Trust Cashback card – product terms

Thank you for applying for our newly launched Trust Cashback Credit card (cashback card). We are delighted to have you! 🤗.

Please read these terms carefully🤓 as they tell you about using your cashback card, your responsibilities and other important information. Also don’t forget to read (a) the General Terms and Conditions and (b) the Key Facts Sheet for Trust Cashback card as they also apply.

If you're looking for the product terms for our Trust Link or NTUC Link Credit Card, then please see our Trust Link or NTUC Link Credit Card product terms and Key Facts Sheet.

• If you already have a Trust Link or NTUC Link Credit Card, then you will receive a consolidated card statement. Please see the Key Facts Sheet for Trust Cashback card for more details.

• If your outstanding balance is above your credit limit on the statement date, the amount exceeding your credit limit (excluding any interest or fees) will be added to the minimum amount due.

• If we don’t receive at least the minimum amount due from you on or before the payment due date, we may charge additional fees (such as the late payment fee) and interest, and we may even prevent you from using your cashback card.

• If we don't receive full payment of your statement balance (as shown on your statement) on or before the payment due date, we may charge you interest daily at the interest rate stated in our Key Facts Sheet for Trust Cashback card, demand immediate payment of your outstanding balance or deduct, debit, withhold or transfer your outstanding balance from any of your other Trust accounts.

• We will start charging interest on the unpaid amount of any cash advance you take from the date that you receive the cash advance up to the date it is repaid.

• The benefits made available to you as a cashback customer are not exchangeable or refundable.

• You are liable for all amounts due, even after cancellation of your cashback card. If your cashback card is cancelled for any reason, you must immediately pay us the full amount you owe us, including the outstanding balance, interest and fees, and the amount of any transaction effected (authorised) but not yet charged to your cashback card. Please see the section below on “Your responsibility and liability”.

• Please let us know via our Trust App or call us at (+65) 313-87878 (313-TRUST) if you have any difficulty making cashback card repayments. We will try to help you.

When you apply for a cashback card, you are considered to have requested it. Once we approve your application for a cashback card, we'll tell you, and you may use your cashback card straight away.

All transactions undertaken as a result of any payment arrangements set up or authorised by you (including automatic payments, direct debits, regular payments and other standing arrangements) will be processed as credit card transactions. If you don't agree to process them as credit card transactions, please don't set up or authorise such payment arrangements. If you have such payment arrangements set up or authorised already, please terminate or modify them directly with the relevant third party. Your use of your credit card will be subject to Visa’s legal terms.

We’ll ask you what your preferred credit limit is for your cashback card or obtain your consent for the credit limit to be granted. We’ll confirm your credit limit when your application has been approved. You will be able to spend up to a proportion of your credit limit subject to our internal policy. You may decrease your credit limit from the Trust App. If you already have a Trust Link/ NTUC Link Credit Card, then your maximum credit limit will apply as an overall limit across all your Trust credit cards.

You may be able to apply to increase your credit limit on the Trust App if you are eligible. If you hold a cashback card with a $500 credit limit, you are not eligible to apply for a credit limit increase. We may request additional information from you to review in relation to your application. We’ll notify you of the result of your application once available.

We may conduct a credit check at any time in accordance with our credit policy to decide whether to decrease your credit limit. As part of this process, we may request further documents or information from you. If we decide to decrease your credit limit, we’ll tell you.

If you try to use your cashback card in any way that’ll exceed your credit limit, we may reject the transaction or allow the transaction to be processed in certain situations. Examples of these situations are where the actual transacted amount is higher due to currency rate fluctuations or surcharges by the merchant, or where the transaction was within your credit limit at the time of authorisation but exceeds your credit limit by the time it is posted.

When we calculate if you’ve exceeded your credit limit, we’ll consider your total outstanding balance, any transaction that may have been authorised but hasn’t been debited yet, whether you have exceeded your regulatory credit limit across Standard Chartered and Trust, and any other matter we think is relevant.

You may obtain a cash advance by withdrawing cash using your cashback card at any Trust ATM or Standard Chartered ATM in Singapore, or Visa-accepted ATMs outside Singapore, or at any point of sale (where available).

You may obtain a cash advance up to the available balance of your cash advance limit. Your cash advance limit will never be more, and may be less than, your credit limit. We may lower your cash advance limit in accordance with our credit policy.

You’re telling us to provide you with a cash advance if you use your cashback card to transfer money to any of your other Trust accounts or any other bank account, pay for any cashback card bill or make any payment for a loan owed to us or another bank.

Cashback is awarded only on retail transactions excluding those mentioned below:

• Any cash advance.

• Transactions on your cashback card that are subsequently cancelled, voided, refunded or reversed or incurred by you but aren’t submitted or posted to your cashback card.

• AXS, SAM or ATM transactions made using your cashback card.

• Any insurance premiums.

• Any Instant Loan.

• Any Balance Transfer.

• Any monthly instalment of a split purchase transaction.

• Any fees/recurring payments (for example annual card fees, service fees, interest, administrative fees, finance fees, and/or late payment fees).

• Amounts which have been rolled over from any preceding month’s statement.

• Any top-ups or payment of funds to any accounts.

• Tax refunds credited to your cashback card.

• Any transaction classified under any of the following Merchant Category Codes:

  • Utilities, Rentals and Cleaning Services – 4900, 6513, 7349.

  • Financial Institutions, Securities – Brokers, Quasi Cash, Insurance, Stored Value Card Purchase/Load and Wire Transfer – 4829, 5960, 6010, 6011, 6012, 6051, 6211, 6300, 6540.

  • Gambling – 7995.

  • Educational Institutions – 8211, 8220, 8241, 8244, 8249, 8299.

  • Charitable services, political organisations, religious organisations, and government payments – 8398, 8651, 8661, 9211, 9222, 9223, 9311, 9399, 9402, 9405.

  • Other services – 7299, 7399, 8999.

• Any other transactions, fees or payments as we may decide.

Please note: We may clawback your cashback reward if it remains unused for a period of six (6) months from date of issuance. You will not be entitled to any payment or compensation in respect of such retraction.

You are responsible and liable for:

• All cashback card transactions, including any cash advance (except for disputed transactions, until the dispute is resolved at our discretion).

• Your outstanding balance, including any interest and fees.

• Any transactions where we could have otherwise exercised our chargeback rights (meaning our right to initiate a reversal transaction against the merchant) if you don’t notify us of the transactions and provide any further documents or information, we require within the time required.

If your cashback card is lost or stolen or any security code is disclosed, then you will be responsible for notifying any merchant, establishment, billing organisation or relevant party with whom you have any payment arrangements set up or authorised in connection with your cashback card (including automatic payments, direct debits, regular payments and other standing arrangements) and to stop them. If you recover the lost or stolen cashback card, you must promptly cut it in half and dispose of it.

You must:

• Not use or try to use your cashback card after your account is closed, after we tell you that your cashback card has been cancelled, or after we withdraw your use of your cashback card.

• Cooperate with us in any investigation or litigation in connection with your cashback card.

• Ensure that your cashback card isn't defaced, damaged, bent, modified or tampered with.

You're not responsible and liable for:

• Any use of your physical cashback card before you activate it.

• Any use of a counterfeit card.

• A fault in a terminal which isn't obvious.

Our liability for these losses shall not exceed the amount and interest you incur when you use your cashback card in the circumstances mentioned above.

You must pay at least the minimum amount due shown in each statement by the payment due date shown on the statement to avoid additional fees (such as the late payment fee) and interest. The Key Facts Sheet for Trust Cashback card tells you how we calculate fees and the interest rate we may charge.

You may pay all or part of your outstanding balance at any time by transferring money to us by any method available on the Trust App but only in the currency set out in your statement. If you pay part of your outstanding balance, we’ll apply your payment in the manner we deem fit. If more than one interest rate applies, we will apply your payment on the amount on which the highest interest rate is payable first.

If we receive any payment in any other currency, we may convert such payment into Singapore dollars at the prevailing exchange rate determined by us at the relevant time. You agree to take full responsibility for any loss arising from the currency conversion.

If you pay us any amount more than your outstanding balance, we may:

• Use it to pay off your unbilled transactions.

• Keep it as a credit balance for you, which you can use for future repayments or which we can handle as set out below (see ‘Discretion to handle credit balance in your account’).

• Transfer it to your other Trust accounts (if you have any), including if you make a request by calling us at (+65) 313-87878 (313-TRUST).

We won’t pay you any interest in relation to the excess amount.

To avoid fees and interest, we must receive payment for your statement balance (as shown on your statement) on or before the payment due date. Remember that different payment methods' processing times can vary – you should pay your outstanding balance early to avoid incurring fees and interest.

Details about interest rates and fees, and the calculation methods are in the latest Key Facts Sheet for Trust Cashback card.

The Interest Free Credit Period set out in the Key Facts Sheet for Trust Cashback card won't apply to you if we don't receive the payment of your statement balance in full, on or before the payment due date. The Interest Free Credit Period also does not apply to any cash advance. Therefore, please remember to make payment!

We may demand immediate repayment of any amount you owe us at any time, regardless of whether the amount is set out in a statement, or due and payable as at the date of our demand. We can also deduct, debit, withhold or transfer any amount you owe us from any of your other Trust accounts.

You must ensure that all payments you make are free of any tax or levy, and you must reimburse us for any goods and services tax that we collect on any payment made.

We hope you won’t decide to do so, 😢 but if you want to cancel your cashback card, you must first:

• Repay in full any amount you owe in connection with your cashback card, including interest and fees.

• Settle all transactions.

• Have no unresolved disputed transaction.

• Take any other actions that we consider reasonable, including to comply with any law or regulation.

• Use your earned cashback (if any).

We may publish information about your cashback card in a warning bulletin notifying merchants to seize your cards. We don’t need to notify you or give any reason for doing so.

If your cashback card is cancelled, you must cancel any payment arrangements set up or authorised by you on the cashback card with the relevant third parties (including automatic payments, direct debits, and other regular payments). We aren’t responsible for cancelling or transferring these payment arrangements. We may apply the payment arrangements to your other Trust accounts. If you terminate your cashback card account, then any accumulated cashback will be forfeited, and not transferable to any other account.

If there is any credit balance on your cashback card account, we may transfer any of the credit balance to any of your other Trust accounts after offsetting any outstanding liabilities in connection with your cashback card. We may also pay any of the creditbalance to you by any mode we deem fit.

If you pass away, we may pay your credit balance (if any) on your account to your executor(s) or administrator(s). We do not need to inquireabout any beneficiary’s rights. If we pay any credit balance to your executor(s) or administrator(s) under this clause, this means we’ll have cleared the amount due to you and won’t be liable for the credit balance. However, any accumulated cashback will be forfeited.

Last updated on: 27 August 2024, Version: 5