Well, that escalated quickly.
It’s been just six days since applications opened for the X Card and its 100,000 miles sign up bonus, but SCB is already deciding to call time early on the offer. The end date has been moved up to tomorrow (31 July 2019), one month ahead of the original deadline.
Although the T&C on the X Card’s website have not been updated (they still reference the old 31 August 2019 deadline)…
…the X Card’s landing page prominently displays the new 31 July 2019 deadline.
Until the X Card’s T&Cs are updated, we won’t know whether the 31 July 2019 cutoff date is for applications or approvals. Based on the verbiage of the original T&Cs, I’m inclined to think it’s “approvals”, but your guess is as good as mine.
|Update: Having spoken to various SCB CSOs, I’ve gathered that if you apply by 31 July and get approved by 31 August 2019, you will still be eligible for the 100,000 miles sign up bonus|
Here’s what I’d recommend if you’re uncertain
- If you apply now and get approved before midnight on 31 July 2019, you’re safe
- If you apply now, but your approval comes after midnight on 31 July 2019, you should contact SCB customer service and get them to confirm with you in writing whether or not you’re eligible for the 100,000 miles sign up bonus. If you’re not, do not activate the card. Tell them you want to cancel it, and you won’t be charged the annual fee
The good news is that SCB is clearing its application backlog pretty fast, and most (but not all) people who apply through SingPass MyInfo get instant approval/rejection decisions (I’ve been rejected three times already, for what it’s worth). If you’re thinking of applying now, you should definitely opt for MyInfo.
If you’ve been meaning to apply for the X Card but haven’t done so for whatever reason, you need to pull the trigger now. Say what you will about the mediocrity of the X Card’s other benefits, but a 100,000 miles sign up bonus is something we’ve never seen in Singapore, and I doubt we’ll see again for a long time.
SCB of course has the right to pull the promotion early, but the hasty manner in which it’s doing so feels very knee-jerk, like someone epically miscalculated their sums. It doesn’t take a rocket scientist to see that a 100,000 miles sign up offer is going to be both extremely well received and extremely expensive to fulfill- so wouldn’t it be better to start with a very short deadline and then extend it if needed? This would create a sense of urgency, and help the bank cap its total expenditure.
So I really don’t get SCB’s approach here. It’s not good expectations management, and it makes the whole launch campaign feel a bit fudged- from the “priority waitlist” that wasn’t, to the sudden termination of the X Card’s biggest draw. Oh, to be a fly on the wall at SCB right now…
Do join the SCB X Card discussion group on Telegram to discuss this and other X Card related matters.