Ultimate Credit Card
Introduced to the market in 2017, the Standard Chartered Ultimate Credit Card swiftly established itself as a formidable contender in the competitive credit card landscape. Tailored specifically for fixed-income individuals, this card was not merely a financial tool but a gateway to a plethora of offers and privileges previously unparalleled in its category.
In the realm of premium credit cards, the Standard Chartered Ultimate faced stiff competition, particularly from heavyweights like ICICI Bank’s Safiro Credit Card and HDFC Bank’s Infinia Credit Card Metal Edition. However, with its distinct offerings, the Ultimate Credit Card carved out its unique space, offering two prestigious variants: the Visa Infinite and the Master Card World.
Eligibility and Application Process
For those considering the Standard Chartered Ultimate Credit Card, there are certain eligibility criteria to meet. Prospective cardholders must fall within the age bracket of 21 to 65 years and showcase a stable, fixed monthly income. Additionally, a satisfactory credit score is imperative to qualify. An interesting facet of the application process is the provision for existing Standard Chartered credit cardholders. If one possesses another Standard Chartered credit card with a surplus limit of Rs 4 lakh or any other card with an added limit of Rs 5 lakh, the pathway to acquiring the Ultimate becomes notably streamlined.
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Financial Implications: Fees and Charges
Like any premium card, the Standard Chartered Ultimate Credit Card comes with certain financial commitments. The enrollment fee stands at Rs 5000, and cardholders are also subjected to an annual fee of Rs.5000, which is further augmented by applicable GST. It’s worth noting that the possibility of expenditure-based exemptions is not on the table.
The financial dynamics of the card extend to its interest rates. Cardholders must navigate a monthly interest rate of 3.75 percent or an annual rate of 45 percent, underscoring the importance of judicious financial management.
Features and Rewards: A Closer Look
The crowning glory of the Standard Chartered Ultimate Credit Card lies in its myriad features and benefits:
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- Welcome Bonus: New cardholders are greeted with a generous welcome bonus of 6,000 reward points upon card activation. These points hold significant value, offering avenues for shopping vouchers or even philanthropic donations via the 360° Rewards program.
- Renewal Rewards: Loyalty is rewarded with 5,000 reward points upon every renewal payment of the annual charges, further sweetening the card’s appeal.
- Reward Points Accumulation: Card usage is incentivized with a reward system where users earn 5 Reward Points for every Rs.150 spent on retail purchases. Additionally, specific categories such as utilities, supermarkets, insurance, and more fetch a rate of 3 reward points for every Rs 150 spent.
- Travel and Lifestyle Perks: For the avid traveler, the card offers a 5% cashback on duty-free store purchases at airports, capped at ₹ 1,000 monthly. Moreover, the luxury of 16 complimentary lounge accesses per year translates to 4 lounge visits every calendar quarter, ensuring that travel is always accompanied by comfort and convenience.
- Fuel Surcharge Waiver: Motorists stand to benefit from a 1% surcharge waiver on all transactions at fuel stations, up to a maximum of Rs.1000 per statement cycle, alleviating some of the financial burdens associated with fuel expenses.
In conclusion, the Standard Chartered Ultimate Credit Card is not just a card but an experience, replete with offers, rewards, and privileges designed to elevate the lifestyle of its discerning users.
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