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Standard Chartered Ultimate Credit Card: Is it truly Ultimate?



Standard Chartered Ultimate Credit Card: Truly Ultimate or not, let's check:


The Standard Chartered Ultimate Credit Card is a top-tier card that provides a range of advantages and perks, to its customers. This card offers an interest rate of 3.3% per month a credit limit of up to 20 lakhs and even grants complimentary lounge access at over 1000 airports worldwide. In addition, users can earn reward points on travel, dining, and entertainment expenses while all other purchases earn them 1X reward points. These accumulated reward points can be redeemed for benefits such as air miles, vouchers, cashback, and more. Furthermore, the card also includes insurance benefits like travel accident insurance, airbag loss insurance, and purchase protection insurance. The Standard Chartered Ultimate Credit Card is perfect, for individuals seeking both luxury and cost savings in their expenditures.


 

STANDARD CHARTERED ULTIMATE CREDIT CARD:


  • Joining Fees: Rs 5000+GST

  • Annual Fees: Rs 5000+GST

  • Interest Rate: 3.75% per month, APR of 45.00%.

  • Foreign Currency Markup: 3.5% but we also get a cashback of 1.5% of the transaction fee.

  • Reward Benefit: 2% to 3.3%.

  • Special Feature: No cap on rewards.


 

If you are looking for a premium credit card that offers you a range of benefits and rewards, you might want to consider the Standard Chartered Ultimate Credit Card. This card is designed for high-income earners who want to enjoy exclusive privileges and perks. Here are some of the features and benefits of this card, as well as its pros and cons, and fees and charges.


Features and Benefits:


  • You can earn 5 reward points for every Rs. 150 spent on the card, which can be redeemed for vouchers, merchandise, air miles, or cashback.

  • You can get up to 25% cashback on Uber rides, up to Rs. 600 per month.

  • You can get complimentary access to over 1,000 airport lounges worldwide, with a maximum of four visits per quarter.

  • You can get complimentary golf lessons at select golf courses across India, with a maximum of two lessons per month.

  • You can get complimentary membership to Priority Pass, which gives you access to over 1,200 airport lounges worldwide.

  • You can get a waiver of the 1% fuel surcharge at any petrol pump in India, up to Rs. 200 per month.

  • You can get a 20% discount on dining at over 2,000 restaurants across India, with the Dineout app.

  • You can get a complimentary insurance cover of up to Rs. 10 lahks for air accident death, up to Rs. 5 lahks for medical emergencies abroad, and up to Rs. 9 lakh for baggage loss or delay.


Pros and Cons:

 

Pros:

 

  • The card offers a high reward rate of 3.33%, which is one of the best in the market.

  • The card offers a variety of benefits across travel, dining, entertainment, and lifestyle categories.

  • The card has a low annual fee of Rs. 5,000, which can be waived off if you spend Rs. 10 lakh or more in a year.

 

Cons:

 

  • The card has a high-interest rate of 41.88% per annum, which is higher than the average in the market.

  • The card has a high minimum income requirement of Rs. 2 lakh per month, which makes it inaccessible for many people.

  • The card has a high foreign currency markup fee of 3.5%, which is higher than some other premium cards.


Fees and Charges:

 

  • Annual fee: Rs. 5,000 (waived off if you spend Rs. 10 lakh or more in a year)

  • Joining fee: Rs. 5,000 (waived off if you apply online)

  • Interest rate: 41.88% per annum

  • Cash advance fee: 2.5% of the amount withdrawn or Rs. 300, whichever is higher

  • Late payment fee: Rs. 100 to Rs. 800, depending on the outstanding balance

  • Over limit fee: 2.5% of the over-limit amount or Rs. 500, whichever is higher

  • Foreign currency markup fee: 3.5%.


Conclusion:


The Standard Chartered Ultimate Credit Card is a premium credit card that offers you rewards, travel benefits, golf privileges, and more. However, it also comes with a high joining fee and an annual fee that are not waived. Moreover, it does not offer any insurance or cashback benefits that are common in other premium credit cards. Therefore, you should consider your spending habits, preferences and budget before applying for this card.


Standard Chartered Credit Cards: A Rundown


Standard Chartered Bank offers a diverse range of credit cards in India, catering to different spending habits and lifestyle preferences. Here's a quick overview to help you navigate their offerings:

Card Categories:

  • Rewards Credit Cards: Earn points or cashback on every swipe, redeemable for travel, merchandise, gift vouchers, and more.

  • Examples: Ultimate Credit Card (5 reward points per INR 150 spent), Platinum Rewards Credit Card (5X rewards on dining & fuel), Manhattan Platinum Credit Card (2X miles on international spends).

  • Cashback Credit Cards: Get instant cashback on everyday spending categories like fuel, bill payments, and online transactions.

  • Examples: Super Value Titanium Credit Card (5% cashback on fuel, phone & utility bills), DigiSmart Credit Card (2% cashback on online spends).

  • Travel Credit Cards: Enjoy airport lounge access, travel insurance, and discounts on flights and hotels with these cards.

  • Examples: EaseMyTrip Credit Card (flat discounts on flight & hotel bookings), Priority Visa Infinite Credit Card (unlimited airport lounge access).

  • Co-branded Credit Cards: Partnered with specific brands like airlines, supermarkets, and online platforms for additional benefits.

  • Examples: Zomato Gold Credit Card (exclusive discounts on Zomato orders), Standard Chartered - ICICI Lombard Home Plus Credit Card (discounts on home insurance premiums).


Choosing the Right Card:


To choose the best Standard Chartered credit card for you, consider your:


  • Spending Habits: Analyze your monthly expenditure on different categories like shopping, travel, dining, etc.

  • Budget: Choose a card with an annual fee that aligns with your spending power and the benefits offered.

  • Reward Preferences: Decide if you prefer points, cashback, travel benefits, or specific brand partnerships.

  • Creditworthiness: Check your credit score and apply for cards with eligibility criteria you meet.


FAQs:



  1. What is the validity of the reward points?

  2. Is the 5% cashback applicable on all purchases made at airports?

  3. What is the foreign currency markup on this card?

  4. Can reward points be redeemed for paying card bills?

  5. What are the additional benefits of the Standard Chartered Ultimate Credit Card?

  6. What is the interest rate on the Standard Chartered Ultimate Credit Card? The interest rate on the Standard Chartered Ultimate Credit Card is 41.88% per annum.

  7. What is the minimum income required to apply for the Standard Chartered Ultimate Credit Card?

  8. What is the annual fee for the Standard Chartered Ultimate Credit Card? The annual fee for the Standard Chartered Ultimate Credit Card is INR 5,000.

  9. What is the maximum credit limit on the Standard Chartered Ultimate Credit Card?

  10. What is the eligibility criteria for the Standard Chartered Ultimate Credit Card?

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