Standard Chartered Visa Infinite Review

Standard Chartered Visa Infinite Review – Best Miles-Earning Card for Business Travels

If you’re a frequent business traveller, the Standard Chartered Visa Infinite Credit Card is a difficult credit card to beat. Cardholders are able to earn 3 miles with every $1 of overseas spending, and 1.4 miles with every $1 of local spend. 

Customers also get to enjoy complimentary travel insurance, up to six Priority Pass lounge visits per year and much, much more – it’s just unfortunate that Standard Chartered charges a very high annual fee premium for all these privileges. 

Key Features

  • Earn up to 3 miles for every $1 worth of foreign currency spend
  • Claim up to 1.4 miles for every $1 worth of local spend
  • Take advantage of the 35,000 miles welcome gift bonus when you apply
  • Enjoy complimentary airport lounge access six times annually with Priority Pass 
  • Earn Rewards Points on income tax payments just by charging them to your card
  • Get up to 23% fuel savings when buying petrol at Caltex

 

How Does the Standard Chartered Visa Infinite Credit Card Work? 

The Standard Chartered Visa Infinite Credit Card rolls a lot of amazing perks into one card, but how exactly does it all work? Let’s take a look at how you can squeeze as many benefits as possible out of your Standard Chartered Infinite Card.

1. Get Up to 3 Miles for Every $1 Spent 

Standard Chartered Infinite Cardholders will initially earn just 1 mile for every $1 spent in local and foreign currency – but these rates can be significantly boosted by hitting a minimum spend limit each calendar month. Once you exceed $2,000 in local and overseas spending, you’ll earn 3 miles per $1 on foreign transactions and 1.4 miles for every $1 worth of local spend.

2. Reel In Income Tax Payments Rewards 

If you want to claim huge rewards on income tax payments, simply charge any and all minimum payment or mobile payments related to income tax to your Standard Chartered Infinite Card. But be careful – you’ll need to make sure your available credit limit covers the payment amount as well as a one-time processing fee of 1.6% of the tax amount each time you make payment.

3. Claim a 35,000 Bonus Miles Welcome Gift 

Anyone who meets Standard Chartered’s minimum annual income requirements and other eligibility criteria can claim a very generous welcome gift worth up to 35,000 bonus miles when signing up for the Visa Infinite Card. This bonus perk is potentially worth up to $350.

4. Enjoy Huge Caltex Fuel Savings

Infinite Card customers can also tap into superb fuel savings of up to 23% with Caltex. That said, this promotion is set to run dry by 31 December 2021 – so act quickly to save now!

5. Maximize your Priority Pass Lounge Visits

Cardholders can also enjoy airport lounge access with their Infinite Card, worth up to six complimentary visits per year at participating Priority Pass airports. If you travel frequently for business, we suggest taking full advantage of this.

6. Earn Extra Points on Mortgage Loans, Investments and More

Standard Chartered offers customers tons of opportunities to earn additional points. For example, you can earn 10 extra points per month for every $10,000 worth of outstanding balance in your account from mortgage loans. If you’re into investments and savings accounts, you can also earn an additional 25 points for every $10,000 average Asset Under Management. To claim these perks, however, you’ll need to hit a $500 minimum spend each calendar month.

 

Infinite Card Rewards Summary – What Do We Make of These Perks?

From excellent miles-earning potential to complimentary travel insurance, airport lounge access, and more, frequent business travelers get to enjoy plenty of high-value perks with the Standard Chartered Infinite Card. That said, it’s definitely worth noting that in any points or miles-earning scenario, your perks will be credited as “Rewards Points” initially, which must later be converted into the gift of your choice. 

For example, if you wish to claim air miles, the Standard Chartered 360 Rewards Program considers 2.5 points to be equivalent to one air mile – meaning you’ll need to convert your Rewards Points into miles at this rate. A conversion fee of $25 will apply each time you request a conversion.

 

Pros

  • Earn between 1 and 3 miles per $1 on qualifying transactions abroad and at home
  • Superb Priority Pass benefits – including airport lounge access
  • Claim additional points when paying your taxes
  • Private banking customers are rewarded for bank account activity
  • Additional perks include 30% off dining at Marina Bay Sands, eCommerce protection and more

Cons

  • High annual fee costs of $588.50 with no annual fees waivers available
  • Local spend doesn’t attract the best miles-earning rates
  • Minimum annual income requirements are stricter than competitor cards
  • Income tax perks incur a one time processing fee / one time service fee of 1.6%
  • Might not be suitable for regular Singaporeans who want to earn points on retail transactions 

 

How the Standard Chartered Visa Infinite Credit Card Compares to Other Miles-Earning Cards 

Let’s take a brief look at how Standard Chartered’s flagship product for frequent business travelers shapes up against some other popular miles-earning cards available here in Singapore:

Annual Fees Interest Rate Minimum Income Requirement Miles Conversion Fee Miles Per Dollar (Local) Miles Per Dollar (Overseas)
Standard Chartered Visa Infinite Card $588.50 (strictly non-waivable) 26.9% $30,000 for Singapore citizens and Permanent Residents $25 1.4 miles per dollar 3 miles per dollar
Citi PremierMiles Card $192.60 (annual fee waiver available) 26.9% $30,000 $25  1.2 miles per dollar 2 miles per dollar
American Express Singapore Airlines KrisFlyer Credit Card $176.55 (annual fee waiver available) 26.9% $30,000 N/A 1.1 miles per dollar 2 miles per dollar
DBS Altitude Visa Signature Card $192.60 (annual fee waiver available) 26.8% $30,000 $27 1.2 miles per dollar 2 miles per dollar
HSBC Revolution Credit Card N/A 25.9% $30,000 $40 4 miles per dollar 0.4 miles per dollar
UOB Lady’s Card $192.60 (annual fee waiver available) 25.9% $30,000 $25 4 miles per dollar 0.4 miles per dollar

 

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What We Think of the Standard Chartered Visa Infinite Card 

The Standard Chartered Visa Infinite Card demands a high annual fee from applicants but offers competitive minimum annual income requirements, interest rates, and miles conversion fees compared to most competitor credit cards. Where Standard Chartered really shines, however, is with that fantastic 3 miles per dollar earnings rate on overseas spending, which trumps pretty much any other card on the market.

That said, customers looking to save money on annual fees might want to check out the Citi PremierMiles Card, DBS Altitude Visa Signature Card, or the American Express Singapore Airlines KrisFlyer Credit Card – all of which offer competitive earnings potential with annual fees waived for the first year or more. 

If you’re more of a local shopper, it’s also worth noting that both the HSBC Revolution Credit Card and the UOB Lady’s Card offer more attractive interest rates and an impressive 4 miles-per-dollar earnings rate on local spend. That said, you will lose out significantly when it comes to foreign currency transactions made using these cards – and the UOB option is limited to female applicants only. Ultimately, which card is the best fit for you will depend on your spending habits and unique requirements.

 

How To Apply for the Standard Chartered Visa Infinite Card

You can apply for the Standard Chartered Visa Infinite Credit Card quickly and easily online here, but you’ll need to meet the eligibility criteria outlined below before you can apply:

Eligibility Criteria for the Visa Infinite Card

Age Limit

  • 21 to 65 years old

Minimum Annual Income Requirement

  • $30,000 for Singapore citizens and permanent residents (PRs)
  • $60,000 for foreigners holding Employment Passes

What’s more, you may be expected to provide evidence of the following personal information and documents:

  • NRIC or Passport
  • Last 6 months’ CPF Contribution Statements
  • Latest Income Tax Notice of Assessment (you may need 2 years’ latest Income Tax Notice of Assessment, and for your business to have been in operation for 2 years minimum, if you are self-employed)
  • Most recent computerized payslip
  • Employment Passes (if you are a foreigner)

You’ll also need to ensure you are 100% satisfied with the below card fee structure regarding transfer fee costs, cash advance fees, and more:

Card Fees – Annual Fee, Cash Advance Fees, and Other Finance Charges

  • Annual Fees – $588.50 (no waiver available)
  • Interest Rate – 26.9% Effective Interest Rate (EIR) per annum 
  • Cash Advance Fee – 6% plus a minimum fee of $15 and finance charges of 0.077% per day
  • Late Payment Fee – $100
  • Foreign Currency Transaction Fee – 3.5%
  • Points to Miles Transfer Fee – $25
  • One Time Service Fee for Income Tax Perks – 1.6% 

 

Frequently Asked Questions about the Standard Chartered Visa Infinite Credit Card

1. What is Standard Chartered Priority Pass? 

In short, Standard Chartered’s Priority Pass is an industry-leading airport lounge access program that pairs with more than 1,000 airport lounges all over the globe. Visa Infinite Credit Card customers get to enjoy stays at up to 6 airport lounges annually.

2. Is There a Minimum Spend Required to Earn Rewards/Miles? 

Yes, you’ll need to hit a min spend limit of $2,000 per calendar month in your statement cycle to enjoy the best miles to dollar earnings rates when you spend.

3. How Can I Redeem My Miles/Points? 

Standard Chartered Priority Banking customers can redeem Rewards Points for air miles, cashback, and more online using the Standard Chartered website. More information about SC’s private banking programme and rewards conversion can be found here

4. Are There any Cashback Perks? 

Yes, it’s possible for all Standard Chartered debit and credit cardholders to claim cashback perks at participating hotels, restaurants, and online stores via the bank’s ever-popular Good Life Program. You can discover more information about the program here.

5. How Do I Claim My Complimentary Travel Insurance?

You can access cover of up to $1,000,000 whenever you travel by charging your trip to your Visa Infinite Card before you set off. You can find out more here.

6. Do Other Standard Chartered Cards Offer the Income Tax Payment Perk?

No, at the time of writing, only the Visa Infinite Card enables customers to earn points on their income tax payments.

 

Our Final Thoughts 

Customers who make the right qualifying transactions at home and overseas can enjoy some serious miles-earning potential with the Standard Chartered Visa Infinite Credit Card, as well as tons of other amazing perks. That said, whether this card is suitable for you will be dependent on what you intend to use it for, as well as your everyday spending habits and whether you travel frequently enough. Before applying for your Visa Infinite Card, keep in mind that:

  • Foreign transactions attract the best miles-earning rates, but only if you spend more than $2,000 per month 
  • You’ll need to commit to paying a high annual fee before you can unlock this card’s potential
  • Competitor products might offer better rates on local spend – so shop around according to your needs

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