Nerfed: StanChart Smart Introducing Minimum Spend and Adding Annual Fee
Standard Chartered has announced changes to StanChart Smart that effectively nerf the card. From 6th December 2024, minimum spending amounts will be required to unlock higher earn rates on the card. At the same time, the earn rate without a minimum spend requirement will fall from progressively from 6% to 4%, then 0.5% next year.
Also, while the card currently has no annual fee, an annual fee will also be imposed from 6th December 2025 onwards.
StanChart Smart
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Minimum spending required for higher earn rates
StanChart Smart has been offering 6% cashback (or 5.6 miles per dollar) without minimum spend since its introduction a few years ago. While this earn rate is on very specific categories of spend, its earn rate is pretty generous for something without minimum spend.
This will soon change from 6th December 2024, and worsen from 1st April 2025:
| Spend Within Statement Month | On Bonus Categories | Other Eligible Spend |
| Less than S$800 | 4%* | 0.5% |
| S$800 or more | 8% | 0.5% |
| S$1,500 or more | 10% | 1% |
Without minimum spend, the earn rate will go down from 6% to 4% from 6th December 2024 onwards. It will further go down to 0.5% which is practically nothing from 1st April 2025 onwards.
Given that it’s probably very difficult to hit S$800 or S$1,500 of spend on things like public transport, McDonald’s or Netflix within a month, we can call a spade a spade and label this change as a nerf.
Inclusion of more merchants in the bonus categories
The bank has also included more merchants in the different categories, though they don’t seem like spending that can help cardholders hit either S$800 or S$1,500 minimum spend.
Share the card with a few friends who own electric vehicles, perhaps?
| Bonus Categories | Merchants |
| Smart Dining | Existing: McDonald’s, KFC, Burger King, Ya Kun Kaya Toast, Subway and Toast Box New: Starbucks, The Coffee Bean & Tea Leaf, Pizza Hut and Domino’s Pizza |
| Smart Streaming | Existing: Netflix, Spotify, YouTube and Disney+ New: Amazon Prime, Viu, iQiyi and HBO GO |
| Smart Transport | Existing: Bus and MRT commute via SimplyGo New: Electric Vehicle Charging |
New S$99.19 annual fee
StanChart Smart debuted with no annual fee. That will continue for the next 12 months, after which there will be an annual fee of S$91 applicable from 6th December 2024 onwards. The fee is S$99.19 after 9% GST.
You can see more details about this change here.
Alternatives for public transportation?
The list of cards giving decent rewards for public transportation is pretty small, and something that doesn’t have a minimum spend like StanChart Smart is even rarer.
I would probably continue to use my StanChart Smart until I get a round 3,200 points to redeem my last S$10 with the card. After that, my personal pick would probably be Maybank Family & Friends card. It’s a good thing that Maybank recently improved that card, and I was planning to switch my public transportation spend to that anyway.
Maybe a name change is in order
Given that the card is almost useless after the no-minimum spend earn rate drops to 0.5%, it’s probably time we find a suitable name after the nerf kicks in. Any suggestions?
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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