Siao liao! Got hit with a credit card annual fee again? Don’t paiseh, you’re not alone. Many Singaporeans are facing the same headache, especially with Standard Chartered (SC) cards. But don’t worry, we’ve dug deep into Reddit to find out how makan kakis are fighting back and winning. Let’s see how you can avoid these fees too!
Makan Kakis’ Key Takeaways (Reddit Insights)
- SC Can Be Problematic: Many Singaporeans find it difficult to waive annual fees with Standard Chartered, unlike other banks like UOB, DBS, Citi, and OCBC.
- Automated Systems Are a Pain: SC’s automated processes make it hard to cancel cards, often requiring payment of the fee first. As one user, DuaLanpa, mentioned, “Their system also makes it such that you cannot just cancel the card, and must clear your balance (pay the fee) to make that happen, since cancelling is only via an automated process.”
- Persistence is Key: Getting through to a real person at SC is tough. Some users report long wait times on the phone or unresponsive live chats.
- App Waivers Are Possible: Some users have successfully waived fees using the SC app’s new feature, but this isn’t consistent for everyone.
- Cancellation is the Ultimate Weapon: If all else fails, many Singaporeans are prepared to cancel their cards to avoid paying fees.
SG Context: The Latest Updates & What It Means For You
Credit card annual fees in Singapore can range from $50 to $500, depending on the card. Banks often offer fee waivers as a perk, especially for high-spending customers. However, banks like SC seem to be making it harder to get those waivers. This means Singaporeans need to be more proactive in managing their credit cards. Recently, more and more Singaporeans are turning to digital banking, which is why app functionality is crucial. The fact that the SC app is not consistently working for fee waivers is a major pain point.
Real Talk from the Ground: Singaporean Experiences on Reddit
For my last 20+ years, I just played hardball with them. Waive the membership fee, or I cancel.
kingkongfly
I experienced the same, there was zero response on the live chat. What worked for me was to call their hotline, and select that you want to report a fraud transaction to get assigned to an agent asap.
the-xyz-plane
SC is the worst
HCR_follower_22
The only way I’ve found to reach a real person on Standard Chartered’s hotline is to select the emergency/lost card/ongoing scam option. Every other option just loops you around their endless phone menu.
grandweapon
These comments highlight the frustration many Singaporeans feel when dealing with SC. Some have tried multiple methods, including the app, live chat, and calling, often with little success. Some have found workarounds, like using the fraud reporting option to get through to a live agent. Others simply cancel their cards if the bank refuses to waive the fee. It’s clear that Singaporeans are not afraid to switch banks if they feel they are not being treated fairly.
Chiong Ah! Your Practical Action Plan for Singaporeans
Okay, here’s what you can do to avoid those pesky credit card annual fees, the Singaporean way:
- Try the App First: Check the SC app (under card management) for the fee waiver option. It might work for you!
- Use the Live Chat (But Be Patient): Try the SC Live Chat, but be prepared to wait. Use an updated browser like Firefox.
- The “Fraud” Hack: If all else fails, call the hotline and select the emergency/fraud option to get a live agent quickly.
- Don’t Pay the Fee if Cancelling: Pay your bills but not the annual fee, then call to cancel. You can also try clawing back fees if you paid them and then cancelled.
- Set a Reminder: Add a recurring event in your calendar to remind yourself to request a waiver before the bill is due.
- Be Prepared to Cancel: If the bank doesn’t waive the fee, don’t be afraid to cancel the card and switch to a bank that values your business.
- Keep Your Credit Score Healthy: A good credit score gives you more leverage when requesting fee waivers.
Don’t let banks bully you with unnecessary fees! By being proactive and using these tips, you can save money and keep your hard-earned cash in your pocket. Jia you, Singapore!