SC Ultimate devaluation

[Virgo]

Standard Chartered has also joined the recent trend of devaluing credit cards. Their most prized no frills card, Ultimate, will now face following restrictions effective 2nd April 2023:

1)​ Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.​

2)​ No reward points will be earned on Fuel transactions. However, you will now enjoy a surcharge waiver of 1% on fuel spends. Fuel surcharge waiver amount will be capped at INR 1000 per month.​

3) 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards.

Point number 3 will be applicable for all SC credit cards.

This puts an end to one of the best no frills card I have held so far.

 

[BlueBr@t]

I believe it is still better than most of the cards which has gone through devaluation in recent times. Given that it is still providing something on utilities, insurance and rent payment is better than nothing. The thing to remember is that it still gives a rupee for one reward point.
I believe all other transactions will have the same 3.33% return?

 

[vysakh]

Let's take a moment and laugh at all the people who applied for SC ultimate last month when Axis announced the devaluation plans for the magnus.

 

[Virgo]

Let's take a moment and laugh at all the people who applied for SC ultimate last month when Axis announced the devaluation plans for the magnus.

Haha

 

[Virgo]

I believe it is still better than most of the cards which has gone through devaluation in recent times. Given that it is still providing something on utilities, insurance and rent payment is better than nothing. The thing to remember is that it still gives a rupee for one reward point.
I believe all other transactions will have the same 3.33% return?

I agree. 2% reward rate is still better than most banks who have completely stopped giving any rewards on these categories.

All other transactions will continue to earn the default rewards points at 3.33%

 

[ADITYA1904]

I agree. 2% reward rate is still better than most banks who have completely stopped giving any rewards on these categories.

All other transactions will continue to earn the default rewards points at 3.33%

yes right said…its better than nothing

 

[sgoyal9]

Its still better than the other cards. Looking to apply for this in the near future as my primary card. Used to use Magnus as the primary but because rent payments are going to both be charged as well as not counted for the milestone, it means that I can only close the milestone in the month with a big purchase.

This means Magnus is not good as a primary card because the default rate of 1.2% is terrible.

Worst case even if all your spends are in the devalued categories, this gives you overall rate of 2%? It is better than almost anything else still.

 

[thunderbolt]

Let's take a moment and laugh at all the people who applied for SC ultimate last month when Axis announced the devaluation plans for the magnus.

I’ll prefer Ultimate over Magnus bcoz of RP on advance tax payment, only indigo flights in my route.

 

[Pavancs]

Standard Chartered has also joined the recent trend of devaluing credit cards. Their most prized no frills card, Ultimate, will now face following restrictions effective 2nd April 2023:

​ 1)​ Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.​

​ 2)​ No reward points will be earned on Fuel transactions. However, you will now enjoy a surcharge waiver of 1% on fuel spends. Fuel surcharge waiver amount will be capped at INR 1000 per month.​

3) 1% processing fee (plus applicable taxes) for rental payments made using Standard Chartered credit cards.

Point number 3 will be applicable for all SC credit cards.

This puts an end to one of the best no frills card I have held so far.

I was about to apply for this card. Good i didn't

 

[Ram1]

Bhatatnxt transactions considered as rent?

 

[Lord Of Darkness]

Wallet loads will still be at 3.3% ? or is this excluded?

 

[Wealth is my birth right!]

Wallet loads will still be at 3.3% ? or is this excluded?

As usual reward points will be given

 

[saikatCC]

2% in many of these categories is not worth it since they anyway attract additional charges till almost 2%. for e.g. property management mygate charges almost 2% for paying via card so while getting 3.3% still made some sense, with only 2% points it doesnt. Even school fees attract more than 1% charges for paying via CC.

Also wanted to know if the Rs 150 minimum spend to earn points is still valid now that its 2%. Or will i earn even if i spend a 100 bucks.

 

[Virgo]

2% in many of these categories is not worth it since they anyway attract additional charges till almost 2%. for e.g. property management mygate charges almost 2% for paying via card so while getting 3.3% still made some sense, with only 2% points it doesnt. Even school fees attract more than 1% charges for paying via CC.

Also wanted to know if the Rs 150 minimum spend to earn points is still valid now that its 2%. Or will i earn even if i spend a 100 bucks.

150 criteria continues…it’s either 3 points or 5 points per 150 that you earn depending on the type of spend

 

[MohanKumarS]

More than the devaluation itself, he biggest concern for me is the removal of some of the useful vouchers under redemption (likes of Tanishq) ... any idea if any of the removed vouchers will find its way back in future, thanks

 

[Wealth is my birth right!]

More than the devaluation itself, he biggest concern for me is the removal of some of the useful vouchers under redemption (likes of Tanishq) ... any idea if any of the removed vouchers will find its way back in future, thanks

Unable to see pantaloons last week so opted for max shop vouchers
Looks like we have to change brands to adhere with stanC 😊

 

[soumendunanda]

I agree. 2% reward rate is still better than most banks who have completely stopped giving any rewards on these categories.

All other transactions will continue to earn the default rewards points at 3.33%

I don't personally like any of the gift voucher option available,can anyone suggest any good voucher which can be resold easily with good value?

 

[soumendunanda]

Unable to see pantaloons last week so opted for max shop vouchers
Looks like we have to change brands to adhere with stanC 😊

Any voucher that could be resold?

 

[Virgo]

I don't personally like any of the gift voucher option available,can anyone suggest any good voucher which can be resold easily with good value?

I have never tried reselling any voucher so can’t advise on that. Some of ones which I believe I can still use are all travel related eg Vistara, Taj, ITC, Marriott

 

[RupayMan]

Any voucher that could be resold?

I doubt that.. if u have kids in home, use firstcry or hamleys