HSBC Cashback Credit Card

HSBC is a financial service organisation which has a long history of offering several financial services for seekers. This organisation has its headquarters situated in London, England. It offers services like insurance, savings accounts, NRI services, credit cards, and others.

HSBC Cashback credit card is a premium card which offers a wide range of services to its customers. It charges a joining fee and an annual fee of INR 999 plus GST charges. The membership fee is charged annually by the cardholders. There are also ways for waving off the annual fee which will be discussed below.

This credit card is best suited for shopping purposes. You can earn cashback offers by shopping on this card. Get cashback of 10 per cent on grocery purchases and dining and 1.5 per cent on all other spending using the credit card.

HSBC Cashback Credit Card Details

• HSBC credit card offers cashback of 10% on spending using this credit card for purchase of groceries and dining purposes.
• You also get 1.5% of the cashback offer on spending on all other categories through online mediums. For all other retail categories, you can earn 1% cashback.
• Using this HSBC cashback credit card, you can earn 1 get 1 movie ticket on Saturdays. 
• Get up to 15% discount on around 1,000resturants across India through the usage of this cashback credit card by HSBC.
• The cashback amount that you earn gets credited to your HSBC account within 45 days of statement release.
• You also get 4 domestic airport lounge access with this credit card in a year.

Advantages and Disadvantages of HSBC Cashback Credit Card

Advantages	Disadvantages
HSBC credit card comes with the welcome benefit of an Amazon voucher worth INR 1,000. Cardholders can avail this e-voucher after spending INR 10,000 within the first month of card issue.	With HSBC credit card, you do not get access to international airport lounge access.
This credit card offers complimentary airport lounge access four times a year in domestic airports.	There is no free lounge access for those customers choosing railways for travel.
You can get cashback on dining, groceries, and movies up to 10%. For online shopping the percent of cashback earned is 1.5% and 1% on all other retail categories.	There are no reward points, you can only earn cashback up to 10%.
Cashback credit card by HSBC offers free movie tickets on paying for only 1 ticket.

HSBC Cashback Credit Card Cashback Offer

• As the name suggests, the HSBC cashback credit card comes with a cashback offer of 10% on spending on groceries, departmental stores, and dining.
• For all online purchases, you can avail 1.5% cash back using the credit card.
• For all sorts of retail spending, you can earn up to 1% cashback for making transactions using the cashback credit card.

HSBC Cashback Credit Card Welcome Benefits

HSBC cashback credit card comes with the welcome perk of offering a cardholder an e-voucher gift card from Amazon for online shopping. You can avail of this perk on spending INR 10,000 during the first month of card issue. The e-voucher gift card is worth INR 1,000.

HSBC Cashback Credit Card Travel Benefits

• HSBC cashback credit cards offer four complimentary domestic airport lounge access per year. However, there is no access provided for international trips to its customers.
• For travel purposes, you can get insurance coverage up to INR 3 lakhs on losing the credit card or any misuse of the card through unatuhrized access.

HSBC Cashback Credit Card Offer on Dining & Movie Benefit

• In terms of dining and movie benefits, you can earn 30% cashback on using the card under the progam EazyDiner for making transactions.
• Also, avail one free movie ticket for free on paying for the other on Saturdays. This means you get 1 free movie ticket using this credit card.

HSBC Cashback Credit Card VS SBI Elite Credit Card

Reward Structure

HSBC Cashback Credit Card	SBI Elite Credit Card
HSBC cashback credit card does not offer reward points but rather offers you 1% to 10% cashback on various categories of shopping and dining.	This credit card offers 10 reward points on spending INR 100 on groceries, dining, movies, hotel bookings, and other categories.

Reward Rate With Partners

HSBC Cashback Credit Card	SBI Elite Credit Card
HSBC cashback credit card does not offer additional cashback on partnered restaurants. However, you can get around 15% cashback on dining in 1,000 restaurants around the nation.	You can get additional reward points with partnered restaurants and brands like Yatra, Bata, Pantaloons, and others.

Cashback Max Cap

HSBC Cashback Credit Card	SBI Elite Credit Card
This credit card has a maximum cap of earning 10% cashback on dining, shopping, and movie tickets. And a maximum cap of 1% on spending for retail purchases.	You can earn a maximum of 5X reward points on spending every INR 100 on all categories.

Joining Fees

HSBC Cashback Credit Card	SBI Elite Credit Card
HSBC cashback credit card charges you INR 999 plus GST charges as joining fee.	The joining fee of SBI Elite credit card is INR 2,999 plus GST charges.

Additional Benefits

HSBC Cashback Credit Card	SBI Elite Credit Card
With HSBC credit card, you can earn cashback offers for dining and shopping purposes. Along with it, you can earn free airport lounge access four times a year in domestic airports.	SBI Elite credit card offers complimentary airport lounge access for both domestic and international airports.

Who Can Apply for an HSBC Cashback Credit Card?

HSBC follows certain criteria for approving the issue of credit cards. Here’s who is eligible to apply for the HSBC Cashback credit card.

Age Requirement: Applicants should be between 18 and 65 years of age to qualify for the approval of this credit card. This age range ensures that applicants are legally adults capable of moving into an agreement and are also in the working age. Younger individuals would possibly lack sufficient credit score history, while the ones older than 65 might also face retirement-associated economic uncertainties. This variety balances capacity risks and guarantees dependable repayment capability.

Credit Score: A true credit rating is critical for mortgage eligibility. This reflects the applicant’s history of handling credit scores responsibly, which includes well-timed payments and low credit score utilisation. An excessive credit score reduces the lender’s danger and indicates the applicant’s creditworthiness. It is a key factor within the approval technique because it demonstrates the borrower’s reliability.

Nationality: Applicants should be residents of particular towns: Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, New Delhi, Noida, or Pune. This geographic limit enables the lender to manipulate and reveal the mortgage portfolio more successfully. It ensures that applicants are located in city regions with better employment possibilities. Additionally, it simplifies the verification system and decreases logistical demanding situations.

Income Requirement: For salaried individuals, a minimal annual income of INR  4,00,000 is required annually. This earnings threshold guarantees that applicants have sufficient monetary balance to manipulate loan repayments. It suggests a consistent supply of income, lowering the lender’s risk. This criterion additionally allows for assessing the applicant’s capability to fulfil month-to-month economic duties.

Documentation Required for HSBC Cashback Credit Card Approval

• Identity/Address Proof: Applicants are required to put up proof of identity, which includes an Aadhaar card or Voter card. These files are important for verifying the applicant’s non-public information and home address. They assist the bank to make certain of the applicant’s authenticity and save you from identity theft. Providing correct identity and address proof is essential for regulatory compliance and purchaser verification.
• PAN Card/Form 60: A PAN card is mandatory for tax identification and economic transactions. In instances where the applicant does not now have a PAN card, Form 60 can be submitted as an alternative. This documentation allows the financial institution to track the applicant’s credit history and financial sports. Ensuring that a PAN card or Form 60 is furnished allows for preserving tax compliance and aids in correct economic reporting.
• Copy of Existing Credit Card: If the applicant already holds a credit card, a copy of the front of this card needs to be submitted. This allows the bank to review the applicant’s present-day credit relationships and price history. It presents additional perception into the applicant’s credit score management practices. Having this data can expedite the approval method by way of demonstrating responsible credit utilisation.
• Salary Slips and Bank Statements: Salaried candidates ought to put up their latest salary slips together with a copy of their financial institution statements for the past 3 months. Salary slips verify the applicant’s earnings stage and employment repute, whilst financial institution statements provide a complete view of their monetary transactions and balance. This documentation allows the bank to investigate the applicant’s capacity to repay the credit score card dues. Submitting these files is important for proving financial reliability and making sure the applicant meets the profit necessities.

Application Process for HSBC Cashback Credit Card

Online Application

• Visit Card Insider Website: Go to the Card Insider net website online, where HSBC credit score playing cards are indexed.
• Click “Apply Now”: Find the HSBC credit card you’re interested in and click on the “Apply Now” button acting on your display screen.
• Complete the Online Form: Fill out the specified details within the online form.
• Submit the Form: After filling out all of the vital facts, put up the form for processing.

Phone Banking Application

• Call HSBC Phone Banking: Dial the HSBC telephone banking variety provided at the HSBC or Card Insider internet site.
• Provide Necessary Details: Speak to a customer support representative and offer the required non-public and financial records.
• Follow Instructions: Follow the instructions given by the consultant to finish your software program.
• Await Confirmation: Wait for an affirmation name or message from HSBC regarding the recognition of your software program.

In-Branch Application

• Gather Required Documents: Collect all critical documents, together with identity/address proof (Aadhaar card, Voter card, and lots of others), PAN card/Form 60, a copy of your current credit rating card (if any), revenue slips, and financial institution statements.
• Visit the Nearest HSBC Branch: Go to your nearest HSBC department with the amassed files.
• Meet with a Representative: Speak to a monetary institution representative and specify your requirements in applying for an HSBC credit score scorecard.
• Submit Application: Fill out the utility shape provided with the useful resource of the representative and publish it together with your documents for processing.

FAQs