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Standard Chartered Rewards Credit Cards Features and Benefits

The newly launched SC Rewards Credit Card is primarily targeted at those who love shopping and make the most of their purchases using their credit cards. However, the card has lots of other benefits as well. The following are its most significant features:

Milestone Benefits

• After achieving a monthly milestone spend of Rs. 20,000 (on retail purchases), the cardholders would be eligible to earn 4x bonus Reward Points on all their retail spends.
• You can earn a maximum of 2,000 bonus Reward Points every month.

Travel Benefits

With the Standard Chartered Rewards Credit Card, you also get 1 complimentary domestic lounge access every quarter, i.e. 4 free visits per year.

Fuel Surcharge Waiver

You get a 1% fuel surcharge waiver on all fuel transactions between Rs. 400 and Rs. 2,000. The maximum waiver per month is capped at Rs. 400.

Spend-Based Waiver

The renewal fee of Rs. 1,000 is waived if the cardholder spends Rs. 3 lakhs or more in the previous anniversary year.

SC Rewards Credit Card Reward Points

The reward rates offered by the Standard Chartered Reward Credit Card are as follows:

• You get 4 Reward Points on every spend of Rs. 150 on retail purchases.
• You get 1 Reward Point on every spend of Rs. 150 on government and insurance categories.
• You don’t earn any reward points on fuel purchases and cash withdrawals.

Reward Redemption

The Reward points earned using the StanChart Rewards Credit card can be redeemed against various options as mentioned below:

• For redemption against the products and vouchers available on the Rewards catalog, 1 Reward Point = Re. 0.25.
• For redemption against the card’s statement balance, 1 Reward Point = Re. 0.20.

Standard Chartered Rewards Credit Card Fees and Charges

Some of the very important fees and charges associated with the Standard Chartered Bank Rewards Credit Card are as follows:

• There is no joining fee, but there is a renewal fee of Rs. 1,000 plus applicable taxes, which is charged from the second year. The renewal fee is waived on spending Rs. 3 lakhs or more in the previous year.
• The interest rate on the SC Rewards Credit Card is 3.75% per month.
• The cash advance fee on this credit card is 3% of the cash amount or a minimum of Rs. 300.
• The foreign currency markup fee on the Standard Chartered Rewards Credit Card is 3.5% of the total transaction amount.

SC Rewards Credit Card Eligibility Criteria

There are certain eligibility criteria that need to be fulfilled in order to get approved for a particular credit card. For the Standard Chartered Rewards Credit card, there are a few basic requirements as given below:

• The age of applicants should be between 18 years and 65 years.
• The applicant should have a stable monthly income.
• The applicant should belong to any of the sourcing locations of the Standard Chartered Bank.

Documents Required

The documents required o apply for the Standard Chartered Rewards Credit Card are listed below:

• An Identity Proof, such as Voter’s Id, Passport, or any other government-approved Id.
• PAN Card.
• Passport-sized photograph.
• An address proof, such as an Identity Proof, utility bills, passport, driving license, voter’s Id, etc.

How To Apply For The SC Rewards Credit Card?

If you want to apply for the Standard Chartered Rewards Credit Card, you can do it online or offline at your convenience. To apply offline, make sure that there is a Standard Chartered Bank branch available in your city. Just visit the branch nearest to you and apply for the card by filling out the physical application form. Just make sure that you carry all the necessary documents along with you.

To apply online, follow the below-mentioned steps:

• Click on the Apply Now button on top of the page
• Choose the ‘Rewards Credit Card.’
• Click on apply now and proceed further by filling in all the required details.
• Submit the application form once completed.

Conclusion

The SC Rewards Credit Card can be considered a suitable option for those who prefer to make everyday purchases using their credit card. You can save a lot using this card as it allows you to earn up to 8x Reward Points on your spends (including the base reward rate and milestone rewards).

With the launch of this credit card, Standard Chartered Bank gives direct competition to other reward credit cards in the market, such as the SBI SimplySave Credit Card. If you are looking for a basic credit card with a good reward rate and affordable fee, you must check out the features of the SC Rewards Credit Card and apply for it if it seems to be a good fit.

What are your views on this credit card? Make sire to let us know in the comment section below!