StanChart halves maximum cashback earned on Spree credit card to S$30

STANDARD Chartered will cap the maximum amount of cashback that can be earned on its Spree Credit Card to S$30 per month from July 12.

Currently, card holders can earn up to 3 per cent cashback on eligible spends, capped at S$60 per month.

On its website, the bank noted that transactions eligible for cashback will be subject to the revised maximum cashback of S$30 per statement month, if the transaction is posted in a statement which begins on or after July 12.

To be sure, transactions made during a statement month that runs from July 11 to Aug 10, for example, will still qualify for the current maximum cashback of S$60.

With leisure travel still a no-go, there has been a rise in sign-ups for cashback credit cards. For more, read The Business Times' personal finance column Money Playbook, out next Monday.