HSBC Cashback vs Citi Cashback Credit Card

Among credit cards in the cashback category, the HSBC Cashback Credit Card and Citi Bank Cashback Credit Cards stand out as highly popular choices. These cards, both reputable, present appealing cashback incentives for cardholders, coupled with diverse offers and advantages spanning dining, travel, and lifestyle expenditures.

The HSBC Cashback Credit Card particularly caters to those who prefer online transactions, offering a substantial cashback percentage on all online expenditures. Beyond cashback, it extends discounts for dining experiences at restaurants and when ordering meals through platforms like Zomato and Swiggy. Although the card incurs a renewal fee of Rs. 750, there’s no initial joining fee. Additionally, depending on your card usage, the renewal fee could potentially be waived.

In contrast, the Citi Bank Cashback Credit Card offers a respectable cashback percentage on your overall expenses. Furthermore, it offers boosted cashback rates tailored to certain categories such as movie tickets, utility bills, and telephone expenses. Furthermore, this card grants discounts on dining out and booking flight tickets. Accessing these benefits requires paying a Rs. 500 joining and renewal fee. Although both cards are cashback credit cards, they provide unique cashback offers based on your spending habits.

Features and Benefits of HSBC Cashback Credit Card and Citi Cashback Credit Card

HSBC Cashback Credit Card:

1. Tailored for individuals who are new to the world of credit cards, the HSBC Cashback Credit Card proves to be an excellent choice.
2. Enhanced reward points are earned for expenditures on dining, groceries, shopping, departmental stores, and movies.
3. Lacks luxurious perks such as airport lounge access due to its entry-level nature.
4. Joining and renewal fee: Rs. 750 + taxes.
5. Welcome gifts for a successful Rs. 1,000 transaction in the first month include:
   • Receive a 50% discount on your initial transaction through Google Pay, with savings capped at Rs. 100.
   • Rs. 500 Amazon gift voucher.
   • 3 meal vouchers or 3 complimentary domestic lounge accesses.
6. Buy one, get one free movie ticket on Saturdays via BookMyShow, capped at Rs. 250 for the complimentary ticket.
7. 15% dining discount at over 1000 restaurants across India.
8. 1.5% cashback on all online transactions (excluding wallet uploads).
9. 1% cashback on all other transactions, including fuel transactions.
10. 5% cashback (up to Rs. 250) on transactions over Rs. 1,000.
11. Cashback credited within 45 days of the card’s statement date.

Citi Cashback Credit Card:

1. Citi Bank’s Cashback Credit Card offers attractive deals for regular spending and accelerated cashback in specific categories.
2. Cashback is automatically adjusted against the credit card bill.
3. Joining fee: Rs. 500 + taxes.
4. Accelerated cashback of 5% on booking movie tickets (capped at Rs. 100 per month).
5. 5% cashback on movie ticket purchases and phone bill payments.
6. 5% cashback on utility bill payments through Citibank Online Bill Pay.
7. Up to 20% off on dining bills at participating hotels across India.
8. 30% cashback on Zomato and Swiggy food orders.
9. Up to 15% cashback at duty-free stores and 10% on MakeMyTrip flights and hotel bookings.
10. Fuel surcharge waiver of up to 1% at all Indian Oil outlets for transactions over Rs. 10.
11. Cashback automatically adjusted against the credit card statement balance in multiples of Rs. 500.

Comparison between HSBC Cashback Credit Card and Citi Cashback Credit Card

HSBC Cashback Credit Card:

• Reward Rate:
  • 1.5% cashback on all online spends (excluding wallet uploads).
  • 1% cashback on all other types of spends.
  • 5% cashback on telephone and utility bill payments and movie ticket bookings.
  • 0.5% cashback on all other spends.
• Reward Redemption:
  • Cashback credited within 45 days of the card statement date.
  • Automatically adjusted against the credit card’s statement balance in multiples of Rs. 500.
• Fuel Surcharge Waiver:
  • 1% at all fuel stations.
  • 1% at all IOCL fuel stations (welcome benefit).
• e Benefits:
  • On a Rs. 1,000 transaction, receive:
    • You have the option of choosing either three meal vouchers or three passes for accessing domestic lounges.
    • Amazon gift vouchers worth Rs. 500.
    • Enjoy a 50% discount, with a maximum cap of Rs. 100, when making your initial transaction through Google Pay.
• Dining Benefits:
  • 15% off on dining bills across 1000 restaurants in India.
• Fees:
  • Joining Fee: NIL.
  • Renewal Fees: Rs. 750 + Taxes (waivable upon spending over Rs. 1,00,000 in a year).
• Eligibility:
  • Issued to salaried and self-employed individuals.
  • Age: 18 to 65 years.
  • Minimum annual income: Rs. 4,00,000.
  • Residence must be in one of the following cities: Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, New Delhi, Noida, or Pune.

Citi Cashback Credit Card:

• Reward Rate:
  • 1% cashback on all online and other types of spends.
  • 5% cashback on telephone and utility bill payments and movie ticket bookings.
  • 0.5% cashback on all other spends.
• Reward Redemption:
  • Not specified.
• Fuel Surcharge Waiver:
  • Not specified.
• e Benefits:
  • Not available.
• Dining Benefits:
  • 20% off on dining bills across participating restaurants.
• Fees:
  • Joining Fee: Rs. 500 + Taxes.
  • Renewal Fees: Rs. 500 + Taxes.
• Eligibility:
  • Issued to salaried and self-employed individuals.
  • Age: 23 to 60 years.
  • Stable income and decent credit score required.

Which credit card suits you best?

1. HSBC Cashback Credit Card and Citi Cashback Credit Card are both suitable for newcomers seeking cashback rewards.
2. Each card offers cashback benefits and provides discounts for travel, lifestyle, and dining experiences.
3. Affordable fees are associated with both cards in relation to the cashback benefits they offer.
4. The HSBC Cashback Credit Card sets itself apart by offering unlimited cashback, unlike the Citi Cashback Credit Card which restricts monthly cashback to Rs. 100 per category.
5. The Citi Cashback Card provides a superior reward rate specifically tailored for payments related to utilities and telephone bills.
6. The decision between the two options relies entirely on what the customer requires and how they typically spend their money.

Frequently Asked Questions (FAQs)

Q1: What distinguishes the HSBC Cashback Credit Card and the Citi Cashback Credit Card?

A1: Both cards offer cashback rewards along with perks for travel, lifestyle, and dining. They’re known for their reasonable fees considering the cashback benefits they offer.

Q2: How do the cashback limits vary between HSBC and Citi Cashback Credit Cards?

A2: While HSBC Cashback Credit Card has no maximum cashback limit, Citi Cashback Credit Card restricts monthly cashback to Rs. 100 per category.

Q3: Do these credit cards provide any additional perks?

A3: Yes, both cards offer extra benefits. Notably, the Citi Cashback Card stands out with a higher reward rate on utility and telecommunication bills.

Q4: What should I consider when deciding between these two credit cards?

A4: Take into account your spending patterns, whether you prefer unlimited cashback, and the specific categories where you desire higher reward rates to make a well-informed choice.

Q5: Are these credit cards usable for international transactions?

A5: Yes, both HSBC and Citi Cashback Credit Cards are generally accepted for international transactions. However, it’s wise to verify any specific terms or conditions with the respective banks.

Q6: How can I apply for either the HSBC or Citi Cashback Credit Card?

A6: You can apply for these credit cards online via the official websites of HSBC and Citibank. Complete the application form, provide necessary documents, and follow the bank’s application procedure.

Q7: Do these credit cards come with annual fees?

A7: Annual fee details may change, so it’s best to check the latest information on the official websites of HSBC and Citibank. Historically, both cards have had reasonable fees relative to their cashback benefits.

Q8: Can I possess both the HSBC Cashback Credit Card and the Citi Cashback Credit Card simultaneously?

A8: Generally, it’s possible to hold multiple credit cards from different banks, subject to approval based on your creditworthiness and each bank’s policies. Refer to the respective banks for their terms and conditions.