HSBC Bank offers different credit cards as per the varied needs of individuals that help them to avail of cashback on online shopping, complimentary movie vouchers, reward points, and many more benefits. If you are looking for a lifetime free credit card, then the HSBC Visa Platinum Credit Card is the best option for you as it has no annual/joining fees. It is an entry-level card and is basically for those individuals who are new to the credit scene. It also provides a sign-up bonus of INR 2,250, which is a decent offer compared to other lifetime-free cards available in the market.
HSBC Visa Platinum Card – Features and Benefits
- Get an Amazon Voucher worth INR 500.
- Get 3 complimentary access to domestic and international lounges or 3 meal vouchers at airport-located restaurants in India.
- Get a discount of 50% (up to INR 100) on the first transaction made on Google Pay.
- Cardholders will get 10% cash back on five transactions with a total spend of INR 10000 within the first 60 days of issuance of the card.
- The Cardholder will get a cashback of INR 250 if he spends INR 50000 in the calendar year. The maximum cashback that a cardholder can get is INR 1000.
- Get a “BOGO” offer on Book My Show while booking movie tickets on Saturday, a maximum of up to INR250.
- Get a discount on Tata Cliq of up to INR 300 on a minimum transaction of INR 1000 once a month, every Thursday.
- The cardholder will get a discount of up to INR 1500 on electronics every Thursday with a minimum transaction value of INR 3000 once a month.
- With an HSBC Credit card, the cardholder will get a 10% discount up to a transaction of INR 1500 on the Tata Cliq luxury website. The minimum transaction is INR 5000 once a month on every Thursday.
- Earn 2 reward points if you spend INR 150.
- Earn 5x rewards if you spend INR 400000 in the calendar year.
HSBC Visa Platinum Credit Card Eligibility Criteria –
To qualify for an HSBC Visa credit card, some eligibility criteria are to be met–
- The age of the applicant should be between 18 and 65 years of age.
- The applicant’s income should be stable and good, i.e., a minimum of INR 3 lakh per month.
- The card will be issued only to salaried people; in case a self-employed person wants a card, he should have a savings/current account in HSBC Bank.
- The applicant should be an Indian resident.
- The applicant must belong to one of these cities: New Delhi, Bengaluru, Hyderabad, Gurugram, Chennai, Mumbai, Noida, Pune, Kolkata, Chandigarh, Ahmedabad and Jaipur.
How do you apply for the HSBC Visa Platinum Credit Card?
Mentioned below are different ways to apply for HSBC Visa Platinum Credit Card:
Option 1: Open the official website of HSBC Bank. Click on “Credit Cards” and then click “Apply Now”.
Option 2: Call the customer care numbers, and the executive will then assist you in applying for the HSBC card.
Option 3: Visit any nearest HSBC branch to apply for an HSBC card.
Documents Required
- Salary slip/certificate in case of a Multinational Corporation (MNC) employee.
- A copy of the front side of the credit card and the latest credit card statement (applicable if you have other credit cards).
- Copy of the latest salary slip, along with the bank statements of the last 3 months showing salary credits in case of the salaried employee in a Private Limited Company.
- Proof of residence, identity, and Permanent Account Number (PAN) card / Form 60.
Fees & Charges
Particulars | Details |
Finance Charges | 3.3% p.m., i.e. (39.6% p.a.) calculated from the date of transaction |
Annual Fee | Nil |
Minimum Payment Due (MPD) on extended credit usage | 5% of the total payment that is due to the statement plus greater of past due / over the limit due (if any), subject to a minimum of INR 100. The interest is calculated on the extended credit as per the terms and conditions |
Interest-Free Credit Period | Up to 45 days |
Add-on Fee (per annum) | Nil |
How do you increase the chances of getting the card approved?
One should consider the mentioned strategies in mind before hitting the HSBC Credit Card Apply button:
- Before applying for a new credit card, always check your credit history.
- One should only apply for pre-approved HSBC credit cards.
- Reduce overall debts.
- There should be lower credit utilisation.
- You must hold a bank account with the bank.
What are the Chances of a Re-Application once rejected?
One can re-apply for a new credit card application in case it gets rejected by the bank due to non-fulfilment of any of the eligibility parameters But, one should keep the below-mentioned things in mind:
- There should be a gap of at least 3 months from the date of rejection of the credit card application in order to reapply.
- Try to improve your credit score.
- Avoid applying for credit-specific applications at around the same time.
- You should reconsider the credit card application till all the queries get resolved at once.
Things to be considered before Upgrading:
If the cardholder wants to upgrade any of the HSBC cards to another card that offers more rewards and benefits, and the new card has a higher credit limit or has other features like ATM withdrawal at no charge or a short-term loan, below are the points to be noted:
- The account should be open for 4 months before you request an upgrade account.
- If you have a good history of on-time payments and low credit utilisation, your chances of upgrade increase.
- HSBC only allows upgrades within the same family. For example, a normal credit card will not be upgraded to a business card or co-branded card.
- If you upgrade to an HSBC card with an annual fee, the charge will then appear on the first monthly statement of the new card.
- If you have to pay some refund on your previous card’s annual fee, HSBC will calculate the amount of the refund on a pro-rata basis and on how long it’s been since the fee was posted to your original account.
- If you opt to upgrade to a new card, you will not be allowed to get any bonus with the new card unless they’re included as part of the upgrade offer.
- HSBC does not affect your credit score, nor does it require a hard inquiry on your credit report.