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| Monthly Spend | ₹5K | ₹10K | ₹20K | ₹50K | ₹100K |
|---|---|---|---|---|---|
| Net Reward Yield | -5.7%^ | -1.3%^ | 0.9% | 2.1% | 2.5% |
| Est. Monthly Reward (₹) | (285) | (130) | 170 | 1,050 | 2,535 |
| All-India Rewards Rank* | 342 | 316 | 106 | 26 | 7 |
| Within Bank Rank* | 9 | 9 | 4 | 1 | 1 |
| * Based on est. net reward yield for nearly 400 credit cards in India, for each monthly spending level. Read about how we calculate the net reward yield here.
^ The negative figure means at this level of monthly spends, the rewards earned in a year will be worth less than the annual fee of ₹5,000. This does not account for the reward points worth ₹5,000 received in return for the annual fee. |
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The Ultimate Credit Card by Standard Chartered Bank offers effective rewards of 2% on utility bills, shopping at supermarkets and some other payments like insurance premiums, government charges, school fees & rental. All other domestic transactions earn 3.33% with no monthly limits.
We estimate high spenders can earn a net reward yield of 2.1-2.5% with this card.
The Ultimate has a high and non-waivable annual fee of ₹5,000. You do get reward points worth ₹5,000 every year on paying the the annual fee.
Adding the value of these points, the card actually offers a net reward yield of 2.6 – 2.9%+ for everyone (not just high-spenders), which can make it worth paying the fee.
However, we do not expect Standard Chartered to approve this credit card for people spending less than ₹50,000 per month.
None of the other credit cards from Standard Chartered Bank in India offer adequate reward yield and therefore we do not recommend any other card from them.
Our list of the best credit cards in India, at every spending level and from every bank, is here. You can find a detailed discussion of our methodology here.
| Card | |
|---|---|
| Card Type | Reward Card |
| Reward Features | – 3 Reward points / ₹150 on utility bills, at supermarkets, for insurance payments, school fees, rental and govt. payments
– 5 Reward points / ₹150 on everything else |
| Milestone Rewards | N/A |
| Other Rewards | – Complimentary Priority Pass membership and 1 free lounge visit a month upon spending ₹20,000+ in previous month
– 1 complimentary Golf game per month – 5% cashback on Duty-free purchases at airports |
| Rewards Redemption Fee | ₹99 |
| Cashback Caps | Unlimited |
| Preferred Redemption Method | Redeem points on Standard Chartered Rewards Portal @ ₹1/ reward point |
| Card | ||
|---|---|---|
| Joining Fee | ₹5,000 + Taxes | |
| Annual Fee | ₹5,000 + Taxes | |
| Min. Annual Credit Card Spend for Fee Waiver |
N/A | |
| Income Criteria | Salaried | N/A |
| Self-employed | N/A | |
| Supplementary Card Fee | Free | |
| Interest Rate | 45.00% p.a. | |
| Foreign Currency Markup | 2.00% | |
| Cash Advance Charge | 3.00% with a minimum of ₹300 | |
| Card Association | Visa, MasterCard | |
Questions? Suggestions? See a mistake? Write to us!
Our analysis of 100s of flights shows that miles from international airlines are worth much less in India that they are globally, between 16-54% less. Their value in India is between ₹0.50/mile for the Etihad to ₹0.80/mile for BA & SQ.
2 Free Movie / Stream / Play / Events / Sports / Activities tickets up to ₹250 each and ₹100 off on F&B Spends on BookMyShow tickets.
8 reward points / ₹400 on bill payments & education and 1 point on all other spends. Fuel surcharge waiver of up to ₹100 per month.
