One More Devaluation: This time HSBC Cashback Card

[shutapdiya]

Here are some of the key highlights of our revised HSBC Cashback Credit Card offering:​

​

•​ Earn More Cashback: Enjoy a 10% cashback (up to ₹1,000) on categories such as dining, grocery, and food delivery. Also, earn unlimited 1.5% cashback on all other spends. Cashback not eligible on select categories such as Fuel, Rental, Govt. Transactions, E-wallets, Insurance, Education, B2B Goods and Services, Jewelry, Charity, Toll fees, Cash Advances, Payment of outstanding balances, payment of card fees and other card charges​ ​ ​ •​ Elevated Airport Lounge Experience: 4 complimentary airport lounge access, one per quarter​ ​ ​ •​ Joining and Renewal Fee: There will be a joining fee of only ₹999 (not applicable to existing customers). There will also be a renewal fee of ₹999, which will be waived upon reaching a spend milestone of ₹200,000 in a year​

​

Please note that these changes will come into effect for your existing credit card from 26-Aug-2023.​

 

[Sai Ganesh]

My understanding is If your card anniversary date is before 26th August and you have spent 1 lac in that anniversary year then then your annual charges will be waived off.

But if its after 26th August then you may need to meet 2 lac in that anniversary year for waive off.

Get it clarified with customer care team

Yes right bro.

 

[mr_vasanth]

Here are some of the key highlights of our revised HSBC Cashback Credit Card offering:​

​

​ •​ Earn More Cashback: Enjoy a 10% cashback (up to ₹1,000) on categories such as dining, grocery, and food delivery. Also, earn unlimited 1.5% cashback on all other spends. Cashback not eligible on select categories such as Fuel, Rental, Govt. Transactions, E-wallets, Insurance, Education, B2B Goods and Services, Jewelry, Charity, Toll fees, Cash Advances, Payment of outstanding balances, payment of card fees and other card charges​ ​ ​ •​ Elevated Airport Lounge Experience: 4 complimentary airport lounge access, one per quarter​ ​ ​ •​ Joining and Renewal Fee: There will be a joining fee of only ₹999 (not applicable to existing customers). There will also be a renewal fee of ₹999, which will be waived upon reaching a spend milestone of ₹200,000 in a year​

​

Please note that these changes will come into effect for your existing credit card from 26-Aug-2023.​

Source of this devaluation ?

 

[Deleted member 11974]

Source of this devaluation ?

Trust me bro

 

[shutapdiya]

Source of this devaluation ?

Email from HSBC

 

[mechanism_chronically]

There is not update on website about this implementation, yet i also got the mail

 

[austin360]

Source of this devaluation ?

Effective September 1

 

[mechanism_chronically]

It's live now, website also updated, but cleverly hidden terms which vendors are not part of cashback

Effective September is

 

[nithin1992]

It's live now, website also updated, but cleverly hidden terms which vendors are not part of cashback

Where is the exclusion list published, couldn't find it as some of the PDFs linked are still not updated

 

[_thekingpin]

Where is the exclusion list published, couldn't find it as some of the PDFs linked are still not updated

I have confirmed from customer care that it is not restricted to any merchant. I have applied for upgradation of my HSBC platinum after screenshoting the message.

 

[mechanism_chronically]

I have confirmed from customer care that it is not restricted to any merchant. I have applied for upgradation of my HSBC platinum after screenshoting the message.

Its very highly unlikely , there are no restrictions

 

[jack333]

My understanding is If your card anniversary date is before 26th August and you have spent 1 lac in that anniversary year then then your annual charges will be waived off.

But if its after 26th August then you may need to meet 2 lac in that anniversary year for waive off.

Get it clarified with customer care team

Do you have the mcc list for 10% cashback categories?

 

[_thekingpin]

Its very highly unlikely , there are no restrictions

I have confirmed with like 3 different executives on HSBC chat app before applying. All consistently said the same thing. It's not THAT unbelievable. In the past also there was a Kotak Essentia card which gave 10% on groceries. And there is a cap of 1K anyway

 

[mechanism_chronically]

I have confirmed with like 3 different executives on HSBC chat app before applying. All consistently said the same thing. It's not THAT unbelievable. In the past also there was a Kotak Essentia card which gave 10% on groceries. And there is a cap of 1K anyway

Hmm, I would say its not an devaluation, since online and offline purchases are increased to 1% to 1.5% - which is best for insurance, nps as many doesn't support.

 

[mechanism_chronically]

I have confirmed with like 3 different executives on HSBC chat app before applying. All consistently said the same thing. It's not THAT unbelievable. In the past also there was a Kotak Essentia card which gave 10% on groceries. And there is a cap of 1K anyway

Hi

Could you please check this link https://www.hsbc.co.in/content/dam/hsbc/in/documents/credit-cards/visa-cashback/services-guide.pdf

Section cashback illustration

 

[mechanism_chronically]

Where is the exclusion list published, couldn't find it as some of the PDFs linked are still not updated

Check this link https://www.hsbc.co.in/content/dam/hsbc/in/documents/credit-cards/visa-cashback/services-guide.pdf

 

[shutapdiya]

Do you have the mcc list for 10% cashback categories?

Nope Bro

 

[_thekingpin]

Hi

Could you please check this link https://www.hsbc.co.in/content/dam/hsbc/in/documents/credit-cards/visa-cashback/services-guide.pdf

Section cashback illustration

See.. they haven't mentioned any specific merchant for dining

 

[_thekingpin]

Hmm, I would say its not an devaluation, since online and offline purchases are increased to 1% to 1.5% - which is best for insurance, nps as many doesn't support.

Government transactions are excluded

 

[nithin1992]

Hmm, I would say its not an devaluation, since online and offline purchases are increased to 1% to 1.5% - which is best for insurance, nps as many doesn't support.

There are plenty of restrictions listed for the 1.5% CB, link.

However, as of now, I don't think they've listed any restrictions for dining and grocery, I.e., 10% CB upto Rs.1000/-, so for this benefit the card is good.

 

[nirmalya]

It is an useful card for those who are into:

1. Offline groceries - Better than SC Manhattan card which provides 5% cb.
2. Dining out where Dineout/EazyDiner/Zomato Pay is not accepted - Better than AU Zenith card (after devaluation dining spend gives 4%)
3. Do not have HDFC Swiggy/Airtel card for 10% food delivery offer.

I don't think most of the people will use it for 1.5% category. There are similar or better cards for that with less annual fees.

I personally think these offers are better compared to the benefits it had previously even though annual fees has been increased. If one can spend approx. 12k annually on those 3 categories, they will be able to recover annual fees.