Standard Chartered Visa Platinum Credit Card Review: The Simple Way to Earn More Rewards Points

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Standard Chartered Visa Platinum Credit Card Review

For all the rewards that you can get with credit cards, at times making sense of their complicated terms and conditions can get cumbersome. If you’re someone who just wants to get rewarded for all the regular spends charged to your credit card, guess you might like the Standard Chartered Visa Platinum.

While you can earn 5x Reward Points on dining expenses, department store purchases and overseas spends charged to the card, you will also bag 5,000 bonus points every month when you spend just RM1,500 in a month. 

Read our review to find out how you can make the most of the Standard Chartered Visa Platinum Credit Card. And if you like the card, scroll to the bottom of this article and apply for it, right here on BBazaar, and get a free gift too!

Here are the main highlights of this credit card:

  • Earn 5x 360 degrees Rewards Points on department store purchases, dining spends, and overseas transactions
  • Earn 1x 360 degrees Rewards Points on all other local retail spends made with this card
  • Get 5,000 Rewards Points as a bonus every month when you spend RM1,500 in total
  • The annual fee for the principal and supplementary credit card is waived for life

Related: Citi Simplicity+ Review: A Simple, yet Unique Credit Card

So how to extract maximum Rewards Points from the Standard Chartered Visa Platinum credit card? Take a look at these two illustrative tables based on total monthly spending amount.

When you spend a total of RM1,000 in a month using this card:

Category of purchases

Amount spent as per categories Percentage of total spending Reward Points earning rate Reward Points earned Bonus Reward Points earned

TOTAL REWARD POINTS EARNED

Dining

RM225 22.5% 5x 1,125

Department stores

RM400 40% 5x 2,000

Overseas spends

RM225 22.5% 5x 1,125

Petrol, groceries, pharmacy and other spends

RM150 15% 1x 150

TOTAL

RM1,000 4,400 0

4,400

When you spend a total of RM1,500 in a month using this card:

Category of purchases

Amount spent as per categories Percentage of total spending Reward Points earning rate Reward Points earned Bonus Reward Points earned

TOTAL REWARD POINTS EARNED

Dining

RM200 13.33% 5x 1,000

Department stores

RM500 33.33% 5x 2,500

Overseas spends

RM300 20% 5x 1,500

Petrol, groceries, pharmacy and other spends

RM500 33.33% 1x 500
TOTAL RM1,500 5,500 5,000

10,500

The above illustrative tables clearly show that your pool of earned points sees a major boost once your total monthly spending reaches RM1,500 using this credit card.

And assuming that you spend RM1,500 every month with a similar spending pattern, you can earn (10,500×12) 126,000 Rewards Points in a year!

Related: Standard Chartered Priority Banking Visa Infinite Review: A Premium Credit Card That Rewards Loyalty

And what can you get with your Rewards Points?

Whatever your points total is at the end of the day, you can redeem it in a hassle-free manner on the Standard Chartered 360 degrees Rewards Catalogue:

For a total of 20,000 points or more, you can choose from: Travel essentials (such as travel pouch, luggage tag, travel lock, gift card/vouchers or Tupperware products

For a total of 50,000 points or more, you can choose from: Bags (such as laptop bag, foldable travel bag, school bag), lock & lock products, and home electronics

For a total of 150,000 points or more, you can choose from: Luggage bag and smartphones

Click here for a detailed list of products that can be redeemed with your Rewards Points.

How does it compare against other rewards cards?

Standard Chartered Visa Platinum Credit Card Review

To test its mettle, we compared Standard Chartered Visa Platinum against the Citi Rewards Visa Signature Credit Card. Here’s what we found out:

First up, the maximum number of Rewards Points you can earn with both the cards is the same – 5x. However, the transaction amount to earn 5x Citi Rewards points for eligible spends is capped at RM3,000 per month. Thereafter, you’ll earn 1x Citi Rewards point for every RM1 spent.

But there’s no such spending condition for the Standard Chartered credit card. No matter how much you spend using this card, you’ll earn the requisite number of points based on the eligible spending category. As an added bonus, you get 5000 points every month if you spend RM1,500 or more.

Next, the number of reward points that the Citi credit card offers for overseas spends is limited too – RM24,000 p.a. Again, the Standard Chartered credit card has no such limit.

But, where this card does lose out to the Citi credit card is the additional features on offer like travel insurance, purchase protection, and airport lounge access. Also, while Standard Chartered Rewards Points expire in 3 years, the Citi Rewards Points never expire.

Lastly, there’s a major difference in the annual fee you’ll have to pay. On one hand, the Standard Chartered Visa Platinum Credit Card works as a great rewards card and costs nothing to use as its annual fee is waived for lifeOn the other hand, the Citi Rewards Credit Card has plenty to offer when it comes to rewards and additional protection features. But, it does come at a steep cost of RM600 – the annual fee.

Related: Top Petrol Credit Cards in Malaysia That Let Us Drive Around for Less

Conclusion

When you look at the full picture, the Standard Chartered Visa Platinum Credit Card provides good value as a rewards credit card. With a high number of points on offer for dining, department store and overseas spends, and bonus points to be earned every month, your overall points can go up significantly with a more-than-achievable monthly spend target of RM1,500 or more in a month. And, to top it all off, the annual fee for this card is waived for life!

That said, the major drawback with the card is only 1x Rewards Point for petrol and grocery spends, that often constitute a major chunk of monthly expenses.

Liked this credit card? Apply for it now on BBazaar and get a free gift!

Standard Chartered Visa Platinum
Card Type : Rewards
Bbazaar promotion : A Huawei Y6 2018 phone for free. T&Cs apply
Apply Now
  • Get 5,000 bonus points on a minimum spend of RM1,500 per month

    Earn 5x points on dining, departmental store purchases, and overseas spends

    Earn 1x points on all other local spends

  • Minimum income: RM24,000 p.a.

    Minimum age: 21 years old

    For salaried: Copy of NRIC (both sides), last 1 month’s salary slip and bank statement, last 6 months’ salary slip and bank statement for commission earners, latest EPF Statement, latest Borang BE(Full submission to LHDN)

    For self-employed: Copy of NRIC (both sides), last 6 months’ bank statement and Business Registration Form 9, 24, 49, latest EPF Statement, latest Borang B/BE(Full submission to LHDN)

  • Annual fee: Waived for life (Principal card and supplementary card)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of outstanding balance subject to a minimum of RM10 and a maximum of RM100

Want more options? Check out our other credit card reviews:

All information provided in this article/blog, published on this website is strictly for general information purpose only. BBazaar does not provide any warranty about the authenticity and accuracy of such information. BBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.

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