HSBC Credit Card – $0 Annual Fee
Pros
- One of the few cards offering a $0 annual fee for life
- The rewards program provides discounts on shopping, travel, and accommodation
Cons
- At the end of the balance transfer period, the interest rate reverts to the cash advance rate
Overall
If you repay your balance in full each month, this card is a great offer to consider, since it has no annual fee.
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HSBC Credit Card Review
The HSBC Credit Card is a credit card that offers $0 Annual Fee for the life of the credit card.Compare this credit card with other leading $0 Annual Fee Credit Cards.
| Product Name | HSBC Credit Card | |
|---|---|---|
| Balance Transfer Rate | 0% p.a. for 6 months | |
| Interest Rate on Purchases | 17.99% p.a. | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $0 p.a. | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.99% p.a. | |
| Minimum Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|
$1,000 | |
| Minimum Monthly Repayment | 3% | |
| Credit Card Type | Visa | |
| Late Payment Fee | $30 | |
| Complimentary Travel Insurance | No | |
| Available to Temporary Residents | Yes | |
| Joint Application | No |
HSBC Credit Card Review
Understand why the HSBC Credit Card is a great route to cost-free credit card use. Learn all about the other benefits and features.
With the HSBC Credit Card you won’t have to pay any annual credit card fee with a $0 annual fee for the life of the credit card.
HSBC Credit Card features:
The HSBC Credit Card is a top quality credit card for all the consumer-friendly features thrown at you. Features include:
- $0 annual fee for the life of the credit card1
- 55 interest-free on purchases when you pay the full balance (including any balance transfer, promotional purchases) by the due date each month.
- 17.99% p.a. interest rate on purchases
- 21.99% p.a. cash advance rate
- 0% p.a. for 6 months Balance Transfer for 6 months from non-HSBC credit cards on application (reverting to the variable cash advance rate, currently 21.99%).
- Additional cardholder fee of $0
- Special privileges at over 19,000 retailers in more than 160 countries and territories with the home&Away Privilege Program.
- Winner of Money Magazine’s 2010, 2011 and 2012 ‘Best Transactor Credit Card’.
- Offer available for new, approved HSBC credit card holders who apply by 30 June 2013.
The HSBC Credit Card is one of the few credit cards that offers a zero annual fee for the life of the card, not just as an introductory offer, allowing you to reduce your annual card costs to zero. This is great news for those people who always avoid paying interest on their credit card bill by clearing it in full each month, because they will now be able to enjoy an effectively cost-free credit card. Being fee-free for life provides peace of mind, especially as credit card annual fees often increase year on year.
Information needed for an HSBC Credit Card application:
The following information will be required in your application for an HSBC Credit Card, which should take no more than 10 to 15 minutes:
- Your personal details, including your driver’s licence number
- Your contact details, including your email address
- Your employment details, including time in current employment
- Your financial details, including income and expenditure
If you leave your application unattended for more than 20 minutes, the site’s security features will time you out and you will lose any information already input. Processing your submitted application may take between 5 and 10 working days.
HSBC Credit Card criteria:
Your application for an HSBC Credit Card depends on your fulfilling the following criteria:
- You have to be 18 years of age or over
- You have to possess a good credit rating
- You have to be a permanent resident of Australia, or hold a suitable temporary visa such as a 457 working visa.
- You have to be earning at least $20,000 p.a. pre-tax
Read the HSBC Credit Card terms and conditions.
| Minimum Income | $20,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | Yes | |
| Credit Rating Requirement | Good | |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $1,000 |
| Annual Fee | $0 p.a. | |
|---|---|---|
| Minimum Repayment | 3% | |
| Late Payment Fee | $30 | |
| Over Limit Fee | $30 | |
| Overseas Emergency Replacement | $200 | |
| Overseas ATM Balance check | $0 | |
| Overseas ATM Withdrawal | $0 | |
| Foreign Currency Conversion Fee | 3% | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 | |
| Number of Additional Cardholders | 1 |
Pros
- This card has a $0 annual fee for the life of the card.
Read the HSBC Credit Card terms and conditions.
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Does this card allow for free overseas travel insurance if tickets purchased with the card?
Hi JK
Thanks for your comment
The HSBC Credit Card does not come with any free travel insurance. Platinum Visa credit cards currently offer complimentary travel insurance – we’ve written a credit card travel insurance article if you’d like to review that.
Cheers
Jeremy
does this card offer free travel insurance if you purchase holiday with card
Hi Allan
Thanks for your comment.
The HSBC Credit Card does not offer complimentary travel insurance when you purchase your holiday with the card. Complimentary travel insurance is a feature you would typically find with many Platinum credit cards.
Thanks again for participating in the CreditCardFinder.com.au community!
Cheers,
Jeremy
What is the life of the card? Also what is the annual fee after that period?
Thanks.
Hi Megan
Thanks for your comment
The HSBC Credit Card currently offers a $0 annual fee. This special offer is only available while you remain a customer of HSBC. HSBC cardholders who have previously cancelled the same card type as the new card they are applying for may not be entitled to these special promotional offers on the annual fee.
Cheers,
Jeremy
I am looking for a Business Card, what are the requirements?
Hi Leticia
Thanks for your comment
The application criteria varies depending on the credit card you are wanting to apply for. Check out our business credit card comparison guide.
Cheers
Jeremy
how do you make a payment . is it all on line
Hi Peter
The HSBC Credit Card comes with internet banking which allows you to make payments to your card. You also have the option of receiving a paper statement each month, with a number of payment options including BPAY.
Cheers
Jeremy
Do they offer supplementary card for family member?
Hi Min
Thanks for your comments
Yes – you are able to have additional cardholders on your account. However, for each additional cardholder you will need to complete an application form.
Cheers
Jeremy
It says ‘N/A’ for Overseas ATM withdrawal. Does that mean it is $0, or that I cannot withdraw from overseas ATMs?
Could you advise international transaction fees for this card
Hi Chris
From the HSBC fee schedule, it notes:
“Overseas transaction charge – payable when you make a transaction on your account in a currency other than Australian dollars, or you make a transaction on your account in any currency (including AUD) that is processed by the card scheme or billed by the merchant outside of Australia”
This amount for the HSBC Credit Card is 3.0% of the total value amount of each such transaction
Cheers
Jeremy
Does HSBC force you to upgrade to their Platinum card or is this a choice?
Hi Jane
Thanks for your comment
As far as we are aware, it is a choice as to which card you apply for. It is however important you confirm this with HSBC customer service before making a decision to apply.
Cheers
Jeremy
Is this offer still available? I can’t seem to apply for it..
Hi,
Yes you can still apply for the HSBC credit-card, please follow the link to the page and click the apply now button to be taken to a secure HSBC application page. Thanks.
Cheers,
Jeremy
Does this $0 annual fee card have a rewards program? There is a green tick but it says “No” next to the tick in reference to rewards program.
Hi Li
Thanks for your comment and feedback
There is no rewards program currently for the HSBC Credit Card.
Cheers
Jeremy
hi HSBC,
If I have a current credit limit of $5000.00 on my card and I have exceeded this amount or are bordering on the maximum, will I still be able to apply for a HSBC card and gain approval? This is not usual for me I usually pay at least the minimum amount every month but some unforeseen circumstances have made me go over my limit in the past month. I have asked for a temporary increase from my current provider and they have refused me but allow the card to go overlimit and charge me fees. I just need a few months to clear this debt off. Am I still eligible to apply?
Hi Mel. Thanks for your question and sorry about the time it’s taken to reply to your message. Yes, you’re still eligible to apply if you meet the application criteria. If you’re card is maxed out, it doesn’t rule you out of applying for another credit card, but it will factor into the lender’s decision making process. Because you’re applying for a second HSBC credit card, you will not be able to transfer the balance between these cards at a promotional rate of interest and the size of the debt on your old card, and the repayments will be factored in by the lender when deciding to approve you for a second card. Jacob.
Hi,
I noticed a 2% handling fee on Balance transfer for this card. Does this mean if I would like to do a balance transfer of $8,000 then the charge will be 2% on that $8,000 (balance transfer)? Please contact me via my email provided. Thanks.
Information has been sent to your email. Jacob.
What does the 2% handling fee mean? Is that upfront or paid monthly on outstanding balance?
Hi Karen. This was a fee for processing balance transfer requests. Currently, it is not charged. Please refer to the product page for up to date information about fees and charges. Jacob.,
Can you tell me if the 2% handling fee is just a one-off payment or do they charge it monthly? Thanks.
Hi Anne. HSBC have abolished their balance transfer fee of 2%. Currently, there is no fee for processing a balance transfer. Thanks.
I applied for an HSBC Credit Card this afternoon($5000 limit)and would like confirmation that the card I have applied for has ‘no annual fee for life’
Hi,
Yes that is correct there is no annual fee associated with this card. Thanks.
Jeremy
I currently have a HSBC credit card which I have never activated (it was issued after taking out interest free terms a couple of years ago) I want to do a balance transfer, can i use this card and will the 0% for 6 months apply?
Hi Michael,
Thanks for the question. Unfortunately to be eligible for the 0% balance transfer promotion you must be issued with a new card. If you have been previously issued with a card but have not activated it, you must reapply to take advantage of the promotion. Cheers.
Jeremy
I’ve never had a credit card before and I have some debts to pay to my friends and I was considering a personal loan but now I can see that credit card would be better for me because I pay back debts ASAP…
So I wanted to ask, what’s the credit limit? I just started working and I earn $40k. So can I set the card up to allow me to take out $1500/month maximum, withdraw $1500 and pay it back within the 55 days and incur no costs at all? Will a statement come in every 30 days? In the mail or will it be set up through internet?
Sorry for the amount of questions – I’m truly a novice with credit cards because I try to be financially responsible and I was told to avoid them at all costs in the past but this seems fool-proof as long as you pay on time…
Hi H. Please check out our articles for credit card beginners for answers to all your questions. Thanks for your questions.
Are transactions covered by fraud insurance?
I’ve just applied for and received my card. A balance transfer was processed on the 4th Jan. The only interest rates on the statement are interest rate 17.99% (I am assuming this is purchase interest) and cash rate 21.99%. Am I entitled to the 0% rate?
Hi Carolyn. Thanks for your question and apologies for the delay. If you applied for, and processed, a balance transfer at the promotional rate of interest – this is the offer you will get. If your credit card statement is showing interest charges calculated at different rates of interest – first take the issue to HSBC. If they can’t resolve the issue, the next step will be take the problem to the Financial Ombudsman Service. Jacob.
how long does it take to get this credit card if eligible?
Hi Glen,
The application process takes about 10 or 15 minutes and once successful expect anywhere from 7 – 14 business days to receive your card. Thanks for the question.
Cheers
Jeremy
I have a few questions:
1. Can you please tell me what the max credit limit is on this card?
2. Can I do a balance transfer from my New Zealand Visa Gold Card?
3. If I can do balance transfer from my NZ card do I get charged a Foreign Currency conversion fee?
4. What is the Overseas ATM withdrawal fee?
5. If interest is charged from purchase date then how do I get 55days interest free?
Hi Walter.
1. The credit limit is assigned based on the details you provide to the lender during application, so the max credit limit will vary from person to person,
2. Balance transfers are only accepted from Australian credit cards.
3. N/A
4. I looked up the ‘Personal Finance Charges for HSBC Credit Cards document and it said,’ This fee will be disclosed at the time of the transaction with an option to discontinue the transaction without charge.’
5. Interest is calculated from the purchase date, but if you’ve paid your statement for two consecutive months, you’ll get up to 55 days interest free on purchases made with the card.
Thanks for your question.
I am currently on a Graduate Subclass 485 Visa. It is valid until July 2013. Would I be eligible for this deal?
Hi Lisa,
Thanks for your question. As a non-permanent Australian resident to be eligible for a HSBC Credit Card you must earn more than $50,000 a year (before tax) and hold a valid 457 Visa or a Visa that has unlimited working rights, i.e. Spousal Visa, Bridging Visa (excludes Student Visa or a Visitor Visa). Hope this helps.
Cheers
Jeremy
how many days to take approve for the card and how much I can transfer
Hi,
Thanks for the question. Conditional approval is usually given within minutes of the completion of your application. You can perform a balance transfer usually 90-95% of the agreed upper credit limit of the card.
Cheers,
Jeremy
I understand that this card held by my friends has a max credit limit of $2000. As on this website this max credit limit has been left blank, am I to translate that as meaning no max limit?
Thanks
Hi,
It can be difficult to determine what the maximum credit limit on your card will be as it is determined by the lending institution based on the details you provide during the application process. Thanks.
Cheers
Jeremy
I have a balance on a credit card and overdraft that I would like to transfer. Can the balance on the overdraft be transferred or is it just credit cards? Thank you.
Hi Carole. Just credit cards with HSBC. Citibank and Virgin do allow personal loans and lines of credit to be transferred to their cards under the promotional interest rate. Perhaps try them. Jacob.
The Virgin credit card features cutting edge secure chip technology, to further reduce the likelihood of unauthorized transactions going through. However, even if an unauthorized transaction does take place, Visa’s Zero liability policy ensures that these transactions will be reversed.
DOES HSBC OFFER THE SAME SECURITY, PROTECTION AND ZERO LIABILITY POLICY?
Hi George,
Being a Visa Card, the HSBC Credit Card does come with Visa’s Zero Liability Policy. Thanks.
Cheers
Jeremy
Where can I make over the counter payments?
Hi George. You can make payments at any HSBC branch or Australia Post Office. Thanks for your question.
Where can I physically pay the card? Post office or other agency?
Hi Peter,
You can pay your account at an Australian Post office but this will incur a $2.95 fee every time you make a payment. Thanks for the question.
Cheers,
Jeremy
Does this (or any balance transfer card) allow me to transfer balances from US issued credit cards for the special introductory Balance Transfer rates?
Hi,
Thanks for the question. Unfortunately an outstanding balance cannot be transferred between international accounts taking advantage of the low introductory rate of interest. Cheers.
Jeremy
I am a 457 Work Permit Holder of Australia which is valid till Feb 2016. Am I eligible for HSBC credit card?
Regards,
Shakti
Hi Shakti,
Thanks for the question. If you’re on a 457 working visa, you must be earning over $50,000 p.a. to be eligible for the HSBC Credit Card and be contracted to work in the country for at least three years.
Cheers
Jeremy
My wife and I are Self funded retirees with our own Self Managed Super Fund which generates rent income from property owned. It is well above the Minimum income stated, however,as you may be aware our income is Tax FREE so we cannot provide an ATO confirmation of income.Would I be eligible for this card and have a supplementary card for my wife? Thanks
Hi Andre. Thanks for your question. Sorry for the delay. You will need to be able to prove your income in some form – best to speak to a lender in person as online applications can restrictive in their selection criterion. This card does allow one additional cardholder free of charge. Jacob.
Can I request the minimum $1000 limit
and can my family wife and 2 children 16 and 13 get supplementary cards
Hi Henry,
Supplementary card holders must be above the age of 16. You can request a specific credit limit once your card has been approved. Cheers.
Jeremy
my employer has Post box number for address. how i can apply for the card
Hi Sri. Thanks for your question and apologies for the lateness of this reply. Put down the P.O Box number. Please note that your employer will need to be registered in the White Pages in order for your application to be successful If you’re having doubts — contact the lender directly. Jacob.
Is there a minimum number/amount transactions needed per month/year?
Hi Tom,
There are no minimum or maximum transaction limits for this card. You may be limited by the amount of money you can withdraw as a cash advance. Cheers.
Jeremy
Can you advise me if I can transfer all or art of my outstanding bank loan or any bank loan for that matter onto this credit card? or is there a card for this purpose you can recommended?
Hi William,
Thanks for the question. You are unable to transfer a personal loan to your credit card taking advantage of the low rate of interest offered through a balance transfer option with HSBC; however, Citibank do offer the option of a balance transfer from a personal loan. Cheers
Jeremy
How many additional card holders can the account have?
Hi,
Thanks for your question. Up to 3 card holders are allowed at no additional cost for each.
Cheers,
Jeremy
What is the Mas credit limit for the card? e.g. earn $40000 p.a.
thanks
Hi Garry,
The credit limit on your card will be determined by your financial situation, provided at the time of application. You may apply for a credit limit increase thereafter. Thanks.
Cheers
Jeremy
Hi Jeremy, Thanks for your reply. AS per your conditions, I am eligible for this credit card of HSBC. And I have already applied on 13th April 2012 for this in your HSBC Bank in Swanston Street Branch of Melbourne. But, till now I haven’t heard anything from the bank on my application. I have been told that the whole process takes 7 to 10 working days. So, could you let me know the status of my application? My details are:\
Regards,
Shakti
Hi Shakti. I understand that in the time it’s taken for us to write back to your question that the answer is someone what irrelevant; however, for anyone else who finds themselves in the same situation, please contact the lender directly if you’re concerned about the status of your application. If you’re approved, the normal turn around time is two weeks — maximum. If it takes longer than this, the lender may require additional information or a communication may have gotten lost somewhere along the line. How did it go Shakti?
Jacob.
Hi, I have applied for 0$ annual fee credit card and my application got rejected though I full fill all the requirements by the bank. When I asked the reason, they say that “I don’t meet their lending/landing [Not sure about the spelling] requirements. I couldn’t understand what does this mean? Can you please explain the exact reason of my rejection on this?
Regards,
Shakti
If my work income is under the minimum but combined with my wife’s and other government payments is well over the required minimum pa would I still be eligible for this card?
Hi,
Thanks for the question. The banks generally take into account a range of factors when judging your financial situation. They will assess your application judged on your income, personal assets and liabilities. Work with your bank on the credit card application criteria to make sure you have the best chance of your application being approved, prior to completing the credit card application. Cheers.
Jeremy
Can I more than one card holder for the card. ie, my wife has one as well to use the same account?
Hi,
Thanks for the question. This card allows up to 3 additional card holders on your account at no extra cost. Additional card holders have mostly the same level of access except for some account administrative abilities. Cheers.
Jeremy
does the 2% get charged on the total amount transferred over initially then it’s interest free for 8 months after??
HI Shane. Thanks for your question. HSBC do not currently charge this fee for balance transfers. Sorry for the delay in our response. Jacob.
Can a balance from cheque ac. Be transferred? Is there a maximum limit?
Hi Herbert. Thanks for your question. HSBC allow balance transfer from credit cards and store cards only. Other institutions, like Citibank and the lenders it underwriters, do allow balance transfers from personal loans too. The maximum amount you can transfer will depend primarily on your credit limit, and secondly on the maximum balance transfer percentage of the institution. Sorry for the delay in this response. Jacob.
Hi there, 1. Can I transfer the balance from my wife’s and my existing credit cards, they are with two different banks?
2. The only charge is 2% of the funds on the total balance transfer right? with 0% for 8 months. Sorry,want to be clear. Cheers
Hi Sree. Generally speaking, you can only transfer from a joint account credit card to a joint account credit card and a single account holder credit card to a single account holder credit card, you will have to get your wife to perform a balance transfer to another credit card in her name in order to receive a balance transfer promotion. Once the balance transfer promotion has begun, there are no interest charges for eight months, you will have to make the minimum repayment of the total amount owning, which is 3% per month. For more information on transferring the debt from a partner’s credit card, check this page. Thanks.
If you own an overseas credit card, can you transfer the balance onto the HSBC credit card?
Hi,
Thanks for the question. You are not able to transfer the balance from an international card to an Australian credit card. Cheers.
Jeremy
Will i be charged the 17.99% p.a. after the 8 months?
hi Nick. At the end of the balance transfer period, interest will be charged at the cash advance rate of interest. Thanks for your question.
Can the 2% balance transfer fee be paid separately? I don’t want this fee to be counted as a purchase on the card which will then attract interest.
Hi Adam, thanks for the question. There is currently no 2% fee charged on balance transfers with the HSBC Credit Card. Cheers.
So if I balance transfer, and don’t purchase anything, I get 8 months interest free?
Hi Kelly. That’s correct. If you don’t use the card at all, you will not incur any interest charges with a 0% balance transfer offer. Thanks.
I have Internet banking with my anz bank account. Can I use that to pay the monthly statements of this HSBC credit card?
Hi Arty. Thanks for your question. To pay a credit card with internet banking, you will need to following: the HSBC BPAY biller code (17095), a reference number (you HSBC card number for instance) and the fund must come from a transaction or savings account.
Hi, am I able to do 2 x bank transfers (1 month apart), eg: $6000.00 in July and $6,000 in August to the HSBC card? And will it still remain 0% fee and the 2% balance transfer fee apply?
Thanks, Yvette
Hi Yvette. The 0% p.a balance transfer offer for 8 months can only be used for balance transfers from non-HSBC cards requested when first signing up to the card. Additional balance transfers requested after this will be charged at the normal cash advance rate, which is currently 21.99% p.a. No 2% fee is charged for making this balance transfer. Thanks for your question.
How much income would I need to declare to transfer a $16K balance?
Hi Greg. A cardholder’s credit limit is assigned based on the financials they supply during the application process. We don’t know how much you will have to earn to be successful for a $16K balance transfer; however, HSBC do allow you to transfer up to your available credit limit. Thanks.
once the card is approved,how many days it takes for balance transfer
process?
Hi Rishi. Once your card has been approved it takes up to 2 weeks for the balance transfer to be processed. Thanks for your question.
what interest fee is charged on the balance transfer 25 for example if I balance transfer 2000 dollars and pay a 40$ fee what and hence have a balance of $2400 in the 1st month what rate of interest do I pay against the $40 dollar fee? 0% or a higher actual rate?
Hi Richard. Thank you for the question. If a cardholder transfers a balance from a non-HSBC Credit Card and requests to make a balance transfer when applying for the HSBC $0 Annual Fee Credit Card, they’ll pay 0% p.a interest on the balance for 8 months. After this introductory period expires the standard 21.99% cash advance rate will apply to any balance transfers. Check out the terms and conditions for further information. Cheers.
After the 0% transfer period of 8 months does any outstanding balance transfer revert to the 17.99% rate or the cash advance rate of 21.99%?
Hi Lauren. At the end of the balance transfer period, the interest rate reverts to the cash advance rate. Thanks for your question.
Can you pay this card at the post office?
Hi Shayne. Yes it can be paid at Australia post. For Cash/EFTPOS payments over the counter – please allow one business day for processing. For cheque payments over the counter. Please allow up to five business days for processing. Thanks for your question.
I would like to apply for credit card with you with the 0% balance transfer but where I work has blocked the web page and I am out of town and do not have my personal computer with me. Can you send me application form to hgleeson@monadel.com.au
Hi Helen. If you’re still outside of internet coverage, please contact the card provider directly for an answer. Thanks for your question.
Is there a fee for balance transfers? I was told HSBC charge something like 2% of the amount transferred?
Hi Andrew. That used to be the case, currently HSBC do not charge a fee for carrying out a balance transfer. Thanks for your question.
If i don’t have HSBC saving account, Can i sent up Auto payment from my other bank account to pay HSBC credit card monthly?
Hi Faye. Thanks for your question. You will need to set up a direct debit agreement with your current lender and nominate the HSBC account as the beneficiary. Cheers.
Hi Faye. Thanks for the question. You will need to set up a direct debit agreement with your current lender and nominate the HSBC account as the beneficiary. Hope this helps.
When paying off this credit card, which is paid first: Cash advances (ie. things with no interest-free-period and high interest rate) or purchases?
For example, I owe $200 for a purchase and $200 for a cash advance. I make a payment of $200. Which will this pay off?
Hi Adrian. Check this page for the answer. Thanks for your question.
I have just finished paying an interest free purchase , does this card now become a HSBC credit card with normal terms ?
Hi Karen. Once an interest free purchase has been paid off the card it will work the same as any other card. Thanks for your question.
Where can you make payments on this card in person?
Hi Tanya. Thanks for your question.
The following is taken from the HSBC FAQ’s page: ‘ HSBC Branch
Cash/EFTPOS payments over the counter. Please allow up to two business days for processing
Cheque payments over the counter. Please allow up to six business days for processing
Australia Post
Cash/EFTPOS payments over the counter. Please allow one business day for processing
Cheque payments over the counter. Please allow up to five business days for processing
Mail
Cheque payments through the mail. Please allow up to seven business days for processing
Post cheques to:
HSBC Credit Cards
PO Box 347
Artarmon
NSW 1570.’
Hope this has helped.
Is there a maximum payment that can be made when paying off balance transfers?
Hi J.
Thanks for your question. If you have carried out a balance transfer there is no limit to the amount of money you can pay on to the card to clear the debt. Cheers.
Can I apply for a new credit card with balance transfer if I am self employed but don’t have tax returns for last 2 years?
Hi James. It all comes down to proving that you earn over the minimum income requirement for the card you want to apply for. Once you’re accepted for the credit card, generally you’re accepted for a balance transfer too. Keep in mind that to be eligible for the balance transfer promotional rate of interest, you must apply for the balance transfer when you apply for the card. Do you have any way to show your annual income?
Jacob.
Will an existing customer of HSBC can get 0% Balance Transfer?
Hi Kumar. Thanks for your question. To be eligible for the introductory balance transfer offer, you must not be an existing HSBC customer. Cheers.
If a balance transfer is paid off within the 8 month 0% period and the credit card account is closed, will there be any associated fees?
Are there any ongoing monthly fees?
Hi Robbie. Thanks for your question. The minimum monthly payment for this card is 3.00%, this is payable each month until the card’s balance has been paid off. There are no fees for paying off your balance transfer. Cheers.
Hi,
Under the “cons” of this card it states that there is a fee for taking up the balance transfer offer?
Does this fee still exist? (couldn’t find it in their terms and conditions) And if it does, how much is the fee?
Thank you!
Hi Lee. Sorry about the mix-up. HSBC used to charge a balance transfer fee of 2%-3%, but since the cons tab has been posted they have removed this charge. Thanks for the question.
This is under Pros & Cons.
Cons
You will incur a balance transfer fee of % of the total amount you wish to bring over to the card through a balance transfer.
Is a generic comment under Cons or is there really a missing percentage? Thanks
Hi Jeff. Sorry about the mix-up. HSBC used to charge a balance transfer fee of 2%-3%, but since the cons tab has been posted they have removed this charge. Thanks for the question.
When does this offer expire. I am keen to do a balance transfer from ANZ but don’t want to make it active until mid September, is it possible to apply now and do the transfer at the date I want?
Hi R. This offer will finish on the 31st of March 2013. According to the HSBC terms and conditions, ‘To be eligible for the introductory balance transfer rate, the balance transfer request must be made at the time of applying for the new HSBC credit card.’ Thanks.
What is the Max credit limit available ?
Hi Michael. The credit limit is assigned to cardholders based on the information they provide to the bank during the application. Cheers.
My husband and I are wanting to consolidate all our debts, two credit cards, onto one new credit card and dispose of the old ones. Can transfers be made from a credit card in my name and one in his name to one credit card account that we both have a card for. Thanks
HI Thalia. Please refer to our guide on this topic for an answer. Thanks for your question.
Can I pay outstanding amounts on this credit card via cash deposit at an ATM? If so, are there HSBC ATMs in Adelaide, Australia?
Hi Steve. There’s two HSBC ATM’s in Adelaide. One at Adelaide Branch ATM: 55 Grenfell Street, Adelaide and the other is at Gouger St ATM: 88 Gouger St, Adelaide. Some HSBC machines will accept cash deposits, these machines are attached to a branch. Thanks for your question.
How long does application take for 0% balance transfer cards and is there any handling fee???
Also, do I need to cancel my old card which I am balance transferring owed money too???
Ben :)
HI Ben. Thanks for your question. It usually takes about two weeks to get the card after you apply, but you can always keep tabs on your application either online or over the phone. If you successfully transfer the balance from your old credit card to your new credit card you will have to cancel the old card and transfer any direct debit agreements yourself. Hope this helps.
do I need to make a minimum purchase on my card every month and what is that amount.
Is there a setup/establishment fee?
What is the cost for an additional card ?.
Hi Rod. Thanks for your question. Up to 3 card holders are allowed at no additional cost for each. Cheers.
Is this card aligned with Qantas Frequent Flyer?
Also how do I roll over my current outstanding balance owing from another credit card onto this card?
Hi Mel. Thanks for your question. In order to bring the debt from an old credit card to the HSBC credit card you will need to carry out a balance transfer. in order to make this work you will need to meet the HSBC terms and conditions, available here. This card does not offer a rewards system. Cheers.
What is the minimum repayment amount monthly?
Hi Cate. The minimum monthly repayment for this card is 3.0% of your total outstanding balance. Thanks for your question.
Are there any charges called retail or promo rate?
Hi Fay. Thanks for your question. There are no charges on this card that come under the term promo or retail rate. This may refer to the promotional interest free period on purchases when you first use your card or it you may be referring to the introductory rate for balance transfers, which is discounted rate of interest charged on balances transferred to the card from a non-HSBC affiliated credit card. Cheers.
I am wanting to transfer balance of 3 cards, application only lets me do 2. How can I add the extra 1?
Hi Cheryl, thanks for your question. HSBC allow the consolidation of up to four credit cards through their balance transfer offer – the amount you’re allowed to transfer will depend on the credit limit set by HSBC at the time of application. It’s also worth noting that you must elect to perform a balance transfer at the time of application as HSBC will not process balance transfer requests once the application is complete. Cheers. For a comparison of balance transfer cards in the market, please check our balance transfer comparison page. Cheers.
I do not want pay pass or pay wave. Is there a HSBC card that does not have these
Thanks for your comment Des. HSBC credit cards do not yet come with pay pass or pay wave type features. HSBC Visa debit does come with this feature.
I hope this helps!
Adrian
How many times can I balance transfer from my existing credit card and is the 0% from the time you open the credit card account or from the first transfer? Thanks!
Hi Jason, thanks for your question. HSBC allow the consolidation of up to four credit cards through their balance transfer offer – the amount you’re allowed to transfer will depend on the credit limit set by HSBC at the time of application. You must elect to perform a balance transfer at the time of application as HSBC will not process balance transfer requests once the application is complete. For a comparison of balance transfer cards in the market, please check our balance transfer comparison page. Cheers.
can I do a balance transfer for my personal loan of 15000 on this card.
Hi Usha. Thanks for the question. You are unable to transfer a personal loan to your credit card taking advantage of the low rate of interest offered through a balance transfer option with HSBC; however, Citibank do offer the option of a balance transfer from a personal loan. Cheers
Can you transfer an international balance?
Hi Marie. Thanks for your question. Balance transfers under the promotional rate of interest must be between two non-related Australian accounts. Check our balance transfer comparison page for further information.
is there a minimum time period that you have to stay with this card when you transfer a balance from another card?
Hi Jess. Thanks for your question. When you transfer the balance from one credit card to another, there is no set time period in which you have to ‘stay’ with your old card, or your new card for that matter. The responsibility is on the consumer to cancel their old credit card and transfer any direct debit agreements, and it’s up to the customers discretion as to how long they stay with their new card before cancelling it or performing another balance transfer to a different institution. It’s worth noting that if you’re carrying out a balance transfer, you will want to take advantage of the whole introductory period to get as much of your credit card’s outstanding balance paid off, and you cannot cancel a credit card if you owe money on that card. Cheers.
I am Australian Temporary resident . I would like to apply for this credit card .Am i eligible to apply ?
Please let me know
Ketan
Thank you
Hi Ketankumar,
‘ In Australia if you have a 457 working visa, you must be earning over $50,000 p.a. to be eligible for the HSBC Credit Card and be contracted to work in the country for at least two years.’
Hope this helps
Can I use this card to pay for another credit card?
Hi Martina. Thanks for your question. You can use one credit card to pay another; however, you may incur cash advance interest charges. Cheers.
If I transfer a balance of $1336.66 from another credit card, I wouldn’t have to pay any interest on that for 8 months, correct?
HI Jackie. Thanks for your question. The balance transfer offer is 0% interest charged on balances transferred for eight months, which means you will not incur any interest charges on the balance you bring over the new card; however, you will be required to make the minimum repayment each month of 3% of the total balance. Hope this helps.
hi, looking to transfer debt from 2 other credit cards with a total of $4500 on the 0% transfer for 8 mths. what do we need to do to pay out the other cards and start with you.
Hi Adam. Thanks for your question. In order to carry out a balance transfer, you need to indicate to your new card provider that you would like to consolidate your old credit card debts with your new card taking advantage of the introductory interest rate through a balance transfer. – this is usually done when you apply for the new card. More information on this process can be found on our balance transfer comparison page. Thanks for your question.
Is there a fee for transferring a balance from another credit card?
Hi Liane. Thanks for your question. There is no fee for processing a balance transfer. Cheers.
Hi, just wondering about transferring credit card balances, I have 4 that I would like to transfer but when filling in the online application there was only space for 3. Is it possible to transfer from 4 cards? Thanks for your help.
Hi Erin. Thanks for your question. Generally speaking, you are allowed to transfer up to about 95% of your approved credit limit on your new card. If you’re having trouble with the application form, please contact the lender directly and explain the situation. Cheers.
when is the balance transfer effected? Is it based on x number of business days after approval or after the card is activated?
Hi Bill. Thanks for your question. Generally speaking it can take up to 7 business days before the balance transfer amount shows on your statement after it’s processed by the lender who’s buying the debt. Hope this helps.
When the existing balance is transferred from my current credit card does this cancel my existing credit card or just take the funds from that credit account?
HI Susan. Thanks for your question. Once you have requested a balance transfer to a new credit card, the responsibility is on the cardholder to close the account and reorganize any direct debit arrangements. Cheers.
Currently with HSBC and have a HSBC Platinum Credit Card. Will they allow me to balance transfer from other cards to a new HSBC card or is it for new customers only?
Hi Kate. Thanks for your question. If you are already a HSBC customer, then you can apply to transfer a balance from a non-related credit or store card via the HSBC balance transfer request form. You can also elect to apply for a new credit card and carry out a balance transfer to the new card. For further information on balance transfer credit cards, check out our comparison page. Hope this helps.
Hi team
My current credit card due is $7300 and Iam looking for the best balance transfer available.Please let me know if there is any extra fees involved.If you could mail me I can provide more details.
Hi Biji. Thanks for your question. Finding the card that’s right for you is going to depend on your personal circumstances. Have a look at our balance transfer comparison page for information about the offers currently in the market. At present, providers do not charge a fee for carrying out a balance transfer. Cheers.
I had an HSBC credit card,I canceled it one year ago. Am I eligible for balance transfer. Is there any balance transfer fees?
Hi Mazharul. the HSBC balance transfer terms and conditions say that a balance transfer must be a for a new HSBC credit card from a non-related HSBC credit card. HSBC currently do not charge a fee for carrying out a balance transfer. Thanks for your question.
Hi There,
Is there an administration fee with this credit card? If so, does the admin fee only apply to the balance transfer amount?
Hi Amber. Thanks for your question. There is no fee for processing a balance transfer to the HSBC Credit Card.
I just ‘successfully’ applied for a HSBC Credit Card BALANCE TRANSFER, but noticed when I got through the whole process, it said I am getting a NEW credit card.
I DO NOT want a new card with another limit….I want to transfer my 2 other credit card balances over to HSBC!!!!
Can someone please ring me on (0412) 330312, or reply urgently by email.
I will send the card back if it is not a Balance Transfer card…I do NOT want any more debt!!!!
Hi Lynda. You will have to contact HSBC directly if you feel you have an issue with your card; however, we may be able to help. In essence, a balance transfer credit card is a new credit card. It works the same way as any other credit card, only it comes with a low, or no interest promotion when the card is first activated. When you apply for the card, you should have been prompted to enter details about any debt you wish to consolidate through a balance transfer as according to the HSBC terms and conditions, to be eligible for the introductory promotional balance transfer interest, requests for a balance transfer must be made at the time of application. I hope this has made things clearer.
What is the interest on the Balance transfer amount charge at once the 8 month interest free period is over
Hi Sarah. At the end of the balance transfer period, the interest rate reverts to the cash advance rate, currently 21.99% p.a.. Thanks.
HI JUST WANT TO KNOW WHERE TO MAKE REPAYMENTS FOR CARD IS THERE A BANK OR POST OFFICE?
Hi Rosanna. Thanks for your question. This card can be paid either at a HSBC branch or at an Australia Post Office. There is a HSBC Payment Fee of $2.95 (via PostBillpay) charged when you make a payment at Australia Post
Is there any insurance on purchases made with the card
Hi Joanne. There are no value adding benefits like complimentary insurances offered with this card. Generally speaking, no annual fee cards have a low rate and are inexpensive to maintain but lack additional features like a rewards program or complimentary benefits; these features are more common among frequent flyer credit cards, rewards cards and platinum and gold credit cards. Thanks for your question.
Hi,
My parents are retired. They have a HSBC account. Can they still apply for this credit card even if they don’t have minimum $20,000 income?
HI David. If the applicant does not meet the stated income requirement for a particular credit card, they will not be approved. Please refer to our low interest credit card comparison page for further information – these cards have the lowest entry requirements for potential applicants. Thanks for your question.
If I am on centrelink payments (parental payments), but my partner works, will I be able to get a balance transfer from my NAB Gold to this citibank card?
Hi Amy. This card is offered by HSBC. Your partner’s income has no bearing on your credit card application unless you are applying for a joint account credit card. Your eligibility for this credit card will depend on whether you meet the minimum income requirement, currently $20,000 p.a. If you’re eligible for this card, then you will be able to carry out a balance transfer from your old credit card. Thanks.
The application date on the form is 31st oct. Are all offers still available?
Hi Scott. Thanks for your question. Typically, you are eligible for the offer that was current when you applied for the card. Cheers.
Hi. What are the transfer fees for the balance transfer?
Thanks
Hi Tarryn. Currently there are no fees for balance transfers. Thanks.
How long does it take my pre approve card to be approve and how long does it take to get the card can it be within 10 day? Caz I’m going on holiday
Hi Nancy. Thanks for your question. please allow up to two weeks to receive your card. Typically it will take about 10 business days to get your card. Cheers.
Hello,
I have a CBA Mastercard and have always paid the balance in full at the end of each month, however I haven’t been working for 6 months, so I have just been paying the monthly repayments. I have just started a job and have been there 3 weeks, my annual salary in 72K. I am committed to putting anything between 2-3K onto my credit card each month, but don’t want to pay the interest that I am currently paying. I current owe 8K. If I were to apply for a credit card with HSBC and transfer the balance to give me time to pay it off, would I get approved as I have only been with my employer a short time.
regards,
Charles Frank
0418384233
charlesfrank7@yahoo.com.au
Hi Charles. Thanks for your question. Please read this article on why credit card applications get declined. Cheers.
I am helping to pay off a family member’s credit card. Can I apply for this card to balance transfer from their credit card?
Hi Aaron. Thanks for your question. You won’t be able to transfer the balance from another person’s credit card to one under your name. You will need to get them to transfer the balance to a new credit card taking advantage of the promotional balance transfer rate. Cheers.
When requesting a balance transfer with a credit card that has been just closed can this still take place.
Hi Thomas. A balance transfer usually takes a couple of days to process. If you’re concerned, best to talk to your lender directly. Cheers.
can i pay card on the internet banking
Hi Sue. Thanks for your question. According to HSBC, once you activate your credit card, you can register your card for internet banking. Internet banking will allow you to ‘view your card and account details, pay bills vis BPAY and make payments on your credit card by direct debit to a nominated account.’ Hope this helps.
What is the maximum limit of this Credit Card?
Hi Peter. Thanks for your question. The credit limit is assigned based on the financial information you provide during the application. The lender will assign a credit limit based on what they think you can service. Cheers.
I want to apply for this card but can I cancel my ANZ Visa card towards October next year which I have planned. Please advise if I can apply it now and not used the card until October / November 2013.
Thank you
Hi Nng. Thanks for your question. When you apply for a credit card, the account isn’t ‘opened’ until you activate the card before you first use it. Also if you apply for a balance transfer, you do not have to close the account. You are generally eligible for any promotions that are offered by the provider when you apply for the card, but best to check with ANZ first. Cheers.
What is the current balance transfer fee?
What is the admin fee if any?
Thanks
Hi Sy. Thanks for your question. Currently HSBC do not charge a fee for balance transfers nor is there an annual fee with this card. Cheers.
HI, can I transfer a transfer balance from my husband’s credit card to this card in my name?
Hi Jackie. HSBC do allow this. Thanks.
How much cash advance is available on this card?
Hi Chris. Thanks for your question. Generally there is a cash advance limit of $1000 per day, you can withdraw up to your available credit limit. Cheers.
When I transfer the balance of my existing card to HSBA card would my existing card with the other bank get cancelled automatically?
Hi Udani. Thanks for your question. It’s your responsibility to cancel the old credit card after a balance transfer has taken place. Cheers.
I am on 457 visa, also know as long stay or business sponsorship..
Am i eligible for this card..??
Also can i use this card for balance transfer to any account or only other credit cards..??
Hi Kandarp. Thanks for your question. In Australia if you have a 457 working visa, you must be earning over $50,000 p.a. to be eligible for the HSBC Credit Card and be contracted to work in the country for at least two years. Cheers.
I have personal loan. I was wondering is it better getting credit card to pay off the loan or is a personal loan better?
Hi Tom. If you wish to consolidate the balance of a personal loan to a credit card, you may want to consider a balance transfer with Citibank. According to their terms and conditions: Any account balances from other financial institutions/stores, such as: Visa and MasterCard (all banks) Most store cards (e.g. David Jones and Myer) Personal Loans & Lines of credit’ can be included in a balance transfer – At the time of writing Citibank are one of the few institutions that allow this. Otherwise you may want to check our personal loan debt consolidation page. You can find information on loans that are aimed at helping people consolidate debts. Cheers.
I got all the way to submit and something went wrong with the application. I have an ID number but couldn’t work out how to retrieve it. 2013037000242 Thank you.
Hi Leanne. Can you please speak to HSBC directly. Thanks.
can I apply for a credit card on a seniors pension, no mortgage or outgoings, savings $90k
Hi Peter. If you meet the minimum income requirements as well as the other eligibility requirements, you shouldn’t have any issues apply for a card. Lenders do look for a history of savings in potential applicants, but they focus more on regular deposits into your account from the government and or employer. Thanks.
What date does the promotion offer of 0% on balance transfers end?
Hi Seth. The offer ends on the 31st of March 2013. Thanks.
How long before you transfer the balance. Do I need to activate the card before you can do a balance transfer?
Hi, Jean. Once you’ve request a balance transfer, please allow up to 14 days for the transfer to be processed. This is because your old bank will need to process the paperwork before the funds can be transferred. We had a chat with Julian Potter from Citibank (half way down the page), who answered some common questions about balance transfers. Some of his responses are specific to Citibank; however, questions like ‘how long does a balance transfer take, and what do I need to do to activate my credit card?’ are common amongst most credit cards. Thanks.
Hi there,
I just received my visa card, and just want to find out what the $15 return fee and what percentage for the balance transfer charge.
I found them in the fees and charges section.
Hi Huimin. The balance transfer rate is currently 0% p.a. for 6 months and there is no fee for carrying out a balance transfer. A return fee is also referred to as a dishonour fee, and is charged when you have insufficient funds in an account, say after a direct debit bounces back. If you can please provide further information we can help assist you a little better. Thanks.
Am I allowed to have 5 cards, or more, on the one account, all with varying credit limits? If so, is there any charge for these additional cards?
Hi Sandra. Thanks for your question. You can have a number of additional cardholders, decided upon by HSBC;. They are all linked to the one account and share the same credit limit. There is no fee for each additional cardholder. Hope this helps.
Can a non-permanent resident apply for this HSBC card?
Hello Fareeha,
Thanks for the question.
Some temporary residents are able to apply for this card, as long as they satisfy the other eligibility requirements. Those holding student visas will not be able to apply for this card, although those with a 457 working visa may be able to apply. This will come with a higher minimum annual income requirement so it may best to contact HSBC before applying.
I hope this answers your question,
Marc.
Hi,
Is this credit card available for a company to apply for with say 7 additional card holders??
Regards
Hello Craig,
thanks for the question!
This card is available with a maximum of four supplementary cardholders. In addition, it’s only available for personal use, not business use.
I hope this answers your question.
Marc.
I have applied for a card how do I get a second card for my son?
Hello Allana,
that’s a great question.
To apply for an additional cardholder there’s a simple form that needs to be filled out and sent to HSBC. Simply go to the HSBC website and the application can be found in the ‘forms and documents’ section under the ‘Other information’ subheading of the credit card section.This comes with a 100 point identity check that must be verified at Australia Post. Once these documents and a signed declaration has been verified by an Australia Post verifier, this application can be sent.
If it’s approved there’s a maximum of 10 business days in which the new card will be sent in.
I hope this helps.
I am applied for this card, but was unsuccessful. Can you please explain?
Is it my income? (I earn above the minimum), rental payments?, the amount of the transfer balance? I would appreciate your feedback.
Hi Laurie,
thanks for the question.
There are many reasons why you may have been rejected, and since we don’t know the particulars of your application, calling HSBC directly may help answer your question better. In addition, this page explains the more common reasons why credit card applications are rejected.
I hope this helps,
Marc.
Could you please message via text or email the fax number i am to fax my drivers license and pay slip details to?
cheers
Hello Tuli,
thanks for your question.
It may be useful to call HSBC directly about this matter to find out the correct fax number.
Cheers,
Marc.
I currently have a credit card, of which I have made purchases for my brother, was looking to find a card in which I could transfer the debit into his name with 0% interest.
Hi Anthony. You can transfer the balance from someone else’s name to your own name taking advantage of the promotional rate of interest. To see which institutions allow you to do this, please check our page on this topic. Thanks.
i want to know how much i can transfer before applying. is there a maximum amount to this card?
Gen. HSBC allow you to transfer up to 100% of your approved credit limit. This is set based on the information you supply to the bank — they give you a credit limit based on the size of the debt they think you can service.
1: Can payments be made online to any other (Australian) account from this account by specifying the other account’s BSB and number? If so, is there a charge for doing so, and how much is it?
2: Can regular payments to another account from this account be set up? If so, is there a charge for doing so, and how much is it?
3: Can direct debits be authorised from this account (i.e. each debit arranged by the payee, e.g. a health fund)? If so, are there charges for doing so (at setup and/or for each debit), and how much are they?
5: Are fees charged for paying in cash and cheques? Does it depend on whether it is done at a Post Office, an ATM, or over the counter in a branch? How much in each case?
6: Are fees charged for withdrawing cash from an ATM? Does it depend on whose ATM it is?
7: Is there any problem with keeping a positive balance in the account?
8: Can this account be used to make PayPal payments?
9: Can this account be used for online payments in general (e.g. iTunes)?
Hi Alex. Thanks for your questions:
1/2: No, you can’t transfer from your credit card account to another Australian account via online banking EFT. You can transfer from your HSBC credit card account to your transaction account and then to another account; however, this is considered a cash advance (interest + C.A fee)
3: Direct debits can be set up by call the company in question and set an automatic payment – fees and charges are set up on the receivers end. HSBC don’t charge a surcharge for a direct debit; however, the receiving company may do so – check with them.
4. Paying cash at a post office will incur a charge if you pay in branch it’s free of charge.
4. Cash advance fee – 3% or $4 is charged if you’re using your available credit to withdraw cash from an ATM – this does not apply if you have a positive balance.
5. HSBC ATMs will not incur an ATM handling fee. Most other ATMs will charge a fee when you withdraw cash. This fee depends on the ATM provider.;
6. You can a credit card linked to your paypal account to make payments.
7. This account can be used for general online payments and will incur the purchase rate of interest (excluding interest free days).
Let us know if you would like more information.
applied about a month ago heard nothing???
Hi Luke. Thanks for your question. Sometimes applications can ‘slip through the cracks’ — so to speak. If you don’t get an immediate response from the lender, contact them as soon as possible. Call HSBC to check on the status of your application. Have your application reference number handy. Jacob.
HSBC fails to make clear that there is still a minimum monthly repayment on balance transfers even though it says its 6 months interest free. Guess the offer was too good to be true. 6 months no repayment no interest – not likely here!
Hello, I’m just wondering what the fee is for a balance transfer?
Hi Spencer. Thanks for your question. There’s no fee for carrying out a balance transfer for a new card. Fees are introduced and removed by institutions occasionally. See the review and application page for relevant fees and charges. Jacob.
Application completed, requested to re submit. Please confirm how to re submit.
Regards
Hi Mark. Thanks for your question. If you had to print off a form, you will have to fax this in. Please contact HSBC directly for further information about this. Jacob.
how does the 55days interest free work if on your fees page it states: Interest Charged From: Purchase Date
can you please clarify
Hi Tekin. Thanks for your question. Interest charged from purchase date excludes any interest free days you am be eligible for. You have to pay your balance in full each statement period to get interest free days otherwise interest is charged from the purchase date. Jacob.
I want to transfer my CITI credit card to this one. I am in debt around $4.000. My annual income is around 40.000. Is this possible to be done and what is the process of doing this, If I am eligible.
Thanks.
Hi Daniela. Great question. For information on balance transfers, check this video on balance transfer basics.
This video explains what you need to do after a balance transfer.
And this video shows how the online application process works. Let us know if you have any further questions. Jacob.
When using the card overseas either for credit or a cash advance is there a transaction fee charged?
Hi Helen. Good question. Most cards have a foreign currency conversion fee. Check this page to see the fees for each provider. If you’re looking to compare options for accessing your money while you’re overseas, please check this page. It compares credit cards, travel money cards and savings accounts that are good to use overseas. Let me know if you have any more questions. Jacob.
What are the loyalty programs, interest rate and fees with the HSBC credit card?
Hi Henry. Thanks for your question. Please check the product review and application page for a list of the most up to date rates and fees, you can find this information at the top of the review page in the product table and at the bottom of the review page in the fees table. There is no loyalty or rewards program with this card. Jacob.
I am 69 years old and receive $20 000 pa on aged pension and $5500 from uk pension, I live with my daughter and have no expenses only food approx $80 per week, I would like to apply for a credit card or personal loan for $ 6500 would I qualify please email my daughter . Regards beryl
Hi Beryl. Thanks for your question. Check the minimum income requirement at the bottom of the review and application page for information on how much you have to be earning to apply for this card, but it looks like you meet this criterion. And by the sounds of it, you’re over 18 too ; ) – Some information about your credit limit. You can elect for a certain amount of credit during the application process, in your case $6,500; however, whether or not you end up getting this amount is up to the lender. They will have the final say on you credit limit as they assign a limit based on the size of the debt they think you can service. Your expenses are minimal so this will work in your favour. During a credit card application, you’re required to list things like your assets, income, liabilities and expenses, so please be sure to put down everything you can think of that will support your application. The only other thing I could add is that you have a look at your credit file. A credit file is a record of your financial history and includes things like bankruptcies, defaults, and every time you have applied for credit. A credit card requires that you have a good credit rating, and missed payments with phone or Internet bills, for instance, is one of the reasons why people get knocked back. If you would like to consider a personal loan, please head to our site, PersonalLoanFinder.com.au, where you can compare personal loan products. This page from PersonalLoanFinder.com.au has information on how a pension can access a loan. I Hope this helps. Let me know if you would like more information. Jacob.
I am wondering how much I would be able to get on the credit card if I went ahead and applied? I work full time as a teacher and I am planning on getting laser eye surgery and therefore need to be able to have $6,000 on a credit card to pay the surgery in full on the day.
Thanks
Hi Lucie. Thanks for your question. You can elect to get a specific limit on your card; however, how much you get is really up to the bank. They will asses your situation based on the financial information you provide to them during the application. It’s extremely difficult to speculate on what a person’s credit limit will be, as banks and lender have their own internal systems that make that assessment. Please let me know if you need more information about this. Jacob.
I am an existing customer with this card. Can I use it to do a balance transfer at 0% ? Or is the offer only open to new customers ?
Hi George. Thanks for your question. This offer is available to new customers only. If you’re looking to take advantage of the low, promotional rate of interest, you will need to apply for a credit card that is not related to your current banking institution. You can compare balance transfer options here. Jacob.
In the middle of applying for this credit card which has been quite the frustrating experience. (Chose it based on the website!) The description makes it sound like most of the application experience is online, however you need to follow this up with required faxes (which I don’t believe most people have easy access to these days- No email option), a visit to the post office for the 100 point ID check, and have just been requested for another letter to fax to confirm an address (even though this included at the 100 point ID check stage which was passed). The card does sound like a good deal but if I’d been aware at the start that I would need to make so many follow up actions, I would have simply chosen one of the other credit cards a bank branch so that I could get it wrapped up in one move.
Hi Step. Thanks for writing in about this. All I can say is that if you’re current address does not match up to what the bank has in their system, they will need to verify it. I’ve been staying in share houses for the last couple of years and moving around a bit, so I had this problem too. Also, did you use your driver’s licence as your main identification? If the address on your licence does not match up to the address you entered on your application, the bank will ask for further verification. As for sending faxes instead of emails, your guess is a good as mine? It may have something to do with security or maybe the systems at the banks are antiquated? Hope thing work out better for you next time – let me know how it goes. Jacob.
Does this card have a rewards program attached to it?
Hi Raffaele. No it doesn’t. Check this page for a comparison of rewards credit cards. Jacob.
How do I know my credit card application details? Please tell me and contact me?
“Hi Sumangala. Thanks for your question.
Please check our page on this topic for an answer – ‘how to check on your credit card application‘ – Jacob.