Christened `Reward Plus', StanChart's rewards programme to be on offer from the 11 of this month, will enable cardholders to exchange points earned on spends for discounts: cardholders get 1 reward point for every Rs 125 spend locally while it will be Rs 80 on overseas spends. Once cardmembers notch up 250 points, they can start reedeming it for gifts.

"Our focus has always been on offering customers relevant products. We have continuously endevoured to anticipate and fulfil changing consumer needs and I believe that through our pioneering products--be it the global card or the rewards plus programme, we have succeeded in offering consumers the right product at the right time", said StanChart's head of consumer banking in India, Harpal Duggal, adding: "We will be spending nearly Rs 10 crore annually in promoting the scheme".

An option to convert points for holidays at the Taj, Oberoi and Wellcomgroup, has also been provided cardmembers will also have the option of converting points to miles through a frequent flier programme: `Flying returns'. This will be in addition to the benifits accruing on StanChart's `Travel Cash Back', a facility introduced in association with Cox & Kings. Cardholders get a 3.5 per cent and 6.5 per cent on basic domestic and international air fares. Stanchart currently has a card base of over six lakhs. More than two lakhs have been added in the past few months since the launch of its global card in March this year.

"Our rewards programme is by far the best... it will get better as the spends on cards will improve on account of its being a global card", StanChart's senior manager, sales & marketing, Subba Vaidyanathan, said.

Another feature of StanChart's rewards programme is an accelerator facility: you can claim a gift by charging the additional amounts to your credit card.

"Our global card is a powerful testimony to our efforts to provide card members products and services that are world class... we believe that the StanChart card will give customers the most rewarding spending experience, be it in India or abroad", Duggal said.