Standard Chartered Super Value Titanium Credit Card – Benefits, Fees & Eligibility

Introduction

The Standard Chartered Super Value Titanium Credit Card, issued by Standard Chartered Bank, is positioned as a mid-range credit card, particularly beneficial for individuals with significant spending on fuel, telephone, and utility bills. Its top differentiating benefits include a generous 5% cashback on these essential categories, along with earning 1 reward point for every ₹150 spent on other expenses. For its esteemed Premium Banking Customers, the card offers a complimentary Priority Pass membership, providing access to international airport lounges.

Welcome Benefits

• Receive 100% cashback, up to ₹1,500, on all fuel transactions made within the first 90 days after card issuance.

Fees

• Joining Fee: ₹750 plus GST.
• Renewal Fee: ₹750 plus GST, applicable from the second year onwards.
• Spend-Based Waiver: The annual fee is waived if you spend ₹90,000 or more in the previous year.
• Premium Banking Customers: No annual or joining fee for Premium Banking Customers.
• Rewards Redemption Fee: ₹99 per redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount for all overseas transactions.
• Interest Rates: 3.49% per month (41.88% per annum).
• Fuel Surcharge:
  • Effective August 25, 2024, the 1% fuel surcharge waiver on this credit card will be discontinued.
  • The existing 4% cashback on fuel spends will be increased to 5% from the same date, with a monthly cap of INR 200, and credited to the R360 portal.
• Cash Advance Charges: 3% of the transacted amount, subject to a minimum of ₹300.
• Rental Payments Processing Fee:
  • A processing fee of 1% (plus taxes) is applicable to all rental transactions (Merchant Category Code 6513).
  • This fee is over and above any charges applied by the merchant.
  • Effective from April 02, 2023.
  • The processing fee is levied by the 15th of the next calendar month and appears as a separate narration in the monthly statement.

Rewards

• Cashback on Fuel:
  • Earn 5% cashback on fuel spends at all fuel stations.
  • Maximum cashback is ₹200 per month.
  • Maximum cashback is ₹100 per transaction.
  • Applicable for transactions of ₹2,000 or below.
• Cashback on Phone Bills:
  • Get 5% cashback on telephone bills.
  • Maximum cashback is ₹200 per month.
  • Maximum cashback is ₹100 per transaction.
  • Applicable for transaction amounts above ₹750.
  • Cashback is applicable for telecom transactions, including recharging SIM cards.
• Cashback on Utility Bills:
  • Receive 5% cashback on paying for utility bills.
  • Maximum cashback is ₹100 per month.
  • Maximum cashback is ₹100 per transaction.
  • Minimum transaction amount is ₹750.
  • Utility categories for cashback include Electricity, Water, and Gas.
• Total Cashback Cap: Total cashback across all categories (fuel, telephone, utility bills) is capped at ₹500 per month.
• Rewards on Other Spends: Earn 1 reward point for every ₹150 spent on all other eligible categories.
• Movies & Dining: Enjoy exclusive discounts and offers with the Standard Chartered Good Life programme.
• Travel Benefits:
  • Complimentary Priority Pass membership for Premium Banking Customers.
  • Provides access to over 1,000+ international airport lounges globally.
• International Lounge Access:
  • Premium Banking clients are eligible for 1 complimentary international lounge access (outside India) per month using Priority Pass.
  • Eligibility is subject to FUM (Funds Under Management) qualification of INR 15 lakhs at an individual account level or having a monthly salary credit of INR 1.5 lakhs or above, based on Premium Banking programme qualification criteria.
• Domestic Lounge Access: There is no domestic lounge access offered on this credit card.
• Supplementary Credit Cards: Avail a lifetime free supplementary credit card for your loved ones. There will not be a separate credit card limit for the add-on card.
• Card Network: The Super Value Titanium Credit Card is offered on the Mastercard Network.
• Annual Benefits (Estimated):
  • Cashback on Fuel, Utility & Telecom Bill Payment (assuming Avg INR 1,20,000 per Year @ 5% Cashback): INR 6,000
  • Rewards Points on Other Annual Spend (assuming Avg INR 1,80,000 per Year @ 1 Reward Point per INR 150): INR 300
  • Annual Fee Reversal on meeting INR 90,000 spends: INR 750
  • Total Estimated Annual Benefit: INR 7,050

Rewards Redemption Guide

• Redeem your reward points through the Standard Chartered 360° rewards program.
• Reward points can be redeemed for vouchers, discounts, and other offers from the catalogue.
• 1 Reward Point is equivalent to Re. 0.25.
• A minimum cashback balance of ₹1,000 is required for cashback redemption requests.
• Cashback can only be redeemed in multiples of ₹500 (e.g., ₹1,500, ₹2,000).
• To place a reward redemption request, you must have a minimum of 500 reward points.
• Reward points are redeemable only against products, vouchers, or services featured in the 360 Rewards catalog.

Card Eligibility Criteria

• Age:
  • Applicant’s age should be between 21 and 65 years.
  • Minimum age for an add-on cardholder is 18 years.
• Monthly Income:
  • Applicants should have a stable monthly income.
  • A minimum monthly income of INR 55,000 is required.
• Other Requirements:
  • Applicants should belong to credit card sourcing cities/locations of the Bank.
  • All applications are subject to credit and other policy checks of the Bank.
  • Applicants should have a decent credit history.

Documents Required

• Identity Proof (Any One of the following Photo cards): Passport, Voter ID Card, Government ID, etc.
• 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, The letter issued by the National Population Register containing details of name, address.
• 1 recent passport-sized Photograph
• Financial documents for salaried: Latest one month salary slip.
• Financial documents for self-employed businessmen: Latest IT Returns with computation of income /Certified Financials, Last Business Continuity proof.
• Financial documents for self-employed professionals: Latest IT Returns, Business Continuity proof.

Card Review

The Standard Chartered Super Value Titanium Credit Card is an excellent choice for individuals who frequently incur expenses on fuel, utility bills, and telephone bills, offering a significant 5% cashback on these categories. It also provides a welcome benefit of 100% cashback up to ₹1,500 on fuel purchases within the first 90 days. For Premium Banking Customers, the card offers exceptional value as it is lifetime free and includes a complimentary Priority Pass membership for international lounge access. While it provides substantial savings on specific categories and a decent reward rate on others, the discontinuation of the fuel surcharge waiver from August 25, 2024, is a point to note. Overall, it is best suited for those looking to maximize savings on essential recurring expenses and for Standard Chartered's premium clientele.

Important Product Details

• No annual or joining fee for Premium Banking Customers.
• 100% cashback up to ₹1,500 on fuel purchases in the first 90 days of card issuance.
• 5% cashback per month on fuel, utility bill payments, and phone bills.
• 1 reward point on every ₹150 spent on all other categories.
• Complimentary Priority Pass membership for Premium Banking Customers.
• Annual fee waiver on spending ₹90,000 or more in the previous year.
• Instant approval on application and online KYC through video (VKYC) from the comfort of your home.
• Contactless credit card for simple, secure payments.
• Enhanced security for online transactions through 3D secure OTP verification.
• Supports a wide range of instant digital payment solutions including UPI, BharatQR, Bharat bill payment solution, IMPS, and Samsung Pay.
• Online banking and the SC Mobile app allow users to check card balance and make instant payments.
• Kuch Bhi on EMI: Convert all spends above INR 2,000 into easy EMIs with attractive pricing and flexible tenure options.
• Dial-a-loan: Instantly avail loans on your credit card for up to INR 5,00,000, with tenures ranging from 12 to 60 months, starting at an interest rate of 0.99% per month.
• Balance Transfer: Transfer other bank credit card balances of up to INR 5,00,000 at an attractive interest rate of just 0.99% per month for the first 6 months.
• Balance on EMI: Convert your entire outstanding credit card balance of up to INR 5,00,000 into convenient EMIs with zero processing fees charged by Standard Chartered Bank.
• A virtual Super Value Titanium credit card is available, which is an online replication of the physical card, usable instantly for online shopping.

Other Details

• Standard Chartered Bank recommends using their bill pay platforms to get cashback on utility and telephone bills.
• The Merchant Category Code (MCC) 6513 is considered for rental payments.
• General terms and conditions for credit cards, client terms and conditions, and specific terms for Super Value Titanium and Premium Banking Clients are available via links on the bank's website.
• Most Important Documents (MIDC) for both Super Value Titanium and Premium Super Value Titanium are also available.
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