Standard Chartered Platinum Rewards Credit Card Review: 5X on Dining, Fuel
The Standard Chartered Platinum Rewards Credit Card has no joining or annual fee when you apply through the bank's digital channel, and it earns 5 reward points per ₹150 on dining and fuel and 1 point per ₹150 on everything else. At ₹0.25 a point that is about 0.83% back on dining and fuel (5 x ₹0.25 divided by 150), so it suits a first-time cardholder on ₹20,000 a month better than a big spender.
Key facts
- Joining fee
- Nil
- Annual fee
- Nil
- Base reward
- 1 reward point for every Rs 150 spent on other categories
- Best category
- Fine dining outlets: 5 reward points per Rs 150
- Lounge
- Domestic: None listed International: None listed
- Forex markup
- 3.5% of the amount
- Network
- Visa
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
A low-barrier, no-fee starter card whose 5X on dining and fuel is useful but modest, and whose fee needs confirming because the bank's own pages disagree.
Best for
- First-time applicants with a gross monthly income of ₹20,000 or more in SC's sourcing cities
- People whose main card spends are restaurants and fuel
- Anyone who will apply online and wants no annual fee
Skip it if
- You already hold a Standard Chartered credit card, as the free offer is for new card customers
- Most of your spending is online shopping or groceries, which earn 1 point per ₹150
- You want lounge access or a low forex mark-up
Highlights
- Zero joining and annual fee for digital applications, per SC's terms document
- One-time ₹250 plus GST if you spend under ₹500 in the first 30 days
- 5 points per ₹150 on dining and fuel with no monthly cap; 1 point per ₹150 elsewhere
- 1 point = ₹0.25 in the Rewards 360 catalogue; ₹99 handling charge per redemption
- Age 21 to 65, gross monthly income ₹20,000
A free starter card from Standard Chartered
Platinum Rewards is Standard Chartered's entry-level Visa card, open for new applications. Applied for through the bank's digital channel, it has no joining or renewal fee under its terms document. The income asked is a gross ₹20,000 a month, which make it far easier to qualify for than, say, HSBC's free Visa Platinum at ₹6,00,000 a year.
The trade-off is a thin earn rate outside two categories. Dining and fuel get 5 points per ₹150 with no monthly cap; everything else get 1 point per ₹150. Each points is worth ₹0.25 in the Rewards 360 catalogue.
Three things to know first
- The fee wording. SC's terms document and card page say ₹0 to join and renew for digital applications, with a one-time ₹250 plus GST if you don't make a ₹500 transaction within 30 days. The card page FAQ and SC's tariff table still list ₹250 a year. The bank's pages differ, so confirm in writing which one applies to you.
- What 5X is worth. About 0.83% back (5 x ₹0.25 = ₹1.25 per ₹150), fine on a restaurant bill but less than the 1% petrol surcharge on SC's tariff.
- Who can take the free offer. Only new SC credit card customers, and it comes without any joining benefit.
Changes since 2024
The dated change in SC's papers is the late fee, which moved to statement-balance slabs on 1 May 2024 for every SC card. The 5X list also differ between documents: a June 2024 terms PDF names hotels, restaurants and fuel, while the newer terms and card page say dining and fuel only, so we don't count hotels. The full SC range is on our Standard Chartered cards page.
What Platinum Rewards costs, and where SC's pages disagree
SC gives two answers on the fee. Its Important Information Document and the card page put the first-year and renewal fees at ₹0 for digital applications, with one catch: a one-time ₹250 plus GST, ₹295 at 18% (₹250 plus ₹45), if no transaction of ₹500 or more is made within 30 days of card set-up. A single ₹500 purchase in the first month avoid it.
The FAQ on the same card page, and SC's tariff table, still says ₹250 for year one and ₹250 from year two. We follow the terms document; check your welcome kit and first statements to be sure. Billed at ₹250 a year, it would cost ₹295 a year with GST. Supplementary cards are free in both versions.
Interest and the minimum due
Interest is 3.75% a month, an APR of 45%, charging from the transaction date. The minimum due is the greatest of: 5% of what's outstanding on the statement; EMIs, interest, fees and any over-limit sum plus 1% of the principal; or ₹250. On a ₹20,000 bill the 5% route alone is ₹1,000, so expect at least that.
Late fee slabs since 1 May 2024
| Statement balance | Late fee |
|---|---|
| Up to ₹100 | Nil |
| ₹101 to ₹500 | ₹100 |
| ₹501 to ₹5,000 | ₹500 |
| ₹5,001 to ₹10,000 | ₹700 |
| Above ₹10,000 | ₹1,200 |
Miss the minimum for two months or more in a row and another ₹100 is added. A ₹7,500 balance paid late therefore cost ₹700 plus GST.
Other charges
- ATM cash: 3% of the amount, minimum ₹300, plus 3.75% a month from the same day. A ₹5,000 withdrawal costs ₹300, because 3% is only ₹150.
- Overseas spends: 3.5% transaction fee.
- Rent (MCC 6513): 1% plus taxes since 2 April 2023. Rent isn't on the excluded list we read, but 1 point per ₹150 is worth about 0.17% (₹0.25 divided by 150), so you lose on every rent payment.
- Petrol surcharge ₹10 or 1%, whichever is higher, and railway ₹25 or 2.5%, with no waiver listed for this card. SC's tariff shows no separate fee on wallet loads, utilities or education.
- Branch cash repayment ₹299, cheque bounce ₹500, paper statement ₹99 a month alongside e-statements, and over-limit ₹500 or 2.5% of the excess, minimum ₹500.
GST is extra on every charge.
SC Platinum Rewards: fees and charges
| Joining fee | Nil |
|---|---|
| Annual or renewal fee | Nil |
| Annual fee waiver | Zero joining and annual fee for applications made through the bank's digital channel; one-time fee of Rs 250 + GST if no transaction of Rs 500 or more within 30 days of card set-up |
| Add-on card fee | Nil |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | First Year Fee - INR 0, Renewal Fee - INR 0 (MITC); one-time fee Rs 250 + GST if the Rs 500 spend condition is not met. Supplementary cards free. |
| Interest on unpaid balances | Up to 3.75% a month (45% a year) |
| Late payment fee | Rs 0 if statement balance up to Rs 100; Rs 100 for Rs 101 to Rs 500; Rs 500 for Rs 501 to Rs 5,000; Rs 700 for Rs 5,001 to Rs 10,000; Rs 1,200 above Rs 10,000 (w.e.f. 1 May 2024); plus Rs 100 if the Minimum Amount Due is missed for 2 or more consecutive months |
| Cash withdrawal | ATM withdrawals: 3% of the amount, minimum Rs 300; interest 3.75% a month from the date of transaction |
| Over-limit fee | Rs 500 per instance or 2.5% of the over-limit amount (minimum Rs 500) |
| Forex markup | 3.5% of the amount |
| Other fees |
|
Earning and spending Platinum Rewards points
Every ₹150 spent at dining outlets or on fuel earn 5 points, and every ₹150 elsewhere earns 1. There's no monthly cap on the 5X, so a big restaurant month is fully counted. Cash advances, fees, finance charges and returned, disputed or charged-back transactions earn nothing.
SC publishes one rupee value: 1 point is worth ₹0.25 in the Rewards 360 catalogue. That's about 0.83% back on dining and fuel and about 0.17% on the rest. Each redemption carries a ₹99 handling and courier charge plus GST, ₹116.82 at 18% (₹99 plus ₹17.82), so saving up and redeem once a year beats small, frequent redemptions.
The card page's own illustration fits the arithmetic: about ₹60,000 a year at restaurants and on fuel earns roughly ₹500, because ₹60,000 divided by 150 is 400, times 5 is 2,000 points, and 2,000 x ₹0.25 is ₹500. SC doesn't state when points expire, so don't leave a balance for years without asking.
The fuel catch
Fuel sits in the 5X list, but SC's tariff adds a petrol surcharge of 1% (₹10 minimum, and it may vary by acquiring bank) and lists no waiver here. On ₹3,000 of fuel you earn 100 points, worth ₹25, and pay ₹30 of surcharge (1% of ₹3,000). The 5X softens the surcharge without covering it, it doesn't make fuel profitable.
There is no welcome or milestone benefit on the free offer. The older June 2024 terms mention 100% cashback up to ₹500 at restaurants within 90 days, but only for customers who paid a joining fee, which digital applicants doesn't.
Three spenders, worked out
| Monthly spend | Light: ₹12,000 | Typical: ₹30,000 | Heavy: ₹60,000 |
|---|---|---|---|
| Dining | ₹3,000 | ₹6,000 | ₹12,000 |
| Fuel | ₹1,500 | ₹4,500 | ₹7,500 |
| Everything else | ₹7,500 | ₹19,500 | ₹40,500 |
| Dining points (5 per ₹150) | 100 | 200 | 400 |
| Fuel points (5 per ₹150) | 50 | 150 | 250 |
| Other points (1 per ₹150) | 50 | 130 | 270 |
| Points a month | 200 | 480 | 920 |
| Points a year | 2,400 | 5,760 | 11,040 |
| Catalogue value a year at ₹0.25 | ₹600 | ₹1,440 | ₹2,760 |
| After one ₹116.82 redemption charge | ₹483.18 | ₹1,323.18 | ₹2,643.18 |
Light, ₹12,000 a month. 200 points a month (100 dining, 50 fuel and 50 other) is 2,400 a year (200 x 12), worth ₹600 (2,400 x ₹0.25), or ₹483.18 after one redemption charge (₹600 minus ₹116.82). With no annual fee, all of that is yours only. If the ₹250 fee in SC's FAQ were applied, ₹295 with GST, you'd keep ₹188.18 (₹483.18 minus ₹295).
Typical, ₹30,000 a month. 480 points a month (200 dining, 150 fuel and 130 other, that last being ₹19,500 divided by 150) gives 5,760 a year (480 x 12), so ₹1,440, or ₹1,323.18 after the handling charge. The ₹4,500 of fuel earns ₹37.50 of points a month (150 x ₹0.25) but cost ₹45 in surcharge (1% of ₹4,500), a small leak that the dining points more than covers.
Heavy, ₹60,000 a month. 920 points a month (400 plus 250 plus 270, the 270 being ₹40,500 divided by 150) is 11,040 a year (920 x 12), ₹2,760 in value or ₹2,643.18 net. That's only about 0.38% of ₹7,20,000 of yearly spend (₹60,000 x 12; ₹2,760 divided by ₹7,20,000), so a heavy spender is better served by a card with a higher base rate, keeping this one for restaurants.
SC Platinum Rewards: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| Fine dining outlets | 5 reward points per Rs 150 | No monthly cap |
| Fuel | 5 reward points per Rs 150 | No monthly cap |
SC Platinum Rewards: how rewards work
| Earned as | Reward points |
|---|---|
| Base rate | 1 reward point for every Rs 150 spent on other categories |
| Minimum spend rules | Not published by the bank |
| No rewards on |
|
| Lower rewards on | None published |
| Value of a point |
|
| Redemption fee | Tariff lists Rs 99 reward redemption handling charge |
| Expiry | Not stated |
| Welcome benefits | None published |
| Milestone benefits | None published |
| Lounge access | Domestic: None listed International: None listed |
| Fuel surcharge waiver | No waiver listed; petrol surcharge Rs 10 or 1% (fuel earns 5X points) |
| Insurance cover | Not listed |
Eligibility and applying for Platinum Rewards
- Age between 21 and 65, salaried or self-employed.
- Gross monthly income of ₹20,000 under the qualifying criteria in SC's terms document, or ₹2,40,000 a year (₹20,000 x 12).
- A home address in one of the bank's credit card sourcing cities.
- For the free offer, you must not already hold a Standard Chartered credit card.
Papers to keep ready
PAN, one passport-size photo, an identity proof (passport, voter ID or government ID) and an address proof such as Aadhaar, a driving licence, an NREGA job card or an NPR letter. Salaried applicants adds the latest one month salary slip. Self-employed businessmen needs the latest IT return with income computation or certified financials and business continuity proof; professionals, the latest IT return and continuity proof.
How to apply
Platinum Rewards is one of the SC cards you can apply for online, with video KYC. That matter here, because the zero-fee terms cover only digital applications. Video KYC is a live video call with a bank official, which the RBI accepts on par with meeting in person.
What SC will check
All SC applications go through credit and policy checks. The RBI's 2025 Directions asks the bank to judge you on your independent means and count the credit limits you hold elsewhere. On the 300 to 900 scale, a CRIF score above 700 or an Experian score above 750 is generally considered good. A refusal must come with the specific reasons in writing, and the decision is always the bank's.
SC Platinum Rewards: eligibility and documents
| Age (salaried) | 21 to 65 years |
|---|---|
| Age (self-employed) | 21 to 65 years |
| Income (salaried) | Gross monthly income Rs 20,000 (MITC qualifying criteria) |
| Income (self-employed) | Gross monthly income Rs 20,000 (MITC qualifying criteria) |
| Other conditions | Must live in the bank's credit card sourcing cities; offer not for existing SC credit card holders |
| Documents |
|
| How to apply | Online for some cards (Platinum Rewards, with video KYC) at sc.bank.in; for Smart, Ultimate and Rewards the card pages say 'Visit nearest branch or call contact center'. Cards only in the bank's credit card sourcing cities. |
| Card customer care | Personal banking helpline 66014444 (prefix local STD code) / 080-49248444 / 044-47628444, 8 am to 8 pm; toll free 1800 258 6465 to report unauthorised transactions |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Is Platinum Rewards right for you?
It fits best as a first card. The ₹20,000 income bar is within reach for many young earners, the fee is nil if you apply online, and the 5X on restaurants pays a little back on the spends what most first-jobbers make. It also starts a credit record at no cost, as an activated card is reported to the credit bureaus.
For a seasoned spender it is weak. 0.17% on online shopping and groceries is very low, the ₹99 redemption charge bites into small balances, and point expiry isn't stated. There's no lounge and the overseas fee is 3.5%, so travel is not it's strong side. For online spends, SC's own Smart card pays 2% cashback, up to ₹1,000 a statement cycle.
Skip it if you already hold an SC credit card, because the free offer is only for new SC card customers, or if you mostly shop online. And don't treat the 5X as a fuel card: with a 1% surcharge and no waiver listed, every fill still cost you a little. Restaurant-heavy spenders can find more options in our dining credit cards guide.
Pros
- No joining or annual fee for digital applications under SC's terms document
- 5 points per ₹150 on dining and fuel with no monthly cap
- Low published income bar of ₹20,000 gross a month, from age 21
- Free supplementary cards
- Can be applied for online with video KYC
Cons
- Only 1 point per ₹150 outside dining and fuel, about 0.17% back
- ₹99 plus GST handling charge on every redemption, and no stated point expiry
- SC's FAQ and tariff table still list a ₹250 annual fee, so the bank's pages differ
- No fuel surcharge waiver, so the 1% petrol surcharge outweighs the fuel points
- No lounge access and a 3.5% overseas transaction fee
- Free offer closed to existing SC credit card holders, with no welcome benefit
How it compares with other free and low-fee cards
HSBC Visa Platinum
The HSBC Visa Platinum Credit Card is free with no conditions and earns 2 points per ₹150, with most airlines converting 2 points to 1 mile, though HSBC publishes no rupee value. Unlike Platinum Rewards it waives the 1% fuel surcharge on fills of ₹400 to ₹4,000, up to ₹250 a month. Forex is 3.5% and no lounge is listed. The catch is eligibility: ₹6,00,000 a year salaried, and only in 21 cities.
IDFC FIRST Millennia
The IDFC FIRST Millennia Credit Card is lifetime free and earns 3 points per ₹200 as base and 10 per ₹200 on dining, travel and birthday spends, at ₹0.25 a point, so dining works out to 1.25% against Platinum Rewards' 0.83%. Forex is zero from 9 September 2026, the fuel waiver gives up to ₹200 a statement cycle, and it asks ₹3 lakh a year.
SimplySAVE SBI Card
The SimplySAVE SBI Card charges ₹499 plus GST, reversed on ₹1,00,000 of yearly spend, and earns 10 points per ₹150 on dining, movies, departmental stores and grocery, up to 5,000 points a month, then 1 point per ₹150. Redeemed against the bill at ₹0.25 a point, that's about 1.67% in those categories (10 x ₹0.25 divided by 150). Fuel earn nothing, but the surcharge is waived on ₹500 to ₹3,000 fills, up to ₹100 a cycle; forex is 3.5% and no lounge is listed.
Which to pick
Platinum Rewards is for someone near the ₹20,000 income mark who wants no fee and eats out. FIRST Millennia pays more on dining for a ₹3 lakh income, HSBC Visa Platinum suits a higher earner in an HSBC city who want miles and a fuel waiver, and SimplySAVE beats them on groceries if a ₹499 fee is fine. More options are on our lifetime-free cards page and the credit cards hub.
SC Platinum Rewards against similar cards
| Term | Platinum Rewards Credit Card This card | HSBC Visa Platinum Credit Card | FIRST Millennia Credit Card | SimplySAVE SBI Card |
|---|---|---|---|---|
| Bank | Standard Chartered | HSBC India | IDFC FIRST Bank | SBI Card |
| Joining fee | Nil | Nil | Nil | ₹499 + GST |
| Annual fee and waiver | Nil | Nil | Nil | ₹499 + GST. Renewal Fee is reversed if annual spends for last year >= Rs. 1,00,000. |
| Base reward | 1 reward point for every Rs 150 spent on other categories | 2 reward points for every Rs 150 spent | 3X Reward Points on eligible spends (about 0.375% value) | 1 Reward Point per Rs. 150 spent on all other spends (about 0.17% value) |
| Best category | Fine dining outlets: 5 reward points per Rs 150 | Hotels, flights and car rentals booked through HSBC Travel with Points: Up to 6X reward points | Hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app: about 5% value | Dining, movies, departmental stores, grocery and supermarkets: about 1.67% value |
| Lounges | Domestic: None listed International: None listed | Domestic: None listed International: None listed | Domestic: No airport lounge. 4 complimentary railway lounge visits every quarter. International: None | Domestic: None listed on card page International: None listed on card page |
| Forex markup | 3.5% of the amount | 3.5% of the amount | 0% (no markup) | 3.5% of the amount |
| Network | Visa | Visa | Not stated by the bank | Visa, Mastercard, RuPay |
| Published minimum income | ₹20,000 a month | ₹50,000 a month | ₹25,000 a month | Stable income; SBI Card says the specific minimum varies by card and does not... |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
Is the Standard Chartered Platinum Rewards card really lifetime free?
What is a Platinum Rewards point worth?
Who can apply for the Standard Chartered Platinum Rewards card?
Does Platinum Rewards come with lounge access or a fuel surcharge waiver?
What has changed on Standard Chartered's Platinum Rewards card recently?
How do I avoid the one-time ₹250 fee on Platinum Rewards?
Related
- Standard Chartered Credit Cards 2026: Smart, EaseMyTrip and Ultimate
- HSBC Visa Platinum Credit Card Review: No Fee, 2 Points per ₹150 Spent
- FIRST Millennia Credit Card Review: Free for Life, 10X on Food and Travel
- SimplySAVE SBI Card Review: 10X on Groceries, Dining and Movies
- Best Lifetime Free Credit Cards in India 2026: Zero Fee in the MITC
Sources
- Standard Chartered Bank (India): Credit Card Fees & Charges - Tariffs and Charges; Standard Chartered Platinum Rewards Credit Card Terms and Conditions (June 2024, read from page image); Important Information Document - Platinum Rewards (PRCXC_RTOB_Ver_2609); Platinum Rewards Credit Card; Platinum Rewards Credit Card FAQs; Important Information Document - EaseMyTrip Credit Card (Card_RTOB_Ver_March2026); Phone Banking
Last verified: 5 November 2026
Written by Anjali Bhargawa, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.