Consumers' Guide to Credit Cards
Before submitting your credit card application, you should request that your bank gives you an overview of the terms and conditions governing the card that you are applying for.

Below, we’ve listed some of the questions that you should ask yourself and your bank before submitting your Standard Chartered credit card application. For a full review of our credit card terms and conditions, download our Card Members' Agreement.

For more information download the Code of Consumer Banking Practice.
1. Why am I applying for this card?
2. Can I pay for the purchases in full each month or do I intend to pay the minimum sum required and rollover my payment?
3. If I do rollover my payments, do I have the capacity to pay the accompanying charges?
4. Do I understand the terms and conditions for the use of the card? For example, do I know what the various fees, interest, finance charges and penalties that accompany the use of the credit card?
For a full review of our terms and conditions you can download our Card Members’ Agreement.

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5. What action can the bank take if I fail to settle my overdue payments?
Non payment of your monthly dues could result in your credit card account being blocked. This could also negatively impact your credit rating and may affect your access to future loans from any reputable lending institution.

Please note that Standard Chartered Bank will also take action to collect any unpaid dues, including legal action when necessary.

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6. When will the promotional free membership period, if any, expire? What is the fee I will have to pay after the expiry period?
Our marketing materials will always state the duration of any promotions that are being offered. If you have a question about a promotion, then please give us a call on 1800 789 7000 or enquire at a branch and we’ll be happy to help you.

For information on the fees that you will need to pay, then please contact us for information or download our Card Members’ Agreement.

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7. What are the annual membership fees?
Card Principal Supplementary
Platinum Card S$180 Free
Platinum Access Card S$180 Free
Platinum Business Card S$150 Free
NUS Alumni Platinum Card S$180 Free
Prudential Platinum Card S$180 Free
PruPrestige Visa Signature Card S$180 Free

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8. What is the minimum amount I have to pay each month?
Classic VISA/MasterCard
S$50 or 3% of new balance, whichever is greater, plus any overdue amounts.

Gold VISA/MasterCard
S$50 or 3% of new balance, whichever is greater, plus any overdue amounts.

Platinum VISA/MasterCard
S$50 or 3% of new balance, whichever is greater, plus any overdue amounts.

Platinum Access with no Automatic Flexible Payment Scheme
S$50 or 3% of new balance, whichever is greater, plus any overdue amounts. Accounts that are over limit: 3% of new balance plus the excess over the credit limit, plus any overdue amounts

Platinum Access with Automatic Flexible Payment Scheme(s): aggregate of all monthly installment(s), plus any overdue amounts.

Accounts that are over the limit: full monthly installment for the total of all approved Card Transaction under the Automatic Flexible Payment Scheme plus any overdue amounts.

Funds Transfer Account: full monthly installment of the approved Funds Transfer, plus any overdue amounts.

Accounts that are over the limit: full monthly installment for the total of all approved purchases or full monthly installment for the total of approved Funds Transfer plus the excess over the credit limit, plus any overdue amounts.

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9. Is there a repayment grace period?
Yes. It is 22 days from the billing/statement date.

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10. How much interest do I have to pay on the outstanding amount?
Our effective interest rate is 24% per annum (minimum). If your outstanding balance is not settled in full each month by the due date then finance charges will be calculated on a daily basis at 0.067% on the outstanding balance from the Statement date, and on all new transactions from the respective transaction date.

This does not apply to purchases made using your Standard Chartered Platinum Access Card under the Automatic Flexible Payment Scheme. For details see below.

Finance charges will not apply if payment is received in full by the due date and there is no balance carried forward from the previous statement. For finance charges on cash advance transactions, please see below.

What are the finance charges for purchases made using the Platinum Access Card?
Our effective interest rate for purchases under the Automatic Flexible Payment Scheme is 9.32% per annum. If payment is not made in full by the due date and there is balance carried forward from the previous statement, then finance charges at 24%p.a (effective interest rate) will apply on the balance carried forward. Finance charges will be calculated on a daily basis at 0.067% on the outstanding balance from the Statement date.

An administrative fee of 6% will be levied on all approved Card Transactions under the Automatic Flexible Payment Scheme.

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11. If I do not make the minimum payment for one month, what are all the interest and other charges that I will have to pay?
New Balance Amount Late Payment Charge
Up to S$1,000 S$35
S$1,000.01 -$3,000 S$45
S$3,000.01 and above S$60
For interest charges, please see "Question 9: How much interest do I have to pay on the outstanding amount?"

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12. What are the charges I will incur if my payment, either by cheque or GIRO, is returned for whatever reasons?
The following service fees will be applied:
Returned cheque (insufficient funds) S$50
Rejected direct debit (insufficient funds) S$50
Post-dated cheque payment S$25
Credit refund via cashier’s order S$10
Branch counter payment S$5

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13. If I take a cash advance from my credit card line, what are the charges that I will have to pay?
There is a 5% charge on any cash advance you make, subject to a minimum fee of S$15.

In addition to this there is a finance charge of 0.067% per day on the amount withdrawn from the date of the transaction until the date of full payment. Therefore the effective interest rate is 24% per annum (minimum).

In the case of a funds transfer computation: interest would immediately accrue when the Bank makes payment of the Funds Transfer to the other account of the card member.

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14. If I lose my credit card, what must I do?
If your card is lost or stolen or if the PIN is disclosed to a third person, then please notify us immediately either by calling us on
1800 789 7000 (then pressing 2) or providing written confirmation to the following address:

Standard Chartered Bank,
Tampines Central Post Office.
P.O. Box 165,
Singapore 915208

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15. What is my credit limit?
Your credit limit will be determined when you apply for your card.

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16. If there are any changes in the terms and conditions for the use of the card, will I be informed of these changes? If so, when will I be informed of these changes?
If and when we make changes to our terms and conditions we will notify you in writing (or any other appropriate method) before the changes come into effect. You should review the changes thoroughly as they will be become binding on the date given in the notification.

If you decide that you do not accept the new changes, then you should make arrangements to terminate your credit card account with us. Please review section 12 of our Card Members’ Agreement for instructions on how to cancel your account.

Please also note that if you retain or use your card, card account or PIN after we have notified you of the changes to our terms and conditions, we will assume that you have accepted and agreed to the changes.

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