Standard Chartered Prudential Platinum Credit Card Review

Standard Chartered Prudential Platinum Credit Card
Standard Chartered Prudential Platinum Credit Card
  • Offset rewards points against insurance premiums
  • Earn 1 Rewards point for every S$1 charged to your card
  • Discounts and benefits with over 3,000 merchants worldwide
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The Standard Chartered Prudential Platinum Credit Card offers a complete credit card package, including a comprehensive rewards program.

You can reduce the cost of your monthly insurance premiums at Prudential when you apply for and spend using the Standard Chartered Prudential Platinum Credit Card. Convert your reward points for a premium discount or redeem your 360° Rewards points for a range of merchandise or with a partner such as KrisFlyer.

Product NameStandard Chartered Prudential Platinum Credit Card
RewardEarn 1 Rewards point for every S$1 charged to your card
Effective Interest Rate26.9%
Interest Free PeriodApplicable if you choose to make full payment
Maximum Credit LimitUp to S$250,000
Minimum Monthly RepaymentThe higher of S$50 or 1%.
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Annual FeeS$0 annual fee for 2 years - S$192.60 thereafter
Supplementary Annual FeeS$0
Late Payment FeeS$80
Cash Advance Charge6% on the Cash Advance, subject to a minimum fee of S$15 plus Finance Charges at 0.077% per day
Foreign Currency Transaction Fee3.5%
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Min Income - Singaporean and PRS$30,000
Min Income - ForeignerS$60,000
Min Age - Primary Holder21
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Review

Issued in partnership with Prudential SG, this card allows you to exchange your 360° Rewards points for a discount on your Prudential insurance premiums. At 3,000 points for a S$12 discount, it can be an attractive redemption compared to other choices on the 360° rewards program, and you retain all other 360° redemption options.

The card has an annual fee of S$192.60 but, in addition to 1 reward point for each dollar you spend, you also qualify for special privileges and benefits, including a concierge service and discounts at restaurants and hotels. New cardholders will receive up to S$80 cashback.

Benefits of the Standard Chartered Prudential Platinum Credit Card

  • Earn rewards as you spend. Your card is automatically enrolled in the Standard Chartered 360° Rewards program, which gives you 1 point for almost every dollar in credit card spend. You can redeem your points for merchandise, tickets and with partners such as KrisFlyer.
  • Offset points against insurance premiums. You can exchange your 360° points for a discount on your Prudential insurance premiums at a rate of 3,000 points for a S$12 discount.
  • Sign-up offer. S$80 cashback to new cardholders. S$20 cashback to existing cardholders. T&Cs apply. Ends 30 Sep 2019.
  • 24/7 concierge. This Visa Platinum card entitles you to access Visa’s concierge service, which will give you 24-hour help with anything from travel arrangements to shopping and gift services.
  • Instalment plan. You can get a 0% instalment plan for up to 36 months when you buy at participating merchants. Just ask for the Standard Chartered instalment plan – there is no sign-up fee either.
  • The Good Life. Get access to special discounts and privileges at over 3,000 locations in the world thanks to your Standard Chartered Prudential Platinum Card.
  • Caltex 2019 Promotion. Up to 19.78% petrol savings at Caltex stations. T&Cs apply. Valid till 31 Dec 2019.

Features of the Standard Chartered Prudential Platinum Credit Card

The key feature of this card is the ability to reduce your Prudential insurance premiums. Also, keep the following features in mind when you consider the Standard Chartered Prudential Platinum Credit Card.

  • Annual fee. This card charges an annual fee of S$192.60 and waivable in the first 2 years.
  • Supplementary card holders. Give a card to family members and pool your rewards earning ability. Every time a supplementary card holder spends, you accrue rewards.
  • Rewards validity. The reward points you collect with this card are valid for three years.
  • Contactless payments. Pay conveniently for transactions of up to S$100 by tapping your card on the card reader, or enrol your card with Google Pay, Apple Pay or Samsung Pay to easily pay with your mobile phone.
  • Protection against fraud. Thanks to the CardSafe Guarantee, you can rest assured that you’re protected against fraudulent transactions made online with your credit card.
  • EasyPay repayment plan. In exchange for a one-time set-up fee of 5%, you can convert a qualifying transaction of over S$500 to an instalment plan over 6 to 12 months at 0% interest.

Application criteria

The Standard Chartered Prudential Platinum Credit Card could be a particularly good choice if you have an insurance policy with Prudential, but consider other credit card products too. To apply for this card, click on the green “Go to Site” button to go to the online application process.

To apply for this card, you will need to meet the following criteria:

  • Be between the ages of 21 and 65
  • Be a resident of Singapore
  • Foreigners require a work permit that is valid for two years
  • Must have a minimum income of S$30,000 p.a.
  • Foreigners must have a minimum income of S$60,000 p.a.
  • Have a credit file in good standing

You will need to provide the following information and documents

  • Singapore NRIC or your passport
  • Proof of income and employment details
  • If a foreigner, your employment pass

This card is worth a look especially if you hold an insurance policy with Prudential, though the overall rewards and benefits package is comprehensive and will be appealing to many applicants.

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