Moneymax Reviews: Is HSBC Platinum Visa Rebate the Best Travel and Shopping Credit Card?

Welcome to the latest edition of Moneymax Reviews! In our previous HSBC Red Mastercard review, we noted how rewarding this credit card is. While it's an awesome card overall, you might want your credit card perks leveled up. Let's say you'll travel a lot now that restrictions have eased up in the Philippines and abroad—which brings us to an HSBC Platinum Visa credit card review.

Among HSBC's credit card offerings, the Platinum Visa Rebate card is touted as the "ultimate shopping and travel rebate card." Is this card really worth it? This HSBC Platinum Visa review will find that out and more.

HSBC Platinum Visa Credit Card Review: Key Features

First, let's check the basic features to see if you qualify for the HSBC Platinum Visa Rebate Card.

• Annual fee: ₱5,000 (free for the first year)
• Interest rate: 2%
• Minimum monthly income requirement: ₱41,666.67
• Cash advance fee: ₱200
• Late payment fee: ₱1,000 or the unpaid minimum amount due, whichever is lower
• Overlimit fee: ₱800
• Foreign transaction fee: 2.5% of the converted sum plus 1% assessment fee by Visa
• Card replacement fee: ₱400 per replacement of lost, stolen, or damaged card

Why Should I Get an HSBC Platinum Visa Rebate Card?

Earn Travel and Shopping Rebates Fast

With the HSBC Platinum Visa Rebate Card, you'll enjoy one of the highest cashback rates in the Philippines. You earn rebates fast with every purchase charged to your HSBC credit card—and earn faster for certain spending categories. And there's no required minimum spend to earn cashback!

Here's how to collect rebates using your HSBC Platinum Visa Rebate credit card:

• 5% rebate on shopping transactions, both in-store and online
• 5% rebate on essential travel spend
• 1% rebate on insurance transactions
• 0.50% rebate on all other spend

Pay for Big-Ticket Purchases at 0% Interest on Up to 36 Monthly Installments

HSBC credit cards, including the Platinum Visa Rebate Card, allow cardholders to convert straight purchases into more affordable installments of up to 36 months at zero interest. Installment transactions also earn 3x bonus points. This installment plan^[2] applies to appliances, gadgets, furniture, and other big-ticket items.

Read more: HSBC Credit Card Application: A Guide for First Timers

What Perks Can I Enjoy with My HSBC Platinum Visa Rebate Card?

📌 No Annual Fee for Life

Here's another exciting reason to own an HSBC Platinum Visa Rebate this year: you'll enjoy free annual fee for life if you apply for it as your first HSBC credit card and meet the required minimum spend of ₱200,000 every year.

📌 Free Purchase Protect Insurance Coverage

The HSBC Platinum Visa credit card comes with free purchase protection insurance coverage.^[3] This covers accidental damage and/or theft of eligible items purchased using a qualified HSBC credit card up to 90 days from the transaction date. It also includes an accidental death benefit of up to ₱10,000 per year.

📌 Caltex Fuel Rebates and Rewards

Like other HSBC credit cards, the Platinum Visa lets you earn a 3% rebate on your fuel purchases at participating Caltex stations nationwide all year round. Your first Caltex transaction will earn a 6% rebate.

On top of rebates, your Caltex fuel purchases using the HSBC Platinum Visa Rebate Card also earns rewards points.

Did this HSBC Platinum Visa review convince you yet? Check out this quick rundown of features.

Read more: Catch These HSBC Credit Card Promos in the Philippines This 2022

HSBC Platinum Visa Rebate Card Alternatives

To determine the best travel credit card for you, shop around and compare the available options first. Now that you know what you'll get from HSBC with this HSBC Platinum Visa review, you might want to check out other travel credit cards that could match your needs and preferences.

Air Miles Cards with Free Airport Lounge Access

Citi PremierMiles Card

Another travel card worth considering is the Citi PremierMiles Card. For every ₱30 spend, you earn 1 mile that never expires. Use your earned miles to avail of lounge access at domestic and international airports.

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

RCBC Visa Platinum

With the RCBC Visa Platinum, you can earn 1 mile for as low as ₱25 spent abroad or ₱48 spent locally. You also enjoy free access to 1,300+ VIP airport lounges worldwide, as well as unlimited access to the Skyview Airport Lounge and The Club Manila Lounge.

Metrobank Travel Platinum Visa

The Metrobank Travel Platinum Visa lets you earn 1 mile per only ₱17 spent abroad and on flights and hotel stays. It also provides free access to over 950 airport lounges worldwide.

No Annual Fee Travel Credit Cards

AUB Platinum Mastercard

If saving money on credit card fees is your priority, the AUB Platinum Mastercard is the ideal choice. No need to pay an annual fee for life. You can even set your own credit card payment due date to ensure you pay your bills consistently on time.

EastWest Priority Visa Infinite

The EastWest Priority Visa Infinite offers no annual fee for life and great travel perks, like access to over 1,300 VIP airport lounges worldwide, a low foreign currency conversion fee of 1.70%, and free travel insurance coverage of up to ₱20 million.

Read more related articles:

• Best HSBC Credit Cards for Millennials in the Philippines
• Moneymax Reviews: 4x the Fun with HSBC Red Mastercard

Final Thoughts

With its slew of travel rewards and privileges, the HSBC Platinum Visa Rebate credit card ticks all the boxes for budget-conscious millennials who travel frequently. It's even more rewarding for those who love to shop and dine.

May this HSBC Platinum Visa credit card review help you decide on the right travel credit card for you. Stay tuned for the next edition of Moneymax Reviews!

Sources:

• ^[1] HSBC’s Platinum Rewards Catalogue
• ^[2] HSBC Card Instalment Plan
• ^[3] Free Purchase Protect Insurance Coverage with HSBC Platinum Visa Rebate Credit Card