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.

 

[ALOAK]

True. But what is the point if can't redeem those points. It's better to use those cards and just get 1 percentage Cashback.

You do can redeem it keep checking of course from what I have seen since 2004 redemption has gone worse. Vouchers if not available it will be taken out. U can try jewels voucher itc marriot or itc vouchers which has some value. And mostly people go foe myntra amazon vouchers. Of course amazon vouchers are removed in most cards on awards page . Not sure why do they want to do it. Banks sometimes purposely do it.

 

[Virgo]

You do can redeem it keep checking of course from what I have seen since 2004 redemption has gone worse. Vouchers if not available it will be taken out. U can try jewels voucher itc marriot or itc vouchers which has some value. And mostly people go foe myntra amazon vouchers. Of course amazon vouchers are removed in most cards on awards page . Not sure why do they want to do it. Banks sometimes purposely do it.

I think it comes down to plain economics. Banks can source vouchers for hotels (Taj, ITC, Marriott etc), fashion brands (like Peter England, Van Huesen etc), luxury brands (like Jimmy Choo, Boss etc), jewellery brands (Tanishq etc) at a good discount. For vouchers like Amazon Pay, Big Basket etc, there is no/ very low discount and hence it becomes expensive for banks to fund the rewards program.

 

[ALOAK]

You may be right

I think it comes down to plain economics. Banks can source vouchers for hotels (Taj, ITC, Marriott etc), fashion brands (like Peter England, Van Huesen etc), luxury brands (like Jimmy Choo, Boss etc), jewellery brands (Tanishq etc) at a good discount. For vouchers like Amazon Pay, Big Basket etc, there is no/ very low discount and hence it becomes expensive for banks to fund the rewards program.

.

 

[Sacrvn87]

Only thing is that scb ultimate gives you points for all transaction not like axis card where they exclude everything

True. But what is the point if can't redeem those points. It's better to use those cards and just get 1 percentage cashback Io

I think it comes down to plain economics. Banks can source vouchers for hotels (Taj, ITC, Marriott etc), fashion brands (like Peter England, Van Huesen etc), luxury brands (like Jimmy Choo, Boss etc), jewellery brands (Tanishq etc) at a good discount. For vouchers like Amazon Pay, Big Basket etc, there is no/ very low discount and hence it becomes expensive for banks to fund the rewards program.

Exactly. But being a premium card, they should give offer at least a few good vouchers. I previously saw Kalyan Jewel, Croma, Vijay Sales, etc. None of them are available now. I am stuck with 26k points without finding any good voucher. I am waiting for the last 3 months to find something good to redeem and cancel this card.

 

[Virgo]

True. But what is the point if can't redeem those points. It's better to use those cards and just get 1 percentage cashback Io

Exactly. But being a premium card, they should give offer at least a few good vouchers. I previously saw Kalyan Jewel, Croma, Vijay Sales, etc. None of them are available now. I am stuck with 26k points without finding any good voucher. I am waiting for the last 3 months to find something good to redeem and cancel this card.

I am similar shoes except I have a huge trove of points (1L plus). Best use I can see as of now is on Airline or Hotel vouchers only. This card has definitely lost its appeal

 

[sd.ac]

True. But what is the point if can't redeem those points. It's better to use those cards and just get 1 percentage cashback Io

Exactly. But being a premium card, they should give offer at least a few good vouchers. I previously saw Kalyan Jewel, Croma, Vijay Sales, etc. None of them are available now. I am stuck with 26k points without finding any good voucher. I am waiting for the last 3 months to find something good to redeem and cancel this card.

I am similar shoes except I have a huge trove of points (1L plus). Best use I can see as of now is on Airline or Hotel vouchers only. This card has definitely lost its appeal

I agree with both these posts. I waited a long time, then gave up and redeemed my points across a few brands that I think I *may* use and then canceled the card. Too much work to redeem the points...

 

[Sacrvn87]

Did they offer to give it as LTF while cancelling?

I agree with both these posts. I waited a long time, then gave up and redeemed my points across a few brands that I think I *may* use and then canceled the card. Too much work to redeem the point

 

[sd.ac]

Did they offer to give it as LTF while cancelling?

No. They said their offerings (vouchers) could improve over time (could *not* would) and then asked if I would try another product. I was planning to close the card-account anyway because I find cards like Ultimate (and Magnus) require thought and effort to be beneficials (time I am unwilling to put in). Infinia/DCB (assuming some domestic travel) or cashback cards are simpler for straightforward redemptions.

 

[Nubar]

Closed Ultimate card just before 1st renewal. No longer a no-brainer card.

 

[sankar7000]

Closed Ultimate card just before 1st renewal. No longer a no-brainer card.

Closed SC ultimate card as well before 1st renewal. Please do note that you keep 15 calendar days minimum after raising request. You need to do constant follow up for closure of the credit card.

 

[sourpai]

I think it is a decent card for those who are doing advance tax payments. All other cards mostly are useless now.

 

[Wealth is my birth right!]

Guys need your help
Is this card still worth to take It ?
I have DCB and infinia is far from reach
and for me magnus even though i have it's seems not so useful.

@Wealth is my birth right!

For govt payments stanC still give points

 

[Dharm]

For govt payments stanC still give points

Looks like Standard Chartered Smart card is better than ultimate, as it has 499+gst fee, has 2% actual cashback, ultimate now devalued and giving 3 points on 150 spend ( which is 2% also, but not actual cashback, but only in form of vouchers) on most used categories

 

[RupayMan]

Looks like Standard Chartered Smart card is better than ultimate, as it has 499+gst fee, has 2% actual cashback, ultimate now devalued and giving 3 points on 150 spend ( which is 2% also, but not actual cashback, but only in form of vouchers) on most used categories

What is that 2% value compared to ultimate? Each point in ultimate is 1rs, is that same for smart?

 

[Dharm]

What is that 2% value compared to ultimate? Each point in ultimate is 1rs, is that same for smart?

Yes, both are same, but in ultimate you get vouchers for 2% value points in most of spend after devaluation, where as in smart you get actual 2% cashback amount, considering ultimate is premium card compare to smart card

 

[Wealth is my birth right!]

Looks like Standard Chartered Smart card is better than ultimate, as it has 499+gst fee, has 2% actual cashback, ultimate now devalued and giving 3 points on 150 spend ( which is 2% also, but not actual cashback, but only in form of vouchers) on most used categories

Smart have monthly limit of that 2% but ultimate no max shield

 

[Dharm]

Smart have monthly limit of that 2% but ultimate no max shield

Agreed, as ultimate is premium card, so has edge in this, in short smart is good for 100000(50000 online+50000 offline) spend to claim maximum 1500 cashback, and ultimate is for those who has monthly spends above 1 Lacs

 

[Virgo]

Agreed, as ultimate is premium card, so has edge in this, in short smart is good for 100000(50000 online+50000 offline) spend to claim maximum 1500 cashback, and ultimate is for those who has monthly spends above 1 Lacs

Ultimate still gives 3.33% return on wallet loads. That can be used effectively

 

[Dharm]

Ultimate still gives 3.33% return on wallet loads. That can be used effectively

Yes that's true, that is the most useful feature for ultimate cards, very few cards available in market, where we can get that much discount on wallet loads.

My only issue with that card is that we are not getting Amazon vouchers there, and other voucher useful on requirement basis, however Amazon vouchers can be used for payments and shopping both.

Thatswhy I prefer smart card for myself, as I am getting real cashback, if Amazon vouchers are available, then certainly I opt ultimate for myself.

Although still ultimate card is best card for many users, as they can use vouchers for various shopping needs.

 

[naren89]

Has lot of voucher redemption options removed from standard chartered ultimate? can't see spar as well