FAQs – Revision of Ultimate reward points proposition
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.
| Merchant Category Code (MCC) | MCC Description | Spends | Revised Rewards |
| 4900 | Utilities | 150 | 3 |
| 5411 | Supermarkets | 150 | 3 |
| 5960,6300 | Insurance | 150 | 3 |
| 7349,6513 | Property Management / Rent Pay | 150 | 3 |
| 8299 | Schools | 150 | 3 |
| 9399 | Government | 150 | 3 |
Please note there is no capping to the reward points that can be earned in a month on the merchant categories where there is a revision in reward points.
From April 2nd, 2023, no reward points will be earned for Fuel transactions on StanChart Ultimate credit card.However, clients will now enjoy a surcharge waiver of 1% on fuel spends across all petrol pumps. The fuel surcharge waiver amount will be capped at Max Rs 1000/ per month.
The changes would be effective from April 2nd, 2023. Please note all spends till 31st March 2023 on the select categories will continue to earn reward points as per the existing reward proposition i.e. 5 reward points on every INR 150 spent.
There will be no impact to your existing reward points which you have earned and is available for redemption till expiry of those points.