Standard Chartered Rewards Credit Card Review
Author And Publisher: Gyro 3.oStandard Chartered Rewards Credit Card
Financial Expert Advice
Choose Your First (or Next) Credit Card Wisely
Maintain Two Credit Cards: One For Routine Expenses And Auto-Debits, And Another Reserved For Emergencies. Avoid Pursuing Rewards; Prioritize Financial Stability And Discipline.
Standard Chartered Rewards Credit Card Review:
Up to 8X Rewards with Spend-Based Fee Waiver
introduction
The Standard Chartered Rewards Credit Card suits disciplined Indian spenders seeking predictable rewards without premium fees. Issued by Standard Chartered Bank, it offers 4X base points on retail (8X after ₹20,000 monthly milestone), domestic lounge access, fuel waiver, and ₹1,000 fee reversal on ₹1.5 lakh annual spends.
key features and benefits
First Year Free Card
- No joining fees. 2nd Year onwards the annual fees to be reversed on spends of INR 1,50,000 or more in the previous year. Alternatively, client will be entitled to receive 4000 reward points* on payment of Annual Fees.
Reward Structure
4X Reward Points per ₹150: On all retail transactions like restaurants, shopping, entertainment, travel, utilities (excluding government payments and insurance).
1X Reward Point per ₹150: On government and insurance category spends.
Bonus 4X Reward Points per ₹150: On monthly retail spends above ₹20,000, applies to all retail categories (max 2000 bonus reward points per statement cycle).
Airport Lounge Access
1 Domestic Lounge Visit per calendar quarter (4 per year) across 60+ partner lounges in India.
Additional benefits
Extend the credit card benefits to up to 2 family members. Spread the joy with them!
Use contactless credit card & enjoy complete freedom cash transaction with faster checkouts & secure payments.
Enjoy enhanced security for online transactions on your credit card through 3D secure OTP Verification.
Avail wide range of instant payment solutions like BharatQR, Bharat Bill Payment Solution (BBPS) & Samsung Secure Pay.
With Kuch bhi on EMI option, convert your big spends above ₹ 2,000 to easy EMI through online banking or SC Mobile. Get attractive pricing & flexible tenure options.
Get loan up to ₹ 5,00,000 on your credit card with flexible tenure from 12 to 60 months.
Transfer card balance from other bank credit cards up to ₹ 5,00,000 at attractive interest rate.
Card Essential
| Type | rewards |
| Welcome Benefits | ---- |
| Joining Fee | nil |
| Annual Fee | ₹1,000 + GST |
| Reward Structure | rewards on SPENDS |
| annual fee waiver | Spend ₹1.5 lakh annually or 4000 rP. |
| Interest Rate | 3.75% per month (i.e., 45% per annum) |
| Forex Mark-up | 3.50% + TAXS |
| Cash Advance Charges | 3% or ₹300 Whichever is higher |
| Over Limit Charges | 2.5% of overlimit amount, minimum of ₹550 |
| Wallet Transactions Charges | ---- |
| Rental Transactions Charges | 1% + GST |
| Utility Transactions Charges | ---- |
| Education Fee Payment Charges | ---- |
| Railway surcharge | 2.5% or ₹25, Whichever is higher |
| Fuel Surcharge | 1% or ₹10, Whichever is higher |
Rewards and Benefits Analysis
- Best For: Consistent High Spenders (₹20,000+/month or ₹1.5L+/year) Ideal for users spending ₹20,000 or more monthly (₹1.5 lakh+ annually). Beyond hitting the spend-based fee waiver, such users unlock the 4X bonus multiplier—effectively earning up to 8X points or a 5.33% return on spends. This makes the card highly rewarding and potentially free, offering strong overall value with added fuel savings and lounge benefits.
Practical Considerations
fees & charges summary:
- annual fee: 1,000 + GST.
- Joining fee: zero.
- forex: 3.5% + taxes.
- interest: 3.75% per month (45% p.a).
Applicant's age should be between 18 and 65 years; minimum age for add-on cardholder is 18 years.
Applicants should have a stable monthly income.
Applicants should belong to the bank's credit card sourcing cities/locations.
All applications are subject to the bank's credit and other policy checks.
Identity proof: Any one photo ID (Passport, Voter ID, Govt ID, etc.); PAN Card required.
Address proof: Any one with current address (Aadhaar, Passport, Driving License, Voter ID, NREGA job card signed by state officer, National Population Register letter).
1 recent passport-sized photograph.
Salaried: Latest one-month salary slip.
Self-employed businessmen: Latest IT returns with income computation/certified financials; last business continuity proof.
Self-employed professionals: Latest IT returns; business continuity proof.
Redemption Options
standard Chartered rewards portal
Access: Log into SC Online Banking → 360° Rewards section.
Redemption Catalog: 500+ partner merchants, vouchers, merchandise, travel, and lifestyle products.
Redemption Values: Against Reward Catalog: 1 RP = ₹0.25; Against Card Statement Credit: 1 RP = ₹0.20.
Best-Value Strategy
Accumulate 5,000+ points by batching redemptions to maximize value and minimize per-point fee impact (₹99/5,000 pts = ₹0.02/point cost).
Prioritize catalog redemption (₹0.25/point) over statement credit (₹0.20/point) for 25% better value.
Redeem for high-value vouchers like travel vouchers, merchandise packages, or lifestyle experiences offering better per-point value.
Use statement credit as fallback for accumulated points post-90 days or if no appealing catalog items available.
Monitor expiry: Although points don't officially expire, combine in batches for strategic redemption timing.
Ideal User Profile
Disciplined spenders who put ₹20,000+ per month on regular retail spends and pay on time.
Users wanting a low-cost card that can be effectively free via the ₹1.5 lakh annual spend waiver.
Final Thoughts
Strengths
Affordable ₹1,000 annual fee waivable on ₹1.5 lakh spend, effectively free for mid-range users.
8X rewards (5.33% return) on >₹20,000 monthly spends, competitive for mid-tier.
4 complimentary domestic lounge visits annually, no spend threshold.
1% fuel surcharge waiver saves ₹600/year on fuel.
No points expiry allows flexible accumulation.
Free add-on cards extend benefits to family.
4,000 bonus points offset fee if not waived.
Limitations
Monthly bonus capped at 2,000 points limits high spenders.
1% + GST convenience fees on rent, utilities, education, high-value fuel.
3.5% forex markup not best for international use.
Only 4 domestic lounges yearly, no international access.
This review offers a clear and balanced overview of The Standard Chartered Rewards Credit Card’s strengths and limitations, helping readers make an informed choice about whether this card fits their
Spending Habits And Financial Goals.
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