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Smart Credit Card FAQs

W.e.f 25-Aug-2024, maximum eligible cashback of INR 1500 (INR 1000 for Online spends and INR 500 for other spends) will be applicable per statement cycle and not per month. The same will be consolidated at customer level (inclusive of Primary and Supplementary cardholders, if any).

Clients are eligible for cashback with Smart credit card, details below –

 CASHBACK %MAX CASHBACK PER STATEMENT CYCLE
Online Transactions2%INR 1,000
Offline Transactions1%INR 500
Value of cashback is equivalent to INR 1.

There are no minimum transaction value or minimum spends requirement for clients to be eligible for cashback. Please see below table for more details

TO QUALIFY FOR CASHBACKMINIMUM TRANSACTION VALUEMINIMUM SPENDS IN CATEGORYMAX CASHBACK PER TRANSACTION

MAX CASHBACK PER STATEMENT CYCLE

 
Online TransactionsNANAINR 1,000INR 1,000 
Offline TransactionsNANAINR 500INR 500 
For Bill Payments through Billdesk or StanChart Bill Pay, only transactions on Billers registered under the following categories will be eligible for cashback:
  • Telecom
  • Utilities (Electricity, Water, Gas)
No, fuel transactions are not eligible for cashback.
No, cash withdrawal transactions are not eligible for cashback.
  1. The cashback earned on a Smart Card will be available in the Rewards Portal of the Bank i.e. R360 (https://retail.sc.com/in/rewards360/rewards_home/in).
  2. Client needs to log into Online Banking & proceed to 360 Rewards or login directly to 360 Rewards here https://retail.sc.com/in/rewards360/rewards_home/in
  3. Next, please select Smart card in the drop-down menu (in case of multiple SCB credit cards).
  4. Once redeemed the cashback will reflect in your credit card account within next 3 working days.
The cashback earned on Smart Card will be directly adjusted against client’s Outstanding Statement Balance.
  1. INR 2500 is the minimum Cashback amount for redemption for Smart Card.
  2. Subsequently, Cashback can be redeemed in multiples of INR 1000 i.e. INR 2500, INR 3500, INR 4500 etc.
Cashback can be redeemed on multiple cards at the same time. However, conditions on minimum redemption amount will apply for Smart credit card.
No, the redemption fee of INR 99 is not applicable on redemption of cashback.
The special interest rate of 0.99% per month and Nil processing fee is valid only on eligible transactions as defined by the Bank. The client can avail the EMI facility via Online Banking or SC Mobile or any other channels of Standard Chartered Bank.
  1. By calling our Phone Banking lines
    Call our phone banking team on 080 39401166 / 66011166 and place your request for EMI conversion or SMS KBE to +91-9223010121 to get a call back.
  2. By sending an SMS
    Respond to the SMS received just after you spend on your credit card to convert eligible transactions into easy EMIs.
  3. By logging into Online Banking and SC mobile
    If you have missed converting your credit card purchase to an EMI at a physical or online merchant, you can login to Online banking or mobile banking and place a request at your convenience for the eligible transactions.
No, for clients availing the Smart credit card, no change of Statement Date within the first 90 days of card setup is possible.

Please see the detailed illustration below to understand the functioning of the extended interest-free credit period

faqs

Scenario 1: For a customer, who wishes to avail the extended interest-free period, the customer is required to make a payment of Minimum Amount Due as per the first three statements for Smart credit card, and the Total Amount Due as per the fourth statement (30 Oct) for Smart credit card by Payment Due Date (18 Nov) to continue to keep the account in good standing

Scenario 2: In case the customer does not make the payment of Total Amount Due in the 4th statement (30 Oct) – interest will be charged on Total Amount Due as per statement dated 30 Oct from 31 Oct till such time total payment is received by the Bank

Scenario 3: In case the customer does not make the payment of Minimum Amount Due in Month 1 (30 Jul)
(a) customer will not be eligible for the ‘extended interest-free credit period’
(b) late fees will be levied in the statement generated on 30 Aug
(c) interest will be charged on Total Amount Due as per statement generated on 30 Aug, from 31 Aug till such time total payment is received by the Bank

The interest-free credit period offer will be forfeited / withdrawn automatically, and interest will start accruing from 3rd statement on retail balance outstanding in 2nd statement. All retail transactions done post generation of Statement 3 will start accruing interest. The total interest accrued will reflect in the 4th credit card Statement.
This feature is not applicable on cash transactions done on the Smart Credit card. Cash transactions will continue to attract interest rate of 3.75% per month.
The feature is not applicable on any Loan on Card products, EMI or Balance transfer offerings of the Bank. It is applicable only on the Retail transactions. The Statement for these products is shared separately with as Instabuy account statements where the payments needs to be serviced separately.
Credit card transactions with Merchant Category Code (MCC) 6513 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.
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
Processing fee on rental payments will be effective from April 02, 2023.
The processing fee will be levied by 15th of the next calendar month and will have a separate narration in the monthly statement.