Standard Chartered Prudential Visa Signature Card Review
Earn up to 10X reward points to offset your insurance premiums with this invitation-only credit card.
In this review, we’ll cover the benefits and features of this card, the potential savings you can get and if it is right for you.
$0 annual fee for 2 years - $192.60 thereafter
Effective Interest Rate
Min Income - Singaporean and PR
|Product Name||Standard Chartered Prudential Visa Signature Card|
|Reward||Earn up to 5X rewards points for every $1 spent for eligible dining transactions, with no minimum spend required. T&Cs apply.|
|Effective Interest Rate||26.9%|
|Interest Free Period||Applicable if you choose to make full payment|
|Maximum Credit Limit||Up to $250,000|
|Minimum Monthly Repayment||The higher of $50 or 1%.|
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The main benefit of the Standard Chartered Prudential Visa Signature Card is the option for you to earn reward points from your insurance expenses, and also be able to offset your Prudential insurance premiums with them. Before you sign up with this card, make sure you take some time to weigh the potential savings you can get with this card compared to earning cashback from another credit card and simply paying your Prudential bill in cash. Needless to say, if you’re not insured with Prudential and don’t plan to be, there’s little reason to own this card.
Benefits of using the Standard Chartered Prudential Visa Signature Card
Here are some of the benefits you can expect:
- Sign-up offer. Receive up to $280 cashback and 6-month Disney+ subscription when you spend $200. T&Cs apply. Ends 31 Jan 2022.
- Up to 10X rewards points on foreign spend. Earn up to 10X reward points for every $1 spent in foreign currency on eligible overseas transactions, with no minimum spend required. However, do note that the 10X reward points comprise of 1.5 points from the basic rate and 8.5 additional points from elevated earn. While there’s no maximum cap on base rate reward points, the additional points you can earn is capped at 20,000 per year.
- Up to 5X rewards points. Earn up to 5x reward for every $1 spent on eligible dining transactions, with no minimum spend.
- 1 reward points on all general spend. Gain 1X rewards points for every $1 spent on eligible purchases, including insurance-related transactions. There’s no minimum spend required and no earn cap for this base reward rate.
- Caltex Promotion. Up to 16% petrol savings at Caltex stations. T&Cs apply. Valid till 31 Jan 2022.
- The Good Life offers and privileges. Cardholders can take advantage of various perks and discounts offered by Standard Chartered Bank, including dining discounts, gift vouchers at retail stores, online shopping promo codes and cashback from qualifying hotel stays.
- Complimentary travel insurance. Receive complimentary travel insurance up to $500,000 when you charge your full travel fare to your card.
- Offset your premiums. Redeem your reward points for cash value to offset your insurance premiums for eligible Prudential policies.
Features of the Standard Chartered Prudential Visa Signature Card
Some of the Standard Chartered Prudential Visa Signature Card‘s competitive features include:
- Annual fee waiver. The annual fee of $192.60 p.a. is waived for the first two years.
- SC EasyBill. Earn cashback, reward points and bonus interest when you pay your IRAS, education, insurance and rental bills with SC EasyBill payment programme.
- Complimentary extras. Standard Chartered also offers a broad range of additional card features:
- EasyPay. With this service, you may split your big-ticket retail transactions (at least $150) into an interest-free repayment plan across 3 to 12 months, with a one-time service fee of 0.1%.
- Funds transfer. You are eligible to transfer funds over a certain minimum amount at 0% interest for 6 to 12 months for a one-time processing fee of 0.7% or above.
- Recurring payment plan. Consolidate your monthly bills into one single card payment for easy payment.
- 0% interest instalments. Standard Chartered offers 0% interest instalment plan and flexible repayment terms up to 36 months. In addition, you also continue to earn 360° Rewards points or cashback on all purchases made on the instalment plan.
- Mobile wallet payments. Your card is compatible with Google Pay, Apple Pay, Visa payWave and Samsung Pay, so you can pay for both your online and offline transactions conveniently.
- CardSafe Guarantee. With CardSafe Guarantee protection, you won’t be liable for any unauthorised online transactions. Terms and conditions apply.
How to apply for the Standard Chartered Prudential Visa Signature Card
The Standard Chartered Prudential Visa Signature Card is a card exclusively availed by invitation only. If you are a Prudential customer, it shouldn’t be long until you receive an invitation. However, if you’re keen on this card, you may express your interest to your financial advisor or directly to Standard Chartered Bank.
Make sure you meet the criteria for this card and have the following information ready:
- Minimum annual income of at least:
- $30,000 p.a. for Singaporean or permanent resident
- $60,000 p.a for foreigners with employment pass
- Foreigners need to be holders of these employment passes: P1, P2 or Q type (with at least 1-year validity)
- Between 21 to 65 years of age
- Have a good credit rating
- Maintain at least $10,000 in annual premiums or $100,000 in single premiums, or a combination of both.