By: OurMoneyGuide || Last updated on: May 30, 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.

Brief Summary

Our Rating

4.0/5

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 ₹5000 is covered by a welcome offer worth ₹6000. Renewal fee of ₹5000 is compensated by award of 5000 reward points worth ₹5000, on payment of fee.

Pros & Cons of Standard Chartered Ultimate Credit Card

Pros

  • Competitive reward rate between 2% – 3.33% on a vast range of spends
  • Complimentary airport lounge access, both in India and abroad
  • Complimentary golf rounds & golf lessons

Cons

  • Possible to earn higher reward rates on various spending categories with specialist cards

Features & Benefits of the Standard Chartered Ultimate Credit Card

3.33% reward on all spends (except 2 categories mentioned below)

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.

✔︎ Exception category 1 : 2% reward on the following card spends – utilities, supermarkets, insurance, property management, schools & government payments

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.

✔︎ Exception category 2 : No reward points are given on fuel purchases

Complimentary visits to airport lounges outside India – 1 time per month

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).

Complimentary visits to airport lounges in India – 4 times per quarter

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

1 complimentary golf round per month, AND 1 complimentary golf lesson per month

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

Low fee of 2% on international card transactions

– 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.

5% cashback on airport duty-free spends – on spends upto ₹20,000 per month

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.

Complimentary insurance benefits

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.

Fuel surcharge waiver, upto ₹1000 per month

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).

Standard Chartered Ultimate Credit Card Fees and Charges

Annual fee & annual fee offers

Annual fee
Annual feeoffers
1st year joining fee₹5,000Welcome 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₹5,000Renewal 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 fee

Late payment fees depends on the total payment due

Amount DueLate Fees
Less than ₹100Nil
₹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

Important note

– 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

Eligibility Criteria

Minimum age21 years
Maximum age65 years
Occupation Salaried, self-employed
Income requirementsShould have a regular source of income , minimum income not specified
Credit scoreGood credit score, preferably above 750
Place of residenceThe individual should be staying at one of the card sourcing locations of the bank

Application Process

Step-by-step guide to applying for the card

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 processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Approval timeline and processIn 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.

Necessary documents and verification

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.

Conclusion

The Standard Chartered Bank Ultimate Credit Card is a good premium card offering competitive reward rates across a range of your spending needs. 

The card also offers lifestyle benefits like complimentary airport lounge access & complimentary golf.