Standard Chartered has recently launched the exclusive Rewards Credit Card, which is targeted at those who prefer making most of their retail purchases using their credit card. The card comes with a zero joining fee and a renewal fee of Rs. 1,000, which can be waived on the basis of your total annual spends in the previous year. Talking about the reward rates of this card, it provides you with an amazing opportunity to earn up to 4x Reward Points on your spends.
Moreover, you earn additional 4x Rewards after achieving the monthly spending milestone. Apart from its reward benefits, the card has exciting privileges across other categories as well. You get free lounge access to selected domestic airport lounges and various other benefits.
To know more about the Standard Chartered Rewards Credit Card, its features, and fees & charges, keep reading:
Standard Chartered Rewards Credit Card
Best Suited For
Movie & Dining
4 Reward Points on every retail spend of Rs. 150, 1 RP on every Rs. 150 spent on government payments and insurance.
1 RP = Re 0.25 for redemption against the Rewards catalog and 1 RP = Re. 0.20 for redemption against the card's statement balance.
Complimentary domestic lounge access every quarter.
Domestic Lounge Access
1 free domestic lounge access every quarter, i.e. 4 per year.
International Lounge Access
Zero Liability Protection
The cardholders are not liable for any fraudulent transactions made against a lost/stolen card if reported to the bank in a timely manner.
Spend Based Waiver
The renewal fee is waived on spending Rs. 3 lakhs or more in the previous year.
Rewards Redemption Fee
Rewards Redemption Fee
Foreign Currency Markup
3.5% of the transaction amount
3.75% per month
1% fuel surcharge waiver on all fuel transactions
Cash Advance Charges
3% of the withdrawn amount subject to a minimum of Rs. 300
Add-on Card Fee
- Earn 4x Reward Points on all retail spends.
- 1x Rewards on insurance and government payments.
- Additional 4x Reward Points on all spends after achieving the monthly milestone.
- Complimentary domestic lounge access every year.
- 1% fuel surcharge waiver on all fuel purchases.
- Spend-based waiver of the renewal fee.
Standard Chartered Rewards Credit Cards Features and Benefits
The newly launched SC Rewards Credit Card is primarily targeted at those who love shopping and make the most of their purchases using their credit cards. However, the card has lots of other benefits as well. The following are its most significant features:
- After achieving a monthly milestone spend of Rs. 20,000 (on retail purchases), the cardholders would be eligible to earn 4x bonus Reward Points on all their retail spends.
- You can earn a maximum of 2,000 bonus Reward Points every month.
With the Standard Chartered Rewards Credit Card, you also get 1 complimentary domestic lounge access every quarter, i.e. 4 free visits per year.
Fuel Surcharge Waiver
You get a 1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 2,000. The maximum waiver per month is capped at Rs. 400.
The renewal fee of Rs. 1,000 is waived if the cardholder spends Rs. 3 lakhs or more in the previous anniversary year.
SC Rewards Credit Card Reward Points
The reward rates offered by the Standard Chartered Reward Credit Card are as follows:
- You get 4 Reward Points on every spend of Rs. 150 on retail purchases.
- You get 1 Reward Point on every spend of Rs. 150 on government and insurance categories.
- You don’t earn any reward points on fuel purchases and cash withdrawals.
The Reward points earned using the StanChart Rewards Credit card can be redeemed against various options as mentioned below:
- For redemption against the products and vouchers available on the Rewards catalog, 1 Reward Point = Re. 0.25.
- For redemption against the card’s statement balance, 1 Reward Point = Re. 0.20.
Standard Chartered Rewards Credit Card Fees and Charges
Some of the very important fees and charges associated with the Standard Chartered Bank Rewards Credit Card are as follows:
- There is no joining fee, but there is a renewal fee of Rs. 1,000 plus applicable taxes, which is charged from the second year. The renewal fee is waived on spending Rs. 3 lakhs or more in the previous year.
- The interest rate on the SC Rewards Credit Card is 3.75% per month.
- The cash advance fee on this credit card is 3% of the cash amount or a minimum of Rs. 300.
- The foreign currency markup fee on the Standard Chartered Rewards Credit Card is 3.5% of the total transaction amount.
SC Rewards Credit Card Eligibility Criteria
There are certain eligibility criteria that need to be fulfilled in order to get approved for a particular credit card. For the Standard Chartered Rewards Credit card, there are a few basic requirements as given below:
- The age of applicants should be between 18 years and 65 years.
- The applicant should have a stable monthly income.
- The applicant should belong to any of the sourcing locations of the Standard Chartered Bank.
The documents required o apply for the Standard Chartered Rewards Credit Card are listed below:
- An Identity Proof, such as Voter’s Id, Passport, or any other government-approved Id.
- PAN Card.
- Passport-sized photograph.
- An address proof, such as an Identity Proof, utility bills, passport, driving license, voter’s Id, etc.
How To Apply For The SC Rewards Credit Card?
If you want to apply for the Standard Chartered Rewards Credit Card, you can do it online or offline at your convenience. To apply offline, make sure that there is a Standard Chartered Bank branch available in your city. Just visit the branch nearest to you and apply for the card by filling out the physical application form. Just make sure that you carry all the necessary documents along with you.
To apply online, follow the below-mentioned steps:
- Click on the Apply Now button on top of the page
- Choose the ‘Rewards Credit Card.’
- Click on apply now and proceed further by filling in all the required details.
- Submit the application form once completed.
The SC Rewards Credit Card can be considered a suitable option for those who prefer to make everyday purchases using their credit card. You can save a lot using this card as it allows you to earn up to 8x Reward Points on your spends (including the base reward rate and milestone rewards).
With the launch of this credit card, Standard Chartered Bank gives direct competition to other reward credit cards in the market, such as YES Prosperity Rewards Credit Card, Citibank Rewards Credit Card, SBI SimplySave Credit Card, etc. If you are looking for a basic credit card with a good reward rate and affordable fee, you must check out the features of the SC Rewards Credit Card and apply for it if it seems to be a good fit.
What are your views on this credit card? Make sire to let us know in the comment section below!
Yes, the Reward Points earned using the SC Rewards Credit Card are redeemable against the card’s statement balance at a rate of 1 Reward Point = Re. 0.20.
No, the SC Rewards Credit Card is not lifetime free. It has no joining fee, but there is an annual fee of Rs. 1,000.
The minimum eligible age to apply for this credit card is 18 years for primary as well as supplementary credit cards.
Yes, you get 1 complimentary domestic lounge access every quarter with this credit card.