HSBC has launched its Diwali spend-based promotion for 2019, closely resembling last year’s program with a few changes. The bank is running two parallel components: one rewards customers based on their total spending, and the other relies on a luck-based element. Below are the details of the offer and what it means for cardholders.
Offer Details:
Bottomline
Under the spend-based tier, customers who reach a cumulative spend of ₹2.5 lakh can expect roughly a 2.8% return on their expenditures, which is a competitive reward rate from HSBC. The luck-based component can deliver even higher value: customers who qualify as one of the top five spenders or who are among the first ten to reach a ₹1 lakh threshold may receive significantly greater returns.
However, caution is warranted with these “bumper” or top-spender promotions. Past campaigns from other banks have shown inconsistencies in fulfilment, and there were reports in 2018 where even substantial spenders did not receive the advertised bonuses in similar programs. That history makes some cardholders skeptical about relying solely on these promotions when planning their spending.
Given that uncertainty, some customers prefer to avoid chasing bumper targets and instead focus on consistent, reliably redeemable rewards. Others may still participate, accepting the risk for a chance at a larger payout.
What’s your view on the 2019 HSBC Diwali spend-based promotion — pleased or disappointed? Share your thoughts in the comments below.