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Change of Reward points structure for SC Ultimate devaluation from 2 April 2023

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https://www.sc.com/in/credit-cards/ultimatecred...

From April 2nd, 2023, transactions on Ultimate credit card for Utilities, Supermarkets, Insurance, Property management, Schools & Government payments will now earn 3 reward points on every INR150 spent

Dear client, from 2 Apr'23, your StanChart Ultimate credit card will earn 3 reward points on every INR 150 spent on select categories. Now, enjoy 1% surcharge waiver on fuel transactions. Please note that no reward points will be earned on fuel transactions. Know more: bit.ly/41AlY0n


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guest_999 wrote:

@Scorpion

Ya bro.raised closing request.

Got the card in Last Feb, and accumulated RPs for 40K (not redeemed once) in intention to redeem against Jewellery GVs. But Jewellery GVs are taken out from 360rewards portal 2 months back and not returned yet.

Card is due for renewal, so was in a dilemma whether to continue with the card or not for last 2 weeks. This devaluation makes it easy to decide.

From the time got magnus 4 months back, usage of Ultimate is next to NIL. Since have many cards in portfolio, No point in holding Ultimate (even only 900 gst we are paying from our pocket).

Since already hold Smart and Digismart from same bank, Cibil wont impact.

Reward points redeemed for Croma gvs (will sell at some discount) and Total outstanding paid and sent mail for closure of card.
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SCB ultimate credit card devaluation -

Utilities, Super markets, Insurance, Property Management, Schools & Govt payments will now earn 3 reward points per 150 spend.

No reward points on fuel spend. however you will get surcharge wavier 1% upto 1000 per month.

A processing fee of 1% (plus taxes) would be applicable to all rental transactions.

Source - https://www.sc.com/in/credit-cards/ultimatecred...

and Rent payment 1%+GST charges - https://www.sc.com/in/credit-cards/rentalpaymen...

imagepicker5579890684015650345

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Dear client, from 2 Apr'23, processing fee of 1% (plus taxes) will be applicable for Rental payments made using StanChart credit cards. Know more:bit.ly/3kBWFdP

https://www.sc.com/in/credit-cards/rentalpaymen...

Screenshot20230301162813FairEmail

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FAQs on Rental processing fee

What merchant categories will be considered as rental payments?
Credit card transactions with Merchant Category Code (MCC) 6513, 7349 are covered under Rental Payments.

A Merchant Category Code (MCC) is a four-digit number assigned to a merchant/business by the merchant’s acquiring bank. These are defined by networks e.g. Visa, MasterCard.

What is the processing fee for rental payments?
A processing fee of 1% (plus taxes) would be applicable to all rental transactions. This fee will be over and above any charges applied by the merchant as communicated to the client at the time of transaction.

For example – If you pay INR 20,000 on a third-party rent payment platform using your Standard Chartered Bank Credit Card, 1% of transaction amount i.e. INR 200 plus taxes will be charged as a processing fee

When will this processing fee be effective from?
Processing fee on rental payments will be effective from April 02, 2023.

When will this fee get levied?
The processing fee will be levied by 15th of the next calendar month and will have a separate narration in the monthly statement.

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Sabka number aayega smile

Benevolent Benevolent
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@drupal tweet karne band karo ab

Deal Cadet Deal Cadet
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Hey Dimers,

Important Information if you hold an SCB Ultimate Card.

This Credit Card is finally going for devaluation. In the end, All the good things come to an end.

SCBdevalue

Deal Subedar Deal Subedar
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Omg. Worst news. Will NPS investment be also devalued?

Glitterati Glitterati
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IMG20230301203313
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guest_999 wrote:

@Scorpion

Ya bro.raised closing request.

Got the card in Last Feb, and accumulated RPs for 40K (not redeemed once) in intention to redeem against Jewellery GVs. But Jewellery GVs are taken out from 360rewards portal 2 months back and not returned yet.

Card is due for renewal, so was in a dilemma whether to continue with the card or not for last 2 weeks. This devaluation makes it easy to decide.

From the time got magnus 4 months back, usage of Ultimate is next to NIL. Since have many cards in portfolio, No point in holding Ultimate (even only 900 gst we are paying from our pocket).

Since already hold Smart and Digismart from same bank, Cibil wont impact.

Reward points redeemed for Croma gvs (will sell at some discount) and Total outstanding paid and sent mail for closure of card.
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Was planning to upgrade my SCB Manhattan to this cc and now there is no sense to take this card.

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LG50 wrote:

Was planning to upgrade my SCB Manhattan to this cc and now there is no sense to take this card.

Get smart card bro. 2% on all online spends upto 1000 pm

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Scorpion wrote:

Get smart card bro. 2% on all online spends upto 1000 pm

That didn't change?

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Haha, nice. Now one card out of my wishlist.

Now only AU bank remaining, i guess among. (Maybe amex as well)

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Knight11 wrote:

That didn't change?

No change in rewards. But likely they will charge fees for rent payments soon.

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Scorpion wrote:

No change in rewards. But likely they will charge fees for rent payments soon.

I think they will send mail in a day or two. Ultimate is top variant. If that is gone, they can't keep smart at higher rate that this.

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Redemption options were no good anyway...

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Scorpion wrote:

Get smart card bro. 2% on all online spends upto 1000 pm

any way to get it ltf?
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tappukepapa wrote:

IMG20230301203313

Glass rupay ki jagah rupa ko de raha ha... theekthak meme picture dhoondha karo...

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Time to close scb ultimate sleepy

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Just one month back, I upgraded the super value titanium card to Ultimate. And now I'm disappointed.

Dear client, from 2 Apr'23, your StanChart Ultimate credit card will earn 3 reward points on every INR 150 spent on select categories. Now, enjoy 1% surcharge waiver on fuel transactions. Please note that no reward points will be earned on fuel transactions. Know more: bit.ly/41AlY0n

Talk-Of-The-Town Talk-Of-The-Town
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Knight11 wrote:

I think they will send mail in a day or two. Ultimate is top variant. If that is gone, they can't keep smart at higher rate that this.

If that happens I will close my sc bank acct. Opened sc savings acct to get the smart card only lol because my last application got rejected so thought of opening bank acct then put few lacs in acct then after couple of months apply again lol

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pnagaraj wrote:

Just one month back, I upgraded the super value titanium card to Ultimate. And now I'm disappointed.

Dear client, from 2 Apr'23, your StanChart Ultimate credit card will earn 3 reward points on every INR 150 spent on select categories. Now, enjoy 1% surcharge waiver on fuel transactions. Please note that no reward points will be earned on fuel transactions. Know more: bit.ly/41AlY0n

Even I applied for SCB Ultimate last week. Now, I wouldn't be proceeding with my application

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tappukepapa wrote:

Saw Funngro app founders in Shark Tank India Today. @abhishek012 bhai tumne isko loot loot kar kangal kar diya hai, Shark tank mein aakar funding maang rahe hai joy joy

@drupal @xxxyyyzzz @kukdookoo @kartikxxx
@sauravDD
Context : https://www.desidime.com/discussions/funngro-no...     

Funngro ko maine jada kaha loota.

Uska founder shayad koi female thi.
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abhishek012 wrote:
Funngro ko maine jada kaha loota.

Uska founder shayad koi female thi.

Husband and wife Co- Founders hain.

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Agnivo007 wrote:

Glass rupay ki jagah rupa ko de raha ha... theekthak meme picture dhoondha karo...


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