Last reviewed: 9 October 2026. Fees and benefits checked against Standard Chartered India’s official Ultimate Credit Card page, the card’s product terms and conditions, and the bank’s credit card tariffs and charges schedule.
The Standard Chartered Ultimate credit card is the bank’s flagship rewards card, built around a flat reward rate worth about 3.3% on most spends, a low 2% forex markup and a fair set of travel extras. It suits people who spend ₹40,000 or more a month across varied categories, travel abroad a few times a year and want points that convert to rupees at a fixed value instead of a confusing catalogue rate.
Key facts about the Standard Chartered Ultimate credit card
| Feature | Standard Chartered Ultimate Credit Card |
|---|---|
| Joining fee | ₹5,000 plus 18% GST |
| Annual fee | ₹5,000 plus 18% GST every year |
| Fee waiver | No spend based waiver stated; 5,000 reward points (worth ₹5,000) credited when you pay the renewal fee in full |
| Base reward rate | 5 points per ₹150, with 1 point = ₹1, so about ₹3.33 per ₹100 |
| Reduced reward rate | 3 points per ₹150 (about ₹2 per ₹100) on utilities, supermarkets, insurance, rent and property management, schools and government payments |
| Fuel | No reward points; 1% fuel surcharge waiver capped at ₹1,000 per statement cycle |
| Welcome benefit | 6,000 reward points (₹6,000) after the joining fee is paid, credited within 60 days |
| Duty free | 5% cashback, capped at ₹1,000 per statement cycle |
| Lounge access | 4 domestic visits per calendar quarter; Priority Pass membership with 1 free visit a month if you spent over ₹20,000 in the previous month |
| Golf | 1 game and 1 coaching session a month (green fees and charges still payable) |
| Forex markup | 2% on overseas and non INR transactions |
| Network | Mastercard, as listed on the product page |
| Eligibility | Stable income; no minimum income published on the product page |
| Best for | High spenders who want flat, rupee valued rewards and cheaper foreign spending |
GST at 18% applies to the joining fee, annual fee and other charges listed in this review.
What you would actually earn with the Standard Chartered Ultimate credit card
Take a household spending ₹30,000 a month: ₹22,000 on shopping, dining, travel and other regular categories, ₹5,000 on groceries at supermarkets and utility bills, and ₹3,000 on fuel.
- Regular spends: ₹22,000 ÷ 150 × 5 = about 733 points
- Supermarket and utility spends: ₹5,000 ÷ 150 × 3 = 100 points
- Fuel: ₹3,000 earns no points, but the 1% surcharge waiver saves about ₹30
- Monthly total: about 833 points, so 833 × 12 = roughly 10,000 points (₹10,000) a year
- Fuel surcharge saved: ₹30 × 12 = ₹360 a year
- Annual fee with GST: ₹5,000 × 1.18 = ₹5,900
- Year one: ₹10,000 + ₹360 + ₹6,000 welcome points minus ₹5,900 = about ₹10,460
- Year two onwards: ₹10,000 + ₹360 + ₹5,000 renewal points minus ₹5,900 = about ₹9,460
The renewal points do most of the work in cancelling the fee. Without them, the card needs about ₹1.8 lakh a year in regular spends just to earn back ₹5,900. A ₹99 handling charge applies to reward redemptions, so redeem in larger batches.
Getting the most from it
Put travel, dining, shopping and online spends here, since they earn the full 5 points per ₹150. Move rent, insurance and school fees to another card where possible: they earn the lower 3 points and rent also attracts a 1% processing fee plus tax. Spend at least ₹20,000 each month if you want the free Priority Pass visit in the next month. Paying the renewal fee in full, not as an EMI, is what triggers the 5,000 renewal points.
Pros and cons
Pros
- Flat value of ₹1 per point makes the effective 3.33% return easy to track.
- 2% forex markup is well below the 3.5% charged on most Standard Chartered cards.
- Welcome and renewal points broadly offset the ₹5,000 fee each year.
- 4 domestic lounge visits a quarter, monthly golf and ₹1 crore air accident cover.
- 5% duty free cashback is handy on international trips.
Cons
- No spend based fee waiver; you pay ₹5,900 every year.
- Utilities, supermarkets, insurance, rent, schools and government payments earn only 3 points per ₹150.
- No reward points on fuel.
- The free Priority Pass visit depends on spending over ₹20,000 the month before, and other visits are charged in US dollars.
Fees and charges
| Charge | Amount |
|---|---|
| Finance charges | 3.75% a month (45% APR) |
| Late payment fee | Nil up to ₹100; ₹100 for ₹101 to ₹500; ₹500 for ₹501 to ₹5,000; ₹700 for ₹5,001 to ₹10,000; ₹1,200 above ₹10,000 |
| Repeat late payment | Extra ₹100 if the minimum due is missed for two or more months in a row |
| Cash advance fee | 3% of the amount, minimum ₹300 |
| Forex markup | 2% |
| Rent payments | 1% processing fee plus tax |
| Reward redemption fee | ₹99 handling and courier charge |
| Supplementary card | Free |
These figures come from Standard Chartered’s tariffs and charges schedule and the Ultimate product terms. GST applies on top.
Eligibility and documents
Who can apply
The bank asks for a stable income and residence in one of its credit card sourcing cities, and every application goes through credit and policy checks. It does not publish a minimum income for this card, though the ₹5,000 fee means it is aimed at higher earners. Holders of the bank’s free Visa Infinite card can ask phone banking about an upgrade.
Documents
- PAN card and one photo ID such as a passport or voter ID
- Address proof such as Aadhaar, passport or driving licence
- One recent passport size photograph
- Salaried: latest salary slip. Self employed: latest income tax return with income computation and proof of business continuity
How the Standard Chartered Ultimate credit card compares
| Card | Annual fee | Rewards | Forex markup |
|---|---|---|---|
| Standard Chartered Ultimate | ₹5,000 | 5 points per ₹150, 1 point = ₹1 | 2% |
| Standard Chartered Priority Visa Infinite | Nil | 5 points per ₹100 overseas and fashion, 2 points elsewhere | 3.5% |
| Standard Chartered Smart | ₹499 | 2% online, 1% offline cashback, capped | 3.5% |
Priority Banking customers already get a free Visa Infinite card, so the Ultimate makes most sense for people outside that relationship, or for those who value the lower forex fee. If you want a cheaper starting point, the Smart card covers everyday cashback at a tenth of the cost. Our best premium credit cards guide compares options from other banks.
Our verdict
The Ultimate is one of the simpler premium cards in India: a clear 3.33% value on most spends, a 2% forex fee and points that roughly pay for the fee each year. Skip it if most of your spending goes on rent, utilities, insurance or fuel, or if you will not spend at least ₹15,000 to ₹20,000 a month, because the fee then eats most of the value.
How to apply
Apply on Standard Chartered’s official Ultimate Credit Card page. See how we score cards in our rating methodology, and browse more options in our credit cards section.
Frequently asked questions
What is the annual fee on the Standard Chartered Ultimate credit card?
₹5,000 plus GST at joining and again every year. There is no spend based waiver, but paying the renewal fee in full earns 5,000 reward points worth ₹5,000.
How much is one reward point worth?
Standard Chartered values each Ultimate point at ₹1 when redeemed through its 360° Rewards portal, so 5 points per ₹150 works out to roughly 3.33%.
Which spends earn fewer points?
Utilities, supermarkets, insurance, rent and property management, schools and government payments earn 3 points per ₹150. Fuel earns none.
Does the card give free airport lounge access?
Yes. You get 4 domestic lounge visits each calendar quarter. Priority Pass membership is included, with one free visit a month only if you spent more than ₹20,000 on the card in the previous month.
What is the forex markup on the Ultimate card?
2% on overseas and foreign currency transactions, charged at posting. Most other Standard Chartered cards charge 3.5%.
This article is for informational purposes only and does not constitute financial advice. Card terms change often; confirm the latest fees and benefits on the bank’s website before you apply.
