Standard Chartered Rewards Credit Card
The SC Rewards is Standard Chartered's mainstream points card, one of the few in its India range issued on the Mastercard rail rather than Visa. It earns 4 base reward points per ₹150 on retail, and the MIDC adds 4 bonus points per ₹150 on retail purchases "exceeding INR 20,000" per statement cycle — i.e. the bonus applies only to the retail beyond ₹20,000, not the whole cycle, capped at 2,000 bonus points a cycle (≈₹95,000 of total retail). The number that reframes all of it is the point value: Standard Chartered states 1 RP = ₹0.25 in the 360 Rewards catalogue and ₹0.20 against a statement. So 4 points per ₹150 is 0.67%, and the doubled marginal rate above ₹20,000 is 1.33%. Government and insurance payments earn 1 point per ₹150; fuel earns nothing at all. There is no joining fee, and the ₹1,000 renewal waives at ₹1.5 lakh of annual spend.
Key features
What this card is built to do — the highlights that actually matter.
0.67% on Other
4 base RP per ₹150 on retail (~0.67% at 25p). Retail exceeding ₹20,000/statement cycle earns 4 bonus RP per ₹150 on the excess only (capped 2,000 pts/cycle ≈ ₹95,000 total retail) — a ~1.33% marginal rate. Fuel and cash earn nothing.
0.17% on Insurance
1 RP per ₹150 on insurance payments (~0.17% at 25p); does not count toward the ₹20,000 bonus trigger
️ Airport Lounge Access
1 complimentary domestic lounge visit per calendar quarter (4/year) via the Mastercard domestic lounge programme; primary and supplementary cardholders each get their own allocation
Annual Fee Waiver
Fee of ₹1,000 + 18% GST (₹1,180 all-in)/yr fully waived when you spend ₹1,50,000/year
Milestone Bonus
~₹800 in bonus rewards on hitting annual spend milestones
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | reward points | 0.67% | — |
| Insurance | reward points | 0.17% | — |
| Government & Tax | reward points | 0.17% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹1,180 |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Reward redemption fee | ₹99 |
Perks & benefits
Estimated annual value beyond rewards — ~₹5,200/yr in total.
️ lounge access ~ ₹3,200 /yr
1 complimentary domestic lounge visit per calendar quarter (4/year) via the Mastercard domestic lounge programme; primary and supplementary cardholders each get their own allocation
fuel waiver ~ ₹1,200 /yr
1% fuel surcharge waiver on transactions of ₹400–₹2,000, capped at ₹400/month. Note fuel spend itself earns no reward points on this card
milestone bonus ~ ₹800 /yr
4 bonus RP per ₹150 on retail exceeding ₹20,000 per statement cycle (MIDC wording — the excess only), capped at 2,000 bonus points/cycle (≈₹95,000 total retail). Value assumes ~₹30,000/month of retail, i.e. ~267 bonus points a month
Should you get it?
Best for: Existing Standard Chartered customers wanting a simple points card, Retail spenders in the ₹20,000–₹95,000 per month band, Occasional flyers who value a quarterly domestic lounge visit
Mid tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on Other ( 0.67% back).
Frequent travellers benefit from the included airport lounge access.
✓ Pros
- No joining fee, and the ₹1,000 renewal waives at ₹1.5 lakh of annual spend
- Retail beyond ₹20,000 a month earns a doubled ~1.33% marginal rate, up to ≈₹95,000 of total retail
- 1 domestic lounge visit per quarter, allocated to primary and supplementary cardholders separately
- No cap on base reward points
- Paying the renewal fee credits 4,000 points if you miss the spend waiver
✕ Cons
- At SC's own 25-paisa point value the "4X" headline rate is really about 0.67%
- The bonus applies only to retail beyond ₹20,000 a cycle, and is capped at 2,000 points per statement cycle
- Fuel spend earns no reward points at all, and cash advances earn nothing
- Cannot be applied for online — branch visit or contact-centre call only
- A ₹99 redemption fee applies each time points are redeemed
Eligibility & documents
Age
18 –65 years
Min. income
₹25,000 /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 — products, vouchers and services (1 RP = ₹0.25)
🎁 Statement credit against outstanding balance (1 RP = ₹0.20), minimum 1,000 points
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 "4X" headline is 0.67% once you apply SC's own 25-paisa point value; the bonus applies only to retail beyond ₹20,000 a cycle and stops at 2,000 points — roughly ₹95,000 of total monthly retail.
The bottom line
The SC Rewards card delivers transparent value once its reward mechanics are calculated: the advertised 4 points per ₹150 equates to a 0.67% return at a valuation of 25 paisa per point, with the elevated 1.33% marginal rate kicking in solely on retail spends exceeding ₹20,000 per statement cycle up to a 2,000-point bonus ceiling (about ₹95,000 of total retail). Featuring one airport lounge visit per quarter and nil joining charges, it functions as a practical starter option for existing Standard Chartered clients. However, it does not set market benchmarks for reward rates, gives zero points on petrol, and requires contacting customer support or visiting a branch rather than applying online.
Sources & verification
Fees, reward rates, and benefits for the Standard Chartered 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 2023 · 2 changes · last change Apr 2023
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2023 2 changes — 1 cut, 1 neutral
▼ Fee Effective 2 Apr 2023
1% processing fee on rent payments
No processing fee on rent payments → 1% fee on the rent transaction amount
Standard Chartered began levying a 1% processing fee on all rent and rental payments made with its credit cards, effective 2 April 2023. The Rewards card had launched by then, so this bank-wide change applied to it. It makes routing rent through the card uneconomic, since the reward earned rarely covers the fee.
Verification: CardAdvisor Research · Confidence: Reconstructed
◆ Launch Effective Jan 2023
Rewards Credit Card launched
Standard Chartered launched the Rewards Credit Card in India in early 2023 as a mainstream 360 Rewards earner on the Mastercard network. It earns 4 reward points per ₹150 on retail, doubling to 8 points per ₹150 on retail once monthly retail spend crosses ₹20,000 (bonus capped at 2,000 points a cycle), with 1 point per ₹150 on government and insurance and no points on fuel. There is no joining fee and a ₹1,000 renewal from year two, alongside one complimentary domestic lounge visit per quarter.
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.
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Source: Standard Chartered Rewards Credit Card value timeline — CardAdvisor
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Quick summary
Type Mid credit card
Reward rate 0.67%
Best for Existing Standard Chartered customers wanting a simple points card
Joining fee Free
Annual fee ₹1,000
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 7 Aug 2026
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