If you’ve been wondering about HSBC’s credit card offerings, we’re here to help! Whether you’re a social butterfly who love spending at local establishments or a newlywed couple trying to maximise every dollar you spend on your household, there’s surely a credit card for you. From cashback to miles or petrol discounts, plenty of perks await but of course, always do your research before signing up for a credit card.
Things to take note of include annual fee, minimum expenditure to waive the annual fee, minimum expenditure to gain the rewards you want, and spending categories if any. To help you choose, here’re some comparisons between three HSBC credit cards and an awesome promo at the end!
The HSBC Advance Credit Card is best for those who spend above $2,000 a month like married couples taking care of their household and want some sweet cashback. The best is that this card offers cashback based on the total amount you charge to the card per month and not on specific categories.
Now, for the numbers. The annual fee for the HSBC Advance Credit Card is $192.60 which is waived for the first year. After that, all you need to do to avoid paying the annual fee is to charge a minimum of $12,500 per year on the card.
To fully enjoy the perks and cashback of the HSBC Advance Credit Card, we highly recommend signing up to be a HSBC Advance member. This is because HSBC Advance members who spend above $2,000 per month enjoy 3.5% cashback, capped at $125 whereas non-members have a rate of 2.5%, capped at $70. HSBC Advance members who spend below $2,000 receives 2.5% cashback capped at $125 and non-members, 1.5% capped at $70.
To become a HSBC Advance account member, all you need to do is to maintain a total balance of $30,000 at HSBC whether in deposits, investments and/or insurance for at least six months. Put simply, we would sign up for a HSBC Advance account especially for the annual fee waiver, 3.5% cashback and no minimum spending!
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HSBC Visa Platinum
“Not another cashback card!” we hear you cry. Well, not all cashback credit cards are made the same and it’s important to choose one that best matches your spending and lifestyle. The HSBC Visa Platinum Credit Card is best suited for those who spend a lot on daily essentials like groceries and petrol.
Users can earn 5% cashback on groceries and petrol from Caltex and Shell with a minimum expenditure of $800 a month for one calendar quarter (three months). For card users who spend a minimum of $400 per month for the same amount of time enjoy 3% cashback.
This card’s superpower is definitely its petrol discounts. Cardholders can get up to 16% petrol discounts at Shell and Caltex and this is on top of the 3-5% cashback!
The card’s 2% cashback at restaurants is a nice touch but only if you meet the minimum spending requirement of $800 per month. If you spend between $400 and $799, the cashback is only 1% which also counts towards the cashback cap of $60 or $120 depending on your monthly expenditure.
The card’s annual fee is $180 but it’s waived for two years and it is pretty accessible as it requires the cardholder to have an annual salary of a minimum of $30,000.
With the emphasis on supporting local businesses, the HSBC Revolution Credit Card is the best bet for social butterflies who enjoy dining locally and those who love shopping online. This card is also pretty fuss-free without any minimum spending required to gain points.
For every $1 spent on local dining, entertainment and online shopping, users are rewarded with two miles and this is unlimited. In addition, online spending extends to travel bookings, recurring bills and transit payments (EZ-Link). However, do note that rewards from online transit top ups are limited to 400 miles per month.
Although travel seems to be out of the question at the moment, if you’ve got the travel bug and prefer to redeem your points for miles, they expire three years after they’re earned!
The HSBC Revolution Credit Card charges an annual fee of $160.50 which is waived for the first two years. Afterward, to waive the annual fee, cardholders will need to spend at least $12,500 annually which comes up to about $1,050 a month.
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After reading all of that, if you’ve already made your decision on which HSBC credit card would best suit your lifestyle, you’re in luck because we’ve got an awesome promo for you. Just choose the HSBC credit card you’d like to sign up for on our website! We’re giving away a $150 cash reward, a HSBC welcome gift which is either a Samsonite luggage worth $670 or $150 cashback, and $30 worth of Grab rides for a SingPass MyInfo application too.