Standard Chartered Rewards Credit Card
Product Details
Credit Card Name :
Standard Chartered Rewards Credit Card
Bank Name :
Standard Chartered Bank
Type :
Rewards Credit Card
Interest Rate :
3.75% pm (APR of 45%)
Eligibility :
The applicant should be between 21 and 65 years of age.
The applicant should have a stable monthly income.
The applicant should belong to any of the sourcing locations of the Standard Chartered Bank.
Pros
Reward System: Get 4 rewards on all retail spends per INR 150 spent on credit card. Value of 1 reward point = INR 0.30. Cashback percentage 0.8%. Additionally, 4 reward points per INR 150 on monthly retail spend above INR 20,000 (max. 2000 bonus reward points per statement cycle). 1 reward point for every INR 150 spent on Government and Insurance categories. Govt cashback rate: INR 0.3%.
Special cashback rate above 20,000: 1.6%.
Get complimentary lounge access, 1 per calendar quarter.
Cons
Low rewards on other categories: Only 1x reward point for every INR 150 spent on other categories, which is comparatively low compared to many other credit cards.
Limited bonus categories: Rewards are only significantly boosted for dining and fuel, neglecting other common spending categories like groceries, shopping, or travel.
Foreign currency transaction charges: 3.5% + GST on foreign currency transactions, which can be high compared to some cards offering competitive forex rates.
High late payment fees: Late payment fees are quite high at Rs. 500 + 2.5% of the outstanding balance.
Limited availability: Standard Chartered Rewards Credit Card might not be available in all countries or regions.
Pros & Cons
Welcome Benefits
None
Rewards System
Get 4 rewards on all retail spends per INR 150 spent on credit card.
Value of 1 reward point = INR 0.30.
Cashback percentage 0.8%. Additionally, 4 reward points per INR 150 on monthly retail spend above INR 20,000 (max. 2000 bonus reward points per statement cycle).
1 reward point for every INR 150 spent on Government and Insurance categories. Govt cashback rate: INR 0.3%.
International Forex Markup
Up to: 3.5%
Welcome Benefits and Reward System
Special Features
None
Eligibility Criteria
The applicant should be between 21 and 65 years of age.
The applicant should have a stable monthly income.
The applicant should belong to any of the sourcing locations of the Standard Chartered Bank.
Benefits
4x Reward Points on all retail spends
No monthly cap on rewards
Complimentary lounge access
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online:
Visit the Standard Chartered website and select the credit card you want to apply for.
Click on the "Apply Now" button.
Fill out the online application form.
Submit your application.
Contact Details
6601 4444/3940 4444 (Available between 7:00 a.m. - 11:00 p.m.) 66011500/39401500/1800 425 1000/1800 345 5000 (Available 24x7)
Account Opening and Procedure
Standard Chartered Rewards Credit Card
For people who would rather use their credit card for regular purchases, the Standard Chartered Rewards Credit Card can be a good choice. With this card, you can earn up to 8x Reward Points on your purchases (including the base reward rate and milestone rewards), which translates into significant savings.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
No Joining Fee
Annual Fees: INR 1000 + GST
Cash Advance Charges: ATM withdrawals: 3% of cash withdrawal amount subject to a minimum of Rs. 300.
Interest Rate: 3.75% pm (APR of 45%)
Late Payment Charges: Ranges from Rs. 100 to Rs. 1200.
Foreign Currency Markup Fees: 3.5% transaction fee.
Fuel Surcharge
1% Fuel Surcharge waiver on all fuel spends*
Billing Cycle
30 Days