In the modern world of digital finance there is more to an ability to pay for a good or service now through another day. They include rewards in the form of points or other avails achieved in addition to special privileges. Looking for one credit card that provides rewards for almost all spend categories then thank you, the Standard Chartered Ultimate CC should fit the bill. This card stands out in this context against most credit cards that employ strict restrictions on the ability to spend categories of their own. Not to mention the years-long effort they devote to a well-developed reward system. Here, take a closer look at the following comprehensive guide in order to get fully acquaint with this highly valuable credit card.
Overview of Ultimate CC
The card in focus here is the Standard Chartered Ultimate Credit Card and it falls under the super premium credit card that is target at the high spender who wants to get the best value for their money. Here’s a quick snapshot:
- Type: The idea of super premium credit card envisages the combination of all the aforesaid factors by offering superior benefits and services to the credit card holders.
- Reward Rate: 3. 3%
- Annual Fee: Fee for enrolling 100 learners: 5,000 INR + GST
- Best for: Voucher redemptions may simply involve a company offering a voucher for, say, 10% off a product and customers accepting the voucher with the hope that they will one day use it to get the discount.
- USP: Getting something from somewhere we visited for visiting somewhere else is always appealing and in addition getting reward for all forms of expenditure is also an add advantage that the credit cards offer the clients. On the same lines of HDFC Infinia, this card offers an equally good reward rate along with no constraints on redemption making it one the best card with highest return to spend ratio.
How to Apply Ultimate CC
Application Process
The Standard Chartered Ultimate Credit Card is one of its foremost and most significant credit cards that you can apply for, either online or offline. Nevertheless, in the current world, there is a high rate of reject when one is applying directly for a job.
Alternative Approach
A better way preferred by Standard Chartered Bank for you to be a holder of the SC Ultimate Card is by applying for a Smart Credit Card. Then graduating to the SC Ultimate Card due to the existing credit card relationship between you and the bank. This is done by confirming the SC credit card that you are using at the moment. It becomes easy to secure approval since it factors the limit of credit.
Fees Criteria Of Ultimate Credit Card
Facing certain fees and charges is inevitable. Hence it is important to learn more about the different fees and how to avoid them. Here’s a breakdown of the fees associated with the Standard Chartered Ultimate Credit Card:
- Joining Fee: The approximate cost for creating an interface graphic would be 5,000 INR plus Goods and Services Tax.
- Welcome Benefit: 6,000 points
- Renewal Fee: Min 5000+GST for first meeting of two hours.
- Renewal Benefit: It is state that the system should be able to gain 5,000 points.
Renewal Fee Waiver of Ultimate CC
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Essentially the welcome reward acts as the equivalent of the joining fee as it includes the GST for the first year of the subscription. However, a look at renewal positions will make you realize that you would be short of 1,000 points. Nevertheless, the reward points as one of the welcome benefits are more beneficial vis-a-vis the previous setting on the MMT voucher.
Card Design Of Ultimate CC
Visually, the design of the Ultimate Credit Card from Standard Chartered Bank conveys the message of exclusivity, essentially posh. The card features:
- The setting selected was a shiny black surface which has parts of it gilded.
- Examples of spectacular touches include the symbolic logos such as the Mastercard logo.
Standing as a very colourful and flashy card, this design is further appropriate for a card with such high end benefits that the card presents.
Rewards of Ultimate Credit Card
Reward Rate
The card has a high reward rate of 3 allowing you to earn more points and redeem them for award redemptions, merchandise, and more. 3% on most spends. This rate is relatively high if compared to other credit cards that have limits on accumulating or redeeming the points for a specified amount of spendings.
Select Categories
Starting April 2023, select categories will be reward with around 2% of the original points offer by the transitory MR Program. These categories are rent payments additional of one percent plus GST.
Expiry
Points are deduct after 3 years which is more than enough time needed for customers to use their points in redeeming useful products.
Redemptions
Although this rewards program of the Standard Chartered Ultimate Credit Card does not offer direct point transfers with airlines or hotels. It gives a virtually unlimited list of vouchers. These include:
- Shopping: A list of online clothes stores are Myntra, Nykaa, Pantaloons online store, Levis online store and many more online stores.
- Electronics: Croma
- OTA (Online Travel Agencies): One of the leading online travel agents like MakeMyTrip, EaseMyTrip.
- Hotels: Choose three different Hospitality enterprises, Marriott Hotels, Taj Hotels, ITC Hotels.
- Cabs: Uber
- Airlines: Vistara Vouchers
- Luxury Brands: Those are brands like Luxe, Armani, etc.
Redemption Fees
The amount of 99 INR plus the tax called the GST has to charge every time a ‘redeem’ command is made. This is given though the redemption options are numerous and come with an extensive list of terms and conditions.
Poplar Redemptions
It is quite apparent that spending on Croma vouchers is appreciate by most cardholders especially those who love spending on electronics. The various voucher options in the case of either the hotel. Or the airline service offer immense satisfaction to travel enthusiasts.
For ex Markup Fee
Fee: 2% + GST = 2 This formula reveals that the addition of GST has caused an increase in the total value by 2 percent. 36%
Net Gain
However, aggregation on net foreign currency spends may not be spectacular at 0. 94% is relatively good for those who do not have HDFC Infinia or Axis Reserve Credit Cards. However, when it comes to international transactions you do not have to go scrambling. As the benefits of the Standard Chartered Ultimate Credit Card are not severely off-set.
Domestic Access
- Via: American express is the third widely use card in the world after Visa, Mastercard.
- Limit: One visit per quarter and one additional visit per week
International Access
- Via: Priority Pass
- Limit: The mileage will be approximately 800 kilometers, and the visit will made only once per month
- Spend Criteria: only for those users who have made at least a spend of Rs 20,000/- in the previous one month. .
Despite the fact that the card lacks a relatively large number of available Lounge. It offers enough options for frequent travelers to feel comfortable and receive the services of premium Lounges.
Golf Benefit of Ultimate CC
Complimentary Benefits
- Golf Games: Each participating course receives a maximum of one per month_price per coupon.
- Golf Lessons: Coming in at one per month, the “Applying It All” sessions will held at select coaching locations only.
Additional Benefits
Other additional privileges for owners of the Mastercard variant are 4 Golf games per year and 1 Golf lesson per month. Based on this program proposal, this credit card is highly suitable for Golf lovers.
Other Benefits of Ultimate CC
Duty-Free Spends
- Cashback: For duty-free sales of more than 1,000 airports across the globe, sales commission of 5% was levied.
- Cap: Tax slab for resident individuals is the amount on which the income tax has to paid by a resident individual and it is 1000 INR per month.
Movie Benefit
Offer: Usecard Promotions “Buy 1 Get 1” with Visa Infinite
Fuel Surcharge Waiver
Waiver: The top consumable in terms of spending is fuel, which constitutes 1%.
Rewards: 1 2 3 4 5 6 7 8 9 10 Computer Science Engineering Information Technology Electronics and Communication Engineering Mechanical Engineering Civil Engineering Electrical and Electronics Engineering Electronics and Electronics Engineering None (effective April 2023)
Such additional perks make the value proposal of the card even higher as cardholders receive benefits and can save money in different spending categories.
Eligibility
Income: Interest on 24L p. a. = ITR.
- Other Bank Credit Cards: ‘Minimum credit limit of 5L,’ I added, to prevent any type of practical jokes from business and to let my assumption prove itself right.
- Existing SC Credit Card: Set in Operation , that every department must have a minimum credit limit of 4L.
The criteria of eligibility to this card may differ from that listed above, but it gives the approximate requirement needed to qualify for this type of card.
Conclusion
Therefore, the Standard Chartered Ultimate Credit Card is ideal for anyone keen on earning high returns on his or her spending without having to swipe the card on a shopping spree. Regardless, a person’s preferences may range from a traveler, a shopper, or someone who likes to indulge luxury perks. This card covers a wide range of activities making it suitable to different lifestyles. This card will be very useful for you if you meet the eligibility criteria and are ready for the fees that come along with the card type. As it will increase your financial control and your rewards.
FAQ’s
Ans. The card offers a 3.3% reward rate on most spends, extensive voucher redemption options, complimentary airport lounge access, golf benefits, and a 5% cashback on duty-free transactions.
Ans. The annual fee is 5,000 INR plus GST. You receive 6,000 reward points as a welcome benefit and 5,000 points on renewal.
Ans. Points can be redeemed for a variety of vouchers, including those for shopping, electronics, travel, hotels, and luxury brands. A redemption fee of 99 INR plus GST applies per transaction.
Ans. Eligibility typically requires an annual income of 24 lakh INR. A credit limit of 5 lakh INR on other bank credit cards, or a 4 lakh INR limit on an existing Standard Chartered credit card.
Ans. You can apply online via the Standard Chartered website.
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