This article details the terms, fees, and perks associated with the ICBC Global Travel Credit Card. If asked right at this very moment, how many credit cards would you say you have? The number would probably be around 2-7 cards. All the cards users own are for different purposes and rewards.
That’s how influential credit cards are in the market today. It makes consumers able to make timely payments for products. Basically, without them, card companies wouldn’t be paid, rendering their services useless.
Cards like ICBC Global Travel MasterCard provide the user with a number of rewards on top of their ability to pay for their expenses. To learn more about service, fee and other features of this card, you can read on. Info on the same is listed below.
Benefits And Features Of ICBC Global Travel MasterCard
One of the most interesting parts about this card is the cashback you earn on your spending. First of all, there’s a 1.5% cashback on local spending; that’s unlimited cashback. Then, you have a 3% cashback on all your overseas spending, also unlimited.
There’s also a welcome reward of free Worldwide VIP Lounge Access throughout this year. That affords you access to 12 DragonPass points for railways stations. There are also 6 DragonPass points at major airport lounges. You can bring a partner, though it’s deducted from your points.
Eligibility And How To Apply For ICBC Global Travel MasterCard
For you to get approval for credit cards, there are certain requirements that you should meet. For this ICBC Global card, you have to meet both the age and employment requirements. You have to be 21 years old and earn at least S$30,000 annually.
Supplementary card applicants need to be for a family member of the principal, and the family member needs to be at least 18 years old. You also have to provide documents supporting the same when applying for the card. These are the documents that are required.
- Copy of both sides of NRIC – principal and supplementary
- A computerized copy of you last payslip
- For self-employed persons, they have to produce the last 2 years’ income tax notices
To apply for this card, you can visit the ICBC website and follow the simple application instructions.
Fees And Charges Associated
Like most credit cards in the market, this specific card also has some fees and charges associated with it. Some of the fees are well-known, while others aren’t. To find out more about the said unknown fees, reach out to the bank.
Here are some fees and charges associated with ICBC Global Travel MasterCard.
- Principal annual fee: S$150.00
- Supplementary annual fee: S$75.00
- Minimum Payment is 3% of the monthly balance outstanding, plus any Minimum Payment sum outstanding from the previous Statement, plus amounts in excess of the credit limit, or S$50.00 (SGD Card Account)/ ￥ 50.00 (RMB Card Account)/ US$50.00 (USD Card Account), whichever is higher
- SGD interest rate: 24% per annum
- RMB interest rate: 18.25% per annum
- USD interest rate: 24% per annum
- Non-SGD, and non-USD transaction: The transaction will be converted at the prevailing exchange rates of Mastercard, first to USD then, to SGD
- Non-SGD transaction made using Masterdcards: an administrative fee of 2.5% on the amount converted will be charged
- A cash transactional fee of 1% will be charged on any withdrawals over the counter from the RMB or USD Card Account
- Fee: 5% of amount withdrawn (minimum charge of S$15.00) per transaction
- Balance inquiry fee at Mastercard or ICBC ATM is S$0.80 per transaction outside Singapore
Bank Contact Info & Address
If you must contact someone at the bank, there’s an all-year-round 24/7 customer support line reachable at (212) 238-8208. The bank’s address is No.55 FuXingMenNei Street, Xicheng District, Beijing, P.R.C.
Cashback Special Feature
One of the stands out features about this card is the cashback you earn on your spending. The cashback is also not limited; that’s on top of there being no minimum expenditure to earn the rewards.
With competitive cashback of around 1.5% on local expenditures, this is a rate higher than most offers today. The percentage goes higher when you spend overseas. The cashback in this scenario is at 3% per transaction. Both are unlimited earnings and with no minimum spending.
Finding a card that offers amazing cashback on all your spending is a gift that keeps on giving. It especially provides considering it’s a card that has no minimum requirements to earn the cashback or limit as to how much you can earn. This ICBC Global Travel MasterCard is surely one of the easier cards on the market today, as the rewards are quite straightforward.
Note: There are risks involved when applying for and using a credit card. Consult the bank’s terms and conditions page for more information.