If you didn't already know, Standard Chartered was offering a 100,000 sign-up bonus for its Standard Chartered Visa Infinite X Metal Credit Card last month. It has since been revised to (a still awesome) 60,000 miles for application from 1 August 2021 onwards.
In order to get the 100,000 (or 60,000) bonus miles, you will need to 1) pay the card annual fee of $695.50 and 2) spend a minimum of S$6,000 within Two months of card approval date.
If you're reading this article, we will think that the bonus miles has become the only reason you applied for the Standard Chartered Visa Infinite X Metal Credit Card to begin with.
But just because you need to achieve a minimum spending of $6,000 doesn't mean you should just spend frivolously. In this article, we'll list down some of the items which you can look at paying for which may will help you accumulate the $6,000 that you need to obtain the bonus miles.
What Doesn’t Become qualified as Eligible Spending?
Before we believe by what are a few wise ways that we are able to use our credit cards for, let's first make a note of what are some kinds of spending that are not going to be considered as eligible spend.
The list below is obtained from the terms & conditions available on Standard Chartered Bank.
– Insurance premiums
– Bill payments (e.g. telcos, utility bills)
– Payment via AXS
– Payment via SAM
– Bill payment made using SC EasyBill programme
– Payment to government agencies (e.g. LTA, HDB, PUB, IRAS, ICA, MOM, Educational Institution)
– Income tax payment
– Tax refunds
– Ez-Link card, Transit Link transactions,
– CardUp, ipaymy, RentHero
– Any top-ups or payment of funds to any prepaid cards (with exception of EZ-Reload charged to your X Card) and then any prepaid accounts, payment platforms, digital wallets including but not limited to Grab, Singtel, Dash, WorldRemit Singapore, YouTrip or other accounts as the Bank may specific every so often, including without limitation to the following accounts or any other accounts once we may specific from time to time;
The bottom-line here is that if you try to be clever and achieve the minimum $6,000 spend, using a mixture of bill payments, top-ups to your e-wallet in order to pay your income tax utilizing a charge card, you will find yourself set for a major disappointment.
With having said that, here are some items which you can look at spending on.
# 1 Overseas Travel Accommodations
With the 100,000 bonus miles, it's fair to visualize that you simply plan to redeem the miles you obtain for some upcoming overseas holidays. Together with your flights settled, now you can go to make the hotel booking for your preferred destinations, and accumulate some spending on your credit card along the way.
Do note obviously that you simply haven't actually received the miles yet. To make this work, you will have to have some miles currently inside your KrisFlyer account that you can use to redeem for that flights that you want, and to make the reservations that you'll require.
If you're travelling with friends, consider to be the person who books and pays for everyone accommodation first – making use of your Standard Chartered Visa Infinite X Metal Credit Card of course!
# 2 IT Gadgets That You Need
A laptop will set you back about $2,000 while a smartphone could cost you about $1,000. If you already intend to buy either or these two items this season, now could be nearly as good a time as any to create your purchase.
For example, instead of obtaining a subsidised phone plan and also to pay less upfront for the smartphone, while paying higher fee every month for the telco plan subsequently, consider buying your phone without using any phone subsidy and to get a SIM-only planinstead that will help you save money within the long-term.
# 3 Pay Upfront For Your Subscription/Membership Packages
If you've any subscriptions (sports channel, entertainment package) or membership packages (e.g. gym, spa) that you use regularly, consider opting to pay upfront throughout the year, and to obtain a discount for it. This would allow you to pay upfront for a service or perhaps a subscription that you are going to become using anyway throughout the year, helping you achieve the minimum spend you need to make for your credit card. Other items to consider could include items like annual zoo membership passes.
Having asserted, beware of the chance of prepayments. You should only consider paying upfront if this is 1) a vendor that you trust and 2) subscription or membership that you're already using regularly.
# 4 Wedding/Birthday Celebration/Function
If you are organising an upcoming event, for instance a wedding or a birthday celebration, this is an easy way to pay for items that you will paying for anyway. Between booking the venue, catering and gifts that you may purchase, you might locate fairly easily yourself spending greater than a thousand dollar in your event. This might even extend out to events/functions that you're organising with respect to your organization.
# 5 A Large Stash Of Alcohol
If you've just got several hundred dollars left to spend and are not sure what else you ought to be buying, you will want a few wine bottles, champagne and spirits.
It may seem like an unorthodox choice but if you aren't against drinking for health or religious reasons, chances are that you can find a use or two for some of those bottles of wines, champagnes and spirits. You can drink them during end-of-year gatherings, give them away as housewarming gifts or at gift exchange parties, re-sell them on Carousell or just keep it in your shelf if you can't figure out what to do with them yet – because most alcohol especially spirits possess a long shelf-life and don't lose their taste (or value) easily.
Spend Wisely And never Needlessly
The bonus miles you can generate around the Standard Chartered Visa Infinite X Metal Credit Card can make paying for things you have no need for attractive. But because savvy consumers, you want to avoid making the mistake of being penny wise and pound foolish.
So, don't end up paying for needless items which you don't need just to attain the minimum $6,000 spend within Two months. Instead, make the effort to become spending on items that you would have needed to purchase anyway.