1. Card Overview (Quick Summary)
- Strong cashback card with 10% on dining, grocery & food delivery (lower cap)
- UPI-enabled credit card for everyday payments
- 0% forex markup (limited-time offer)
- Lounge access + multiple merchant offers
2. Key Benefits
- 10% Cashback on Dining, Grocery & Food Delivery Total cashback capped at ₹400/month across these categories
- 1% Cashback on Other Spends Applies to all other eligible transactions
- UPI Payments via Credit Card Pay using apps like GPay, PhonePe, Paytm
- Airport Lounge Access 2 domestic per quarter + 2 international per year
- Welcome Benefit – ₹500 Cashback On ₹10,000 spend + app login in 30 days
- 0% Forex Markup (Limited Time) Valid till June 2026 (then may revert to standard rates)
3. Other Benefits
- ₹250 Amazon Voucher On online application + video KYC
- UPI Cashback Offer ₹250 cashback on first 2 UPI transactions
- Paytm Bill Payment Offer 5% discount (max ₹150) using code HSBCRUPAY
- Myntra Offer 12% discount (max ₹1,000) every Sunday
- Cleartrip Travel Offers Discounts up to ₹6,000 on flights/hotels
- RuPay & JCB Network Offers Access to domestic & international merchant discounts
4. Detailed Benefits Calculation (Very Important)
🔹 Cashback System
- 10% cashback capped at ₹400/month → max benefit = ₹400
- 1% cashback unlimited
✅ Example 1: Normal Monthly Usage
Assumption:
- ₹30,000 monthly spend
|
Category |
Spend |
Cashback |
Value |
|
Dining + Grocery |
₹5,000 |
10% |
₹400 (cap reached early) |
|
Other spends |
₹25,000 |
1% |
₹250 |
Total Spend: ₹30,000
Total Cashback: ₹650
👉 Effective Return ≈ 2.17%
🚀 Example 2: Optimized Monthly Usage (Max Cap Strategy)
Assumption:
- ₹50,000 monthly spend
|
Category |
Spend |
Cashback |
Value |
|
Dining + Grocery |
₹4,000 |
10% |
₹400 (max cap reached) |
|
Remaining ₹46,000 |
1% |
₹460 |
Additional Benefits:
- Lounge value: ~₹800/year (~₹65/month)
- Paytm savings: ₹150
👉 Total Monthly Value = ₹400 + ₹460 + ₹150 = ₹1,010
👉 Effective Return ≈ 2.0%
⚠️ Key Observations:
- 10% benefit maxes out at just ₹4,000 spend/month
- After that, only 1% cashback applies
- Best suited for low-to-mid spenders
5. Card Best For
- Users who want UPI + credit card rewards combined
- Low-to-mid spenders (₹10K–₹40K/month)
- Dining + grocery users with moderate spend
- Users needing low-cost card with lounge access
6. Pros & Cons
✅ Pros
- UPI-enabled (rare and highly useful)
- Decent cashback structure (10% + 1%)
- Low annual fee with waiver option
- Lounge access included
❌ Cons
- Very low cap on 10% cashback (₹400/month)
- Base cashback only 1% (average)
- 0% forex is temporary
- Limited city availability
7. Eligibility Criteria
- Income: ₹6 lakh+ annually (salaried)
- Age: 18–65 years
- Location: Selected cities only
- Credit Score: 750+ recommended
8. Fees & Charges
- Joining Fee: ₹499
- Welcome: ₹500 cashback + ₹250 Amazon voucher
- Annual Fee: ₹499
- Waived on ₹2,00,000 yearly spend
- Interest Rate: Not specified (~3–3.5% monthly typical)
- Late Payment Charges: As per HSBC policy
- Forex Markup: 0% (till June 2026), then standard (~3.5%)
9. User Tips / Expert Tips
- Spend only ₹4,000/month in 10% category (to maximize cap efficiently)
- Use UPI for small daily payments to earn cashback
- Use Paytm offer monthly for extra savings
- Avoid overspending in 10% category beyond cap
- Hit ₹2L yearly spend to waive fee
10. How to Apply & Documents Required
📝 Application Process:
- Apply online via HSBC website
- Complete video KYC
- Activate card via mobile banking app
📄 Documents Required:
- PAN Card
- Address proof
- Salary slip (for salaried users)
- Additional documents if required
11. FAQs
Q1. What is the maximum cashback I can earn monthly?
₹400 from 10% category + unlimited 1% on others.
Q2. Is UPI supported on this card?
Yes, via apps like GPay, PhonePe, Paytm, etc
Q3. Is forex markup really 0%?
Yes, but only till June 2026 (limited-time offer).
Q4. How to waive annual fee?
Spend ₹2,00,000 in a year.
Q5. Does it offer lounge access?
Yes, domestic + limited international visits.
Q6. Is this card good for high spenders?
No, due to low cashback cap.
Q7. Is this card worth it overall?
Yes, for UPI users and moderate spenders.
🔥 Final Verdict
This is a well-balanced cashback + UPI card, ideal for daily transactions and moderate spending.
However, the low ₹400 cap limits its full potential, making it best as a secondary card rather than a primary one.
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