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What Benefits Can You Get From HSBC Credit Card Singapore?

Are Credit Cards Useful? 

Using credit cards isn’t new to Singaporeans. It’s one financial tool that people can use when they need to purchase in tight budget times. 

YouGov’s survey revealed that 73% of Singapore citizens hold at least one credit card. While 56% own two or more cards and 10% have more than six cards.

Though almost three-quarters of Singaporeans hold cards, it showed that credit card debt is low. It’s because most credit cardholders in the country pay off debt on time. 

The figures mentioned show how valuable a credit card is for Singaporeans. 

If you plan to get one, consider looking for HSBC Credit Cards. It’s one of the most famous credit cards in Singapore. Here’s more about HSBC credit cards, and find out what will benefit you. You might find a credit card that will suit your needs. 

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HSBC Credit Card Singapore Reviews

HSBC Credit Cards Features

The one known bank offering a wide variety of credit cards where cardholders get a reward in return is HSBC. It’s either you earn points from shopping or taking fuel. Or maybe you get a cashback on your transactions. And you can even get vouchers from their websites. 

HSBC credit cards have several features, including the following:

  • Card Instalment Plan
  • Card Balance Transfer
  • Spend Instalment

HSBC can offer you five credit cards for each, which you can use to suit your needs or wants. 

Card Instalment Plan

Card Instalment Plan is a feature where you can pay your purchases interest-free for over six, twelve, or up to 24 months! It also allows you to pay into fixed monthly repayments, depending on how long you pay. 

HSBC Card Instalment Plan can only be in effect if you spend at least S$500 on any HSBC participating merchant outlets. You can review all the merchants where you can use the HSBC Card instalment Plan. 

Card Balance Transfer

If you want to pay off your debts with lesser interest, you can apply for an HSBC credit card with this feature.

A card balance transfer is where you transfer your high-interest debts to another credit card account. Such an account incurs lesser interest rates. Thus, it lets you save money on interest charges. 

With HSBC Card Balance Transfer, you’ll get two choices:

  • You get a low balance transfer rate of 2.50% p.a for six months with an EIR of 4.39% p.a. 
  • The balance transfer rate for twelve months is 4.88% p.a. with an EIR of 6.77% p.a. 

Card Balance Transfer does also have a processing fee worth S$88. Yet, you can waive such a fee for an approved amount of S$10,000 and above. 

Please note that there are terms and conditions applied to balance transfer. 

Spend Instalment

It’s a feature where you can pay at your own pace. You get flexible monthly repayments for any purchase, including the downpayment for a car and electronic gadgets. It is also applicable to online shopping and airline tickets. 

With Spend Instalment, you’ll choose your preferred instalment payment period. That is from three months, six months, up to twelve months. Each incurs a one-time processing fee from 3% to 5%. 

Instalment payment periods of three to six months incur a one-time processing fee of 3%. In comparison, twelve months have a 5% one-time processing fee.

Best HSBC Credit Card Offers For Singaporeans

Knowing which credit card you want to get will be based on how likely you spend your money. It could be spending most of it on essential goods, dining, fuel, online shopping, etc. Some of them mostly spend money on travel and accommodations. 

Every credit card, HSBC, has its features and benefits. Choose which you think fits your financial routine. 

HSBC Cashback Credit Cards

Cashback is one benefit that every cardholder can get using credit cards. You earn cash rebates every time you use your credit card. 

Such refunds are redeemable, and you can easily use them at merchants. 

Here are some Cashback credit cards you can choose from HSBC.

HSBC Cashback Credit Card

HSBC Cashback Credit Card comes with zero joining fees for your first year with a special discount of up to 15%. And you have a 1.5% cashback on all online spending. 

In addition to that, this card won’t cost you any joining fees. That said, you will surely save money. Lastly, the annual membership fees can be reversed if your total yearly spend exceeds. 

HSBC Visa Platinum Card

The HSBC Visa Platinum Credit Card is one of the hot picks! Among the credit cards offered by HSBC, the Visa Platinum Card best suits families.

You get a 5% cash rebate every time you use the card for dining, groceries, and fuel. On every dollar you spend for family fancies locally or abroad, you earn 1 Reward Point. You can earn more reward points by adding a supplementary cardholder to your account. 

Another good news is that the Visa Platinum Card doesn’t have an annual fee. 

HSBC Smart Value Credit Card

Smart Value Credit Card offers 10% cashback within the first 60 days of insurance. There is no annual fee when getting this type of card. You save precious time and money with the special vouchers on the website.

HSBC Premier Mastercard Credit Card

Get an HSBC Premier Mastercard Credit Card packed with global and local privileges. Experience the luxury of life with such high-end features. 

A few of these are the airport lounge access, complimentary movie tickets and gold benefits. Enjoy a discounted green fee and a dedicated 24-hour gold concierge of the service using this credit card.

It’s a non-annual fee credit card that lets you enjoy a 5% cash rebate on every spend you make. Use it when you dine, buy groceries, petrol, and transportation. Such privilege is applicable locally and overseas. 

Aside from cash rebates, you earn reward points for every dollar spent and travel rewards. Increase rewards by adding up a supplementary cardholder. 

Are you interested in applying for a Premier Mastercard Credit Card? HSBC considers any Singaporean or PRs 21 years old and above earning S$30,000 annually. But note that you should be a premier customer of HSBC. 

HSBC Advance Visa Platinum Card

Advance Visa Platinum comes loaded with special privileges in categories like dining, shopping and many more. You would enjoy the great benefits of the reward points program and the other services. 

The card has a one-year annual credit card fee waiver, yet you get two reward points. You can get up to 2.5% base cashback on every buy. 

Add to that is the 1% bonus cash back if you’re an HSBC Everyday Global Account holder. Terms and Conditions apply to both rewards programs. 

Singaporeans and Permanent Residents ages 21 and above can apply for an Advance Visa Platinum Card. But they should at least earn an annual income of S$30,000. 

Self-employed and foreigners can also get the said credit card as long as they meet the required annual income of S$40,000. 

HSBC Miles Card

HSBC Miles Card, also known as Air Miles Credit Cards or Frequent Flyer Credit Cards. This type of credit card accumulates miles reward in every buy you make. You can use the earned points towards your next holiday’s airfare.

Getting a miles credit card would be a benefit if you travel a lot. You can use the accumulated miles points for any airline’s benefits. It could be seat upgrades, priority boarding, free companion tickets, or buying a travel-related merchant.

You might get a free flight, but that depends on the amount of miles points and the value of each mile. Check the Terms and Conditions of the frequent flyer programme. Be sure to read and understand every detail. Know if miles points expire at a specific time.

But note that getting credit card miles need to meet a higher annual income requirement. 

Here are HSBC’s best miles credit cards:

HSBC Revolution Credit Card

It’s a credit card in a nutshell! It comes with fantastic features you’d surely enjoy while spending contactless. HSBC yearly waive their credit card charges. So you can enjoy using the card with all these perks. 

With Revolution Credit Card, you can load up to 10X Reward points when shopping, ordering, or booking travel online. Also, you can get 10X Reward points for every payment you make through payWave, Apple Pay, and Google Play.

Using the HSBC Singapore app, you can use all the reward points you earn to offset your spending. Or, you can even make your payments in monthly instalments.

It’s easy to pay for your HSBC Revolution Credit Card with the help of a Virtual Card. Access and pay only through your mobile phone. 

Singaporeans and Permanent Residents who earn an annual income of S$30,000 can get this type of credit card. They should meet the age requirement of at least 21 years old and above. 

On the other hand, the self-employed should meet the required annual income of $40,000. HSBC also welcomes foreigners, which requires them to complete the same annual income of $40,000. 

HSBC Visa Infinite Credit Card

Way to go for luxury travel benefits with Visa Infinite Credit Card! Such a credit card will give you more privileges and other personal services that’ll suit your every need wherever you go.

Experience the best travel with this card’s unlimited airport lounge access. Being a Visa Infinite Cardholder, you get access to 1,100 airport lounges around the globe. That is also applicable to your supplementary cardholders.

What’s more impressive is you get VIP treatment, comprehensive travel insurance, and personalised assistance. Using this card will earn you more air miles, up to 2.25 air miles per dollar spent. 

HSBC Visa Infinite Credit Card has a Preferential annual fee of S$488 or S$650. Premiere HSBC customers can get S$120 whenever they have a successful cardholder referral. 

Applying for this type of loan is easy. You need to be 21 years old and above and earn at least S$120,000 of an annual income. You can use MyInfo for an easy and more manageable process.

HSBC Credit Card Promotions 2021

Last year, 2020, HSBC Credit Card had a free luggage promotion. All new-to-bank customers who applied for any HSBC credit cards can get a free luggage gift. 

HSBC is still giving away exciting gifts to new customers and HSBC customers this year 2021! Here’s what you’ll get:

HSBC Visa Platinum Credit Card

There is a gift that is up to S$200 of cashback (there is $50 of cashback when you can make one qualifying transaction that can plus up to S$120 cashback with a $500 of minimum spend plus it has a cashback of $30 that you can apply with MyInfo via SingPass) That may valid until 30 June 2021

HSBC Revolution Credit Card

Get 5x rewards using the HSBC Revolution Credit Card. Earn points while spending on local dining, hotel transactions, and online purchases.

You can also get points whenever you spend on local entertainment, such as pubs and bars. You get 1x rewards on all the other assets. 

Another perk you’ll enjoy is a 14% discount for the Caltex and Shell Station. Every $1 is equal to 1 reward point.

HSBC Credit Card in Singapore

No annual fees are required if you are an HSBC Advance Banking customer. You can earn up to 3.5% of cashback and an additional 7% off to any destination with Agoda. Get a 16% petrol discount at Caltex.

If used wisely, credit cards will be one of your great financial buddies! You might even get rewards that’ll save you more money while spending. All you need to do is find which credit card suits your needs and spending habits. 

The only concern is whether you’re qualified to get an HSBC Credit Card. If not, you can still find ways to get financial help when needed at a particular time. 

Whenever you need extra cash in emergencies, you can seek financial help from licensed moneylenders like Cash Mart. Visit www.cashmart.com.sg so you will know the best features of Cash Mart!