HSBC Bank is a well-known and reputable financial institution that has a rich history dating back to the 19th century. With its diverse range of credit card offerings, HSBC has become a popular choice for individuals looking for low-maintenance, reward, and frequent flyer credit cards.
Apart from the benefits of using credit cards for purchases, HSBC credit cards offer many additional features that can be quite useful for consumers. This blog provides an overview of the different HSBC Bank credit cards available, along with their benefits and characteristics.
History of HSBC Bank
A British multinational holding corporation for universal banks and financial services, HSBC Holdings plc. With US$2.953 trillion in assets as of December 2021, it surpassed BNP Paribas to hold the title of the largest bank in Europe. Assets under custody (AUC) at HSBC were $10.8 trillion and assets under administration (AUA) were $4.9 trillion in 2021. (AUA).
The Hongkong and Shanghai Banking Corporation created HSBC in its current form in London to serve as a new group holding company in 1991; the name is derived from the letters of that organization. Shanghai branches of the Hongkong and Shanghai Banking Company were initially established in 1865, and the company was first formally constituted in 1866.
Almost 40 million customers are served by HSBC’s 64 offices spread in Africa, Asia, Oceania, Europe, North America, and South America. According to Forbes’ rankings of large corporations based on revenue, profits, assets, and market value as of 2022, it was rated no. 38 globally.
Low-maintenance credit cards
HSBC Platinum Credit Card – 0% Balance Transfer Offer
- Balance transfers are subject to 0% APR for 12 months plus a $29 reduction in the annual fee for the first year.
- 2% BT charge. $129 yearly cost after that. Applying T&Cs.
- Free domestic (including rental car insurance) and worldwide travel insurance.
- 2 lounge accesses annually.
HSBC Low Rate Credit Card
- No foreign transaction costs.
- Complimentary insurance for domestic travel.
- Acceptable with Google Pay & Apple Pay.
- No cost extra card holder.
- Excellent cheap interest rate.
Rewards credit cards
HSBC Star Alliance Credit Card
- Fast-track to Gold Status plus absolutely no annual charge
- Spend $1 and get 1 Star Alliance Point.
- Spend $4000 during the first 90 days to achieve Gold Status and benefit from additional priority travel benefits.
- After the first year, the annual charge is $450. Applying T&Cs.
HSBC Premier World Mastercard
- When HSBC Rewards Plus is chosen, there is no yearly cost.
- Get 1.5 HSBC Rewards Points on qualifying foreign purchases for every dollar spent, and 1 HSBC Rewards Point on eligible domestic purchases.
- Travel insurance for both domestic and international travel is included.
HSBC Platinum Qantas Credit Card
- Bonus Qantas Points of 20,000.
- Applying minimum spend. Up to $1,000 each month, earn 1 Qantas point for every dollar spent.
- Then, 0.5 Qantas Points.
- Totally free travel protection.
Characteristics and Advantages of HSBC Bank Credit Cards
In addition to the incentives you receive for using your credit cards to make purchases, credit cards offer numerous other purposes. The list of applications for credit cards is as follows:
- Controlling vendors
HSBC credit cards assist in controlling vendors. Consumers have the choice to refuse payment or, if they have already paid, the opportunity to reverse a payment if they believe the goods they purchased fall short of expectations. In this approach, the suppliers of the items will continue to be trustworthy and deliver higher-quality goods.
- Insurance
Several HSBC credit cards include optional insurance, such as travel insurance. Many cardholders never even consider themselves protected and never use these services. Before applying for a credit card, it is best to study the terms and conditions and become familiar with all the features.
- Sign-on incentives
As a thank you for joining the bank, several of the credit cards from HSBC Bank offer sign-on bonuses or gifts. This is a fantastic incentive that will more than makeup for any joining expenses already paid.
- Frequent flyer miles
For those who travel regularly by plane, this is helpful. When you purchase an airline ticket with your HSBC credit cards, you receive “miles” as a reward. If you accumulate enough points, you may be eligible for free tickets or discounts on future tickets. Also, some credit cards get you access to airport lounges, which may come in handy if your flight is delayed.
- Cashback
Certain HSBC Bank credit cards also offer rewards on specific purchases, such as 5% cashback for online shopping and 5% cash back for paying utility bills with your card. This is a fantastic approach to reducing spending.
- Rewards
Your Rewards credit cards offer reward points for every purchase you make. These points can either be gathered to get a nice gift or exchanged for money. The client wins in either scenario.
- Universal acceptance
Credit cards are accepted anywhere, unlike debit cards. You can use your credit card to make purchases in any foreign country without looking for an ATM or a currency conversion office.
- Quick Loan
You can get a loan right away from your credit limit without having to get permission. In an emergency, this can be quite helpful. If you are unable to pay your credit card account in full right away, another alternative is to convert it to an EMI.
- Regular credit score improvement
When you pay your Low maintenance credit cards account on time, your credit score rises. A credit card will help you raise your score in this area as well, as varied credit or a credit mix is a factor in your credit score.
Hence, credit cards offer cardholders a wide range of advantages.
Conclusion
HSBC Bank credit cards provide a wide range of benefits, including cashback, frequent flyer miles, sign-on incentives, and quick loans. In addition, they also offer perks such as insurance coverage and reward points, making them a convenient and practical choice for many consumers. Whether you’re looking for low-maintenance credit cards or rewards and frequent flyer credit cards, HSBC Bank has options that cater to your needs. So, consider the different credit card options provided by HSBC Bank and take advantage of the many benefits they offer.
FAQ
1. Why was my application for a credit card from HSBC Bank denied?
Several factors, including eligibility requirements and a low credit score, could be the cause. Wait for the rejection letter, which will contain all the information and the explanation for the rejection. You can get more information by contacting the HSBC Bank credit card customer service if you have any other questions.
2. How can I monitor my credit card usage?
You have several options for checking your credit card usage and balance, including phoning customer service, visiting the nearest branch or ATM, using Net banking or mobile banking, or signing up for monthly statements and SMS notifications.
3. How can I view how my credit card has been used?
You have several options for checking your credit card usage and balance, including phoning customer service, visiting the nearest branch or ATM, using Net banking or mobile banking, or signing up for monthly statements and SMS notifications.