HSBC Visa Platinum Credit Card

HSBC Visa Platinum Credit Card is a no annual fee credit card offered by HSBC. The card provides interesting benefits across various lifestyle categories including dining, movies, travel, etc. However, applicants must have a minimum annual income of Rs.4 lakh to apply for the card.  Listed below are the features and benefits of the card along with other important information you must know. 

Key Highlights of HSBC Visa Platinum Credit Card

• A lifestyle credit card with attractive offers and rewards.
• Zero joining fee and annual fee.
• Exciting introductory offers.
• Accelerated reward points on select categories.

Lifestyle Benefits offered by HSBC Visa Platinum Credit Card

• Complimentary travel vouchers.
• 10% cashback within first 60 days of card issuance.
• Up to Rs.3,000 worth movie vouchers per year.
• 15% off on dining at partner restaurants across major Indian cities.

Features and Benefits

The HSBC Visa Platinum Credit Card comes with a host of features for the cardholder. Here’s a list of all of them: 

Zero joining fee and annual fee: All the features and benefits on the card can be enjoyed at zero cost. Yes, you read it right. HSBC offers the Visa Platinum Credit Card without any joining fee and annual fee.  

Introductory offers:  

• Gift voucher: Get 2 Cleartrip vouchers worth Rs.1,000 each within 60 days of completing first transaction on your HSBC credit card. Offer valid only on the cards issued on or before 20 July 2019.
• Cashback: Avail up to 10% cashback on all expenses made using the card within the first 90 days of receiving the card. The minimum transaction amount should be Rs.10,000 and the maximum cashback you can receive is Rs.2,500 per card. Offer valid only on HSBC credit cards issued on or before 31 March 2019.
• 3X reward points: Earn 3 times more reward points, i.e., 6 reward points for every Rs.150 spent on dining, telecom, hotels categories for 12 months from the time of card issuance.

Reward points program: 

• Earn 2 rewards points on every Rs.150 spent on all retail purchases.
• Up to 5 times more rewards points i.e., 10 reward points on every purchase made after the annual spend threshold of Rs.4 lakh up to a maximum of Rs.10 lakh within 12 months of card set-up.
• Accrued reward points can be redeemed for a wide range of redemption options including gifts, vouchers, airline miles, donation and charities.

Spend based rewards: Win a free entertainment ticket voucher worth up to Rs.500 on spends of Rs.50,000 or more in a calendar month. Maximum Rs.3,000 vouchers can be availed per cardholder in a year.  

Dining privileges: Through HSBC’s Simply Indulge dining program, you can avail up to 15% discount at select restaurants in your city.  

Fuel surcharge waiver: Enjoy surcharge waiver on fuel transactions between Rs.400 and Rs.4,000 valid at all petrol pumps across India. The maximum waiver is capped at Rs.250 per month.  

Zero liability on lost card: Report the loss of the HSBC Visa Platinum Credit Card within 24 hours and remain zero liable for any fraudulent transactions that might happen on the card.The policy would cover up to 24 hours before reporting the loss for up to Rs.3 lakh.  

Emergency card replacement: If you lost the credit card while travelling abroad, you can receive a new card upon request.Simply contact the HSBC credit card helpline numbers or the Visa Global Assistance Services and request for card cancellation and replacement. An emergency card will be issued within 3 days of reporting across the globe. You can also opt for emergency cash services available at over 22,000 outlets around the world. 

Global acceptance: The HSBC Platinum Credit Card can be used at over 18 million outlets and at over 1 lakh locations in India and globally. 

Loan on Phone: You can convert your purchases of minimum value of Rs.2,000 into EMIs within 15 days of the transaction. Multiple tenure options including 6, 12, 18, and 24 with interest rates ranging from 18% to 23.88% per annum are available on the facility. 

Instant EMI: The credit card Instant EMI facility offers a convenient experience to convert the purchases into EMIs while purchasing the product at the merchant terminals. The minimum transaction value should be above Rs.2,000 to convert into EMI.Various tenure options including 3, 6, 9, 12, 18, and 24 with interest rates ranging from 12% to 15% per annum are available on the facility. 

Add-on credit cards: You can apply for up to 3 add-on credit cards for your immediate family members including siblings, spouse, parents and children, above 18 years of age. The add-on cards will be provided at no extra cost. All the expenses on the cards will be billed against the primary cardholder and the same goes with the spending limit.  

Fees and Charges

Eligibility Criteria

The basic eligibility to apply for HSBC Platinum Visa Credit Card is provided below: 

• Minimum age of the applicant must be 18 years and maximum should be 65 years.
• Only salaried individuals can apply for the card.
• Minimum gross annual income should be Rs.4 lakh.
• Should be a resident of the cities in which the credit card is offered. Currently, the card is available in major cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai, Hyderabad, Noida, Gurgaon, and Kolkata.

Documents Required

If you’re eligible to apply for the HSBC Platinum Visa Credit Card, below are the documents you need to submit to process the application.

• Latest copy of pay slip or salary certificate from the employer.
• Copy of existing credit card and latest credit card statement.
• Last 3 months bank statements indicating salary credits.
• Proof of residence, identity and PAN card or Form 60. 

How to Apply for HSBC Platinum Visa Credit Card online?

You can visit HSBC official website to apply for the credit card. Alternatively, you can apply through BankBazaar and can stand a chance to win exciting offers.

The steps to apply through BankBazaar.com are mentioned here.

• Click on the ‘Check Eligibility’ button on the page to check your eligibility for the card.
• Once you clear that, you will find an option to ‘Apply’ for the card.
• Clicking on it would redirect you to ‘Credit Card Online Application’ page.
• Fill the required details, upload the relevant documents and click on ‘Submit’.

Upon successful submission of the application, you will receive an acknowledgement message with the ‘Application ID’, which can be used to track the application status in real-time.  

FAQs

1. What is the credit limit on the HSBC Visa Platinum Credit Card? 

The credit limit on HSBC Visa Platinum Credit Card will be communicated to you by HSBC at the time of card issuance. You can also find it in your credit card statement generated every month.  

The bank reserves the right to reduce the credit limit on the card at any time. You can also apply for review of the assigned credit limit at any time after completing six months. 

2. Does the HSBC Visa Platinum Credit Card provide airport lounge access? 

Currently, the card does not provide any complimentary airport lounge access facility.  

3. How does the rewards system work on the Visa Platinum Credit Card? 

You can earn 2 rewards points for every Rs.150 spent. Also, if you have already spent more than Rs.4 lakh in a year, every subsequent purchase after that will get you up to 10 rewards points. 

For spends on dining, telecom, and hotels, you can get up to 6 rewards points for the first 12 months of card set-up. 

4. What is the validity of the reward points on the Visa Platinum Card? 

All the reward points accrued on the Visa Platinum Credit Card are valid for 3 years. After the 3-year period, you will lose all the points if the points remain unused.