Thomas Sutherland founded the worldwide bank known as the Hongkong and Shanghai Banking Corporation (HSBC Bank) in Hongkong in 1865. It took over the Mercantile Bank of India in Mumbai in 1959. It is the second-oldest foreign bank in the nation and was responsible for installing India’s first ATM in 1987. The HSBC Bank is headquartered in London and is traded on the London, New York, Hong Kong, and Bermuda stock exchanges, among others. More than 1.90 lakh stockholders own shares of HSBC. It was initially established to meet the requirements of Chinese coast merchants and provide funding for the expanding trade between China, Europe, and the US.
The HSBC Cashback Credit Card is the greatest card for millennials who can’t stop shopping because it gives customers unlimited cashback on common expenditure categories. This card is the greatest addition to your wallet thanks to a variety of exceptional introductory offers and recurring discounts across numerous brands.
Even if the HSBC Cashback Credit Card comes with a host of beneficial features, you should compare it to other credit cards on the market to see whether it delivers the best value back on your favorite purchases.
With time, it expanded its network to 130 nations and began offering a range of goods and services, including credit cards, to its corporate, retail, and commercial banking clients.
Customers can choose from five credit cards that HSBC offers, all of which are designed to meet their daily purchasing needs. With HSBC credit cards, a wide range of advantages is available, including reward points for every transaction made for groceries or gas. In addition to this, not many credit cards give cashback on purchases. The banks’ credit cards also come with a variety of coupons from sites like ClearTrip and BookMyShow.
Key Features
Quick E.M.I.
With your HSBC credit card, you may purchase a variety of goods and services, including electronics, travel, and more, and pay for them over time using EMIs (Equated Monthly Instalments).
Pay with E.M.I.
Do you require credit card cash? Your HSBC Credit Card’s Cash-on-EMI function offers you a practical method to borrow money and pay it back in affordable installments.
Balance Transfer
Balance Transfer With our balance transfer option, you can move an unpaid debt from another bank’s credit card to your HSBC credit card and pay it off in convenient monthly installments at a lower interest rate.
Phone Loan
Take a dream vacation, a new TV, or a computer. Through the innovative new “Loan on Phone” option on your HSBC credit card, HSBC makes all of this incredibly simple. Spend as much as you like while making low-interest payments.
Equilibrium Conversion
You’ve already enjoyed the benefits and convenience of using an HSBC credit card. By offering the Balance Conversion function on your credit card, we are going one step further. You can now treat yourself today and pay tomorrow!
Surcharge for Fuel
We are aware that various people have varied perspectives on our credit cards. You could be able to take extended drives because there is no fuel cost at any Indian gas station.
Safe Online Payments
Your HSBC Credit Card offers an additional layer of security for online purchases.
Banking online
HSBC Credit Card Management via Online Banking
Pros
- 20 months of 0% interest on balance transfers with a 2% transfer fee. the cash advance rate is restored.
- No foreign transaction costs
- Purchases are interest-free for up to 55 days.
- Domestic travel insurance is provided for free
- Acceptable with Google Pay and Apple Pay
Cons
- Balance transfers are subject to a one-time 2% charge.
- $30.00 in late fees
- $99 for each year
Benefits
- 10% return in cash up to INR 1,000
- Attractive installment plans at 10.99% p.a. are available for EMI products booked during the first 90 days of card issuance and apply to balance transfers and loans taken out over the phone. Dynamic Finance Charge interest rates start at 3.49% p.m. and decrease to 1.99% p.m. depending on credit history and repayment behavior.
- 3X incentives in the categories of online, food, and telecom
- Annual fuel fee savings of up to INR 3,000
- If the total yearly spending is at least 100,000, the annual fee is removed beginning with the second year.
- At more than 1,000 restaurants in big cities, you can get a discount of up to 15%.
- Spending Rs. 1,000 or more will receive a 5% discount (maximum discount of Rs. 250 per card per month, no transaction limits).
- Using the VISA Paywave technology, contactless payments are possible.
- 15% off the cost of using the airport concierge service
- Collision coverage for a rental automobile (in addition to your policy)
- a cashless transaction
- Mastercard’s anti-ID theft program
- Global Mastercard Service
What we have to say
You may apply for the HSBC Low Rate Credit Card if you are 18 years of age or older, have good credit, and make at least $40,000 annually. You could take advantage of a lengthy 0% p.a. balance transfer offer, a low ongoing purchase rate, and a reasonable annual fee by applying. Additionally, you also receive some lovely extras.
Additionally, the card’s free domestic travel insurance and support for mobile payment systems like Apple Pay and Google Pay give you extra security when traveling within Australia. No foreign transaction fees are a more recent feature that has been added to this card.
Overall Rating
This low-rate credit card offers a great opportunity to reduce credit card debt while enjoying a low annual fee and perks like Instant Savings, interest-free financing, and free domestic travel insurance. It also gives 0% p.a. on balance transfers for 20 months.
Conclusion
The HSBC Cashback Credit Card offers 1% cash back on all other transactions and an unlimited 1.5% cashback on online purchases. Therefore, the more you spend, the more cashback you can receive. For people who enjoy shopping online but do not want to be restricted to a specific website, this works well. Since the card offers incentives for “online” purchases, it virtually always includes these well-known categories, as long as you make your payment online. Although rival cards like the Axis Ace and Flipkart Axis provide better rates at a cheaper annual fee, the 1% flat cashback on offline purchases is still an excellent deal.
The HSBC Gold Credit Card is a respectable option if you’re looking for a card that forgoes rewards instead of debt-management tools. For individuals interested in making purchases or transferring a high-interest balance, a substantial introductory term of 0% APR makes it a competitive alternative and forgiving late-payment provisions lower the cost of forgetting to pay a bill on time.