If you’re looking for a Super Premium Credit Card that gives rewards on “any” type of spend, then you’ve landed at the right place. In the current scenario where most credit card issuers impose limitations on spending categories, Standard Chartered Ultimate Credit Card comes to rescue not only for those types of spends but also beyond.
Here’s everything you need to know about this infinitely rewarding credit card,
Table of Contents
Overview
| Type | Super Premium Credit Card |
| Reward Rate | 3.3% |
| Annual Fee | 5,000 INR+GST |
| Best for | Voucher redemptions |
| USP | Rewards on all type of spends |
With a reward rate that matches HDFC Infinia and without any redemption limitations, Standard Chartered Ultimate Credit Card is one of the best option for high spenders.
Fees
| Joining Fee | 5,000 INR + GST |
| Welcome Benefit | 6,000 points |
| Renewal Fee | 5,000 INR + GST |
| Renewal Benefit | 5,000 points |
| Renewal Fee waiver | Nil |
The welcome rewards you get is equivalent to the joining fee you pay. It even covers the GST part for that matter for first year but unfortunately not on renewal, as you’ll be short of 1K points.
Anyway, reward points as welcome benefit is a good move compared to the previous welcome benefit that used to give MMT voucher.
Card Design
The card looks pretty good with those golden elements shining on a black background. It looks premium for sure in reality. Moreover, the Mastercard logo adds a nice touch to the overall design.
Rewards
- Reward Rate: 3.3% on most spends
- Rewards expire in: 3 years
As mentioned previously, the USP of the Ultimate card is that it gives rewards on all types of spends irrespective of whether it’s online (or) offline spend. There is no cap whatsoever both for earning and redeeming.
However, SCB has finally come up with revision of rewards on select categories (as below) which will only earn ~2% rewards going forward (eff. 2nd April 2023).
- Select Categories: 2% as rewards
- Rent Payment fee: 1% + GST will be levied additionally
Redemptions
- Redemption type: Vouchers
- Redemption Fee: 99 INR +GST
While we don’t have any “airline/hotel” transfer partners with SC Ultimate credit card as of now, we can redeem points for a long list of vouchers at 1:1 ratio.
Here are some of the vouchers you can expect to redeem using reward points on Standard Chartered Ultimate Credit Card.
- Shopping: Myntra, Nykaa, Pantaloons, Levis, etc
- Electronics: Croma
- OTA: MakeMyTrip, EaseMyTrip
- Hotels: Marriott Hotels, Taj Hotels, ITC Hotels
- Cabs: Uber
- Airline: Vistara Voucher
- Luxury brands like Luxe, Armani, etc.
Note: the voucher brands keeps changing from time to time.
Generally, cardholders redeem points for Croma vouchers, as this is probably the only card that gives pretty good value for shopping electronics. But if you’re into travel, you can explore whole lot of options.
Forex Markup Fee
- Forex Markup Fee: 2%+GST = 2.36%
- Net gain: 0.94%
While its not an outstanding gain, it’s still fine for those who doesn’t have HDFC Infinia or Axis Reserve Credit Cards, as you don’t loose anything for doing foreign currency spends on Standard Chartered Ultimate credit card.
Airport Lounge Access
| ACCESS TYPE | VIA | LIMIT |
|---|---|---|
| Domestic (Primary) | Visa / Mastercard | 4/Qtr |
| International (Primary) | Priority Pass | 1/month |
- Spend criteria for Intl lounge access: 20,000 INR spend in previous month
A true Super Premium Credit Card usually comes with an unlimited lounge access benefit across the globe not only for primary but also for add-on cardholders.
However, with Standard Chartered Ultimate it’s quite limited when it comes to lounge access. Moreover, to enjoy the complimentary international lounge access, a minimum spending requirement has to be met, as mentioned above.
Golf Benefit
- Complimentary Golf Games: 1/month at these Golf courses
- Complimentary Golf Lessons: 1/month at these Golf coaching locations
While above is the inbuilt Golf benefit available on Standard Chartered Ultimate Credit Card, you can also avail additional games & lessons if you’re holding the Mastercard variant of SC Ultimate.
Mastercard World Golf benefit gives you additional 4 golf games per year and 1 golf lesson per month.
Other Benefits
- Duty Free Spends: Get 5% cashback on duty-free transactions at over 1000+ airports across the world, with a max. cashback of 1,000 INR per month.
- Movie Benefit: You can get the Buy1 Get 1 Visa Infinite Offer if you’re holding Visa variant of the SC Ultimate Credit Card.
- Fuel surcharge waiver: 1% waiver & no rewards on fuel spends (eff. 2nd April 2023).
Eligibility
- ITR: 24L p.a.
- Other Bank Credit Card: ~5L Credit Limit
- Existing SC Credit Card: ~4L Credit Limit
The eligibility criteria for the Standard Chartered Ultimate Credit Card may vary from time to time. However, the information above can provide you with an idea of what Standard Chartered bank is typically looking for from a prospective customer.
How to Apply?
You may apply online on Standard Chartered bank website, but chances of rejection is high recently.
So the easiest way to get Standard Chartered Ultimate Credit Card is to first get Standard Chartered Smart Credit Card and then apply for SC Ultimate using the existing credit card relationship with the bank.
You’ll just need to authenticate your existing SC credit card to get 2nd card from Standard Chartered and its just a matter of few clicks.
You’ll however need to be approved for a good credit limit for this to work, which is very much possible if you’ve higher limits on other credit cards.
If the application is stuck and not responding beyond a point, worry not, you’ll likely get a call from backend in a week or two.
If everything fails, the only option left is to open Standard Chartered Priority Savings Account (30L balance) and apply for the card based on the banking relationship.
Bottomline
- Cardexpert Rating: 4.8/5
Standard Chartered Ultimate Credit Card has been one of the best credit cards in India for many years in a row and it continues to shine in 2023 as well.
It certainly remains as a truly Ultimate Credit card in the super premium segment, especially for those who are primarily looking for non-travel reward redemption options on ongoing spends.
Got queries? Get answers to all your questions around credit cards, rewards, airmiles, etc with the One-on-One Credit Card consultation service.
Do you hold Standard Chartered Ultimate Credit Card? Feel free to share your experiences in the comments below.
Do you get rewards on Redgiraffe rent payments?
No known exclusions “as of now”.
How to apply on card to card basis using other bank credit card?
Reward points is a big farce – a publicity stunt – making the card holder a joker. The reward points disappear for no reason. None in the bank is able to explain the reasons for such disappearance. If the bank announces an award, they have no right to withdraw the award without informing the awardee. Overall a cheap publicity stunt
Now that’s interesting. It rarely happens with SCB unless the spends are very high.
Definitely one of the top 5 cards in India with USP being points on all trasactions. Another notable benefit is, the points arent calculated based on chunks of spends like 100 rupees or 150 rupees. every 30 rupees gives 1 point which is even more beneficial
This has been my primary card for last 2 years. Its a no non sense card with straight rewards and redemption options. I have been accumulating points on this instead of Infinia and diners Black as in last 2 years due to covid 19 travel was limited.
Today i got this card!
SC systems are strange. I have been a priority customer for 6 years with decent NRV and ongoing investments and a salary credit every month.
I recently applied for this card via my RM and was rejected. He suggested applying for a lower end card first followed by a request to upgrade. Eventually got SC manhattan with a 2L limit( less than 1 month of salary credit ). God only knows what heuristics SC applies when issuing cards.
Anyways, decided to move out of SC into Kotak. Kotak seems to have a better handle on how to handle HNWI clients.
Siddharth, Can you please help on booking golf lesson on the master card variant. Customer care seems to have no knowledge. Got one concierge number that is not connecting as well. I can book calling master card concierge however as you mentioned ultimate card has it’s golf benefits wants to know how to book that. Also is duty free cashback available on Bengaluru domestic departure as well?
The application gets stuck in “processing” after clicking submit.
I’ve been having the same issue since months. Not sure how others are applying online. Haven’t yet found a solution. Even emailed their customer care and they are clueless. If any work around please inform
Got this card today. Simple steps i followed for C2C –
1. Apply on website. Enter total income 25L (though I don’t have this much)
2. Select other card statement in proofs instead of salary slip
3. Got instant rejection
4. Got a call next morning. I told them I can’t share my payslip. Instead i can send my ICICI card statement with 11L limit.
5. Confirmed my official email id
6. Got my virtual card today
As far as I know, there are no accelerated rewards on this card. This makes it less exciting than HDFC DCB.
This card has been jinxed 😵💫😵💫
Dear client, from 2 Apr’23, your StanChart Ultimate credit card will earn 3 reward points on every INR 150 spent on select categories. Now, enjoy 1% surcharge waiver on fuel transactions. Please note that no reward points will be earned on fuel transactions. Know more: bit.ly/41AlY0n
Unfortunately a sad news of many!
A resurgence of SC Titanium card for fuel.
But rewards on that too is trimmed sometime back isn’t it?
Shykes. That’s so bad. I swear by Stan C ultimate for every spend and with reward rate now revised to 2% , an Amazon icici credit card is a much better card!
Just when I was thinking to dump a couple of cards due to SC Ultimate this came up 🙂
I guess this means it’s not more a no exception card.
1) Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.
2) No reward points will be earned on Fuel transactions. However, you will now enjoy a surcharge waiver of 1% on fuel spends. Fuel surcharge waiver amount will be capped at INR 1000 per month.
Still 2% rewards on these categories is “good” as most others give nothing.
Diners black gives 3.3%
Sir please write about new transfer partners added with HDFC Infinia. Waiting for that article from your side
I guess there is still no capping of reward points on loading of wallets. Also I understand from customer care that lounge access in india and abroad are available to add on card holders too if 20k is spent in the previous month on add in card
Its on rent payment too now
Dear Client,
Thank you for banking with us!
We would like to inform you that effective 2 April, 2023 you will be charged a 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards. For more details, click here
We hope to be of service to you at all times.
Regards,
Standard Chartered Bank
I received my card just today. I got this card just for rent payments. I think it doesn’t make sense to continue with this.
Can I call the bank and block this card without paying joining fee?
I made a payment of 48000, would I get rewards for it if I block it?
Keep the card. Very good card, what if one benefit is reduced/withdrawn?
Not easy to get this card.
I was about to do the same. Good thing I was unable to apply due to their website issues. That leaves us with a vital question ,for Sid-what’s the best card for rental payments now?
I had shifted my spend on school payment to Sc from infinia. Looks like need to use infinia again now. School fees is a major spend in metros.
SBI Cashback gives 5% on education fee payments. I have done quite a number of times from CRED.
The currency exchange rate comes to 4.13% (3.5 plus gst) less 1.5% cash back (no gst benefit ) which is 2.63% and not 2.36% as mentioned.
Even with current changes to the points system, it gives more points than other cards but since March 2022, they have started charging the 99 plus gst on vouchers as well (no matter what evoucher value is obtained). The choices for redemption although appear varied, the actual useful options are very few (jewellery (with exceptions), electronics etc) and keep changing from time to time.
Siddharth, you should create a post on which cards and portals are still best for rent payment? With Infinia, DCB and now SC Ultimate almost negating benefits of rent payment via credit cards, we definitely need some new cards just for rent payments – which for high spenders will be at least 5-6 Lacs annual expense.
So here’s how you can go about it:
1. Find lesser known rent payment service providers, as they don’t report rent MCC
2. Use rent payment apps and pay using wallet/payment gateways that don’t report MCC
There are sweet spots, you’ll have to do a bit of trial and error.
We would like to inform you that effective 2 April, 2023 you will be charged a 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards.
The rent payment from credit card has become so ridiculous that both vendor and credit card company are charging the customer for same transaction.
Why should credit card companies charge customer for making rent payment, why can’t they charge vendors like all other transactions and let vendor recover it from the customer.
Sid it will be good if you review uni nx wave even though it’s rewards are lacklustrous.
But has v good design and LTF
Hehehe Sid, did you just jinxed this card? A day after your recent review (28th Feb), SCB Ultimate came up with these restrictions (1st Mar). Anyways its was bound to happen soon. While I can understand the restricted reward points on most of these categories (because of their heavy abuse), I wonder why have they also included “Supermarkets”?
Also, I hope RedGirraffe now comes up with different merchant category codes (especially for non-rental registrations). For example, apart from rent payment, I also use RedGirraffe for payment of Society Maintenance and School Fees. But I fear these too will be considered as “Rent” based on the blanket MCC of RedGirraffe and unnecessarily will be charged 1% processing fee plus taxes, which would be so unfair.
Lol, felt the same. But ideally bank can’t do such changes in such a short time. Probably it’s bad timing.
Supermarket spends is indeed a surprise. Maybe some were misusing it, else wouldn’t make it to the list.
Siddharth, request you to please analyze DCB rewards and it’s relevance after subsequent devaluations
Don’t worry about RedGirraffe, RG transactions are tracked as insurance spends. Infact we should hope that it doesn’t change. And if you ask their CC, they dont even know whats their MCC.
I asked my bank. It’s 6300 for rentpay
Hi SID,
Please suggest an alternate credit card to Standard Chartered ULTIMATE compared on effective reward rates.
It seems SCB is determined to kill ULTIMATE(ly) which has now lost the edge over its competition with following policy changes topped up with annual renewal cost of Rs. 5000/- + 18% GST and fewer Reward Points Redemption Options in Vouchers.
Effective 2 April, 2023:
1) Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.
2) No reward points will be earned on Fuel transactions. However, you will now enjoy a surcharge waiver of 1% on fuel spends. Fuel surcharge waiver amount will be capped at INR 1000 per month.
3) You will be charged a 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards.
Good that rent services are finally been charged by credit card companies. When they are not realising any income in the money transfer, then why will they give reward points on the same? They are here for business and not offering freebies. Plus there is a need to plug all business transactions from personal credit cards.
Out of context question while everyone worries about the RP – my CC limit on SC is capped at 10k. How do I take it to at least few lakhs? I have to keep refilling it. Also, I’ve never used it for a transaction of over 10k.
I have an Infinia with a 15L limit, a Prestige with a 9L limit and Emeralde with 6L limit.
Hi Siddharth, thanks for so prompt updation.
What’s your advice, is it time to again switch Back to Infinia from SC ultimate.
Awaiting reply sid sir
Tough question with little inputs.
In the latest update there is no mention of Reward points on Wallet load. Does that mean we will still get 3.3% reward on walls t lod txns?
So if I load the Payz app wallet with ultimate card and pay my house rent through red giraffe on Payz app. What will be the net reward rate?
I have been an SC credit card customer for past 12 years and recently upgraded to SC Ultimate. I had done a few EMI transactions and they seem to create a different account called Instabuy account. Even though we purchase through the primary card, the outstanding amount in the statement doesnt reflect the EMIs and we need to do some calculations with the EMI amount from the Instabuy account and then pay them together. I usually pay the outstanding amount shown on the statement, which resulted in huge interest charges. In fact I had checked with customer care before payment and they misguided. Tried to get reversal from SC but no use. I am planning to close the card as their customer service seems to be very bad.
Though at first it (use to) appear as a good card, but in fact it never was. Now, I’d have closed is immediately if I’d be holding one. All the redemption categories are overpriced. Also for vouchers, you’d normally get discount if not using vouchers (eg for Taj you can easily get 14% or more discount (10% copper+4%neu for just for copper, higher tier would get more)) so with this redemption value at best is around 2.8% worst maybe 1.5-2. Now with supermarket/utilities/insurance all big spends out of window, a complete useless card for the target audience. (not to mention pathetic/almost non existent lounge access. 1/month means you can’t use it even for 1 trip which will have at-least 2 legs if within the month.
I don’t see any jewellery voucher options (Tanishq/Joyalukkas etc) for redemption. Any idea if it’s temporary or they have removed these permenantly. With the recent devaluation, if they are removing the jewellery voucher options also, then it’s a big bummer. Any insights on this will be helpful
Maybe they’re out of stock. You’ll have to wait for some time and see. It has happened to me many times. I’d plan on getting a voucher and then it won’t be there. After a while it will be there again. Have seen that happen with Kiehl’s, Nykaa and Mytra Vouchers which I usually go for. Has at times even taken a few weeks to be back in stock.
I did a few transactions on Wallet and rent in March. No reward points credited. I thought that the effective date was 2nd April.
StanC posts the points as soon as the trasaction is posted. But not this time.
Anyone else facing the same issue ?!
Card is being given out quite easily (which is good) as lower category SC cards are getting limit enhancements for existing customers, but reward rate is going down on major categories (which is bad), so the card deserves some amount of rating downgrade. Was considering upgrade from LTF Titanium but dropped the idea, will continue swiping Titanium at fuel pumps.
Fuel being a major spend in metros, what are the best fuel cards now. I used to use SC ultimate but no points on it now. Anyways I am gradually moving all my spends to infinia now.
SC is offering upgrade to Smart Card, and have also offered upgrade to Ultimate. But after the recent devaluation, decided not to go for it. Using SC Super Value Tytanium.