Standard Chartered Ultimate Credit Card
Travel
Reward Points
1st Year Fee: ₹5,000* Plus Applicable Taxes
Rewards
3.33% reward rate on all spends
Travel
Low forex markup fee of 2%
Lounge Access
Up to 12 lounge access per year
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About Standard Chartered Ultimate Credit Card
The Standard Chartered Bank Ultimate Credit Card is a premium credit card that offers high value back on various categories such as travel and rewards. This card has a 3.3% rewards rate and allows its users to redeem the points for gift vouchers, which makes it a worthy competitor of several premium credit cards such as HDFC Infinia and HDFC Diners Black Card. The card also provides good travel perks such as 5% cashback on duty-free purchases and a low forex markup fee of 2%. However, even with such premium features around travel, it lacks in offering a very good number of international lounge access. It offers just 12 free lounge access in a year, that too spend-based.
Beyond travel and rewards, the other lifestyle benefits around categories like dining and movies are limited. But the golf feature on the card stands out as a good add-on for a card in this fee range, as most cards with this fee offer no or comparatively limited frequency of golf rounds/lessons. In all, the card offers benefits on selected categories, but whatever category it covers, the return is good. So, if you are a frequent traveler or someone who is interested in higher rewards, this is a good option. Especially if you own another credit card for where this card lacks (other lifestyle categories than golf), this card can be a good addition to your wallet. The real winning factor for this card is its reward program, covering often excluded categories as well like utilities, insurance and education. That way, the reward rate on the card definitely compensates for the limited lifestyle benefits.
Note: This card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit the Standard Chartered Bank website.
Reward Structure:
The card offers a high redemption value of 3.33%, as follows:
- 5 reward points for every Rs. 150 spent1
- 3 reward points for every Rs. 150 spent on utilities, supermarkets, insurance, property management, schools & government payments
- Value of 1 reward point = Rs. 1- Redeemable through the rewards portal of the bank i.e. R360 against products, vouchers, services
- 6,000 bonus reward points worth Rs. 6,000 on card activation
- 5,000 bonus reward points on card renewal2
Travel & Other Lifestyle benefits:
- Forex Markup: Low foreign currency markup of 2% on overseas spends
- Cashback: 5% cashback on duty-free spends (up to Rs. 1,000 per statement cycle)
- Lounge Access Benefits:
- Complimentary Priority Pass membership worth $99
- 1 free lounge visit* per month on spending Rs. 20,000 in the previous billing cycle
- 4 complimentary domestic airport lounges per quarter
- Golf Benefits: 1 complimentary golf game per month across premier golf courses in India.
- Insurance: Air travel accident coverage of up to Rs. 1 Crore and medical insurance worth $25000
Standard Chartered Ultimate : Fees & Charges
| Fee Type | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual Fee | Rs. 5,000 | ||||||||||||||
| Renewal Fee (second year onwards) | Rs. 5,000 | ||||||||||||||
| Finance Charges | 3.75% per month| 45.00% per annum | ||||||||||||||
| Late Payment Charges |
|
Things to Know Before you apply
Get this card if:
You want a card with a high reward rate
You frequently attend golf lessons/coaching
You own another credit card for unlimited lounge access
You want premium-type benefits but not at a very high annual fee
Other Similar Cards:
SBI Card Elite
HDFC Diners Club Black
HDFC Infinia
Paisabazaar Review
What do we like about this card?
At an annual fee of Rs. 5,000, the card offers premium-type benefits around rewards and travel as offered on super-premium cards-high reward rate, low forex markup, discount on duty-free spends. Additionally, to match up with the high-end lifestyle of the elites, it also extends benefits around golf sessions and coaching.
Pros
- Reward rate of 3.33% across all spends
- 1:1 rewards redemption ratio
- 12 complimentary golf games in a year
- Welcome benefit worth the joining fee
- Low forex markup fee of 2.5%
- Benefit on duty-free spends
Cons
- Lounge access is spend-based
- Capping on cashback earning
- Limited lifestyle benefits
Frequently Asked Questions
Everything you need to know about this credit card
Yes, Standard Chartered Ultimate credit card provides the facility of ‘Balance Transfer’ via which you can transfer your outstanding balance on any other bank’s credit card. You can transfer card balance up to Rs. 5 lakh to Standard Chartered Ultimate Credit Card. However, this may vary as per your credit limit.
Yes, all the online transactions are secured with 3D secure OTP verification feature.
Standard Chartered Ultimate credit card charges a low foreign transaction fee of 2%.
The additional benefits offered on Standard Chartered Ultimate credit card include digital payment solutions, online banking, and conversion of transactions above Rs. 5,000 to EMI. Apart from that, the card also offers dial-a-loan facility for a loan up to Rs. 5 Lakh for tenures ranging between 12 to 60 months.
The bonus 6,000 reward points on card activation are credited within 60 days of receiving of joining fee payment by the issuer.
Footnotes
- Exclusions from rewards program: Fuel, cash advances, returned purchases, disputed or unauthorized/fraudulent transactions.
- Bonus points on card renewal are not offered if renewal fee payment is converted into balance on EMI.
Click here to know More Terms and Conditions
Megha Khanna
Megha is an experienced writer with a specialization in credit cards and personal finance. With a keen eye for detail and a passion for helping readers make informed financial choices, she creates engaging content that demystifies the complexities of credit cards, from rewards and benefits to interest rates and fees.
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