About Standard Chartered Rewards Credit Card
The Standard Chartered Reward Credit Card is designed to help users earn and save with up to 8X reward points on their spends. This includes 4 reward points on all retail transactions, plus an additional 4 points once a specific monthly spending threshold is reached. These points can be redeemed through the rewards catalogue or as statement credit. Opting for catalogue redemption maximizes value, though the redemption ratio of 4:1 means that even the 8X reward rate translates to only about 1.33% value-back.
Another key feature is complimentary access to domestic airport lounges, which is beneficial for frequent domestic travelers. The annual fee is modest and can be waived by spending just Rs. 1.5 lakh annually, or it can be offset with bonus reward points.
However, this card provides limited value-back on lifestyle categories such as dining, movies, and entertainment. In comparison, similar cards like Axis Rewards and IDFC FIRST Wealth offer slightly better rewards rates of 3.2% and 2% along with added benefits like milestone bonuses, insurance coverage, and discounts on dining, food delivery, and movie spends, making them more rewarding overall for lifestyle spending.
Standard Chartered Rewards Credit Card Rewards Program
Rewards Program
- 4X Rewards: Earn 4 reward points for every Rs. 150 spent on retail purchases.
- 1X Rewards: Earn 1 reward point for every Rs. 150 spent on insurance and government payments.
- Bonus Rewards: Get an additional 4 reward points per Rs. 150 spent on retail transactions exceeding Rs. 20,000 per month.
- Capping: Bonus 4X rewards are capped at 2,000 reward points per month.
Redemption Options:
- 1 Reward Point = Rs. 0.25 when redeemed via 360° Rewards catalogue.
- 1 Reward Point = Rs. 0.20 when adjusted against the credit card statement balance.
Other Features and Benefits
Airport Lounge Access
Up to 4 complimentary domestic lounge visits per year, limited to 1 visit per calendar quarter.
Renewal Fee Reversal
Annual card renewal fee is waived if you spend a minimum of Rs. 1.5 lakh in the previous year.
Renewal Bonus
Earn 4,000 reward points upon paying the card renewal fee if the fee reversal condition is not met.
Fuel Benefit
1% fuel surcharge waiver, up to Rs. 400 per month, on fuel spends between Rs. 400 and Rs. 2,000.
Fees and Charges
| Particulars | Amount |
|---|
| Joining Fee | Nil |
| Annual Fee | Rs. 1,000 + applicable taxes |
| Finance Charges | 3.75% per month (45% per annum) |
| Late Payment Charges | | On outstanding balance of – | | | Up to Rs. 100 | Nil | | From Rs. 101 to Rs. 500 | Rs. 100 | | From Rs. 501 to Rs. 5,000 | Rs. 500 | | From Rs. 5,001 to Rs. 10,000 | Rs. 700 | | Above Rs. 10,000 | Rs. 1,200 |
|
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Document Required For Standard Chartered Rewards Credit Card
- Proof of Identity: PAN Card, Aadhaar Card, Driver’s License, Passport, Voter ID
- Proof of Address: Aadhaar Card, Driver’s License, Passport
- Proof of Income: Latest 3 salary slips, Last 3 months’ bank statement
Eligibility Criteria
- Age: 21 to 70 years
- Occupation: Salaried or Self-employed
- Credit Score: Should have a good credit history
Standard Chartered Rewards Credit Card Highlights
What do we like about this card?
- Up to 8X reward points on retail spends (4X base + 4X bonus on spends above Rs. 20,000/month)
- 1X reward point on insurance and government payments
- Bonus 4X rewards capped at 2,000 points per month
- 4 complimentary domestic airport lounge visits per year (1 per quarter)
- 1% fuel surcharge waiver up to Rs. 400 per month on fuel spends of Rs. 400–2,000
- Renewal fee reversal on spending Rs. 1.5 lakh in the previous year
Things to Know Before you apply
Get this card if:
- You want a basic rewards credit card that also offers domestic airport lounge access.
- You can maximize rewards by spending over Rs. 20,000 in a month to earn the additional 4X reward points.
- You prefer redeeming reward points for vouchers, products, and offers through the bank’s rewards catalogue to get higher value-back.
Pros
- Earn up to 8 reward points on every Rs. 150 spent
- Free access to domestic airport lounges
- No joining fee
- Low spend required for annual fee reversal
Cons
- Accelerated rewards only after spending Rs. 20,000 per month and capped
- Low reward redemption value
- Limited benefits on lifestyle categories like dining, movies, and travel
Standard Chartered Bank Credit Card Contact Details
- Contact Address: Standard Chartered Bank, Crescenzo Building, C-38/39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
- Helpline: 6601 4444 / 3940 4444 (prefix STD code) 1800 345 1000 (Toll-Free)
- Simply SMS: SMS CARD to 9980033333 for card details or application
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Frequently Asked Questions
A. You earn an additional 4 reward points per Rs. 150 spent on retail purchases once your monthly retail spends exceed Rs. 20,000.
A. Reward points can be redeemed at 1 RP = Rs. 0.25 via the 360° Rewards catalogue or 1 RP = Rs. 0.20 against your credit card statement balance.
A. You get up to 4 domestic airport lounge visits per year, capped at 1 visit per calendar quarter.
A. The card’s annual or renewal fee is reversed if you spend a minimum of Rs. 1.5 lakh in the previous year.
A. Yes, you get a 1% fuel surcharge waiver of up to Rs. 400 per month on fuel spends between Rs. 400 and Rs. 2,000.
A. No, the Standard Chartered Reward Credit Card does not charge a joining fee.
