Standard Chartered Platinum Rewards Credit Card
The Platinum Rewards is Standard Chartered's zero-fee entry card, and the version being issued today is the "instant" variant — the bank's own terms confirm all fees are nil and that Platinum Rewards is currently the only card it issues on the instant rail. It earns 5 reward points per ₹150 on dining and on fuel, with no monthly cap on either, and 1 point per ₹150 on everything else. At Standard Chartered's own valuation of 25 paisa a point — the figure implied exactly by the value chart on its own product page — that is roughly 0.83% on dining and fuel and 0.17% elsewhere. Modest, but it costs nothing to hold, and rewarding fuel at all makes it unusual. There is no lounge access and no welcome offer, though lifetime free supplementary cards are available for family members. An older ₹250-a-year version of this card still exists in the fee tables for legacy holders.
Key features
What this card is built to do — the highlights that actually matter.
0.83% on Dining
5 RP per ₹150 on dining (~0.83% at 25p), no monthly cap. Earn depends on the outlet's Visa merchant category code — outlets not registered under dining MCCs will not trigger the 5x.
0.83% on Fuel
5 RP per ₹150 on fuel (~0.83% at 25p), no monthly cap — unusual, as most cards exclude fuel from rewards entirely. Depends on the station's Visa merchant category code.
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Dining | reward points | 0.83% | — |
| Fuel | reward points | 0.83% | — |
| Other | reward points | 0.17% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 1.99% p.m. |
| Forex markup | 3.5% |
Should you get it?
Best for: Drivers wanting a free card that actually rewards petrol, Frequent diners looking for a no-cost second card, First-time applicants who want to start without a fee
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Dining ( 0.83% back).
✓ Pros
- Genuinely zero joining and annual fee on the currently-issued variant
- 5x on fuel with no monthly cap — a category most cards refuse to reward
- 5x on dining with no monthly cap
- Low ₹20,000 monthly income bar
- Nothing to justify — a free card cannot fail to earn its fee
✕ Cons
- Base earn outside dining and fuel is a token 0.17% at SC's 25-paisa point value
- No lounge access, no welcome offer and no milestone benefits
- A one-time ₹250 + GST fee applies if you make no transaction of ₹500 or more within 30 days of set-up
- The zero-fee offer applies to applications submitted through the digital channel, and not to existing SC cardholders
- The 5x depends on the merchant's Visa category code, so some fuel pumps and restaurants will not trigger it
Eligibility & documents
Age
21 –65 years
Min. income
₹20,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Identity proof — passport, voter ID or government photo ID
- Address proof — Aadhaar, passport, driving licence or voter ID
- Latest one month salary slip (salaried) or latest ITR / certified financials (self-employed)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 360 Rewards catalogue — vouchers, gift cards and products
What your Standard Chartered Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit BEST Standard redemption
Gift voucher catalogue BEST Brand & e-gift vouchers
The concern The earn rate is thin — 0.17% outside dining and fuel — and there is no lounge access and no welcome offer on the zero-fee instant variant.
The bottom line
The principal appeal of the Platinum Rewards card lies in its status as a lifetime-free card that continues to offer uncapped reward points on fuel spending. While the effective earn rate is modest—yielding 0.83% on dining and fuel and 0.17% on other spends at 25 paise per point—there are no ongoing maintenance costs, and the 5x multiplier carries no monthly limit. It functions adequately as a no-cost secondary card for fuel and restaurants, provided you execute a qualifying transaction of ₹500 or more within 30 days of card setup to avoid a one-time inactivity charge of ₹250 plus GST.
Sources & verification
Fees, reward rates, and benefits for the Standard Chartered Platinum Rewards Credit Card are taken from Standard Chartered 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 7 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for Standard Chartered . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2021 · 1 changes · last change Apr 2023
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2023 1 change — 1 cut
▼ Fee Effective 2 Apr 2023
1% processing fee on rent payments
No processing fee on rent paid via the card → 1% fee on every rental transaction
Standard Chartered began levying a 1% processing fee on all rent and rental payments made through its credit cards from 2 April 2023. This is a bank-wide change that applies to the Platinum Rewards, which was already in market well before that date, so anyone routing rent through the card now pays 1% on each such transaction.
Verification: CardAdvisor Research · Confidence: Reconstructed
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
Embed this timeline on your site Free to use. Facts only — dates, changes and before/after values. Please keep the credit line below the frame: it's the only part search engines can see, and it's what we ask for in return.
Source: Standard Chartered Platinum Rewards Credit Card value timeline — CardAdvisor
“ Cite this timeline Quoting a date or a before/after figure? Copy the HTML version — it credits the record with a working link.
HTML (with link) Plain text Copy
Source: Standard Chartered Platinum Rewards Credit Card value timeline , CardAdvisor (CC BY 4.0).
Want to know if this beats your current card for your spending?
Apply now → Compare with my profile
Applications are submitted to and decided by Standard Chartered . CardAdvisor does not issue cards or process applications.
Find your best card
Answer 5 questions. Get a personalised shortlist with ₹ value estimates.
Find my card →
Quick summary
Type Entry credit card
Reward rate 0.17%–0.83%
Best for Drivers wanting a free card that actually rewards petrol
Joining fee Free
Annual fee Lifetime free
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 7 Aug 2026
How we research →
Useful links
Rewards calculator
Estimate any card’s annual value
Points valuations
What each point is really worth
Latest card changes
Live fee & reward-rate tracker
Market insights
The Indian card landscape
Card data study 2026
280 cards analysed — August 2026
Frequently asked questions
Check your eligibility for this card
Answer a few quick questions and our team will reach out with matching card offers based on your profile.