As the festive season approaches, HSBC has launched a special Diwali offer for its credit card customers. Active from October 20th to December 20th, 2023, this year’s offer varies significantly from the 2022 edition.
Key Highlights of the 2023 Offer
The 2023 Diwali offer from HSBC has replaced guaranteed high-value gifts with a chance to win prizes based on spending during the offer period. Here are the main highlights:
The top spender stands a chance to win an Audi Q3 luxury car.
- Customers who spend Rs. 4 lakh or more in at least seven transactions may win an iPhone 15.
- Those who spend Rs. 2 lakh or above in a minimum of five transactions have a chance to win an Apple Watch SE.
- An assured reward of a Rs. 5,000 gift voucher is given for spending Rs. 5 lakh or more.
- Source: Email, Terms, and Conditions here
However, it’s important to note that insurance payments and wallet recharges do not count toward the eligible spending amount
Comparing the 2022 and 2023 Offers
The 2023 Diwali offer is quite different from the previous year’s offer. The 2022 offer included guaranteed gifts, while the 2023 offer relies on lucky draw prizes. Additionally, the return rate on the voucher is lower in 2023 compared to 2022. The highest spending requirement is also lower in 2023, set at Rs. 5 lakh compared to Rs. 10 lakhs in 2022.
What can you do?
Given the structure of the 2023 offer, customers are advised to approach it with caution. Here are some recommendations:
- Avoid overspending just to qualify for the offer.
- If it’s within your budget, aim for the Rs. 5 lakh spent to get the assured voucher.
- Optimize eligible spending and avoid non-eligible categories like insurance payments.
- Do not take loans or pay interest to fund extra spending.
- It’s normal to feel disappointed if you don’t win the lucky draws, but remember to evaluate whether the offer aligns with your financial situation before increasing your spending.
Conclusion
The HSBC Diwali Credit Card offer for 2023 does not guarantee prizes, unlike the previous year. While the potential rewards are attractive, customers should exercise financial prudence and not overspend just for the sake of qualifying for a prize. Remember, it’s always better to spend wisely and within your means.
