Below content is outdated, kindly refer to the latest review here: Standard Chartered Ultimate Credit Card Review
Standard Chartered credit cards have recently gained attention for high approval rates, but that can come with lower credit limits for many cardholders. For example, a friend of mine has held two Standard Chartered cards for three years with a combined limit of just Rs. 20,000.
Despite that reputation, Standard Chartered has launched a premium, high-fee credit card aimed at HNI and affluent customers. On September 15, 2017, Standard Chartered India introduced the “Ultimate” credit card on the Visa Infinite platform, combining striking design with a strong rewards structure.
- Joining/Renewal Fee: Rs. 5,000 + GST
- Welcome Bonus: Rs. 10,000 cashback
- Renewal Benefits: 5,000 points (Value: Rs. 5,000)
- Eligibility: ITR Rs. 24 lakh p.a. or existing Standard Chartered credit card limit of Rs. 5 lakh
The card’s visual appeal is impressive, and many will be tempted to apply for it on looks alone. Beyond aesthetics, the card offers benefits worth considering for frequent travelers and high spenders.
Table of Contents
- Welcome Bonus
- Reward Points
- Airport Lounge Access
- Other Benefits
- How to Get
- Bottom Line
Welcome Bonus
- Rs. 10,000 cashback on spending at MakeMyTrip (MMT) hotels
- Valid only for the first transaction on MMT
- Cashback equals the transaction amount or Rs. 10,000, whichever is lower
- Fulfilment: Cashback credited within 60 days from the date of travel/stay
To qualify for the Rs. 10,000 cashback, you must spend Rs. 10,000 or more on MakeMyTrip in the hotels or flights category for your first transaction.
Tip: The welcome cashback is most valuable when used for high-end domestic hotels or international hotel bookings that meet the spending threshold.
Caution: Avoid making additional transactions on MakeMyTrip until your first stay is completed and the cashback is credited. Doing otherwise may cause issues with the offer.
Reward Points
- 5 reward points for every INR 150 spent (1 reward point = Rs. 1)
- Effective reward rate: 3.3%
This reward rate places the card alongside other top-tier travel cards such as HDFC Infinia and HDFC Diners Club Black. It can be more useful because Standard Chartered allows redemptions for gift vouchers, including occasional options like Amazon gift cards.
Airport Lounge Access
- Domestic: Via Visa Infinite – 4 visits per quarter
- International: Via Priority Pass – 1 visit per month (applies to both primary and add-on cardholders)
- Qualifying criteria for complimentary Priority Pass visits: Rs. 20,000 spend in the previous month on the card
Linking complimentary Priority Pass access to monthly spending is a novel approach and rewards active card usage. However, many would prefer an annual qualification requirement with a lump-sum allotment of visits rather than a monthly threshold on a premium card.
Other Benefits
- Dine-out Offer: Up to 25% discount at select top restaurants in India
- Hilton Honors Gold status after a four-night stay or via fast-track enrollment
- Two complimentary golf games per month
- Reported 5% cashback on duty-free spends (terms unclear)
- Discounts and offers with meet-and-assist services, Hertz and Avis car rentals
- All standard Visa Infinite privileges
The dine-out discounts and Hilton Honors Gold benefit add tangible value for travelers. Some other listed benefits appear more nominal, included to broaden the card’s appeal. Additional merchant offers, such as cinema or event discounts, may also be available through Visa Infinite programs.
How to Get
The Standard Chartered Ultimate card is available on a card-to-card basis. Eligibility can be based on an existing credit card with another bank that has a minimum available credit limit of Rs. 5 lakh.
Bottom Line
The Ultimate card is primarily designed for travelers and high spenders. It delivers its best value if you can leverage the MakeMyTrip welcome cashback for substantial bookings. Even without that, the high reward rate across all spends makes it attractive for frequent users who can justify the annual fee.
Some benefits require clearer terms, which may become available over time. This review will be updated as further information emerges.
What are your thoughts on Standard Chartered’s Ultimate Credit Card? Share your opinion in the comments below.
Thanks to Shrey for spotting the card launch.