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Features of the Standard Chartered Platinum Credit Card
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Reward Points Structure:
- 5X Reward Points on Specific Categories: Cardholders earn 5 reward points for every INR 150 spent on dining, fuel, and hotel expenditures. This accelerated reward rate is appealing for frequent diners, travelers, and vehicle owners.
- 1X Reward Point on Other Spends: All other transactions earn 1 reward point per INR 150 spent, ensuring consistent value across diverse purchases.
- No Monthly Cap on Rewards: Unlimited reward points accumulation with no monthly restrictions, ideal for high spenders.
- Redemption Flexibility: Points can be redeemed for vouchers, merchandise, or statement credits via Standard Chartered’s online rewards portal, featuring options across travel, dining, electronics, and lifestyle products.
- Reward Point Validity: Points typically have a validity period (e.g., 3 years), encouraging timely redemption and preventing loss of accumulated points.
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- Contactless Payment Technology:
In line with modern payment trends, the Platinum Credit Card incorporates contactless payment technology, enhancing both convenience and security.
Tap-and-Go Functionality: Cardholders can make payments by simply tapping the card at compatible point-of-sale (POS) terminals, significantly reducing transaction time. This feature is ideal for small, frequent purchases such as coffee, groceries, or public transport fares, streamlining the payment process.
Enhanced Security: Contactless payments are backed by advanced encryption and tokenization technologies, ensuring that transactions are secure and protected against skimming or unauthorized access. The card complies with global security standards, such as EMV chip technology, adding an extra layer of protection.
Wide Acceptance: Contactless payments are widely accepted at merchants across India and internationally, particularly in urban areas and major retail chains. This makes the card a versatile tool for both domestic and international use. - Lounge Access Privileges:
For frequent travelers, the Platinum Credit Card offers valuable airport lounge access, enhancing the travel experience.
Domestic Lounge Access: Cardholders enjoy up to 8 complimentary visits per year to select airport lounges in India. This feature provides a comfortable space to relax, work, or dine before flights, with amenities like free Wi-Fi, refreshments, and seating.
International Lounge Access: The card grants access to over 25 international airport lounges, with up to 7 visits per year. This is particularly beneficial for international travelers seeking a premium experience at airports worldwide.
Eligibility Conditions: Lounge access is often subject to a minimum spend requirement or specific card usage conditions, which vary by region. For example, a minimum spend of INR 50,000 in the previous quarter may be required to unlock complimentary access. Cardholders should consult Standard Chartered’s lounge program terms for precise details.
Lounge Network: The card is typically affiliated with networks like Priority Pass or Visa/Mastercard lounge programs, ensuring access to a wide range of lounges globally. This enhances the card’s appeal for frequent flyers. - Fuel Surcharge Waiver:
The card offers significant savings on fuel expenses, catering to cardholders who drive regularly.
1% Surcharge Waiver: A 1% fuel surcharge waiver is available on fuel transactions, typically capped at INR 400 per billing cycle. This applies to transactions at fuel stations across India, providing consistent savings.
Transaction Range: The waiver is applicable for transactions between INR 400 and INR 4,000, ensuring that both small and large fuel purchases qualify. This range accommodates most fuel transactions, from regular refueling to long-distance travel.
Ease of Use: The waiver is automatically applied at eligible fuel stations, requiring no additional steps from the cardholder. This seamless integration enhances user convenience. - Comprehensive Insurance Coverage:
The Platinum Credit Card includes insurance benefits to provide financial security and peace of mind.
Purchase Protection: Covers goods purchased with the card against theft, loss, or damage for a specified period, typically up to 90 days. This is particularly useful for high-value purchases like electronics, jewelry, or appliances, offering cardholders added confidence.
Extended Warranty: Extends the warranty period on eligible products purchased with the card, often by an additional year. This feature is valuable for durable goods, ensuring longer protection against manufacturing defects.
Travel Insurance: Some variants of the card may include travel-related insurance, such as coverage for lost baggage, trip cancellations, or medical emergencies during travel. The specifics depend on the card’s terms and region, so cardholders should review the policy details.
Claim Process: Insurance claims are processed through Standard Chartered’s dedicated customer service channels, with clear documentation requirements to facilitate smooth processing. - Online and Mobile Banking Integration:
The card is fully integrated with Standard Chartered’s digital platforms, enhancing accessibility and control.
Online Banking Portal: Cardholders can manage their account, track transactions, view statements, and redeem rewards through Standard Chartered’s secure online banking portal. The portal is designed for ease of use, with a clean interface and robust security features.
Mobile App: The Standard Chartered mobile app allows cardholders to monitor spending, pay bills, set transaction alerts, and block/unblock the card if needed. The app supports real-time notifications, ensuring cardholders stay informed about their account activity.
Bill Payments and Auto-Debit: The card supports seamless bill payments for utilities, insurance, and other recurring expenses. Cardholders can set up auto-debit instructions to ensure timely payments, avoiding late fees. - Zero or Low Fee Structure:
The Platinum Credit Card is designed to be cost-effective, with minimal fees to maximize value.
No Annual or Joining Fees: Many variants of the card, particularly the Platinum Rewards Credit Card, are lifetime free with no annual or joining fees, subject to specific terms (e.g., minimum spend requirements). This makes the card accessible to a wide range of users.
Low Joining Fee Option: In cases where a joining fee applies (e.g., INR 250 for some variants), it is nominal and often waived based on promotional offers or initial spending thresholds.
Foreign Currency Transaction Fee: A standard markup fee (e.g., 3.5%) applies to international transactions, which is competitive with other cards in this segment. - Integration with Standard Chartered Mobile Banking:
The card is accepted globally, making it a reliable companion for international travel and online purchases.
Visa/Mastercard Network: Depending on the variant, the card is issued on the Visa or Mastercard network, ensuring wide acceptance at millions of merchants worldwide.
Foreign Currency Transactions: The card supports transactions in multiple currencies, with competitive exchange rates and transparent fee structures. This is ideal for travelers or those making international online purchases.
EMV Chip Technology: The card includes an EMV chip for enhanced security, reducing the risk of fraud during in-person transactions. - Customizable Credit Limits:
The card offers flexible credit limits tailored to the cardholder’s financial profile.
Credit Limit Assessment: The credit limit is determined based on the applicant’s income, credit score, and financial history, ensuring it aligns with their spending capacity.
Limit Increase Requests: Cardholders can request a credit limit increase through Standard Chartered’s customer service channels, subject to eligibility and approval.
- Contactless Payment Technology:
In line with modern payment trends, the Platinum Credit Card incorporates contactless payment technology, enhancing both convenience and security.
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- Lifestyle Privileges and Discounts: Access exclusive dining and lifestyle discounts at partner merchants in major urban centers. Enjoy complimentary or discounted access to airport lounges, enhancing travel comfort.
- Financial Flexibility and Security: Benefit from balance transfer facilities at competitive interest rates for better debt management. Extended interest-free periods on purchases for easier repayment.
- Dining and Lifestyle Discounts:
The card is tailored for those who enjoy dining and lifestyle experiences, with exclusive discounts and offers.
- Up to 50% Off on Dining: Cardholders can enjoy discounts of up to 50% at select dining and lifestyle merchants, particularly in urban centers. These offers are often tied to partnerships with premium restaurants and retail brands.
- Exclusive Merchant Offers: Standard Chartered partners with leading brands in travel, fashion, and entertainment to provide cardholders with special discounts and promotions.
- Uber Cashback: Some variants offer 5% cashback on Uber rides, adding value for cardholders who rely on ride-sharing services.
- Fuel and Utility Savings:
The card provides consistent savings on everyday expenses like fuel and utilities.
- 5% Cashback on Fuel and Utilities: Cardholders can earn 5% cashback on fuel, utility bills, and telephone bill payments, making it a practical choice for managing household expenses.
- Fuel Surcharge Waiver: As mentioned in the features section, the 1% fuel surcharge waiver (up to INR 400 per month) reduces the cost of refueling, complementing the cashback benefit.
- No Transaction Limits: Unlike some cards that cap cashback or surcharge waivers, the Platinum Credit Card offers flexibility with no monthly cap on fuel or utility rewards in certain cases.
- Travel and Leisure Privileges:
The card enhances the travel and leisure experience with exclusive perks.
- Airport Lounge Access: The complimentary domestic (8 visits/year) and international (7 visits/year) lounge access provides a premium travel experience, with access to amenities like food, beverages, and Wi-Fi.
- Travel Discounts: Cardholders can access special offers on travel bookings, including flights, hotels, and holiday packages, through Standard Chartered’s travel partners.
- Golf Privileges: Some variants of the card offer access to exclusive golf courses, with complimentary rounds or discounted fees, catering to lifestyle enthusiasts.
- Financial Flexibility:
The card offers tools to manage finances effectively, providing flexibility and control.
- Extended Interest-Free Credit Period: New cardholders may benefit from an extended interest-free credit period (e.g., up to 90 days) for the first three months, allowing more time to repay without incurring interest.
- Balance Transfer Facility: The card allows balance transfers from other credit cards at competitive interest rates, helping cardholders consolidate debt and reduce interest costs.
- Flexible Payment Options: Cardholders can convert large purchases into EMIs, with tenures ranging from 3 to 24 months, depending on the merchant and offer.
- Reward Redemption Benefits:
The rewards program is not only about earning points but also about maximizing their value during redemption.
- High-Value Redemption Options: Points can be redeemed for premium rewards, such as flight tickets, hotel stays, or high-end merchandise, often at favorable conversion rates.
- Statement Credit: Cardholders can offset their credit card bill with reward points, providing a direct financial benefit.
- Partner Offers: Standard Chartered collaborates with leading brands to offer exclusive redemption options, such as gift vouchers for popular retailers or dining experiences.
- Security and Fraud Protection:
The card prioritizes security, ensuring cardholders can use it with confidence.
- Fraud Liability Protection: In case of unauthorized transactions, cardholders are protected against financial loss, provided they report the issue promptly.
- Real-Time Transaction Alerts: The card sends instant SMS and email alerts for every transaction, allowing cardholders to monitor activity and detect suspicious behavior immediately.
- 3D Secure Authentication: For online transactions, the card uses 3D Secure (Verified by Visa/Mastercard SecureCode) to add an extra layer of protection.
- Lifestyle Enhancements:
The card is designed to complement a modern, urban lifestyle with tailored benefits.
- Exclusive Event Access: Cardholders may receive invitations to exclusive events, such as concerts, movie premieres, or lifestyle expos, depending on promotional campaigns.
- Shopping Discounts: Discounts at select retail and e-commerce platforms enhance the card’s value for frequent shoppers.
- Priority Customer Service: Standard Chartered offers dedicated customer support for Platinum cardholders, ensuring quick resolution of queries and issues.
