4 from 411 Users
2 Reward Points on Every ₹150 Spent
on all eligible transactions
Redeem Reward Points for Air Miles
with leading airlines
Travel
Joining Fees
₹0 ( ₹0 + GST )
N/A
Annual Fees
₹0 ( ₹0 + GST )
N/A
Age Criteria
18-65 years
Salary Criteria
6 LPA
Credit Rating*
720+
See if you are eligible for this card
Rewards Conversion Rate
1 reward point = ₹0.50
Redemption Options
You can redeem your reward points:
To check redemption catalogue
All Benefits
You will not earn points / cashback on spends in the following categories
For Points / Cashback Earnings
Rent Payment
Insurance
Cash Withdrawls
School & Educational Services
GST Charges
Tolls
For Spends Waiver
Rent Payment
Insurance
Cash Withdrawls
School & Educational Services
GST Charges
Tolls
| Structure | Details |
|---|---|
Forex Markups   3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency. | 3.50% |
APR Fees 3.5% monthly fee. Credit cards allow you for a interest free payment period of 20-55 days. However, if you fail to make payment for your statement in due time then bank starts charging interest. A simple way to avoid heavy interest rates over long time is to convert your large spends in EMIs. Normally bank charges 16% p.a interest on EMIs however if you fail to pay in time then annual interest can reach upto 42% | 3.50% |
ATM Withdrawl 2.5% of the withdrawn amount is charged on cash advances using the credit card (minimum ₹500, if applicable). | 2.50% |
Reward Redemption Fees No fee is charged when redeeming reward points on this card. | Not Applicable |
Link for all T&Cs | Click Here |
Railway Surcharge Surcharge on booking or cancelling railway tickets will be levied as prescribed by IRCTC or Indian Railways and may vary based on their applicable charges. | As prescribed by IRCTC / Indian Railways |
Rent Payment Fees 1% of the transaction amount is charged as a fee on rent payment transactions, subject to applicable GST and platform charges | 1% |
Cheque Payment Fees A fee of ₹100 is charged for payments made through cheque | ₹100 |
Cash Payment Fees Rs 250 + taxes will be charged for all payments done via Cash | ₹250 |
| Late Payment Fees Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date. | Amount Due |
|---|---|
| ₹0 - ₹500 | ₹0 |
| ₹501 - ₹1000 | ₹400 |
| ₹1001 - ₹10000 | ₹ 750 |
| ₹10000 - ₹25000 | ₹ 950 |
| ₹25001- ₹ 50000 | ₹ 1100 |
| ₹50000 and above | ₹1300 |
Are you looking to enter the world of global banking without paying a single rupee in annual fees? The HSBC Platinum Rewards Credit Card is designed for those who want a straightforward, cost-effective way to earn rewards on every purchase.
This card offers a lifetime free experience, meaning you never have to worry about hitting spending milestones just to waive a fee. With a reward rate that converts directly into shopping vouchers or air miles, you can save roughly ₹3,634 annually through regular spending. It is a simple, no-nonsense tool for your daily expenses.
Built for professionals earning ₹50,000 or more per month, this card bridges the gap between basic entry-level cards and premium travel cards. Whether you are buying groceries or booking a flight, your spending contributes to your next vacation or a free shopping spree.
What sets it apart:
Quick check: To qualify, you will need to be between 18-65 years old with a minimum monthly income of ₹50,000 and a credit score of 720 or higher.
Let's break down why this card might be the right fit for your wallet:
The HSBC Platinum Rewards Credit Card focuses on providing value through a simple reward point system and a total lack of maintenance costs. Here is a detailed look at what you get:
One of the biggest hurdles with rewards cards is the annual fee. This card removes that barrier entirely. There is no joining fee and no annual fee, regardless of how much you spend. This makes it an excellent "backup" card or a primary card for those who hate tracking fee-waiver milestones.
When you first get the card, you can earn 2,000 reward points. To qualify, you simply need to activate the card through the HSBC Mobile App and spend a total of ₹5,000 within the first 30 days of receiving the card. Since 1 reward point equals ₹0.50, this is an immediate value of ₹1,000 back in your pocket.
For every ₹150 you spend on the card, you earn 2 reward points. This applies to most of your daily spends, from dining out to online shopping. However, please note that certain categories do not earn points. These exclusions include rent payments, insurance premiums, school and education fees, GST charges, tolls, and cash withdrawals.
The flexibility of rewards is where this card shines. You are not stuck with a specific brand's vouchers. You can choose to redeem your points for:
If you use your card for fuel, you can save on every visit to the petrol pump. You get a 1% fuel surcharge waiver on transactions ranging from ₹400 to ₹4,000. This helps offset the small extra costs that usually come with using credit cards at fuel stations.
To access these features, you must meet the bank's criteria. Salaried individuals generally need to be at least 21 years old (though the official minimum is 18) for a better chance of approval. You need a stable monthly income of at least ₹50,000 (₹6 Lakhs per annum). A healthy credit score (CRIF) of 720 or above is required to ensure a smooth application process.
The application process for the HSBC Platinum Rewards Credit Card is digital and straightforward. Follow these steps to get started:
Credit limits for the HSBC Platinum Rewards Credit Card are not fixed. They are assigned based on your specific income level, your current credit score, and any existing relationship you have with HSBC. If you have a high income and a score well above 720, you can expect a higher starting limit. Credit limits typically range from ₹75,000 to ₹5,00,000 based on your income profile and credit score.
How does this card stack up against other popular "no-fee" or "entry-level" cards in India? We have compared it with the heavy hitters in the market:
| Feature | HSBC Platinum Rewards | Amazon Pay ICICI Card | Axis Ace Credit Card | SBI Cashback Card |
|---|---|---|---|---|
| Annual Fee | ₹0 (Lifetime Free) | ₹0 (Lifetime Free) | ₹499 + GST | ₹999 + GST |
| Base Reward Rate | 0.67% (2 pts/₹150) | 1% (Non-Amazon spends) | 2% (Flat cashback) | 1% (Offline) |
| Max Reward Rate | 0.67% + Airmiles | 5% (Amazon Prime) | 5% (Utility/Bill pay) | 5% (Online spends) |
| Welcome Bonus | 2,000 Points (₹1,000 value) | Varies (Cashback) | None | None |
| Winner For | Airmile Seekers | Amazon Shoppers | Offline Spenders | Online Generalists |
If you are a frequent traveler who wants to accumulate air miles without paying an annual fee, the HSBC Platinum Rewards card is a unique choice. While the Amazon Pay ICICI card offers higher cashback for Amazon loyalists, it does not allow you to transfer points to airlines like British Airways or Singapore Airlines, which gives HSBC a distinct edge for travel enthusiasts.
You will need to submit the following documents when applying for this card. Ensuring you have these ready will help speed up the approval process:
Note: All documents must be self-attested. The bank may request additional documents during the verification process depending on your profile.
Should you get this card? Here is who benefits most from the HSBC Platinum Rewards Credit Card:
The Fee-Averse Professional: If you are someone who earns ₹50,000 a month and wants a credit card from a global bank but refuses to pay an annual fee, this is for you. You get the prestige of an HSBC card with zero maintenance cost.
The Aspiring Traveler: You might not spend enough to justify a high-fee travel card like the Amex Platinum, but you still want to earn miles. If you spend ₹20,000 monthly on this card, you could earn roughly 3,200 points a year, which can be converted into miles for your next flight on Air India or Singapore Airlines.
The First-Time Rewards User: If you find cashback cards boring and want to explore the world of "reward points" and "vouchers," this card is a safe, no-risk entry point. The ₹1,000 welcome bonus is a great way to see immediate value.
You might want to skip this card if:
In my experience, the HSBC Platinum Rewards Credit Card is a solid, conservative choice for the middle-income segment. It does not try to be everything to everyone; instead, it focuses on being a reliable, "free-for-life" companion.
The biggest strength of this card is the air mile conversion. Most lifetime free cards in India only offer basic cashback or shopping vouchers. Being able to transfer points to Singapore Airlines KrisFlyer or British Airways Executive Club on a zero-fee card is impressive. It allows you to participate in global travel loyalty programs without the high entry cost.
The biggest limitation, however, is the reward rate. At an effective 0.67% value back, it is significantly lower than the 2% to 5% offered by cards like Axis Ace or SBI Cashback. Furthermore, the lack of lounge access and movie benefits makes it less "lifestyle-oriented" than some of its peers.
Our verdict: Choose this card if you value the HSBC brand and want a simple way to earn air miles for free. If you want the highest possible return on every rupee spent, you might be better off with a dedicated cashback card.
Before applying, please be aware of these specific conditions associated with the HSBC Platinum Rewards Credit Card:
TOP USPs
2 Reward Points on Every ₹150 Spent
on all eligible transactions
Redeem Reward Points for Air Miles
with leading airlines
Apply Now