Standard Chartered Ultimate Credit Card Review
A flat 3.33% reward rate across most spends, Priority Pass lounge access and monthly golf privileges, with a welcome bonus that effectively offsets the joining fee.
Quick facts
There is no published spend-based waiver, but 6,000 welcome reward points (worth ₹6,000 at ₹1/point) are credited on payment of the joining fee, effectively neutralising the first year's cost.
Fees and reward rates
6,000 Reward Points (worth ₹6,000) credited on payment of the joining fee.
| Charge | Amount |
|---|---|
| Joining fee | ₹5,000 + GST |
| Annual/renewal fee | ₹5,000 + GST (no waiver) |
| Reward redemption fee | ₹99 + GST per redemption request |
| Forex mark-up | 2% of transaction value |
| Cash advance fee | Standard cash transaction charges apply |
| Interest rate | 3.75% per month (45% APR) |
| Spend category | Reward rate |
|---|---|
| Most retail spends | 5 RP per ₹150 (3.33% value-back) |
| Utilities, supermarkets, insurance, property management, schools, government payments | 3 RP per ₹150 |
| Duty-free purchases | 5% cashback, capped at ₹1,000 per statement cycle |
| Rent payments | 1% processing fee applies in addition to standard earn |
What else you get
Complimentary Priority Pass membership for international lounge access
4 complimentary domestic lounge visits every calendar quarter
1 complimentary international lounge visit per month via Priority Pass, conditional on ₹20,000+ spend in the previous month
1 complimentary golf game and 1 golf coaching session every month at participating courses in India
Air travel accident insurance of ₹1 crore and overseas medical insurance of USD 25,000
Convert spends of ₹5,000+ into EMI from 0.99% per month under Kuch Bhi on EMI
Eligibility
| Criteria | Requirement |
|---|---|
| Age | 21 to 65 years |
| Income (salaried) | Around ₹2 lakh per month, evidenced by 3 months' salary slips |
| Income (self-employed) | Assessed individually based on business income and bank statements |
| Credit history | Good credit history; a CIBIL score of 700+ is generally expected |
| Residency | Resident Indian in a Standard Chartered credit card sourcing city |
Standard Chartered issues cards only in its credit-card sourcing cities and runs frequent promotional fee waivers — confirm current city availability and exact fee terms on the official Standard Chartered India website before applying.
Verdict
What works
- 3.33% reward rate rivals cards costing twice as much
- Welcome bonus of 6,000 points largely offsets the joining fee
- Broad reward coverage including utilities, insurance and government payments, which many cards exclude
- One of the lowest forex mark-ups among Indian premium cards at 2%
What to watch for
- No spend-based renewal fee waiver in subsequent years
- International lounge access is capped at once a month and tied to the previous month's spend
- ₹99 redemption fee applies each time you redeem reward points
- High minimum income requirement of around ₹2 lakh a month
FAQs
Is the Standard Chartered Ultimate Credit Card's fee waivable?
How many airport lounge visits does the Ultimate card offer?
What is the reward rate on the Ultimate card?
Is there a fee to redeem Ultimate card reward points?
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