HSBC Visa Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The HSBC Visa Platinum Credit Card, issued by HSBC Bank, is positioned as an entry-level credit card offering a blend of exciting rewards and exclusive privileges. It stands out with no joining or annual fees, providing a decent reward rate on everyday spending. Key differentiating benefits include comprehensive welcome offers, access to Visa Signature perks like complimentary subscriptions and travel discounts, and waivers on fuel surcharges.

Welcome Benefits

• Earn 2,000 reward points upon downloading and logging into the HSBC India Mobile Banking app and spending at least INR 5,000 within the first 30 days of card issuance.
• Receive a complimentary 3-month Swiggy One membership after card activation.
• Get a voucher worth up to INR 500 for Amazon Pay, Zomato, or Swiggy when activating the card with a single transaction of INR 300 or more.
• Receive an INR 250 Amazon eGift Card when applying online, verifying identity by video KYC, and receiving the credit card.

Fees

• Joining Fee: Nil
• Annual Fee: Nil
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% of the total amount spent in foreign currency transactions.
• Interest Rates: 3.75% per month (45% annually) on the outstanding amount after the payment due date.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between INR 400 and INR 4,000 per month, capped at INR 250 per month.
• Cash Advance Charges: 2.5% of the advance amount, subject to a minimum of INR 500.

Rewards

• General Reward Points:
  • Earn 2 reward points for every INR 150 spent with the card.
  • Earn up to 6 times the reward points on hotels, flights, and car rentals through "Travel with Points."
  • Enjoy accelerated reward points once a total spend of INR 4 lakhs is reached.
  • Reward points are not earned on transactions related to utilities, tax payments, real estate services, non-financial institutions, money transfers, jewelry purchases, insurance, fuel spends, payments to financial institutions, e-wallet loading, bail and bond payments, as well as education and government-related transactions.
• Fuel Benefits:
  • Get INR 250 cashback when paying for fuel contactlessly using the physical HSBC Visa Platinum Credit Card (available on contactless fuel spends of up to INR 10,000 per quarter).
  • Receive a waiver of up to INR 250 on fuel surcharges on fuel payments between INR 400 and INR 4,000 a month.
• Lifestyle & Entertainment Perks (Visa Signature):
  • A complimentary 12-month Times Prime subscription, offering free access to Spotify Premium, Uber One, Discovery+, Moneycontrol Pro, Lenskart Gold, and more.
  • Complimentary flight seat selections twice a year on domestic flights booked with MakeMyTrip.
  • 15% cashback added to the MakeMyTrip Wallet in 'My Cash' for hotel stays in India when booking with MakeMyTrip using promo code: VISASIGNATURE.
  • Exclusive privileges at The Bicester Collection Villages, including access to eVIP pass discounts and sale events.
  • Save 10% on dining, activities, and shopping with District by Zomato.
  • Enjoy buy-one-get-one cinema tickets with District by Zomato.
  • Get a "Buy 1 Get 1" offer on booking movie tickets on Saturdays through BookMyShow, with a maximum discount limit of INR 250.
  • Up to 15% dining discounts via EazyDiner.
• Insurance Benefits:
  • Zero liability for lost cards, providing insurance coverage of up to INR 3,00,000 for any misuse of the card from 24 hours before it was reported lost.

Rewards Redemption Guide

• Reward points can be instantly converted to air miles and hotel loyalty points using the HSBC India Mobile Banking app.
• Points can be redeemed for gift vouchers, cosmetics, home appliances, and donations under the HSBC Credit Cards Rewards Programme.

Air Miles and Hotel Loyalty Conversion Ratios

• Maharaja Club: 2 Reward Points = 1 Maharaja Club Point
• Singapore Airlines (KrisFlyer): 2 Reward Points = 1 KrisFlyer Mile
• British Airways Executive Club (Avios): 2 Reward Points = 1 Avios Mile
• Air Asia: 1 Reward Point = 2 Asia Miles
• Hainan Airlines Fortune Wings Club: 4 Reward Points = 1 AirMile
• United MileagePlus: 3 Reward Points = 1 AirMile
• Etihad Airways: 2 Reward Points = 1 Airmile
• Vietnam Airlines Lotusmiles: 2 Reward Points = 1 Airmile
• Qatar Airways Privilege Club: 2 Reward Points = 1 Airmile
• Accor: 2 Reward Points = 1 Point
• Marriott International: 2 Reward Points = 1 Point
• Shangri-La: 10 Reward Points = 1 Point
• Wyndham Hotels & Resorts: 2 Reward Points = 1 Point

Card Eligibility Criteria

• Age:
  • 18 to 65 years old for salaried individuals.
  • 25 to 65 years old for self-employed individuals.
• Minimum Income:
  • INR 600,000 per year for salaried individuals.
  • INR 1,200,000 per year for self-employed individuals.
• Residency: Must be an Indian resident.
• Location: Must reside in one of the following cities: Chennai, Gurgaon, Delhi National Capital Region (NCR), Pune, Noida, Hyderabad, Mumbai, Bengaluru, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, Kolkata, Amritsar, Baroda, Indore, Lucknow, or Nagpur.
• Self-employed: Can apply only if they have a savings/current account with HSBC.

Important Documents

• Most important terms and conditions (PDF)
• Credit Card Key Fact Statement (PDF)
• Platinum credit card guide (PDF)
• Code of commitment to customers (PDF)

Card Review

The HSBC Visa Platinum Credit Card is an excellent choice for individuals seeking a lifetime free credit card with substantial savings opportunities. As an entry-level offering, it provides a decent reward rate and a range of benefits across entertainment, lifestyle, and travel categories, enhanced by its Visa Signature variant. The card's zero joining and annual fees, coupled with exclusive welcome benefits, make it highly competitive. It is particularly well-suited for those who can leverage HSBC's periodic discounts and offers with partner brands, enjoy movie and dining benefits, and appreciate features like fuel surcharge waivers and zero liability protection.

Important Product Details

• No joining or annual fees, making it a lifetime free credit card.
• Earns 2 Reward Points on every INR 150 spent.
• Includes a "Buy 1 Get 1" offer on movie tickets via BookMyShow.
• Offers a 1% fuel surcharge waiver.
• Provides zero liability protection against lost cards.
• Comes with exclusive Visa Signature perks, including complimentary subscriptions and travel discounts.
• Features attractive welcome benefits upon card activation and initial usage.
• Reward points are not earned on specific categories like utilities, tax payments, and fuel spends.
• Does not include lounge access benefits.

Other Details

• The card offers balance transfer options, allowing outstanding balances from other credit cards to be repaid in easy monthly installments at a lower interest rate.
• HSBC credit card customers get exclusive access to discounts with select partners.
• Emergency card replacement is available anywhere in the world if the card is lost.
• The option to borrow cash and repay in easy monthly installments with a low interest rate using cash on Equated Monthly Instalment (EMI) is available.
• Provides global access to accounts and 24/7 online access for money management on the go.
• Offers and benefits are subject to change and specific terms and conditions as defined by Visa or HSBC.
• Terms and Conditions apply to all offers, including the Amazon eGift Card and Bicester Collection benefits. For Bicester Village benefits, registration as a member of The Bicester Collection’s 'Membership' loyalty programme and accessing a QR code via the relevant participating Village’s Membership app is required.
• The Amazon eGift Voucher is valid for 6 months from issuance and cannot be reloaded, resold, transferred for value, or redeemed for cash. It cannot be used to purchase other gift cards or digital content.
• The application process can be completed online or by visiting a nearest HSBC branch.