HSBC Smart Value Credit Card Review

Receive the following welcome benefits on a minimum transaction of Rs. 1,000 within 30 days of card issuance:

Amazon Offer:  Amazon voucher worth Rs. 1,500.

Google Pay Offer: 50% discount (up to Rs. 100) on first transaction via Google Pay.

Cashback Offer: 10% cashback up to Rs. 1,000 after 5 transactions with total spending of Rs. 5,000 within first 60 days from the date of card issuance. The eligible cashback will be credited within 60 days after completion of 60 days from credit card issuance.

EMI Option: Monthly installment at 10.99% per annum. This is applicable to loan on phone, balance transfer on EMI and cash on EMI within 90 days from the date of card issuance.

Airport Lounge Access: 3 complimentary airport lounge access at domestic & international lounges or 3-meal vouchers*.

*For use at airport restaurants in India.

With no joining fees, the welcome benefits offered by this credit card are exemplary, especially for the people who frequently shop. You can avail discounts, cashback and gift vouchers on your transactions after joining. This is a well-suited option if you want to earn multiple discounts at the time of joining. However, to avail welcome benefits, you need to meet a certain transaction amount, which might not be possible for everyone to achieve. In such a case, you can opt for other credit cards that offer welcome benefits right after the payment of the joining fee.

With HSBC Smart Value Credit Card, you can earn reward points on every purchase. Below mentioned are the details regarding the same:

• 1 reward point for every Rs. 100 spent
• 3X reward points on all spends on online, dining and telecom categories (maximum at 1,000 incremental reward points per month)
• Reward points can be redeemed for a host of gifts and vouchers available on HSBC Bank rewards catalogue
• Reward points are valid for 2 years

If you look at the rewards rate, this card offers a satisfactory rewards rate on every purchase. However, people, who frequently shop online and regularly make transactions in dining and telecom categories, can earn maximum rewards on their purchases. One of the drawbacks of reward points is that they come with a validity of 2 years, which means you need to redeem them within 2 years of receiving them, which might be tricky.

Suggested read: Best Credit Cards for Reward Points

You can also avail general benefits like fuel surcharge waiver, low-interest EMI and more via HSBC Smart Value Credit Card. Here are the other benefits offered by this credit card:

Low-interest EMI: Manage your payments or transfer your balances on EMI and borrow cash and repay in installments at a lower interest rate.

Dynamic Annualized Percentage Rate (APR): This credit card comes with a dynamic interest rate, starting from 3.49% per month (41.88% per annum) that can go down up to 1.99% per month (23.88% per annum) depending upon the customer’s risk profile.

Fuel Surcharge Waiver: Up to Rs. 3,000 annual savings on fuel surcharge.

HSBC Card Offers: Discounts on travel, electronics, groceries, dining and more via HSBC card offers.

This card comes with a satisfactory rewards rate. However, if you are looking for a credit card with better rewards in a similar bracket, you can refer to the table below:

HSBC Smart Value Credit Card offers numerous lifestyle privileges. You can earn reward points on your daily transactions via this credit card. However, these privileges are provided only on select merchants. Additionally, you can avail cashback on your select purchases. This card is a good option if you want to earn reward points on your purchases and don’t want to pay an annual fee. Also, the exemplary welcome benefits provided by this credit card make it a suitable companion for your wallet.

However, this card provides maximum benefits only on online shopping, dining and telecom categories. So, if you are not a frequent shopper or a regular user of these categories, then the rewards rate on this card might not be favourable for you. You can look for other rewards credit cards if you want to gain reward points on your online as well as offline purchases.

Must read: Best Shopping Credit Cards in India

No doubt, this is a very good credit card for frequent shoppers. However, there are a few things you should be cautious about:

• Cashback will be provided only after the completion of 5 transactions
• Welcome benefits will be provided only after you meet the minimum spending amount
• Reward points are valid only for 2 years
• 3X reward points only on select categories

HSBC Smart Value Credit Card is a great option if you want to earn reward points on your purchases and don’t want to pay an annual fee. Additionally, you can also earn cashback on your select purchases via this credit card. However, this credit card is not suitable for people who want to earn higher rewards in multiple categories.