Standard Chartered Ultimate Credit Card is an excellent top-rated card from Standard Chartered (SC) Bank. This credit card is tailor-made for the life of high-net-worth individuals and offers unique advantages to them. The rewards rate of above 3.% places it in direct opposition with HDFC Bank Infinia and Diners Club Black credit scorecards.
This credit has stunning looks all-black design with text in golden color and is available on the Mastercard platform. Below are all the details about it.
Table of Contents
- Joining and Annual fees
- Welcome Benefits
- Lounge Access
- Other benefits
- Pros and Cons
- Eligibility Criteria
Standard Chartered ultimate credit card Joining and Annual fees
- Joining Fees: Rs.495+ GST
- Annual Fees: Rs.495+GST( Waived off on spending Rs. 40K in previous Year)
- Add On Card: Free
- Welcome Benefits: Rs. 500/- cashback
Joining Fees and Annual fees are not waived off in any case; you need to compulsorily pay renewal fees every year for having this credit card in your wallets.
Standard Chartered Ultimate Credit Card Welcome and Renewal Benefits Benefits
- Rs.10,000 Cashback – on spending at MakeMyTrip for Hotels and Flight Booking
- This offer applies to the First transaction only.
- The cashback amount will be the transaction amount or Rs 10,000 whichever is lower.
- The cashback amount would be credited to the credit card account within 60 days from the date transaction.
- 5,000 reward points worth Rs. 5,000 on payment of renewal Fees.
It’s quite clear that standard chartered banks compensate for the Joining and renewal Fees by offering Welcome benefits and rewards through cashback. However, there is a loss of GST on it.
Standard Chartered Ultimate Credit Card Benefits
- 5 reward points per Rs. 150 spent,
- 1 Rewards points are equal to Rs. 1
- 3.3% reward rate (5/150*100)
- 5% cashback on duty-free outlets
- 2% foreign currency markup# fee on all foreign currency transactions
- Reward points will expire in 3 years from the date of point earning.
The rewards of 3.3 % are better than HDFC Infinia & HDFC Diners Black. However, there is a catch. The Standard chartered rewards catalog is not so excellent. The rewards option fluctuates every day. It would be best if you had a check catalog frequently to have the best rewards option.
Standard Chartered ultimate credit card lounge access
- 4 complimentary domestic airport lounge access per quarter ( 16 Per year)
- MasterCard Lounge program.
- 12 Complimentary Airport Lounge access per year ( One Per Month) through Priority Pass
- These benefits are available for both Primary & Add-on Cardholder)
The idea of pay-based complimentary visits on Priority Pass is not an excellent concept standard chartered follows. I’d instead like it if they had placed it as “yearly” pay with yearly complimentary visits. Limiting to 1/month on such a premium card doesn’t look smart. You can also checklist of best credit cards for Airport Lounge access benefits.
Duty Free Cashback
- 5% cashback on duty-free transactions
- Max cashback of INR 1000 (Rupees Ten Thousand only) per month
- Cash-back is deposited within 30 days of transaction in the credit card account
- Cashback transactions will not earn reward points.
Only transactions where the merchant is registered as a duty-free vendor will be considered for cashback.
Reduced Forex Markup
- All foreign transaction are levied a 3.5% transaction fee
- However, you will get 1.5% cashback on international purchases.
- So-net Forex Markup Fee is 2 % only.
- Cashback will be credited within 60 days from the date of the transaction.
Standard chartered ultimate credit card gives you a default reward rate of 3.3%+ 1.5% cashback on the international transaction, so the Gross rewards rate is ( 3.3%+1.5%)= 4.85%. After deducting Forex Markup fees of 3.5%, the net rewards rate is 1.33 on all foreign expenses. That is great for any premium credit card.
Dineout Plus Programme
You can use a standard chartered ultimate credit card for availing Dineout Plus Programme. Below are all the details.
- 25% discount on food & beverages at the top 650+ restaurants in India
- However, you need to fulfill a specific condition
- You must use your credit card to avail of this offer.
- Offer may not be valid on certain days and Public Holidays.
- Prior reservations are mandatory via the online dining portal at scb.dineout.co.in or e Standard Chartered Ultimate Concierge.
- Check other T&C and List of Restaurant.
Standard Chartered Ultimate Concierge Services
- Hotel Referral and Reservation Assistance
- Flight Information and Ticketing Assistance
- Luxury Car Rental and Limousine Referral and Reservation Assistance
- Airport Limousine Transfer Service
- Airport Meet and Assist Service
- Sightseeing and Destination Recommendations
- Luxury Yacht/Cruise Information and Reservations
- Trainor Rail Information and Ticketing
Under Golfing services Standard Chartered ultimate credit card offers the below services.
- 2 complimentary Golf games per month, per valid Cardholder
- 1 complimentary guest game per month, per legitimate Cardholder
- 1 Complimentary coaching session per month for the Cardholder
- Golf Course Referral and Reservation Assistance
- Golf Lessons Information and Referral Assistance
- Golf Equipment and Apparels
- Golf Events Assistance
- Check the list of Golf Courses and Location
Wine and Dine
Under Wine and Dine services, Standard Chartered ultimate credit card offers the below services.
- Dining Referral and Reservation Assistance
- Private Dining Assistance
- Food Tours Referral and Assistance
- Food Tasting Events Information Service
- Vineyards Information and Referral Services
- Flower and Gift Delivery Assistance
- Jewelry and Watches Referral Assistance
- Arts and Antiques Dealers Information Assistance
- Major Shopping Belts/Locations Information Assistance
- Spa, Fitness Centre and Sports Centre Information and Referral Assistance
Standard Chartered Ultimate Credit Card provides Accidental Death insurance up to Rs. 1 Crore. However, these benefits are applicable only on Overseas Trips.
Pros and Cons of Standard Chartered ultimate credit card
- Default reward rate of 3.3%
- Airport Lounge access for both primary & Add-on Cardholder
- 2 complimentary Golf games per month
- Renewal Benefits
- Limited reward redemption options
- Monthly spends criteria for complimentary lounge access per card
Standard Chartered ultimate credit card Eligibility criteria
Standard Chartered Ultimate Credit Card is a super premium credit card so, the eligibility criteria are also higher side.
- Based on other bank credit cards, if you have a credit card limit above 4.5 lakh.
- Your age should be between 18 to 65 years.
- You should have a stable monthly income.
- It would help if you belonged to credit cards sourcing cities/locations of the Bank.
Standard Chartered Ultimate Credit Card Review in 2021
The default reward rate of 3.3% makes Standard Chartered ultimate credit card a super premium credit card in the industry, the benefits and features of these cards are par with HDFC Bank Infinia credit card. The only disadvantage of this credit is Limited reward redemption options. I would highly recommend you to go for this card if you’re not able to get hold of HDFC Bank Infinia or Diners Club Black credit card.
Do you have a Standard Chartered ultimate credit card, a super premium credit card, or planning for applying the same? Share your thought in the comment box.