Standard Chartered Rewards Credit Card Review: Double Points Above ₹20,000

The Standard Chartered Rewards Credit Card earns 4 reward points per ₹150 on retail spends and doubles that to 8 on the part of each statement cycle above ₹20,000, with bonus points capped at 2,000 a cycle. There is no joining fee, and the ₹1,000 plus GST annual fee from year two is reversed on ₹1,50,000 of spend in the previous year, so it suits a steady, all-round spender rather than a category hunter.

By Anjali Bhargawa · Content Writer Updated 5 November 2026 Reviewed by BankCreds Financial Experts

Key facts

Joining fee: Nil
Annual fee: ₹1,000 + GST. Second-year-onwards annual fee reversed on spends of Rs 1,50,000 or more in the previous year; otherwise 4,000 reward points credited on payment of the fee
Base reward: 4 reward points per Rs 150 on retail spends...
Best category: Retail spends above Rs 20,000 in a statement cycle: Additional 4 bonus reward points per Rs 150
Lounge: Domestic: 1 complimentary domestic lounge visit per calendar quarter (Mastercard programme; 4 a year) International: None
Forex markup: 3.5% of the amount
Network: Mastercard

Apply on Standard Chartered's site

Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.

In short

A plain, honest points card that pays one-card spenders who cross ₹20,000 a cycle, held back by a branch-only application and points worth ₹0.20 to ₹0.25.

Best for

People who put most of their spending, ₹20,000 a cycle or more, on one card
Spenders who reach ₹1,50,000 a year and so keep the card free
Anyone wanting 1 domestic lounge visit a quarter with no spend condition stated

Skip it if

You spend mainly on fuel, which earns no points
You want to apply online, since the card page sends you to a branch or the contact centre
You want a high rate in one category such as dining or online shopping

Highlights

4 points per ₹150 on retail; 4 more per ₹150 above ₹20,000 a cycle, bonus capped at 2,000
1 point = ₹0.25 in the catalogue or ₹0.20 against your bill
No joining fee; ₹1,000 plus GST from year 2, reversed on ₹1,50,000 previous-year spend
4,000 points credited if you pay the annual fee
1 domestic lounge visit per calendar quarter

A one-card points plan from Standard Chartered

The Rewards card is a Mastercard from Standard Chartered, open to new applicants, and it is built for someone who runs most of the month's spending through one card. Every ₹150 of retail spend earns 4 points, and once a statement cycle crosses ₹20,000, the spend above that line earns 4 bonus points per ₹150 more. There's no category to remember, which is the appeal of it.

A point is worth ₹0.25 in SC's Rewards 360 catalogue and ₹0.20 when set against your bill. On those values the base rate is about 0.67% (4 x ₹0.25 divided by 150), rising to about 1.33% on spend above ₹20,000 (8 x ₹0.25 divided by 150).

What matters most

The ₹20,000 line. Below it you're on the base rate only; the further above it you go, up to the bonus cap, the better it pay.
The fee. No joining fee, then ₹1,000 plus GST a year from year two, reversed if you spends ₹1,50,000 or more in the previous year. If it isn't reversed, SC credits 4,000 points when you pay.
Applying. The card page sends you to a branch or the contact centre; there is no online apply link.
Perks. 1 complimentary domestic lounge visit per calendar quarter through Mastercard, 4 a year, but no international lounge are part of the package.

Changes and status

The only dated change in SC's documents for this card is the late fee, which moved to statement-balance slabs on 1 May 2024 for all SC cards. The rest of the bank's lineup are on our Standard Chartered cards page.

Fees and charges on the Rewards card

There is no joining fee. From the second year the annual fee is ₹1,000 plus GST, ₹1,180 at 18% (₹1,000 plus ₹180), and SC reverses it when your spend in the previous year is ₹1,50,000 or more, which is ₹12,500 a month (₹1,50,000 divided by 12). For a card meant to carry all your spends, that is a bar many salaried household can reach.

If you miss the reversal

SC softens a missed waiver: paying the annual fee earns 4,000 reward points. Those are worth ₹1,000 in the catalogue (4,000 x ₹0.25) or ₹800 against the bill (4,000 x ₹0.20), so a paid year really costs ₹180 or ₹380 (₹1,180 minus ₹1,000, or minus ₹800), before the redemption charge. It is one of the more fairer fee designs in this price band.

Supplementary cards is not free from year two: each carries a ₹1,000 renewal fee, reversed on ₹1,50,000 of spend in the previous year.

Interest, minimum due and late fee

Interest is 3.75% a month, 45% a year, from each transaction date once you revolve. The minimum due is whichever is highest among 5% of the statement, ₹250, and the sum of instalments, interest, fees, over-limit and 1% of principal. Late fees go by statement balance: nothing up to ₹100, ₹100 between ₹101 and ₹500, ₹500 between ₹501 and ₹5,000, ₹700 between ₹5,001 and ₹10,000, and ₹1,200 beyond ₹10,000, with ₹100 more if two or more minimums in a row is missed. A ₹40,000 bill paid late cost you ₹1,200 plus GST.

Other charges

Cash withdrawal: 3% with a ₹300 minimum, plus 3.75% a month from the day of withdrawal; ₹15,000 costs ₹450 in fee (3% of ₹15,000).
Overseas transactions: 3.5% transaction fee. The tariff shows no separate fee for wallet loads, utilities or education.
Rent: 1% plus taxes since 2 April 2023. Rent isn't on the excluded list, but the base 4 points per ₹150, about 0.67%, is still less than the fee.
Fuel: 1% surcharge reversal on fills of ₹400 to ₹2,000, up to ₹400 per statement cycle. The card page headline says the waiver is on all fuel spends, but its terms set these limits, and we go by the terms.
Small charges: ₹299 to pay cash at a branch, ₹500 for a bounced cheque, ₹99 a month for a paper statement alongside e-statements, and over-limit at ₹500 or 2.5% (minimum ₹500).

GST is extra on all of these.

SC Rewards: fees and charges

Joining fee	Nil
Annual or renewal fee	₹1,000 + GST
Annual fee waiver	Second-year-onwards annual fee reversed on spends of Rs 1,50,000 or more in the previous year; otherwise 4,000 reward points credited on payment of the fee
Add-on card fee	₹1,000 + GST
GST	Charged on top of the fees and charges listed
In the bank’s words	No joining fee. Annual fee INR 1000 + GST from the second year. Supplementary cards: renewal fee Rs 1,000 from year 2, reversed on Rs 1,50,000 spend.
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	Overseas transactions: 3.5% transaction fee Rental payments (MCC 6513): 1% processing fee plus taxes (from 2 April 2023) Rewards handling/courier charge on reward redemption: Rs 99 Surcharge: Rs 25 or 2.5% on railway; Rs 10 or 1% on petrol (may vary by acquiring bank) Cash repayment at branch: Rs 299 Cheque bounce: Rs 500 Paper statement (if both paper and e-statement): Rs 99 a month Branch service request: Rs 199; non-IVR phone banking: Rs 49 (not for Visa Infinite and Ultimate) Minimum Amount Due: higher of 5% of statement outstanding, or instalments+interest+fees+over-limit+1% of principal, or Rs 250 GST extra on all charges

How Rewards points build up

Retail spends earn 4 base points per ₹150. Government and insurance payments get a reduced 1 point per ₹150, and fuel earn nothing, nor do cash advances, returned or disputed purchases, fees and finance charges. EMI-converted purchases still earn, a small plus, since several cards we review exclude EMI.

The bonus above ₹20,000

In any statement cycle, retail spend above ₹20,000 earns 4 bonus points per ₹150 over the base 4. Bonus points stop at 2,000 a cycle, reached at ₹75,000 of spend above the line (2,000 divided by 4, times ₹150), which means ₹95,000 of retail spend in the cycle (₹75,000 plus ₹20,000). Very few people hits that, so for most users the cap is not the problem; the ₹20,000 starting line is.

What points are worth

Rewards 360 catalogue: 1 point = ₹0.25.
Against your statement balance: 1 point = ₹0.20, from 1,000 points upward in multiples of 100.
Each redemption cost ₹99 plus GST, so ₹116.82 at 18% (₹99 plus ₹17.82).

The documents we read don't say when points expire, so don't sit on a big balance for years. There's no welcome bonus; the only other credit is the 4,000 points when an annual fee is paid.

Three spenders, worked out

One statement cycle	Light: ₹10,000	Typical: ₹30,000	Heavy: ₹60,000
Retail spends	₹7,500	₹26,000	₹52,500
Insurance and government	₹1,500	₹1,500	₹4,500
Fuel, fills of ₹400 to ₹2,000	₹1,000	₹2,500	₹3,000
Base points (4 per ₹150)	200	693	1,400
Bonus points above ₹20,000	0	160	867
Insurance points (1 per ₹150)	10	10	30
Points a year	2,520	10,360	27,560
Catalogue value a year at ₹0.25	₹630	₹2,590	₹6,890
Fuel surcharge back a year	₹120	₹300	₹360
Annual fee from year 2	₹1,180, with 4,000 points back	Reversed	Reversed

Light, ₹10,000 a month. ₹7,500 of retail earns 200 points (₹7,500 divided by 150, times 4) and ₹1,500 of insurance 10 more, so 210 a month and 2,520 a year (210 x 12), worth ₹630 (2,520 x ₹0.25). Yearly spend of ₹1,20,000 (₹10,000 x 12) misses ₹1,50,000, so from year two you pay ₹1,180 and get 4,000 points worth ₹1,000. With ₹120 of fuel surcharge back (₹10 x 12) and one ₹116.82 redemption charge, you end the year about ₹453.18 ahead (₹630 plus ₹1,000 plus ₹120, minus ₹1,180 and ₹116.82).

Typical, ₹30,000 a month. ₹26,000 of retail earns about 693 base points (₹26,000 x 4 divided by 150), and the ₹6,000 above ₹20,000 (₹26,000 minus ₹20,000) earns 160 bonus points (₹6,000 divided by 150, times 4). Over a year that's 10,360 points (8,320 base, 1,920 bonus and 120 insurance, each the monthly figure x 12), worth ₹2,590 (10,360 x ₹0.25). ₹3,60,000 of yearly spend (₹30,000 x 12) reverses the fee, and two ₹1,250 fills return ₹300 a year (₹25 x 12).

Heavy, ₹60,000 a month. ₹52,500 of retail gives 1,400 base points (₹52,500 divided by 150, times 4), and the ₹32,500 above the line (₹52,500 minus ₹20,000) adds about 867 bonus points (₹32,500 x 4 divided by 150), still under the 2,000 cap. A year comes to 27,560 points (16,800 base, 10,400 bonus and 360 insurance, each the monthly figure x 12), so ₹6,890 in the catalogue (27,560 x ₹0.25) or ₹5,512 against the bill (27,560 x ₹0.20). That is about 0.96% of ₹7,20,000 spent (₹60,000 x 12; ₹6,890 divided by ₹7,20,000), and this is where the card become worth having.

SC Rewards: higher-reward categories

Category	Rate	Cap
Retail spends above Rs 20,000 in a statement cycle	Additional 4 bonus reward points per Rs 150	Bonus reward points capped at 2,000 per statement cycle, ₹2,000, statement cycle

SC Rewards: how rewards work

Earned as	Reward points
Base rate	4 reward points per Rs 150 on retail spends (except government, insurance and fuel)
Minimum spend rules	Bonus applies only to retail spend above Rs 20,000 in a statement cycle
No rewards on	fuel cash advances returned, disputed or fraudulent transactions, fees and finance charges
Lower rewards on	Government and insurance payments: 1 reward point per Rs 150
Value of a point	Rewards 360 catalogue: 1 RP = INR 0.25 (for redemption from Rewards catalogue) Statement balance adjustment: 1 RP = INR 0.20; minimum 1,000 points, multiples of 100
Redemption fee	Rs 99 per redemption
Expiry	Not stated
Welcome benefits	None published
Milestone benefits	4,000 reward points on payment of the annual fee if the spend-based reversal is not received
Lounge access	Domestic: 1 complimentary domestic lounge visit per calendar quarter (Mastercard programme; 4 a year) International: None Condition: Rs 25 authorisation for validation (not charged)
Fuel surcharge waiver	1% fuel surcharge reversal on transactions of Rs 400 to Rs 2,000, capped at Rs 400 per statement cycle
Insurance cover	Not listed

Eligibility and how to apply for SC Rewards

Age: 18 to 65 years.
Income: a stable monthly income; SC publishes no figure for this card.
Location: you must live in one of the bank's credit card sourcing cities.

With no income number on the page, you can't tell whether you qualify, which is frustrating on a beginner card. Your best way is ask the branch first.

Documents

PAN, a photo and an ID proof such as a passport or voter ID.
Address: Aadhaar, passport, driving licence, voter ID, NREGA job card or NPR letter.
Income: one month's latest salary slip if salaried; for business owners, the latest ITR with income computation or certified financials, and continuity proof; for professionals, the latest ITR and continuity proof.

How to apply

There's no online application for this card. Its page says to visit your nearest SC branch or calling the contact centre, which is 66014444 with your local STD code, or 080-49248444 or 044-47628444, from 8 am to 8 pm. Slower than an app, but it mean a person can explain the fee and waiver before you sign.

What SC considers

Every application goes through SC's credit and policy checks. Under the RBI's 2025 Directions the bank assesses your credit risk on your own means and looks at the limits you already holds with other lenders. Experian treats a score above 750, on its 300 to 900 range, as generally good. You get a Key Fact Statement with the form, and a rejection must state the specific reasons in writing. Approval rests with SC.

SC Rewards: eligibility and documents

Age (salaried)	18 to 65 years
Age (self-employed)	18 to 65 years
Income (salaried)	Stable monthly income (no figure published)
Income (self-employed)	Stable monthly income (no figure published)
Other conditions	Must live in the bank's credit card sourcing cities
Documents	Identity proof (passport, Voter ID, government ID etc.) PAN card Address proof (Aadhaar, passport, driving licence, Voter ID, NREGA job card, NPR letter) 1 recent passport-size photograph Salaried: latest one month salary slip Self-employed businessmen: latest IT returns with computation of income or certified financials, business continuity proof Self-employed professionals: latest IT returns, business continuity proof
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.

SC Rewards against other all-round points cards

ICICI Bank Coral

The ICICI Bank Coral Credit Card costs ₹500 plus GST a year, and under its terms that year's fee is reversed if you spend ₹1.5 lakh, though the card page words it as a waiver for the next year. It earns 2 points per ₹100, counts grocery spend for points only up to ₹20,000 a cycle, and ICICI publishes no rupee value per point. Lounge access is 1 domestic visit a quarter, but only after ₹75,000 of spend in the previous quarter. Forex is 3.5%, and its RuPay variant works on UPI, which SC Rewards can't.

Kotak League Platinum

The Kotak League Platinum Credit Card runs on a similar idea: 4 points per ₹150, and 8 points per ₹150 once annual spend crosses ₹2 lakh. But a Kotak point is worth ₹0.10 in the catalogue and ₹0.07 as cash, against SC's ₹0.25 and ₹0.20, so the same 4 points gives much less. The fee is ₹499 plus GST, waived on ₹50,000 a year; forex is 3.5% and no lounge is published.

HDFC Bank MoneyBack+

The HDFC Bank MoneyBack+ Credit Card costs ₹500 plus GST, waived on ₹50,000 a year, and pays 10X CashPoints at Amazon, BigBasket, Flipkart, Reliance Smart SuperStore and Swiggy up to 2,500 CashPoints a calendar month, but only 2 CashPoints per ₹200 elsewhere, worth ₹0.20 each as cashback. Forex is 3.5%, and lounge is not there.

Choosing

Choose SC Rewards if your spend is spread out, crosses ₹20,000 a cycle and a branch visit doesn't bother you. Coral suits someone who wants a ₹500 card with UPI, League Platinum makes sense mainly for its low ₹50,000 waiver, and MoneyBack+ is for people whose shopping sit with those five merchants. Compare more on the card finder, our reward cards guide and the credit cards hub.

SC Rewards against similar cards

Term	Rewards Credit Card This card	ICICI Bank Coral Credit Card	League Platinum Credit Card	MoneyBack+ Credit Card
Bank	Standard Chartered	ICICI Bank	Kotak Mahindra Bank (Kotak)	HDFC Bank
Joining fee	Nil	₹500 + GST	₹499 + GST	₹500 + GST
Annual fee and waiver	₹1,000 + GST. Second-year-onwards annual fee reversed on spends of Rs 1,50,000 or more in the previous year; otherwise 4,000 reward points credited on payment of the fee	₹500 + GST. Spend over ₹1.5 lakh and get annual fee waived off for the next year (card page); MITC footnote *** says the fee for the year is reversed on anniversary-year completion	₹499 + GST. Annual fee waived on minimum retail spends of ₹50,000 in a year	₹500 + GST. Renewal fee waived on annual spends of ₹50,000 (MITC)
Base reward	4 reward points per Rs 150 on retail spends...	2 reward points per ₹100 on retail spend	4 Reward Points per ₹150 on all eligible spends up to ₹2 lakh annual spends	2 CashPoints per ₹200 on other spends
Best category	Retail spends above Rs 20,000 in a statement cycle: Additional 4 bonus reward points per Rs 150	No higher-reward category published	Special categories: Travel Agencies & Tour Operators, Package Tour Operators, Airlines and Air Carriers, Electric Sales, Durable Goods, Departmental Stores: 8 Reward Points per ₹150	Amazon, BigBasket, Flipkart, Reliance Smart SuperStore and Swiggy, non-EMI: 10X CashPoints (Aug 2024 T&C: 20 CashPoints per ₹150)
Lounges	Domestic: 1 complimentary domestic lounge visit per calendar quarter (Mastercard programme; 4 a year) International: None	Domestic: 1 domestic airport lounge access per quarter (primary cardholder) on ₹75,000 spend in the preceding quarter; 4 railway lounge accesses a year (1 per quarter) International: None	Not published by the bank	Domestic: None International: None
Forex markup	3.5% of the amount	3.5% of the amount	3.5% of the amount	3.5% of the amount
Network	Mastercard	RuPay	Not stated by the bank	RuPay
Published minimum income	Stable monthly income (no figure published)	₹20,000 a month	Rs.5 Lakhs and above per annum	₹20,000 a month
Status	Taking applications	Taking applications	Taking applications	Taking applications

Frequently asked questions

What is the annual fee on the Standard Chartered Rewards card?

There is no joining fee. From the second year the annual fee is ₹1,000 plus GST, ₹1,180 at 18%, and SC reverses it if you spent ₹1,50,000 or more in the previous year, about ₹12,500 a month. If the fee is charged, SC credits 4,000 reward points, worth ₹1,000 in its catalogue (4,000 x ₹0.25).

How many points does SC Rewards earn, and what are they worth?

Retail spends earn 4 points per ₹150, and spend above ₹20,000 in a statement cycle earns 4 bonus points per ₹150 more, with bonus points capped at 2,000 a cycle. A point is worth ₹0.25 in the Rewards 360 catalogue or ₹0.20 against your bill, so the base rate is about 0.67% (4 x ₹0.25 divided by 150).

Who is eligible for the Standard Chartered Rewards Credit Card?

Applicants aged 18 to 65 who live in one of SC's credit card sourcing cities and have a stable monthly income. SC does not publish a minimum income figure for this card. Every application goes through the bank's credit and policy checks, and the decision is SC's.

Does the SC Rewards card have lounge access?

Yes, 1 complimentary domestic airport lounge visit per calendar quarter, or 4 a year, through Mastercard's programme. The lounge runs a ₹25 authorisation to validate the card, which is not charged. There is no international lounge access, and overseas spends carry a 3.5% fee.

What changed recently on Standard Chartered's Rewards card?

The one dated change in SC's documents is the late payment fee. From 1 May 2024 all SC cards moved to slabs by statement balance, from nil up to ₹100 to ₹1,200 above ₹10,000, plus ₹100 more if the minimum is missed two or more months in a row.

Can I apply for the SC Rewards card online?

Not from the card page. Standard Chartered's Rewards page says to visit the nearest branch or call the contact centre, and offers no online apply link. Keep your PAN, an identity and address proof, a photograph and your latest salary slip or IT return ready, as SC lists these documents for the card.

Sources

Standard Chartered Bank (India): Standard Chartered Rewards Credit Card Terms and Conditions; Credit Card Fees & Charges - Tariffs and Charges; Important Information Document - Rewards Credit Card (F_RTOB_Ver_March2026); Rewards Credit Card FAQs; Rewards Credit Card; 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.