Cash back and points rewards on one card

Customers in India will enjoy using a new card with cash back and rewards as a standard feature. Standard Chartered, a global lender, is introducing Manhattan Platinum Card having both these characteristics.

Card holders will receive 5 per cent cash back on all departmental stores and supermarkets and five reward points per Rs 100 for all other spends.

"There is no other product available that offers flat rewards as high as 5 per cent as a standard feature. The customer will see the rewards as cash-back or reward points in the statement after each transaction," said R L Prasad, Stanchart's General Manager, Credit cards & Personal loans.

Annual fee charged for the card makes up Rs 2,000. First year it is to be offered free as an introductory offer.
The first to see the card are metros and Bangalore. There are 90 branches of Stanchart in 33 cities with 2.1 million customers in the retail banking.