The Standard Chartered Smart Credit Card is a credit card designed for new cardholders or those looking for a no-frills option.
Card Type: Cashback
Cashback
- Earn flat 2% cashback on online spending.
- Earn flat 1% cashback on other spends.
- 5% Cashback on fuel, Phone bills & Utility Bill
- 5% Cashback at supermarket & duty-free spends
- The maximum cashback you can earn in a year is Rs. 18,000 (Rs. 1,000 per month on online spending and Rs. 500 per month on other spending).
- For the initial redemption, a minimum cashback of Rs. 1,000 must be accumulated.
Reward
- 5% reward point for every INR 150 spent at a fine dining outlet on fuel
- 1x reward point for every INR 150 spent on Other Category
Travel
- 20% instant discount on hotel booking with EaseMyTrip variant
- 10% discount on flight tickets with EaseMyTrip Varient free lounge access for one calendar quarter & 2 International per year
Other Reward Benefit
- 20% Off at Myntra with no Minimum spends
- 10% off at growers with no Minimum spends
- 10% od at Zomato with no Minimum spends
- You can convert your transactions into Easy EMI for 3 months
- Attractive interest rate of 0.99% per month on EMI conversions.
- No processing fee for EMI conversions done via net banking or mobile app.
Fees:
- Joining Fee: 499 + Applicable Taxes
- Annual Fee: 499 +Applicable Taxes
- Your annual fee is waived if you spend more than Rs 120,000 in a year.
Required Document
- Pan Card
- Aadhar Card
- Income Proof
- Address Proof
Eligibility criteria:
- Age: 18 to 65 years
- Applicants should have a stable monthly income.
- For Salaried: 30000 Per Month
- For Self-employed: Rs. 6 lakh annual
- Credit Score:750+
Pros & Cons
Pros
- Cashback rewards: You earn cashback on both online and offline spending, with 2% cashback on online purchases and 1% cashback on offline purchases. This can be a good way to save money on everyday spending.
- Easy EMI conversions: The card allows you to convert your purchases into convenient EMIs (Equal Monthly Installments) at a low interest rate of 0.99% per month for 3 months with no processing fee. This can help manage larger purchases.
- Extended interest-free credit period: As a new cardholder, you can enjoy an extended interest-free period of up to 90 days on your purchases if you pay the minimum amount due.
- Wide acceptance: Standard Chartered cards are generally accepted by most merchants in India, both online and offline.
Cons
- Lower cashback rates compared to some cards: The cashback rate, especially for offline purchases, might be lower than what other cards offer.
- Limited reward program: The card doesn’t offer any reward points or miles, and cashback is the only way to earn rewards. This might be less appealing to people who prefer other reward options.
- Annual fee: While not a very high fee compared to some cards, there is an annual fee associated with the card.
- Potential for high fees outside the promotional period: The interest rate on purchases after the promotional period and on cash advances can be high. It’s important to manage your credit responsibly to avoid accruing interest charges.
Overall, the Standard Chartered Smart Credit Card can be a good option for:
- Individuals who value the convenience of EMI options with a low interest rate.
- People who primarily shop online can benefit from the 2% cashback rate.
- Those looking for a card with a wide range of acceptance and an extended interest-free period during the initial months.
However, if you:
- Prioritize high cashback rates, especially on offline purchases.
- Prefer a card with a rewards program offering points, miles, or other benefits besides cashback.
- Are very cost-conscious and want to avoid any annual fees.
Please Read Our other credit card reviews
disclaimer
If there is any change of any kind in the Standard Chartered Smart Earn Credit Card, then CredBanking will not take any responsibility for this because we have obtained the information about this card from the internet and the bank’s website.
