showing that standard chartered unlimited cashback card yields a better cashback rate than standard chartered world manhattan card for most consumers
Cashback Rate: SC Unlimited Cashback vs SC Manhattan World

Standard Chartered Unlimited Cashback vs UOB One Card

We think UOB One Card makes more sense for people who care about almost exclusively about cash rebate and doesn't mind paying a high annual fee. While its annual fee of S$192.6 is waived for only 1 year, UOB One Card provides S$200 quarterly cash back for people who spend S$2,000 a month (i.e. up to 5%), a better yield than than most other flat-rate cards. The only two cases where SC Unlimited Cashback card wins against UOB One card in terms of rebate is people who spend less than S$500 on the card or more than S$7,000 on the card. However, UOB One Card cannot be used as an EZ-Link Card, so if you want to avoid paying high annual fees and care about a card that can be used as an EZ-Link card, SC Unlimited Cashback card could be the better option.

chart showing how standard chartered unlimited cashback card and UOB one card compare in terms of cash back rate for different levels of monthly spending
Cashback Rate: SC Unlimited Cashback vs UOB One

Standard Chartered Unlimited Cashback vs Amex True Cashback Card

American Express True Cashback Card is actually almost identical to Standard Chartered Unlimited Cashback Card: they both come with a 1.5% cash rebate with no cap on maximum one can earn. The only difference is that SC Unlimited Card doubles up as an EZ-Link card and comes with a petrol discount of up to 24%. Although Amex is well known for its special deals for luxurious perks at restaurants, hotels and other establishments, we think Standard Chartered is definitely the better deal among the two. Inf act, SC Unlimited Cashback card even comes with a 2 year annual fee waiver (S$192.6 per year) vs Amex True Cashback's 1 year fee waiver (S$171.2).

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