Standard Chartered Priority Visa Infinite Credit Card – Benefits, Fees & Eligibility

Standard Chartered Priority Visa Infinite Credit Card

Introduction

The Standard Chartered Priority Visa Infinite Credit Card is exclusively offered to Priority Banking clients, providing an exclusive and rewarding experience tailored to match a luxurious lifestyle. This card comes with no membership fee, making its bespoke privileges complimentary for eligible customers. It is designed to offer personalized services and a comprehensive suite of benefits, including a unique rewards program, extensive airport lounge access, and robust insurance coverage.

Welcome Benefits

• The privileges of the Priority Visa Infinite Credit Card are complimentary for Priority Banking clients.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: Rs. 99
• Foreign Currency Markup:
  • 3.5% transaction fee plus charges paid out to Visa/Mastercard for converting overseas transactions into INR.
  • Transactions at merchant establishments registered overseas (even if the merchant is located in India) attract an additional 1% charge from Visa/Mastercard, included as part of the transaction amount.
• Interest Rates (Annualized Percentage Rate - APR), effective 1 May 2021:
  • Monthly interest rate of 3.75% pm, annualized to an APR of 45.00% for Standard Chartered Priority Visa Infinite and Emirates World credit cards.
  • For instant credit card variants, the monthly interest rate is 1.99% pm, annualized to an APR of 23.88%.
  • Cash transactions will also attract an interest rate of 3.75% pm (APR of 45.00%).
• ATM Withdrawal Charges:
  • INR 100 for statement outstanding balance less than or equal to INR 500.
  • INR 350 for statement outstanding balance between INR 501 and INR 2,000.
  • INR 500 for statement outstanding balance between INR 2,001 and INR 4,000.
  • INR 700 for statement outstanding balance between INR 4,001 and INR 20,000.
  • INR 800 for statement outstanding balance greater than INR 20,000.
• Cash Advance Charges: 3% of the withdrawn amount, subject to a minimum of Rs. 300.
• Fuel Surcharge: 1% fuel surcharge is applicable on transactions.
• Late Payment Charges:
  • ₹ 0 for statement outstanding balance less than or equal to ₹ 100.
  • ₹ 100 for statement outstanding balance between ₹ 101 and ₹ 500.
  • ₹ 500 for statement outstanding balance between ₹ 501 and ₹ 5,000.
  • ₹ 700 for statement outstanding balance between ₹ 5,001 and ₹ 10,000.
  • ₹ 800 for statement outstanding balance between ₹ 10,000 and ₹ 25,000.
  • ₹ 1200 for statement outstanding balance greater than ₹ 25,000.
  • Late Payment Charges apply to each card and all installment products (such as Instabuy, Balance Transfer, Dial-a-Loan, etc.) separately if payment is not made by the Payment Due Date.
• Rental Payment Processing Fee:
  • A processing fee of 1% plus taxes would be applicable to all credit card transactions with Merchant Category Code (MCC) 6513 (rental payments).
  • This fee is over and above any charges applied by the merchant.
  • The processing fee was effective from April 02, 2023, and will be levied by the 15th of the next calendar month, with a separate narration in the monthly statement.
• Cash Payment Fee at Branch: INR 100 will be charged per payment transaction for card payments made by depositing cash at any Standard Chartered branch.
• Goods and Services Tax (GST): Will be levied at the applicable rates in force on all taxable supplies with effect from 1 July 2017.

Rewards

• Reward Point Earning Rate:
  • Earn 5 reward points for every INR 100 spent overseas or on retail fashion.
  • Earn 2 reward points for every INR 100 on all other spends.
• Domestic Lounge Access:
  • Enjoy 4 complimentary access per calendar quarter on domestic Lounges in India using your Priority Visa Infinite Credit Card. This is complimentary for all cardholders.
• International Lounge Access:
  • Receive complimentary Priority Pass membership.
  • Benefit from 2 complimentary access per month at international lounges (with Priority Pass) if you are a Funds Under Management (FUM) Qualified Client (meeting INR 30 Lakh at an individual account level, and both primary and supplementary credit cards being active in the calendar month of usage).
  • Otherwise, access to international airport lounges worldwide via Priority Pass is available at a nominal charge of USD 27 per person per visit.
• Golf Benefits:
  • Access 2 complimentary golf games per month at select domestic golf courses, organized by Golflan Technology Solutions Pvt Ltd.
  • Receive 1 complimentary golf coaching session every month.
• Insurance Benefits (provided by HDFC ERGO General Insurance Company Ltd.):
  • Overseas Air Accident Cover: INR 1 Crore for Accidental Death (Air Accidents Only). (Policy No: 2999204852948401000, Deductible: NIL)
  • Travel Insurance (Policy No: 2999204251883002000):
    • Baggage Delay: Up to USD 100 (Maximum USD 10 per 8 hours delay), with a deductible of 12 Hours.
    • Loss of Baggage & Personal Documents: Up to USD 750 (Single Any One Item Limit: USD 30), with NIL deductible.
    • Hijacking: Up to USD 100 (Amount Payable for every 6 Consecutive hours period: USD 75), with a deductible of 24 hours.
    • Flight Delay: Up to USD 200 (Maximum USD 10 per hour delay), with a deductible of 12 Hours.
    • Emergency Medical Expenses: Up to USD 25,000, with a deductible of USD 100.
• Dining Offers: Enjoy discounts and offers on dining through the Standard Chartered Good Life program.

Rewards Redemption Guide

• Reward points earned can be redeemed for shopping vouchers from popular brands (such as Croma, Nykaa, Shoppers Stop) and for charity spends.
• Redemption is done through the Standard Chartered online portal under the 360° rewards program.
• One reward point is equivalent to Re. 1.
• Reward points expire after 3 years from the date of accumulation.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicant’s age should be between 21 and 65 years.
  • Applicant should have a stable monthly income.
  • Applicant should belong to credit card sourcing cities/locations of the bank.
  • Applicant must be a Priority Banking client of Standard Chartered Bank.
  • All applications are subject to credit and other policy checks of the bank.
• Documents Required:
  • General Documents:
    • Identity Proof (Any one of the following Photo cards): Passport, Voter ID Card, Government ID.
    • PAN Card.
    • Address Proof (Any one of the following documents with current residence address): Aadhaar Card, Passport, Driving License, Election/Voter’s ID Card, Job card issued by NREGA (duly signed by an officer of the State Government), or a letter issued by the National Population Register containing details of name and address.
    • 1 recent passport-sized Photograph.
  • Financial Documents for Salaried Individuals:
    • Latest one-month salary slip.
  • Financial Documents for Self-Employed Individuals:
    • Self Employed Businessmen: Latest IT Returns with computation of income/Certified Financials, Last Business Continuity proof.
    • Self Employed Professionals: Latest IT Returns, Business Continuity proof.

Card Review

The Standard Chartered Priority Visa Infinite Credit Card is an exclusive offering, rating 4.2 out of 5 stars. It is specifically designed for and complimentary to Standard Chartered Priority Banking customers, setting it apart from other zero annual fee cards in the market. While it may not feature an overwhelming number of premium benefits compared to some other high-end cards, its zero membership fee makes it a valuable addition for existing Priority Banking clients. The card is best suited for individuals who prioritize travel and shopping, seeking a range of benefits without the burden of annual charges. It provides a solid foundation of rewards, lounge access, and comprehensive insurance that enhances the lifestyle of its target audience.

Important Product Details

• Exclusively reserved for Standard Chartered Priority Banking customers.
• Features a complimentary membership, with no joining or renewal fees.
• Offers a strong rewards program with 5 reward points for every INR 100 spent overseas or on retail fashion, and 2 points on other spends.
• Includes significant travel benefits such as 4 complimentary domestic lounge access per quarter and complimentary Priority Pass membership with potential for 2 complimentary international lounge visits per month for FUM Qualified Clients.
• Provides comprehensive insurance coverage, including INR 1 Crore overseas air accident cover and USD 25,000 for emergency medical expenses.
• Cardholders can enjoy dining discounts through the Standard Chartered Good Life program and golf privileges (2 games, 1 coaching session monthly).
• Facilitates digital payments, secure online transactions, and lifetime free supplementary cards.
• High Annualized Percentage Rate (APR) of 45.00% for standard transactions and cash advances.
• Foreign currency transactions incur a 3.5% markup plus additional Visa/Mastercard charges.
• A processing fee of 1% plus taxes is applicable on rental payments.

Other Details

• Card Network: Visa Infinite.
• Supplementary Credit Cards: Extend the benefits of your credit card to your family members with lifetime free Supplementary credit cards.
• Contactless Credit Card: Enjoy faster checkouts, secure payments, and freedom from cash with contactless transaction capability.
• Secure Online Transactions: Benefit from enhanced security for online transactions through 3D secure OTP verification. The OTP is sent to your registered mobile number and email ID, appearing in lieu of Verified by Visa/Mastercard secure password. If not received, you can request resend or contact phone banking.
• Digital Payment Solutions: Access a wide range of instant payment solutions like BharatQR, Bharat Bill Payment Solution (BBPS), and Samsung Pay.
• Online Banking and Standard Chartered Mobile: Check your card balance and make convenient and instant card payments.
• Kuch Bhi on EMI: Convert big spends above INR 5,000 into easy EMIs with attractive pricing and flexible tenure options via online banking or SC mobile.
• Dial-a-Loan: Get loans on your credit card up to INR 5,00,000 with flexible tenures from 12 to 60 months.
• Balance Transfer: Transfer card balance up to INR 5,00,000 from other bank credit cards at attractive interest rates.
• Credit Card Application Approval Time: Subject to documents being complete and accurate, it should take approximately 9 days to get your credit card approved.
• Minimum Amount Due Obligation: The minimum amount due every month shall be higher than:
  • 5% of statement outstanding, or
  • Sum total of all installments billed, interest, fees, other charges, amount that is over limit, and 1% of the principal, or
  • INR 250.
  • Any unpaid minimum amount due from the previous month will be added to the current month's minimum amount due.
• Insurance Claims Process: For claims related to Air Accident Insurance or Travel Insurance, contact HDFC ERGO’s 24/7 toll-free emergency telephone assistance service:
  • Emergency Medical Expenses Toll-Free: +800 08250825 (International) / 01204507250 (Chargeable).
  • Email: travelclaims@hdfcergo.com, bankclaims@hdfcergo.com.
  • Address: HDFC ERGO General Insurance Company Limited, 5th floor, Tower 1, Stellar IT Park, C-25, Sector-62, Noida, UP, India - 201301.
  • You can also reach out to Standard Chartered Phone Banking services for help and support.
• Customer Care Contact Numbers:
  • For Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, Pune: 3940 4444 / 6601 4444.
  • For Allahabad, Amritsar, Bhopal, Bhubaneswar, Chandigarh, Cochin/Ernakulam, Coimbatore, Indore, Jaipur, Jalandhar, Kanpur, Lucknow, Ludhiana, Nagpur, Patna, Rajkot, Surat, Vadodara: 3940 444 / 6601 444.
  • For Gurgaon, Noida: 011 - 39404444 / 011 - 66014444.
  • For Jalgaon, Guwahati, Cuttack, Mysore, Thiruvananthpuram, Vishakhapatnam, Mathura, Proddatur, Dehradun, Saharanpur: 1800 345 1000.
  • For Siliguri: 1800 345 5000.
  • Email: customer.care@sc.com.
  • Notify immediately if your card is lost, stolen, or misused.
• Credit Card Payment Methods:
  • Bill Desk: Pay from different bank accounts directly to your card account.
  • NEFT / IBFT: Transfer from your bank account to your card account using IFSC code SCBL0036001 and address as MG Road, Mumbai.
  • Visa Money Transfer: For Visa franchisee credit cards, pay through your bank account. Fees may be levied by the initiating bank.
  • Standard Chartered Online Banking: Standard Chartered account holders can pay through an account transfer.
  • NACH (National Automated Clearing House): Set up standing instructions from your account by submitting an NACH form. You are responsible for honoring the debit instruction.
  • Cheque / Draft Payment: Drop a cheque or draft in favor of your Standard Chartered bank card (using your 16-digit card number) into any Standard Chartered cheque collection box. Make payments at least 3 days in advance. For multiple cards/EMI accounts, provide clear instructions for allocation on the reverse of cheques. The bank reserves the right to prioritize payments to overdue accounts.
  • Cash: Cash payments can only be deposited at Standard Chartered branches using teller facilities, attracting an INR 100 charge per transaction.
• Visa Credit Card Payment Service:
  • Allows transfer of funds from your existing Standard Chartered account to any Visa credit card within India.
  • Accessible via online banking; no separate registration required for online banking users.
  • Currently, no charges are levied for this service.
  • Minimum Limit: INR 100 per transfer.
  • Maximum Limit: INR 49,999 per transfer.
  • Per day Transaction Limit: INR 100,000.
  • Funds are usually credited within 3-4 working days from the date of request.
  • Once initiated, a transfer cannot be modified or stopped, and beneficiary card details or transferred amount cannot be changed.
  • Only requires the 16-digit credit card number of the beneficiary card.
  • Only resident bank accounts (not credit cards) can be used to transfer funds via this service.
  • You can pay your own Visa credit card bills using this service.
  • You cannot pay Mastercard credit card bills using this service.
• Terms and Conditions: Links to detailed documents including Credit Card Terms and Conditions, Client Terms and Conditions, Priority Visa Infinite Consolidated Terms and Conditions, and Most Important Document are available on the bank's website.