Smart savings and rewards for everyday spending
3X Reward Points on online, dining & telecom
₹0 Annual fee (Lifetime Free)
Multiple offers worth ₹3,000+
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| Benefit | Details |
|---|---|
| 3X Reward Points | Earn 3X reward points on all spends on online, dining and telecom categories (capped at 1,000 incremental reward points per month). |
| Zero Annual Fee | No joining fee and no annual fee - completely free for the lifetime of the card. |
| Dynamic Interest Rate | Interest rates starting from 3.49% per month (41.88% annually) and can go down to 1.99% per month (23.88% annually) based on credit behaviour. |
| Welcome Benefits Package | Receive Amazon vouchers, Google Pay discounts, airport lounge access, cashback, and low-interest EMI options on card issuance. |
| Attribute | Classification |
|---|---|
| Issuer / Provider | HSBC Bank |
| Bank / Non-bank | Bank-affiliated |
| Category | Entry-Level Rewards Card |
| Type of Card | Visa/Mastercard Credit Card |
| Free or Paid | Free (No joining or annual fee) |
The HSBC Smart Value Credit Card is designed for individuals seeking a no-frills, entry-level credit card that offers decent rewards without any annual fee burden. It's particularly suitable for first-time credit card users, young professionals, and anyone who wants to build their credit history while earning rewards on everyday spending. With 3X reward points on popular categories like online shopping, dining, and telecom, plus multiple welcome benefits, this card delivers solid value without the typical costs associated with credit cards.
Important Note: This card is no longer available for new customers as HSBC has discontinued issuing it. The information below is for existing cardholders and reference purposes only.
Zero-Cost Ownership: The HSBC Smart Value Credit Card stands out with its lifetime free structure - no joining fee and no annual fee whatsoever. This makes it an excellent choice for those who want credit card benefits without ongoing costs.
3X Accelerated Rewards: Earn triple reward points (3X) on spending in three high-frequency categories - online purchases, dining, and telecom bills. Regular spends earn 1 reward point per ₹100, making every transaction rewarding.
Comprehensive Welcome Package: New cardholders (issued between January-June 2022) received an attractive welcome package including a ₹1,500 Amazon voucher, Google Pay discount, airport lounge access or meal vouchers, cashback opportunities, and special low-interest EMI rates for the first 90 days.
Dynamic Interest Pricing: Unlike fixed-rate cards, the Smart Value Card features a dynamic APR that adjusts based on your credit behaviour and repayment history. Responsible users can see their interest rate drop from 3.49% to as low as 1.99% per month.
Flexible EMI Options: Convert large purchases into easy EMIs through multiple facilities - Balance Transfer on EMI, Cash-on-EMI, and Loan-on-Phone, all at competitive rates.
Fuel Benefits: Save up to ₹3,000 annually on fuel surcharge waivers when you use your card at petrol pumps.
HSBC Lifestyle Offers: Access exclusive discounts and offers across travel, electronics, groceries, dining, entertainment, and e-commerce platforms through HSBC's partner network.
Easy Management: Manage your card seamlessly through HSBC's online banking platform, mobile app, and Google Pay integration for contactless payments.
The HSBC Smart Value Credit Card was positioned as HSBC's entry-level offering, providing essential credit card features with bonus rewards in key spending categories, making it ideal for those starting their credit journey or looking for a secondary card without fee obligations.
3X Reward Points on Select Categories
Earn 3X reward points on all spends in the following categories:
Online purchases (e-commerce websites and apps)
Dining (restaurants, cafes, food delivery platforms)
Telecom (mobile and DTH recharges, postpaid bills)
A maximum of 1,000 incremental reward points can be earned per calendar month in these categories.
1X Reward Points on Other Spends
Earn 1 reward point for every ₹100 spent on all other eligible retail purchases.
Minimum Transaction: No minimum transaction requirement to earn reward points.
Reward Points Validity: All reward points are valid for 2 years from the date they are credited to your account.
Reward points earned on your HSBC Smart Value Credit Card can be redeemed through the HSBC Rewards Catalogue:
Gift Vouchers: Redeem points for vouchers from popular brands like Amazon, Flipkart, Big Bazaar, PVR Cinemas, and more.
Products: Choose from electronics, home appliances, lifestyle products, and accessories available in the rewards catalogue.
Travel Benefits: Use reward points for flight bookings, hotel stays, or travel packages (subject to availability).
Redemption Process: Log in to HSBC Net Banking or contact HSBC customer care to redeem your reward points.
Cardholders who received cards issued between January 1, 2022, and June 30, 2022, were eligible for the following welcome benefits:
Amazon Voucher: Receive an Amazon gift voucher worth ₹1,500 upon card activation.
Google Pay Discount: Get 50% discount (up to ₹100) on your first transaction made via Google Pay.
Introductory Cashback: Earn 10% cashback (up to ₹1,000) after completing 5 transactions with a total spending of ₹5,000 within the first 60 days from card issuance. The cashback is credited within 60 days after the completion period.
Low-Interest EMI: Convert purchases to EMI at just 10.99% per annum for Balance Transfer on EMI, Cash-on-EMI, and Loan-on-Phone facilities availed within 90 days from the date of card issuance.
Airport Lounge Access: Choose between 3 complimentary domestic & international airport lounge visits OR 3 meal vouchers for airport restaurants in India.
Note: Welcome benefits were valid only for cards issued during the specified promotional period.
Save up to ₹3,000 annually on fuel surcharge waivers when you use your HSBC Smart Value Credit Card for fuel purchases at petrol pumps across India.
Balance Transfer on EMI: Transfer outstanding balances from other credit cards to your HSBC card and pay in convenient monthly instalments at competitive interest rates.
Cash-on-EMI: Convert your available credit limit into instant cash and repay in easy EMIs.
Loan-on-Phone: Convert eligible purchases into EMIs directly through the HSBC India Mobile Banking App at attractive interest rates.
Instant EMI: Convert high-value purchases into EMIs at the point of sale at select merchant outlets.
Enjoy exclusive discounts and offers with HSBC partner merchants across categories:
Travel bookings and holidays
Electronics and gadgets
Dining at restaurants
Entertainment and movie tickets
E-commerce platforms
Grocery shopping
Fashion and lifestyle products
Link your HSBC Smart Value Credit Card with Google Pay for:
Quick, secure contactless payments in stores
Seamless online checkout
Easy bill payments
Track spending directly in the Google Pay app
Reward points are not earned on the following transaction types:
Cash advances and cash withdrawals
Fuel purchases (though surcharge waiver applies)
EMI transactions
Balance transfers
Fees and charges
Insurance premium payments
Wallet loads and reloads
Disputed or reversed transactions
Fraudulent transactions
Disclaimer: The card features, benefits, application process, and other details mentioned above were accurate at the time this card was available, but may have changed. This card is no longer available for new applicants.
| Fee Type | Amount | Details |
|---|---|---|
| Joining Fee | ₹0 | No joining fee - card issued free of cost. |
| Annual Fee | ₹0 | No annual or renewal fee - lifetime free card. |
| Interest Rate (APR) | 1.99% - 3.49% per month (23.88% - 41.88% annually) | Dynamic rate based on credit profile and repayment behaviour. Lower rates for good credit behaviour. |
| Late Payment Charges | 100% of Minimum Payment Due (Min ₹250, Max ₹1,200) | Charged when payment is not made by the due date. |
| Overlimit Charges | 2.5% of overlimit amount (Min ₹500) | Charged when spending exceeds the assigned credit limit. |
| Foreign Currency Markup | 3.5% + GST | Applicable on all international transactions. |
| Cash Advance Fee | 2.5% of amount withdrawn (Min ₹500) | Charged on all cash withdrawals from ATMs or bank branches. |
| Cash Processing Fee | ₹100 per transaction | Charged when credit card bill is paid via cash at HSBC branches. |
| Cheque/ECS Return Charges | ₹500 per instance | Charged when payment cheque bounces or ECS/auto-debit fails. |
| Duplicate Statement Charges | ₹100 per statement | Charged for requesting physical duplicate statements. |
| Card Replacement Fee | ₹100 | Charged for issuing a replacement card (lost, stolen, or damaged). |
| Outstation Cheque Processing | ₹50 per cheque | Charged for processing cheques drawn on outstation banks. |
| Balance Transfer Processing Fee | 1% of transfer amount (Min ₹250) | Charged when transferring balance from other credit cards. |
| Goods & Services Tax (GST) | 18% | Applicable on most fees and charges as per government regulations. |
| Criteria | Details |
|---|---|
Age | Primary cardholder: 18 to 65 years |
Employment | Salaried or Self-employed individuals |
Citizenship | Must be a Resident of India |
Credit Score | Good to excellent CIBIL score (preferably 700+) recommended |
Income | Stable source of income required (specific limits not disclosed by bank) |
Existing Relationship | Available to both existing HSBC customers and new-to-bank applicants |
| Document Type | Details |
|---|---|
| Identity Proof (Any one) | Aadhaar Card, PAN Card (Mandatory), Passport, Driving License, Voter ID Card |
| Address Proof (Any one) | Aadhaar Card, Passport, Driving License, Voter ID Card, Recent utility bills (electricity, gas, telephone – not older than 3 months), Bank account statement (not older than 3 months) |
| Income Proof – Salaried (Any one) | Latest 3 months' salary slips, Form 16 for the latest financial year, Bank statements for the last 6 months showing salary credits, Employment certificate |
| Income Proof – Self-Employed (Any one) | Latest Income Tax Return (ITR) with computation, Audited financial statements for the last 2 years, Bank statements for the last 6 months, Business ownership proof, GST registration certificate (if applicable) |
| Other Mandatory Documents | PAN Card (Mandatory for all applicants), Recent passport-size photograph, Duly filled and signed credit card application form |
Important Notice: The HSBC Smart Value Credit Card is no longer available for new applicants. HSBC has discontinued issuing this card to new customers.
Check Eligibility - Visit the HSBC Bank website or nearest branch to verify if you meet the eligibility criteria for the card.
Fill Application Form - Complete the online application form on the HSBC website or obtain a physical form from an HSBC branch.
Submit Documents - Upload required documents online or submit physical copies at the branch, including identity proof, address proof, income proof, and PAN card.
Application Review - HSBC will verify your documents and assess your credit profile. This may take 7-10 working days. Once approved, your credit card will be dispatched to your registered address.
Approval & Card Dispatch - Once approved, your credit card will be dispatched to your registered address. Activation instructions will be provided with the card.
Card Activation - Activate your card by calling HSBC customer care or through online banking as per the instructions received.
| Usage Tips | Details |
|---|---|
Maximise 3X Rewards | Focus your spending on online purchases, dining, and telecom bills to earn 3X reward points. Track monthly caps to optimise rewards. |
Set Up Auto-Pay | Enable auto-debit for credit card bill payment to avoid late fees and maintain good credit score. |
Use Google Pay | Link your card with Google Pay for contactless payments, faster checkouts, and easy transaction tracking. |
Monitor Spending | Regularly check your account through HSBC net banking or mobile app to track expenses and stay within budget. |
Pay in Full | Always pay the full outstanding amount by the due date to avoid interest charges and maintain a low interest rate tier. |
Convert to EMI Smartly | Use EMI conversion for large purchases (above ₹10,000) to manage cash flow, but only when necessary. |
Track Reward Points | Monitor your reward points balance regularly through net banking and redeem them before they expire (2-year validity). |
Fuel Savings | Use the card for fuel purchases to avail surcharge waiver and maximise annual savings up to ₹3,000. |
Avoid Cash Advances | Cash withdrawals attract high fees and immediate interest - use only in emergencies. |
Update Contact Details | Keep your mobile number and email updated to receive transaction alerts and security notifications. |
Set Spending Limits | Request HSBC to set spending limits on your card to control expenses and prevent overspending. |
Utilise E-Statements | Opt for paperless e-statements to track spending history and contribute to environmental conservation. |
The HSBC Smart Value Credit Card is designed for users who want to maximize their credit card benefits effectively.
Disclaimer: The information provided on this page has been gathered from various reliable sources and is intended solely for general informational purposes. As details may change over time, we do not guarantee the accuracy or completeness of the content. Users are advised to verify the information with official or relevant sources before making any decisions or taking action.