Earlier this month, while Mr Budget routinely checks his credit card transaction, he realised that Standard Chartered has charged him the annual fee for the usage of the Standard Chartered Unlimited Cashback card. 

The total amount charged was S$192.60. 

If you do the math, you will realize that the amount is actually quite a huge amount.

Some background: Standard Chartered Unlimited Cash Back card is a no frills card that gives you a flat 1.5% cash back with no minimum spend, and there is no cap on the monthly cash back. So it is a pretty useful card if you have big purchases. 

To get a cash back of S$192.60, you will need to spend a total of S$3,852.

Splitting that into 12 months that will be a minimum monthly spent of S$321! 

What this means is that, if you are paying for the