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.

 

[hellobois]

I think there would be no more devaluation for some time now. I used the 1.5% cashback on utility though but the main 10% categories should be there so the card still holds its worth.
This devaluation was expected as HSBC Visa Platinum also included Utility in its exclusions list.

Even with 10% category spends tou can get maximum 12000 per year. So not a very big loot 😞

 

[vine]

Even with 10% category spends tou can get maximum 12000 per year. So not a very big loot 😞

So per month limit is only ₹1000. I see in the first post.
That's around ₹10k expenses limit. More than enough for me.
Am planning to ask to switch Visa Platinum and Cashback card

 

[jeevanreddy58]

One doubt. I applied for this card on 11th June and completed the Video KYC the same day. Can anyone suggest how long HSBC usually takes for the Procedure?
Because when my wife applied for this cashback card around the last week of May, we never heard from HSBC till now. So I assumed they Rejected the application, Still today we have not received any emails on progress, the last email was a successful video kyc.
I am not sure if HSBC usually takes more time to process ??

I applied on 9th June... kyc done on 10th.. next day received msg that kyc successful...
15th received below msg(last).. didn't receive any approval msg by the way..
17th received msg that card is approved.
18th Card received. Hyderabad

Dear Customer, you will receive a message within 2 days on how to generate your HSBC Card Pin via SMS.

 

[vijay.vj]

They gave me 30000 only so -10/0 from my side. Worst experience from a private bank

They gave my bro 6.75L

 

[vijay.vj]

There is no clear rule regarding cashback period. One executive told me that it will be based on statement transactions, other told me that it will be based on monthly transactions. Today one executive told me that partial cashback has been credited and the remaining will be credited in next month. I have to calculate each and every transaction manually.
Totally rubbish 😔 👎

Its too much...
I sent my concern over email...

They are asking so much of useless info...

 

[ManInTheSuit]

I received some 166 CB for month of May which is credited in June 7th but expected amount is about 500+... anyone else receiving less cashback in HSBC cashback card?

Anyone know if OLA Foods provides 10% of 1.5%

OLA Foods MCC is 4121 as confirmed by Customer Care. So you would be getting 1.5%.

 

[ManInTheSuit]

One doubt. I applied for this card on 11th June and completed the Video KYC the same day. Can anyone suggest how long HSBC usually takes for the Procedure?
Because when my wife applied for this cashback card around the last week of May, we never heard from HSBC till now. So I assumed they Rejected the application, Still today we have not received any emails on progress, the last email was a successful video kyc.
I am not sure if HSBC usually takes more time to process ??

I'll tell you my application timeline since I applied pretty recently.
29th May: Submitted Application and did VKYC(The VKYC link for them remains valid for 1 Day only).
31st May: Got a call that my Company Name doesn't match with Salary Slip. (I had not added the Pvt Ltd). I had to send a mail declaration. He said it would be approved within 48 hours.
5th June: Called their customer care for the status. They said it's approved on 4th June but yet to dispatch.
6th June: Got the approval and card dispatch message.
7th June: Received card(Bangalore address). Signed in to HSBC app and saw was charged the joining fee.

 

[Prarthit]

Even with 10% category spends tou can get maximum 12000 per year. So not a very big loot 😞

Does hsbc waive off the annual fees after a year on requests ?
(like amex, sc, etc)

 

[jarunbalaji91]

I'll tell you my application timeline since I applied pretty recently.
29th May: Submitted Application and did VKYC(The VKYC link for them remains valid for 1 Day only).
31st May: Got a call that my Company Name doesn't match with Salary Slip. (I had not added the Pvt Ltd). I had to send a mail declaration. He said it would be approved within 48 hours.
5th June: Called their customer care for the status. They said it's approved on 4th June but yet to dispatch.
6th June: Got the approval and card dispatch message.
7th June: Received card(Bangalore address). Signed in to HSBC app and saw was charged the joining fee.

this "Got a call that my Company Name doesn't match with Salary Slip. (I had not added the Pvt Ltd). I had to send a mail declaration. He said it would be approved within 48 hours." is the Problem in my Wife's Cashback card application. however no one contacted us for it, I contacted my company Salary account POC but then he mentioned that the application is already in Rejected status with this reason..

 

[ritwik2000]

I'll tell you my application timeline since I applied pretty recently.
29th May: Submitted Application and did VKYC(The VKYC link for them remains valid for 1 Day only).
31st May: Got a call that my Company Name doesn't match with Salary Slip. (I had not added the Pvt Ltd). I had to send a mail declaration. He said it would be approved within 48 hours.
5th June: Called their customer care for the status. They said it's approved on 4th June but yet to dispatch.
6th June: Got the approval and card dispatch message.
7th June: Received card(Bangalore address). Signed in to HSBC app and saw was charged the joining fee.

Hi what do they ask in VKYC and what all documents needed at that time ?

 

[ManInTheSuit]

Hi what do they ask in VKYC and what all documents needed at that time ?

For me it was just pan required during VKYC(Aadhar was required during initial Application). I also had an option to upload the Epan, after I uploaded it, didn't even need to share the Physical PAN Card. As for the questions, they just confirm the address, phone number, email and other details that you have shared in your application.

 

[ritwik2000]

For me it was just pan required during VKYC(Aadhar was required during initial Application). I also had an option to upload the Epan, after I uploaded it, didn't even need to share the Physical PAN Card. As for the questions, they just confirm the address, phone number, email and other details that you have shared in your application.

Thanks a lot

 

[helloworld]

There is no clear rule regarding cashback period. One executive told me that it will be based on statement transactions, other told me that it will be based on monthly transactions. Today one executive told me that partial cashback has been credited and the remaining will be credited in next month. I have to calculate each and every transaction manually.
Totally rubbish 😔 👎

Its based on statement and thats how its working for me since 2+ years. Though, I never tested its limits but its working so far for me based on last month statement, will get the cashback this month.

Note: I usually purchase the obvious places, so never had any issues. But, its statement based.

 

[harshgupta940]

I wanted to know that after the devaluation news. Can I still do Utility txns till 15th July and earn 1.5% on it? Because I am new to the card and my cashback will start crediting from my 3rd statement and so far only one statement has come.

Also does anyone has experience of paying HSBC CC Bill Payment through HDFC Bill Pay? How many days does it take to reflect I paid the bill on Friday night and still not reflected.

 

[helloworld]

I wanted to know that after the devaluation news. Can I still do Utility txns till 15th July and earn 1.5% on it? Because I am new to the card and my cashback will start crediting from my 3rd statement and so far only one statement has come.

Also does anyone has experience of paying HSBC CC Bill Payment through HDFC Bill Pay? How many days does it take to reflect I paid the bill on Friday night and still not reflected.

YES.

4 to 5 working days but payment date should be either Friday or Saturday depends on when HDCF settled.

 

[harshgupta940]

YES.

4 to 5 working days but payment date should be either Friday or Saturday depends on when HDCF settled.

No problem due date is 22 June but 4-5 days is way too much as IDFC reflects the payment within few hours and Axis, ICICI takes 2-3 days max. I paid early because I was already doubtful about the time it would take.

 

[helloworld]

No problem due date is 22 June but 4-5 days is way too much as IDFC reflects the payment within few hours and Axis, ICICI takes 2-3 days max. I paid early because I was already doubtful about the time it would take.

thats how it happens with HCBS, SC, CIT and ICCI when used pltinum dc.

 

[hellobois]

Its based on statement and thats how its working for me since 2+ years. Though, I never tested its limits but its working so far for me based on last month statement, will get the cashback this month.

Note: I usually purchase the obvious places, so never had any issues. But, its statement based.

cc told me that its month bases. I have emailed them regarding the same. Lets wait for any clarification.

 

[harshgupta940]

cc told me that its month bases. I have emailed them regarding the same. Lets wait for any clarification.

In T&C its stated Statement/Billing Cycle.

 

[hellobois]

In T&C its stated Statement/Billing Cycle.

then I have got very less cb in May 2024