The HSBC Credit Card is a no-frills credit card with a competitive rate and no annual fee. Unlike higher end gold or platinum card, the HSBC Credit Card focuses on keeping the fees and other costs of ownership low by forgoing rewards and other perks. However, that doesn’t mean that the HSBC Credit Card is wholly without enticing extras you do get access to discounts and special benefits through HSBC’s Home and Away Privilege Program, which gets you instant discounts at certain retailers, airlines and restaurants.
Highlights of the HSBC Credit Card:
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
0% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
17.99% p.a. |
| Annual Fee | |
$0 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.99% p.a. |
| Card Type | |
Standard |
| Minimum Income Requirement | |
$20,000 p.a. |
| Credit Card Type | |
Visa |
| Rewards Program | |
No |
HSBC offers several promotions and perks that make this an excellent entry-level card or a second credit card. The $0 annual fee is a welcome novelty, especially as other cards are imposing higher and higher annual fees (some up to $199 a year). The interest rate on purchases is fairly competitive as well, with the interest rate on cash advances being pretty standard.
Also for a limited time, your transferred balances will accrue , which makes this a good choice for consolidating credit card debt or moving high interest debt. This alone could save you a significant sum of money.
While the HSBC Credit Card is admittedly barebones for the sake of low fees, you do get access to Home and Away, which gives you access to a host of local and overseas offers. You can get discounts from Captain Cook Cruises, Choice Hotels, Europcar, hundreds of stores and restaurants and scores of tourist attractions and historical sites.
Bottom-line: The HSBC Credit Card is affordable with a pretty decent interest rate. But in spite of being stripped down to the bare essentials, you still enjoy the discounts and perks that come with the HSBC Home and Away program.
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