HSBC issues its lifetime-free Platinum on two networks. Both are ₹0 forever and earn 2 reward points per ₹150 — they differ on the welcome perks and the payment rail.
In-depth review
HSBC Visa Platinum Credit Card
Easy to dismiss as a placeholder — free, no lounge, unremarkable earn — but that undersells it. The card's real value is the bundled membership: a year of Times Prime (worth more than many cards' entire benefit sheet), on a lifetime-free card. Judge it on rewards and it's forgettable; judge it on "what do I get for ₹0," and it's quietly worth holding.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹2,000 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
8 points/₹100 on Travel (~8% value)
Hotels via HSBC's Travel with Points portal earn 6X — 12 pts/₹150, ~8% at ₹1/pt (2:1 Accor); cap 18,000 accelerated pts/month SHARED with flights, base points uncapped
5.33 points/₹100 on Travel (~5.33% value)
Flights via HSBC's Travel with Points portal earn 4X — 8 pts/₹150, ~5.3% at ₹1/pt; cap 18,000 accelerated pts/month SHARED with hotels; ₹300 domestic/₹700 international convenience fee per leg
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹250/month
OTT Subscription
Complimentary 12-month Times Prime subscription via Visa Signature privileges
🎬 ENTERTAINMENT BENEFITS
Movies, OTT subscriptions and entertainment perks.
For anyone who wants the Times Prime membership on a no-fee card, or HSBC customers wanting a free everyday card. Not for international spenders (3.5% forex) or reward maximisers.
Full reward structure
What you earn on every rupee, per spend category — as of 11 Oct 2026. Rates assume 1 pt = ₹1.00. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Travelonly at HSBC Travel with Points · hotels | reward points | 8%8 pts/₹100 × ₹1.00 | ₹18,000one cap shared with Travel |
| Travelonly at HSBC Travel with Points · flights | reward points | 5.33%5.33 pts/₹100 × ₹1.00 | ₹18,000one cap shared with Travel |
| Other | reward points | 1.33%1.33 pts/₹100 × ₹1.00 | — |
Travel: Hotels via HSBC's Travel with Points portal earn 6X — 12 pts/₹150, ~8% at ₹1/pt (2:1 Accor); cap 18,000 accelerated pts/month SHARED with flights, base points uncapped · HSBC Travel with Points · hotels
Travel: Flights via HSBC's Travel with Points portal earn 4X — 8 pts/₹150, ~5.3% at ₹1/pt; cap 18,000 accelerated pts/month SHARED with hotels; ₹300 domestic/₹700 international convenience fee per leg · HSBC Travel with Points · flights
Other: 2 reward points per ₹150 (~1.33% at ₹1/point via 2:1 Accor transfer; ~0.33% as cash)
Earns nothing on: Utility Bills · Government & Tax · Rent · Insurance · Fuel · Wallet Loads · Education · EMI Conversions · Cash Advances · Jewellery · Financial institutions · Money transfer
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 11 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1%, cap ₹250 |
Perks & benefits
Estimated annual value beyond rewards — ~₹2,300/yr in total.
Complimentary 12-month Times Prime subscription via Visa Signature privileges
₹250 cashback on contactless fuel purchases in each quarter you spend ₹10,000 on the card — a quarterly gate (not annual), worth up to ₹1,000 a year; separate from the 1% fuel surcharge waiver
Should you get it?
- Best for: HSBC account holder who cannot qualify for Live+, First HSBC card to establish relationship, Backup card for HSBC customers who want a spare Visa, Very low-spend user who just wants a no-fee backup
- Mid tier — a solid all-rounder for steady monthly spend.
- Strongest value if you spend heavily on everyday spends (1.33% back; 8% only at HSBC Travel with Points · hotels).
Pros & cons
✓ Pros
- Lifetime free — no joining or annual fee, ever
- Entry point to the HSBC card ecosystem before upgrading to Live+
- Standard reward points on all spends
- HSBC global network reliability and customer service
✕ Cons
- No competitive cashback or reward earn rate vs lifetime-free rivals such as ICICI Amazon Pay
- No lounge access or lifestyle perks
- HSBC Live+ is a significantly better option — Platinum is the fallback
- Not worth applying for Platinum if you can qualify for Live+
Eligibility & documents
This is the figure for salaried applicants. Where HSBC sets a separate one for the self-employed, its own eligibility page gives it.
Documents required
- 📄PAN card
- 📄Aadhaar / address proof
- 📄Income proof (salary slips or ITR)
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Redeem reward points for statement credit, vouchers and travel via HSBC Rewards
- 🎁Book travel through the HSBC Travel with Points portal for 6X on hotels and 4X on flights
What your HSBC Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Standard redemption — the floor. HSBC points redeem best by transfer, not cash
Brand & e-gift vouchers
The widest transfer menu of any Indian issuer — 20 partners (15 airlines, 5 hotels), no minimum and no cap. Premier and TravelOne convert at 1:1 on almost everything; Platinum and RuPay Platinum at roughly 2:1 — but NOT a uniform halving, United is 3:1. Best route is Accor ALL at 1:1 (≈₹2/pt), then Shangri-La: its 5:1 looks like the worst ratio here and returns ~₹1.28/pt, because a Shangri-La point is worth ~₹6.40. hsbc-taj is excluded — its points are a closed IHCL wallet that transfers nowhere.
✈ Transfer partners
Direct transfers from this card only, ranked by what a point is worth in the destination programme — plus 12 more partners. Full calculator, every currency →
The base earn is poor (2 RP per ₹150) and the 3.5% forex rules it out abroad — its value rests almost entirely on the bundled memberships, which can be devalued at renewal.
Frequently asked questions
Is HSBC Platinum lifetime free?
Does it offer lounge access?
What are the welcome benefits?
How has the HSBC Visa Platinum Credit Card changed over time?
Has the HSBC Visa Platinum Credit Card been devalued recently?
How did the HSBC Visa Platinum Credit Card change in 2025?
The bottom line
Judged on rewards alone it is forgettable — a modest ~1.33% base (at best transfer value, ~0.33% as cash) and no lounge. But it is lifetime-free and bundles a year of Times Prime, which on its own exceeds many paid cards' benefits. Take it for the Times Prime and the welcome vouchers, keep a low-forex card for travel, and it earns its place in a wallet at zero cost.
How this page was built
Counted from this card’s own record: 3 earn rules, 2 of them capped, 2 paid only at named merchants, the spends listed as earning nothing and 2 recorded perks.
Last updated 11 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the HSBC Visa Platinum Credit Card are taken from HSBC's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 11 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for HSBC. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Similar & related cards
Other cards worth comparing before you apply.
Federal Bank Imperio Credit Card
Comparable FEDERAL option
IndusInd Bank Platinum Aura Edge Credit Card
Comparable INDUSIND option
EazyDiner IndusInd Bank Platinum Credit Card
Comparable INDUSIND option
Scapia Credit Card
Comparable FEDERAL option
IndusInd Bank Platinum Credit Card
Comparable INDUSIND option
AU LIT Credit Card
Comparable AU option
Read more
Guides and reviews related to this card.
HSBC Visa Platinum Credit Card
Easy to dismiss as a placeholder — free, no lounge, unremarkable earn — but that undersells it. The card's real value is the bundled membership: a year of Times Prime (worth more than many cards' entire benefit sheet), on a lifetime-free card. Judge it on rewards and it's forgettable; judge it on "what do I get for ₹0," and it's quietly worth holding.
HSBC Live+ Credit Card
Built for one very 2020s pattern — the urban household whose statement is a scroll of Swiggy, Zomato, Blinkit, BigBasket, shopping and bill payments. Since the 26 July 2026 revamp it pays a flat 10% on all of that — the widest 10% basket in India — wrapped around a 1.5% base and a 1.99% forex markup. If your spending looks like that, this is your card. The only thing holding it back is the ₹1,200 shared monthly cap, which a moderate quick-commerce habit exhausts quickly.
HSBC Cashback Credit Card (now HSBC Live+)
Built for the person who refuses to run a rewards programme — no portal, no points, no category to activate. Just flat 10% on dining, groceries and food delivery (capped ₹1,000/month), wrapped around a genuinely useful 1.5% unlimited base, auto-credited. Never optimal on any one transaction, always fine for all of them. The catches: the monthly cap and HSBC's lean ecosystem. (Now rebranded as HSBC Live+.)
HSBC Premier World Mastercard
Annual fee waived for HSBC Premier customers (a ₹12,000 joining fee applies), a class-leading 0.99% forex markup, unlimited domestic and international lounges, and ₹1 crore of travel insurance — with none of the spend-threshold games that clutter its rivals. It won't out-earn an Infinia, but for a Premier customer it's close to a no-brainer. The only barrier is the banking relationship.
HSBC Visa Signature Credit Card
Note first: HSBC no longer offers a standalone Visa Signature card in India — the Visa Signature benefits are now folded into the lifetime-free HSBC Visa Platinum. This review covers the legacy ₹1,499 Visa Signature (5X on dining, travel and online shopping plus lounge and golf) for existing holders and context. New applicants should look at the free Platinum for the same Visa Signature perks, or the TravelOne for premium travel value.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · last change Aug 2026
2026
- ▼ WelcomeEffective 31 Aug 2026
3-month Swiggy One welcome membership ends
Complimentary 3-month Swiggy One membership on activating the card within 30 days, alongside 12-month Times Prime→Swiggy One offer ended; 12-month Times Prime remains
HSBC's introductory offer of a complimentary 3-month Swiggy One membership, for primary cardholders who activated the card within 30 days of issuance, ran from 15 September 2025 to 31 August 2026 and has not been extended: HSBC's product page no longer lists it. The 12-month Times Prime subscription is unaffected.
Verification: HSBC India ↗ · Confidence: High
2025
- ▲ BenefitObserved Jul 2025 · Effective 1 Sept 2025
Card moved to Visa Signature with lifestyle benefits
Visa Platinum platform, no bundled memberships→Visa Signature platform + 1-year Times Prime, MakeMyTrip perks and tap-to-pay fuel cashback
From 1 September 2025 HSBC re-platformed the card from Visa Platinum to Visa Signature at no fee, adding a complimentary one-year Times Prime membership, two MakeMyTrip flight seat selections (up to ₹350 each) plus 15% MyCash on domestic hotels, and ₹250-per-quarter cashback on tap-to-pay fuel spends over ₹10,000. It repositioned a bare no-fee card as a memberships vehicle.
Verification: CardAdvisor Research · Confidence: High
- ▼ MilestoneObserved Jul 2025 · Effective 31 Aug 2025
Accelerated 5X milestone reward withdrawn
5X reward points (per ₹150) once annual spends cross ₹4 lakh→Accelerated 5X milestone bonus discontinued
HSBC withdrew the accelerated 5X reward-points benefit that Platinum holders earned after crossing ₹4 lakh of annual spend, effective 31 August 2025. Customers who had already hit the threshold kept the bonus until their card anniversary or 31 August 2026, whichever came first. The base earn of 2 points per ₹150 was unchanged.
Verification: CardAdvisor Research · Confidence: High
- ▲ TransferEffective 14 May 2025
HSBC revamps rewards programme with 20 transfer partners
Points redeemable for merchandise, vouchers and limited airmiles conversion→Points transfer to 20 airline and hotel partners (15 airlines + 5 hotels) at 2:1, tracked in-app
HSBC India overhauled its rewards platform, letting Platinum cardholders move reward points to about 20 airline and hotel loyalty programmes (roughly 15 airlines and 5 hotel chains) at a 2:1 ratio, with earning and redemption tracked in the mobile banking app. This materially raised the ceiling on what a Platinum point can be worth to a traveller.
Verification: HSBC India ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
</> Embed this timeline on your site
Free to use. Facts only — dates, changes and before/after values. Please keep the credit line below the frame: it's the only part search engines can see, and it's what we ask for in return.
“ Cite this timeline
Quoting a date or a before/after figure? Copy the HTML version — it credits the record with a working link.
Source: <a href="https://cardadvisor.in/cards/hsbc-platinum#value-timeline">HSBC Visa Platinum Credit Card value timeline</a>, CardAdvisor (CC BY 4.0).
Want to know if this beats your current card for your spending?
Applications are submitted to and decided by HSBC. CardAdvisor does not issue cards or process applications.