Credit Cards are used for their compelling features such as travel benefits, dining offers, offers on Movie tickets, great reward rate, and much more. However, there is one simple feature that everyone looks for these days, which is the cashback feature. A cashback Credit card is one that offers cashback on all the transactions that are performed on a credit card. With such cards, one can instantly save on their purchases and are not rigid like Reward Points-based credit cards. There are plenty of credit cards out there that offer cashback on spends made with them. In this article, we are going to talk about two of the best cashback credit cards which are- the HSBC Cashback Credit Card and Axis Bank Ace Credit Card.
The HSBC Cashback Credit Card is one of the best credit cards launched by HSBC Bank. The card offers you up to 1.5% cashback on all spends and comes with amazing welcome benefits. One can also get great Entertainment as well as Dining Benefits with this card. With zero joining fee and a nominal renewal fee, the HSBC Cashback Credit Card is one of the best Credit Card in the market.
On the hand, the Axis Bank Ace Credit Card is a popular credit card offered by Axis Bank. The Ace card also carries a nominal annual fee and offers great cashback on spends made with it. With this card, cardholders can earn up to 5% cashback on transactions like bill payments, partner merchants, and all other purchases. Moreover, one can enjoy complimentary access to domestic lounges with an Ace Credit Card.
Both credit cards offer great cashback and benefits and therefore, in this article we are going to talk about these cards in detail and compare them on the basis of their features. Keep reading to know more.
HSBC Cashback Credit Card
The HSBC Cashback Credit Card, as the name suggests, is a cashback-based credit card that is popular for its awesome cashback on certain transactions. The card is issued at an annual fee of Rs. 750. It welcomes you with amazing benefits including vouchers from Amazon, Swiggy, Myntra, and Ajio. One can also enjoy SonyLIV 12-month membership as a welcome benefit. One can also maximize their savings with the monthly offers provided with the cashback credit card, where you can get offers on Amazon, EazyDiner, Blinkit, and many more. As far as the cashback benefits are concerned, cardholders can enjoy up to 1.5% cashback on all transactions made with the Cashback Credit Card by HSBC. Following are the detailed features of the HSBC Cashback Credit Card:
- The cardholder can receive the following mentioned benefits on spending Rs. 2,500 or more within 30 days of card issuance as welcome gifts:
– Amazon and Swiggy Vouchers worth Rs. 500 each.
– 5 Myntra Vouchers worth Rs. 300 each.
– 5 Ajio Vouchers worth Rs. 600 each.
– SonyLiv Subscription for 12 months.
– 3 complimentary domestic & international lounge access OR 3 meal vouchers.
- With this card, you get 1.5% cashback on all online transactions, and 1% on all other spends. Moreover, one can earn unlimited cashback with their HSBC Cashback Credit card.
- Get a 5% discount on spending Rs. 1,000 or above on Amazon. The maximum discount is capped at Rs. 250 per card per month. Note that this offer will not valid during the Amazon Great Indian Festival Sale.
- Enjoy a 30% instant discount (up to Rs. 600) on EazyDiner which is also valid per card and per month. The minimum transaction value to avail of this offer is Rs. 1,000.
- Get other monthly offers including a 10% discount up to Rs. 100 on Blinkit (max Rs. 300 per month) and a 10% discount up to Rs. 150 on PharmEasy.
- An Insurance Cover of Rs. 3 Lakh is also provided in case the card is used for fraudulent transactions.
- The annual fee of Rs. 750 can be waived on spending Rs. 1 Lakh or more in the previous year with your HSBC Cashback Credit Card.
Axis Bank Ace Credit Card
The Axis Bank Ace Credit Card is one of the most popular credit cards available in the Indian market. The card is known for its great cashback rate, and amazing benefits in shopping and for travel as well. The card is issued with a joining and an annual fee of Rs. 499 which too comes with a spend-based waiver. With this card, one can earn up to 5% cashback on spends made with it. Apart from that, the Ace card also offers benefits in dining as well, where the cardholders can enjoy up to a 20% discount on dining bills. Moreover, one can access domestic airport lounges multiple times in a year with the Ace credit card. To know more about the Axis Bank Ace Credit Card, refer to the following details:
- For every utility bill payment and DTH & mobile recharges via Google Pay, the card offers 5% cashback. Also, you get a 4% cashback on spends made on Zomato, Swiggy, and Ola and a 2% cashback on all other spends.
- The Ace Credit card comes with 4 complimentary Domestic airport lounge access which is provided every year.
- Enjoy up to 20% discount on dining bills at 4000 plus restaurants under the bank’s Dining Delights program.
- The joining fee of the Axis Bank Ace Credit card of Rs. 499 can be waived on spending Rs. 10,000 within 45 days of card activation. The annual fee of the card can also be waived if you spend Rs. 2 Lakh or more in the previous year.
- Get 1% fuel surcharge waiver on fuel transactions between Rs. 400 and Rs. 4,000. Note that the maximum waiver in a month is capped at Rs. 500.
Now as we understood both the cashback credit cards in detail, it’s time to understand the differences between the Axis Bank Ace Credit Card and HSBC Cashback Credit Card:
|Basis||HSBC Cashback Credit Card||Axis Bank Ace Credit Card|
1.5% cashback on all online transactions (except online wallet uploads).
1% cashback on all other spends.
5% cashback on bill payments and mobile recharges on Google Pay.
4% cashback on spends made on Swiggy, Zomato, and Ola.
2% cash back on all other purchases.
|Reward Redemption||Cashback earned is credited to the statement balance within 45 days.||Cashback earned is automatically credited to the statement balance.|
|Welcome Benefits||1-year SonyLiv Subscription3 complimentary domestic & international lounge access or 3 meal vouchers.Amazon and Swiggy Vouchers worth Rs. 500 each.5 Myntra (Rs. 300) and Ajio (Rs. 600) Vouchers||NA|
|Lounge Access||NA (only as a welcome benefit)||4 complimentary domestic airport lounge access every year.|
|Insurance Covers||Rs. 3 Lakh cover against fraudulent transactions.||NA|
|Dining Benefits||30% off up to Rs. 600 via EazyDiner for orders above Rs. 1,000 as a monthly benefit.||Up to 20% off on dining bills under the Dining Delights program.|
|Entertainment Benefits||Buy One get one movie ticket offers on BookMyShow every Saturday.||NA|
|Other Monthly Offers||
5% discount on spending Rs. 1,000 or above on Amazon.
10% discount up to Rs. 100 on Blinkit.
10% discount up to Rs. 150 on PharmEasy.
|Spend-Based Annual Fee Waiver||Annual fee waived on spending Rs. 1,00,000 in the previous year.||Annual fee waived on spending Rs. 2,00,000 in the previous year.|
|Joining Fee||Rs. 750 (Plus Applicable taxes)||Rs. 499 (Plus Applicable taxes)|
|Renewal Fee||Rs. 750 (Plus Applicable taxes)||Rs. 499 (Plus Applicable taxes)|
Both the HSBC Cashback and Axis Bank Ace Credit Cards offer lots of benefits apart from an amazing cashback rate. However, to make a decision between these two cards one must consider all the benefits and features that are associated with them. The HSBC Cashback credit card provides more benefits than the Ace Credit card. One can get lots of welcome benefits like SonyLiv Subscription, and vouchers from Myntra, Amazon, Ajio, and Swiggy. Moreover, the card provides access to domestic and international lounges as a welcome benefit. Also, the HSBC Cashback card provides tons of monthly offers from EazyDiner, Amazon, Blinkit, and many more.
On the other hand, the Ace Credit card by Axis Bank offers a good cashback rate and one can get cashback on Swiggy, Zomato, and Ola. Also the offers complimentary access to domestic lounges every year. Therefore, if you want a card that offers cashback on Swiggy and Zomato and offers you lounges access every year then you should go with the Axis Bank Ace Credit card. Otherwise, if you are looking for the features that the HSBC cashback card offers then you must go with the same. The decision lies in your spending behavior and your expectations.