Standard Chartered Smart Card suspends applications
Standard Chartered has suspended new applications for its Smart Credit Card in Singapore. While the card offered high rewards on specific categories, recent changes to spending requirements made it less accessible to the general public.
Why it matters
Credit card reward programs are frequently adjusted or discontinued, impacting consumer financial planning and loyalty strategies.
Standard Chartered launched the Smart Card in Singapore in October 2021. Leaving aside its somewhat unimaginative name, the value proposition was surprisingly solid: up to 7.7 mpd on public transport, selected fast food restaurants and streaming services, with no minimum spend.
In December 2024, the earn rate was further boosted to an uncapped 9.3 mpd , and EV charging was added as a bonus category. The catch was a new, onerous minimum spend requirement, which put the headline rate out of reach for most people.
Still, it’s hard not to love a card that rewards you so generously for clogging your arteries at McDonald’s and Burger King, and I do know of a handful of people who swear by it, since they’re the ones in charge of the office lunch orders and coffee runs.
Unfortunately, the Smart Card could now be living on borrowed time.
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