If you are having a difficult time finding a well-rounded credit card, you might want to try your luck with the Standard Chartered Visa Gold Credit Card.
The Visa Gold Credit Card is great for shoppers who seek low APR and reward points. There are also perks for travel enthusiasts. Even better, you can loan your card and borrow money from the bank when needed.
If you are considering getting this card, keep reading to explore its many features. In this article, you can find out more about the Visa Gold Credit Card and also learn how to apply.
Features of the Standard Chartered Credit Card
The Standard Chartered credit card flaunts an 18% APR per annum on cash advances and retail purchases. That’s not all, if you paid the previous outstanding balance by the due date, you can enjoy an extended period of 48 days interest-free period.
Moreover, you can take a loan against your card in case you suddenly need some cash. This loan facility is so easy that you do not even need any documents. Complimentary Travel Insurance Coverage is another interesting feature of this card travelers will cherish.
What’s more, the Standard Chartered Credit Card provides a high level of convenience, especially through the different payment channels.
For instance, you can pay all your routine bills using only your phone. Thanks to Easy Pay, you can also repay medical and banquet transactions in monthly installments.
Pros and Cons of the Standard Chartered Visa Gold Credit Card
360° Rewards Points is the best feature of the Visa Gold Credit Card. This program allows you to earn 1 point for every Rs. 300 you spend. You can redeem your points for shopping, dining experiences, or holidays.
However, redemptions can only be done if you have 5,000 points or more. As you can only redeem in multiples of 5,000, infrequent or budget spenders will not be able to take full advantage of the rewards system.
To be eligible for the Standard Chartered Gold Credit Card, you must be 18 years old or more. You must also be a resident of Sri Lanka, and you must have a valid Sri Lanka mobile number.
Your financial status will also be assessed. If you do not have a minimum monthly before-tax income of Rs 30,000, your application will not be approved. The bank will also check that you are not currently bankrupt.
How to Apply for the Standard Chartered Bank Credit Card
Applying for the Gold Credit Card is quite an easy process. You can apply over the internet by filling out a short application form. Initiate the application by providing basic details, such as name, NIC, mobile number, and city of residence.
Next, you have to specify your salary range and nationality. The form will also have options to include details of other credit cards you hold. If you prepare all of this information beforehand, filling up this form will take just a few minutes.
Interest Rates and Fees
Before you apply, you must find out about the fees and rates associated with this credit card. Below is a list of all the charges that come with the Standard Chartered card.
- Annual fee – Primary Card: Rs. 2,500
- Annual fee – Supplementary Card: Rs. 1,000
- Joining fee – Primary Card: Rs. 500
- Joining fee – Supplementary Card: Rs. 500
- Cash advance fee: Rs. 900
- Late payment fee: Rs. 900
- Over limit fee: Rs. 900
- Interest rate (Retail and Cash Advances): 2% p.m. (24% p.a)
- Interest free period: 48 days
- Minimum amount due: 1% of your retail transaction balance, 100% of fees/ charges/ Interest and 5% of the loan installment balance or Rs. 500 whichever is higher
- Payment due date from statement date: 18 days
- Cash advance % on credit limit (maximum): 50%
If you would like to get in contact with a Standard Chartered representative you can reach them by calling +94 11 2480480. Their head address is No. 37 York St, Colombo, Sri Lanka.
The Standard Chartered Visa Gold Card offers an interesting balance. It is indeed a great card for frequent travelers and shoppers who do not like using multiple credit cards.
Disclaimer: There are risks associated with using any credit product. It is recommended that you read the bank’s terms and conditions to get additional information before agreeing to anything.