1. Cardholders will enjoy an annual fee waiver on their Cards for a year (beginning from the respective anniversary of the issuance date of their Cards) if they are Priority Banking clients meeting the relevant Minimum Relationship Balance requirement as stipulated by the Bank from time to time. Cardholders are entitled to the above stated annual fee waiver so long as they meet the above stated criteria in the annual fee billing month.

2. Eligible transactions settled by Priority Banking Credit Card (“Eligible Transactions”, which is described further in clause 5 below) by both the Principal Cardholder and Supplementary Cardholder(s) (if any) under the same Priority Banking Credit Card Account (the “Card Account”) will be counted collectively in calculating the 360° Rewards Points (the “Points”).

3. One Point will be awarded for every HK$1 spent under insurance payment. Two Points will be awarded for every HK$1 spent under Local Eligible Transactions. Three Points will be awarded for every $1 spent under Overseas Eligible Transactions.

4. Subject to the provisions below, Points awarded to the Card Account shall be valid for use for at the maximum of 3 years as particularly specified in the relevant monthly statements.

5. Eligible Transactions –

a. include Local Eligible Transactions:

i. Local retail purchase transactions (including Octopus AAVS reload) charged to the Card Account;

ii. Retail purchases transactions to be settled through interest-free monthly instalment service, and the Points for these Eligible Transactions will be awarded to the Card Account monthly only for the instalment amount that is charged to the Card Account during the relevant month; and

b. include Overseas Eligible Transactions:

i. transactions made in any foreign currency but excluding Hong Kong Dollars (based on the currency posted in the credit card statement)

c. do not include:

i. the following transactions or payment items even if they are settled by or charged to the Card Account:

any transfer/top up transaction from Qualified Cards to any account designated by the Bank from time to time, including but not limited to, Octopus Wallet, Alipay account, transactions effected through Faster Payment System or using the FPS Services or services from non card association and other digital payment account as may be made available by the Bank from time to time, bill payment transactions made through Standard Chartered Bank Online Banking, Standard Chartered Bank Phone Banking or JET Payment Service, transactions made at merchants in the gambling and betting, security brokers or dealers, non-financial institutions (including but not limited to the purchase of foreign currency, money orders and travelers cheques), financial institutions (including but not limited to the purchase of merchandise and services from banks, savings and loans, thrifts and credit unions and face-to-face cash disbursement), wire transfer money orders and wholesale purchase of precious stones and metals, watches and jewelry, according to the merchant codes issued by Visa International and MasterCard Asia/ Pacific (Hong Kong) Limited (if applicable) from time-to-time, cash advances, balance transfers, “Instalment Credit” amounts, “Credit-to-Cash” amounts, tax payment, financial charges and fees;

ii. any unposted, cancelled, refunded, falsified or unauthorised transactions.

6. The usage of the Points will be subject to all terms and conditions set out in the Bank’s 360° Rewards Catalogue as amended by the Bank from time to time.

7. In the event that any Point has been used or credited to the Card Account but subsequent to such usage or crediting, the transaction(s) that form(s) part or all of the Points is cancelled or refunded, without prior notice to the Cardholder, the Bank has the right to either debit from the Card Account the same amount of Points used or credited, or if the balance of Points is insufficient, charge to the Card Account a monetary amount equivalent to the value of the Points used or credited.

8. If the Card Account is voluntarily / involuntarily closed, all unredeemed Points and Points not yet credited to the Card Account are immediately forfeited.

9. Notwithstanding the above, to be eligible for the Points, the Card Account must be valid and in good financial standing at the time when the Points are awarded. The Bank reserves the right to refuse to award or honour any Points if the Cardholder fails once or more to pay on or before the relevant due date any Minimum Payment Due specified in a monthly statement of Card Account issued during any period of one year designated by the Bank.

10. The Bank reserves the right to alter or terminate the above 360° Rewards Programme and amend the terms and conditions herein at any time, including, but not limited to, the Points multiplier. In case of disputes, the decision of the Bank shall be final and binding.

11. These Terms and Conditions should be read together with the Client Terms and the applicable documents referred to in Part A of the Client Terms including the Credit Card Terms that form the banking agreement between the Bank and the Cardholders.