Personal Finance

Standard Chartered Spree Credit Card: All you need to know

Aman Saxena

17.02.20 (updated more than 1 year ago)

Read time 3 minutes

Visit the official Standard Chartered Spree Credit Card page for the latest fees, benefits, eligibility details, and FAQs, including information on the Spree co-branded card partnership with SingPost, which ended on 7 April 2023.

The well-known bank, Standard Chartered, has the Spree Credit Card for those who like to shop online and in person. With incentives like cashback for retail purchases, it is easy to find the card appealing.

The card also has a monthly cap on cashback and includes various fees, including those related to overseas transactions. Below is an overview of how the card works, including its fees, eligibility requirements, and features.

Table of contents
How does it work? Fees and charges Who is eligible? What can I do with it? Overseas spend

How does the Standard Chartered Spree Credit Card work?

The Standard Chartered Spree Credit Card operates like a typical credit card. Upon approval, cardholders are issued a credit limit, with the maximum limit set at up to four times the cardholder’s monthly salary.¹

The card can be used for online and in-store purchases wherever Visa is accepted. Certain eligible transactions earn cashback, which is outlined later in this article. After each statement cycle, cardholders receive a statement indicating the amount due. Payments may be made in full, at the minimum required amount, or at another chosen amount. Any outstanding balance not paid in full is subject to interest charges.

In addition to interest, the card is subject to various fees and charges. A summary of these fees is provided below to help cardholders understand the overall cost structure of the card.

Fees and charges

	Standard Chartered Spree Credit Card²
Annual fee	S$ 192.60 (waived for first 2 years)
Annual interest rate	26.9%
Overseas exchange rate	Set by Visa
Late payment fee	S$ 80
Minimum monthly repayment	1% of principal plus interest, plus fees, charges or amounts over the credit limit, with a minimum of S$ 50
Foreign currency transaction fee	3.5%
Cash advance transaction fee	6%, with a minimum charge of S$ 15
Overlimit fee	S$ 40

Who is eligible for the Standard Chartered Spree Credit Card?

To apply for the Standard Chartered Spree Credit Card, you first must be between the ages of 21-65 years old. Next, you must meet the minimum annual income requirements. For Singapore citizens and PRs, it is S$ 30,000.

For Foreigners holding an employment pass, the annual income required is S$ 60,000. And the employment pass must be a P1, P2 or Q type Singapore Employment pass. If you hold a Q type, it must also be valid for at least the next 12 months.

You can apply directly online or at a nearby Standard Chartered bank branch. In all cases to apply, you will need to submit a copy of your NRIC or Passport, and proof of income. In some situations, you may be able to get instant approval when you submit the application online.3

What can I do with the Standard Chartered Spree Credit Card?

The Standard Chartered Spree Credit Card can be used for all your purchases big and small. And anywhere in the world where Visa is accepted. But there are additional incentives to use the card online for retail shopping purchases at home or abroad. You also can get additional discounts at other stores, like shipping or storage. Let’s breakdown the perks of the card.

Standard Chartered Spree Credit Card cashback rewards

One of the key features of the Standard Chartered Spree Credit Card is its cashback programme, which does not require a minimum spend. Cardholders receive 2% cashback on eligible online spending in Singapore dollars and 3% cashback on eligible online foreign currency spending. Spending on vPost is also eligible for 3% cashback, while other retail spending earns 1% cashback.

Cashback is capped at S$60 per month, regardless of total spending. Details of eligible transactions and applicable limits are subject to the card’s terms and conditions.⁴

Standard Chartered Spree Credit Card discounts

The other perk you get with this card are discounts at selected stores. You get 15% off storage units at Lock+Store. At Vpost, you get 25% off shipping fees for standard air shipments to Singapore with the correct promo code. And Smartpac and Singapore post give you 5% and 10% off respectively for specific transactions. In all cases, terms and conditions do apply.

Overseas spend with the Standard Chartered Spree Credit Card

When using the Standard Chartered Spree Credit Card for overseas spending, it is helpful to understand how fees and cashback apply. While eligible online foreign currency transactions earn cashback, all foreign currency transactions are subject to a 3.25% foreign currency transaction fee, whether the spending is made online, in person, or during travel for leisure or business.

Foreign currency transactions are processed through a currency conversion process before being reflected on the account statement. Transactions are typically converted first into US dollars and then into Singapore dollars. The final amount charged depends on the exchange rates applied by the card network at the time of processing. As a result, exchange rates used for card transactions may differ from publicly available reference rates, which can affect the overall cost of overseas spending.

Sources used for this article:

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