Believe it or not, in today’s world cash cards hold dominance over hard cash. Everything from watching a movie to buying a car can be done using a credit card (depending upon the bank limit). It makes our life more comfortable and immunes us from the problem of carrying hard cash for everything, every time.
Standard Chartered stands tall in banking and financial sector with a working history of more than 150 years. Among the many unique and customer friendly services that it provides, comes the Manhattan platinum Credit Card. If you are into cashback, SCB credit card is the one for you. Consider it as the best cash back credit card in India. You get tonnes of perks and upsides for using this card, that totally result in saving your hard earned money.
A few advantages are:
- Probably the best perk; you get money for spending money. Sounds awesome, right? You get 1% worth of cash back by redeeming reward points that you get upon spending.
- You can use a standard chartered credit card almost anywhere for any purpose (except for loading money into Paytm Wallet and foreign transactions). Be it shopping in supermarkets, online shopping at e-commerce websites, like Flipkart, Amazon, and the likes, Dining and restaurants, hotels, travels etc. and the list goes on.
- You get 5% cashback on groceries. It is the only card that offers you cash back for shopping on groceries in superstores like Big Bazaar, Reliance, Easyday, and Mor. What’s merrier than that? Because every now and then we have to step in the market for groceries (which we need to, all the time). So all the cashback upon the groceries fetches you enough cashback in the long run when compared to what you could’ve got on any other kind of transaction.
- You get 5 reward points for every 150 rupees you spend. Each point is worth 30 paise. Suppose you spend around Rs.1, 00,000 for every 4-5 months, you will make free money of 1000 rupees. Also, you receive more when you spend money on groceries. For every Rs.5000 you spend on groceries, you will receive a cashback of Rs.250; that means to get a cashback of Rs.1000, you just need to spend Rs.20, 000.
Though these perks come with a few conditions;
- Minimum transaction of Rs.1000 is required to avail the cashback (Rs.1000 is no big deal when you are buying at a supermarket).
- You will have to make limited value transaction each time as there is a limit of cashback upon one single transaction i.e. Rs.150/-, which means you have to make a maximum of Rs.3000 worth of purchase only. Make individual transaction pieces of 3000.
- Minimum cashback per month is 500, which makes it 6000 per annum.
Not everything comes with all lights and joy, though: SCB has one or two flaws as well- Let’s hear them too;
- Disadvantages can be started with the limits on transactions and cashback (if it pains you).
Joining fees is Rs.499 and Rs.999 from second year onwards. (Though they both can be waived off with a minimum purchase of Rs.30000 and Rs.60000 a year, respectively).