Standard Chartered Simply Cash credit card review: Fuss-free cashback

What happened?

Many in the Beansprout community expressed interest in the Standard Chartered Simply Cash Credit card. 

Today, we'll delve deeper into the features and benefits of the Standard Chartered Simply Cash Credit Card (previously known as the Standard Chartered Unlimited Cashback Credit Card) to understand the benefits and eligibility requirements of the card. 

Looking for a simple way to save your hard-earned cash? You might be interested in checking out our review of the Standard Chartered eSaver account.

Read on to find out more about the Standard Chartered Simply Cash credit card and how you can make the most of it.

What is the Standard Chartered Simply Cash Credit Card?

The Standard Chartered Simply Cash Credit Card offers cashback benefits for everyday spending. It offers a flat 1.5% cashback on all eligible transactions, making it a versatile option if you are seeking straightforward rewards regardless of spending category.

This card eliminates the need to track points or miles, simplifying your experience. 

Simply swipe your card and earn cashback on every purchase, from groceries and dining to entertainment and shopping. 

With its straightforward cashback structure and diverse applicability, the Standard Chartered Simply Cash Credit Card offers you a fuss-free and rewarding way to maximise your spending power.

What are the benefits of the Standard Chartered Simply Cash credit card?

#1 - Unlimited 1.5% flat cashback 

The Standard Chartered Simply Cash Credit Card stands out with its uncomplicated and versatile approach to cashback. 

Unlike many cards that offer category-specific rewards, the Simply Cash Card cuts through the clutter, offering unlimited 1.5% flat cashback. 

Earn on all your eligible purchases, encompassing your everyday spending needs. This means groceries, dining, travel, entertainment, you name it – every dollar spent contributes to your cashback.

The Standard Chartered Simply Cash Card doesn't offer quarterly cashbacks such as the UOB One credit card, but it shines with a different advantage: simplicity. 

Unlike some cards with tiered rewards that require tracking spending and hitting specific thresholds, the Simply Cash Card offers a flat 1.5% cashback on all your eligible purchases. Every dollar spent, big or small, contributes to your cashback stash.

This straightforward approach eliminates the need for complex calculations and ensures you earn consistently on your everyday spending, regardless of how much you spend in a specific month. You always know what to expect, making budgeting and reward tracking a breeze.

#2 - No minimum spend and cap

Unlike some cards that require you to jump through hoops, like reaching a minimum spend or facing cashback caps such as the UOB One credit card, the Simply Cash Card offers a different advantage: simplicity. 

The card allows you to earn rewards on all your purchases without worrying about reaching minimum spending thresholds or hitting cashback limitations.

Every dollar spent contributes to your cashback, regardless of the amount. So, whether you're grabbing a coffee or buying groceries, you're still earning rewards. 

This makes it suitable especially for those with upcoming home renovation, hosting a wedding banquet, or splurging on a dream designer item.

In case you’re wondering, your earned cashback is automatically applied to offset your next statement balance, requiring no additional action on your end. 

You can track your cashback earnings on your monthly statements, with the funds credited to your account in the following month. This ensures you're always aware of your accumulated rewards and their application.

#3 - 24.5% fuel savings with Caltex

Besides the cashback, the Standard Chartered Simply Cash Credit Card offers additional benefits on Caltex fuel spending. 

From 1 January to 31 March 2024, get up to 24.53% savings with the Simply Cash credit card. 

You may visit the Standard Chartered website for the latest information on any ongoing promotions related to Caltex fuel spending with this card.

#4 - Exclusive Perks and Privileges

Beyond cashback, the Simply Cash Card unlocks a world of benefits through Standard Chartered's The Good Life® program. 

This is a comprehensive benefits program available to all SCB credit and debit cardholders, which adds further value to your card membership.

Indulge in exciting shopping and dining experiences with The Good Life® program. Enjoy savings at over 3,000 outlets across Asia, encompassing both your favourite shopping destinations and delectable dining options.

Treat your wardrobe to 30% off regular-priced items at Puma or 20% off at Club21. Craving a getaway? The Good Life® can help you save up to 7% on accommodation worldwide with Agoda. And when you're ready to fuel your culinary adventures, explore 1-for-1 deals and cashback bonuses at participating restaurants through the program.

These are just a few examples, with The Good Life® offering a diverse range of deals across various categories, ensuring there's something for everyone.

What are the eligibility criteria of the Standard Chartered Simply Cash credit card?

To be eligible for the Standard Chartered Simply Cash credit card, you will need to be at least 21 years old.

The annual income requirements are:

• $30,000 and above for Singaporean citizens and Singapore PRs 
• $60,000 and above for foreigners

What are the annual fees of the Standard Chartered Simply Cash credit card?

The annual fees for the Standard Chartered Simply Cash credit card is $194.40 (including GST).

The Standard Chartered Simply Cash Credit Card offers an automatic annual fee waiver for the first year. 

This means you don't need to worry about remembering to call and waive the fee, making your experience even more hassle-free.

After the first year, the standard annual fee of S$194.40 (including GST) applies.

Comparing the Standard Chartered Simply Cash Credit against other credit cards

Standard Chartered Simply Cash vs AMEX True Cashback Card

When it comes to choosing a straightforward cashback credit card, the Standard Chartered Simply Cash Credit Card and the American Express® True Cashback Card emerge as strong contenders. 

Both cards offer a combination of 1.5% flat cashback on all eligible purchases, no minimum spend requirement, and no cap on cashback earnings. 

However, beyond these similarities, they each cater to specific needs through unique benefits.

For those seeking an initial boost to their cashback rewards, the American Express® True Cashback Card might be the more enticing choice. It offers a 3% cashback boost for the first 6 months (up to S$5,000 spend), allowing you to accumulate extra rewards during a limited period. 

Additionally, if you're a frequent traveler, the American Express® True Cashback Card’s free travel insurance provides valuable peace of mind. And for those who enjoy dining out, access to American Express Selects dining privileges unlocks exclusive benefits at participating restaurants.

AMEX True Cashback card however lacks Standard Chartered Simply Cash’s SimplyGo functionality which makes it a more convenient alternative for commuters.

If you prioritise convenience for your daily commute and appreciate a straightforward cashback experience, the Standard Chartered Simply Cash Credit Card might be the ideal solution. 

Standard Chartered Simply Cash vs UOB One credit card

The UOB One credit card is a credit card by UOB which offers cashback benefits on spending across various categories.

The Standard Chartered Simply Cash credit card has no minimum spending requirement to earn cashback compared to the minimum spending requirement of $500 per month to earn cashback for the UOB One credit card. 

This means that even if you spend only $10 for the entire month with the Simply Cash credit card, you will still be entitled to your cashback.

The Standard Chartered Simply Cash credit card offers an unlimited 1.5% flat cashback on all spending while the UOB One credit card offers a 3.33% base quarterly cashback on all spending, as well as additional cashback for selected categories. 

The UOB One Card shines for consumers with a consistent monthly spend around S$2,000. At this level, you'll unlock the maximum 5% flat quarterly cashback, capped at S$300 per quarter. 

The Standard Chartered Simply Cash credit card is a good alternative especially since the simplicity and unlimited earning potential make it an attractive option for very high spenders who might exceed the quarterly caps of the UOB One Card.

Standard Chartered Simply Cash vs Citi Cashback+ Card

The Citi Cashback+ is a credit card by Citibank which offers cashback rewards on spendings across all categories.

The Standard Chartered Simply Cash credit card has a 1.5% unlimited flat cashback compared to Citi Cashback+ Card with a 1.6% cashback. 

Both cards are similar in terms of their mechanics such as unlimited cashback and no minimum spend requirements. 

However, do keep in mind that the Citi Cashback+ Card doesn’t let you earn cashback on your bill payments and other regular excluded categories such as card fees and charges, insurance premiums, payments to banks and brokerages etc. 

What would Beansprout do?

The Standard Chartered Simply Cash credit card is a simple yet powerful cashback credit card, offering a 1.5% unlimited cashback on all eligible transactions. 

This makes the Standard Chartered Simply Cash credit card ideal if you are looking for a fuss-free cashback card on your everyday spend. 

Most importantly, there is no minimum spend and cap on the cashback you can earn. 

This makes it an attractive offering for students and first jobbers who might not be raking up enough expenses to meet the usual requirement ($500 and above) by cashback credit cards to earn rebates.