Quick Verdict

  • For everyday spend, the Makemytrip ICICI Bank Signature Credit Cardⓘ wins with a higher base reward rate of 1.25% compared to 1% on the Standard Chartered Rewards Credit Cardⓘ.
  • For travel and lounge benefits, the Makemytrip ICICI card also leads, offering 8 domestic and 4 international lounge visits per year, versus 4 domestic lounges on the Standard Chartered card with a quarterly Rs 50,000 spend gate.
  • The Standard Chartered Rewards Credit Cardⓘ is cheaper to hold in practice due to no joining fee and an annual fee waiver on Rs 1.00 lakh annual spend, versus a non-waivable joining fee and annual fee on the Makemytrip card.
  • Choose the Makemytrip ICICI cardⓘ if you prioritize travel rewards and lounge access. Pick Standard Charteredⓘ if you want a no-joining-fee card with good dining and online rewards and can meet the waiver spend.

Side by Side

DetailMakemytrip ICICI Bank Signature Credit CardⓘStandard Chartered Rewards Credit Cardⓘ
Annual feeRs 999Rs 1,000
Joining feeRs 999Nil (lifetime free)
Fee waiver on spendNoneRs 1.00 lakh annual spend
Reward rate1.25% base1% base
Reward typePointsPoints
Domestic lounge8 per year4 per year (Rs 50,000 quarterly spend gate)
International lounge4 per yearNone
Forex markup3.5%3.5%
Best suited forTravel, lounge, rewardsRewards, dining, first-card, shopping, lounge

Rewards Compared

The Makemytrip ICICI Bank Signature Credit Cardⓘ returns Rs 125 per Rs 10,000 spent at the base rate. It significantly shines in travel spends, offering 6% rewards, which translates to Rs 600 back on Rs 10,000 spent on travel, and 2.5% on dining, or Rs 250. This makes it a strong choice for those who spend heavily on travel-related categories and dining out.

The Standard Chartered Rewards Credit Cardⓘ offers a 1% base rate, returning Rs 100 per Rs 10,000 spent. It improves to 4% in both online and dining spends, delivering Rs 400 per Rs 10,000, making it a compelling option for users focusing on dining and online shopping categories. Although it does not match the Makemytrip card’s travel rewards, its higher rewards on dining and online spending provide good value for those categories.

Fees Compared

The Makemytrip ICICI cardⓘ charges a Rs 999 joining fee and a Rs 999 annual fee with no waiver available. Its base reward rate means you need to spend approximately Rs 79,920 annually just to cover the annual fee through rewards.

The Standard Chartered Rewards Credit Cardⓘ has no joining fee and an annual fee of Rs 1,000 that is waived if you spend Rs 1.00 lakh annually, which breaks down to about Rs 8,333 per month. This makes the Standard Chartered card more accessible for fee waiver if you have consistent monthly spends, reducing the effective cost of holding the card.

Which One Should You Pick

Choose the Makemytrip ICICI Bank Signature Credit Cardⓘ if you are a frequent traveler who can take advantage of the high rewards on travel spends and make good use of the 8 domestic and 4 international lounge visits annually. It suits those who want premium travel perks and value travel-related rewards more than the fee.

The Standard Chartered Rewards Credit Cardⓘ is ideal for first-time credit card users or those who spend heavily on dining and online shopping categories and want a card with no joining fee and a feasible annual fee waiver. The quarterly Rs 50,000 spend gate for domestic lounge access should be considered if you want lounge benefits.

In conclusion, frequent travelers and lounge users should go for Makemytrip ICICIⓘ for superior travel rewards and lounge access, while those seeking a cost-effective card with solid dining and online rewards and no joining fee should pick Standard Charteredⓘ. Skip the Makemytrip card if you prefer a fee waiver option or do not travel often. Skip Standard Chartered if you want more international lounge access and better travel rewards.

What to Check Before You Apply

  • Verify the total number of lounge visits allowed and any quarterly or annual spend requirements to access lounges.
  • Confirm the exact redemption value and whether points expire or have caps on redemptions.
  • Understand the fee waiver calculations, especially the monthly spend needed to avoid annual fees.
  • Remember that both cards charge a 3.5% forex markup on foreign currency transactions, which increases costs on international spends.

FAQ

What is the forex markup on these cards?+
Both the Makemytrip ICICI Bank Signature Credit Cardⓘ and the Standard Chartered Rewards Credit Cardⓘ charge a 3.5% forex markup on foreign currency transactions, which can add significant costs to international spending.
Can the annual fee on the Standard Chartered Rewards Credit Card be waived?+
Yes, the Standard Chartered card waives the Rs 1,000 annual fee if you spend Rs 1.00 lakh annually, approximately Rs 8,333 per month, making it effectively free for regular users.
How many lounge visits are included with each card?+
Makemytrip ICICI cardⓘ offers 8 domestic and 4 international lounge visits annually, while Standard Chartered Rewardsⓘ provides 4 domestic lounges per year with a Rs 50,000 quarterly spend gate and no international lounges.
Are there any welcome benefits?+
Yes, the Makemytrip ICICI cardⓘ offers a Rs 1,000 MMT voucher and MMTBLACK Gold Tier Membership, while Standard Chartered Rewardsⓘ provides 5,000 bonus reward points on first spends.
Which card is better for dining spends?+
Standard Chartered Rewards Credit Cardⓘ offers 4% rewards on dining, higher than Makemytrip ICICI’s 2.5%, making it the better choice for dining category rewards.