Standard Chartered Ultimate Credit Card Review

At a Glance

Joining Fee	₹5,000 + GST (₹5,900 all-in), with 6,000 reward points back
Annual Fee	₹5,000 + GST (₹5,900 all-in), with 5,000 reward points back
Best Suited For	High spenders who travel abroad, play golf and want a flat 3.33% back on most spends
Reward Type	Reward points, 1 point = ₹1 on the 360° Rewards catalogue

The Standard Chartered Ultimate Credit Card is the bank’s premium card on the Mastercard network. It earns 5 reward points per ₹150, and each point is worth a full ₹1, so most spends return 3.33%.

The fee is ₹5,000 + GST a year, but the bank credits 6,000 points when you pay the joining fee and 5,000 points on every renewal. That leaves the GST as your real yearly cost.

You also get a 2% forex markup, golf every month, domestic lounge visits and Priority Pass. This review checks every figure against the bank’s own terms.

Rewards & Benefits

Reward rate and earn structure

Spend	Reward points	Return
Most retail spends, online and offline	5 per ₹150	3.33%
Utilities, supermarkets, insurance, property management and rent, schools, government	3 per ₹150, no monthly cap	2%
Fuel, ATM withdrawals, fees and finance charges	0	0%
Duty-free stores	5% cashback instead of points, capped at ₹1,000 per statement cycle	5%

The bank does not publish a monthly cap on the 5-point rate. Categories are decided by the merchant category code (MCC) the shop is registered under, so a supermarket inside a mall still earns the lower rate.

Points show in the rewards portal within 3 working days. Supplementary cardholders earn points individually on their own spends.

Redemption and point value

You redeem on the bank’s 360° Rewards portal against products, vouchers and services, and the bank’s terms fix the value at 1 point = ₹1. So ₹1,50,000 of regular spends earns 5,000 points, worth ₹5,000.

Standard Chartered’s tariff page lists a ₹99 handling and courier charge on reward redemptions, so redeem in larger batches rather than every month.

Welcome and renewal benefits

Benefit	Condition
6,000 reward points (₹6,000)	Pay the ₹5,000 joining fee; credited within 60 days
5,000 reward points (₹5,000)	Pay the renewal fee from year two; not given if the fee is converted to EMI

Travel, lounge and golf

Lounge programme	Allowance
Domestic lounges in India (Mastercard)	4 visits per calendar quarter, for primary and each supplementary card
International lounges (Priority Pass)	1 visit a month if you spent over ₹20,000 on the card in the previous month
Extra or guest Priority Pass visits	Charged at up to USD 35 per visit

Priority Pass does not give free entry to lounges inside India, including international terminals. Use the card itself at domestic lounges, or you will be billed for the visit.

The golf programme gives 1 complimentary game and 1 coaching session a month. Games are at listed courses in Mumbai, Bengaluru, Gurugram, Noida, Ahmedabad, Pune, Chennai and Hyderabad, and coaching is also offered in Delhi.

Bookings go through Golflan on 1800-208-7899 at least 4 days ahead. Convenience charges still apply on the free rounds.

Insurance covers

Cover	Amount
Air accident death (international flights paid on the card)	₹1 crore
Emergency medical expenses abroad	USD 25,000 (USD 100 deductible)
Loss of baggage and personal documents	USD 750
Checked baggage loss	USD 500
Flight delay over 12 hours	USD 200
Baggage delay over 12 hours	USD 100
Lost or stolen card	₹25,000

Fees & Charges

Charge	Amount
Joining fee	₹5,000 + GST
Annual fee	₹5,000 + GST from year two
Spend-based fee waiver	None published; renewal points offset the fee
Supplementary cards	Lifetime free
Forex markup	2% + GST
Interest rate	3.75% a month (45% a year)
Cash advance fee	3% of the amount, minimum ₹300
Late payment fee	Nil up to ₹100; ₹100 up to ₹500; ₹500 up to ₹5,000; ₹700 up to ₹10,000; ₹1,200 above ₹10,000
Rent payments	1% processing fee
Fuel surcharge waiver	1% of fuel spends, up to ₹1,000 per statement cycle
Interest-free period	Up to 55 days

Fees are as listed on Standard Chartered’s tariff page and card terms in October 2026, and 18% GST applies on top. There is no spend target to waive the fee.

Instead, the 5,000 renewal points cancel out the ₹5,000 fee, so you are really paying ₹900 of GST a year. Converting the renewal fee to EMI forfeits those points, so pay it in full.

The charge that catches people out is Priority Pass. A visit in a month after you spent under ₹20,000 is billed at up to USD 35, and it can land on your statement up to 90 days later.

Eligibility & Documents Required

Age	21 to 65 years (add-on cardholders 18+)
Income	Stable monthly income; the bank does not publish a minimum
Location	Must live in one of the bank’s card-sourcing cities
Documents	PAN, photo ID, address proof, a photo, latest salary slip (salaried) or latest ITR with business continuity proof (self-employed)

Because no income figure is published, approval rests on the bank’s own credit checks. A strong credit history and a high existing card limit will help.

Pros & Cons

Pros	Cons
3.33% back on most spends, no monthly cap published	₹5,000 fee with no spend-based waiver
Renewal points cover the annual fee	Priority Pass visits need ₹20,000 spends the month before
2% forex markup	No points on fuel; 2% on utilities and insurance
Monthly golf game and coaching session	₹99 charge per redemption

SC Ultimate vs Competitors

Feature	SC Ultimate	SC Rewards	HSBC Visa Platinum
Annual fee	₹5,000, offset by 5,000 points	₹1,000, waived at ₹1.5 lakh	Nil
Base return	3.33%	About 0.67%	About 1.2% via Accor
Forex markup	2%	3.5%	3.5%

Fees are plus GST. Ultimate returns several times more per rupee than the bank’s own Standard Chartered Rewards Credit Card, and it is cheaper abroad.

The HSBC Visa Platinum costs nothing but returns far less. Pick it only if you will not spend enough to make Ultimate’s points count.

How to Apply

Standard Chartered takes Ultimate applications through its branches and contact centre, so visit your nearest branch or call phone banking. Keep your PAN, address proof and income documents ready.

If you already hold the bank’s free Visa Infinite card, the bank says you can ask phone banking to upgrade it to Ultimate.

Frequently Asked Questions

Is the Standard Chartered Ultimate annual fee waived?

No, there is no spend-based waiver on the ₹5,000 + GST fee. You get 5,000 reward points worth ₹5,000 each time you pay it, which offsets the fee.

How many lounge visits does SC Ultimate give?

4 domestic lounge visits per calendar quarter using the card. Abroad you get 1 free Priority Pass visit a month after spending over ₹20,000 in the previous month.

What is 1 SC Ultimate reward point worth?

₹1 when redeemed on the 360° Rewards catalogue. At 5 points per ₹150, that is a 3.33% return on most spends.

What is the forex markup on SC Ultimate?

2% plus GST on every foreign currency transaction, charged when the transaction posts. The bank’s other cards charge 3.5%.

Does SC Ultimate earn points on fuel?

No points are earned on fuel. You get a 1% fuel surcharge waiver instead, up to ₹1,000 per statement cycle.

Do SC Ultimate golf benefits cost anything?

The monthly game and coaching session are free, but convenience charges still apply and must be paid with the card. Book at least 4 days in advance through Golflan.

Bottom Line

Get the Standard Chartered Ultimate if you spend ₹1.5 lakh or more a year on regular retail categories. At 3.33% with no published cap, it pays back its fee many times over.

It is also one of the better choices for overseas spending at 2% markup, and golfers in the listed cities gain a free round every month.

Skip it if most of your spending is fuel, utilities or insurance, where it earns little or nothing. Skip it too if you need Priority Pass every month without spending ₹20,000, or if you live outside the bank’s sourcing cities.