Earn up to 5% Cash Rebate | Instant Activation*
Lets you earn both cashback and miles at the same time, but you need to spend consistently (min. $600 a month) to get cashback. Cash rebates are on groceries, dining, and petrol.
5%
Cash Back on Dining, Groceries, Petrol
S$250
Cash Rebate Cap per quarter
S$600
Min. spend monthly in a calendar quarter
MoneySmart Exclusive

Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or an Apple AirPods 3rd Gen + S$50 Cash (worth S$313.80) or a Lenovo Tab M10 Gen 3 (worth S$299.01) when you apply and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month. T&Cs apply.

Valid until 14 Apr 2024 - See more details below

Are you eligible?

    • Promotion is valid from 01-April-2024 to 14-April-2024

    • Applicable for New-to HSBC cardholders only.

    • Customers need to apply through MoneySmart to be eligible

    • Applicants need to provide HSBC their consent to receive marketing and promotional materials from HSBC at the time of submitting their application.

What you need to know

  1. Log into your MoneySmart account and submit your claim by 14th May 2024

  2. Gift Options: Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) an Apple AirPods 3rd Gen + S$50 Cash (worth S$313.80) or a Lenovo Tab M10 Gen 3 (worth S$299.01)

  3. Please note that gifts will typically be fulfilled approximately 5 months after the end of the campaign month (30 April 2024).

  4. MoneySmart exclusive rewards do not stack with external or third party promotions unless otherwise stated. See T&Cs for details.

  5. *Instantly Activate Your Virtual Card for Google Pay and Apple Pay Shopping! T&Cs apply.

T&Cs
FAQ
Claim Form

Quick Facts

Get the maximum value by

If you are not confident of hitting the minimum spend every month without fail, go for the lower maintenance cards

Good for

Families / individuals who spend in general categories and who consistently spend at least $600 a month

Categories to maximise this card

Local dining, groceries and petrol

What people use it for

Families and daily spending

Get if

You are looking for an all-purpose family-friendly card, you spend consistently $600 or more every month.

All Details

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HSBC Visa Platinum Credit Card Review 2024

Renowned for its dual benefits of simultaneous cashback and miles accumulation, the HSBC Visa Platinum credit card stands out among the array of credit cards favoured by families and individuals alike.

This credit card is particularly appealing to those who frequently purchase necessities such as groceries, dining, and transportation, and requires a relatively low minimum monthly expenditure of $600 to qualify for cashback rewards.

If you’re still thinking about whether to get the HSBC Visa Platinum credit card, let’s consider the requirements, pros and cons and other related factors before you come to a final decision.

Pros & Cons

Pros

  • 5% cash rebate on local dining and groceries (food deliveries and online groceries included). min. spending of S$600 monthly in a calendar quarter to earn 5% cash rebate.
  • Up to 21.15% fuel savings at Caltex and Shell
  • 1X Reward point per dollar spent
  • Annual fee waiver available
  • Exclusive access to over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel via HSBC ENTERTAINER with HSBC Singapore mobile app
  • Interest rate of 26.90%, which is lower than some cashback credit cards (as per MoneySmart's Credit Cards comparison tool

Cons

  • The cash rebate benefit is capped at S$250 per quarter
  • A minimum spending of S$600 monthly in a calendar quarter is required to earn the 5% cash rebate
  • Charges annual fee after the first year unlike other cashback credit cards like CIMB Visa Infinite Card and Standard Chartered Smart Credit Card which offer no annual fee charges for lifetime

Compare HSBC Visa Platinum Card vs. Citi Cash Back + Card vs. SCB Simply Cash Credit Card

The HSBC Visa Platinum card offers the highest cashback for dining and groceries (5%), but has the highest annual fee and income requirement, while the Citi Cash Back + card is more versatile with 1.6% cashback on all spending, but requires a minimum monthly spend for bonus categories. SCB Simply Cash card offers the lowest - 1.5% cashback on all spending with no minimum spend requirement, and lacks travel insurance (like HSBC Visa Platinum) and bonus categories.

HSBC Visa Platinum Card

Interest rate: From 26.90%

Annual fee:$196.20 (waiver available only upon fulfilled minimum spend requirement)

Minimum annual income:

  • $30,000-$40,000 for Singaporeans and PRs
  • $40,000 for foreigners

  • Cashback benefits:
  • 5% cash rebate on local dining and groceries (food deliveries and online groceries included). min. spending of S$600 monthly in a calendar quarter to earn 5% cash rebate.
  • Up to 21.15% fuel savings at Caltex and Shell
  • 1X Reward point per dollar spent
  • Annual fee waiver available
  • Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel
  • Citi Cash Back + Card

    Interest rate: From 27.90%

    Annual fee:$196.20 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $42,000 for foreigners

  • Cashback benefits:
  • 1.6% cash back on eligible spend all year round
  • No minimum spend required and no cap on cash back earned
  • No expiry for cash back earned
  • Earn 0.4% Bonus Cash Back on eligible spend (only valid for Citi Plus customers who are Primary Account Holders of a Citi Interest Booster Account
  • Up to S$1 million coverage for purchases of travel tickets
  • SCB Simply Cash Card

    Interest rate: From 27.90%

    Annual fee:$196.20 for (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $60,000 for foreigners

  • Cashback benefits:
  • 1.5% cashback on all eligible purchases
  • S$588 cashback within 30 days of card approval
  • $80 cashback referral reward
  • No minimum spend requirement
  • Up to 23.7% fuel savings at Caltex
  • Tips On Maximising Both Cashback & Air Miles

    Earning both cashback and miles simultaneously is an attractive proposition for many “deals chasers” or individuals looking to maximise their rewards. Here's how you can potentially achieve this.

    Choosing the preferred reward types

    Ensure that the card you choose aligns with your spending habits, preference for dual rewards or have partnerships with certain type of airlines (which are your preferred types) to offer miles and rewards on categories like groceries, dining, and petrol.

    Consistent spending

    To qualify for cashback rewards, you typically need to spend consistently, usually meeting a minimum spending threshold each month. In this case, it's a minimum of $600 a month if you're considering being a HSBC Visa Platinum credit card holder. Make sure you use your credit card for eligible purchases within these categories to meet this threshold.

    Cashback rebates to offset expenses

    Cashback rewards are usually credited back to your account either as a statement credit or a direct deposit into your bank account. Since your cash rebates are on groceries, dining, and petrol, ensure that you primarily use your credit card for these expenses to maximise your cashback earnings.

    Earning miles to redeem flights

    Concurrently, you'll be earning miles for every dollar you spend on your credit card. These miles can often be redeemed for flights, hotel stays, or other travel-related expenses. For example, if you prefer to fly on a specific airline regularly, let's say it's Singapore Airlines, you'll be able to use credit cards like HSBC Visa Platinum, to consistently rack up miles and upgrade your KrisFlyer status for all your travel needs such as a redemption for a one-way flight or return trip.

    Managing expenses

    Ensure you consistently meet the spending threshold for cashback rewards, it's essential to manage your expenses wisely. Keep track of your spending, budget effectively, and plan your purchases to align with the categories that offer cashback rewards.

    Payment discipline

    Lastly, always pay your credit card bill on time and in full to avoid incurring interest charges. Carrying a balance can negate the benefits of any rewards earned and lead to additional costs over time.

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    HSBC Visa Platinum Credit Card Application

    Here are 3 simple steps to apply for the HSBC Visa Platinum Credit Card

    Step 1

    Apply via MoneySmart’s credit cards page

    You may begin your application by clicking on our HSBC Visa Platinum Credit Card application link. When you choose to apply online or through the HSBC mobile app and via SingPass MyInfo, HSBC will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

    Step 2

    Provide all documentation required

    You’ll need to provide all the necessary documentation in order for HSBC to approve your credit card application. This list of documents include:

    • NRIC or other identification details
    • Latest computerised payslip
    • Latest 12 months’ CPF Contribution History Statement)
    • Latest Income Tax Notice of Assessment (NOA)

    Step 3

    Receive your HSBC Visa Platinum Credit Card

    You’ll be able to activate your HSBC Visa Platinum Card instantly through the HSBC mobile app, and enter a One-Time Password (OTP) after keying in your 6-digit Online Banking PIN to secure all your credit card transactions. Thereafter, it’s ready for you to use on any of your purchases and you can track your cashback rewards and accumulated air miles with your HSBC mobile app!

    Frequently Asked Questions

    Are there any fees if I apply for the HSBC Visa Platinum Credit Card?

    HSBC Visa Platinum credit card charges an initial annual fee of $196.20 (with waiver available), and other fees like supplementary card annual fee, late payment fee, minimum monthly payment, foreign currency transaction fee, cash advance transaction fee, overlimit fee.

    Am I eligible for the HSBC Visa Platinum Credit Card?

    If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the HSBC Visa Platinum Credit Card, as long as you’re aged 21 and above, and earn a minimum annual income of $30,000-$40,000 (for Singaporeans and PRs) or $40,000 (for foreigners).