HSBC Lifetime Free Credit Card : The Updated Guide

Priya is a 28-year-old software engineer located in Bangalore. Priya likes to travel and find new destinations, but her busy schedule often leaves her very little time to plan her trips.

With an HSBC Visa Platinum Credit Card, Priya earned 2 prize points for every ₹150. This means that for a monthly expense of ₹40,000, she earns 533 reward points (₹40,000) / (150 × 2). 

Over a year, it adds up to 6,400 reward points, as it can turn into Air Miles with large airlines such as Air India, Etihad Airways, British Airways, and Singapore Airlines.

For someone like Priya, who loves travelling with little savings every day, the HSBC Visa Platinum Credit Card is a game changer. This blog will teach you about its features, benefits, fees, qualification criteria, and application. We will also provide a quantitative example to help you understand how this card can be added to your lifestyle value.

Read More – HSBC Visa Platinum Credit Card

Why Choose HSBC Lifetime Free Credit Cards?

HSBC is one of the leading banks in India. Its credit cards serve a variety of consumers, including those who are salaried, frequently travel, and business individuals. The following are the reasons why you should choose the HSBC Lifetime Free Credit Card:

1. Usage across the globe
2. Rewards with Cashbacks
3. Free for life
4. Exclusive Discounts
5. Various modes of repayment 

Features and Benefits of the HSBC Lifetime Free Credit Card

1. No annual or joining fees

No annual or joining fees are associated with the HSBC Visa Platinum Credit Card, one of its fantastic characteristics. This implies that you can take advantage of all the card's features without worrying about spending on extra fees.

2. Reward Points for Everyday Spending

For every ₹150 spent, the card delivers 2 reward points. Let's use an example to clarify this:

These points can be used for air miles, gift cards, or merchandise.

3. Accelerated Reward Points: The card has an expedited rewards program for heavy users. Subject to a maximum cap of 15,000 accelerated reward points, you receive 5X reward points on subsequent transactions if you spend ₹4,00,000 a year.

4. Air Miles: The HSBC Visa Platinum Credit Card enables you to convert reward points into air miles on the most significant airlines, such as Air India, Etihad Airways, and Singapore Airlines. 

For example, if Priya flies with Etihad Airways, she will earn 10,000 reward points. Let us understand it by the table given below:

5. Fuel Surcharge Exemption

With the card's fuel surcharge waiver, you can save up to ₹3,000 a year. For instance, assuming a 5% surcharge waiver, you save ₹250 per month if you spend ₹5,000 on petrol each month. This results in savings of ₹3,000 over a year.

6. Special Discounts and Offers

HSBC members are eligible for special deals and discounts from a few partners. For instance, you might receive 10% off on live event tickets or a 10% to 30% discount when dining at partner restaurants.

7. Replacement of Emergency Cards

HSBC provides emergency card replacement anywhere in the world within three days if you misplace your card. This guarantees that you won't ever be stuck without access to your money.

8. There is no liability for lost cards

The card has zero liability insurance, which covers up to ₹3,00,000 in neglect claims.

9. Facility for Balance Transfer

With your HSBC Visa Platinum Credit Card, you can pay off outstanding amounts from other bank credit cards in convenient monthly instalments at a reduced interest rate. For example, Priya has a ₹1,00,000 exceptional balance on her ICICI credit card and opts for a balance transfer to her HSBC lifetime free credit card. Refer to the table below for further calculations:

= Total savings of ₹13,984

What Is the Fee Structure for HSBC Visa Platinum Credit Card?

What are the Eligibility Criteria for HSBC Lifetime Free Credit Card?

How to Apply for an HSBC Lifetime Free Credit Card

Step 1: Go to HSBC India's official website.

• Open your web browser and go to the official HSBC website. Apply online now for HSBC credit cards.
• Click on "Banking—Cards and Accounts.”
• Now go to the "Credit Cards" section on the homepage. This will list every credit card product that HSBC offers.

Step 2: Choose the Visa Platinum Credit Card.

• Find the HSBC Visa Platinum Credit Card by scrolling through the credit card list.
• To see the card's specific features, advantages, and requirements for eligibility, click on it. 
• Check if the card's features, such as fuel fee waiver, air miles conversion, reward points, and other benefits, meet your demands.

Step 3: Fill in Your Personal, Professional, and Financial Details

Personal Data:- 

• Enter your first and last name, DOB, country of residence, nationality, and gender.
• Full Name, Date of Birth and Gender
• Mobile Number and Email Address

Residential Details:

• Current residential address.
• City of residence

Professional details

• Select the employment type (salaried or self-employed).
• Enter employer name, designation, and monthly/annual income.
• Ensure your annual income is a minimum of ₹4,00,000 for salaried.

Financial Details:

• Enter your PAN card number (mandatory for credit card applications).
• Details of existing bank accounts or details of Credit Cards.

Step 4: Complete Video KYC (VKYC)

• After submitting your application form, you must complete the Video KYC (VKYC) process.
• PAN card (mandatory).
• Aadhaar Card (for Identity & Address Verification).
• Post that in the VKYC process, the HSBC Representative will connect with you over a video call to verify your identity and the documents you uploaded.
• Submit the required documents as instructed by the representative to complete the process without any issues.

Also Read - HSBC Net Banking

Step 5: Submit Required Documents

• After you have completed the VKYC, please upload self-attested scanned copies of the below documents:
• PAN card (mandatory for all applicants).
• Aadhaar card (for identity and address proof).
• Latest salary slip or income proof (for salaried individuals)
• Bank statement (last 3 months).
• Address proof (if your address differs from the one on your Aadhaar card).
• Make sure your documents are straightforward and can be read easily.

Step 6: Wait for Approval

• After you submit your application and documents, HSBC will review your eligibility.
• If required, the bank may contact you for additional information.
• You will receive updates on your application status via email or SMS.
• The approval process takes 7 to 10 business days, depending on your application and documents.

Step 7: Activate Your Card

• Your HSBC Visa Platinum Credit Card will be dispatched to your registered address upon approval.
• Once you receive the card, follow the activation instructions in the welcome kit.
• You can activate your card by:
  • Calling HSBC customer care.
  • Log in to the HSBC India Mobile App and follow the activation steps.

Step 8: Start Using Your Card

• After activation, you can use your HSBC Visa Platinum Credit Card for purchases, bill payments, and more.
• Download the HSBC India Mobile App to:
  • Track your spending and rewards.
  • Redeem Reward points for air miles, vouchers, or other benefits.
  • Access exclusive offers and discounts

Set up automatic bill payments or reminders to avoid missing due dates.

Tips to Maximize Your HSBC Lifetime Free Credit Card Benefits

1. Use Reward Points Smartly

The HSBC Visa Platinum Credit Card gives you 2 reward points for every ₹150 spent. You can redeem these points for air miles, gift vouchers, and more. To get the maximum out of your reward points, use them smartly.

How to Use Rewards Points Smartly:

1. Redeem Reward Points for Air Miles: If you are a frequent flyer, convert your Reward points into air miles with airlines like Air India, Etihad Airways, British Airways, and Singapore Airlines. This will save you a lot of money on airfare.

Example: If Priya earns 10,000 Reward points in a year, she can convert them into air miles worth approximately she can use her 5,000 points while booking a domestic flight or international flight to reduce her fare.

a. Redeem for Shopping or Cashback: You can redeem the points in various ways. If you are not a frequent flyer, you can still redeem your reward points in shopping vouchers and get multiple cashback offers. 

b. Plan Your Redemptions: You can save your points for better redemption if you save 5000 points. You can redeem these points while booking your flight, and this can get you a better discount instead of using 500-1000 points for dining or shopping purposes. Don’t redeem your points for small rewards. Instead, save them up for bigger redemptions that give better value.

2. Pay Bills on Time

Paying your credit card bills on time is key to avoiding late payment fees and a good credit score. HSBC Visa Platinum Credit Card has a bill payment grace period, but pay your bills before the due date to avoid extra charges.

Why Pay Bills on Time?

• Avoid Late Payment Fees: Late payments can cost up to ₹500 or more depending on your outstanding balance.
• Good Credit Score: Timely payments help build the good credit history required for loan approvals and better interest rates.
• Interest-Free Period: Paying your bills in full before the due date gives you an interest-free period of up to 48 days.

Example: If Priya has an outstanding balance of ₹20,000 and pays before the due date, she avoids a late payment fee of ₹500; this helps her to maintain her credit score. Let’s understand it through a table: