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.​

 

[pmhunter]

Checked my Cashback today. I've received 10% for Zomato, Swiggy, Swiggy Instamart, Eazydiner, Local restaurant and grocery. Got CB approx 1 month after bill date.

 

[nithin1992]

Checked my Cashback today. I've received 10% for Zomato, Swiggy, Swiggy Instamart, Eazydiner, Local restaurant and grocery. Got CB approx 1 month after bill date.

Thanks for letting us know. Do they provide a detailed breakup on which transaction receives how much CB, or should we try and figure it out ourselves?

 

[pmhunter]

Thanks for letting us know. Do they provide a detailed breakup on which transaction receives how much CB, or should we try and figure it out ourselves?

We need to figure it out ourselves. I tried asking Customer Support chat, but they don't have the breakdown and just post the below text which is already there on the website.

There is no cashback for insurance, mentioned below are the exclusions where cashback wont be allotted:

10% cashback on all dining, food delivery and grocery transactions (capped upto `1,000 per billing cycle)

• 1.5% unlimited cashback on other spends
• No cashback on following categories:
-Fuel related (MCC 5541, 5983, 5172, 5542, 5552),
-e-wallets (MCC 6540),
-Payment of property management fees, rental commissions, rental payments or any such payments made through MCCs 6513, 7012, 7349.
-Business to Business txns made through MCCs 7399, 7311, 7372, 5045, 5047, 5065, 5072, 5111, 5013, 2741, 5137, 5192, 5193, 5131, 7361, 5085, 7333, 5039, 7379, 5021, 5199, 5122, 5099, 5198, 5139, 7829, 7395, 5051, 5046, 5169, 7375, 5074, 8734, 5044, 2842, 2791,
-Education and government related txns carried out through MCCs 9399, 8299, 8220, 8211, 8241, 9311, 8244, 8249, 9222, 9402, 9211, 9405, 9950, 9223, 8351)
-Insurance (MCC 6300, 5960)
-Jewelry & Antique items (MCC 5944, 5094, 5932, 5937)
-Gambling (MCC 7995)
-Tolls and Bridge Fees (MCC 4784)
-Financial and Non-Financial Institutions (MCC 6011, 6010, 6012, 6051)
-Security Broker Services (MCC 6211)
-Collection Agencies (MCC 7322)
-Charity (MCC 8398, 8641)
-Money Transfers (MCC 4829) and Wholesale Clubs (MCC5300)

 

[helloworld]

Thanks for letting us know. Do they provide a detailed breakup on which transaction receives how much CB, or should we try and figure it out ourselves?

Called and got mcc for each transaction. We have to calculate whether that mcc eligible for 10% or 1%, but we can get detailed transaction wise mcc, which I got with call. Ask for mcc instead of CB % where not all executives aware about their bank products.

 

[nithin1992]

Just checked my cashback and I've received it for all the transactions I've made, offline grocery stores such as Star Bazaar, MK, restaurants, Zomato, swiggy etc., so I'm pretty pleased.

I've even made a couple of transactions at restaurants abroad, should see if I get CB for those next month. 😅

 

[vine]

Does this card give 10% cashback on any grocery store / restaurant?

 

[nithin1992]

Does this card give 10% cashback on any grocery store / restaurant?

Yes, as long as the correct MCC code is reported by the store.

 

[vine]

Yes, as long as the correct MCC code is reported by the storer

Yes, as long as the correct MCC code is reported by the store.

Then, for big names like BB, blinkit, Swiggy/Zomato ,etc.. this card is better for groceries and restaurants or equal to the usual suspects like Tata Neu, Millenia, Airtel Axis cards.

Only thing to consider is 1180 p.a fees with no FYF.

 

[pmhunter]

Then, for big names like BB, blinkit, Swiggy/Zomato ,etc.. this card is better for groceries and restaurants or equal to the usual suspects like Tata Neu, Millenia, Airtel Axis cards.

Only thing to consider is 1180 p.a fees with no FYF.

Got it FYF in Sep. But you still get 1250 vouchers (1000 Amazon voucher on 10k spends first month, 250 for Video KYC) until EOY which can offset FY fee.

 

[vine]

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

Does it mean no ₹999 joining charges for savings account holders or other hsbc CC holders??
Can anyone confirm if insurance payments counts for 2L milestone (I know we don't get cashback).

 

[helloworld]

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

Does it mean no ₹999 joining charges for savings account holders or other hsbc CC holders??

Not sure but thats the case usually with SC, so I believe all foreign banks follow same process. I thought existing customer = existing cashback CC holder, never thought beyond that. so you have to check with support if you already have relationship to know more.

Can anyone confirm if insurance payments counts for 2L milestone (I know we don't get cashback).

It covers everything no exclusions, but FYI its 0.58% return, so consider other options. It is not for milestone based spends, personally never take paid credit card to cover the fees with spends without any benefits. LTF cards would do fine in those cases.

Atleast 1% card with LTF can give me 1% return, but in this case its 0.58% that too to pay annual fee, so effectively 0. If you have more spends, then check HSBC platinum, good one if you cross 4L and redeem for miles and wants in HSBC only.

You may have your reasoning but this is my suggestion.

 

[vine]

Not sure but thats the case usually with SC, so I believe all foreign banks follow same process. I thought existing customer = existing cashback CC holder, never thought beyond that. so you have to check with support if you already have relationship to know more.



It covers everything no exclusions, but FYI its 0.58% return, so consider other options. It is not for milestone based spends, personally never take paid credit card to cover the fees with spends without any benefits. LTF cards would do fine in those cases.

Atleast 1% card with LTF can give me 1% return, but in this case its 0.58% that too to pay annual fee, so effectively 0. If you have more spends, then check HSBC platinum, good one if you cross 4L and redeem for miles and wants in HSBC only.

You may have your reasoning but this is my suggestion.

Thank you for the suggestions.
I was just exploring how things roll with HSBC.
Am waiting to receive the LTF HSBC visa platinum CC.

 

[OptiCard]

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

Does it mean no ₹999 joining charges for savings account holders or other hsbc CC holders??
Can anyone confirm if insurance payments counts for 2L milestone (I know we don't get cashback).

Generally milestone counts insurance & utilities bill as well. If not they bank used to mention clearly.
As of now there is no such condition 🙂

 

[mechanism_chronically]

Does this card give 10% cashback on any grocery store / restaurant?

Yes, depends on mcc merchant is registered, if registered correct we get 10%, I got to 10% in almost all txn, like swiggy, zomato, blinkit, and restaurant.

 

[mechanism_chronically]

Generally milestone counts insurance & utilities bill as well. If not they bank used to mention clearly.
As of now there is no such condition 🙂

Its not worth to pay insurance through this card now, many better alternatives out there.

 

[creditcardnoob]

Just checked my cashback and I've received it for all the transactions I've made, offline grocery stores such as Star Bazaar, MK, restaurants, Zomato, swiggy etc., so I'm pretty pleased.

I've even made a couple of transactions at restaurants abroad, should see if I get CB for those next month. 😅

May I know the location of StarBazaar where you got the cashback because I do shop there every week and want to know if the location is Hyderabad.
Can you also confirm for Dmart, Reliance Smart Point as well.
And I want to know whether the 10% cashback is applicable when you shop for groceries online such as Amazon Fresh, Flipkart Grocery, Jio Mart, Blinkit, Swiggy Instamart and Zepto ?

 

[creditcardnoob]

Yes, depends on mcc merchant is registered, if registered correct we get 10%, I got to 10% in almost all txn, like swiggy, zomato, blinkit, and restaurant.

Do you get cashback when you shop for groceries online in Amazon Fresh, Flipkart Grocery, Jio Mart, Blinkit, Swiggy Instamart and Zepto ?

 

[nithin1992]

May I know the location of StarBazaar where you got the cashback because I do shop there every week and want to know if the location is Hyderabad.
Can you also confirm for Dmart, Reliance Smart Point as well.
And I want to know whether the 10% cashback is applicable when you shop for groceries online such as Amazon Fresh, Flipkart Grocery, Jio Mart, Blinkit, Swiggy Instamart and Zepto ?

Location is Bangalore, and no, I haven't tried shopping at Dmart and others as they are not nearby for me.

I've tried Blinkit, Swiggy it works. I've not tried the others though. It depends on MCC, so if you shop in those places, get the MCC of such transactions from your card provider and we can tell if HSBC CB provides CB or not.

 

[creditcardnoob]

Location is Bangalore, and no, I haven't tried shopping at Dmart and others as they are not nearby for me.

I've tried Blinkit, Swiggy it works. I've not tried the others though. It depends on MCC, so if you shop in those places, get the MCC of such transactions from your card provider and we can tell if HSBC CB provides CB or not.

So you got cashback in swiggy for ordering food or for groceries?

 

[mechanism_chronically]

May I know the location of StarBazaar where you got the cashback because I do shop there every week and want to know if the location is Hyderabad.
Can you also confirm for Dmart, Reliance Smart Point as well.
And I want to know whether the 10% cashback is applicable when you shop for groceries online such as Amazon Fresh, Flipkart Grocery, Jio Mart, Blinkit, Swiggy Instamart and Zepto ?

StarBazaar didnt checked it.
I use mostly blinkit, swiggy and zepto

Have to try others, it's kind of hard to get which txn got x% of cashback, in statement.
You try an txn and leave it for billing cycle and check it.