Standard Chartered Ultimate Credit Card
Product Details
Credit Card Name :
Standard Chartered Ultimate Credit Card
Bank Name :
Standard Chartered Bank
Type :
General Credit Card
Interest Rate :
3.75% every month or 45% annually
Eligibility :
Age: Applicant’s age should be between 21 and 65.
Monthly Income: Applicant should have a stable monthly income.
Other Requirements: Applicant should belong to credit cards sourcing cities/locations of the Bank.
Pros
Reward System: Customers can earn 5 reward points per INR 150 spent on all categories except fuel and utility bill payment. 1 RP =INR 1. Effective Cashback Rate: 3.33%.
Travel Benefit: 5% cashback on duty free spends and access to over 1000 airport lounges across the world.
Other Benefits: Complimentary access to premier golf courses in the country. reduced foreign currency markup fee of 2% only.
Cons
Very basic credit card.
Does not provide shopping benefits and rewards.
High joining fees.
Pros & Cons
Welcome Benefits
None
Rewards System
Customers can earn 5 reward points per INR 150 spent on all categories except fuel and utility bill payment.
1 RP =INR 1.
Effective Cashback Rate: 3.33%.
International Forex Markup
IFM: 2%.
Welcome Benefits and Reward System
Special Features
Foreign Currency Mark-up: 2% Foreign currency Mark-up fees (3.5% charged at the time of transaction and 1.5% cashback within 60 days).
Eligibility Criteria
Age: Applicant’s age should be between 21 and 65.
Monthly Income: Applicant should have a stable monthly income.
Other Requirements: Applicant should belong to credit cards sourcing cities/locations of the Bank.
Benefits
Decent effective cashback rate.
Travel and Lifestyle Benefits.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Visit the Standard Chartered credit card webpage [Standard Chartered Credit Cards].
Select the "Ultimate Credit Card" or find it through their comparison tool.
You'll likely find an "Apply Now" option on the card's webpage.
The application process should involve filling out a form with your personal details, income information, and employment details.
Standard Chartered offers Video KYC (verification) which allows you to complete the process virtually from your home.
Contact Details
011-66011500 / 011-39401500
Account Opening and Procedure
Standard Chartered Ultimate Credit Card Review
The card offers a low cashback rate of 3.33%. It offers limited value add benefits. Overall it is suited only for those individuals who undertake frequent international air travel.
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
Joining Fees: INR 5000 + GST.
Interest Rate: 3.75% every month or 45% annually.
Cash Advance Charges: 3% of the transacted amount, subject to a minimum fee of Rs. 300.
Late Payment Charges: Ranges from INR 100 to INR 1300.
International Forex Mark-up fees: 2%.
Reward Redemption Fees: INR 99.
Fuel Surcharge
1% fuel surcharge waiver is applicable. Maximum Rs. 1,000 each month.
Billing Cycle
30 Days