By Rajat Gaur
Updated On August 29, 2022

Standard Chartered launched its Ultimate credit card in September 2017. It is the most premium card issued by the bank as of now. It should be the card of choice for individuals having a high income who want to enjoy an elite lifestyle without compromising with their lavish needs. This card is in direct competition with ICICI Bank Sapphiro credit card and HDFC Bank Infinia credit card Metal Edition. Earlier, the card was being offered in two variants- the Visa Infinite variant and MasterCard World variant; the former has now been discontinued though. Since it’s a premium card, Standard Chartered offers some of the exclusive benefits to its customers like 24×7 concierge service, golf services, Dreamfolks membership, etc, with this card.

Considering all the international travel requirements of its customers in mind, Standard Chartered has also kept the foreign currency exchange rate at 2% (lower than the average fee of 3.5%) and offers 5% cashback on duty-free purchases at airports. As it is a Reward Points-based credit card, you get 5 Rewards on every Rs. 150 spent using this card, which can be redeemed against shopping vouchers or charity spends under the Standard Chartered 360° rewards program.

Standard Chartered Ultimate Credit Card

(4.7/5)

Best Suited For

Travel | Shopping |

Joining Fee

Rs. 5,000

Reward Type

Reward Points |

Product Details

  • Welcome bonus of 6,000 reward points.
  • 5 RPs every time you spend Rs. 150 using the card.
  • 2% foreign currency markup.
  • 5% cashback on duty-free purchases at airports.
  • Complimentary Dreamfolks membership.
  • Airport lounge access at over 1,000 airports around the world.
  • 5,000 Rewards every year on the renewal of card membership.
  • Air accident insurance worth Rs. 1 crore by HDFC EGRO General Insurance.
  • Golf benefits through Golflan Technology Solutions Pvt. Ltd.

Rewards and Benefits

Welcome Benefits

6,000 Rewards redeemable for shopping vouchers or charity spends under the Standard Chartered 360° rewards program.

Movie & Dining

None

Rewards Rate

5 Reward Points on every retail purchase of Rs. 150

Reward Redemption

The earned Rewards are redeemable on the SC online portal under the Standard Chartered 360° rewards program. 1 Reward Point = Re. 1.

Travel

Complimentary Dreamfolks membership with free domestic and international lounge access, and 5% cashback on all duty-free purchases at airports.

Golf

1 Complimentary golf game per month, and 1 free golf coaching session each month.

Domestic Lounge Access

16 domestic lounge access per year (4 every quarter) with the Dreamfolks membership

International Lounge Access

1 complimentary lounge visits per month with the dream folks membership.

Insurance Benefits

Air accidental insurance cover worth Rs. 1 crore, and several travel insurance covers.

Zero Liability Protection

Cardholder won’t be liable for any fraudulent transaction made on their lost/stolen card once the loss of card is reported to the bank.

Fees & Charges

Joining Fee

Rs. 5,000

Renewal Fee

Rs. 5,000

Spend based Waiver

None

Rewards Redemption Fee

Rs. 99

Rewards Redemption Fee

Rs. 99

Foreign Currency Markup

2% (3.5% charged at the time of transaction and 1.5% cashback within 60 days)

Interest Rates

3.75% every month or 45% annually

Fuel Surcharge

1% fuel surcharge is applicable

Cash Advance Charge

3% of the transacted amount, subject to a minimum fee of Rs. 300

Add-on Card Fee

Nil

Standard Chartered Ultimate Credit Card Welcome Benefits:

You get 6,000 Rewards as a joining/welcome benefit. These points can be redeemed for shopping vouchers and charity spends under the 360° rewards program.

Standard Chartered Ultimate Credit Card Rewards:

  • You earn 5 RPs on every Rs. 150 spent on retail purchases using the card.
  • You also get a 5% cashback on purchases from duty-free stores at airports, with maximum cashback capped at Rs. 1,000 every month.
  • No reward points are earned for EMI transactions and transactions that earn you a cashback.

Rewards Redemption:

  • The reward points that you’ve earned can be redeemed against shopping vouchers (from popular brands like Nykaa, Croma, Shoppers Stop, etc.) and charity spends on the Standard Chartered online portal under the 360° rewards program.
  • The value of 1 RP for this card is Re. 1.
  • These earned Rewards expire after 3 years from the accumulation date.

Standard Chartered Ultimate Credit Card Travel Benefits:

  • You get complimentary Dreamfolks membership.
  • You get 16 domestic lounge access every year (i.e, 4 every quarter).
  • You get 1 complimentary international airport lounge visit every calendar month.

Golf Benefits

  • 1 complimentary Golf game every month at selected domestic golf courses.
  • 1 complimentary Golf coaching session at selected domestic golf courses.

Standard Chartered Ultimate Credit Card Concierge Service:

Standard Chartered offers a 24×7 concierge service with this credit card. The concierge will offer you travel assistance (with visa-related information, hotel bookings, etc.), golf course referral and reservation assistance, dining assistance, art/cultural event booking assistance, and some business-related services like conference information, messenger, and courier service.

Standard Chartered Ultimate Credit Card Insurance Benefits:

Category Insurance Coverage
Accidental air death Rs. 1 crore
Emergency medical insurance USD 25,000
Flight hijacking USD 100
Delayed baggage USD 100
Lost baggage/documents USD 750
Flight delay USD 200

Fuel Surcharge:

1% fuel surcharge is applicable (not waived off) at all petrol pumps across India. However, unlike other credit cards, the Standard Chartered Ultimate card earns you reward points (5 points for every Rs. 150) even for fuel purchases.

Standard Chartered Ultimate Credit Card Foreign Currency Markup:

The foreign currency mark-up for transactions using this credit is significantly lower than other cards. Although, you pay a mark-up of 3.5% at the time of the transaction (just like other cards), but you get 1.5% cashback within 60 days of the transaction. So the effective foreign currency mark-up is 2%.

Standard Chartered Ultimate Credit Card Eligibility:

In order to improve the chances of approval for the STandard Chartered Ultimate Credit card, you will need to fulfill certain eligibility criteria, which are as follows:

  • your age must be between 21 and 65 years.
  • you must have a stable source of income (gross monthly income of Rs. 2,00,000).
  • you should have a decent credit score.

How to apply for Standard Chartered Ultimate Credit Card:

You can apply for the SC Ultimate credit card online via the bank’s official website. Once you’ve successfully submitted your digital application, a bank executive will get in touch with you in order to complete the documentation. You will have to submit an ID proof (like an Aadhar card, PAN card, voter card, or any other government-issued ID proof), an address proof, a passport-sized photo of yours, and financial documents like IT return proof (for self-employed individuals) or the latest bank statements/salary slip (for salaried employees). Your card application can also be processed based on your other credit statements.

Customer Care:

If you need any help/assistance, or to report card loss, you can contact Standard Chartered customer care at their call center at 66014444 / 39404444 (prefix STD code) or dial their toll-free helpline number 18003451000. Alternatively, you can also shoot them a mail at [email protected].

Conclusion:

Considering all the benefits that it comes bundled with, the Standard Chartered Ultimate credit card can be a good option for HNIs (High Net-worth Individuals), who travel frequently and want to enjoy a lavish lifestyle as it offers benefits like 16 domestic lounge access, complimentary Dreamfolks membership, cashback on shopping from duty-free stores at airports and an air accident insurance cover. You also get premium benefits like concierge service and golf games and coaching sessions. We think this card offers good competition to HDFC Bank Infinia credit card. What are your views about this card, make sure to let us know in the comment section below. If you’re an existing cardholder, feel free to share your experiences.

FAQs:

The reward points are valid for a period of 3 years from the time of accumulation.

No. The 5% cashback is applicable only on purchases made from the airport’s duty-free stores.

You have to pay a foreign currency mark-up of 3.5% at the time of the transaction, out of which, 1.5% is refunded as cashback within 60 days of transaction. So, the effective foreign currency mark-up is 2%.

No. Reward points can be redeemed only for shopping vouchers or charity spends under the Standard Chartered 360° rewards program.

Yes, you can apply for this credit card based on your other credit card statements.

No. You have to pay a fuel surcharge of 1% at all refill stations across India. However, you do get the regular reward points on fuel purchases as well (which you don’t get on most other credit cards).

2 Comments

  1. Vinay pratap Reply

    Is there any offer of fee waiver on achieving annual milestone

  2. Aditya Seksaria Reply

    Used the card at Kolkata duty free shop on 18th June yet to receive Cashback

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