Overview of Standard Chartered Credit Card
Standard Chartered Bank is not just one of the oldest banks is Malaysia, it is also among the largest and has a strong presence internationally. They specialize in providing innovative banking solutions and cater to consumer banking, investment banking and Islamic banking among other services. The credit cards offered by Standard Chartered offer cardholders’ benefits such as lifestyle benefits with shopping and dining discounts, personalized concierge services, access to airport lounges cashback on petrol purchases and many more.
The types of credit cards offered by Standard Chartered and their features are listed below:
Why Choose Standard Chartered Credit Cards?
Standard Chartered has an excellent presence across the globe and ensures that their credit cards are accepted globally. The cards make travelling an enriching experience by providing discounted flights, concierge services, hotel and dining discounts and air miles that can be redeemed with select airlines. The card also helps the cardholders’ minimize their expenses by rewarding them with cashback. The cards are also equipped with a 20 day interest free period, a balance transfer plan and an instalment payment plan.
Features and Benefits of Standard Chartered Credit Cards
- The interest rate is 15% p.a. for the Standard Chartered Platinum MasterCard, Standard Chartered Business Visa Platinum and Standard Chartered Cashback Gold MasterCard credit cards.
- The interest rate is 18% p.a. for the Standard Chartered Worldmiles MasterCard, Standard Chartered JustOne Platinum MasterCard and Standard Chartered JustOne Gold MasterCard credit cards.
- The cash withdrawal limit for a day is RM 5000. The withdrawals attract a fee of 5.3% of the withdrawn amount and an interest rate of 19.08%
- The minimum monthly payment is 5% of the outstanding amount. If this bill is not paid on time, it attracts a late payment penalty of 1% of the outstanding amount.
Standard Chartered Credit Cards Eligibility
- The minimum age of the cardholder for the primary card should be 21 years of age.
- The maximum age of the cardholder for the primary card should be 65 years of age.
- The minimum age of the cardholder for the supplementary card should be 18 years of age.
- Anybody can apply for these cards as long as they meet the age and income requirements.
- The minimum income required annually to avail the Standard Chartered Platinum MasterCard, Standard Chartered Business Visa Platinum and Standard Chartered JustOne Platinum MasterCard is RM 60,000.
- The minimum income required annually to avail the Standard Chartered JustOne Gold MasterCard and Standard Chartered Cashback Gold MasterCard is RM 24,000.
- The minimum income required annually to avail the Standard Chartered Worldmiles MasterCard is RM 100,000.
Standard Chartered Credit Card Documentation
The Standard Chartered credit cards offer a wide range of benefits that allow cardholders to extract maximum value from their expenses. Aspiring cardholders need to download the application form either from the website or obtain a copy of the form from their nearest branch and submit them along with the required documents. The documents required for processing a credit card application vary depending on certain criteria. They are as follows:
If the candidate is a holder of a locally issued credit or charge card then they need only provide a photocopy of both sides of their Identity Card. If they would like to avail supplementary cards, then they need to submit the photocopy of the Identity Card of the supplementary cardholders as well.
If the candidate is applying for their first card then if the applicant is a salaried employee of an MNC, a public listed company or a government agency, the required documents are
- A photocopy of both sides of the Identity card
- The latest pay slips for past 2 months
- Proof of employment such as a job confirmation letter
- The past 3 months of bank statements or the latest EPF statement
If the candidate is a self-employed person then the required documents are
- A photocopy of the IC
- Past 6 months of bank statements
- A copy of the business registration certificate
- Forms 9, 24 and 39 in case the candidate owns a private limited company
If the candidate is a foreign national, the documents required are
- A copy of the passport
- Latest pay slips dating back at least 2 months
- A copy of the Job confirmation letter
- A copy of the work permit that has been valid for at least 6 months at the time of application
Standard Chartered Credit Card Balance Transfer
The hassle free balance transfer plan from Standard Chartered allows users to manage their credit card debt effectively by transferring it onto the Standard Chartered Credit cards at a low interest rate of 5.99% p.a. for a tenure of 36 months. The minimum amount that can be transferred using this plan is RM 1000 and the tenure options are between 12, 18, 24 and 36 months. This plan is easy to apply for and requires no submission of any supporting documents and allows cardholders to consolidate any credit card debts they may have incurred.
|Read More on Standard Chartered Balance Transfer|
Standard Chartered Credit Card Application Status
The application for a Standard Chartered Credit Card in itself is a simple process wherein one needs to download the forms, fill them u and submit them online with the necessary documents online or in person at the nearest branch. Now, aspiring cardholders need not have to wait apprehensively as to the status of their application. Applicants can simply log on to the website and track the status of their online application by entering in their application reference number and the registered mobile number.
Standard Chartered Credit Card Rewards
The Standard Chartered credit card offer a wide variety of benefits ranging from reward points to cash back. The reward points earned depend on the type of card but accrued reward points that have not expired and are valid can be redeemed for exciting gifts such as electronic goods and home appliances or can be used to avail discounts on hotel bookings or air fares. The list of items that can be redeemed for points can be found on the Standard Chartered website. This catalogue lists out the rewards that can be claimed categorically with inbuilt wish lists allowing cardholders greater control over their accumulated points.
Standard Chartered Credit Card FlexiPay
The flexi pay option from Standard Chartered allows cardholders to convert any retail transactions into easy to pay monthly instalments for a period of 12 months with interest rates starting as low as 7.88% p.a. The process of availing the flexi pay service is a hassle free process. The transaction amount that can be converted into a flexi pay option is a minimum of RM 500 on a single receipt. Cardholders are required to avail the service through online banking. Cardholders can login and choose the particular transaction they would like to convert into flexi pay instalments. The interest rate of 7.88% p.a. is applicable only when applied for online.
Frequently Asked Questions - Standard Chartered Credit Cards
Q) What is the maximum credit limit offered by Standard Chartered Business Visa Platinum Credit Card?
A)Standard Chartered Business Visa Platinum grants a maximum credit limit of up to RM 300,000.
Q) What are the services provided by the concierge service?
A) The concierge service includes assistance to rent a car, make reservations at restaurants and in making hotel reservations.
Q) Can Standard Chartered credit cards be used to withdraw cash at ATMs?
A) Yes. The cash withdrawal is limited to a maximum of RM 5000 and the fee for this withdrawal is 5.3% of the withdrawn amount. The interest charged on cash withdrawals is 19.08%.
Q) How can one protect themselves against transactions that are fraudulent?
A) Standard Chartered has an automatic SMS system that temporary blocks the account and alerts the user when it suspects fraudulent activity. The user can verify his identity and the account will be reactivated immediately.
Q) What is the penalty for late payment of bills?
A) The late payment penalty is 1% of the outstanding amount.
Q) What are the dining discounts available from Standard Chartered credit cards?
A) Standard Chartered has a good life program in which participating merchants offer discounts that the cardholder can make use of.
Click here for all Standard Chartered Credit Card Promotions
Other Products offered by Standard Chartered:
Apart from offering Credit Card, Standard Chartered offers other products and services which include:
- Cash vs Cards Payments Malaysia
- How to Find the Perfect Credit Card in Malaysia
- How to Improve your Credit Rating in Malaysia
- How to Increase Credit Limit in Your Credit Card
- How to Pick an Emergency Credit Card
- Student Credit Cards in Malaysia
- Supplementary Credit Cards in Malaysia
- When to Use Credit over Cash
- Shed the Excess Interest Rates
- Protecting One’s Credit Card While Travelling
- Defaulting Your Credit Card Bills in Malaysia?
- Top 5 Reasons Why Owning a Credit Card is Good for You
- How to improve your chances of having a credit card approved
- Credit Card fraud: Are you aware of it?
- Understand Credit Card interest free period
- Reward Credit cards Malaysia
- Best Cash Back Credit Cards in Malaysia
- Best Zero Annual Fee Credit Cards in Malaysia
- Personal Loan Against Credit Card
- How to Maximise Your Credit Card Benefits
- Popular Credit Card Fees and Charges in Malaysia
- How to Apply for Credit Cards in Malaysia for Foreigners
- Top 10 Credit Cards in Malaysia 2016
- Best Low Interest Rate Credit Cards in Malaysia
- What charges do you pay for when you swipe your card overseas
- Best Petrol Credit Cards In Malaysia
- Credit Cards for Employees in Malaysia
- Common Mistakes to Avoid While Applying for a Credit Card
News About Standard Chartered Credit Card
Standard Chartered cardholders in Malaysia to get 20% cashback on global Uber rides
Standard Chartered cardholders in Malaysia will receive 20% cashback on global Uber rides. The cashback will be capped at RM60 and minimum of RM750 in retail spends per calendar month. The first time Uber users will get RM10 off on every ride for the first 3 rides. The collaboration is offered to cardholders in India, UAE, Malaysia, Singapore, Vietnam, and Indonesia. This is one of the many cross-border benefits that is made available to the Standard Chartered cardholders to cater to their global lifestyles.
25th October 2016
Video banking launched by Standard Chartered
Standard Chartered is launching video banking in Bangladesh, China, India, Hong Kong, Kenya and UAE by the end of 2016. Video banking is already live in Malaysia and Singapore. The clients can speak with the consultants over a secure video connection to carry out services that are done within a branch. Priority clients can use video banking to consult with investment advisors to explore new management opportunities. The clients can also connect with consultants through web chat and audio links available on the bank’s website. Standard Chartered has launched bank on iPad and will also be rolling out a new mobile and online banking platform.
27th July 2016
Video banking launched by Standard Chartered
Video banking launched by Standard Chartered allows interaction between clients and banking consultants via chat, audio and video to priority and personal banking clients. Singapore and Malaysia markets were the first markets to go live with the video banking consultants. The clients will be able to access the service from Monday to Friday between 8:30am to 5:30pm.
Video banking allows clients to access secure live, on-the-spot services through web chat, audio and video. Screens can be shared with clients by the banking consultants. Priority clients can also have face-to-face discussion with investment advisers. This service will be rolled out to UAE, Kenya, India, Taiwan, Hong Kong, China and Bangladesh by the end of 2016.
22nd July 2016
Standard Chartered Making a Whoping Investment of RM 100 million in Malaysia
Standard Chartered Bank is planning to invest approximately RM 123.3 million which is US$ 30 million in the Malaysian market. Standard Chartered made a statement to renowned news agency in Malaysia and stated that this investment is going to made in global technology as well as wholly owned subsidiary operation known as Scope International.
This investment is being made as a tech power in finance along with private banking, retail along with wealth management. According to StanChart brand Scope International CEO, Matthew Norris mentioned that the global shared service in this country is going to provide technology services and also support 54 other nations globally. According to Norris, the new investment is going to be twice as much as it was last year. Standard Chartered Malaysia currently operates with close to 7,000 employees in operations.
14th July 2016
Enjoy 20% discount at Fraser Residence Kuala Lumpur with Standard Chartered cards
Standard Chartered card owners get to enjoy a 20% discount at Fraser Residence Kuala Lumpur. This is an offer like never before since hardly does this hotel offer such high discounts to customers. The offer is valid from August 2015 to July 2016. Payment needs to be made via a standard chartered card in order to be eligible for this offer.
The offer is not available to customers during the festive times or during public holidays.
Standard Chartered is one of the most popular international banks across the globe. The bank has a substantial presence and huge customer base in Malaysia. Standard Chartered offers a host of personal banking products and services to customers in Malaysia.
30th November 2015