The HSBC Advance Visa Platinum Credit card is a wonderful offer especially for the customers who are having an HSBC Advance account. Customers who have a very good financial relationship with the HSBC Bank like a salary account, a quarterly balance of 3 lakh or a mortgage are considered to be qualified for HSBC Advance account.
HSBC Advance Visa Platinum Credit Card Benefits & Features
This credit card will come with state-of-the-art features and benefits. You will be able to receive reward points like never before with the offers which will allow you to get up to 5X the normal rewards. You will be able to enjoy this credit card without the payment of annual fees and under attractive interest rates on your outstanding balance amount. There are a bunch of options for EMI in store for making your repayments easier.
- Once you joined the HSBC Visa Platinum Credit card, you will be eligible to receive a cashback of 10% whenever you are spending a minimum amount of Rs.10,000/- in the first 3 months. You will be able to receive a maximum amount of Rs.3,000/- as a cashback.
- You will be able to receive 3X reward points on your purchases for each amount of Rs.160/- spent on online or e-commerce merchants for the first 24 months from the day of card issuance.
You will be able to receive 2 reward points for each amount of Rs.150/- spent using this HSBC credit card.
Reward points will be valid for up to 3 years. You can consider redeeming you reward points on electronic equipment, home appliances, airlines miles, gift vouchers, fashion accessories, jewellery, charity donations and cosmetics.
Bonus reward points
If you are crossing an amount of Rs.4 lakh to Rs. 1 crore spent on your card for the first year, you will be eligible to receive 5X times the rewards. If you are eligible for this scheme, the 3X rewards scheme will be automatically ceased.
No annual fee
By making use of this credit card, you will not be required to pay any annual fees. Any add-on card which you may apply for will not be charged with any joining and annual fees.
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A waiver on fuel surcharge
For the amounts of the transaction between Rs.400/- to Rs.4,000/- on fuel at any of the fuel stations across the country, the surcharge on fuel will be waived off. A nominal fee of an amount of Rs.100/- will be charged on the transactions below the amount of Rs.400/-. Customers will get a surcharge of 2.5% on the transaction amounts above Rs.4,000/-.
Liability on lost credit card
If you have lost your credit card, then you will be required to report it to the HSBC bank immediately. You will not be considered liable to any of the fraudulent charges on your credit card up to 24 hours before you report and after 7 days. HSBC will provide an amount of Rs.3 lakhs insurance from Tata AIG General Insurance Company Limited.
You will be able to convert the spends on your retail purchases instantly into EMIs and then pay it back in a convenient manner in small instalments. Instant EMI will be available only on a certain range of purchases at the merchant stores. You will be required to spend a minimum amount of Rs.20,000/- for converting the transaction into an EMI.
Loan on Phone
The facility of Loan on Phone by HSBC will allow you to purchase big-ticket items and will also make it easy for you to convert all your purchases into easy EMIs. The minimum amount of transaction which is needed to avail this offer is Rs.2,000/-. You will have to inform the HSBC bank within 15 days of the purchase for converting it to EMIs of 3,6,9 or 12 months. Rates of interest and processing fees will be applicable but you will be able to still earn reward points. Interest on EMI will be calculated at a lower rate of interest of 15% per annum to 24% per annum.
Cash on EMI
This facility will be available only to the selected cardholders of HSBC Advance Platinum Visa card. This facility lets you withdraw funds and pay it back in EMIs. You will be able to avail the cash through cashier order of NEFT facility. To check if you are eligible for this facility, you will have to get in touch with the HSBC Phone banking.
Conversion of balance
Cardholders will have this option for converting the total outstanding retail balance amount into EMIs and then repay the amount just like a loan. The minimum amount which is required is Rs.5,000/-. You can select EMI options for a tenure of 3,6 and 12 months.
Transfer of balance
You will be able to transfer any balance on credit card of another bank to your HSBC Credit card and then consider repaying the same in EMIs. You will be required to transfer a balance of minimum Rs.3,000/-. The EMI tenures available are 6,12,18 and 24 months.
Offers on dining
You will be able to enjoy your food more whenever you receive a discount of up to 20% on dining at more than 700 partnered restaurants in all the major cities.
Offers on movies
If you spend more than Rs.50,000/- in a month, you will be able to receive a movie ticket voucher which is worth an amount of Rs.500/-. You will be able to get the maximum amount of Rs.3,000/- in a year.
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This credit card is accepted at almost 18 million establishments present across the world. This will include more than 1 lakh establishments in our country.
You will be able to get up to 52 days of interest-free periods on all your purchases. If you pay your credit card bills in full by the due date, then you can continue your interest-free cycle on all the next purchases.
By making use of your credit card, you will be able to roll over the outstanding balance amount to the next month after the payment of minimum due. The balance will be subjected to an interest of 3.3% per month.
Cash advance across the world
By making use of your Advance Platinum Credit card, you will have access to almost 700,000 ATMs across the world.
You can consider registering for online banking for managing your credit card at any time irrespective of the place you are located. You can download the statements, redeem reward points and also get in touch with the HSBC Credit card customer care directly and also privately by making use of online messaging.
By making use of your Phone Banking Number and your Identification Number, you will be able to access phone banking. Payment of credit card bill, balance enquiry and many more options will be available on the phone.
You will be able to get a supplementary card for your family members so that they will be able to enjoy the advantages of HSBC Advance Platinum Visa Credit card. You can also consider taking an add-on credit card for your spouse, children, parents and siblings who are above 18 years of age.
You can consider shopping online with peace of mind by making use of your HSBC Platinum Credit card. An OTP will be provided to your phone number through a text notification for the verification and confirmation of the transaction.
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HSBC Advance Visa Platinum Credit card fees and charges
- There are no joining fees and annual fees charged on this credit card.
- There is no fee charged for add-on cards on this credit card.
- 52 days of the interest-free period will be provided if the outstanding balance of the previous month is paid in full.
- Rate of interest would be 3.3% per month which would be subjected to 39.6% per year and this will be charged from the transaction date on the daily basis of reducing the balance.
- Minimum amount due will be 5% of the total amount of due payment which would be subjected to a minimum of Rs.100/-.
- Charges for late payment is 50% of the minimum amount due if the payment has not reached the HSBC bank within the due date. A minimum amount of Rs.400/- to a maximum of Rs.750/- will be charged.
- Limit on cash-advance will be set at 40% of the actual credit limit or this will be communicated to you on your monthly credit card statement.
- Interest on withdrawal of cash is 2.5% of the value of the transaction from the withdrawal date which would be subjected to a minimum amount of Rs.300/-.
- No fee is charged for withdrawal of cash at domestic ATMs and international ATMS, a fee of Rs.100/- is charged.
- No fee is charged for a balance enquiry at other Bank ATMs.
HSBC Advance Platinum Visa Platinum Credit card Other fees and charges
- An amount of Rs.500/- will be charged per month as over-limit fees.
- Fee for replacement of card is Rs.100/-.
- Charges for cheque bounce or Invalid ECS or standing instruction is Rs.350/-.
- Fee for the transaction made in foreign currency is 3.5% of the amount of transaction.
- Fee for cheque collection and processing out of town is Rs.50/- per cheque up to an amount of Rs.10,000/- and Rs.100/- per cheque of the cheque is between the amounts of Rs.10,000/- to Rs.1 lakh. If the cheque amount is above 1 lakh, then an amount of Rs.150/- will be charged.
- Charges for payment of cash is Rs.100/-. This will be applicable on the payments which are made through cash drop boxes and branches of HSBC.
- Fee for the request of charge slip is an amount of Rs.225/- per month.
- Fee for duplicate statements which are more than 3 months old is Rs.100/- per statement.
- An amount of Rs.10/- will be charged on the fuel transactions which are below the amount of Rs.400/- and for the transactions above Rs.4,000/-, a surcharge of 2.5% will be charged. A maximum amount of Rs.250/- will be waived off in one month.
- Railway surcharge at counters is 2.5% of the amount of transaction which would be subjected to a minimum amount of Rs.10/-.
- Handling charges for redeeming reward points is Rs.50/-.
- Charges for availing a copy of credit information report is Rs.50/-.
- For the loan-on-phone facility, a processing fee of 2% will be applicable which would be subjected to a minimum of Rs.100/-.
To be qualified for an HSBC Advance Platinum Visa Credit card, you will be required to meet the following eligibility criteria
- Your age should be a minimum of 21 years to apply for this credit card.
- You should be earning at least Rs.5 lakhs per annum.
- You should have an HSBC Advance Account.