HSBC and Indian Hotels have unveiled their super-premium co-brand credit card, the HSBC Taj Credit Card. The HSBC Taj Credit Card is supposed to be an invite-only card with an annual fee of a whopping 1,10,000+GST. Here is a detailed review of this credit card.
HSBC Taj Credit Card
Features
Annual Fees:
- 1,10,000+ GST i.e. a total of ~1,30,000 every year. There is no fee waiver criterion.
Rewards and Benefits:
Welcome/Annual Benefits
- One night stay with breakfast for two persons at Taj Palace Hotel, typically costs anywhere from 30k to 1lk.
- 2-night stay with breakfast for 2 persons at selected Taj Hotels (ex-Palace hotels). Typically, it costs 30-50k per night.
- 4 vouchers for set meals for two at participating restaurants
- NeuPass Taj InnerCircle Platinum Tier membership
Reward Points
- 5 reward points for every 100 spent on all purchases. 1.5 reward points = INR 1, thus a 1% reward rate.
- 5 reward points for every 100 spent at Taj property (excluding Tree of Life). A 3.3% reward rate.
Benefits at Taj/IHCL properties
- Complimentary Room Upgrades: Enjoy unlimited upgrades to the next room or suite category at select Taj and IHCL properties for stays of up to five consecutive nights. Max 20 nights a year.
- Special Rate Savings: Avail 25% off the Best Available Rate for rooms and suites at Taj Palaces, Safaris, and other participating hotels.
- Food & Beverage Discounts: Save 25% on dining, including Qmin delivery orders.
- Spa Indulgence: 60-minute spa session up to four times annually, with access to the sauna and steam room.
- Pool Access: complimentary swimming pool access for two, available 12 times a year.
- Taj Chambers Privileges: Gain entry to India’s premier executive business club 12 times a year.
- Taj Club Lounge: Enjoy up to 12 visits annually, complete with complimentary tea and coffee for two.
- Exclusive Events: Attend networking sessions featuring renowned speakers, masterclasses, and entertainment, complemented by gourmet cuisine and premium beverages.
- Celebratory Cake: Receive a special cake when dining at any participating restaurant during your birthday month.
- Evening Alcohol Hours: In-house guests can enjoy complimentary alcoholic beverages for two between 6:00 PM and 8:00 PM daily at select hotels.
Other benefits:
- Luxury Airport Transfers: Indulge in 4 chauffeured limousine rides annually, provided by Blacklane.
- Multiple partner discounts, details here. Few noteworthy are
- Starbucks: 50% off, up to four times a month (maximum discount ₹150 per transaction).
- Book My Show: Get 2-for-1 tickets for movies and live events (maximum ticket value ₹750 each).
- Lounge access – unlimited domestic and international lounge access
Thoughts on the HSBC Taj Credit Card
The HSBC Taj Credit Card appears to offer numerous benefits at first glance. However, a closer look at the fees raises the question: is it truly worth it? Below are my thoughts on the HSBC Taj Credit Card.
Stay and Dining Offers Just About Cover the Annual Fee
The HSBC Taj Credit Card provides a one-night stay at a Taj Palace Hotel and a two-night stay at selected Taj hotels (a detailed list of participating hotels can be found here). One can estimate the value of these stays as follows, a one-night stay at a Palace Hotel is likely worth around ₹50,000. A two-night stay at other Taj hotels is approximately ₹25,000 per night, totalling ₹50,000. Additionally, the four set meal vouchers for two people could be valued at ₹5,000 each, adding up to ₹20,000. Altogether, these benefits offer an approximate value of ₹1.2 lakh, just about covering the annual fee.
It’s worth noting that some Taj Palace Hotels charge upwards of ₹1 lakh per night, which would increase the value significantly. However, I assume most users would plan their stays to maximize this offer, making it unlikely that rates would be exceptionally high.
Luxury Airport Transfers Are Excellent
The inclusion of four luxury airport transfers is a thoughtful addition. This benefit covers both domestic and international locations where HSBC’s partner, Blacklane, operates. Thus for two international trips, this ensures seamless airport transfers.
The terms and conditions specify that each trip is covered up to $150, which is generous and should suffice for most locations.
Reward Rate Is Low, and Redemption Is Limited to Taj Hotels
This is where the HSBC Taj Credit Card falls short. The reward rate is a mere 1% on regular spending and 3.3% on spending at Taj properties. By comparison, even the SBI Cashback Credit Card offers a 1% reward rate on offline spending with an annual fee of just ₹1,000. Other premium cards like Amex Platinum, Amex Platinum Travel(Apply Now), HDFC Infinia(Apply Now), HDFC Diners Black(Apply Now), Axis Atlas(Apply Now), and Axis Magnus offer significantly better reward rates.
The low reward rate for Taj property spends is particularly disappointing. Moreover, since redemption is limited to Taj Hotels, HSBC could have justified this by offering at least a 2–3% reward rate on regular spending and 5% on Taj property spending.
No Exclusions on Spends, a positive
One positive aspect of the HSBC Taj Credit Card is the absence of excluded spending categories. No where in the T&Cs there is a mention of excluded spends categories. Thus I assume that wallet loads, rent payments, government payments, etc., earn the standard 1% reward rate without any caps.
NeuPass Taj InnerCircle Platinum Tier
Another advantage of the HSBC Taj Credit Card is that it grants you NeuPass Platinum tier status. This means spending at the Taj property earns 8 NeuCoins (equivalent to ₹8) for every ₹100 spent on the Tata Neu app. Combined with the 3.3% reward rate on the HSBC Taj credit card, this provides a total return of 11% on Taj spending.
While you are here, do check out my Tata HDFC Neu Credit Card(Apply Now) review, which I believe is one of the best RuPay credit cards available.
Conclusion
Overall, the HSBC Taj Credit Card seems like an overpriced offering. The three-night stay and four meal vouchers only just about cover the annual fee, effectively making you pay for the benefits yourself.
Except for the 4 airport transfers, other benefits are limited, and the reward rate is underwhelming. Therefore, for those seeking a premium credit card, I recommend considering alternatives such as Amex Platinum, Amex Platinum Travel(Apply Now), HDFC Infinia(Apply Now), HDFC Diners Black(Apply Now), Axis Atlas(Apply Now), and Axis Magnus, which provide better value for your money. Thus, the HSBC Taj Credit Card does not stand out for me.
What are your views about the HSBC Taj Credit Card? Do share them in the comments below.
Image courtesy: HSBC and Taj Hotels The article was published/last updated on 25th Dec 2024.
Disclaimer
In the interest of full disclosure, Credit Cardz may earn a referral bonus for anyone that’s approved through some of the links in this post. However, opinions and views expressed here are of the author's alone and not those of the bank, credit card issuer, or anyone else and have not been reviewed, approved or otherwise endorsed by any of these entities.
Isnt this a combination of Taj Epicure Privileged (here we get gold status vis-a-vis a platinum status with this card) + 1 stay at palace property. Rest there are certain addn benefits on card, which ideally one can get from HSBC Executive banking. LTF Tata neu infinite card offers better reward points considering gold status at IHCL hotels.