Standard Chartered Simply Cash Visa Card: The Best Unlimited Cashback Card?

Standard Chartered Simply Cash Visa Card: The Best Unlimited Cashback Card?

Unlimited Cashback for High Spenders, Boost Overseas

Good for

  • High spenders looking to avoid rebate limits
  • People who want straightforward cashback with no spend requirements
  • Standard Chartered loyalists

Bad for

  • Lower spenders who don't need to worry about cashback caps
  • Consumers who prioritise luxury perks
  • Those seeking a card without a fee or waiver requirements

Editor's Rating

4.5/5.0

Standard Chartered Simply Cash Visa Card is great for high-spenders who are tired of having their rewards limited. Cardholders earn an unlimited 1.5% cashback on local spend, boosted to 2% on transactions made in foreign currencies (both online and in-store). Consumers with monthly budgets above HK$10k can take full advantage of this uncapped rebate. Additionally, cardholders with Standard Chartered Bonus Payroll, Premium or Priority Banking accounts enjoy an annual fee waiver. Altogether, SC Simply Cash Card is perfect for high-spenders looking to earn limitless rewards on all of their spend.

ProsCons
  • Unlimited 2% cashback overseas, 1.5% locally
  • Fee waiver for select SC Banking customers
  • No spend requirements or earnings caps
  • Unltd rebates cater to high-spenders
  • Only SC customers can access fee waiver
  • No luxury perks
Promotions:
  • Earn 25% cashback on 1st HK$4k spend in 1st 2mo
  • Receive HK$100 cashback w/ online banking login in 1st 2mo
Card Overview
Pros:
  • Unlimited 2% cashback on overseas spend, 1.5% locally
  • Fee waiver for Priority & Premium Banking customers
  • No spend requirements or earnings caps
  • Promotions: Earn 25% cashback on 1st HK$4k spend in 1st 2mo
  • Receive HK$100 cashback w/ online banking login in 1st 2mo
Cons:
  • Unltd rebates cater to high-spenders
  • Only SC customers can access fee waiver
  • No luxury perks

What Makes Standard Chartered Simply Cash Visa Card Stand Out

Standard Chartered Simply Cash Visa Card is ideal for those seeking limitless rebates. Cardholders earn an uncapped 1.5% cashback on local spend and 2% cashback on all foreign currency spend (both online and in-store). Since there's no cashback limit, high-spenders earn cashback on every purchase, regardless of how much they've already earned. In fact, consumers with monthly budgets above HK$10k can earn more with SC Simply Cash than with most other cards. Those who spend overseas can accelerate earnings further. While these may not be the absolute highest rebate rates on the market, competitor cards with higher rates often have monthly or annual earnings caps.

Monthly Earnings of Select Cashback Cards at Different Budget Levels

Monthly BudgetHang Seng MPOWERCNCBI Motion PlatinumSC Simply Cash
HK$6kHK$300HK$120HK$97.50
HK$12kHK$450HK$240HK$195
HK$20kHK$500 (cap)HK$400HK$325
HK$28kHK$500 (cap)HK$550 (cap)HK$455
HK$36kHK$500 (cap)HK$550 (cap)HK$585
Assumption of 75% local currency spend, 25% overseas. Assuming spend with Hang Seng MPOWER optimised to max out rebates

However, SC Simply Cash does have a few downsides. Lower spenders who aren't affected by cashback caps can maximise earnings more quickly by choosing a capped card with a higher rate. Additionally, while many other cashback cards have no annual fees or offer easy waivers, SC Simply Cash has an annual fee of HK$2k, which is only waived for Standard Chartered Premium Banking, Priority Banking or Bonus Payroll Account customers. While this is an inconvenience since cardholders will need another financial product to access the waiver, Bonus Payroll Accounts have a monthly salary requirement of just HK$5k, which is very reasonable.

Finally, while SC Simply Cash does offer a boosted rebate on overseas spend, it does not provide luxury perks that high-spending travellers might prioritise, like discounted limo services or free lounge access. Consumers looking for perks or miles rewards should consider other Standard Chartered credit cards that are optimised for frequent travellers.

Eligibility Requirements for SC Premium & Priority Banking Accounts
Premium
  • HK$200k+ average balance
  • Mortgage Acct. w/ HK$1.5m+ mortgage drawdown/outstanding
  • Payroll client w/ HK$20k+/mo salary
PriorityNew Clients
  • HK$1m+ average balance
  • HK$4m+ mortgage outstanding
  • HK$80k+/mo salary
  • Existing Clients
  • HK$1m+ average balance
  • HK$4m+ mortgage outstanding
At least one of each stated requirement per account

Nonetheless, SC Simply Cash Visa Card offers high-spending consumers an easy way to earn straightforward cashback. Altogether, individuals with a budget of at least HK$10k+ per month can earn more in rewards with SC Simply Cash Visa Card than possible with most capped cashback cards.

How Does Standard Chartered Simply Cash Visa Card's Rewards Program Work?

Use our quick guide below to learn how you can redeem your credit card rewards.

  • Cardholders earn rebate in the form of "CashBack"
  • CashBack earned is shown on the 360° Rewards Redemption Platform, and must be transferred to your credit card account from this online platform
  • CashBack can also be redeemed directly for gifts and vouchers via 360° Rewards
  • The minimum redemption amount for CashBack is HK$50 per account

Standard Chartered Simply Cash Card's Features & Benefits:

Card Overview
  • Annual Fee: HKD 2,000, 1-Year Waiver, no fee for Priority Banking, Premium Banking or Bonus Payroll Account customers
  • Income Requirement: HKD 96,000
Rewards Rate Details
  • 2% cashback on foreign currency spend (online and in-store)
  • 1.5% cashback on local currency spend (online and in-store)
Benefits & Perks
  • Visa Signature Privileges & The Good Life Year-Round Offers
Promotions:
  • Earn 25% cashback on 1st HK$4k spend in 1st 2mo
  • Receive HK$100 cashback w/ online banking login in 1st 2mo

Standard Chartered Simply Cash Visa Card's Rewards Exclusions

The following credit card expenditures are ineligible for rewards.

Any transfer/top up transaction from the Card account to any account as designated by the Bank from time to time, including but not limited to, Octopus O! ePay, Alipay account and other digital payment account as may be made available by the Bank from time to time; insurance payments; bill payment transactions made through Standard Chartered Online Banking, Standard Chartered Phone Banking or JET Payment Services; phone order; mail order; wire transfer; cash advances; balance transfers; “Instalment Credit” amounts; “Credit-to-Cash Preferential Annual Rate” amounts; tax payment; financial charges and fees; money orders NOTE: Octopus AAVS Transactions and interest-free monthly instalments are considered eligible transactions
Financial institutions (including but not limited to the purchase of merchandise and services from banks, savings and loans, thrifts, face-to-face cash disbursement and credit unions); transactions made at merchants in the gambling and betting industry; security brokers or dealers; non-financial institutions (including but not limited to the purchase of foreign currency, money orders and travelers cheques)
Wholesale purchase of precious stones and metals, watches and jewelry; other transactions according to the merchant codes issued by Visa International from time-to-time

How does Standard Chartered Simply Cash Visa Card Compare Against Other Cards?

Read our comparisons of Standard Chartered Simply Cash Visa Card with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.

Graph showing some of Hong Kong's best credit cards in terms of value-to-consumer after two years, based on an average monthly spend of HK$12,000
Standard Chartered Simply Cash Visa Card v. Citi Cash Back Card
  • Annual Fee: HKD 1,800
  • Stand-Out: Unltd. cashback with boost for dining, hotels & overseas
  • Read Our Full Review
Citi Cash Back Card is ideal for high spending travellers who frequently dine out. While Citi Cash Back cardholders earn the same 2% cashback overseas as they would with SC Simply Cash, they also earn 2% on local dining and hotel spend. However, since SC Simply Cash provides a higher base rate of 1.5% cashback on local retail spend, consumers with more generalised spend will likely be better off with SC Simply Cash Visa Card.


It's also worth pointing out that Citi Cash Back Card has a HK$1.8k annual fee waived for just 1 year, with no additional waiver available (unlike SC Simply Cash, which offers a waiver opportunity). Altogether, Citi Cash Back is great for consumers with more concentrated dining and hotel spend, while SC Simply Cash is a better option for those with a broader budget.

Standard Chartered Simply Cash Visa Card v. EarnMORE UnionPay Diamond Card
  • Annual Fee: HKD 800
  • Stand-Out: 2% cashback on all spend + 3 free lounge visits
  • Read Our Full Review
EarnMORE UnionPay Diamond Card offers consumers the highest flat cashback rate on the market. Cardholders earn 2% cashback on all spend, while those with SC Simply Cash only earn this high of a rate on overseas purchases. Nonetheless, EarnMORE UnionPay Diamond Card's rebate is limited to HK$2k per year, which is maxed out with about HK$8k monthly spend. Therefore, it may be a better fit for lower-spending consumers as a convenient cashback card. SC Simply Cash, on the other hand, offers unlimited rebates on all spend, which is better for consumers with larger budgets.


EarnMORE UnionPay Diamond Card also offers luxury perks, like up to 3 free lounge visits and discounted limo services–none of which are offered by SC Simply Cash. Ultimately, while EarnMORE UnionPay Diamond Card is better for average spenders who prioritise luxury perks, higher spenders may find themselves capped and would be better off with SC Simply Cash.

Standard Chartered Simply Cash Visa Card v. HSBC Red Credit Card
Frequent online shoppers and those who enjoy cooking at home should definitely consider HSBC Red Credit Card. Cardholders earn 4% online, 2% with supermarkets, and 1% on all other purchases. While both HSBC Red and SC Simply Cash offer unlimited cashback, HSBC Red Card offers significantly higher rebates for online purchases and groceries. In fact, consumers would need to spend more than twice as much online with SC Simply Cash in order to earn the same cashback as they would by shopping online with HSBC Red.


HSBC Red also has no annual fee and doesn't require consumers to hold specific bank accounts in order to access a waiver. All in all, while HSBC Red is ideal for frequent online shoppers and supermarket patrons, SC Simply Cash is better for those with less focused spend.

Standard Chartered Simply Cash v. ICBC Horoscope UnionPay Dual Currency Diamond
  • Annual Fee: HKD 1,000
  • Stand-Out: Unltd. 1.5% flat rebate + lounge & limo perks
  • Read Our Full Review
Frequent travellers seeking flat rebates and convenient perks should consider ICBC Horoscope UnionPay Dual Currency Diamond Card. Cardholders earn an unlimited 1.5% on all spend, which is great for people who want a straightforward card, though this means missing out on the 2% overseas boost offered by SC Simply Cash.


However, ICBC Horoscope does provide travellers with convenient perks like separate billing for HKD and RMB spend, waived foreign currency exchange fees, discounted limo services, and up to 3 free lounge visits per year. Travellers who prioritise such perks may prefer ICBC Horoscope UnionPay Dual Currency Diamond, while those who care more about earning an elevated rate overseas would be better off with SC Simply Cash.

SC Simply Cash Visa Card v. Citi Cash Back Card
  • Annual Fee: HKD 1,800
  • Stand-Out: Unltd. cashback with boost for dining, hotels & overseas
Citi Cash Back Card is ideal for high spending travellers who frequently dine out. While Citi Cash Back cardholders earn the same 2% cashback overseas as they would with SC Simply Cash, they also earn 2% on local dining and hotel spend. However, since SC Simply Cash provides a higher base rate of 1.5% cashback on local retail spend, consumers with more generalised spend will likely be better off with SC Simply Cash Visa Card.


It's also worth pointing out that Citi Cash Back Card has a HK$1.8k annual fee waived for just 1 year, with no additional waiver available (unlike SC Simply Cash, which offers a waiver opportunity). Altogether, Citi Cash Back is great for consumers with more concentrated dining and hotel spend, while SC Simply Cash is a better option for those with a broader budget.

SC Simply Cash Visa Card v. EarnMORE UnionPay Diamond Card
  • Annual Fee: HKD 800
  • Stand-Out: 2% cashback on all spend + 3 free lounge visits
EarnMORE UnionPay Diamond Card offers consumers the highest flat cashback rate on the market. Cardholders earn 2% cashback on all spend, while those with SC Simply Cash only earn this high of a rate on overseas purchases. Nonetheless, EarnMORE UnionPay Diamond Card's rebate is limited to HK$2k per year, which is maxed out with about HK$8k monthly spend. SC Simply Cash, on the other hand, offers unlimited rebates on all spend, which is better for consumers with larger budgets.


EarnMORE UnionPay Diamond Card also offers luxury perks, like up to 3 free lounge visits and discounted limo services–none of which are offered by SC Simply Cash. Ultimately, while EarnMORE UnionPay Diamond Card is better for average spenders who prioritise luxury perks, higher spenders may find themselves capped and would be better off with SC Simply Cash.

SC Simply Cash Visa Card v. HSBC Red Card
  • Annual Fee: Free
  • Stand-Out: Unltd. 4% cashback online, 2% on groceries
Frequent online shoppers and those who enjoy cooking at home should definitely consider HSBC Red Credit Card. Cardholders earn 4% online, 2% with supermarkets, and 1% on all other purchases. While both HSBC Red and SC Simply Cash offer unlimited cashback, HSBC Red Card offers significantly higher rebates for online purchases and groceries. In fact, consumers would need to spend more than twice as much online with SC Simply Cash in order to earn the same cashback as they would by shopping online with HSBC Red.


HSBC Red also has no annual fee and doesn't require consumers to hold specific bank accounts in order to access a waiver. All in all, while HSBC Red is ideal for frequent online shoppers and supermarket patrons, SC Simply Cash is better for those with less focused spend.

SC Simply Cash Visa Card v. ICBC Horoscope UnionPay DC Diamond Card
  • Annual Fee: HKD 1,000
  • Stand-Out: Unltd. 1.5% flat rebate + lounge & limo perks
Frequent travellers seeking flat rebates and convenient perks should consider ICBC Horoscope UnionPay Dual Currency Diamond Card. Cardholders earn an unlimited 1.5% on all spend, which is great for people who want a straightforward card, though this means missing out on the 2% overseas boost offered by SC Simply Cash.


However, ICBC Horoscope does provide travellers with convenient perks like separate billing for HKD and RMB spend, waived foreign currency exchange fees, discounted limo services, and up to 3 free lounge visits per year. Travellers who prioritise such perks may prefer ICBC Horoscope UnionPay Dual Currency Diamond, while those who care more about earning an elevated rate overseas would be better off with SC Simply Cash.

Jacob Weiss

Jacob is a Junior Research Analyst at ValueChampion, focusing on credit cards and other consumer financial products. Previously, he covered hedge funds and long only products for Cambridge Associates. He holds a B.S. in Finance from the University of Maryland and has passed Level 1 of the CFA exam.