HSBC RuPay Cashback Credit Card
The HSBC RuPay Cashback Credit Card is a simple and affordable option for people who want to save on everyday spending. It comes with a joining and annual fee of ₹499 plus GST and gives 10% cashback on dining, food delivery, and grocery shopping. You earn 1% cashback on all your spending, even when you pay using UPI. The cashback is capped at ₹400 per month for both categories, which may feel low for heavy spenders. But for beginners or those looking to get started with HSBC credit cards, it’s a good choice. It is also seen as a lighter version of the HSBC Live+ Credit Card, which comes with a higher fee.
Apart from cashback, the card offers some extra benefits that make it stand out. You get free access to both international and domestic airport lounges without needing to spend a certain amount. The card is accepted in over 160 countries through its JCB network and currently offers zero forex markup for a limited time. You also get deals and discounts on food, travel, skincare, and bill payments on popular platforms. Overall, it’s a good option for people who want to save money on daily spending and UPI transactions without paying a high annual fee.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Can I earn cashback when I make UPI payments using the HSBC RuPay Cashback Credit Card?
Yes, you will earn cashback on UPI payments made using this card, except on some excluded spending categories.
Is this card free for lifetime use?
No, this card has a joining and annual fee of ₹499 plus GST.
Can I use this card outside India?
Yes, you can use the HSBC RuPay Cashback Credit Card in around 160 countries through the JCB network.
Will I earn cashback on international transactions?
No, international spends are not eligible for cashback, even though there is currently no forex markup fee.
Can I use this card on the Visa network?
No, this card is only available on the RuPay network.
What is HSBC SimplyPay?
HSBC SimplyPay is a mobile app that helps you send money through UPI and pay your bills easily. You can link your HSBC RuPay credit card and bank account to use it.
What are the benefits of EazyDiner Prime with this card?
You can get up to ₹3,000 in savings, 25% to 50% off at top restaurants, faster table booking, 2X reward points, and VIP support through EazyDiner Prime.
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