I went to Standard Chartered last week to check on their Bonus$aver account. With so many advertisements in bus, MRT, and banner everywhere, I was kind of curious to know what it is all about.
Well, there is not much finding about the Bonus$aver account, apart from what has been advertised – you will get 1.88% p.a for the max of 25K if you spend the minimum of S$ 500 / month in its credit card / debit card. I think I have no issue in meeting the S$ 500 / month (the last time I checked, my average spending is S$ 1000 T__T), but I was wondering if it worth the effort of moving everything from my POSB Everyday credit card to Standard Chartered's. For one, Standard Chartered credit card doesn’t come with EZ Link - it means one more card to carry and auto top up to be setup. For two, it doesn’t come with giro for SP Utilities, leave alone the 1% rebates. For three, it doesn’t have any further rebates / rewards for any spending. With all these limitations, I decided to stick with my current POSB credit card.
Having said all the above, I still signed-up for the Bonus$aver account and 3 Standard Chartered Credit Cards =___= It took the promoter less than 5 minutes to convince me in signing up. Well, I also can’t find any reason not to. After all, even its normal savings interest rate is 2x higher than local bank’s. All the credit cards come with at least 1-year fee waiver. For Bonus$aver, successful applicant will be credited with $100 in the credit card. For every other credit card, it comes with $80 credit. There is no obligation whatsoever or minimum spends to enjoy the credited balance! “Simply used it as per normal and the credited balance will be used to offset your end bill. No expiry also.”, said the promoter. O.O I signed-up for it, but I still feel that there must be something behind all these perks. It’s too good to be true.
Today all the cards arrived and my mailbox was literally jammed. I spend few minutes to open up all the cards and setup the ibanking. To my surprise, the ibanking setup is instant and really straightforward. I’m impressed! The site is also user-friendly. To my further surprise, each of the credit cards really comes with some credit ready to use! O.O I haven’t deposited a single cent and I already have S$340 to use O.O What world is this?? Where is the catch??
Until now, I’m not able to figure out how they make money. Maybe from late payment or other things. If there is no hidden cost – hurry sign up, as the promotion is only valid until end March. Only need to remember to terminate the cards before next year to avoid the membership fee =p
Kind of tempted to close off my DBS :p
ED
Well, there is not much finding about the Bonus$aver account, apart from what has been advertised – you will get 1.88% p.a for the max of 25K if you spend the minimum of S$ 500 / month in its credit card / debit card. I think I have no issue in meeting the S$ 500 / month (the last time I checked, my average spending is S$ 1000 T__T), but I was wondering if it worth the effort of moving everything from my POSB Everyday credit card to Standard Chartered's. For one, Standard Chartered credit card doesn’t come with EZ Link - it means one more card to carry and auto top up to be setup. For two, it doesn’t come with giro for SP Utilities, leave alone the 1% rebates. For three, it doesn’t have any further rebates / rewards for any spending. With all these limitations, I decided to stick with my current POSB credit card.
Having said all the above, I still signed-up for the Bonus$aver account and 3 Standard Chartered Credit Cards =___= It took the promoter less than 5 minutes to convince me in signing up. Well, I also can’t find any reason not to. After all, even its normal savings interest rate is 2x higher than local bank’s. All the credit cards come with at least 1-year fee waiver. For Bonus$aver, successful applicant will be credited with $100 in the credit card. For every other credit card, it comes with $80 credit. There is no obligation whatsoever or minimum spends to enjoy the credited balance! “Simply used it as per normal and the credited balance will be used to offset your end bill. No expiry also.”, said the promoter. O.O I signed-up for it, but I still feel that there must be something behind all these perks. It’s too good to be true.
Today all the cards arrived and my mailbox was literally jammed. I spend few minutes to open up all the cards and setup the ibanking. To my surprise, the ibanking setup is instant and really straightforward. I’m impressed! The site is also user-friendly. To my further surprise, each of the credit cards really comes with some credit ready to use! O.O I haven’t deposited a single cent and I already have S$340 to use O.O What world is this?? Where is the catch??
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| 5 Cards, 1 Cheque Book, and Tons of Vouchers!! |
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| SGD 340 credited to the cards O.O |
Kind of tempted to close off my DBS :p
ED
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