As a loyal standard chartered business platinum user for the past 3 years, with at least RM15k spending each month (yes I pay a lot of utilities for my business), the recent actions by Standard Chartered have left me and others like me a very bitter taste in our mouth.

First they ridiculously inflated the rewards points since the start of this year, whereas it used to cost 12k reward points for RM50 cashback redemption, it now costs 20k points for RM50 cashback.

Secondly, now they start telling us that effective January 2013, we will stop earning points for every ringgit spent, and lose all cashback benefits and other insurance benefits that come along with the card. So that means starting next year, using the Standchart Business Platinum gives me ZERO benefits. Well, unless I'm using it cos I've maxed out all my other credit cards. LOL