Standard Chartered Smart Credit Card (Review): Attractive Perks, but Only for Certain Types of Customers

Alevin Chan
Last updated Dec 21, 2021
Standard Chartered Smart Credit Card (Review): Attractive Perks, but Only for Certain Types of Customers

The Standard Chartered Smart Credit Card offers an attractive 6% cashback, but the rather limited range of qualifying transactions mean only specific consumer profiles will find the greatest value.

At first glance, the Standard Chartered Smart Credit Card seems to be a bit of a head scratcher. Its headlining feature is a quite-attractive 6% cashback rate, with no minimum spends required. 

It gets better. There are no annual fees for this credit card whatsoever, and you can also split your payment into three interest-free instalments, 

But, closer inspection reveals that the cashback is awarded as reward points, and is applicable only on some rather narrowly defined transactions, such as fast food and public transit.  

So, what exactly is this newly launched card all about? Who is this credit card designed for? And how can you make the best use of it?

Let’s find out!

What can the Standard Chartered Smart Credit Card do for you?

Standard Chartered Smart Credit Card product summary:

  • 6% cashback on fast food, coffee and toast, digital subscriptions and bus & MRT rides
  • No minimum spend required to earn cashback
  • Cashback awarded as rewards points
  • Interest-free three-month instalment plans with 100% rebate of service fee
  • Zero annual fees and cash advance fees
  • Complimentary travel insurance with up to S$500,000 coverage
  • Income requirement:  S$30,000 (Singaporeans/PR), S$60,000 (Foreigners)
  • Minimum age: 21
 ProsCons
No minimum monthly spend to earn cashbackBonus reward points capped at 14,400 per month 
Complimentary S$500,000 travel insurance Complimentary travel insurance only covers cardholder 
No annual fees, no cash advance feesPoor credit assessment may increase interest rate
Three-month interest-free instalment plan, with rebate of service fees

Why should you get the Standard Chartered Smart Credit Card?

#1: Save more with cashback on everyday spends and annual fee waiver

Credit cards are designed to help you save money in one way or another, and the Standard Chartered Smart Credit Card is no different. 

However, this card takes it one step further by helping you save money in two ways – by giving you cashback with no minimum spend, and doing away with the customary annual fee.

As a result, you’ll earn cashback equivalent to a true 6%, awarded as reward points, with every dollar you spend on fast food, coffee and toast, digital streaming services, and bus and MRT rides. And because there is no annual fee to pay, every cent of this extra value you earned is yours to use.

Hence, if you are a regular consumer of McDonalds, eat breakfast thrice a week at Ya Kun, have an active Netflix, Spotify or Disney+ subscription, and take the bus and/or MRT every day, switching to the Standard Chartered Smart Credit Card could help you unlock more savings than ever before.

#2: Greater financial flexibility with interest-free instalment plans

One notable feature of the Standard Chartered Smart Credit Card is the bundled interest-free instalment plan feature, which allows you to split up a large purchase into three payments. 

This is a handy little option that allows you to meet urgent financial needs (say, the washing machine broke down and you don’t quite have the savings to replace it), without having to go through the trouble of applying for a loan or a balance transfer. 

Perhaps best of all, instalment plans are interest-free, so you won’t have to worry about paying extra. On top of that, the service fee for processing your installment plan – which is pegged at 1% of the purchase amount – will be fully refunded to you in the form of cashback.

#3: Complimentary travel insurance for principal cardholder

The Standard Chartered Smart Credit Card comes with complimentary travel insurance, offering you up to S$500,000 in worldwide personal accident coverage. You’ll also be covered for up to S$25,000 for emergency medical assistance, evacuation and repatriation.

While not the most robust of travel insurance plans, this included policy nevertheless offers a rudimentary degree of coverage for any overseas trip you take, which is always better than going completely without any insurance at all.  

For whom is the Standard Chartered Smart Credit Card best suited?

Those whose spending habits include quite a bit of fast food, local coffee and toast shops, online streaming services and public transit will find some real value to be unlocked here, given how there’s no minimum monthly spend to earn cashback, and no annual fees to pay. 

This card is also a good option if you’re looking for a credit card that provides some extra leeway via short-tenure, interest-free instalment plans, handy for coping with the occasional surge in spending.

Fees and charges

Here are some fees and charges you could incur while using the Standard Chartered Smart Credit Card. Be sure to refer to the full list of bank fees as well. 

  • Annual fee: Waived perpetually
  • Late payment charge: S$100
  • Minimum monthly payment: 1% of current balance or S$50, whichever is higher, plus any overdue amounts
  • Overlimit fee: S$40
  • Interest on purchases: 26.9% p.a. 

Eligibility criteria

  • At least 21 years old
  • Singaporeans or PRs: Annual income of at least S$30,000
  • Foreigners: 
    • Annual income of at least S$60,000 
    • Holder of P1, P2 or Q type employment passes
    • Q pass holders must have at least 12 months’ validity on their passes

Signup Promotion


Snag an ErgoTune Classic (worth S$399) or S$300 cash when you sign up for a new Standard Chartered Smart Credit Card and make a min. spend of S$350 within 30 days of card approval. Valid till 14 February 2022. T&Cs apply.

How to apply? 

Click on the ‘Apply Now’ button on this page and complete the SingSaver application form. You might need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest Income Tax Notice of Assessment and latest original computerised payslip

Read these next:
Standard Chartered Spree Card – SingSaver Review (2021)
Standard Chartered Unlimited Card Review: Fuss-Free Cashback Card
Best Cashback Credit Cards In Singapore
Top Credit Card Promotions And Deals On SingSaver (2021)
Standard Chartered Credit Card Promotions and Deals: December 2021


By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


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