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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:

CategoryCashbackMerchants
Shopping30% cashback capped at RM15 for the first 4,000 eligible clients per monthLazada, Shopee, Zalora
E-Wallet30% cashback capped at RM15 for the first 4,000 eligible clients per monthBoost, GrabPay, Touch ‘N Go eWallet
Travel30% cashback capped at RM50 for the first 500 eligible clients per monthAgoda, Klook, RoamingMan
This promotion will be available from November 1, 2020 to April 30, 2021.
Image Credit: Standard Chartered Bank

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.

DayMerchantWhereHow
MondayShopeeShopee AppRM20 off with minimum RM150 spend, using promo code: SCBMON
TuesdayLazadaLazada AppRM20 off with minimum RM150 spend, using promo code: SCBTUE20
WednesdayZaloraZalora AppRM30 off with minimum RM150 spend, using promo code: SCBDEALS
ThursdayWatsonswatsons.com.myRM30 off with minimum RM150 spend
FridayTaobaoTaobao AppRM20 off with minimum RM150 spend
Image Credit: Standard Chartered Bank

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)TenureNormal Credit Card Interest (18% p.a)*0% Cheque-On-Call Plus
5,00012 Months7430
10,00012 Months1,4850
15,00012 Months2,2280
*The calculation for 18% credit card interest is based on a repayment rate of the minimum amount of 5% every month for 12 months. 

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?

Under the CarbonNeutral ® programme, the card manufacturer calculates the carbon footprint incurred (in terms of kgCO2eq) for producing this card, from extraction and processing of raw materials, product manufacturing and distribution, to end of life disposal.

By offsetting the emissions through the CarbonNeutral ® programme, we are providing carbon finance to support the development of renewable energy projects such as solar electricity and wind farms, conserving threatened forests and supporting projects which improve household health and well-being in developing economies.

Standard Chartered Bank Representative

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

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