Riding on cashback wagon HSBC bank has launched another credit card in India named after cashback itself. In past few months credit card market in India is getting hot with range of co-branded credit card being launched by all e-commerce platform is association with big banks.
This card is to match up the higher reward rate offered by the other recent credit cards like Icici Amazon pay card, Sbi Ola Card, Citi Paytm Card or Axis Flipkart Card.
Key Features:
- 1.5% cashback on all online transactions(web/app).
- 1% cashback on all offline transactions(POS/swipe)
- Rs.750 annual fees from second year(waived on spending 3lac in year)
Introductory / Promotional Offers:
- 20% off on Swiggy orders above INR400. (Discount up to INR100, valid once per month per user)
- 5% discount on Amazon spends of INR1,000 or above. (Maximum discount of INR250 per card per month, no restriction on number of transactions)
- Get INR2,000 Cleartrip voucher (Domestic Flights) & INR250 Swiggy voucher on your first successful transaction of any amount within 30 days of credit card issuance.
It’s a good card to have on HSBC portfolio. Default rate of 1.5% & 1% is good for entry level card. Spend based waiver of 3lac per year is a little higher. But its clear HSBC wants this to be your primary credit card.