Standard Chartered to reduce Cashback Cap on Grab Rides from May 2018 - from S$50 to S$30

I wrote about the possibility of getting 20% cashback on Grab rides with an eligible Standard Chartered credit card last week and speculated that the arrangement (which was previously forged with Uber prior to the merger) would be extended now that the Grab-Uber merger is on the horizon. While Standard Chartered appears to have extended this promotion up until July 2018, they have lowered the maximum amount of cashback that you can get each calendar month to SGD 30 (from SGD 50). 

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Photo Credit: Standard Chartered

There are many ways to save money on Grab rides by using the right credit card but stacking the right promotions with an eligible Standard Chartered credit card was one of the best ways to do it. The same requirement remains - you will still have to spend a minimum of SGD 900 each calendar month in order to trigger the 20% cashback bonus but since the cap has been lowered to SGD 30, only the first SGD 150 spent on Grab rides will enjoy the 20% cashback (assuming the minimum spend is met each month). Additionally it is worth noting that according to the latest terms and conditions, the maximum Cashback an Eligible Cardholder can receive in a calendar month is capped at $30 regardless of how many Cards he/she uses.