SCB SingPost/Spree Card

[lookers]

wait, so existing SCB signpost card no more 7% off online spendings ? capped at $60? zun bo

Please note that from 9 Oct' 17, the Product Terms for SingPost Platinum Visa Credit Card will be revised. The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed. Details including the revised Terms and Conditions will be available from 9 Oct' 17 onwards.

Means wanna buy faster buy before 9 oct then still can get the 7% rebate right?

 

[Trazora]

wait, so existing SCB signpost card no more 7% off online spendings ? capped at $60? zun bo

Please note that from 9 Oct' 17, the Product Terms for SingPost Platinum Visa Credit Card will be revised. The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed. Details including the revised Terms and Conditions will be available from 9 Oct' 17 onwards.

Means wanna buy faster buy before 9 oct then still can get the 7% rebate right?

Yes should still work now.

 

[zumaba]

Means wanna buy faster buy before 9 oct then still can get the 7% rebate right?

Yes should still work now.

still can wait till Oct.9 to see what changed then charge? The change would not take effects immediately, right?

 

[Trazora]

still can wait till Oct.9 to see what changed then charge? The change would not take effects immediately, right?

Based on MAS ruling, need at least 1 month for the new TnC to take effect. Assuming the new TnC will be less favorable, should charge ASAP and get the rebate before the new TnC take effect.

 

[cowfart]

Based on MAS ruling, need at least 1 month for the new TnC to take effect. Assuming the new TnC will be less favorable, should charge ASAP and get the rebate before the new TnC take effect.

What MAS ruling is this?

DBS quietly changed its T&Cs for the Visa Debit in April 2017, insisting that the newly imposed restrictions (i.e. less favourable conditions) took effect immediately without prior notice.

I had to push back long and hard before they relented...

 

[Trazora]

I may have remembered the crux wrongly. The code of consumer banking practice is as follows

Your bank promises to:
i. notify you of any changes in the Terms and Conditions governing the product or service through an appropriate channel (see Section 14);
ii. give you 30 days’ notice, in the absence of any contractual agreement to the contrary, before any variation to the Terms and Conditions relating to customers’ fees and charges and the liabilities or obligations take effect;
iii. provide a written summary of the key features of the revised Terms and Conditions, if the variation is
substantial or the changes are complicated;

 

[pinpinpin]

so we still have 30 days after they change the T&C?

 

[jovialger]

wait, so existing SCB signpost card no more 7% off online spendings ? capped at $60? zun bo

Please note that from 9 Oct' 17, the Product Terms for SingPost Platinum Visa Credit Card will be revised. The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed. Details including the revised Terms and Conditions will be available from 9 Oct' 17 onwards.

Means wanna buy faster buy before 9 oct then still can get the 7% rebate right?

Are you speculating that they are removing the 7% online rebate, which is the main draw of this card?

 

[259850]

Are you speculating that they are removing the 7% online rebate, which is the main draw of this card?

I'm pretty sure that's what they meant by:

"The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed."

We'll find out Monday. At least we know from elsewhere that it's going to be called Singpost Spree. "Spree" has me worried...I have this nagging suspicion that they'd want a certain amount of offline spend in order to qualify for the rebates on online spend. Pretty much what OCBC Frank did.

 

[Trazora]

I'm pretty sure that's what they meant by:

"The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed."

We'll find out Monday. At least we know from elsewhere that it's going to be called Singpost Spree. "Spree" has me worried...I have this nagging suspicion that they'd want a certain amount of offline spend in order to qualify for the rebates on online spend. Pretty much what OCBC Frank did.

Lol. Don't give them ideas.

 

[cheery]

I'm pretty sure that's what they meant by:

"The name and the card benefits such as cashback rate for spends on your card and monthly spend criteria will be changed."

We'll find out Monday. At least we know from elsewhere that it's going to be called Singpost Spree. "Spree" has me worried...I have this nagging suspicion that they'd want a certain amount of offline spend in order to qualify for the rebates on online spend. Pretty much what OCBC Frank did.

If they do that, many will stop using their SCB card, and they will lose transaction charges from merchants. HAHA

 

[pcmdan]

If they do that, many will stop using their SCB card, and they will lose transaction charges from merchants. HAHA

When I was in scb, the consumer head was telling us that singpost credit card is a loss making card.

Reason alot of people are maximizing the reward by not spending above it.

Transactions earned by them would never exceed 7%

 

[more3cm]

When I was in scb, the consumer head was telling us that singpost credit card is a loss making card.

Reason alot of people are maximizing the reward by not spending above it.

Transactions earned by them would never exceed 7%

Who in the right mind will want to spend above the max rebate amount?

 

[zumaba]

how come the cash rebate is not in for this month? only tomorrow?

 

[259850]

Who in the right mind will want to spend above the max rebate amount?

When you have a supplementary cardholder, and you don't check spending every day, sometimes can overshoot. For instance, this month I spend $871. Damn!

 

[Trazora]

how come the cash rebate is not in for this month? only tomorrow?

Cashback credited right after statement date. Your statement out already?

 

[lookers]

When you have a supplementary cardholder, and you don't check spending every day, sometimes can overshoot. For instance, this month I spend $871. Damn!

$871 only haven maximize what... $858 is the magic number... lolx

Are you speculating that they are removing the 7% online rebate, which is the main draw of this card?

Ya.. confirm one lae... Frank card already kena nerfed. Manhattan card also kena nerfed. now.......... sigh.... SCB Singpost also wanna tio nerf liaoz =/

 

[greddy88]

When you have a supplementary cardholder, and you don't check spending every day, sometimes can overshoot. For instance, this month I spend $871. Damn!

I believe they earn from interests and annual fees than from transactions.
Just look at the threads that pop up occasionally asking how to settle cc bills.

1 strike from a poor soul is good enough to cover many many.
Apparently ppl are getting more savvy and they are starting to lose money on cc business

 

[cheery]

When you have a supplementary cardholder, and you don't check spending every day, sometimes can overshoot. For instance, this month I spend $871. Damn!

Yea.. on rare cases will overshoot.... beyond $1000...

Ending up only get 3% cashback.

Looks like will go for 2nd best card now if they chose to remove what we all loved. lol

 

[Lucky_Farmer]

Yea.. on rare cases will overshoot.... beyond $1000...

Ending up only get 3% cashback.

Looks like will go for 2nd best card now if they chose to remove what we all loved. lol

What's your 2nd best card?