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The HSBC Visa Platinum Credit Card is a zero-fee credit card designed for individuals who want straightforward rewards, occasional discounts, and travel conveniences—without worrying about annual charges. As a lifetime free card, it’s a smart choice for first-time credit card users and budget-conscious shoppers.
1. Zero Annual Fees for Life
One of the card’s standout features is that there are no joining, annual, or renewal fees, making it completely free to keep forever. This makes it ideal for users who want to build a credit history or have a backup card without ongoing costs.
2. Reward Points System
Standard Earnings
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Earn 2 reward points for every ₹150 spent on eligible purchases.
Bonus Rewards on Higher Spend
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After spending ₹400,000 within a card membership year, all further spending earns 10 points per ₹150 (i.e., a 5x boost), capped at 15,000 bonus points annually.
Redeeming Points
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Points are valid for up to 3 years.
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Use them to redeem shopping vouchers, merchandise, or even air miles.
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Conversion rate: 2 reward points = 1 air mile with partners like British Airways, Etihad, InterMiles, etc.
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You can also transfer points to hotel loyalty programs directly via the HSBC rewards platform.
3. Welcome Gifts & Intro Offers
New cardholders are often greeted with promotions like:
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Amazon gift vouchers upon completing the first few transactions or spending milestones.
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Cashback up to ₹2,000 when specific spend thresholds are met within the first 60 days.
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Buy-1-Get-1 movie tickets on Saturdays via BookMyShow.
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Short-term cashback campaigns on dining, groceries, and online purchases (like 10% off for limited periods).
These welcome deals change over time, so always review the latest offer on HSBC's official site before applying.
4. Lifestyle and Daily Benefits
Dining
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Exclusive access to the Simply Indulge dining program, offering up to 15% off at partnered restaurants across India.
Movie Tickets
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Get one free movie ticket on Saturdays when you book through BookMyShow (capped at ₹250).
Fuel
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Enjoy a fuel surcharge waiver for transactions between ₹400 and ₹4,000, up to ₹3,000 annually.
5. Travel and Protection Perks
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Global card replacement within 3 days in case of loss while traveling.
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Zero liability coverage if your card is lost or stolen and reported promptly (up to ₹3 lakh).
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Redeem reward points for air miles, making it useful for light travelers.
6. EMI and Balance Transfer Facilities
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Convert large purchases into EMIs through the HSBC app with flexible tenures.
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Transfer balances from other cards at lower interest rates—helpful for consolidating debts.
7. Fees & Charges Summary
Although the card is free to hold, standard charges apply for some services:
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Finance charges: Around 3.3% per month (≈ 40% annualized).
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Cash withdrawal fee: ~2.5% (minimum ₹500).
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Late fee: ₹250–₹1,200 depending on outstanding balance.
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Foreign currency mark-up: 3.5% + GST.
Paying your balance in full and avoiding cash withdrawals can help you avoid these charges entirely.
8. Who Can Apply?
Eligibility Criteria:
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Age: Between 18 and 65 years
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Income: Minimum annual income of ₹4 lakhs
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Residency: Indian resident living in cities like Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, etc.
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Credit Score: Ideally 760+
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Documents: PAN card, address proof, income proof, and bank statements
Application Process:
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Apply online through HSBC’s official website or in a branch.
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Video KYC is supported for faster onboarding.
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Approvals usually take 5 to 14 business days.
Avoid applying through unauthorized agents to prevent miscommunication or scams.
9. User Feedback – What People Like and Dislike
Pros:
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Truly lifetime-free with decent starter rewards.
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Attractive dining and grocery cashback during promo periods.
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Great for light users and occasional travelers.
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Reward points can be turned into air miles, which is rare in no-fee cards.
Cons:
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Customer service and app performance need improvement, as noted by some users.
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No airport lounge access or luxury travel perks.
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Misleading offers by some third-party sales reps have been reported.
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Heavy spending or unusual activity could trigger account reviews.
10. Comparisons with Similar Cards
| Feature | HSBC Platinum | Amazon ICICI | SBI SimplyClick | Axis MyZone |
|---|---|---|---|---|
| Annual Fee | ₹0 | ₹0 | ₹499 (waived) | ₹500 |
| Basic Rewards | 2 pts/₹150 | 5% Amazon, 1% others | 1-5% on online spend | 1–2% |
| Lounge Access | No | No | No | Yes (limited) |
| Dining Offers | Yes | Some | No | Yes |
| Air Miles Conversion | Yes | No | No | No |
| Ideal For | Beginners | Amazon shoppers | Online shoppers | Lifestyle seekers |
11. Who Should Consider This Card?
Ideal For:
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First-time cardholders or people building credit
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Shoppers looking for a fee-free way to earn rewards
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People who dine out regularly or travel occasionally
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Cardholders who want to convert points to air miles
Not Suited For:
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Frequent flyers looking for lounge access
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High-spenders needing premium benefits or high limits
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Users who expect quick, responsive customer support
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People who want high cashback without hitting spend milestones
12. Usage Strategy Tips
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Spend ₹400,000/year to unlock 5x reward acceleration.
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Time purchases to hit welcome offer spend thresholds quickly.
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Use for fuel and groceries to benefit from waivers and cashback.
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Pay your bills before the due date to avoid high interest.
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Keep the card active with occasional use if you plan to hold it long-term.
13. Quick FAQs
Q: Is the HSBC Platinum Card really free for life?
Yes. There’s no joining, annual, or renewal fee—ever.
Q: Can I get lounge access with this card?
No, this card doesn’t include airport lounge access.
Q: Are the reward points convertible to miles?
Yes. You can redeem points for air miles with select airlines.
Q: How long do reward points last?
They’re valid for 3 years from the date of accrual.
14. Final Thoughts
The HSBC Visa Platinum Credit Card is a low-maintenance, no-cost option ideal for everyday use. While it doesn’t offer luxury perks or high-end travel features, its core benefits—no fees, reward points, and practical merchant offers—make it one of the better beginner cards in India.
If you want a simple, effective card without worrying about annual fees, this one is worth considering.
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