HSBC Visa Platinum Credit Card Review: Should You Apply for It?
The HSBC Visa Platinum Credit Card is a popular choice among many credit card users in India. Whether you’re looking for great cashback offers, travel benefits like air miles, or a credit card that offers rewards on daily spending, this card checks many boxes. With a wide range of features designed to make life more convenient and rewarding, it’s no wonder so many people are interested.
But is it really worth it? I’ll share my honest opinion based on my experience with the HSBC Visa Platinum Credit Card, the benefits, drawbacks, and everything in between.
Why Choose HSBC Visa Platinum Credit Card?
This card has some standout features that could make it worth your while. Here’s a closer look at what makes the HSBC Visa Platinum Credit Card a good option.
Key Benefits:
- No Joining or Annual Fees: There are no hidden costs when signing up.
- Rewards Points: You get 2 reward points for every INR 150 spent.
- 5X Reward Points: After spending INR 4,00,000 in a year, you can earn 5 times the regular points, up to 15,000 extra points.
- Air Miles: Convert reward points into air miles with Club Vistara, Air India, Etihad Airways, and more.
- Cashback Offers: Get 10% cashback on food and 1.5% cashback on other spends.
- Fuel Surcharge Waiver: Save up to INR 3,000 annually on fuel surcharges.
These benefits sound great, but are they enough to make this the right card for you? Let’s break them down further.
What Makes HSBC Visa Platinum Card Stand Out?
1. No Fees
A card without joining or annual fees is a breath of fresh air. This alone can save you a lot of money compared to other credit cards that have high fees attached. If you’re someone who avoids credit cards because of costly annual fees, HSBC Visa Platinum is a no-brainer.
2. Reward Points & Air Miles
One of the main reasons people sign up for credit cards is to earn rewards on spending. With the HSBC Visa Platinum Credit Card, you earn 2 reward points for every INR 150 you spend. While that may seem standard, the 5X reward points you get after reaching INR 4,00,000 in spending is a game-changer.
These reward points can be converted into air miles, which is perfect for frequent travelers. You can convert your points into miles with airlines like Air India, Etihad Airways, British Airways, and Singapore Airlines. So, if you travel frequently, this card is highly beneficial.
3. Cashback Offers
Cashback is another great feature. Until August 2024, you can earn 10% cashback on food purchases and 1.5% on other spends. Cashback is an excellent way to save on everyday expenses.
4. Fuel Surcharge Waiver
With rising fuel costs, every bit of savings helps. The HSBC Visa Platinum Credit Card offers an annual fuel surcharge waiver of up to INR 3,000. This is another reason why it stands out among its competitors.
Pros and Cons of HSBC Visa Platinum Credit Card
Let’s take a look at the advantages and disadvantages of this credit card.
Pros:
- No fees: No joining or annual fees.
- Flexible Rewards: Convert points to air miles.
- Global Benefits: Use Google Pay for fast payments, worldwide emergency card replacement, and access to global services.
- Great Cashback Offers: 10% cashback on food and 1.5% cashback on other purchases.
Cons:
- High Spending Requirement: You need to spend INR 4,00,000 to unlock 5X reward points.
- Limited Air Miles Conversion: The conversion rate might not suit everyone, especially if you don’t fly often.
- Geographic Limitations: The card is only available in certain cities in India.
Who is Eligible?
If you’re considering applying for the HSBC Visa Platinum Credit Card, here are the eligibility criteria:
- Age: You must be between 18 to 65 years old.
- Minimum Income: You need a minimum annual income of INR 4,00,000 if you’re salaried.
- Residency: You must reside in one of the following cities: Chennai, Gurgaon, Delhi NCR, Pune, Noida, Hyderabad, Mumbai, Bangalore, Kochi, Coimbatore, Jaipur, Chandigarh, Ahmedabad, or Kolkata.
How to Apply for HSBC Visa Platinum Credit Card?
Applying for the card is easy and can be done online. Here’s a quick step-by-step guide:
- Visit the HSBC website and fill out the application form.
- Complete your video self-verification online.
- Submit the necessary documents such as ID proof, income proof, and address proof.
- Once your application is approved, you can start using the card.
HSBC also has a limited-time offer where you get an Amazon eGift Voucher worth INR 250 when you apply and complete the verification process.
Special Offers for HSBC Visa Platinum Credit Cardholders
The HSBC Visa Platinum Credit Card offers various exclusive deals and discounts, which can add even more value.
- 10% Cashback on Food: Enjoy dining discounts until August 2024.
- Travel Offers: Get deals on flights, hotels, and holiday packages.
- Shopping Discounts: Special discounts with select lifestyle brands.
- Emergency Card Replacement: If you lose your card while traveling, you can get it replaced in just 3 days, anywhere in the world.
Table: HSBC Visa Platinum Credit Card – Key Features Overview
| Feature | Details |
|---|---|
| Annual Fee | None |
| Reward Points | 2 points per INR 150 spent |
| Air Miles Conversion | Club Vistara, Air India, Etihad, etc. |
| 5X Reward Points | After spending INR 4,00,000/year |
| Fuel Surcharge Waiver | Save up to INR 3,000 annually |
| Cashback on Food | 10% until August 2024 |
| Global Card Replacement | Available in 3 days |
| Minimum Income Requirement | INR 4,00,000 annually for salaried individuals |
| Eligibility | Indian residents aged 18-65 |
| Special Offers | Amazon eGift Voucher on video verification |
Key Takeaways
- HSBC Visa Platinum Credit Card offers great rewards and cashback opportunities.
- It’s perfect for those looking for a no-fee card with air miles conversion.
- You can save on fuel surcharges and enjoy global card replacement services.
- The 5X reward points after reaching INR 4,00,000 in annual spending are a significant perk for frequent spenders.
“A card that’s rewarding for your everyday life, whether you’re shopping, dining, or traveling, the HSBC Visa Platinum Credit Card delivers value in many ways.”
FAQs
1. Is the HSBC Visa Platinum Credit Card really free?
Yes, there are no joining or annual fees associated with this card.
2. How can I earn 5X reward points?
You can earn 5X reward points once you spend INR 4,00,000 in an anniversary year, up to a maximum of 15,000 points.
3. Can I convert my points into air miles?
Yes, you can convert your reward points into air miles with airlines like Club Vistara, Air India, Etihad Airways, and more.
4. What happens if I lose my card abroad?
You can get a replacement card anywhere in the world within 3 days through HSBC’s emergency card replacement service.
5. Is the HSBC Visa Platinum Credit Card good for everyday use?
Yes, with cashback offers, reward points on every purchase, and no annual fees, it’s great for everyday spending.
Final Thoughts
The HSBC Visa Platinum Credit Card is a great option for anyone looking to maximize rewards without paying annual fees. With features like air miles conversion, 5X reward points, and cashback offers, it’s one of the most well-rounded credit cards available today.
However, it’s best suited for people who spend a lot, especially if you can reach the INR 4,00,000 spending threshold to unlock extra rewards. If you don’t spend that much or don’t travel often, some of the perks may not be as beneficial.
In conclusion, if you’re looking for a flexible, no-fee card that offers great rewards, the HSBC Visa Platinum Credit Card is worth considering.
