As of 1st July 2024, the HSBC Visa Platinum Credit Card will undergo a significant change. The card will no longer offer reward points on several spending categories. This has raised concerns among cardholders about whether this change constitutes a devaluation of the card’s benefits.
Overview
In this blog post, we’ll explore the impact of this change, analyze whether it should be a cause for concern, and provide insights into how you can still make the most of your HSBC Visa Platinum Credit Card.
Key Changes
From 1st July 2024, the HSBC Visa Platinum Credit Card will not give any reward points on the following spending categories:
-
Fuel
-
Utilities
-
Insurance
-
Education
-
Wallet reloads
This change has led to questions about the value of holding onto this credit card. However, there’s more to consider.
Is This a Devaluation?
Understanding the HSBC Visa Platinum Credit Card
The HSBC Visa Platinum Credit Card is known for being a Lifetime Free credit card. Despite offering an extremely low reward rate, it has its own set of advantages. Here’s why many users have kept this card in their wallets:
-
-
Lifetime Free Card: The absence of annual fees makes it an attractive option for many.
-
Instant Discount Offers: The card is often used during HSBC instant discount promotions, which can provide significant savings on various purchases.<
-
Reward Points: Not the Main Attraction
For many cardholders, the primary reason for holding the HSBC Visa Platinum Credit Card is not the reward points. Given its low reward rate, savvy credit card users often prefer other cards for accumulating rewards or cashback. For example, the ICICI Amazon Pay Credit Card offers much better rewards and cashback options, making it a more suitable choice for those focused on earning points.
The Core Value Remains
Despite the removal of reward points for specific categories, the HSBC Visa Platinum Credit Card retains its core value proposition:
-
Lifetime Free: No annual fees mean it doesn’t cost anything to keep the card.
-
Instant Discounts: The ability to use the card during HSBC’s instant discount offers remains unchanged.
Should You Be Concerned?
In my view, there’s no need to worry. The key benefits of the HSBC Visa Platinum Credit Card remain intact. Here’s why:
-
HSBC Instant Discount Offers: These promotions can provide significant savings, and this benefit is still available.
-
Zero Annual Fees</b: Since the card is free for life, it costs nothing to keep it for occasional use during discount offers.
For those primarily interested in reward points, it’s advisable to look into other lifetime free credit cards that offer better rewards, such as the ICICI Amazon Pay Credit Card.
Conclusion
While the removal of reward points for certain categories might seem like a devaluation at first glance, the fundamental advantages of the HSBC Visa Platinum Credit Card remain unchanged. It’s still a valuable card for enjoying HSBC instant discount offers without any annual fees.
Share Your Thoughts
What are your thoughts on this change? Do you see it as a significant devaluation? Let us know in the comments below.
If you’re interested in applying for the HSBC Visa Platinum Lifetime Free Credit Card to benefit from instant discount offers, click here to apply.
Stay informed and make the best use of your credit cards!
