HSBC Bank has rolled out yet another fantastic offer on their credit cards starting new year 2020. Under this offer, HSBC is providing gift vouchers, cashacks and bumper prize of MakeMyTrip vouchers to Thailand/Malaysia for top 5 spenders. The gift voucher offer is user specific and spend targets along with gift voucher is communicated to card members over email. Let’s delve in to the details of this offer.
Offer Details
- Offers:
- Offer 1: Rs. X gift voucher when you spend Rs. Y or more
- Gift voucher can be redeemed across BookMyShow, Uber, Shoppers Stop, Taj Experiences, Amazon, Domino’s Pizza, Four Fountains De-Stress Spa & Myntra
- Period: Monthly between 1st January 2020 to 31st March 2020
- Type: Targeted, applicable only if communication received from HSBC Bank, registration required
- Offer 2: Rs. 2,020 cashback for every Rs. 1 Lakh spent, 2% reward rate
- Period: Monthly between 1st January 2020 to 31st March 2020
- Maximum Cap: None
- Minimum Spends: In multiples of Rs. 1 Lakh
- Type: Open for all HSBC card members, registration required
- Bumper Prize: Top 5 spenders get a MakeMyTrip holiday package for 2 pax to Thailand/Malaysia (inclusive of return flights and 4 night/5 day stay at a 4-star deluxe hotel), worth Rs. 1 Lakh
- Period: 1st January 2020 to 31st March 2020
- Type: Open for all HSBC card members, registration required
- Offer 1: Rs. X gift voucher when you spend Rs. Y or more
- Fulfillment:
- Gift vouchers and cashback for Offer 1 and Offer 2 will be given to eligible Cardholders within 60 days after the particular monthly Offer gets over
- Bumper Prize will be given by 30th May 2020
- Other T&C:
- Offer valid only on registration.
- To register, SMS HSBC2020 to 575750 from registered mobile number
- Cardholders’ eligibility for the Offer would be considered from the month onwards in which he/she registers.
- Source: Email
For Offer 1, people have reported some targets as below:
- Rs 1,000 gift voucher on spending Rs 35,000 or more
- Rs 1,000 gift voucher on spending Rs 50,000 or more
- Rs 500 gift voucher on spending Rs 15,000 or more
Note that if you are holding HSBC Platinum Credit Card, in addition to this offer, you’ll also get BookMyShow voucher worth Rs. 500 on spending Rs. 50,000 or more in a month. For HSBC Smart Value Credit Card, you’ll get Rs. 200 BookMyShow voucher on spending Rs. 15,000 or more in a month.
Bottomline
HSBC has become really aggressive recently and has been pushing out many offers for their card members. Talking about this offer, HSBC Bank has clubbed three offers together in this “New Year Offer”. Though the first monthly offer is applicable for only those who received the communication, remaining two are available to all card members.
One thing to note here is that eligibility of cardmembers’ to first two offers is considered only from the month onwards in which he/she registers. However a cardholder registering for any of the months (i.e. anytime between Offer Period), would be eligible for the bumper prize and spend across all three months would be considered. Below table summarizes the same:
| Registration month | Eligibility month for Offer 1 and Offer 2 | Bumper prize eligibility | ||
| January 2020 | February 2020 | March 2020 | ||
| January 2020 | YES | YES | YES | YES |
| February 2020 | NO | YES | YES | YES |
| March 2020 | NO | NO | YES | YES |
I didn’t receive Offer 1 on my HSBC Platinum Visa Credit Card. However I registered for Offer 2 and Bumper Prize by sending SMS and I got following message as acknowledgement:
HSBC: Congratulations on a successful registration! You are now on your way to attractive cashback benefits, gift vouchers of your choice and a chance to win an international holiday package. Shopping, dining and traveling in 2020 become even more grand with your HSBC Credit Card. Click https://hsbc.co.in/offers to know about other exciting offers that will add to your celebrations!
Though this offer is decent, I would be giving it a pass as I didn’t receive the targeted offer. Without targeted offer, the reward rate is just 2.5% (2% cashback + 0.5% BookMyShow voucher), that too on a minimum spending of Rs. 1 Lakh. I would continue to use my HDFC Diners Club Black Credit Card which gives me not only 3.3% default reward rate, but also monthly milestone benefits, pushing overall reward rate to 4.55%.
With targeted offer the overall reward rates pushes to 3.5% (considering Rs. 1,000 gift voucher + 2% cashback + 0.5% BookMyShow voucher) on spends of Rs. 1 Lakh which is quite great. If you received the targeted offer and would be able to spend at-least Rs. 1 Lakh in a month, go for it blindly.
Did you receive this targeted offer from HSBC Bank? What your spend target looks like? Let me know by leaving a quick comment below.
