Standard Chartered Platinum Rewards Credit Card

What changed: Standard Chartered cards are moving to Federal Bank

Reddit threads from June and July 2026 report that Standard Chartered's credit cards in India are migrating to Federal Bank. According to a July 2026 thread summarising the notice, your current card, credit limit and reward points stay active through the move. We have not seen the terms that apply after migration, and Federal Bank's own cards are different products, so this page describes the card as Standard Chartered sells it today.

If you are applying now, confirm with the bank whether new Platinum Rewards cards are still being issued. A June 2026 thread notes that the card was still listed as available on SC's website at the time. If you already hold it, keep an eye on any fee or reward changes in the migration letters.

This is the Platinum Rewards card, not Standard Chartered's separate Rewards Credit Card.

Lifetime free, with two conditions

SC's headline says zero joining and annual fees. The first condition is on the page: make a retail transaction of ₹500 or more within 30 days of issuance, or pay a one-time ₹250 + GST.

The second is unwritten. When we checked in October 2026, an FAQ on the same SC page still listed ₹250 for the first year and from the second year. That gap is the complaint users raise most: 7 threads describe being told the card was free and billed later. One November 2025 thread reports ₹750 + GST annual fees on the user's SC cards, while the website showed ₹250 for Platinum. Before you accept the card, ask SC to confirm by email that there is no annual or renewal fee, and keep the reply.

Points on fine dining and fuel, per ₹150

• Fine-dining outlets: 5 Reward Points per ₹150.
• Fuel: 5 points per ₹150.
• Everything else: 1 point per ₹150.
• No monthly cap on points.

So ₹10,000 a month on dining and fuel earns about 333 points, and ₹10,000 on other spends earns about 67. SC does not state what a point is worth. Points go to vouchers, catalogue items, flights or hotels through SC netbanking, and SC's own page warns that some vouchers cost more points than their face value. We do not publish an effective rate for that reason. Users call the redemption value low.

Rent payments under MCC 6513 carry a 1% + taxes processing fee. Interest is 3.75% a month, 45% a year. There is no lounge access listed, and forex and fuel surcharge terms are not stated on the bank page.

Getting out cleanly

Six threads describe slow cancellations with fees still posting. If you close it, redeem your points first, pay the balance to zero, and request closure in writing through email or netbanking. Keep the reference number and check the next statement for any fee.

Is a free card worth the paperwork?

If you eat out and buy fuel often, already hold the card, and have the fee terms in writing, it is a harmless free card with no reward cap. Keep using it until the Federal Bank migration terms are clear.

If you are choosing a new card, the uncertain fee, the unstated point value and the pending migration make it a weak pick. For fuel, users prefer SC's own Super Value Titanium. For a simple free card, there are cleaner options.

Credit Card Information Compiled by: Abhijeet Kumar | Reviewed by: Anmol Ratan Sachdeva