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Features of the Standard Chartered Rewards+ Credit Card
- Base Reward Points: The Standard Chartered Rewards+ Credit Card offers a rewarding structure for cardholders, providing 4 reward points for every INR 150 spent on retail purchases, excluding government, insurance, and fuel transactions. This base reward rate ensures that cardholders earn points on a wide range of everyday spends, such as shopping, dining, and online purchases, making it ideal for those who frequently use their credit card for retail transactions.
- Bonus Reward Points: For cardholders who exceed a monthly spending threshold of INR 20,000 on retail purchases, the card offers an additional 4 reward points per INR 150 spent, effectively doubling the reward rate to 8X reward points on qualifying spends. However, this bonus is capped at 2,000 bonus reward points per statement cycle, ensuring a balanced yet lucrative rewards system for high spenders. This feature encourages cardholders to consolidate their spending on the card to maximize rewards.
- Reward Points on Specific Categories: For transactions in government and insurance categories, the card offers 1 reward point per INR 150 spent. While this is lower than the retail reward rate, it ensures that even these essential expenses contribute to the cardholder’s reward balance, adding versatility to the card’s earning potential.
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Reward Points Structure:
One of the standout features of the Visa Infinite Credit Card is its robust rewards program, known as the Standard Chartered 360° Rewards Programme. Cardholders earn:
5 reward points for every INR 100 spent on overseas transactions or retail fashion purchases. This high earning rate makes it particularly attractive for frequent international travelers or those who indulge in luxury shopping. For example, a cardholder spending INR 50,000 on international shopping would earn 2,500 reward points, equivalent to significant redemption value.
2 reward points for every INR 100 spent on all other categories, ensuring that even routine purchases contribute to reward accumulation. For instance, spending INR 20,000 on groceries or utilities would yield 400 points. The points have no expiry date in many regions, allowing cardholders to accumulate rewards over time without pressure to redeem them hastily. This flexibility is ideal for those who prefer to save points for significant redemptions, such as luxury goods, travel, or exclusive experiences. The rewards program is accessible through Standard Chartered’s online portal, where cardholders can browse an extensive catalogue of redemption options, including electronics, gift vouchers, and air miles. The program’s versatility ensures that it caters to diverse preferences, from tech enthusiasts to frequent flyers. -
Airport Lounge Access:
Travel benefits are a cornerstone of the Visa Infinite Credit Card’s features. Cardholders enjoy:
4 complimentary domestic lounge accesses per calendar quarter through the Visa Infinite Lounge Program, available at select airports in India, such as Delhi, Mumbai, Bangalore, and Chennai. This is a significant perk for frequent domestic travelers, offering a comfortable space to relax before flights, complete with amenities like gourmet food, beverages, Wi-Fi, and business facilities.
Complimentary Priority Pass membership, which provides access to over 1,000 international lounges worldwide. However, international lounge visits may be subject to specific conditions, such as maintaining a minimum Funds Under Management (FUM) of INR 30 Lakh at an individual account level. For qualifying cardholders, this translates to 2 international lounge visits per month, enhancing the travel experience with access to premium amenities like shower facilities, quiet zones, and high-speed internet. For example, a cardholder traveling through Dubai International Airport could access the Marhaba Lounge, enjoying a luxurious pre-flight experience. The lounge access benefits are particularly valuable for frequent travelers, as they reduce the stress of long layovers and provide a premium travel experience. - Contactless Payment Technology: The card supports contactless payments, enabling quick and secure transactions at compatible terminals. This feature is particularly useful for small, everyday purchases, as it allows cardholders to tap and pay without entering a PIN for transactions below a certain threshold (e.g., INR 5,000 in India). The contactless feature is powered by Visa payWave technology, ensuring compatibility with a wide range of merchants globally. Additionally, the card integrates with digital wallets like Apple Pay, Google Pay, and Samsung Pay, allowing cardholders to make payments using their smartphones or smartwatches. This reduces the need to carry physical cards, enhancing convenience and security, especially in high-traffic environments like airports or shopping malls. The contactless feature is particularly appealing to tech-savvy users who prioritize speed and efficiency in their transactions.
- 3D Secure OTP Verification: The card is equipped with 3D Secure OTP verification for online transactions, ensuring enhanced security against unauthorized use. This feature provides peace of mind when shopping online or making digital payments.
- Contactless Payment Security: The contactless payment feature is backed by advanced encryption technology, ensuring that transactions are secure and protected from fraud. This makes the card suitable for everyday use in a variety of retail environments.
- Supplementary Cards: Cardholders can extend the benefits of the Rewards+ Credit Card to family members by applying for supplementary credit cards at no additional cost. All reward points earned through supplementary card transactions are credited to the primary cardholder’s account, enhancing the overall rewards accumulation.
- No Joining Fee: The Rewards+ Credit Card has no joining fee, making it accessible for new cardholders without an upfront cost. This feature lowers the barrier to entry for those looking to benefit from the card’s rewards program.
- Annual Fee and Waiver: The card carries an annual fee of INR 1,000, which is waived if the cardholder spends INR 3,00,000 or more in the previous anniversary year. Alternatively, cardholders who pay the annual fee receive 4,000 reward points, effectively offsetting the fee’s cost through redeemable rewards.
- Digital Banking Integration: The card integrates seamlessly with Standard Chartered’s online banking and SC Mobile app, allowing cardholders to manage their account, view reward points, pay bills, and redeem rewards conveniently. The app also supports instant payment solutions like BharatQR, Bharat Bill Payment Solution (BBPS), and Samsung Pay, enhancing the card’s utility for digital transactions.
- No Cap on Base Reward Points: Unlike the bonus points, there is no cap on base reward points earned on retail spends, allowing cardholders to accumulate rewards without restrictions on their everyday purchases.
- Processing Fee for Rent Payments: party platforms, effective from April 2, 2023. This fee is levied by the 15th of the following month and is clearly indicated in the monthly statement, ensuring transparency. This comprehensive set of features makes the Standard Chartered Rewards+ Credit Card a versatile and rewarding option for individuals seeking value from their credit card usage across retail, travel, and lifestyle categories.
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Reward Points Structure:
One of the standout features of the Visa Infinite Credit Card is its robust rewards program, known as the Standard Chartered 360° Rewards Programme. Cardholders earn:
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- >Versatile Redemption Options: The Standard Chartered 360° Rewards Portal offers a diverse range of redemption options, from gift vouchers for popular retailers to travel bookings and charitable donations. The ability to redeem points at INR 0.25 per point for catalog items or INR 0.20 per point for statement credits provides flexibility, catering to varied cardholder preferences.
- Non-Expiring Reward Points: The absence of an expiry date on reward points is a significant benefit, allowing cardholders to accumulate points over time for high-value redemptions.
- Travel Benefits: The 4 complimentary domestic lounge visits per year (1 per quarter) enhance the travel experience by providing access to airport lounges across India.
- Complimentary Lounge Access: This benefit offers cardholders a comfortable space to relax, enjoy refreshments, and access Wi-Fi before flights, adding value for frequent travelers.
- Fuel Surcharge Waiver: The 1% fuel surcharge waiver (up to INR 400 per month) on transactions between INR 400 and INR 2,000 helps reduce fuel expenses, a practical benefit for cardholders who drive regularly.
- Financial Flexibility:This is particularly beneficial for managing large expenses, such as buying appliances or funding travel, by spreading payments over 3 to 24 months.
- EMI Conversion: The Kuch Bhi on EMI feature allows cardholders to convert purchases above INR 2,000 into affordable EMIs without processing fees.
- Dial-a-Loan Facility: The Dial-a-Loan option provides access to loans up to INR 5,00,000 with repayment tenures from 12 to 60 months.
- Balance Transfer: The ability to transfer balances from other bank credit cards up to INR 5,00,000 at competitive interest rates helps cardholders consolidate debt and manage payments more effectively.
- Convenience and Security:
- Contactless Payments: The card’s contactless payment capability ensures quick and secure transactions at POS terminals, reducing the need to carry cash and speeding up checkouts.
- Enhanced Online Security: The 3D Secure OTP verification for online transactions protects against fraud, providing cardholders with confidence when shopping online.
- Supplementary Cards: The option to issue lifetime-free supplementary cards to family members extends the card’s benefits, such as reward points and lounge access, to loved ones.
- Cost-Effective Fee Structure:
- No Joining Fee: The absence of a joining fee makes the Rewards+ Credit Card accessible to new cardholders, allowing them to start earning rewards without an upfront cost.
- Annual Fee Waiver: The INR 1,000 annual fee can be waived by spending INR 3,00,000 or more in the previous year, rewarding active cardholders with cost savings.
- Lifestyle Enhancements:
- Good Life Programme: The Standard Chartered Good Life Programme offers exclusive discounts and offers across dining, shopping, and travel.
- Digital Banking Convenience: Integration with Standard Chartered’s online banking and SC Mobile app allows cardholders to manage their account, track reward points, pay bills, and redeem rewards seamlessly.
- Additional Benefits:
- No Cap on Base Reward Points: The lack of a cap on base reward points allows cardholders to earn unlimited points on retail spends, providing significant value for those who use the card frequently.
- Timely Payment Reminders: The bank sends timely payment reminders to ensure cardholders stay on top of their credit card bills, helping maintain a good credit score and avoid late payment fees.
- Replacement Card Support: In case of a lost or stolen card, Standard Chartered provides prompt customer support to block the card and issue a replacement card, ensuring minimal disruption to the cardholder’s financial activities.