Standard Chartered Rewards Credit Card Review

General Information

Rewards and Benefits

Fees and Charges

Summary

Get 4 times the amount of reward points on every retail purchase. Get 1 times the amount of rewards on insurance and government payments. Obtain an additional 4 times the amount of reward points on all purchases once you reach the monthly goal. Receive free access to domestic lounges once a year. Enjoy a 1% waiver on fuel surcharges for all fuel purchases. If you spend a certain amount, you can have the renewal fee waived.

The Standard Chartered Rewards Credit Card is a suitable choice for avid shoppers, with its enticing cashback rewards and convenient features.

One of the major highlights of this card is the absence of a joining fee, making it a cost-effective option right from the start.

However, bear in mind that a renewal fee of Rs. 1,000 + GST will be applicable annually.

When it comes to earning rewards, this credit card offers a generous reward rate.

For every retail spend of Rs. 150, you can earn 4 Reward Points, making it an attractive proposition for frequent shoppers.

Additionally, for every Rs. 150 spent on government payments and insurance, you can earn 1 Reward Point.

This provides an opportunity to accumulate points quickly and maximize your benefits.

Though the card does not offer any welcome benefits, movie dining perks, or international lounge access, it does offer a complimentary domestic lounge access every quarter.

This means you can enjoy 1 free access to a domestic lounge every three months, totaling 4 per year.

This benefit can be particularly useful for frequent travelers within the country.

Furthermore, the renewal fee of Rs. 1,000 + GST can be waived if you have spent Rs. 3 lakhs or more in the previous year.

This spend-based waiver is a favorable feature, helping you save on the annual fee if you meet the required spending threshold.

When it comes to redeeming your rewards, there is a rewards redemption fee of Rs. 99.

While this may be considered a minor drawback, it is important to consider the overall value and benefits offered by the card.

Additionally, the foreign currency markup stands at 3.5% of the transaction amount, which is fairly standard in the market.

In terms of interest rate, the Standard Chartered Rewards Credit Card charges 3.75% per month.

While this rate may be slightly higher compared to some other cards, it is essential to repay your outstanding balance in a timely manner to avoid accruing high interest charges.

With regards to fuel transactions, the card provides a 1% fuel surcharge waiver, making it convenient and cost-effective for fuel purchases.

However, keep in mind that a cash advance fee of 3% of the withdrawn amount, with a minimum of Rs. 300, will be applicable if you decide to withdraw cash using this credit card.

Overall, the Standard Chartered Rewards Credit Card is a valuable option for individuals who enjoy shopping and want to earn cashback rewards.

With its attractive reward rate, complimentary domestic lounge access, and the potential to waive the renewal fee, this credit card offers enticing features that cater to the needs of frequent shoppers.