Rent payment through Standard Chartered Ultimate card - Net Value Back (2.93%) after convenience fee

[kushal]

Upon paying 20,000 rent through cred, i am imposed a convenience fee of Rs 292, Total Rs 20,292. I receive 676 reward points for this transaction worth Rs 676 in vouchers. Also by paying bill through HDFC bill pay i get Rs 203 cashback.

Rent paid = Rs 20292
Rent Supposed to be Paid = Rs 20292
Cashback + Rewards = Rs 879
Net Rent paid = Rs 19413
Net Value back = Rs 587 (2.93%)

I feel this is one of the best payment to pay rent through this card, even after convenience fee, the value back i get is 2.93% which can further be increased if you use Red Giraffe instead of Cred for payment.

 

[Wealth is my birth right!]

Upon paying 20,000 rent through cred, i am imposed a convenience fee of Rs 292, Total Rs 20,292. I receive 676 reward points for this transaction worth Rs 676 in vouchers. Also by paying bill through HDFC bill pay i get Rs 203 cashback.

Rent paid = Rs 20292
Rent Supposed to be Paid = Rs 20292
Cashback + Rewards = Rs 879
Net Rent paid = Rs 19413
Net Value back = Rs 587 (2.93%)

I feel this is one of the best payment to pay rent through this card, even after convenience fee, the value back i get is 2.93% which can further be increased if you use Red Giraffe instead of Cred for payment.

Getting ultimate is not easy
Red giraffe for the reduced fee we need proper registered rental agreement

 

[kushal]

Getting ultimate is not easy
Red giraffe for the reduced fee we need proper registered rental agreement

I know bro thats why I use Cred for payment.

 

[Wealth is my birth right!]

I know bro thats why I use Cred for payment.

got it
Thanks for sharing
Money rotators won’t have agreements lol

 

[tsj49]

Upon paying 20,000 rent through cred, i am imposed a convenience fee of Rs 292, Total Rs 20,292. I receive 676 reward points for this transaction worth Rs 676 in vouchers. Also by paying bill through HDFC bill pay i get Rs 203 cashback.

Rent paid = Rs 20292
Rent Supposed to be Paid = Rs 20292
Cashback + Rewards = Rs 879
Net Rent paid = Rs 19413
Net Value back = Rs 587 (2.93%)

I feel this is one of the best payment to pay rent through this card, even after convenience fee, the value back i get is 2.93% which can further be increased if you use Red Giraffe instead of Cred for payment.

Thanks for sharing this way of getting max. reward. Can you please help me understand this "Also by paying bill through HDFC bill pay i get Rs 203 cashback."? How did you get 203 cashback?

 

[AmitMishra]

Thanks for sharing this way of getting max. reward. Can you please help me understand this "Also by paying bill through HDFC bill pay i get Rs 203 cashback."? How did you get 203 cashback?

If you have HDFC platinum debit card then you can use HDFC bill pay to pay other bank credit card bill by using your debit card which will give you 1% cashback.

 

[WhoU]

Getting ultimate is not easy
Red giraffe for the reduced fee we need proper registered rental agreement

Yeah I have DCB with 11L limit, still my scb ultimate got rejected lol.

 

[Wealth is my birth right!]

Yeah I have DCB with 11L limit, still my scb ultimate got rejected lol.

Lol
i think other banks every month have target to get no of applications approved whereas worst SCB’s having target towards rejection
My long time desire is ultimate card but fingers crossed every time when applied

 

[FinoGuy]

Lol
i think other banks every month have target to get no of applications approved whereas worst SCB’s having target towards rejection
My long time desire is ultimate card but fingers crossed every time when applied

Is there ltf concept in scb? or all cards are paid (am asking in general, not for special customers with high NRV)

 

[Wealth is my birth right!]

Is there ltf concept in scb? or all cards are paid (am asking in general, not for special customers with high NRV)

All paid only
They start from 250 to 5k
But depending upon card variant they give some spending based waiver which is possible
I got it last year
This year didn’t used scb card much due to magnus and sbi cashback cards so I’ve to pay annual fee to scb

 

[FinoGuy]

All paid only
They start from 250 to 5k
But depending upon card variant they give some spending based waiver which is possible
I got it last year
This year didn’t used scb card much due to magnus and sbi cashback cards so I’ve to pay annual fee to scb

I find it baseless to get another paid card after having cashback card. Maybe amex for wallet txns.. I don't c any added advantage in paying for any other card if ones annual spends are within 12L. & s/he is not into airmiles business.. Another thing I noticed is lack of good redemption options +redemption fee in scb.. Do you hold ultimate or SE card ? What Is waiver criteria for ultimate?

 

[Wealth is my birth right!]

I find it baseless to get another paid card after having cashback card. Maybe amex for wallet txns.. I don't c any added advantage in paying for any other card if ones annual spends are within 12L. & s/he is not into airmiles business.. Another thing I noticed is lack of good redemption options +redemption fee in scb.. Do you hold ultimate or SE card ? What Is waiver criteria for ultimate?

I own Manhattan card in scb and I maintain it to get a limit of 4lac so that I can upgrade easily to ultimate
FYI my current Manhattan limit is 2.49lac and per annum 999+gst fee waived by 1.2lac spend
Reg ur final query there’s no waiver for ultimate card even if u spend 30lacs in it
Just to pay fee and get equivalent shopping vouchers which doesn’t include amazon and Flipkart

 

[AmitMishra]

I own Manhattan card in scb and I maintain it to get a limit of 4lac so that I can upgrade easily to ultimate
FYI my current Manhattan limit is 2.49lac and per annum 999+gst fee waived by 2.5 lac spend
Reg ur final query there’s no waiver for ultimate card even if u spend 30lacs in it
Just to pay fee and get equivalent shopping vouchers which doesn’t include amazon and Flipkart

Annual fee waiver on Manhattan is on spend ₹1.2 lakh per year not ₹2.5 lakh.

There is no joining fee and annual fee waiver on Ultimate but you will get 6000 RP as welcome benefits and 5000 RP on paining renewal fee.

So, second year onwards you will end up paying gst only, fee is getting back as reward point.

 

[Wealth is my birth right!]

Annual fee waiver on Manhattan is on spend ₹1.2 lakh per year not ₹2.5 lakh.

There is no joining fee and annual fee waiver on Ultimate but you will get 6000 RP as welcome benefits and 5000 RP on paining renewal fee.

So, second year onwards you will end up paying gst only, fee is getting back as reward point.

Thanks edited my post

 

[professor]

I own Manhattan card in scb and I maintain it to get a limit of 4lac so that I can upgrade easily to ultimate
FYI my current Manhattan limit is 2.49lac and per annum 999+gst fee waived by 1.2lac spend
Reg ur final query there’s no waiver for ultimate card even if u spend 30lacs in it
Just to pay fee and get equivalent shopping vouchers which doesn’t include amazon and Flipkart

Speak to SCB cc. I just got upgraded to ultimate. I had 3.2 limit on Manhattan

 

[AmitMishra]

Speak to SCB cc. I just got upgraded to ultimate. I had 3.2 limit on Manhattan

When did you requested for it ?

 

[professor]

When did you requested for it ?

today

 

[tsj49]

I own Manhattan card in scb and I maintain it to get a limit of 4lac so that I can upgrade easily to ultimate
FYI my current Manhattan limit is 2.49lac and per annum 999+gst fee waived by 1.2lac spend
Reg ur final query there’s no waiver for ultimate card even if u spend 30lacs in it
Just to pay fee and get equivalent shopping vouchers which doesn’t include amazon and Flipkart

I have DCB with 9.24L limit, got a call for SCB ultimate card. Still confused about taking that.
Can you please share your perspective for it? I may be missing some points where it can be used effectively better.
PS: I have Magnus and MRCC.

 

[arnalghosh88]

Upon paying 20,000 rent through cred, i am imposed a convenience fee of Rs 292, Total Rs 20,292. I receive 676 reward points for this transaction worth Rs 676 in vouchers. Also by paying bill through HDFC bill pay i get Rs 203 cashback.

Rent paid = Rs 20292
Rent Supposed to be Paid = Rs 20292
Cashback + Rewards = Rs 879
Net Rent paid = Rs 19413
Net Value back = Rs 587 (2.93%)

I feel this is one of the best payment to pay rent through this card, even after convenience fee, the value back i get is 2.93% which can further be increased if you use Red Giraffe instead of Cred for payment.

2.89%[(net valueback÷total spend)×100]

 

[Wealth is my birth right!]

I have DCB with 9.24L limit, got a call for SCB ultimate card. Still confused about taking that.
Can you please share your perspective for it? I may be missing some points where it can be used effectively better.
PS: I have Magnus and MRCC.

I too hold both of the cards which u said I mean magnus with mrcc and also Amex gold card plus SBI cb card I have but still if I get ultimate I will happily take it and use for fuel pumps and other pos transactions which will give flat 3.3%