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.
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.
Reward points program:
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.
|Type of fee or charge||Amount (Rs.)|
|Interest rate||3.3% per month|
|Cash withdrawal fee||2.5% of the transaction amount (subject to a minimum of Rs.300)|
|Rewards redemption fee||Rs.50 per request|
|Duplicate statement fee||Rs.100 per statement which is older than 3 months|
|Cheque bounce/Unsuccessful ECS payment||Rs.350|
|Cash withdrawal fee at foreign ATMs||Rs.100|
|Overlimit fee||Rs. 500 per month|
|Late payment fee||50% of the minimum due amount (subject to a minimum of Rs.400 and a maximum of Rs.750)|
|Sales slip retrieval fee||Rs.225 per month|
|Out-of-town cheque processing||
|Credit card replacement fee - India and abroad||Rs.100|
|Currency conversion fee||3.5%|
|Cash payment at HSBC branches||Rs.100|
|Copy of Credit Information Report||Rs.50|
The basic eligibility to apply for HSBC Platinum Visa Credit Card is provided below:
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.
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.
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.
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.
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