By: OurMoneyGuide || Last updated on: April 22, 2024
The SCB Ultimate Credit Card is a premium credit card offering exclusive benefits and privileges. It offers a competitive reward rate on various kinds of spends, and offers lifestyle benefits like complimentary lounge access & complimentary golf rounds & lessons.
Best for those who like to hold a single card that gives them same benefit rate on all their spending. You get 3.33% benefit rate on all your card spends (except some categories on which you get a lower reward).
Since this is a premium card, you also get lifestyle benefits like complimentary airport lounge access both in India (maximum 4 times per quarter) and abroad (once per month), as well as golf benefits (1 free golf round per month, and 1 free golf lesson per month)
1st year annual fee of ₹ 5,000 is covered by a welcome offer worth ₹ 6000 , renewal fee of ₹5,000 is reversed on payment of fee.
You earn 5 reward points on every ₹150 you spend on your card, meaning 3.33 reward points (worth ₹3.33) on every ₹100 you spend.
1 reward point = ₹1. You can check your rewards points balance and redeem points on the bank’s rewards portal called R360, on a range of exciting offers including products, vouchers, and more. You can access the Rewards platform through the R360 Reward Portal, mobile app or internet banking.
There is no cap on the reward points earned per month on the card. The reward points earned on the card expire after 2 years from the date of earning.
You earn 3 reward points on every ₹150 you spend in this category, meaning 2 reward points (worth ₹2) on every ₹100 you spend in these categories.
1 reward point = ₹1.
You get complimentary Priority Pass membership worth USD 99 per year. The Priority Pass program is one of the leading lounge programs across the world. Click here for the list of lounges.
You get 1 free visit per month, only if the minimum spend in the previous month is ₹20,000, otherwise lounge visits are charged at USD 32 per visit (please check the Priority Pass website for latest charges).
You get free access to domestic airport lounges – upto 16 times per year (maximum 4 visits allowed per quarter).
This program is brought to you by Visa. You are entitled to –
– F&B Privileges : You get a choice of hot and cold snacks from buffet , tea / coffee , unlimited non-alcoholic drinks.
– Other Privileges : Luxurious seating area, washrooms, LCD TV, newspaper / magazines, free Wi-Fi available at select locations.
– Fax, shower, internet and wi-fi charges (where applicable) are at the discretion of each lounge operator and the cardholder is responsible for paying these directly to the lounge staff.
– Please note that additional charge may occur for meal/food/drink items not mentioned in the F&B privileges above as well as for services like Nap, Massage Service and Spa.
Please click here for full details
The Ultimate Golf Programme includes one complimentary golf game and one coaching session per month at domestic golf courses.
– Program is brought to you through Golflan. All bookings need to be made through Golflan
– Advance bookings are required, and cancellations must be made three days in advance. Bookings are subject to availability and at the discretion of golf clubs/instructors.
– Golf courses and coaching facilities may change, and cardholders should refer to the updated list.
– For list of applicable golf courses and all terms and conditions, please look at the last section of the enclosed document – SCB Golflan Golf Program
– You enjoy reduced foreign currency fee of 2%, on the value of all foreign currency transactions
– All overseas transactions are levied with a standard 3.50% transaction fee, out of which 1.50% is given back as cashback, which effectively reduces the forex fees to 2%.
– Cashback will be credited within 60 days from the date of the transaction.
You earn 5% cashback on duty-free spends, on duty free spends of upto ₹20,000 per month (since cashback is restricted to maximum ₹1,000 per monthly card statement cycle). Some other important points to note :
– Cashback is credited to the cardholder’s account within 60 days of the transaction date.
– Cashback transactions do not earn reward points.
– Only transactions with registered duty-free vendors are eligible for cashback.
Air Accident Insurance : The Standard Chartered Ultimate Credit Card provides an accidental air death cover worth ₹1 crore.
Travel Insurance Policy : In case of emergencies during travel, the card offers various kinds of coverage, such as –
– Baggage delay : sum insured of USD 100
– Loss of baggage & personal documents : sum insured of USD 750
– Flight delay : sum insured of USD 200
– Emergency medical expenses : sum insured of USD 25,000
For full details & terms & conditions, refer here.
You get 1% fuel surcharge waiver – on fuel spends upto ₹1 lakh per month (since the waiver amount is capped at ₹1000 , per monthly card statement cycle).
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | ₹5,000 | Welcome offer : You get 6,000 reward points worth ₹6,000, on payment of the joining fees within 60 days of card issuance. |
| Renewal fee from 2nd year onwards | ₹5,000 | Renewal offer : You get 5,000 reward points worth ₹5,000 within 60 days of paying the renewal fees (except if the payment is converted into an EMI balance). |
Late payment fees depends on the total payment due
| Amount Due | Late Fees |
|---|---|
| Less than ₹100 | NIL |
| ₹101 to ₹500 | ₹100 |
| ₹501 to ₹5,000 | ₹500 |
| ₹5,001 to ₹10,000 | ₹700 |
| ₹10,001 to ₹25,000 | ₹800 |
| Over ₹25,000 | ₹1200 |
1% fee on rental payments : There is a processing fee of 1% charged on rental payments
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Stanchart Ultimate Credit Card Fees & Charges
| Minimum age | 21 years |
| Maximum age | 65 years |
| Occupation | Salaried, self-employed |
| Income requirements | Should have a regular source of income , minimum income not specified |
| Credit score | Good credit score, preferably above 750 |
| Place of residence | The individual should be staying at one of the card sourcing locations of the bank |
| Online Application process | The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the Standard Chartered Bank website. You can also visit official website of the bank and fill out the application form. Steps : – The bank’s website and mobile app offer a user-friendly interface that makes the application process quick and easy. – To apply, simply provide your personal details, such as your mobile phone number, income, and PAN number, along with the required documents |
| Offline (face to face) Application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Approval timeline and process | In most cases, the credit card decision would be communicated within 7-15 working days. In certain cases, it could take longer, especially if the bank wants more information and documents from you. Click here to track the status of your Standard Chartered Bank Credit Card application. |
| Required documents | – PAN Card – Identity proof (any One of the following Photo cards): Passport, Voter Id Card, Govt ID, etc. – Address proof (Any One of the following documents with current residence address): Aadhaar Card, Passport, Driving License, Election/Voter’s ID Card, Job card issued by NREGA duly signed by an officer of the State Government, The letter issued by the National Population Register containing details of name, address. – 1 recent passport-sized photograph – Financial documents for salaried: Latest one-month salary slip – Financial documents for self-employed : – Self-employed businessmen : Latest IT Returns with computation of income /certified financials, business continuity proof. – Self-employed professionals: Latest IT Returns, business continuity proof. |
The Standard Chartered Bank Ultimate Credit Card is a good premium card offering competitive reward rates across a range of your spending needs. However a recent change in reward rates esp on supermarket shopping has reduced the attractiveness of the Standard Chartered Ultimate credit card, since once can get better reward rates on shopping on other cards. The card also offers lifestyle benefits like complimentary airport lounge access & complimentary golf.
ON THIS PAGE
FIND THE BEST CREDIT CARD