Up to 10% cashback, unlimited lounge access: HSBC credit cards get facelift

HSBC Premier Credit Card has brought offerings for travel, lifestyle and reward points for its existing and new customers

HSBC India unveiled a major upgrade to its credit cards on Tuesday, offering up to 10 per cent cashback on dining, food delivery, and groceries, unlimited domestic and international lounge access, and a forex mark-up of 0.99 per cent across geographies, among  other benefits.

The major facelift on its cards- HSBC Premier Credit Card and HSBC Cash Back Credit Card - elevate the experience for its affluent and wider base of mass credit card holders, said the company in a statement. 

According to the London-based bank, the upgraded HSBC Premier Credit Card caters to affluent customers, providing luxury benefits on travel, lifestyle spends, and offering Re 1 for every reward point during redemption. Cardholders also enjoy unlimited domestic and international lounge access with eight international free lounge visits for guests annually. 

The refreshed HSBC Cashback Credit Card on the other hand aims at a broader audience, offers 10 per cent cashback on dining, food delivery, and groceries (capped at Rs 1,000 per statement cycle), along with unlimited 1.5 per cent cashback on other spends, said the lender. 

“We aim to reward them (customers), every single time they make a transaction bringing to them unmatched benefits that offer both convenience and value. We hope our valued customers take advantage of this offer and maximise their benefits during this festive season as also with their everyday spends,” said Sandeep Batra, Head, Wealth and Personal Banking, HSBC India. 

Here is what each card offers

HSBC Premier Credit Card Features:

Welcome Offer: Metal card includes Taj Epicure membership and a Taj voucher worth Rs 12,000 upon activation.

Travel Benefits:

1. Forex mark-up of 0.99 per cent globally.
2.  Unlimited domestic and international lounge access, plus eight free lounge visits for guests annually.
3.  Cardholders can earn one air mile for every reward point across 20+ airlines in Star Alliance, including Air India.

Lifestyle:

1. Complimentary annual membership to EazyDiner for dining perks.
2. Additional instant discounts on restaurants.
3. Movie and event offers from BookMyShow, including buy one, get one free on tickets.

Reward Points:

1. You can earn 3 reward points for every Rs 100 spent.
2.  Evergreen reward points come with no expiry date.

Fees:

Joining fee: Rs. 12,000.

 Annual fee: Rs. 20,000 (waived for qualified premier customers of the Bank).

HSBC Cashback Credit Card Features: 

Cashback Benefits:

1. Up to 10 per cent cashback on dining, food delivery, and grocery.
2. Unlimited 1.5 per cent cashback on other expenditures.

Airport Lounge Access: Four complimentary domestic airport lounge visits per year (one per quarter).

Introductory Offer: Cardholders get an Amazon voucher worth Rs 1,000 with a minimum transaction of Rs 10,000 within the first 30 days of card activation.

Fees:

Joining fee: Rs 999 for new customers.

Renewal fee: Waived off on spending Rs 2 lakh in a year.

Cashback capped at Rs 1,000 per statement cycle for specified categories.

HSBC Cashback Credit Card Spends

Orders

Spends

Cashback (in%)

Cashback (in Rs)

Grocery

4000

10

400

Dining

3500

10

350

Food delivery

2000

10

200

Coffee

500

10

50

Travel/Flights

6000

1.5

90

Pharmacy/Medicine

1000

1.5

15

Online shopping

4000

1.5

60

Utilities

3000

1.5

45

Fashion/Clothing

4000

1.5

60

Fuel

2000

0

0

Total

30,000

 

1270

Effective cashback

4.20 per cent*

 *The effective cashback will vary based on total spends

The table is only for illustration purpose

Capping explained 
On food delivery, dining, grocery spends, the card offers 10 per cent cashback (capped up to Rs 10,000) - on all other spends, the card offers unlimited 1.5% cashback

This festive season, several banks introduced offers catering to specific customer needs. From gadgets to groceries, travel to dining, credit cards offer exclusive discounts or reward points for specific online retailers and restaurants, amplifying your savings.

For example: The HDFC Regalia Gold Credit Card offers 5X Reward Points for every Rs 150 spent on retail at Myntra, Nykaa, Marks & Spencers, and Reliance Digital. Cardholders also enjoy 12 complimentary airport lounge accesses at domestic and international terminals in India, among other benefits.

The SBI Card ELITE provides 5X Reward Points on Dining, Departmental stores, and Grocery Spends. Additionally, cardholders earn 2 Reward Points per Rs 100 on all other spends (excluding fuel).

With the Axis Bank My Zone Credit Card, users receive a free SonyLiv Premium subscription for 1 year (worth Rs 999). The card offers monthly 2 times - Flat Rs 120 off at Swiggy, up to Rs 1000 off on Ajio (minimum spends of Rs 2999), and a 100 per cent discount on the second movie ticket at Paytm Movies.