Are you still using the Standard Chartered Singpost Visa Card for your online spending because of its 7% cash rebate?
If so, time to take a breather and read the article. If you are not aware, the Singpost card has been replaced by the above SPREE Card – which looks just like the existing Singpost card, except for the words in italics, and of course a change in the terms and conditions which are highlighted below:
- Revision of online spending cash rebate from 7% to 2%
- Previously, online spending could earn a high rebate value of 7%, but this has now been revised to 2% for online transactions (including mobile wallets and contactless transactions)
- 3% cash back for foreign currency online transactions and eligible vpost transactions
- No minimum spend
- Previously, a minimum spend of $600 was required every month in order to accrue 7% cash rebate. However, this has since been lifted.
The cap of $60 cash rebate per month still exists.
Time to keep this credit card in storage or cancel it if your wallet is too thick!