Standard Chartered annual fee story

[cloudnim]

Improve your credit score lah,or cancel the card lor

 

[winningeleven]

Standard Chartered Bank doesn't work that way ...... as long as the annual fee cycle commences ... U are liable for the FULL annual fee even if u pay in FULL the annual fee and cancel the next day ....

This is the 1st time it has happened to me ..... they have waived the annual fee for a couple of years and 1st time my fee waiver request was rejected by SCB!! I have been using their card off and on .... This card was offered to me via a cold call by SCB as I was their customer previously ....

Funny thing is for OCBC ...... they also called to offer 3 free cards for 3 years .. have never used their cards and this year need to pay annual fee .... I called to cancel and they auto renew FOC ......

How could it be. Paid off everything charged in the card except annual fee.

So u ended up paying the annual fee for SC ? Or did they reimbursed back and could use it to offset your usual credit card bill.

 

[ckling]

I have a SC credit card and never used for > 2 years and yet they auto waived off my annual fee which I had never asked to waive.

Weird.

Same for me... Strange,other bank I use a lot still charge

 

[MrClubbie]

Tink my credit score should be good as I pay all my CC bills 5 work days before due date .....

banks prefer customers with credit card debt, or who spend alot using their credit card so they can earn via merchant fees

 

[iamnew]

Never ever apply SC or OCBC card. I have heard enough of horror stories. Annual fee waiver is extremely difficult and stupid SC will make you pay for annual fee before the cancellation.

 

[PaprikaSG]

Same for me... Strange,other bank I use a lot still charge

Ya, especially DBS.

 

[1l92041H]

How could it be. Paid off everything charged in the card except annual fee.

So u ended up paying the annual fee for SC ? Or did they reimbursed back and could use it to offset your usual credit card bill.

I've used cards from all banks before even in the past SCB wasnt like that.

Never ever had to pay annual fees before cancellation before, no banks ever did that. Its such a hassle for everyone. even for the bank themselves.

For a moment I thought what did my relative do for them to aim and tekan him like that,

Now I read the forum, wah lau its exactly what we were put through ****

 

[the.guru]

Seems like the norm now. Or put for show only so that you don't cancel?

https://www.dbs.com.sg/personal/cards/credit-cards/dbs-woman-mastercard-card

If the Card is cancelled within each year of the Principal Cardmember’s Card opening date, the annual fee will be imposed.

https://www.dbs.com.sg/iwov-resources/pdf/cards/altitude-card-tnc.pdf

22. If the Card is cancelled within each Card Year of the Card Account opening date, a fee of S$196.20 (inclusive
of GST) for Principal Cardmembers and S$98.10 (inclusive of GST) for Supplementary Cardmembers where
applicable, will be imposed.

 

[Nevereatrice]

Dunno never kena before

Now that we share our SCB call center experiences .... I see parallels ...... non local CSO maybe trying to make an impression that they are the GOLD standard .. can help the bank make more $$$ by forcing customers to pay! SO next time play hang up when u encounter a non local CSO!!

Yes ... my subsequent call was by a local CSO .... can tell from his accent ..... Ka Ki Lang ..... more empathetic ...
Now I am going to call up the banks and check when is my annual fee due ..... wah scared lah .. if all start charging annual fees within a span of few months ..... i am going to be broke coz I have a couple of cards ....

Sounds legit

 

[Dopod007]

I had the same exp few year ago and got outstanding balance inside. The CS told me can cancel the card only if there no outstanding balance and I had to pay the annual fee in order to enable the card again and make the payment. Heng, I used the card for some of my spending that year can wavie.

Basically, the CS also cannot do anything, card kena disabled. They are low level staff following policy to ask you to pay and enable the cable.

What happens if the outstanding balance is due to just annual fees and we ignored the credit card for 10 years, will they auto cancel?

 

[1l92041H]

What happens if the outstanding balance is due to just annual fees and we ignored the credit card for 10 years, will they auto cancel?

scb will blanjah u CBS score of FFF

 

[zuppeur]

What happens if the outstanding balance is due to just annual fees and we ignored the credit card for 10 years, will they auto cancel?

yr credit rating will up lorry.
every month charge u late fee and finance charge. soon u will be in big debt.

 

[SteamChicken8888]

What happens if the outstanding balance is due to just annual fees and we ignored the credit card for 10 years, will they auto cancel?

Unfortunately, no, you have to request a termination of the card's services else you are still liable for it.

 

[soujiokita]

Want to bring awareness to our fellow readers at HNW.
If anyone is facing the same situation, please feel free to post here.

Disclaimer - I never wrote a single thing about banks in my life so far. but i think this situation is horrible, and it is almost like SC is finally desperate for annual fee money.

:
At the end of May 2024, I received the usual annual fee charges for my Manhattan MasterCard. As per every year, I attempted to apply for a waiver, only to find that the system didn't allow me to submit the request. I called in twice seeking assistance, but both times my appeals were summarily rejected.

The final email response I received from Standard Chartered was: "We seek your understanding that further reviews will not be considered. If you wish to cancel the card, please reply to this email for us to proceed. Kindly note that any pending cashback will be forfeited."

For context, I've been a loyal user of the Manhattan MasterCard for over a decade, YTD already swiped more than $10k. What's more, I've always paid my bills on time.

This treatment leaves me utterly disappointed. Despite my long-standing loyalty, it feels as though Standard Chartered is now desperate for annual fee revenue. It's frustrating to be treated this way, especially when this card is not even a metal card or an AMEX.

 

[Dominum]

Heng moi use AMEX cannot waive annual fee so no problem

 

[Evil_Boss]

people are going to bash me but i think pay annual fee is ok...

is a service that the bank provides using their credit facilities leh.

why should you have an expectation for it to be waived?

u use 10 years or 20 years doesnt make a diff to the bank if you've waived 20 years of annual fee.

plus u paid all your bills on time right? means no interest earned by the bank.

means u use their credit facilities for freem earn cash back also and bank makes nothing from you leh.

if u are a business got this type of customer u want to keep or not?

Want to bring awareness to our fellow readers at HNW.
If anyone is facing the same situation, please feel free to post here.

Disclaimer - I never wrote a single thing about banks in my life so far. but i think this situation is horrible, and it is almost like SC is finally desperate for annual fee money.

:
At the end of May 2024, I received the usual annual fee charges for my Manhattan MasterCard. As per every year, I attempted to apply for a waiver, only to find that the system didn't allow me to submit the request. I called in twice seeking assistance, but both times my appeals were summarily rejected.

The final email response I received from Standard Chartered was: "We seek your understanding that further reviews will not be considered. If you wish to cancel the card, please reply to this email for us to proceed. Kindly note that any pending cashback will be forfeited."

For context, I've been a loyal user of the Manhattan MasterCard for over a decade, YTD already swiped more than $10k. What's more, I've always paid my bills on time.

This treatment leaves me utterly disappointed. Despite my long-standing loyalty, it feels as though Standard Chartered is now desperate for annual fee revenue. It's frustrating to be treated this way, especially when this card is not even a metal card or an AMEX.

 

[Lè Crayons]

Want to bring awareness to our fellow readers at HNW.
If anyone is facing the same situation, please feel free to post here.

Disclaimer - I never wrote a single thing about banks in my life so far. but i think this situation is horrible, and it is almost like SC is finally desperate for annual fee money.

:
At the end of May 2024, I received the usual annual fee charges for my Manhattan MasterCard. As per every year, I attempted to apply for a waiver, only to find that the system didn't allow me to submit the request. I called in twice seeking assistance, but both times my appeals were summarily rejected.

The final email response I received from Standard Chartered was: "We seek your understanding that further reviews will not be considered. If you wish to cancel the card, please reply to this email for us to proceed. Kindly note that any pending cashback will be forfeited."

For context, I've been a loyal user of the Manhattan MasterCard for over a decade, YTD already swiped more than $10k. What's more, I've always paid my bills on time.

This treatment leaves me utterly disappointed. Despite my long-standing loyalty, it feels as though Standard Chartered is now desperate for annual fee revenue. It's frustrating to be treated this way, especially when this card is not even a metal card or an AMEX.

This sounds bad . Do you have to pay the annual fee even if wish to cancel the card?

I don't have a SCB card and thanks for sharing... I won't apply for one.

Banks earn money from retailers each time we swipe the cards... so banks do earn money from us.

 

[wongminmin]

Want to bring awareness to our fellow readers at HNW.
If anyone is facing the same situation, please feel free to post here.

Disclaimer - I never wrote a single thing about banks in my life so far. but i think this situation is horrible, and it is almost like SC is finally desperate for annual fee money.

:
At the end of May 2024, I received the usual annual fee charges for my Manhattan MasterCard. As per every year, I attempted to apply for a waiver, only to find that the system didn't allow me to submit the request. I called in twice seeking assistance, but both times my appeals were summarily rejected.

The final email response I received from Standard Chartered was: "We seek your understanding that further reviews will not be considered. If you wish to cancel the card, please reply to this email for us to proceed. Kindly note that any pending cashback will be forfeited."

For context, I've been a loyal user of the Manhattan MasterCard for over a decade, YTD already swiped more than $10k. What's more, I've always paid my bills on time.

This treatment leaves me utterly disappointed. Despite my long-standing loyalty, it feels as though Standard Chartered is now desperate for annual fee revenue. It's frustrating to be treated this way, especially when this card is not even a metal card or an AMEX.

just pay the balance, cancel and move on.

nth to angry about. they don't value, other banks will welcome chiu.

 

[klarklar]

people are going to bash me but i think pay annual fee is ok...

is a service that the bank provides using their credit facilities leh.

why should you have an expectation for it to be waived?

u use 10 years or 20 years doesnt make a diff to the bank if you've waived 20 years of annual fee.

plus u paid all your bills on time right? means no interest earned by the bank.

means u use their credit facilities for freem earn cash back also and bank makes nothing from you leh.

if u are a business got this type of customer u want to keep or not?

why pay for annual fees when there are other credit cards that are free?

 

[Knightoftheblackrose]

people are going to bash me but i think pay annual fee is ok...

is a service that the bank provides using their credit facilities leh.

why should you have an expectation for it to be waived?

u use 10 years or 20 years doesnt make a diff to the bank if you've waived 20 years of annual fee.

plus u paid all your bills on time right? means no interest earned by the bank.

means u use their credit facilities for freem earn cash back also and bank makes nothing from you leh.

if u are a business got this type of customer u want to keep or not?

Citibank and AMEX treat their customers way much better .

I seldom charge much to my credit cards with these 2 , but they will waive it for me every year .