The HSBC Cashback Credit Card, now rebranded as the HSBC Live+ Credit Card, is designed for individuals who frequently spend on dining, groceries, and online transactions. This card offers a generous cashback structure, making it ideal for those who want to maximize their savings on everyday purchases without the hassle of reward redemptions.
Overview
| Feature | Details |
|---|---|
| Card Type | Cashback Credit Card |
| Reward Rate | 10% cashback on dining, groceries, and food delivery; 1.5% cashback on all other spends |
| Reward Value | Cashback credited directly to the statement |
| Annual Fee | ₹999 + GST (waived on spending ₹2 lakh annually) |
| Unique Selling Points | High cashback rates, complimentary domestic lounge access |
| Rating | ★★★★☆ (4.2/5) |
Benefits of HSBC Cashback Credit Card
The HSBC Cashback Credit Card offers a range of benefits tailored for frequent shoppers and diners:
- High Cashback Rates: Earn 10% cashback on dining, groceries, and food delivery, capped at ₹1,000 per statement cycle. For all other spends, you get 1.5% unlimited cashback.
- Lounge Access: Enjoy 4 complimentary domestic airport lounge visits per year (one per quarter).
- Fuel Surcharge Waiver: This card does not offer a fuel surcharge waiver.
- Insurance Benefits: Cardholders receive insurance coverage up to ₹3,00,000 against unauthorized transactions within 24 hours prior to reporting a lost card.
Welcome Benefits for HSBC Cashback Credit Card
| Welcome Benefit | Details |
|---|---|
| Bonus Cashback | ₹1,000 cashback on spending ₹10,000 within the first 30 days of card issuance |
| Additional Benefits | N/A |
Rewards from HSBC Cashback Credit Card
| Spend Category | Reward Rate |
|---|---|
| Dining, Groceries, Food Delivery | 10% cashback |
| All Other Spends | 1.5% cashback |
| Reward Value | Cashback credited directly to the statement |
| Rewards Expire in | Cashback credited within 45 days of the statement date |
Milestone Benefits of HSBC Cashback Credit Card
This card does not offer specific milestone benefits, but the annual fee is waived if you spend ₹2 lakh or more in a year.
Redemption of HSBC Cashback Credit Card Points
This card operates on a straightforward cashback system. Cashback is automatically credited to your statement within 45 days of the statement date, so there is no need to manually redeem points.
Gift Vouchers Available
This card does not operate on a points-based system, so there are no gift vouchers available for redemption.
Airport Lounge Access with HSBC Cashback Credit Card
| Access Type | Details |
|---|---|
| Domestic Lounges | 4 complimentary visits per year |
| International Lounges | Not available |
Fees and Charges for HSBC Cashback Credit Card
| Fee Type | Charges |
|---|---|
| Joining Fee | ₹999 + GST |
| Annual Fee | ₹999 + GST (waived on spending ₹2 lakh annually) |
| Finance Charges | 3.75% per month (45% per annum) |
| Foreign Transaction Fee | 3.5% + GST |
| Cash Advance Fee | 2.5% of the amount withdrawn (min ₹500) |
| Late Payment Fee | ₹250 to ₹1,200 based on the outstanding balance |
| Reward Redemption Fee | None |
Forex Markup Fee for HSBC Cashback Credit Card
| Fee Type | Details |
|---|---|
| Forex Markup Fee | 3.5% + GST on all international transactions |
HSBC Cashback Credit Card Review
Editor’s Rating
Summary
The HSBC Cashback Credit Card is ideal for users who spend heavily on dining, groceries, and online transactions. With its high cashback rates and straightforward benefits, it’s an excellent choice for everyday use. However, it lacks travel-related perks like international lounge access and fuel surcharge waivers, making it less suitable for frequent travelers.
Pros and Cons of HSBC Cashback Credit Card
| Pros | Cons |
|---|---|
| High cashback on dining, groceries, and food delivery | No cashback on fuel, rent, and certain other categories |
| Complimentary domestic lounge access | High forex markup fee |
| Simple and automatic cashback redemption | No international lounge access |
Cards Similar to HSBC Cashback Credit Card
| Feature | HSBC Cashback Credit Card | Axis Bank ACE Credit Card | HDFC Millennia Credit Card |
|---|---|---|---|
| Annual Fee | ₹999 + GST | ₹499 + GST | ₹1,000 + GST |
| Cashback Rate | Up to 10% on select categories | Up to 5% on select categories | Up to 5% on partner merchants |
| Reward Value | Direct cashback | Direct cashback | 1 CashPoint = ₹1 |
| Special Benefits | High cashback on dining, groceries | High cashback on utility payments | Dining discounts, fuel waiver |
FAQ
What is the annual fee for the HSBC Cashback Credit Card?
The annual fee is ₹999 + GST, which is waived if you spend ₹2 lakh or more in the previous year.
How is cashback credited on this card?
Cashback is automatically credited to your statement within 45 days after the statement date.
Does the HSBC Cashback Credit Card offer lounge access?
Yes, it offers 4 complimentary domestic lounge visits per year (one per quarter).
What is the foreign transaction fee on the HSBC Cashback Credit Card?
The forex markup fee is 3.5% + GST on all international transactions.
Are there any categories where cashback is not applicable?
Yes, cashback is not earned on transactions related to fuel, e-wallets, rent, education, insurance, and certain other categories (HSBC India)
