Standard Chartered annual fee story

[hardwater]

first of all, the bulk of banks' earnings are not from credit cards.

second, it's a free market - customers can switch banks that offer them better services and facilities.

if the bank's reputation is bad, many will stay away.

recommend settle the issue fast before they screw up your credit score by claiming non-payment.

 

[Spectre007]

imagine thinking swiping 10k entitles you to a waiver of annual fee. you pay on time the bank earn nothing from you also.

 

[soujiokita]

I'm writing this because I believe that anyone who owns a credit card and uses it regularly understands that annual fee waivers from banks are common, which often encourages us to keep using the cards indefinitely.

Yes, hardwater is right. Banks primarily earn from merchants through their charges, not the minimal fees they impose on us.

My conclusion regarding my unique situation is that they have effectively phased out the Manhattan card, suggesting that their backend is intentionally attempting to phase out old users like myself.

Because i would like to ask everyone - have you ever been denied an annual fee waiver for cards you've always used?

I'm not writing to express anger; rather, I'm sharing this because I believe it's important for all of us to be aware of which banks are starting to shift their strategies or trying to take advantage of certain customers.

 

[yves]

Got 1 SC card that i sign up long time ago for some FOC Jabra headset, but it never send me any annual fee. Funny also.

 

[sango65]

Annual fee waiver is per bank’s discretion. I last time have AMEX cards also cant waive annual fee. I just cancel the cards and move on, no regrets and hard feelings

 

[soujiokita]

It's pretty interesting that some of you genuinely believe paying an annual fee is standard practice (aside from certain cards explicitly stating that an annual fee waiver is not allowed).

I'm not trying to provoke anyone with this statement, but receiving an annual fee waiver is actually quite common. This is the sole reason they have the self-serve waiver request nowadays
Anyway, my post is just to update whoever keen to read about SC CC. have a nice day

 

[testart]

Why some cc no annual fees?

 

[iCubes]

Because i would like to ask everyone - have you ever been denied an annual fee waiver for cards you've always used?

I'm not writing to express anger; rather, I'm sharing this because I believe it's important for all of us to be aware of which banks are starting to shift their strategies or trying to take advantage of certain customers.

I personally have never been denied a fee wavier but i don't appreciate the effort sometimes in getting them waived. In the past it was much more burdensome, you had to call in to speak to someone.

I also want to point out that fee waivers were never an entitlement, its always expressed upfront in their marketing material that there is an annual fee attached to the card. However, we as consumers get so accustomed to banks waiving fees that we have come to expect it. We may feel entitled to it but I wouldn't disagree with the bank expecting us to pay the fees.

 

[Kunkka]

It's pretty interesting that some of you genuinely believe paying an annual fee is standard practice (aside from certain cards explicitly stating that an annual fee waiver is not allowed).

I'm not trying to provoke anyone with this statement, but receiving an annual fee waiver is actually quite common. This is the sole reason they have the self-serve waiver request nowadays
Anyway, my post is just to update whoever keen to read about SC CC. have a nice day

Even for those card with 400 plus annual fee?

 

[ezpzlemonsqueezy]

Yeah same, they made a whole hoohaa about the annual fee and dont let u cancel until u pay back (even if the card isnt used)

 

[wongminmin]

I'm writing this because I believe that anyone who owns a credit card and uses it regularly understands that annual fee waivers from banks are common, which often encourages us to keep using the cards indefinitely.

Yes, hardwater is right. Banks primarily earn from merchants through their charges, not the minimal fees they impose on us.

My conclusion regarding my unique situation is that they have effectively phased out the Manhattan card, suggesting that their backend is intentionally attempting to phase out old users like myself.

Because i would like to ask everyone - have you ever been denied an annual fee waiver for cards you've always used?

I'm not writing to express anger; rather, I'm sharing this because I believe it's important for all of us to be aware of which banks are starting to shift their strategies or trying to take advantage of certain customers.

all along... they waive the fees.
But until recently, feb 24/oct 23, scb users start complaining no waive for scb cc annual fees...
since this is their decision, so be it if u're not their targeted client.

i myself spent 5k averagely... but still no waive. So i doubt i didn't meet the min spending.

 

[zuppeur]

Annual fee waiver is per bank’s discretion. I last time have AMEX cards also cant waive annual fee. I just cancel the cards and move on, no regrets and hard feelings

sc work differently
from what i read in their fb

suppose sc bill you annual fee in jan. in the month of jan if you have used the card.
SC consider you have enjoy the usage of the card.
then you have to pay the annual fee.

they will reject your waiver. must pay AF then can cancel.

 

[TiedInsurer]

imagine thinking swiping 10k entitles you to a waiver of annual fee. you pay on time the bank earn nothing from you also.

If you swiped $10k, then the bank earned minimum $100 off your spending. The merchants pay it. If the spending is a forex spend, then they earn an additional $350 to $500 in forex fees. You pay this one.

 

[Lè Crayons]

It's pretty interesting that some of you genuinely believe paying an annual fee is standard practice (aside from certain cards explicitly stating that an annual fee waiver is not allowed).

I'm not trying to provoke anyone with this statement, but receiving an annual fee waiver is actually quite common. This is the sole reason they have the self-serve waiver request nowadays
Anyway, my post is just to update whoever keen to read about SC CC. have a nice day

What benefits does the Manhattan card give you?

I have cards which give annual waivers and also cards which upfront states no waivers but provides me with concierge service etc which I am most willing to pay for.

My stand is I am willing to pay for the annual fee if there are benefits to me. If no benefit and it is just like any other cc, I will take my business elsewhere.

 

[soujiokita]

The Manhattan card was one of the first few to offer cashback benefits based on your spending. However, the minimum spending requirement is quite high, like $3,000 and above.

Over the years, several other cards, such as the UOB One Card, have emerged with similar cashback benefits.

Personally, I've stuck with the Manhattan card out of convenience and loyalty to the bank, rather than constantly switching to new cards. But as loyalty doesn't always get you far, just like in life right lol

 

[cai_png27]

Ocbc card waiver dept go into scb ar?

 

[recruit]

Weird. I hold SC cards for so many years they never charge me annual fee before. Sometimes I wonder if somehow my account fell through the cracks. Lol

 

[codexboy]

no need to quarrel woth them, just drop a mail with MAS consumer division in the loop

 

[randyap]

U want to use CC, get those with no annual fee lah. CIMB cards all no annual fees. Standard Chartered Smart no annual fee. HSBC Revolution no annual fee. UOB-Singtel no annual fee if you charge recurring monthly singtel bill to the CC.

makes me wonder why UOB charge $18 annually for debit cards.

 

[Ye_Rongtian]

makes me wonder why UOB charge $18 annually for debit cards.

Because they can and people pay?