Important changes to Credit Card Terms and Conditions

Important changes to Credit Card Terms

From 1 June 2015, our Credit Card Terms have been revised.

Our latest version of Credit Card Terms includes (among other revisions):

360° Rewards Programme	Prudential insurance premium redemption	Singapore Dollar Transactions processed overseas (including via Dynamic Currency Conversion)
You can look forward to discovering new rewards with our revised catalogue.	Conversion rate for Prudential Cardholders to utilise your 360° Rewards Points to offset your Prudential insurance premium payments will be revised.	Applicable charges for MasterCard ^®Credit Cards are revised.
Find out more	Find out more	Find out more

Click here for the latest Credit Card Terms (effective 1 June 2015).

360° Rewards Programme

From 1 June 2015, our 360° Rewards Programme catalogue has been refreshed to include these changes:

An assortment of exciting new rewards has been added.
360° Rewards Points required for redemptions have been revised.
The Singapore Airlines KrisFlyer Programme has been revised based on the table below (for all 360° Rewards Points earning credit cards, except the Standard Chartered Priority Banking Visa Infinite Credit Card).

	Before 1 June 2015	From 1 June 2015
Redemption conversion rate	2,500 points = 1,000 miles	3,500 points = 1,000 miles
Transfer fee per redemption	$25	$15

Prudential insurance premium redemption

From 1 June 2015, the Prudential insurance premium redemption conversion rate has been refreshed to include these changes:

Rewards Points Conversion	Equivalent cash value to pay insurance premiums
Rewards Points Conversion	Before 1 June 2015	From 1 June 2015
First 3,000 points (minimum redemption)	$16.50	$12.00
Subsequent 300 points	$1.65	$1.20

Download the Prudential Insurance Premium Redemption Form and convert your Rewards Points to offset your Prudential insurance premium payments.

Singapore Dollar Transactions processed overseas (including via Dynamic Currency Conversation)

From 1 June 2015, all overseas transactions in Singapore dollars (including via dynamic currency conversion) charged to MasterCard^® Credit Cards will be subjected to a prevailing charge of 1% of the transaction amount, representing the charge imposed by MasterCard International on us.

Dynamic Currency Conversion

If your foreign currency transactions (including overseas and online transactions) are converted into Singapore Dollars via dynamic currency conversion, which is a service offered at selected overseas ATMs, websites or by certain merchants (“DCC”), you acknowledge and agree that the process of conversion and the exchange rate applied will be determined by the relevant DCC service provider and not by us.
In addition, all foreign currency transactions (including overseas and online transactions) converted via DCC will be subject to a prevailing charge of 0.8% of the transaction amount representing the charge imposed by Visa on the transaction or a prevailing charge of 1% of the transaction amount representing the charge imposed by MasterCard on the transaction.

Singapore Dollar Transactions processed overseas

If you enter into Singapore Dollar transactions with: (i) a local merchant that routes its payment processing through an overseas intermediary; or (ii) a merchant that is registered by its acquiring bank (the “Acquirer”) as having been acquired overseas, regardless of where the merchant is actually located, such transactions will be subject to a prevailing charge of 0.8% of the relevant transaction amount representing the charge imposed by Visa on the transaction or a prevailing charge of 1% of the transaction amount representing the charge imposed by MasterCard on the transaction.
In both these cases the transaction is treated as a foreign currency transaction and the process of conversion and the exchange rate applied will be determined by the relevant payment processing intermediary or the Acquirer and not by us.