Understanding The New Credit Card By Standard Chartered And Why You’d Even Want One

[This is a paid article by Standard Chartered Bank.]

When you think about the millennial lifestyle, your mind probably goes to all things digital.

Our favourite radio station? Try Spotify. Favourite TV channel? More like Netflix. Our favourite way of shopping for things? Lazada or Shopee. How do we like to pay nowadays? E-wallets.

Of course, the majority of these services require you to pay some amount of money to access them. Along the way, someone came along and invented the smart concept of cashback. 

Since then, it’s been a common way for financial service providers to reward their customers, but not many are as in tune with the millennial digital lifestyle of today.

With millennial priorities in mind, Standard Chartered is releasing its new Standard Chartered Smart Credit Card, targeted towards working professionals earning an annual income of RM36,000.

If you fall into this category, here’s why you should want it.

1. 30% Cashback On E-Commerce Spending

Now that we’re not so keen on going out to jalan-jalan, a lot of us are probably spending our free time browsing e-commerce sites, fingers itching to make purchases.

It’s tough to hold back, but using the Standard Chartered Smart Credit Card will earn you 30% cashback when spending on merchants in different categories.

Do note that your cashback would be capped at RM80/month for the first 6 months after onboarding, however.

Here’s an example breakdown of how the cashback would work:

Category	Cashback	Merchants
Shopping	30% cashback capped at RM15 for the first 4,000 eligible clients per month	Lazada, Shopee, Zalora
E-Wallet	30% cashback capped at RM15 for the first 4,000 eligible clients per month	Boost, GrabPay, Touch ‘N Go eWallet
Travel	30% cashback capped at RM50 for the first 500 eligible clients per month	Agoda, Klook, RoamingMan

2. 30% Cashback On In-Store Dining Deals & Food Deliveries

We have no choice but to spend on food, but getting rewarded to eat makes it a little less painful.

The Standard Chartered Smart Credit Card grants users 30% cashback for both in-store and delivery dining with T&Cs, but that’s not all.

Each participating merchant also offers varying discounts to sweeten the deal.

To get 30% cashback on in-store purchases, you simply have to spend RM100 minimum. (Hint, hint, it’s time to take your family out for a nice lunch or dinner, but with proper COVID-19 SOPs in place.) 

This applies to merchants like Dragon-i, An Viet, Aloft Kuala Lumpur Sentral, Bar.B.Q Plaza, and more.

If you just want to stay home and have some nice meals with your family, spending RM50 minimum through food delivery merchants like dahmakan, Domino’s Pizza, foodpanda, and more, will get you that 30% cashback.

This promotion will be available till December 31, 2020.

3. 6% Cashback On Digital Entertainment Spending

Most of us have some form of entertainment to kick back and relax, and if you tend to spend on games and shows, this deal would benefit you.

By spending a minimum of RM1,000 per month on retail purchases (local and international) using your Standard Chartered Smart Credit Card, you’d unlock a 6% cashback deal at selected merchants, capped at RM20 each month.

The merchants involved are:

• Netflix,
• Spotify,
• Astro,
• Steam,
• PlayStation,
• Joox,
• iQIYI.

4. RM20-RM30 Off In Daily Deals

From now until December 31, 2020, using your Standard Chartered Smart Credit Card would also get you daily deals from selected merchants.

Day	Merchant	Where	How
Monday	Shopee	Shopee App	RM20 off with minimum RM150 spend, using promo code: SCBMON
Tuesday	Lazada	Lazada App	RM20 off with minimum RM150 spend, using promo code: SCBTUE20
Wednesday	Zalora	Zalora App	RM30 off with minimum RM150 spend, using promo code: SCBDEALS
Thursday	Watsons	watsons.com.my	RM30 off with minimum RM150 spend
Friday	Taobao	Taobao App	RM20 off with minimum RM150 spend

5. Extra Cash With 0% Interest Rate

A major benefit of the Standard Chartered Smart Credit Card is that you can get up to RM15,000 extra cash with 0% interest rate plus RM100 cashback when you transact at least once with the card within 60 days of approval.

It’s a current promotion called the 0% Cheque-On-Call Plus.

Here’s how it compares to standard credit card interest rates:

Amount (RM)	Tenure	Normal Credit Card Interest (18% p.a)*	0% Cheque-On-Call Plus
5,000	12 Months	743	0
10,000	12 Months	1,485	0
15,000	12 Months	2,228	0

The promotion is valid until December 31, 2020, and you enjoy a repayment period of 12 months.

This offer is exclusively for new-to-bank credit card applications only (for those who do not have any prior banking relationship with Standard Chartered).

6. Saving Money & The Earth With CarbonNeutral Cards

The Standard Chartered Smart Credit Card is positioning itself as Malaysia’s first CarbonNeutral card.

What’s that, you ask?

7. You Get A Bonus Sign-Up Offer

When you sign up for the Standard Chartered Smart Credit Card, you get RM200 cashback after you activate the card and spend within 45 days from the approved date.

But that isn’t the only bonus you get when you sign up.

There’s a hidden surprise hidden in this link, and you’ll get the bonus of RM100 cashback when you manage to find it. (This is only available from November 1 to 15.) 

The hint is: Look for smarT. You can also follow their Facebook page for more clues.

• You can get more information on the Standard Chartered Smart Credit Card here.
• Note: Some T&Cs apply, so make sure you check those first.

Featured Image Credit: Anna Shvets on Pexels