HSBC
Visa Platinum
The HSBC Visa Platinum Credit Card is a lifetime-free, entry-level card designed for consumers seeking an all-rounder financial tool with rewards across shopping, lifestyle, and travel. Since it carries absolutely no joining or annual fees, it is an accessible choice for credit newcomers who want to establish a credit footprint while earning rewards.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 7 June 2026.
At a Glance
Annual Fee
Nil
Joining Fee
Nil
Fee Waiver
N/A
Lounge Access
See details
Forex Markup
3.5%
Effective Yield
0.33% – 1.67%
Our Take
CreditGully Rating
Based on CreditGully editors' analysis. Not influenced by card issuers.
The HSBC Visa Platinum Credit Card is a lifetime-free, entry-level card designed for consumers seeking an all-rounder financial tool with rewards across shopping, lifestyle, and travel. Since it carries absolutely no joining or annual fees, it is an accessible choice for credit newcomers who want to establish a credit footprint while earning rewards. Cardholders can earn a basic rate of 2 reward points for every Rs. 150 spent, alongside accelerated earnings on select categories.
Its standout features include up to 6X reward points on travel purchases booked through the 'Travel with Points' portal and a competitive 2:1 point redemption ratio for conversion to major partner airlines and hotel loyalty points. The card also packs solid welcome and lifestyle value, featuring a complimentary 12-month Times Prime subscription, a 3-month Swiggy One membership, and exclusive booking benefits on MakeMyTrip. Additionally, users can save on fuel through surcharge waivers and quarterly cashback on contactless transactions.
This card is ideal for salaried individuals earning a minimum of Rs. 6 Lakh per annum who are looking for a fee-free credit card. It is perfect for those who want basic travel rewards and prefer to redeem their points for airmiles or hotel loyalty programs, but do not require heavy travel luxury perks like airport lounge access.
What We Like
We highly appreciate that the HSBC Visa Platinum Credit Card is a lifetime free card with zero joining and annual fees. It stands out by offering up to 6X accelerated reward points on travel bookings through its dedicated portal, combined with a highly flexible 2:1 redemption ratio for transfer to various partner airlines and hotels. Additionally, the generous welcome benefits—such as a free Times Prime subscription and Swiggy One membership—add immediate value for new cardholders.
Pros
- ✓No joining and annual fee
- ✓Up to 6X reward points on travel spends
- ✓2:1 reward redemption ratio for partner airlines/hotels
- ✓Free 3-month Swiggy One Membership
- ✓Exclusive travel & lifestyle benefits through Visa Signature
Cons
- ✗Low base reward rate of 0.67%
- ✗No travel benefits, such as complimentary lounge visits
- ✗No spending milestone benefits like bonus rewards
Get This Card If
- ✓You are looking for a lifetime free credit card with basic benefits
- ✓You prefer to redeem accumulated reward points against partner airline or hotel loyalty points
- ✓You are looking for a card with exclusive Visa benefits around travel & lifestyle
- ✓You are seeking a card with decent welcome benefits through bonus cashback, free membership & voucher
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| Standard Retail Spends | 2 Reward Points (RP) per ₹150 | 0.33% - 0.50% | No Upper Cap |
| Post-Milestone Accelerated (5X) | 10 RP per ₹150 | 1.66% - 2.50% | Capped at 15,000 bonus points per year |
| Excluded Categories | No Points Earned | 0.0% | — |
Milestone Rewards
| Spend | Benefit | Value | Summary |
|---|---|---|---|
| ₹4 Lakh | 5X Reward Multiplier15,000 pts | ₹3,750 - ₹5,500 | Unlocks 5X points for the remainder of the year (capped at 15k bonus points). |
| ₹0.5 Lakh | Monthly Cashback Offer | ₹500 | Occasional 'Spend & Earn' offers (e.g., ₹500 cashback on ₹50k monthly spend). |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| Air Miles / Hotel Partners | ₹0.30 - ₹0.50 per RP1:1 Ratio (Partners vary) | Best Value (Partners: Air India Maharaja Club, British Airways, Singapore Air) |
| Brand Vouchers (Rewards Catalogue) | ₹0.25 per RPVariable | Moderate (Good for Amazon/Flipkart vouchers if not using for travel) |
What You Need to Know
The AirDine Alternative
You can choose 3 Airport Meal Vouchers instead of Lounge Access.
Impact: Excellent for small-city airports where lounges are often overcrowded or absent.
Low Base Yield
The 0.33% base yield is one of the lowest in the entry-level segment.
Impact: Not ideal as a primary card unless you consistently hit the ₹4L milestone.
Lounge Access Cap
The 3 visits are for the WHOLE year, not per quarter.
Impact: Very limited compared to competitors like HDFC Regalia or ICICI Sapphiro.
Service Area Restriction
HSBC only issues this card in select Tier 1 and Tier 2 cities.
Impact: Harder to get than 'National' cards from SBI or HDFC.
Essential Fine Print
Reward Exclusions
Non-Reward Categories: Fuel spends, insurance payments, rental payments, and e-wallet loading transactions.
Welcome Offer
₹250 Amazon E-Gift Voucher
₹250 Amazon gift voucher when you apply online, verify yourself by video and receive your credit card.
₹500 activation voucher
Receive a voucher worth up to ₹500 for Amazon Pay, Zomato and Swiggy when you activate your card with a single transaction of ₹300 or more.
Milestone Benefits
Accelerated Rewards
Earn up to 6X reward points on hotels, flights and car rentals on Travel with Points.
Additional Features
Zero Lost Card Liability
Total protection against unauthorized transactions from the moment the card loss is reported to the bank.
Emergency Card Replacement
Card replacement service available globally within 3 business days if the card is lost or stolen.
Visa Signature Benefits
A complimentary 12-month Times Prime subscription, giving you free access to Discovery+, Spotify Premium, Uber One and more Complimentary flight seat selections twice a year on domestic flights booked with MakeMyTrip using promo code: VISAFREESEAT. 15% cashback added to your MakeMyTrip Wallet in 'My Cash' for hotel stays in India when you book with MakeMyTrip – using promo code: VISASIGNATURE.
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | Nil |
| Annual / Renewal Fee | Nil |
| Fee Waiver Threshold | N/A |
| Forex Markup | 3.5% |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Minimum Income
Annual income of ₹4,00,000 or more.
Age
Primary cardholder must be between 18 and 65 years of age.
Location
Available to residents in select cities including Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune.
Ready to apply for Visa Platinum?
Annual fee: Nil
Frequently Asked Questions
Annual fee
Nil
0.33% – 1.67% yield