Update 15 September 2021
Standard Chartered has revised their cashback feature from 1% to 0.5% effective 1 Oct 2021. This is a great bummer.
I am always on the lookout for credit cards that can provide me the best cashback deals. I came across Standard Chartered Liverpool FC cashback credit card previously, but it did not appeal to me back then.
Now, however, with their on-going promotions on any top-up to the various e-Wallets available in Malaysia, it seems to be a pretty good deal!
Read also: 5 Things to Consider when Choosing a Credit Card [Malaysian Edition]
Standard Chartered Liverpool FC Cashback
| Pros | Cons |
|---|---|
| ✓ Flat cashback of 0.5% on retail spend (except for petrol and insurance). ✓ Purchase protection for online purchases. ✓ Plenty of on-going promotions. | ✖ Annual fee waiver only for the first year. |
The main purpose I decided to get this card was because of their ongoing promotions on e-Wallet top-ups. As an avid user of e-Wallets and e-Commerce platforms (i.e. Shopee and Lazada), it made sense for me to get this card as I could get more bang for my buck. Cashback on e-Wallet top-ups are something that some cashback credit cards, like Maybank’s 2 Gold Cards do not consider as eligible spend for cashback.
I’ve taken the liberty to consolidate the list of on-going e-Wallet cashback promotions till 31 December 2021 further down below.
Key Features
| Features | Description |
|---|---|
| Cashback | 0.5% cashback on retail spend (except for petrol and insurance transactions) capped at RM50 per month. |
| Purchase protection | Enjoy coverage of up to USD200 for your online purchases with MasterCard e-Commerce Purchase Protection. |
| Balance Transfer Plus | 5.99% interest rate and no one-time upfront handling fee when you transfer over RM1,000 across 12, 18, 24, or 36 months. |
| Easy Payment Plans – FlexiPay Plus | 9.88% interest rate and no one-time upfront handling fee when you spend over RM500 across 6, 9, 12, 18 months. |
| Fees and other charges | – Annual fee – RM175 (first year free); Supplementary card (free) – Sales and service tax – RM25 / card – Minimum monthly payment – RM50 or 5% (whichever is higher) – Late payment fee – RM10 or 1% of outstanding amount (up to a maximum of RM100) – Cash withdrawal fee – RM25 or 5% of withdrawn amount (whichever is higher) – Interest rate on cash withdrawals – 18% |
| Requirements | – Minimum annual income – RM36,000 – Minimum age – 21 to 65 years old – Anybody can apply |
| Retail purchase excludes: (a) Cash advances, cash withdrawals, charges for cash advance of cash withdrawals, annual fees, interest, finance charges, late payments fees, disputed transactions or any other form of service of miscellaneous fees charged by Standard Chartered; (b) Balances products including but not limited to Balance Transfers, Balance Transfer Plus, Cheque on Call, Cheque on Call Plus, Flexi On Payment, Flexi On Payment Plus, Flexi On Balance, Flexi On Balance Plus, Easy Payment Scheme (EPS); (c) Government service tax and any other taxes imposed by law; (d) Government related transactions which include but are not limited to payment of rates, charges, fines to Governmental, statutory and judicial bodies; (e) Charity and organisations related transactions which include but are not limited to payment and contributions to charitable, non-profitable, community or social service organisations; (f) Transactions under Merchant Category Code (MCC) 8999 “Professional Services” which include but are not limited to Jompay transactions, FPX transactions, DuitNow QR transactions and Paypal transactions. Source: Standard Chartered – Client Terms |
How is the cashback calculated?
It’s pretty straightforward! All retail purchases (except for petrol and insurance transactions) are eligible for cashback (capped at RM50 per month). There’s no need minimum spend or cashback by category. Just outright straightforward cashback on your purchases.
To illustrate:
| Category | Monthly Amount Spent | Cashback |
|---|---|---|
| Online shopping (i.e. Uniqlo) | RM500 | RM2.50 |
| Groceries (i.e. Aeon) | RM300 | RM1.50 |
| Dining (i.e. Nandos) | RM300 | RM1.50 |
| E-Wallet top up | RM400 | RM2.00 |
| Petrol | RM200 | RM0.00 |
| Total: | RM1,700 | RM7.50 |
Do note that cash back takes up to 60 days to be reflected in your account. The cash back is not credited directly into your credit card account. It’s credited into a separate reward account (with a separate login portal to boot), called 360° Rewards, whereby you can use your cash back to purchase goods from Standard Chartered’s reward catalog, or redeem the cash back against your credit card account.
It’s the first time I’ve experienced such a complicated cash back system. But still, if it gives you cash back. Why not?
Special eWallet Cashbacks Promotions – till 31 December 2021
| Promos | Cashback / Voucher | Mechanism with your LiverPool FC Cashback |
|---|---|---|
| GrabPay | RM10 Grab merchant voucher | – Top up minimum of RM200. – Valid for first 3,000 transactions a month. – 1 redemption per Grab user per calendar month. – Valid for both new and existing Grab users. |
| GrabFood | RM8 GrabFood voucher | – Minimum of RM50 (excluding delivery) spent on your food order. – Valid for first 1,750 transactions a month. – 2 redemptions per Grab User per calendar month. – Valid for both new and existing Grab users. |
| FavePay | 20% cashback up to RM5 Code: FAVESCB1 | – Valid for first 800 transactions a month. – 2 redemptions per customer per calendar month. – Cashback will be valid for 30 days from issuance date. – Valid for both new and existing Fave users. |
| FaveDeals | 25% cashback up to RM5 Code: FAVESCB2 | – Valid for first 100 transactions a month. – 1 redemption per customer per calendar month. – Cashback will be valid for 30 days from issuance date. – Valid for both new and existing Fave users. |
| Lazada Wallet | RM15 (new user) / RM10 (existing user) | – Top up minimum of RM150. – Cashback will be credited into customer’s wallet within 21 days of top up. – Cashback will be valid for 60 days upon date it was credited. |
| Touch ‘n Go eWallet | RM30 cashback | – Top up minimum of RM200 for 3 consecutive months (latest month to start is before 31 October 2021). – Cashback will be credited into customer’s wallet within 12 weeks of the end of the Campaign period. – Limited to 1000 monthly winners. |
| ShopeePay MasterCard Campaign | RM10 Shopee voucher | – Top up minimum of RM120 on weekends (i.e. Sat / Sun). – Voucher will be credited the following Tuesday. – Limited to 250 users weekly. – Voucher is valid for 6 days upon issuance for checkouts with ShopeePay and Standard Chartered Bank Malaysia Berhad MasterCard only. |
| GrabPay MasterCard campaign (till 30 Nov 2021) | Up to 1,500 points | – First top up of RM50, get 400 points – capped at 820 users per month. – First auto top up of RM100, get 500 points – capped at 1,300 redemptions per month. – Second auto top up of RM100, get 600 points – capped at 850 redemptions per month. |
I have tried and tested the cashback promotions for GrabPay, GrabFood, and ShopeePay. My vouchers and points were credited as stipulated in the mechanism table above.
I’m still in the midst of meeting the requirements for the promotion for Touch ‘n Go eWallet. Will update here once again once it is successful or unsuccessful.
Interested to apply?
Should you decide to get this credit card from Standard Chartered, do check out RinggitPlus’s or CompareHero’s website to see if there are any on-going sign up free gift promotions! It’s always a nice feeling to get a gift just for taking on the card. Do remember to read the terms and conditions on how you can redeem the gift (if any). Some require a minimum spend before you are eligible to claim the free sign up gift.
Questions? Feel free to drop them below.
