Yahoo Finance SCB Simply Cash Credit Card Review—Is Simple Really Best?
Note: As of 5 December 2022, the Standard Chartered Unlimited Cashback Credit Card was renamed to the Simply Cash Credit Card along with a card redesign.
The premise of the Standard Chartered Simply Cash Credit Card is extremely simple—1.5% cashback on everything with no minimum spending and no rebate cap.
Okay, so 1.5% doesn’t sound impressive. But most cashback cards require that you fulfil their minimum spending requirements before they’ll grudgingly hand over the rebates. And even so, there’s a limit to how much you can receive. This cashback card promises you won’t have to suffer any of these two scenarios. Let’s find out if it’s worth signing up for.
Standard Chartered Simply Cash Credit Card Review—Is it MoneySmart? | ||
 Overall: ★★★★☆ | ||
Category | Our rating | The deets |
Earn rates: Cashback |  | 1.5% cashback on practically everything. Exceptions include: Top ups and tax, parking, insurance, brokerage, and recurring bill payments. |
Earn categories | | |
Annual fees and charges | ★★★★☆ | S$194.40 (first 2 years waiver available) / $0 for supplementary cards |
Accessibility | ★★★☆☆ | Minimum income requirement: $30,000 (Singaporeans) / $60,000 (non-Singaporeans) |
Extras/periphery rewards | ★☆☆☆☆ | – Shopping discount privileges at over 3,000 outlets in Asia with Standard Chartered’s The Good Life Programme |
Sign-up bonus | ★★★★★ | Apply and spend $500 within 30 days from card approval date to get one of the following: |
See our credit card ranking rubric to find out how we rank credit cards.
Contents
What happened to the Standard Chartered Simply Cash Credit Card bonus cashback?
Should I get the Standard Chartered Simply Cash Credit Card?
Alternatives to the Standard Chartered Simply Cash Credit Card
1. Standard Chartered Simply Cash Credit Card—Summary
As a fuss-free, anything-goes card, this is as simple as it gets. You get up to 1.5% cashback on all spending, with no cashback cap and no minimum spending requirements.
Sponsored
MoneySmart Exclusive
Earn Unlimited 1.5% Cashback
Standard Chartered Simply Cash Credit Card
MoneySmart Exclusive:
Apply and Spend S$500 to get S$330 Cash via PayNow OR an Nintendo Switch OLED (worth S$549) OR an Apple Watch SE, 40mm GPS (worth S$382.50).
PLUS get a S$20 Cash Bonus by placing your Credit Card on file and making a minimum spend with selected merchants. T&Cs apply.
Valid until 30 Jun 2023
More Details
Key Features
Flat 1.5% cashback rate for all eligible purchases
No cashback cap and no minimum spend
Enjoy dining and shopping discount privileges at over 3,000 outlets in Asia with Standard Chartered’s The Good Life benefits program
2 year annual fee waiver, no minimum spend required
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
While the 1.5% cashback rate the card offers isn’t really super high, the card’s strength lies in how uncomplicated it is. If you’re not one to meticulously keep track of your spending in various categories, the Standard Chartered Simply Cash Credit Card definitely has its appeal.
However, if you also have the Unlimited$aver account, you can earn an additional bonus cashback of up to $100 per month. The catch? You must have at least $100,000 in your savings account.
2. Standard Chartered Simply Cash Credit Card—Fees
The Standard Chartered Simply Cash Credit Card is a beginner-friendly card with a minimum annual income requirement of $30,000. Besides that, the card’s annual fee is also waived for 2 years while most credit cards offer a one-year fee waiver.
Standard Chartered Simply Cash Credit Card | |
Annual fee & waiver | $194.40 including GST (waived for 2 years) |
Supplementary annual fee | – |
Interest free period | – |
Annual interest rate | 26.90%* |
Late payment fee | $100 |
Minimum monthly repayment | 1% or $50, whichever is higher |
Foreign currency transaction fee | 3.25% |
Cash advance transaction fee | 6% |
Overlimit fee | $40 |
Minimum income | $30,000 (Singaporean/PR) / $60,000 (non-Singaporean) |
Card association | Mastercard |
Wireless payment | MasterCard PayPass, Apple Pay, Samsung Pay, Google Pay |
*The effective interest rate is 26.90% per annum (minimum). If full payment is not received by payment due date, finance charges will apply and are calculated on a daily basis at 0.074% from transaction date to payment due date.
3. Standard Chartered Simply Cash Credit Card—Minimum spend
One of the best things about this card is that there’s no minimum spend that you need to meet to qualify for cashback.
If you decide to spend only $10 on your card one month, you still get the 1.5% cash rebates. It doesn’t matter what you use the card on, and you don’t have to worry if you’re using it in the right spending categories, as the 1.5% applies to practically everything (there are a few exceptions, like taxes and EZ Link top-ups).
On the other end of the spectrum, if you’re going through major (read: very expensive) life changes such as getting married, buying a new home, going on a round-the-world trip to find yourself, this fuss-free credit card will still deliver the same 1.5% rebate on your sky-high expenses.
With most other cashback credit cards, you would bust the rebate cap unless you really dedicate yourself to gaming the system and splitting your expenses. And frankly, who even has time for that!?
4. What happened to the Standard Chartered Simply Cash Credit Card bonus cashback?
The Standard Chartered Simply Cash Credit Card offers a standard 1.5% cashback on all spend.
There used to be a way to boost the cashback: Having an Unlimited$aver account with at least $100,000 parked in it. This would then earn you an additional 1.5% in cashback (up to $100 bonus cashback) monthly. Sadly, Standard Chartered no longer offers this account and your Standard Chartered Simply Cash Credit Card is stuck at the standard 1.5% cashback rate.
Psst, if you do have $100,000 to put into a savings account anyway, we’d suggest putting the lump sum into one of these high-interest savings accounts to earn greater interest.
5. Standard Chartered Simply Cash Credit Card—Exclusions
The Standard Chartered Simply Cash Credit Card is quite honestly as fuss-free as credit cards get. However, here are a few key exclusions that will not earn you any cashback:
EZ-Link top ups
Government services
Parking payments
Tax payments
Payments to educational institutions
Insurance payments
Betting
Payments to brokerages
Cleaning, maintenance services
Recurring bill payments
It hardly discriminates but if you’re thinking you could earn a steady stream of cashback with recurring bill payments that you charge to your Standard Chartered Simply Cash Credit Card, we’re sorry to burst your bubble but that’s not going to happen.
Also take note that you won’t earn cashback for EZ-Link top ups or any stored value card purchases.
6. Standard Chartered Simply Cash Credit Card—Benefits
The Standard Chartered Simply Cash Credit Card is a great fuss-free cashback card, but its benefits mostly end there. The only extra perks it comes with are some shopping and petrol discounts:
Shopping discount privileges at over 3,000 outlets in Asia with Standard Chartered’s The Good Life Programme, which is open to all SCB credit and debit cardholders. The deals include getting 30% off regular-priced items at Puma, 20% off regular-priced items at Club21, and up to 7% off accommodation worldwide with Agoda.
If you pump Platinum 98 with Techron fuel, you get 16% instant upfront discount + 5% Standard Chartered rebate + 5% rebate on nett amount charged to your Simply Cash Credit Card.
If you pump Premium 95 with Techron, Regular 92 with Techron, or Caltex Diesel with Techron fuel, you get 14% instant upfront discount + 5% Standard Chartered Rebate + 5% rebate on nett amount charged to your Simply Cash Credit Card.
7. Standard Chartered Simply Cash Credit Card—Sign-up promo
Thinking of adding the Standard Chartered Simply Cash Credit Card to your wallet? Take advantage of the ongoing sign-up promo to get S$330 cash via PayNow, a Nintendo Switch OLED (worth S$549), or an Apple Watch SE, 40mm GPS (worth S$382.50). Here’s how to qualify:
You must be new to Standard Chartered credit cards (or have cancelled yours more than a year ago)
Activate your physical card and spend S$500 within 30 days of card approval
Promotion ends 3o Jun 2023
On top of the promo above, there’s also an ongoing additional S$20 cash bonus promo if you place your credit card on file and make spend a minimum of $20 with any of the following merchants:
Shopee
Lazada
Taobao
Ezbuy
Qoo10
Carousell
Netflix
Spend $20, get $20 back. Essentially, Standard Chartered is giving you the equivalent of a $20 voucher to these merchants.
8. Should I get the Standard Chartered Simply Cash Credit Card?
The Standard Chartered Simply Cash Credit Card is great for beginners who are new to the world of cashback credit cards. You don’t have to think too much about the spending categories and their respective cashback caps or even about hitting a minimum spend requirement.
The no minimum spend requirement is especially great for students and first jobbers who might not be raking up enough monthly expenses to meet the usual requirement ($600 and above) by cashback credit cards to earn bonus rebates. Plus, without the limitations of spending categories, you can earn uncapped cashback on everything from your McDelivery orders to Grab payments.
Speaking of which, if you have a big expense coming up (perhaps, a wedding banquet), you can earn unlimited cashback with the Standard Chartered Simply Cash Credit Card. There’s no need to worry about being limited by cashback caps!
9. Alternatives to the Standard Chartered Simply Cash Credit Card
Standard Chartered’s offering isn’t the only unlimited cashback credit card on the market. American Express, Maybank and even ICBC have entered the fray. But we’ll look at the most mainstream options here:
UOB Absolute Cashback Card – This card has the highest cashback in the market at 1.7%, with lesser exclusions (you can use this card to pay your insurance premiums!) than the Standard Chartered card. The main downside is that it’s an Amex card, so you’ll be hard-pressed to find smaller merchants to accept it.
Online Promo
Get 1.7% Unlimited Cashback
UOB Absolute Cashback Card
Online Promo:
Get up to 10% Cashback and S$350 worth of Grab Vouchers when you successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 for 2 consecutive months from card approval date. T&Cs apply.
Valid until 30 Jun 2023
More Details
Key Features
1.7% limitless cashback on everything, including groceries, insurance, school fees, wallet top-ups, healthcare, Utilities & Telco Bills and Rental
No minimum spend
No minimum spend
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
Citi Cashback+ Mastercard – This card plays second fiddle to the UOB Absolute Cashback card, offering 1.6% cashback. For 0.1% less cashback, you get the benefit of the Mastercard association – a very important thing to note with the existence of the Instarem Amaze Card. This lets you stack an additional 1% cashback.
MoneySmart Exclusive
Faster Gift Redemption
Citi Cash Back+ Mastercard®
MoneySmart Exclusive:
Apply and Spend $500 to get S$300 Cash via PayNow OR an Sony WH-1000XM5 Wireless Noise Cancelling Headphones (worth $575) OR a Nintendo Switch OLED (worth S$479) OR 15,000 KrisFlyer miles (equivalent to a one-way ticket to Bali on Singapore Airlines). T&Cs apply.
Valid until 23 Jun 2023
More Details
Key Features
1.6% cashback on your spend
No minimum spend required and no cap on cash back earned
Cash back earned does not expire
Redeem your cash back instantly on-the-go with Pay with Points or for cash rebate via SMS
With Citi PayAll, you can earn and accumulate Citi Miles, Citi ThankYou PointsSM or Cash Back quickly when you pay your big-ticket bills such as rent, insurance premiums, education expenses, taxes, utilities and more
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
American Express True Cashback Card – Extremely similar to the Standard Chartered Simply Cash Credit Card as both offer 1.5% cashback. Amex True Cashback has the advantage of also offering 3% cashback during the first 6 months of card membership for your first $5,000 worth of spending.
Unlimited Cashback
American Express True Cashback Card
More Details
Key Features
2.5% Cashback on foreign currency spend (1.5% + extra 1.0%).
Unlimited Cashback - No min spend & no cap
3% Cashback for the first 6 months up to S$5,000 spend, 1.5% Cashback on any purchase you make thereafter
After your welcome bonus, continue to earn 1.5% Cashback on all eligible purchases with no minimum spending and no earn cap.
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
UOB One Card – This card gives more generous rebates on everything, but the main problem is that the minimum spending requirements are high, onerous (you need to hit the target every month in a quarter to qualify for rebates for that quarter) and confusing. If you’re looking for simplicity, avoid this card, unless you are consistently spending exactly $2,000 every month on a specific credit card.
Online Promo
Get up to 15% Rebate
UOB One Card
Online Promo:
Get up to 15% Cashback and S$350 worth of Grab Vouchers when you successfully apply for an eligible UOB Credit Card and spend a min. of S$1,000 for 2 consecutive months from card approval date. T&Cs apply!
Valid until 30 Jun 2023
More Details
Key Features
Up to 15% rebate at Shopee Singapore(excludes ShopeePay)
Up to 15% rebate at Dairy Farm International (Cold Storage, CS Fresh, Giant, Guardian, 7-Eleven & more)
Up to 15% rebate at Grab spend (including GrabFood, excludes Grab mobile wallet top-ups)
Up to 15% rebate on SimplyGo (bus and train rides)
Up to 15% rebate on UOB Travel spend
Up to 4.33% cashback on Singapore Power utilities bill.
Up to 3.33% on all retail spend (based on S$500, S$1,000 or S$2,000)
Fuel savings of up to 22.66% at Shell and SPC
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
Maybank Platinum Visa Card – Another credit card that offers a flat cash rebate for consistent spending, but with lower spending tiers than the UOB One Card. Get up to 3.33% cashback on all local spending if you spend $300 or $1,000 each month in a quarter. If you don’t mind a wee bit of responsibility and a reasonable minimum spending requirement, consider this card.
Online Promo
Maybank Platinum Visa Card
Online Promo:
Get $200 cash credit OR an Apple AirPods 3rd Generation (worth S$261.40) OR a pair of American Tourister Linex 66/24 Luggage TSA (worth S$336) when you successfully apply for an Eligible Maybank Credit Card AND a CreditAble account, and spend a min. of S$600 on Eligible Transactions each month for 2 consecutive months from card approval date. T&Cs apply.
Valid until 30 Jun 2023
More Details
Key Features
Up to 3.33% cash rebates on all local and foreign spend
3 years annual fee waived
Conclusion? For uncomplicated unlimited cashback, the Standard Chartered Simply Cash Credit Card and Amex True are extremely close, and the winner might just be whichever is offering a better credit card sign-up promotion.
P.S. Here’s our MoneySmart credit card ranking rubric
In case you’re wondering, here’s how we decide on our credit card rankings.
Is that credit card MoneySmart? Our MoneySmart credit card ranking rubric | |
Category | Our rating |
Overall | The average rating for the credit card on the whole, calculated from the ratings for the individual categories below. Plus, we’ll give you a one-liner on who we think the credit card is best suited for. |
Earn rates: Air miles / Cashback / Rewards points | Air miles / Cashback / Rewards points . This category looks at the depth rather than breadth of earn rates.   – 5 stars means this card’s got the highest earn rates within that credit card type. |
Earn categories | This category looks at the breadth rather than depth of your earnings. |
Annual fees and charges | – 5 stars: $0 |
Accessibility | Minimum income requirements: |
Extras/periphery rewards | These include: |
Sign-up bonus | 5 stars: The gift(s), cash, or miles are the highest we see out there compared to other credit cards of the same type (miles, cashback, etc). Also easy to attain these welcome bonuses. |
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