HSBC RuPay Platinum Credit Card
The HSBC RuPay Platinum is the UPI-linked, lifetime-free entry to HSBC's card range — the RuPay sibling of the Visa Platinum. It earns a modest 2 reward points per ₹150 (~0.33%) that convert to airline miles and hotel loyalty points, links to any UPI app for credit-card rewards on PhonePe/GPay/Paytm, and runs on the JCB network for acceptance in 160+ countries. Its real pull is the package around the base rate: a fuel surcharge waiver worth up to ₹3,000 a year, plus rotating partner discounts — District by Zomato (10% on dining, buy-one-get-one cinema), Swiggy Instamart, Cleartrip, Paytm and an EazyDiner membership. There is no lounge access and the 3.5% forex rules it out for serious overseas spending, but at ₹0 forever it is a sensible no-cost UPI card to hold. Where the Visa Platinum leans on its Times Prime and Swiggy One memberships, this one leans on UPI convenience and the fuel/partner perks.
Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹250 in vouchers, points or cashback on card activation
1.33% on Other
2 reward points per ₹150 (~1.33 RP/₹100 — ~0.33% if cashed out, ~1.33% at the best-extractable 2:1 Accor ALL transfer ≈ ₹1/pt); the same partner table as the fee-charging HSBC cards, on a lifetime-free card
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹250/month
Movie Ticket Benefit
Buy-one-get-one movie tickets via District by Zomato (partner offer)
UPI Linked
Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | reward points | 1.33% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1%, cap ₹250 |
Perks & benefits
Estimated annual value beyond rewards — ~₹500/yr in total.
movie ticket ~ ₹500 /yr
Buy-one-get-one movie tickets via District by Zomato (partner offer)
Should you get it?
Best for: UPI-first user wanting a free credit card on RuPay, Anyone who wants a fuel surcharge waiver at zero cost, Existing HSBC customer wanting a no-fee RuPay card, Low-spend user who wants a free backup card
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Other ( 1.33% back).
✓ Pros
- Lifetime free — no annual fee ever
- UPI-linked — earn rewards paying via PhonePe/GPay/Paytm
- Fuel surcharge waiver worth up to ₹3,000/year
- Partner discounts — District by Zomato, Swiggy Instamart, Cleartrip, Paytm, EazyDiner
✕ Cons
- Low 0.33% base reward rate — not for reward maximisers
- No airport lounge access
- 3.5% forex markup — not for international transactions
- Partner discounts (District, Swiggy Instamart, Cleartrip) are promotional and can change
Eligibility & documents
Age
18 –65 years
Min. income
₹50,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / address proof
- Income proof (salary slips or ITR)
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Redeem reward points for vouchers, merchandise and statement credit via HSBC Rewards
🎁 Convert points to airline miles and hotel loyalty points
🎁 Earn rewards on UPI transactions via linked apps
What your HSBC Reward Points are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Standard redemption — the floor. HSBC points redeem best by transfer, not cash
Gift voucher catalogue Brand & e-gift vouchers
Airline / hotel transfer BEST The widest transfer menu of any Indian issuer — 20 partners (15 airlines, 5 hotels), no minimum and no cap. Premier and TravelOne convert at 1:1 on almost everything; Platinum and RuPay Platinum at roughly 2:1 — but NOT a uniform halving, United is 3:1. Best route is Accor ALL at 1:1 (≈₹2/pt), then Shangri-La: its 5:1 looks like the worst ratio here and returns ~₹1.28/pt, because a Shangri-La point is worth ~₹6.40. hsbc-taj is excluded — its points are a closed IHCL wallet that transfers nowhere.
✈ Transfer partners 🏨 Accor ALL ( 2:1 ) ✈ Singapore Airlines KrisFlyer ( 2:1 ) ✈ Qatar Airways Privilege Club (Avios) ( 2:1 ) ✈ Air India Maharaja Club ( 2:1 ) ✈ British Airways Executive Club (Avios) ( 2:1 ) ✈ Etihad Guest ( 2:1 ) ✈ United MileagePlus ( 3:1 ) 🏨 Marriott Bonvoy ( 2:1 ) ✈ Air France-KLM Flying Blue ( 2:1 ) ✈ Vietnam Airlines Lotusmiles ( 2:1 ) ✈ EVA Air Infinity MileageLands ( 2:1 ) ✈ Japan Airlines JAL Mileage Bank ( 2:1 ) ✈ Qantas Frequent Flyer ( 2:1 ) ✈ Thai Airways Royal Orchid Plus ( 2:1 ) ✈ Hainan Airlines Fortune Wings Club ( 4:1 ) ✈ Turkish Airlines Miles&Smiles ( 4:1 ) 🏨 IHG One Rewards ( 2:1 ) 🏨 Wyndham Rewards ( 2:1 ) 🏨 Shangri-La Circle ( 10:1 ) ✈ airasia rewards ( 1:2 ) Value your balance: HSBC Reward Points 🏨 Accor ALL ( 2:1 ) ₹ 10,000 🏨 Shangri-La Circle ( 10:1 ) ₹ 6,400 ✈ Singapore Airlines KrisFlyer ( 2:1 ) ₹ 5,000 ✈ Qatar Airways Privilege Club (Avios) ( 2:1 ) ₹ 5,000 ✈ Air India Maharaja Club ( 2:1 ) ₹ 5,000 ✈ British Airways Executive Club (Avios) ( 2:1 ) ₹ 5,000 ✈ Etihad Guest ( 2:1 ) ₹ 5,000 ✈ Air France-KLM Flying Blue ( 2:1 ) ₹ 5,000 vs. typical redemption ₹ 2,500 Direct transfers from this card only, ranked by what a point is worth in the destination programme — plus 12 more partners . Full calculator, every currency → The concern The base earn is poor (2 RP per ₹150) and there is no lounge access — the card''s value rests on the fuel waiver and partner discounts, which can change at renewal.
The bottom line
The earn rate alone doesn't impress, mirroring the Visa Platinum's weakness there — but the appeal lies elsewhere: no fee ever, UPI compatibility, and a genuinely worthwhile fuel surcharge waiver alongside the District, Swiggy and Cleartrip tie-ins. The case for holding it comes down to UPI convenience and free extras — pair it with a separate low-forex card when travelling, and it costs nothing to keep in rotation. Anyone who'd prioritize Times Prime and Swiggy One over UPI support and a fuel waiver would be better off with the Visa Platinum.
Sources & verification
Fees, reward rates, and benefits for the HSBC RuPay Platinum Credit Card are taken from HSBC 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 7 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for HSBC . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · 1 changes · last change Jul 2025
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2025 1 change — 1 neutral
◆ Launch Effective Jul 2025
HSBC launches its first RuPay credit cards
Lifetime-free RuPay Platinum on the JCB network, UPI-linked, 2 reward points per ₹150
HSBC India entered the domestic RuPay network for the first time with the RuPay Platinum (alongside the RuPay Cashback), a lifetime-free card that links to UPI apps like PhonePe, Google Pay and Paytm and earns 2 reward points per ₹150 that convert to airline miles and hotel points. It runs on the JCB network for overseas acceptance, with no lounge access and a 3.5% forex markup.
Verification: CardAdvisor Research · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: HSBC RuPay Platinum Credit Card value timeline — CardAdvisor
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Quick summary
Type Entry credit card
Reward rate 1.33%
Best for UPI-first user wanting a free credit card on RuPay
Joining fee Free
Annual fee Lifetime free
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 7 Aug 2026
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280 cards analysed — August 2026
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