HSBC Visa Platinum Credit Card

HSBC Platinum Credit Card Overview:

As a premier banking and financial institution, HSBC has its headquarters in London, United Kingdom and has a presence in over 80 countries across the world. One of the four major clearing banks in the United Kingdom, HSBC offers a variety of cards to suit every individual's need.

The HSBC Platinum Credit card is designed to enhance customer lifestyles and to add a touch of glamour and luxury. This card has various offers to complement shopping, dining and travel related needs and also comes with a host of amazing benefits and features.

Benefits of the HSBC Platinum Credit Card:

Customers can receive a cashback of 10% on all purchases within the first 90 days of availing the card.

Customers can receive a cashback of Rs.7,500 on International Flights when booking is done via MakeMyTrip.com. Additionally, cardholders can avail savings of Rs.1,200 on domestic flights when booking is done through ClearTrip.com.

For the first 12 months of availing the card, HSBC Platinum Credit Card users are liable to receive 3X rewards on transactions related to hotels, dining and telecom categories.

The best part of procuring this card is that customers need not pay any joining fee or annual fee.

Features of the HSBC Platinum Credit Card:

HSBC Platinum Credit Cardholders, on spending more than Rs. 50,000 in a calendar month, can receive a voucher for movie tickets that is worth Rs. 500. Apart from this, they are also liable to receive upto Rs. 3000 worth free tickets annually as part of this offer. Users will be sent an SMS containing a unique 'Promotion Code' within 30 days of the offer period.

When cardholders book two movie tickets on the BookMyShow mobile app using their HSBC Platinum credit card, charges will be waived for one ticket, effectively paying for just one movie ticket. Cardholders must note that only one free ticket can be availed per calendar month and add-on cards have a separate eligibility criteria. This offer is valid until 31 August 2017.

HSBC Platinum Credit Card holders can avail fantastic discounts on gourmet dining experiences of up to 20% as part of the HSBC Dining Privileges in various top cities.

For spends between Rs. 400 and Rs. 4000 done on fuel purchases, customers can now enjoy a surcharge waiver of a maximum of Rs.250 per calendar month.

Air Miles conversion can be done if cardholders are travelling by flights from Jet Airways or Singapore Airlines.

HSBC Platinum Credit Card users have no lost credit card liability post registering a reporting the loss of their card to HSBC. Apart from this, users are also covered for the misuse of their cards for up to 24 hours post registering if the amount is a maximum of Rs. 300000.

All HSBC Platinum Credit Card users can have access to the Visa Concierge Services at all times, from any corner of the globe.

If customers lose their HSBC Platinum Credit Cards, while abroad, they can contact the HSBC Helpline numbers or the Visa Global Assistance Services. Post this, an emergency card will be issued within 3 days. Instead of this customers can also choose to procure emergency cash at more than 20,000 outlets all over the world.

Customers have the option of paying for the item of their choice such as a TV, Laptop or even a holiday through their phone thanks to the ‘Loan on Phone’ feature available on their HSBC Platinum Credit Cards. Customers can contact the HSBC Phone Banking service within 15 days of purchase in order to convert the same into a loan.

The HSBC Platinum Credit Card is accepted world over in more than 18 million outlets and at over 100,000 outlets within the country itself.

Customers can now transfer their outstanding credit from other banks that is above Rs. 3000 to their HSBC Platinum Visa Credit Cards at low rates of interest with no defined term as such. The interest charged on the balance that is transferred is 1% - 1.2%, every month. Users need to only ensure that a minimum payment of 5% of the outstanding balance transfer amount (A minimum of Rs. 100) is made and in case of an early repayment of this amount, foreclosure charges are not applicable. However, a processing fee at 1% (a minimum of Rs. 149) is charged.

HSBC Platinum Credit Card users can rejoice as shopping is now a much more convenient and enjoyable experience. Customers can pay for their favourite purchases through EMIs using their HSBC Platinum Credit Cards. Customers can also earn Reward Points on these EMI transactions. Users have the option of paying EMIs for tenures that vary from 3 to 12 months. All of this without the requirement of additional documents, however interest rates and processing fees are applicable.

Customers now have the option of converting their outstanding balance into EMIs. Users can choose tenure options ranging from 6 to 12 months and a processing fee of 2% is applicable on each balance conversion request. Apart from this, 15% per annum will be the interest rate that is charged, along with a processing fee of 2% that would be levied on the balance amount, converted to the HSBC Platinum Credit Card.

HSBC Platinum Credit Card users can now earn 2 reward points on every purchase worth Rs. 150. These rewards can be redeemed by calling HSBC Phone Banking or visiting the HSBC website.

This one-of-a-kind feature allows users to transfer any amount that is outstanding on their other credit cards to their HSBC Platinum Credit Cards with the option to repay in simple installments every month, at a low rate of interest. Customers also have the option of choosing their repayment tenure of either 6, 12, 18 or 24 months. An interest rate of 15% per year or 1.25% per month for a tenure of 6 or 12 months is applicable and an interest rate of 18% per year or 1.50% per month is applicable on a tenure of 18 or 24 months. A processing fee of 1.5% of the Balance Transfer on the EMI amount for an option of 6 months and 1% for the other tenure options is also charged. A minimum of Rs. 149, will be charged as processing fees.

This feature ensures that HSBC Platinum Credit Card holders can procure the cash advance facility on their card and pay back through easy EMIs. Rate of interest applicable will be 18% per year to 24% per year for their cards. Customers also have the option of choosing a tenure of either 6, 12, 18 of 24 months to repay the loan. Apart from this, a processing fee of 2% to 3% is also charged (a minimum of Rs. 200).

Users can receive a credit free period of a maximum of 52 days without additional finance charges. However, this option is available only if the outstanding amount on their HSBC Platinum Credit Card is paid in full before the due date. If a part of the payment is made, then there will be interest charged and this period is not applicable for transactions related to cash advance.

HSBC Platinum Credit Card users can purchase the item of their choice by only paying the minimum due amount and then paying the rest at a later date. However, a finance charge of 39.6% annually or 3.3% per month is applicable.

Users can withdraw cash from more than 700000 ATMs affiliated to MasterCard/Visa/Cirrus and at all HSBC ATMs. Users also have access to cash from any other ATM/authorised cash advance/authorised money changers to a maximum of 50,000 per day. There is also a transaction fee and finance charge that is applicable on the cash advance option. Finance charge is applicable from the day cash is withdrawn until the day all dues are repaid completely. Additional identification details may also be requested if cash is being withdrawn over the counter.

There are additional facilities available at HSBC ATMs within the country. Customers can find out details regarding their minimum due payment, credit card account balance, PIN change, payment due date enquiry, latest credit card statement etc.

Under the Foreign Exchange Management Act (FEMA), 1999, customers can use their HSBC Platinum Credit Cards to pay for expenses within their credit limits, regardless of foreign exchange entitlement.

HSBC Platinum Credit Cardholders have the benefit of accessing their bank accounts through their cards for transactions related to withdrawal of cash, funds transfer, request for statements within the country, request for cheque books etc. A transaction fee is also charged.

HSBC Platinum Credit Card holders have the option of using their credit card numbers and ATM PIN to get themselves registered for Personal Internet Banking to create an ID and password of their choice. They also have the option of checking their credit card transactions, redeem reward points, download their statements and also communicate using the online messaging option.

With the help of the Phone Banking facility, customers can pay their bills, find out information related to their outstanding balance and much more without having to go to the bank directly.

HSBC provides an OTP or a One Time Password for greater security and hence secures their HSBC Platinum Credit Card for usage. This OTP will be sent directly to the customer’s mobile number through an SMS.

HSBC Platinum Credit Card users can now apply for a maximum of three credit cards for their family including their parents, spouse, siblings or children who are above 18 years of age. These additional cards will also enable the customer’s family to share the primary credit card limit. These additional card holders can also access their HSBC accounts through their card. Whenever applicable, the annual fee will be included in the account statement and will not be provided in a separate monthly statement.

Fees and Charges:

HSBC Platinum Credit Card FAQs:

1. How does the Rewards Program work?

   HSBC Platinum Card users can earn two Reward Points every time Rs. 150 is spent on their credit cards. These Points can then be exchanged for a variety of fantastic gifts and vouchers. Apart from this, customers can also earn EXTRA points when they shop from partners such as Wills Lifestyle, Vodafone, Godrej Interio and others. These points are valid for a maximum of three years.

   Apart from this, customers also stand to earn up to 5X rewards on purchases made after spending a maximum of Rs. 400000 a year up to a maximum limit of Rs. 1000000 annually. The regular Reward Points earned will be added on the HSBC systems whereas the EXTRA Reward Points will be credited at the end of the month and will be shown in the next month’s statement. It is to be noted that once customers receive 5X rewards, they will no longer be eligible to receive the 3X rewards.

2. What are the late payment charges that are applicable?

   The late payment charges that are applicable depends on the minimum payment that is due. The table below illustrates this further. The amount charged as penalty for late payment is 50% of the minimum amount that is due. However, the minimum penalty amount charged is Rs. 400 and the maximum is Rs. 750.

   Minimum Payment Due	Late Payment Charges
   100	400
   250	400
   500	400
   1000	500
   1500	750
   2000	750

3. Is there a joining fee charged?

   No, there is no joining fee applicable while procuring a HSBC Platinum Credit Card.

4. What are some of the payment options that are available?

   Some of the payment options that are available are Electronic Fund Transfer, Visa Money Transfer, Over the Counter, Visa Bill Desk, Draft/Mail Cheque and Phone Banking among others.

5. How can customers apply for a HSBC Platinum Credit Card?

   Customers can apply for a HSBC Platinum Credit Card in different ways such as -

   • By applying via the HSBC website.
   • By calling the HSBC Phone Banking numbers
   • By visiting the closest HSBC