Greater welcome benefit in comparison to joining fee
Standard Chartered Platinum Rewards credit card comes along with the activation benefit of 100% cashback on Restaurant spends in the first 90 days. The maximum cashback you can earn under this benefit is Rs. 500.
This limit surpasses the value of the joining fee charged, that is, Rs. 250. Therefore, in terms of offering welcome benefits, the card has an added advantage of not only offering the welcome benefit despite being a low annual fee card but also offering a benefit greater than the charges.
Easily attainable annual fee waiver
Similar to the joining fee, the annual fee charged on this card is also low, at Rs. 250. However, an added advantage over and above the low annual fee here, is that the card offers an annual fee waiver on spending Rs. 60,000 or above in a year. This means that to avail of this benefit, you need to spend around Rs. 5,000 per month on average. Note that, spending this limit via your credit card is not that big a deal, even when you use your credit card frequently or occasionally.
High rewards on both dining & fuel
The main USP of this credit card is that it offers high rewards on both dining and fuel. For every Rs. 150 spent via this credit card on dining and fuel, you earn 5 reward points. While various cards offer high reward rates that may be inclined towards any specific category, not many cards offer high rewards on a combination of these two categories-dining & fuel. In addition to that, there is no monthly cap on the reward points offered (You must however check the expiry of the vouchers against which you redeem your reward points). Thus, if you are specifically looking for a rewards credit card for combined benefits every time you dine out or spend on fuel, then this card is a good option at a low annual fee of Rs. 250.
Other Benefits
- You can get this card instantly without any physical interaction, via online KYC. On approval, you can also get a virtual credit card.
- The card allows contactless payment for faster checkout and quick processing.
- All transactions done via this card are secured with 3D secure OTP verification.
- This credit card offers EMI on credit card balance transfer, wherein you can convert outstanding amounts up to Rs. 5 Lakh into easy EMI at zero processing fee.
- Lastly, the card comes along Dial-a-loan facility, wherein you can avail of a loan up to Rs. 5 Lakh for flexible tenure, ranging between 12 to 60 months.
