HSBC Visa Platinum Credit Card Review (India)

By | February 6, 2019

Thanks to the longtime reader Mouli for adding his valuable inputs in making this article possible.

I’ve been asked to review the HSBC Credit cards for couple of years now but i had always postponed it as i thought HSBC would go out of business. Well, I read somewhere few years back that HSBC isn’t interested in getting aggressive on Indian Credit card business so i thought they’ll exit soon.

Fortunately they didn’t. But they’re choosy in issuing credit cards, like, they don’t encourage self-employed individuals. Anyway, i’m happy to finally share the review of their Platinum Credit card with some good insights.

While there are multiple credit cards in HSBC portfolio, i believe HSBC Visa Platinum Card is the only one they’re actively promoting. So this is the review of the same.

HSBC Platinum Credit Card
  • Joining Fee/Annual Fee: Nil

The surprising part of HSBC credit cards is that they don’t have any joining/annual fee on any of their cards.

Welcome Offers

  • Get ₹2000 Cleartrip voucher on first transaction (Limited period offer)
  • Get 10% cashback (up to ₹2500) for making a minimum of 9 transactions totaling to ₹10,000 or more in the first 90 days.
  • 3X Rewards on Dining, Hotels and Telecom for first 12 months from the date of issuance of your credit card

Regular Offers

  • BookMyShow voucher worth ₹500(2 * 250 voucher) on spending over ₹50,000 in a calendar month. Maximum of ₹3000 per cardholder in a year.
  • Buy 1 Get 1 Tickets has to be only for Saturday shows but you can book on any day the week. Once in a month. Add on card treated as separate card.
  • On Fridays you can get Rs.1200 discount for roundtrip and 1200 off on hotel bookings also using CTHSBCFRIDAY. Add on card treated as separate card.
  • On Sundays you can get maximum of Rs.10000 cashback (10%) for making international flight tickers in MakeMyTrip. Add on card treated as separate.
  • Swiggy Offers: 50% discount up to ₹125 valid on your first order on Swiggy | 25% discount up to ₹150 valid on your order on Swiggy
  • 30% discount on treebo hotels

Balance Transfer and Loan Facility

They seem to have impressive rates and this is what Mouli has to say: “Though I am preferred customer in HDFC and have priority relationship with other banks but still HSBC is my goto card for all BT and loan as they offer the lowest percentage and processing fee.

Last month for BT it was 10.9% interest and 1% processing fee and they will give you Rs.300 Uber voucher for taking BT and loan from them.”

Reward Points

  • 2 reward points for every 150 except fuel transactions
  • 5 Times (5X) Rewards on subsequent purchases made after crossing spend amount of ₹400,000 in a year up to a maximum of ₹1,000,000 in a year

Ideally, you can get ~45k Points on spending 10L a year.

Redemption Options

This is where you need to put your mind to some use. I wish HSBC made this part easier for everyone.

Catalogue Redemptions

  • Popular shopping Gift Vouchers available
  • Expected Reward Rate: 0.25% (normal) to 1% (on 10L spend)

Airline Transfers

  • Singapore Airlines (1 Reward Point = 1 Kris Flyer Mile)
  • British Airways Executive Club (1 Reward Point = 1 Avios Mile)
  • Jet Airways (2 Reward Points = 1 JPMile)

Hotel Transfers

  • Taj InnerCircle (5 Reward Points = 1 TIC Point)
  • 1 TIC point = ~Rs.5
  • Reward rate: ~4.5% (only on 10L Spend)

Here are the numbers on Taj Points transfer,

For 45000 HSBC reward points in a year you will get 9000 TIC points. With this, you can get 7 nights stay in Taj Surya Coimbatore or 3 nights in Taj Fisherman’s Cove Chennai

Just like any other Hotel Loyalty program, based on the property, you can maximize the value even more.


So I have mixed views on this card as extracting value from it isn’t easy unless you’re into the points game. Airline transfers & Hotel transfers are the only ways to get handsome returns and suits only for those who could put 10L spend a year on it, nothing less, nothing more!

  • Cardexpert Rating: 3.5/5

Furthermore, if you club it with HSBC Diwali Offers you may get even more value, but it is overall far away to be called as “rewarding” for the regular cardholders.

Do you hold HSBC Credit Card? Feel free to share your experiences in the comments below.

Author: Siddharth

I love Credit Cards! Minting reward points and cashback for years. Now exploring Airmiles & Hotel loyalty programs. Obsessed with aviation, airport lounges and luxury travel at affordable cost.

40 thoughts on “HSBC Visa Platinum Credit Card Review (India)

  1. Hari

    Got this card last Nov. Got two cleartrip vouchers worth Rs 1000/- each. Still awaiting the cashback.

  2. Satish Kumar Agarwal

    Applied online for one of their credit card way back in 2014. Application rejected siting internal policy. Later got to know it doesn’t fall into their card service area.

    Now their card service areas are mentioned while applying and limited to 7-8 cities only.

    Though one of my friend was able to get their cc based upon his savings account, which I am unwilling to open now.

    1. Himanshu


      Exactly, There is no point of getting hdfc card through opening account with hsbc. Not that exciting rewards. I agree with sid that hsbc should new products in Indian market or they will exit soon.

  3. Surya R

    Cleartrip vouchers were kind of useless for me. Applicable only on roundtrip flights of total value 4000 INR and maximum discount was 1000 INR. I never used those.

    1. Mouli

      Only round trip no minimum value of 4000, I used these vouchers for 3500 also
      In short for a lesser price tickets less than 4000,this vouchers are useful
      For high priced tickets where the return fare is more than 5000 then this is of no use

  4. Hardik

    Applied for this card on c2c basis and i fulfilled itr requirement too and was very sure would be receiving it, but they declined to provide card to me on some internal criteria, self employed tag maybe the reason, did someone received card on self employed as profession, please let me knw!

    1. Himanshu

      I also applied last year as i am self employed given ITR and also my credit card statement. Reason is “internal bank policy”.

      Now they have stopped processing cards to self employed. Clearly written on their website.

      1. Hardik

        Ohh that’s really wrong, banks should understand that we also deserve some respect, we don’t have stable income but we mostly earn more than a base salaried earn in their criteria and secondly when i applied in their website it was mentioned as eligible by providing more than 4 lakh itr and then too they declined which is wrong!

  5. balaji

    Also they have regular Monday 10% instant discount upto 1500 on Flipkart.

  6. Rohit

    I am using the card for the past few months. Another promotional offer they are running is 500 Amazon voucher on spend of 3k every month. At least 1 spend in dining , telecom and fuel, valid till 31 march. Note sure if this is a targeted offer.
    On the clear trip vouchers there was a catch associated with it. It was 2- 1000 rupee vouchers which were like promo codes. Not sure if it has changed now.

  7. Hussain Bootwala

    I have this card.. I just use it for Book my show bookings on Saturday.. Also the credit limit they give is quite good compared to other Indian banks.. So that’s a plus

  8. Mickey

    I think the biggest drawback of this card is no lounge access. They should charge a basic annual fee of maybe Rs 500 per year (waived off on a spend limit) and offer domestic lounge access at least. Otherwise the benefits are not very compelling to go for this card

  9. Shashi Gupta

    Got this credit card almost 2 years back ( as salary account ) . From that time its being rarely used because every time there are better offers on SBI/HDFC/Amex/SC.
    Mainly used this card for insurance payment only for which i have registered as payee.
    As per my opinion, apart from welcome offers this card is having very basic features and can be treated as just a back up card ( As its lifetime free).

    I hope HSBC will come up with some features on this card ( or new card ) in near future.

  10. Dheeraj

    I had been using HSBC platinum card for more than 10 years, balance transfer & cash on loan are offered at a pretty attractive lower interest rate as compared to others, I’m also a HDFC preferred customer & their offerings on insta & jumbo loans are also very attractive & the best part with HDFC is the goodwill it gives to customers based on usage & time, In HSBC’s case they are least bothered about customers usage & goodwill, but the best part of this HSBC Card is you get 52 days of credit period for a statement cycle which I believe is the maximum day’s any credit card is offering.

  11. A2Z

    HSBC Card is not exceptional but its definitely valuable compared to few others like Kotak, Axis etc.
    It gives real value by offering discounts on certain category of spends.
    It’s kind of friend who is there when you indeed need him.
    I never consider HSBC rewards a deal breaker but other offers definitely make it a must hold card.

    1. HSBC Currently running upto 1500 Amazon voucher offer under which if spent 3000 cumulative across 3 categories Fuel, Telecom & Dining then one can get 500 amazon voucher per month valid Jan-March 2019.
    2. Spends based offers have become frequent on HSBC Cards.
    3. HSBC had 500 off on non-movie bookings at bookmyshow valid till 31st Jan 2019
    4. HSBC had offline instant discounts during EOSS in few departmental / Retail stores like Shoppers Stop

    HSBC allows to hold multiple cards so one holding VIsa Platinum may try for Smart Value card.

    1. Siddharth Post author

      On multiple cards, do they have shared limit or separate?

      1. A2Z

        When I held 2 Visa Platinum cards during 2006-2008 they had separate limits.
        Not sure about current scenarios
        But their executives (on field & online both) confirmed that if their credit assessment approves one can get even 2nd Visa Platinum card too.
        One online executive boasted about holding 2 cards himself.
        I tried via bankbazaar but that was not processed for me last year.

  12. Manoj

    Hi Sid,
    Thanks for the review. Can this card be used as replacement for indusind platinum. But, i guess reward point value in indusind card is more 1RP=0.81 for card statement settlement.
    what do you suggest as i’m holding multiple beginner cards since long

    1. Mouli

      HSBC card being free card and more offers for travel and better rates for loan and BT,you can have it as backup

  13. Nipun

    I have my deep love and respect for this card… In 2008 HSBC gave me a 5gm Gold Coin on 50K Spending, that was really attractive in those young Days.

    Now also they keep on coming with some or the other offer like During December they gave a offer of 3500 off on Spent of Rs.1.00 Lakhs.

    Now also they running they with a 500 Amazon offer on 3 transaction in category spend.”

    I am really not sure this was my 1 or 2 card after Vijaya Bank, a Friendly bank which trusted me first card.

  14. Rakesh

    Unlike other banks, HSBC wont give Visa signature variant but rather…it gives lot of direct benefits like BMS winpins, Cashbacks, cleartrip, MMT offers.

    5X points after 4L spend is real cool one, which most of us ignore !

    1. Priyank

      Not really.

      The normal reward rate comes to 0.5 %, with 5x it shoots to a mere 2.5% which can be beneficial only in loading money to wallets. Otherwise, SBI Prime would give 2.5% reward rate on Movies, dining, grocery and departmental store purchases which is great!

  15. Prakash Kumar

    I applied this card couple of months back but they rejected my application. I own 5 CCs and have a very respectable 837 Experian score. Disappointed.
    PS: I’m salaried individual.

    1. babu

      This month I have applied for HSBC Visa platinum credit card and got approved.Already am having 12 credit cards from 10 banks. Am also salaried employee and my Experian score is 823.

  16. Nimesh Shah

    Buy 1 get 1 movie ticket is not actually like that. You only get INR 200 off on the 2nd ticket. I have this card and have availed the offer.

      1. GTMAX


        It has been changed to 200/- now from last 2-3 months I guess.

  17. Murali

    Sid, I just received this card and have made first transaction. Can you please let me know what is the interest free days? I dont find that info anywhere in their mailer.

    1. Himanshu

      I confirmed it with customer care. There is a total of 52 interest-free days. The SCR told me that you need to pay your bill within 22 days from the date of statement generation.

  18. Himanshu

    Can anyone let me know if HSBC comes up auto limit enhancement based on spends and payment pattern or do we have to send the income documents every time we need to get the enhancement?

  19. Balaji Ya

    I Have received my card and please help me out t generate the pin.


Leave a Reply

Your email address will not be published. Required fields are marked *