HSBC Cashback Credit Card Review

Editor’s note: This is a recurring post, regularly updated with new information and offers. Last Updated 5th Dec 2023.

HSBC has recently revamped their Cashback Credit card and I would say it has been revalued as an exception in this season of brutal devaluations. Since earning points for travel is again becoming difficult many people are shifting to cashback credit cards to bump up their valueback.

Here's a quick review of this great credit card from HSBC Bank!

Charges and Welcome Benefits​

Joining Fees​	₹999 + GST​
Welcome Benefits​	Amazon voucher worth ₹1000 on spending ₹10000 within the first 30 days​
Annual Fees​	₹999 + GST​
Annual Benefits​	NIL​
Annual Fee Waiver​	Spend ₹2L on your card in a year for an annual fee waiver*.​
Add-on Fees​	NIL​
Card Category​	Cashback​

The welcome voucher compensates the joining fee but there will be no annual benefits for paying the annual fees.

Reward Rate​

Spends Area​	CashbackRate​	Capping​
All dining, food delivery and grocery spends​	10%​	₹1000​
All Other Spends*​	1.50%​	Unlimited​

• *Cashback cannot be earned on transactions made on Fuel, e-wallets, rental payments, Business to Business transactions, education and government payments, Insurance, Jewelry and antique items, Gambling, Tolls and Bridge Fees, Financial and Non-Financial Institutions, Security Broker Services, Collection Agencies, Charity, Money Transfers and Wholesale Clubs.​
• Your cashback will be credited within 45 days after the statement generation date​
• No cash-back redemption fee is applicable​

Other Benefits​

Airport Lounge Access​

Domestic Airport Lounge Access
Complimentary Limit – 4 Visits/ Calendar year (1 per quarter) within India only for primary cardholders.
Access Via – Credit Card

Fuel Surcharge Waiver​

No fuel surcharge waiver is applicable on this card.

Forex Markup​

Forex markup charges are applicable of 3.5%+GST.

Eligibility​

• You must be aged between 18 to 65​
• Your annual income must be at least INR400,000 per annum (for salaried individuals)​
• You must be an Indian resident​
• You must reside in any of the following cities: Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, New Delhi, Noida, Pune​

HSBC Bank is currently only offering their credit cards to salaried individuals that too very strictly. If you are a self-employed individual then you may try your luck by opening a premium bank account against a huge NRV.

TechnoFino Recommends​

A simple no-nonsense cashback card from HSBC Bank which caters to both Groceries and Dining that too at a flat 10% rate which I would say is unheard of before. Earlier Kotak was offering such cashback on their Essentia and Delight credit cards with some conditions and now have been discontinued.

If you are looking for a great multi-utility card for all your grocery and dining spending then this card should be there in your wallet! Not to worry about the fees since in festive time reaching that upper cap on 10% cashback even for just one time will make your card free virtually for the year. This card is in direct competition with the HDFC Swiggy card now.

Are you planning to get this card? Tell us in the comments below about your experience.

 

[P B R G]

People getting the Cashback card recently, please share your number of enquiries in the last 3 months and 6 months.

I had 4 enquiries in the last 3 months (3 in December alone) and 10 enquiries in 6 months (Jul to Dec). Approval ka chances hai with these many enquiries?

 

[DevD]

salary slip, bank statement and one smart pic of mine 😁😁😎

Can hsbc card be applied on c2c basis ? I have applied yesterday but could not complete the vkyc. Today the vkyc link is not working..

 

[TheGuy]

card be applied on c2c basis

No.

They have very very low ITR limits. They just want less credit exposure and salary and city.

 

[DevD]

No.

They have very very low ITR limits. They just want less credit exposure and salary and city.

what about expired vkyc link ?

 

[TheGuy]

what about expired vkyc link ?

I am unaware about its resolution. Someone with experience can chime in.
You can call them (if having existing relation), visit branch. Or they will call you for alternative way.

 

[vijay.vj]

People getting the Cashback card recently, please share your number of enquiries in the last 3 months and 6 months.

I had 4 enquiries in the last 3 months (3 in December alone) and 10 enquiries in 6 months (Jul to Dec). Approval ka chances hai with these many enquiries?

I had 13 enquiries in 3 months and they gave me the card. Your 4 enquiries is nothing !

 

[TheGuy]

13 enquiries in 3

Can you talk about approx credit exposure? (Income:Unsecured Potential Liabilities)

Or income >2L..

I have 6 in 3 months and rejected. Rejected for 4. Going on hiatus.

 

[vijay.vj]

Can you talk about approx credit exposure? (Income:Unsecured Potential Liabilities)

Or income >2L..

I have 6 in 3 months and rejected. Rejected for 4. Going on hiatus.

Income > 1.5L/m

Unsecured CC limits = 40.6L (when applied for HSBC)

HSBC CB card provided with limit of 1.5L

 

[CardGame]

Income > 1.5L/m

Unsecured CC limits = 40.6L (when applied for HSBC)

HSBC CB card provided with limit of 1.5L

Total number of secured & unsecured credit products?

 

[akshayhs]

i think on 3rd Dec via cashkaro but the smart executive applied again via her own referral so I lost cashkaro cashback. Now I am going to irritate them for LTF. A long battle with HSBC lets see who wins.

What is the credit limit to salary ratio given?

 

[Calm Radiance]

I am unaware about its resolution. Someone with experience can chime in.
You can call them (if having existing relation), visit branch. Or they will call you for alternative way.

just ditch HSBC and save yourself the trouble! If at beginning such is the experience and commented by several other members the unpleasant experiences with HSBC cards, better to stay away from such headache , IMO

 

[vijay.vj]

i think on 3rd Dec via cashkaro but the smart executive applied again via her own referral so I lost cashkaro cashback. Now I am going to irritate them for LTF. A long battle with HSBC lets see who wins.

dues HSBC ever provide this card as LTF?

 

[Calm Radiance]

dues HSBC ever provide this card as LTF?

No, they don't.

 

[vijay.vj]

No, they don't.

yep, thats what I know too. I was just curious looking at your post.

 

[hellobois]

dues HSBC ever provide this card as LTF?

no idea, ill share after getting an idea.

 

[hellobois]

What is the credit limit to salary ratio given?

2 : 5 but still good for me

 

[shivanshbhardwaj]

HSBC should increase their Branches and Serviceable Areas if they want to bet big on Retail Banking sector else it will be just a wannabe HNI banking bubble waiting to burst like ABN AMRO.

They should also add new tiers of Credit Card products for their large HNI customer base.

Totally agree on that part

 

[shivanshbhardwaj]

dues HSBC ever provide this card as LTF?

Not sure about LTF, however my friend had an account in the bank, he did got FYF, like in the middle of '23.

In the end, he still got charged. I don't know, if they reversed it later on or not

 

[hellobois]

Not sure about LTF, however my friend had an account in the bank, he did got FYF, like in the middle of '23.

In the end, he still got charged. I don't know, if they reversed it later on or not

I called them today and they denied LTF for cashback. they told me that no LTF on cashback only platinum is offered LTF.

 

[shivanshbhardwaj]

I called them today and they denied LTF for cashback. they told me that no LTF on cashback only platinum is offered LTF.

You could request for FYF, if any offer is still available