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.​

 

[nithin1992]

What are the MCC codes eligible for 10% cashback ?

HSBC Cashback Changes w.e.f 01-Sep-23

Related posts: https://www.technofino.in/community/threads/one-more-devaluation-this-time-hsbc-cashback-card.15623/ Summary: Benefit/Feature Earlier Values New Changes Annual Fee 750+18% GST 999+18% GST Fee Waiver 1L 2L Online Spends 1.5% 1.5% Offline Spends 1% 1.5% Grocery MCC...

www.technofino.in

It's already posted in the above post

 

[Bhanu Agarwal]

Lets wait. Will update when I get it!

Buddy after too many discussions & mails --> they finally rejected the card (no official mail from them but confirmed me over chat support).
She offered me card flip --> she conveyed me that it will 110% approve.

But now question is --> is it worth to flip from LTF card to cashback card ??
Note- I won't get any welcome offer in case of flip.

 

[Rdspam]

Buddy after too many discussions & mails --> they finally rejected the card (no official mail from them but confirmed me over chat support).
She offered me card flip --> she conveyed me that it will 110% approve.

But now question is --> is it worth to flip from LTF card to cashback card ??
Note- I won't get any welcome offer in case of flip.

You will miss out on a 1000 rs amazon voucher. That’s about it. It’s definitely worth it if you spend a lot on food and groceries.

 

[Bhanu Agarwal]

Lets wait. Will update when I get it!

Buddy any revert or update from HSBC ?

 

[diablorojo8]

Buddy any revert or update from HSBC ?

No revert.
Logged in my hsbc app and I can see my card.
No approval SMS sent but since I can see a second card that means it got approved.

 

[Bhanu Agarwal]

No revert.
Logged in my hsbc app and I can see my card.
No approval SMS sent but since I can see a second card that means it got approved.

I did complaint over RBI ombudsman on Friday night, got call from HSBC Mumbai on next day around 10:30 AM (i guess India head office) telling the reason for not approving, there was an mistake did by 3rd party team in residential address tenure (she mentioned residing from last 6 months only and they need minimum 3 years).

After correction, same day evening able to see my 2nd card (even cibil enquiry got hit just after call, I guess around 11:00 AM morning. No enquiry was happened previously).
As it was Sunday, there was no dispatch. Card was dispatched yesterday afternoon & got it today.

So RBI complaint works

 

[pmhunter]

Good replacement for Zomato edition card since it's direct cashback.
For those whose monthly spends are low/avg, HSBC Cashback + Axis Airtel covers a lot of areas and both are FYF with joining vouchers to almost cover second year as well.

 

[vine]

I ordered for HSBC smart value card and I received cashback card.
Not much useful for me. So I didn't activate it yet.
Airtel card seems more useful to me. But no offer in the Airtel Thanks app.
..
Looks like they discontinued the Smart Value credit card few weeks ago. I wasn't informed this.

 

[rk23]

Hi everyone. I have applied for LTF HSBC Visa platinum credit card. But the bank has approved and send me HSBC Cashback credit card. I don't know how that's possible but they did such mistake. So I want to know is it a good option to keep the revamp Cashback card after so much devaluation and paying annual fees of 999+gst. Please guide and suggest guys??

 

[vine]

Hi everyone. I have applied for LTF HSBC Visa platinum credit card. But the bank has approved and send me HSBC Cashback credit card. I don't know how that's possible but they did such mistake. So I want to know is it a good option to keep the revamp Cashback card after so much devaluation and paying annual fees of 999+gst. Please guide and suggest guys??

Call the customer care and ask them to send the other one. They will send it.

 

[rk23]

Call the customer care and ask them to send the other one. They will send it.

But in that case welcome benefits will not be there. They will just flip the card. I want to know if the revamp Cashback card is worth 999 + gst keeping in mind I won't be able to cross 2 lacs in any year. Will they provide any retention offer?

 

[vine]

But in that case welcome benefits will not be there. They will just flip the card. I want to know if the revamp Cashback card is worth 999 + gst keeping in mind I won't be able to cross 2 lacs in any year. Will they provide any retention offer?

I personally don't find it useful. Your mileage may vary.

 

[rk23]

I personally don't find it useful. Your mileage may vary.

Thanks for the input. Anyone else can provide your insight on it. It will help me a lot.

 

[rk23]

I know personal opinion varies but it still matters

 

[nithin1992]

Thanks for the input. Anyone else can provide your insight on it. It will help me a lot.

If you eat out frequently, especially at restaurants which don't offer eazydiner etc or shop in offline grocery stores, it's quite decent, no other card offers these benefits.

Only issue is with fee waiver, if it was at 120000 or lesser then would have been very good as accelerated 10% CB is capped at 1k per month.

 

[rk23]

If you eat out frequently, especially at restaurants which don't offer eazydiner etc or shop in offline grocery stores, it's quite decent, no other card offers these benefits.

Only issue is with fee waiver, if it was at 120000 or lesser then would have been very good as accelerated 10% CB is capped at 1k per month.

That's one of the main issue fee waiver criteria is too much and I don't think they even have retention offers or like that after one year. I actually wanted a hsbc card for sales and offers discount so applied for LTF Visa platinum but they send cashback card. Now quite in a dilemma to keep it or flip it for Visa platinum without welcome benefit

 

[helloworld]

That's one of the main issue fee waiver criteria is too much and I don't think they even have retention offers or like that after one year. I actually wanted a hsbc card for sales and offers discount so applied for LTF Visa platinum but they send cashback card. Now quite in a dilemma to keep it or flip it for Visa platinum without welcome benefit

HSBC Live+ (Previously Cashback) Benefits

Summary: Benefit/FeatureNew Changes Annual Fee999+18% GST (₹1180) Spends required to get fee waiver2L Online Spends1.5% Offline Spends1.5% Grocery MCC10% (with below two categories upto 1K per statement) Dining MCC10% Swiggy/Zomato or Food Delivery MCC10% BookmyshowBuy 1 Get 1...

www.technofino.in

Check and decide.. on Misc. spends including Grocery, Dining, Food Delivery, Online spends, Offline spends etc. one can get apprx. 5.5% cashback on 2L spends.

 

[nithin1992]

That's one of the main issue fee waiver criteria is too much and I don't think they even have retention offers or like that after one year. I actually wanted a hsbc card for sales and offers discount so applied for LTF Visa platinum but they send cashback card. Now quite in a dilemma to keep it or flip it for Visa platinum without welcome benefit

Yeah but fee recovery should be possible easily with some spends in accelerated rewards category.

And the accelerated rewards are mostly on essentials so they don't promote manufactured spends. HSBC's customer care and app is also quite good in my experience. At least for my needs, HSBC CB card is the best one in their portfolio and in general too it's a very good card to have. Of course if they had revised the fee waiver criteria would have been even better.

 

[rk23]

Okay. Thanks for the suggestion guys. It helps a lot.

 

[Bhanu Agarwal]

Anyone knows when HSBC credits the cashback ?

--- update ---

It mentioned in this table