Quick Verdict

  • For everyday spend, the Standard Chartered Ultimate Credit Cardⓘ wins with a higher base reward rate of 3.33% compared to 0.8% on the RBL Bank Icon Credit Cardⓘ.
  • For travel and lounge benefits, the RBL Bank Icon Credit Cardⓘ offers more complimentary domestic and international lounge visits, but the Standard Chartered card provides more frequent international lounge access subject to monthly spend.
  • Both cards have the same joining and annual fees of Rs 5,000, but the RBL card requires a higher spend of Rs 3 lakh annually for fee waiver, making the Standard Chartered card cheaper to hold for moderate spenders.
  • Choose the RBL Bank Icon Credit Cardⓘ if you prioritize premium travel experiences and milestone rewards. Opt for the Standard Chartered Ultimate Credit Cardⓘ if you want superior base rewards and consistent lounge access with lower fee waiver thresholds.

Side by Side

DetailRBL Bank Icon Credit CardⓘStandard Chartered Ultimate Credit Cardⓘ
Annual feeRs 5,000Rs 5,000
Joining feeRs 5,000Rs 5,000
Fee waiver on spendRs 3.00 lakhNot recorded
Reward rate0.8% base, 4% dining & travel3.33% base
Reward typePointsPoints
Domestic lounge8 per year8 per year
International lounge4 per year4 per year (1 per month with spend)
Forex markup2%2%
Best suited fortravel, dining, lounge, rewards, shoppingrewards, travel, lounge, premium, shopping

Rewards Compared

The RBL Bank Icon Credit Cardⓘ delivers Rs 80 back on Rs 10,000 of general spend, but significantly boosts rewards to Rs 400 on dining and travel categories, reflecting its focus on lifestyle and travel enthusiasts. This card also offers 20 reward points per Rs 100 on international and weekend dining spends, which can enhance returns for frequent travelers and diners.

In contrast, the Standard Chartered Ultimate Credit Cardⓘ offers a much higher base reward rate of 3.33%, equating to Rs 333 on Rs 10,000 spent across all categories. This makes it a strong choice for users seeking consistent rewards on everyday purchases without needing to focus on specific categories. Additionally, it offers 5% cashback on duty-free spends, a perk for international shoppers.

Fees Compared

Both cards charge a joining fee and annual fee of Rs 5,000. The RBL Bank Icon Credit Cardⓘ waives its annual fee if you spend Rs 3 lakh annually, which breaks down to Rs 25,000 per month. The Standard Chartered Ultimate Credit Cardⓘ does not specify a fee waiver threshold, implying the fee is generally not waived.

The break-even spend to cover the annual fee through base rewards is about Rs 6.25 lakh on the RBL cardⓘ, much higher than the Rs 1.50 lakh required on the Standard Chartered cardⓘ. This means the Standard Chartered card becomes cost-effective at a much lower spend level, making it more accessible for mid-tier spenders.

Which One Should You Pick

The RBL Bank Icon Credit Cardⓘ is ideal for premium users who spend heavily on travel and dining and can leverage milestone rewards and exclusive event access. It suits those who value lounge access and concierge services and can meet the high fee waiver threshold. Skip this card if your spend is moderate or you want straightforward rewards.

The Standard Chartered Ultimate Credit Cardⓘ is better for users who want a strong base reward rate on all spend categories and more frequent international lounge access without a high spend requirement. It is suitable for those who want a simpler rewards structure and lower break-even spend. Avoid this card if you rarely travel or do not value lounge benefits.

Overall, the Standard Chartered Ultimate Credit Cardⓘ is the better all-rounder for most users due to its superior base rewards and lower fee break-even. The RBL Bank Icon Credit Cardⓘ is a niche pick for high spenders focused on travel and lifestyle perks.

What to Check Before You Apply

  • Confirm the quarterly Rs 35,000 spend gate for domestic lounge access on the RBL Bank Icon Credit Cardⓘ.
  • Understand the redemption options and value of points for both cards to maximize rewards.
  • Calculate your monthly spend to see if you can meet the Rs 25,000 monthly waiver threshold on the RBL cardⓘ.
  • Consider the 2% forex markup on both cards if you frequently use your card abroad.
  • Check which airports and lounges are covered by the complimentary access to avoid surprises.

FAQ

What is the forex markup fee on these cards?+
Both the RBL Bank Icon Credit Cardⓘ and the Standard Chartered Ultimate Credit Cardⓘ charge a forex markup of 2% on foreign currency transactions.
Are the annual fees waived on either card?+
The RBL Bank Icon Credit Cardⓘ waives the Rs 5,000 annual fee if you spend Rs 3 lakh annually, or Rs 25,000 per month. The Standard Chartered Ultimate Credit Cardⓘ does not specify a fee waiver.
How many lounge visits do these cards offer?+
Each card offers 8 domestic lounge visits and 4 international lounge visits per year. The Standard Chartered cardⓘ provides 1 international lounge access per month with a prior-month spend of Rs 20,000.
Which card offers better rewards on everyday spending?+
The Standard Chartered Ultimate Credit Cardⓘ offers a higher base reward rate of 3.33%, compared to 0.8% on the RBL Bank Icon Credit Cardⓘ, making it better for everyday spend.
Do these cards provide any welcome benefits?+
Yes, the RBL Bank Icon Credit Cardⓘ offers 20,000 reward points as a joining gift, while the Standard Chartered Ultimate Credit Cardⓘ provides 6,000 rewards redeemable for shopping vouchers or charity spends.