New Launch: Standard Chartered Ultimate Credit Card Review

Standard Chartered Credit cards are recently known for its high approval rate in the industry, but that comes with a downside. Most SC credit card holders i know have very low credit limit, for ex: my friend has 2 SC cards with shared limit of Rs.20k for past 3 years!!

Whatsoever, SC has finally decided to bet on high Annual fee Premium Credit card for HNI & affluent segment with a really catchy design & reward rate. Standard Chartered India on Sep 15th, 2017 launched its “Ultimate” credit card that works on Visa Infinite platform.

• Joining/Renewal Fee: Rs.5000+GST
• Welcome Bonus: Rs.10,000 Cashback
• Renewal Benefits: 5000 Points (Value: Rs.5,000)
• Eligibility: ITR 24L p.a / Existing SC CC limit of Rs.5 Lakhs

I would love to get this card just for its stunning looks. Won’t you?! I hope it looks same as we see on image and not disappoint like Yesbank credit cards. Well, lets dive into the actual benefits.

Welcome Bonus

• Rs.10,000 Cashback – on spending at MakeMyTrip(MMT) Hotels
• This Offer is valid only for the first transaction on MMT.
• The cashback amount will be the transaction amount (or) Rs 10,000 whichever is lower.
• Fulfilment: 60 days from the date of travel/stay.

To avail the Rs.10,000 Cashback, you need to spend Rs.10,000 or more on Makemytrip, on hotels/flights category.

Tip: You can make best use of it when you spend on international hotels or maybe to book high end hotels in India that costs to this level.

Caution:  Ensure that till your first stay is completed & cashback credited to your ac, don’t make any transaction in MMT as it will land you in the trouble. Refer Comment

Reward Points

• 5 reward points on every INR 150 spent (1 Reward Point = Rs.1)

• Reward Rate: 3.3%

That means this card stands in par with HDFC Infinia & HDFC Diners Black. Infact, its better than those two, considering SC has ability to redeem for gift vouchers, including but not limited to Amazon Gift cards (temporary benefit).

Airport Lounge Access

• Domestic: Via Visa infinite – 4 Visits/Qtr
• International: Via Priority Pass – 1 Visit/Month (both primary & Add-on Cardholder)
• Qualifying criteria for Complimentary PP Visits: Rs 20,000 spend in the previous month on the respective credit card.

The concept of spend based complimentary visits on Priority Pass is really a great idea that SC follows. But i would rather wish if they had put it as “yearly” spend with yearly complimentary visits. Limiting to 1/month on such a premium card doesn’t look good.

Other Benefits

• Dine-out Offer: Up to 25% discount* at top 250 restaurants in India
• Hilton Honors Gold status with 4-nights stay / Fast-track
• 2 complimentary Golf games per month & more
• 5% Cashback on duty free spends (not clear)
• Discounts on yQ (Meet & Assist), Hertz & Avis
• All other Visa Infinite Privileges

Dineout Offer & Hilton Benefit seems to be a good one. Everything else just seems to be added just to mention a “benefit” and less of a value. You can also avail Bookmyshow Visa Infinite Program Offer.

How to Get?

You can get SC Ultimate credit card card on card basis, based on your existing credit card from other bank with a minimum available credit limit of 5 Lakhs on it.

• Editor’s Rating: 4.5/5 

Bottom Line

As most premium credit cards are designed for travellers, this falls in same category too. Its a go-to card if you can spend on MMT Hotels, so you can get maximum value out of it. Even if you don’t, you can get good returns due to high reward rate across all spends.

While some benefits are not clear, we might know more in detail in coming days. I’ll keep this article updated as and when i know more. Do follow CardExpert Facebook Fanpage to be notified of any further updates on SC’s Ultimate Credit card.

Whats your take on Standard Chartered’s new Ultimate Credit Card – Like or Dislike? Do share your thoughts in comments below.

Thanks to Shrey for spotting it!