SC priority versus priority private, worth joining the latter?

[CrashWire]

Since my spend became close to zero after I stopped pumping petrol, I decided to cancel the card, because always a risk that they won't waive.

Can always cancel after they decide they wouldn't waive.

 

[singaporean11]

Priority is 0.18% I think. Priority Private got what other benefits? Coz I find priority very buang, like nothing one other than RMs trying to sell me stuff.

SC Priority Private benefits:
Free SC Visa Infinite credit card (auto fee-waiver),
Priority Private got unlimited airport lounge access,
8x free limousine transfer from/to Changi airports,
free birthday cake,
free CNY Ang Pao envelopes delivered to your home,
Lower securities trading fees.

May have free moon-cakes during Lantern Festival (from what I know this one depend on your RM).

Free advertisement to sell their products to you.

Did I miss anything else?

 

[iCubes]

SC Priority Private benefits:
Free SC Visa Infinite credit card (auto fee-waiver),
Priority Private got unlimited airport lounge access,
8x free limousine transfer from/to Changi airports,
free birthday cake,
free CNY Ang Pao envelopes delivered to your home,
Lower securities trading fees.

May have free moon-cakes during Lantern Festival (from what I know this one depend on your RM).

Free advertisement to sell their products to you.

Did I miss anything else?

The list of benefits is quite funny. Im not sure why they feel people will be motivated to park their assets with them for this kind of incentive...free birthday cake and red packets? Goodness.

 

[reddevil0728]

The list of benefits is quite funny. Im not sure why they feel people will be motivated to park their assets with them for this kind of incentive...free birthday cake and red packets? Goodness.

those people who think that way for such "benefits" aren't their target audience.

 

[iCubes]

those people who think that way for such "benefits" aren't their target audience.

The list would be seen by everyone, even customers who might not be their target audience now but could be in the future. Impression often stays. Listing them out as features/benefits is pretty lame. Does the bank not have anything else to promote instead of this? Its like a 5-star hotel telling customers they should book with them because their rooms have air-conditioning.

 

[reddevil0728]

The list would be seen by everyone, even customers who might not be their target audience now but could be in the future. Impression often stays. Listing them out as features/benefits is pretty lame. Does the bank not have anything else to promote instead of this? Its like a 5-star hotel telling customers they should book with them because their rooms have air-conditioning.

the primary "benefit" being such a customer is access to leverage, more complex products, etc, that's not typically available to retail customers.

so if people don't need access to those, then they will never find the "benefits" attractive.

 

[iCubes]

the primary "benefit" being such a customer is access to leverage, more complex products, etc, that's not typically available to retail customers.

so if people don't need access to those, then they will never find the "benefits" attractive.

Those are real benefits, but i was referring to the birthday cakes and red packets. I mean its quite insulting to actually list that out to induce a wealthy customer to join your bank right? I could be wrong that they don't use them in the marketing materials - I was just commenting if that was really used to advertise their banking program.

 

[reddevil0728]

Those are real benefits, but i was referring to the birthday cakes and red packets. I mean its quite insulting to actually list that out to induce a wealthy customer to join your bank right? I could be wrong that they don't use them in the marketing materials - I was just commenting if that was really used to advertise their banking program.

to those people who are using it for the real benefits. i wonder if they even care how it is being advertised.

 

[iCubes]

to those people who are using it for the real benefits. i wonder if they even care how it is being advertised.

Im sure not for everyone but it def has impact on some. Its the same reason companies like Amazon does rigorous testing on how colours , layout, font size, choice of words etc affect consumer decisions. And theres also a segment of aspiring customers who might not be ready now but would be later.

 

[reddevil0728]

Im sure not for everyone but it def has impact on some. Its the same reason companies like Amazon does rigorous testing on how colours , layout, font size, choice of words etc affect consumer decisions. And theres also a segment of aspiring customers who might not be ready now but would be later.

huh. i am just saying like i think those people who really use it for the real benefit will be too busy to even care about such trivial stuff

 

[iCubes]

huh. i am just saying like i think those people who really use it for the real benefit will be too busy to even care about such trivial stuff

And i am saying there will be also some people who do care.

 

[reddevil0728]

And i am saying there will be also some people who do care.

yea and those people can just go elsewhere lor. they cannot please everybody

 

[iCubes]

yea and those people can just go elsewhere lor. they cannot please everybody

If the strategy can satisfy the maximum number of people possible then why not. Its just changing some words and reframing the message. It doesnt cost alot of money.

 

[reddevil0728]

If the strategy can satisfy the maximum number of people possible then why not. Its just changing some words and reframing the message. It doesnt cost alot of money.

totally agree if it is indeed the case. but we wouldn't know ma. so is just talking hypotheticals

 

[ctan84]

free birthday cake,
free CNY Ang Pao envelopes delivered to your home,


May have free moon-cakes during Lantern Festival (from what I know this one depend on your RM).

Free advertisement to sell their products to you.

Did I miss anything else?

Where got all these? I've been a priority customer for over a yr liao. When I went to the branch to meet the RM, I didn't even get a cup of hot coffee siah...

 

[DevilPlate]

Where got all these? I've been a priority customer for over a yr liao. When I went to the branch to meet the RM, I didn't even get a cup of hot coffee siah...

Priority useless

thats why upgrade to private status lor

 

[limster]

Where got all these? I've been a priority customer for over a yr liao. When I went to the branch to meet the RM, I didn't even get a cup of hot coffee siah...

Priority private and priority are different ...

 

[singaporean11]

Where got all these? I've been a priority customer for over a yr liao. When I went to the branch to meet the RM, I didn't even get a cup of hot coffee siah...

Because your "Priority customer" missing the "Private" meh, suggest you go for an upgrade?
P/S: I am not SC RM

 

[singaporean11]

SC Priority Private benefits:
Free SC Visa Infinite credit card (auto fee-waiver),
Priority Private got unlimited airport lounge access,
8x free limousine transfer from/to Changi airports,
free birthday cake,
free CNY Ang Pao envelopes delivered to your home,
Lower securities trading fees.

May have free moon-cakes during Lantern Festival (from what I know this one depend on your RM).

Free advertisement to sell their products to you.

Did I miss anything else?

For those looking for more juice, credit to others already mentioned here, if you are "AI" (Accredited Investor) with "Aggressive" investment profile, you also get access to:

No custodian fees for custodian of stocks and bonds
Many different markets for trading stocks
Leverage
Bonds (wide range, not just SG)
Equity/bond loan
Low Forex rates (can DIY online)
more complex products (ELN, structured deposits/products) etc, that's not typically available to retail customers.

Another added benefit is that your SC RM come to your home or anywhere you prefer to meet you (you don't have to go to their office)

Did I still miss anything else?

 

[reddevil0728]

For those looking for more juice, credit to others already mentioned here, if you are "AI" (Accredited Investor) with "Aggressive" investment profile, you also get access to:

No custodian fees for custodian of stocks and bonds
Many different markets for trading stocks
Leverage
Bonds (wide range, not just SG)
Equity/bond loan
Low Forex rates (can DIY online)
more complex products (ELN, structured deposits/products) etc, that's not typically available to retail customers.

Did I still miss anything else?

Those are the main selling points of being such customers.

not those trivial stuff.

hence if people are looking at trivial stuff, then they are not the target audience.