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Frequently Asked Questions: HSBC Visa Platinum Cashback Credit Card

What is the cashback feature availed on the HSBC Cashback Credit Card?

The cashback is earned on monthly basis for domestic retail purchases made using the HSBC Cashback Credit Card.

The cashback will be earned subject to the spend categories specified in the table below:

Cashback categories

Cashback %

On Fuel spends in Egypt

3%

On Hypermarket spends in Egypt

2%

On all eligible domestic retail spend in Egypt

1%

The cashback will be earned subject to the spend categories specified in the table below:

Cashback categories

On Fuel spends in Egypt

Cashback %

3%

Cashback categories

On Hypermarket spends in Egypt

Cashback %

2%

Cashback categories

On all eligible domestic retail spend in Egypt

Cashback %

1%

The cashback earned per month is capped at EGP 200 on all the spend categories above. The cashback is earned per HSBC Cashback Credit Card account (covering both the primary and supplementary card(s) and not per customer. 

Please find below an illustration:

Transaction type Cashback category Amount spent (EGP) Cashback earned (%) Cashback earned (EGP) Cashback received (EGP)
Gas station Fuel 800 3% 24 24
Hypermarket Hypermarket 4000 2% 80 80
Utilities Domestic 1000 1% 10 10
School fees Domestic 5000 1% 50 50
Foreign currency transactions N/A 1000 0% 0 0
Online through a foreign merchant N/A 1000 0% 0 0
Online through a local merchant Domestic 2000 1% 20 20
Online through a local grocery Hypermarket 500 2% 10 10
Fashion outlet Domestic 3000 1% 30 6
Total
  18300   224 200

Please find below an illustration:

Transaction type Gas station
Cashback category Fuel
Amount spent (EGP) 800
Cashback earned (%) 3%
Cashback earned (EGP) 24
Cashback received (EGP) 24
Transaction type Hypermarket
Cashback category Hypermarket
Amount spent (EGP) 4000
Cashback earned (%) 2%
Cashback earned (EGP) 80
Cashback received (EGP) 80
Transaction type Utilities
Cashback category Domestic
Amount spent (EGP) 1000
Cashback earned (%) 1%
Cashback earned (EGP) 10
Cashback received (EGP) 10
Transaction type School fees
Cashback category Domestic
Amount spent (EGP) 5000
Cashback earned (%) 1%
Cashback earned (EGP) 50
Cashback received (EGP) 50
Transaction type Foreign currency transactions
Cashback category N/A
Amount spent (EGP) 1000
Cashback earned (%) 0%
Cashback earned (EGP) 0
Cashback received (EGP) 0
Transaction type Online through a foreign merchant
Cashback category N/A
Amount spent (EGP) 1000
Cashback earned (%) 0%
Cashback earned (EGP) 0
Cashback received (EGP) 0
Transaction type Online through a local merchant
Cashback category Domestic
Amount spent (EGP) 2000
Cashback earned (%) 1%
Cashback earned (EGP) 20
Cashback received (EGP) 20
Transaction type Online through a local grocery
Cashback category Hypermarket
Amount spent (EGP) 500
Cashback earned (%) 2%
Cashback earned (EGP) 10
Cashback received (EGP) 10
Transaction type Fashion outlet
Cashback category Domestic
Amount spent (EGP) 3000
Cashback earned (%) 1%
Cashback earned (EGP) 30
Cashback received (EGP) 6
Transaction type Total
Cashback category  
Amount spent (EGP) 18300
Cashback earned (%)  
Cashback earned (EGP) 224
Cashback received (EGP) 200

Based on the example above, the customer earned a cashback worth EGP 224 but only received the maximum cashback of EGP 200 credited to his HSBC Cashback Credit Card.

What are the main HSBC Cashback Credit Card features and benefits?

In addition to receiving an automatic cashback worth up to 3% on domestic purchases; HSBC Cashback Credit Card holders can enjoy the below features and benefits (My Rewards Points program is not available with the HSBC Cashback Credit Card): 

  • a variety of instalment plans including Cash Instalment Plan, Flexible Instalment Plan and Balance Transfer
  • free access to 25 worldwide airport lounges through LoungeKey access
  • over 9,000 ‘Buy 1 Get 1 Free’ offers on the HSBC Entertainer app in Egypt and abroad
  • a variety of discounts at selected merchants and exclusive Visa Platinum offers when using the HSBC Cashback Credit Card Instant free SMS messages on a local mobile phone
  • up to 4 free supplementary cards to share the HSBC Cashback Credit Card benefits with family members

What is the HSBC Cashback Credit Card minimum eligibility?

The HSBC Cashback Credit Card minimum gross monthly salary requirement is EGP 3,000.

In case of transfer from an HSBC Visa Platinum, Premier or Advance Mastercard Credit Card to an HSBC Cashback Credit Card, what happens to the Rewards Points already accumulated on the old card?

The My Rewards Points program is not available as one of the HSBC Cashback Credit Card features; therefore, in case of transfer to an HSBC Cashback Credit Card, the accumulated Rewards Points on the HSBC Visa Platinum, Premier or Advance Mastercard will not be transferred to the new HSBC Cashback Credit Card. However, the accumulated points on the old credit card will still be available on your Rewards Points account, and you can redeem them by logging into the My Rewards Points website.

What is the HSBC Cashback Credit Card issuance / annual fee?

The HSBC Cashback Credit Card issuance / annual fee is EGP 200 and will be deducted upon card issuance. The annual fee of EGP 200 will continue to apply irrespective to the annual volume of spend. Check the Schedule of Services and Tariffs on our website for details.

What are the other HSBC Cashback Credit Card pricing?

The HSBC Cashback Credit Card has a monthly interest rate of 2.95%. Check the Schedule of Services and Tariffs on our website for full product pricing.

What is the HSBC Cashback Credit Card limit range?

The limit range of the HSBC Cashback Credit Card is between EGP 3,000 and up to EGP 20,000, subject to policy rules, and is not subject to a limit increase above the maximum cap of EGP 20,000.

Can the cashback amount be credited to the card to offset any outstanding balance on my HSBC Cashback Credit Card?

Yes, the cashback amount credited to the HSBC Cashback Credit Card will offset against any outstanding balance. If the cashback amount is higher than the outstanding balance, then the surplus amount will remain on the HSBC Cashback Credit Card as a credit balance and it can be used for subsequent transactions.

Which spends qualify for the cashback?

Eligible domestic retail purchases made using the HSBC Cashback Credit Card will earn relevant cashback as specified in the cashback table above (in question no. 2). The cashback will be accrued from transactions made by both primary & supplementary HSBC Cashback Credit Cards.

Only retail purchases that have been posted to the card account within the statement cycle period will be eligible for cashback in that month. Please note the date the transaction is posted to the card account may be later than the actual transaction date. For example, if the statement cycle (i.e. when statement is generated) is on the 30th of the month and a purchase made on the 29th of the month is posted to the card account on the 1st of the following month, the cashback will only be accrued for this particular transaction in the next statement cycle.

Pre-authorizations on the HSBC Cashback Credit Card will not qualify for cashback unless the transaction is authorised and posted to the card account.

How will the domestic spend be identified?

The cashback will be earned on domestic purchases only based on the location of the acquirer, as per the below:

  • local currency transaction done in domestic acquirer = award cashback
  • local currency transaction done in foreign acquirer = not to award cashback
  • foreign currency transaction done in domestic acquirer = award cashback
  • foreign currency transaction done in foreign acquirer = not to award cashback

Can the HSBC Cashback Credit Card be used to carry international transactions?

Yes, the HSBC Cashback Credit Card can be used to for both domestic and international purchases; however, the cashback offer applies only on domestic purchases, with either physical retailers or online.

Which transactions will not qualify for the cashback?

The following transactions will not be eligible for earning cashback:

  • any foreign currency / overseas transactions
  • any Balance Transfer (BT)
  • cash Instalment Plan
  • quasi cash transactions (including but not limited to currency exchange)
  • all cash advances
  • finance and other fees and charges, including premiums for credit cover (if any)
  • credit card repayments
  • any credit transaction including, but not limited to, refunds or refund of disputed transactions
  • any unauthorized or fraudulent retail transaction
  • any other transactions determined by the Bank from time to time

When will the cashback be credited?

The eligible cashback amount will be automatically credited to the card account within the next statement period each month. For example, if a transaction took place (posted) on the credit card statement period ending 1 March, the eligible cashback amount will be credited to the card within the next statement period by 1 April.

The cashback amount will be credited after being rounded off up to 2 decimal places.

How can I keep track of the cashback amounts credited to my card?

You will receive an SMS on a monthly basis once the cashback is credited to your credit card e.g. “You have earned EGP 200 cashback credited to your card ending with xxxx. Please check your statement or logon to online banking for details. T&Cs apply.“

You can also check your HSBC Cashback Credit Card statement and view the cashback summary box.

What will happen to my accrued cashback if my card is closed mid-cycle?

Any cashback accrued for transactions posted to your HSBC Cashback Credit Card from the last statement date up to the date of closure will be credited to your card account within the next statement period and will be treated as a payment towards the outstanding balance. You will then have to clear any remaining balance before the HSBC Cashback Credit Card is closed as per normal practice.

Example:

In case of card closure on 20 December, then the transactions posted from 1 December until 20 December will have some cashback that will be posted to the card account within the next period beginning 1 January.

In case you choose to transfer the cashback card to any other type of credit card then any spend made after the last statement cycle will not be eligible for cashback.

How will any reversal to purchases affect my cashback?

The cashback credited for any retail transaction that is subsequently reversed will automatically be reversed from the total cashback amount eligible in the statement cycle when the reversal has been received.

In case of reversal, the negative cashback can be adjusted out of the accumulated cashback pool earned but not disbursed to you due to being above the cashback monthly cap of EGP 200 (if any).

For example – If you have earned cashback worth EGP 220 in a month and the maximum cashback allowed is EGP 200, then at the time of auto-disbursement only EGP 200 will be disbursed as cashback to the card. The remaining EGP 20 will get saved in a separate pool for future reversals. This pool will accumulate the cashback earned by you that is above the capping amount of EGP 200 and hence was not disbursed to you.

  • Example 1 - If the cashback earned on the reversed transaction is EGP 5 and the accumulated pool has a remaining cashback balance of EGP 20, then an adjustment will reduce the pool by EGP 5 thus making the pool balance EGP 15 (EGP 20 – EGP 5 = EGP 15).
  • Example 2 - If the cashback earned on the reversed transaction is EGP 25 and the accumulated pool has an accumulated remaining cashback balance of EGP 20 then an adjustment will reduce the pool by EGP 25 thus making the pool balance EGP -5 (EGP 20 – EGP 25 = EGP -5). For any future cashback, you need to earn more than EGP 5 cashback in order to cancel this accumulated negative cashback.
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