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Standard Chartered Ultimate Credit Card

In September 2017, Standard Chartered introduced its Ultimate credit card, marking it as the bank’s most exclusive card to date. Tailored for individuals with substantial incomes aspiring to indulge in a luxurious lifestyle, this card competes directly with ICICI Bank Sapphiro credit card and HDFC Bank Infinia credit card Metal Edition. Initially available in two variants, Visa Infinite and MasterCard World, the former has since been discontinued.

As a premium offering, the Ultimate credit card from Standard Chartered comes with a host of exclusive benefits designed to cater to the opulent needs of its users. These perks include golf services, Priority Pass membership, and more. In recognizing the international travel needs of its clientele, the bank has set the foreign currency exchange rate at a competitive 2%, lower than the industry average of 3.5%. Additionally, cardholders can enjoy a 5% cashback on duty-free purchases made at airports.

Key Highlights of Standard Chartered Ultimate Credit Card

Unlock unparalleled benefits with the Standard Chartered Ultimate Credit Card.

  1. Enjoy a welcome bonus comprising 6,000 reward points when you acquire the card.
  2. Earn 5 reward points for every Rs. 150 spent using the card.
  3. Encounter a 2% foreign currency markup.
  4. Receive a 5% cashback on duty-free purchases made at airports.
  5. Access airport lounges at over 1,000 locations globally.
  6. Obtain 5,000 reward points annually upon renewing your card membership.
  7. Benefit from air accident insurance provided by HDFC ERGO General Insurance, valued at Rs. 1 crore.

Features and Benefits of Standard Chartered Ultimate Credit Card

The Standard Chartered Ultimate Credit Card offers several features and benefits:

1. Welcome Benefits:

  • Upon payment of the joining fee for this card, you receive 6,000 complimentary reward points valued at Rs. 6,000.
  • The reward points are credited within 60 days after the bank receives the joining fee payment.

2. Reward Points:

  • This credit card provides 5 reward points for every Rs. 150 spent.
  • Each reward point is equivalent to Re 1, maximizing the overall benefit of this feature.

3. Travel Benefits:

  • Low foreign currency markup of 2% on overseas expenditures.
  • 5% cashback on duty-free spends.
  • Access to over 1000 airport lounges worldwide.

4. Lounge Access:

  • Complimentary Priority Pass membership valued at $99.
  • 1 free lounge visit per month upon spending Rs. 20,000 in the previous billing cycle.
  • Complimentary domestic airport lounge access under the Visa Lounge Program.

5. Golf Benefits:

  • Standard Chartered Ultimate card grants access to premier golf courses in India.
  • Enjoy 1 complimentary golf game per month. Check the accessible golf courses here.

6. Insurance:

  • Air travel accident coverage of up to Rs. 1 Crore.
  • Medical insurance coverage worth $25k.

Standard Chartered Ultimate Credit Card Fees and Charges

Explore the fee structure for the Standard Chartered Ultimate Credit Card and discover the financial advantages that come with it.

1. Membership Fees:

  • Joining Fee: Rs. 5,000
  • Renewal Fee: Rs. 5,000

2. Waivers and Fees:

  • Spend Based Waiver: None
  • Rewards Redemption Fee: Rs. 99

3. Foreign Transactions:

  • Foreign Currency Markup: 2%
  • 3.5% charged at the time of the transaction
  • 1.5% cashback within 60 days

4. Interest Rates:

  • 3.75% per month
  • 45% annually

5. Fuel Benefits:

  • Fuel Surcharge: 1% waiver
  • Maximum Rs. 1,000 each month

6. Cash Transactions:

  • Cash Advance Charges: 3% of the transacted amount
  • Minimum fee of Rs. 300

7. Additional Card Fees:

  • Add-on Card Fee: Nil

Eligibility Criteria for Standard Chartered Ultimate Credit Card

Here are essential criteria for applying for an Standard Chartered Ultimate Credit Card:

1. Age Requirement:

  • The applicant must fall within the age range of 21 to 65.

2. Monthly Income Criteria:

  • A stable monthly income is a prerequisite for the applicant.

3. Geographic Eligibility:

  • The applicant should reside in the credit cards sourcing cities/locations of the Bank.

4. Application Evaluation:

  • All applications will undergo thorough credit and policy checks by the Bank.

Documents Required for Standard Chartered Ultimate Credit Card

To apply for the Standard Chartered Ultimate Credit Card, you will typically need to provide the following documents:

1. Identity Proof:

  • Passport
  • Voter ID Card
  • Government ID
  • PAN Card

2. Address Proof:

  • Aadhaar Card
  • Passport
  • Driving License
  • Election/Voter’s ID Card
  • Job card issued by NREGA (signed by a State Government officer)
  • Letter issued by the National Population Register (with name and address details)

3. Additional Requirements:

  • 1 recent passport-sized photograph

4. Financial Documents for Salaried:

  • Latest one month salary slip

5. Financial Documents for Self-Employed Businessmen:

  • Latest IT Returns with computation of income/Certified Financials
  • Last Business Continuity proof

6. Financial Documents for Self-Employed Professionals:

  • Latest IT Returns
  • Business Continuity proof

How to apply for Standard Chartered Ultimate Credit Card

Follow these steps to apply for the Standard Chartered Ultimate Credit Card online:

1. Obtain the Standard Chartered Ultimate Credit Card by following these steps:

  • Start by acquiring the Standard Chartered Smart Credit Card.
  • Use your existing credit card relationship with the bank to apply for the SC Ultimate.

2. The process involves authenticating your current SC credit card to secure the second card from Standard Chartered, requiring only a few simple clicks.

3. Approval for a sufficient credit limit is essential for this process to succeed. Higher limits on your other credit cards increase the likelihood of approval.

4. If your application encounters a delay or unresponsiveness, don’t worry. Expect a call from the backend within one to two weeks to address any concerns.

Frequently Asked Questions (FAQs) –

1. What is the Standard Chartered Ultimate Credit Card?

The Standard Chartered Ultimate Credit Card is a premium credit card offering a range of exclusive benefits, rewards, and privileges. It is designed to cater to the lifestyle needs of high-spending individuals.

2. What are the key features of the Standard Chartered Ultimate Credit Card?

  • Reward Points: Earn reward points for every eligible transaction.
  • Airport Lounge Access: Enjoy complimentary access to airport lounges worldwide.
  • Dining Privileges: Avail discounts and special offers at select restaurants.
  • Travel Insurance: Receive complimentary travel insurance coverage.
  • Exclusive Events: Access to exclusive events and lifestyle experiences.

3. How can I apply for the Standard Chartered Ultimate Credit Card?

You can apply for the card online through the Standard Chartered website or by visiting a local branch. Ensure that you meet the eligibility criteria and provide the necessary documents during the application process.

4. What are the eligibility criteria for the Ultimate Credit Card?

Eligibility criteria may vary, but generally include factors such as minimum age, income requirements, and credit history. It is advisable to check with Standard Chartered for the most up-to-date eligibility criteria.

5. How does the reward points system work?

Standard Chartered Ultimate Credit Cardholders earn reward points for every eligible transaction. These points can be redeemed for a variety of rewards, including merchandise, travel, and cashback. The redemption process and available rewards may vary, so it’s recommended to review the rewards program details.

6. Is there an annual fee for the Standard Chartered Ultimate Credit Card?

The card may have an annual fee, and additional charges may apply for supplementary cards. It’s essential to check the current fee structure and terms before applying for the card.

7. Can I access airport lounges with the Standard Chartered Ultimate Credit Card?

Yes, cardholders are typically entitled to complimentary access to airport lounges globally. However, specific terms and conditions, as well as participating lounges, may apply. Refer to the card benefits guide for more details.

8. How can I contact Standard Chartered for assistance with my Ultimate Credit Card?

You can contact Standard Chartered’s customer service through the phone number provided on the back of your credit card or visit the official website for contact information. Additionally, you may have access to online banking services for managing your card account.

9. Is there a grace period for the Standard Chartered Ultimate Credit Card?

Standard Chartered usually provides a grace period for the repayment of credit card bills without incurring interest charges. The specific grace period and billing cycle details can be found in your credit card statement.

10. How do I report a lost or stolen Standard Chartered Ultimate Credit Card?

In case of a lost or stolen card, promptly contact the Standard Chartered customer service hotline to report the incident. They will guide you through the necessary steps, including card replacement procedures and potential security measures.