Standard Chartered has announced changes to StanChart Smart that effectively nerf the card. From 6th December 2024, minimum spending amounts will be required to unlock higher earn rates on the card. At the same time, the earn rate without a minimum spend requirement will fall from progressively from 6% to 4%, then 0.5% next year.
Also, while the card currently has no annual fee, an annual fee will also be imposed from 6th December 2025 onwards.
Minimum spending required for higher earn rates
StanChart Smart has been offering 6% cashback (or 5.6 miles per dollar) without minimum spend since its introduction a few years ago. While this earn rate is on very specific categories of spend, its earn rate is pretty generous for something without minimum spend.
This will soon change from 6th December 2024, and worsen from 1st April 2025:
| Spend Within Statement Month |
On Bonus Categories |
Other Eligible Spend |
| Less than S$800 |
4%* |
0.5% |
| S$800 or more |
8% |
0.5% |
| S$1,500 or more |
10% |
1% |
*0.5% from 1st April 2025 onwards...
