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SC Ultimate devaluation

  • Thread starter Thread starter Virgo
  • Start date Start date
  • Replies Replies 157
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Virgo

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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.
 
View attachment 76836

Greatest useful vouchers according to Standard Chartered available in their portal as of now..

It required min. 1000 points which means need to spend

- 30K min. spends on Ultimate
Lol is this the full list of vouchers? I don't see a single useful voucher here. Forget Amazon, Flipkart. Even swiggy, Myntra, Zomato is not there. And even the third level like shoppers stop is not there.

Does anyone really use this card anymore?
 
Do you know if they are stopping ultimate card. I tried to upgrade via smart and it was not going through. Then logged into NetBanking and couldn't find this card in the card list either.
 
After devaluation in 2022 itself, i hold this card for 2 years with 1 txn per every 6 month. Got 5k+5k reward points after paying annual fees of 5.9k+5.9k, redeemed last month with ITC worth INR 10k. Just holding this bcoz limit is more than 10 lakhs and support team told that they are bringing better reward structures like redeem points towards flight/hotels etc with 1:1 ratio around Jun'25 . If no changes, will close before renewal.
 
After devaluation in 2022 itself, i hold this card for 2 years with 1 txn per every 6 month. Got 5k+5k reward points after paying annual fees of 5.9k+5.9k, redeemed last month with ITC worth INR 10k. Just holding this bcoz limit is more than 10 lakhs and support team told that they are bringing better reward structures like redeem points towards flight/hotels etc with 1:1 ratio around Jun'25 . If no changes, will close before renewal.
Same lie last year also from SC
 
After devaluation in 2022 itself, i hold this card for 2 years with 1 txn per every 6 month. Got 5k+5k reward points after paying annual fees of 5.9k+5.9k, redeemed last month with ITC worth INR 10k. Just holding this bcoz limit is more than 10 lakhs and support team told that they are bringing better reward structures like redeem points towards flight/hotels etc with 1:1 ratio around Jun'25 . If no changes, will close before renewal.
Distributing this card so easily and then bringing flight/hotels at 1:1 does not add up IMO.
 
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