Quick Verdict

Side by Side

DetailHSBC Visa Platinum Credit CardⓘICICI HPCL Super Saver Credit Cardⓘ
Annual feeNil (lifetime free)Rs 500
Joining feeNil (lifetime free)Rs 500
Fee waiver on spendRs 1.50 lakh annually
Reward rate0.67% base; 2% dining1% base; 5% fuel, utilities, grocery
Reward typePointsPoints
Domestic loungeNone4 per year
International loungeNoneNone
Forex markup3.5%3.5%
Best suited forLifetime-free, first-card, dining, shoppingFuel, grocery, cashback, shopping, lounge

Rewards Compared

On a Rs 10,000 spend, the HSBC Visa Platinum Credit Cardⓘ earns Rs 67 back in points at its base rate. If you spend on dining, the return improves to Rs 200 per Rs 10,000, reflecting a 2% effective reward rate. This makes it a modestly rewarding card for dining and general shopping but without category diversity.

The ICICI HPCL Super Saver Credit Cardⓘ offers a higher base reward of Rs 100 per Rs 10,000 spent, which is 1%. More importantly, it delivers 5% rewards in fuel, utilities, and grocery categories, translating to Rs 500 back per Rs 10,000 spent in these segments. This makes it far more lucrative for essential and recurring expenses. The card’s category focus aligns well with everyday household spending, giving it a clear edge in rewards.

Fees Compared

The HSBC Visa Platinum Credit Cardⓘ has no joining or annual fees, making it cost-free to hold indefinitely. This suits those who want a no-strings-attached card with some rewards.

The ICICI HPCL Super Saver Credit Cardⓘ charges Rs 500 as joining and Rs 500 as annual fee. However, the annual fee is waived if you spend Rs 1.50 lakh annually, which breaks down to about Rs 12,500 per month. The card’s higher reward rate means you need to spend about Rs 50,000 annually at the base rate to cover the Rs 500 annual fee in rewards, but to justify the fee fully given the rate gap with HSBC, you would need to spend about Rs 1.52 lakh annually. If you meet the waiver threshold, the fees effectively become zero.

Which One Should You Pick

Choose the HSBC Visa Platinum Credit Cardⓘ if you want a completely free card with no joining or annual fees, and you primarily spend on dining and shopping without heavy fuel or grocery expenses. It is ideal as a first credit card or for someone who prefers simplicity and no fee liability.

Opt for the ICICI HPCL Super Saver Credit Cardⓘ if your spending is concentrated in fuel, groceries, and utilities, and you can comfortably meet the Rs 1.50 lakh annual spend to waive the fee. The added benefit of four domestic lounge visits per year also makes it attractive for frequent travelers who value lounge access. This card suits those looking for higher rewards and are willing to spend more to unlock fee waivers.

Skip the HSBC card if you want better rewards on fuel and grocery and lounge access. Skip the ICICI HPCL Super Saver card if you do not meet the spend waiver or want a no-fee card.

What to Check Before You Apply

  • Confirm if the 5% category rewards on ICICI HPCL Super Saver have caps or limits.
  • Check the actual redemption value of points as the cards use points, not direct cashback.
  • Understand the monthly spend needed to waive the ICICI HPCL Super Saver annual fee (Rs 12,500).
  • Note both cards have a 3.5% forex markup, which is high for foreign transactions.
  • Verify the domestic lounge access gates and any guest policies on ICICI HPCL Super Saver.

FAQ

What is the forex markup on these cards?+
Both cards charge a 3.5% forex markup on foreign currency transactions, which is standard but relatively high compared to some premium cards.
Can the annual fee on the ICICI HPCL Super Saver Credit Card be waived?+
Yes, the Rs 500 annual fee is waived if you spend Rs 1.50 lakh annually on the card, which breaks down to about Rs 12,500 per month.
Does the HSBC Visa Platinum Credit Card offer any lounge access?+
No, the HSBC Visa Platinum Credit Card does not provide any domestic or international lounge access.
Are there any welcome benefits on these cards?+
The HSBC card offers a ₹250 Amazon voucher on activation, while the ICICI HPCL Super Saver card gives 2,000 bonus reward points on paying the membership fee and spending Rs 5,000 within 45 days, plus Rs 100 cashback on the first fuel purchase via HP Pay app.
Which card is better for fuel purchases?+
The ICICI HPCL Super Saver Credit Card is better for fuel with a 5% reward rate, compared to no special fuel rewards on the HSBC Visa Platinum Credit Card.