When we call a product ‘smart’, there should be enough reasons to back that claim. Standard Chartered Bank’s Smart Credit Card is loaded with features that make for a strong case to be called the smart credit card in India right now. Right at the start when one receives the card, there is a minimum required fee of Rs. 499 plus taxes. However, to make things delightful for customers, the card also comes with an Amazon gift card worth Rs. 500. This card can either be used by the customer or can be given to someone else. This means, technically, the card is free.
There are a lot of things that make a smart credit card different from regular credit cards. For instance, they have embedded microprocessors or memory chips that exchange data over a serial interface. It is powered in itself by an external source, a smart card reader. This tells us that technology-wise; they are on top of their game.
Before diving deeper into the features of this credit card, let’s first understand the eligibility to get it:
Smart Credit Card Eligibility Criteria
- Age ranges from 18 to 65 years with the minimum criteria for the applicant’s age to be 18 years.
- Monthly earnings should be stable and not fluctuate. Both salaried and business class people can apply for the smart card. Income Tax Returns for the previous three years need to be submitted.
- Terms and conditions along with the credit and banking policies of the bank shall apply.
- The applicant must have their name belonging to a credit card citing locations and cities of the Bank. The application after the allotment of the card can apply for an add-on card for their immediate family members for the usage. The privileges for both will be the same. There is no cost extra for the add-on card.
Required Documents:
- ID Proof (either/or)
- Passport
- Government ID
- Voter ID
- PAN card
- Address Proof (either/or)
- Aadhar Card
- Driving License
- Voter’s ID
- Election Card
- Passport
- A letter sanctioned by National Population Register
- Income Proof- This contains proof related to the nominal income of the applicant to cross-verify that they truly have a stable income. They can be self-employed business persons, jobbers, salaried people or even professionals appointed by self.
Using the smart card by Standard Chartered Bank comes with its own unique perks which makes it the smart credit card. Swiping the credit card every time opens a portal to a plethora of benefits like cashback points which you can easily redeem through the online platforms. The salient features that highlight the innate avails of the smart credit card are explored below.
Cashback Offers:
- Smart Credit Cards are backed up by a guaranteed 2% cashback on all online purchases.
- Customers are promised a 1% cashback income for all other purchases- offline or credit that is made while using the smart card.
- Benefits pertain up to Rs. 500 per month for all offline expenditures made with the smart credit card. Fuel transactions do not belong in the cashback category though.
No minimum required transaction bar is set for clients to be eligible for cashback- be it offline or online. The cashback earned will solely be visible on the e.360, i.e., the Rewards Portal of the bank, from where it can be redeemed at will. Apply for a credit card online today from Standard Chartered Bank.
Note: The fee of Rs. 499 will be reverted to your account in case you cross the spending bar of Rs. 1.2 lakh for the previous year.
Interest Free Gains:
- The first 90 days are termed the interest-free period with this card. This is only for the first month. Hence, if you have plans to purchase something expensive in the near future, getting a Standard Chartered smart card could be a great decision.
- Payment of the minimum due amount must be done within every statement cycle to enjoy the perks. This card is made usable only for retail purchases.
Apart from this, the Standard Chartered Smart Credit Card has an additional utilization to scrutinize, the Smart Card Kuch-Bhi on-EMI (KBE).
Benefits of Smart Card Kuch-Bhi on EMI (KBE):
- The offer pertains to a tenure of 3 months at 0.99%.
- Applicable on transactions converted into EMIs via net banking or the mobile application.
- No processing fee is charged. Normally, to convert the credit to EMI, banks charge a certain percentage. Here, the Standard Chartered smart card will not charge you anything.
- Cannot be utilized on EMI conversions done at the point of purchase using the smart credit card.
The convenient plethora of uses that the smart card has clearly made it special. Shoppers will genuinely prefer smart cards over standard credit cards due to the benefits it provides over time. The benefits are spread over time to fetch consumer loyalty and also to engage them in seeking a reward-based mechanism.
Once you are used to using a smart credit card for your online and offline spending, you will not choose to pay via any other method. As the yearly saving crosses a minimum of Rs 18,000/- it serves as a huge benefit for the years to come.
