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    HSBC Advance Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    HSBC Advance Credit Card Promotions (Updated 2017)

    • Zalora - Spend a minimum amount of S$100 and enjoy a storewide discount of 15%. Use promo code “HSBCZ”. This promotion is valid until December 31, 2017.
    • Ezbuy – New customers will receive an Ezbuy voucher worth S$10 to use for their first purchase. There is no minimum spend requirement. Upon registering your credit card, the voucher will be credited to your account. This promotion is valid until December 31, 2017.
    • Redmart – New users of Redmart will get a discount of S$18 plus free delivery of their order upon spending at least S$100. Use promo code “HSBC2017”. This promotion is valid until December 31, 2017.
    • Spa Rael – 15% discount on a la carte spa services to local as well as overseas customers. Customers should be at least 21 years of age. This promotion is valid until March 31, 2018.
    • Gusto Italiano & Asian Masters – 15% discount on a la carte food bills. This promotion is valid until December 31, 2017.
    • Swensen's – 10% discount on all orders. This promotion is valid until December 30, 2017.

    HSBC Advance Credit Card Overview

    Enjoy cashback on all your purchases with no minimum purchase required. Also, HSBC Advance Banking customers will receive additional cashback on all purchases.

    Joining benefits/perks

    Sign up for the HSBC Advance Credit Card today and receive the following sign-up gifts:

    • HSBC’s Gold Class Movie Card that costs S$138 OR Cashback worth S$120 AND
    • Sign up for a supplementary credit card and get another S$20 cashback AND
    • Sign up for the HSBC Advance Credit Card online and get another S$20 cashback.

    Terms and Conditions:

    • S$120 cashback is applicable to new HSBC customers only.
    • Existing HSBC customers will get S$50 cashback.

    Features of the HSBC Advance Credit Card

    • Annual fee waived for the first year.
    • Perpetual annual fee waiver for HSBC Advance Banking customers.

    Rewards Programms

    • What you get:
      • Up to 2.5% cashback on all purchases.
      • HSBC Advance Banking customers will additional 1% cashback on all purchases.
    • How to redeem:
      • If you have an Advance Banking Relationship with HSBC - 2.5% cashback will be awarded for monthly spend of S$2,000 and below. 3.5% cashback will be awarded for monthly spend of above S$2,000.
      • If you don’t have an Advance Banking Relationship with HSBC - 1.5% cashback will be awarded for monthly spend of S$2,000 and below. 2.5% cashback will be awarded for monthly spend of above S$2,000.
    • Charges and details:
      • No minimum purchase requirement to earn cashback on this credit card.
      • Cashback cap of S$70 per month will be applicable to non-HSBC Advance Banking customers.
      • Cashback cap of S$125 per month will be applicable to HSBC Advance Banking customers.

    Fees and charges on the HSBC Advance Credit Card

     Type of fee Amount payable
    Annual fee for non-HSBC Advance Banking customers S$192.60 (First year fee waiver)
    Annual fee for HSBC Advance Banking customers S$0 (Perpetual annual fee waiver)
    Effective Interest rate 25.9% p.a. (Minimum charge of S$2.50) starting from August 1, 2017.
    Late payment charges S$55
    Cash advance fee 6% of the withdrawn amount OR S$15 (depending on whichever of the two is higher)
    Interest on cash advance 28% p.a. (Minimum charge of S$2.50)
    Over Limit fee S$40
    Card replacement fee (upon loss/theft) S$20
    Lost/Stolen Credit Card liability S$100

    Charges for Foreign Currency Transactions

    • An administrative fee will be levied by HSBC on all foreign currency transactions. The fee charged is 1.5% of each of your foreign currency transaction amount.
    • Additionally, VISA imposes a charge of 1% on all transactions made in foreign currency.
    • If you convert your credit card transaction using Dynamic Currency Conversion or DCC, your transaction will be subjected to an additional charge of 1% on your transaction amount.

    Charges for Cash Withdrawals

    • Every cash withdrawal made using your HSBC Advance Credit Card will be subject to a fee of S$8 at any MasterCard or Cirrus ATM Networks or any VISA or PLUS ATM Networks. This S$8 fee does not include cash withdrawals that you make at shared Singapore (HSBC) atm5 networks, Singapore Branch of Bank of China Limited, Standard Chartered and State Bank of India (Singapore) Ltd., Citibank Singapore Limited.
    • You can make maximum cash withdrawal of S$1,000 per transaction.
    • You can make maximum cash withdrawal of S$2,000 per day.

    How to apply for HSBC Advance Credit Card

    You can contact the bank in the following ways to apply for an HSBC Advance Credit Card:

    • You can call the bank at 1800 – HSBC NOW, i.e. 47722 669.
    • You can send an email to the bank at [email protected]
    • You can provide your personal and contact details on the bank’s ‘Contact Form’ available on the official HSBC Singapore website. A representative from the bank will get in touch with you in 3 business days.
    • You can alternatively send an SMS to the bank in the following format – “HSAPPName”. Send this SMS to 74722.
    • Walk into your closest HSBC Bank Branch, speak to a member of the staff and apply for the HSBC Advance Credit Card in person.

    Eligibility Criteria for HSBC Advance Credit Card

    You must meet the following eligibility criteria to apply for the HSBC Advance Credit Card:

    • Minimum age – 21 years.
    • Minimum annual income:
      • Singapore citizens and Permanent Residents – S$30,000.
      • Foreigners and self-employed applicants – S$40,000.
    • In case you don’t meet the minimum income criteria mentioned above, you can still apply for this credit card if you offer the bank a Fixed Deposit Collateral of minimum S$10,000.

    Documents required for HSBC Advance Credit Card

    The following documents must be submitted to successfully apply for an HSBC Advance Credit Card:

    Singapore Citizens and Permanent Residents must submit:

    • A front and back copy of your NRIC.
    • Salaried employees must submit:
      • An eCPF statement through HSBC’s online portal for which your SingPass will be required. The link to the online portal is available on HSBC’s Singapore website AND
      • Computerized payslips for the last 3 months OR
      • Income Tax NOA (Notice of Assessment) for the last 1 year + computerized payslip for the last 1 month.
    • Self-employed and commission based employees must submit:
      • Income Tax NOA (Notice of Assessment) for the last 2 years.
    • If your address on the NRIC is different than your mailing address - Address proof such as a utility bill, telecom bill, bank statements containing your full name and address must be submitted.

    Foreigners must submit:

    • A copy of your Passport AND
    • A front and back copy of your Employment Pass with a minimum validity period of 6 months when applying.
    • Salaried employees must submit:
      • Computerized payslips for the last 3 months OR
      • Income Tax NOA (Notice of Assessment) for the last 1 year + computerized payslip for the last 1 month.
    • Self-employed and commission based employees must submit:
    • Income Tax NOA (Notice of Assessment) for the last 2 years.
    • Address proof such as a utility bill, telecom bill, bank statements containing your full name and address.

    Supplementary Credit Card Application documentation requirement:

    • Your supplementary credit card applicant’s front and back copy of NRIC.

    Interest on the HSBC Advance Credit Card

    Starting from August 1, 2017, the interest rate on your HSBC Advance Credit Card will be 25.9% p.a. with a minimum charge of S$2.50. If you do not make the full outstanding payment on your credit card statement, the interest rate will start compounding on a daily basis from your transaction date until you make the full payment.

    Finance charges on your purchases will not be imposed if you make full outstanding payments on your monthly statements by the payment due date and you do not carry any balance to your next statement.

    Finance charges will be imposed on your transactions if you make minimum payments or partial payments on your statement balance.

    You will enjoy an interest-free period on your purchases for 20 days from your statement date if you make full outstanding payments on your monthly statements. To enjoy the interest-free period on your credit card, your EIR or Effective Interest Rate must be 0%.

    Repayments

    The minimum monthly payment that you need to make on your credit card statement is 3% of your statement balance or S$50, depending on whichever of the two is higher.

    If your account is over limit, then the minimum due will be 3% of your credit limit + excess amount of your credit limit.

    If you do not make the minimum payment on your statement balance by your statement due date, you will be charged a late payment fee of S$55.

    Lost/stolen card liability

    In case your HSBC Advance Credit Card is lost, stolen or the PIN has been disclosed to a third party, you should inform HSBC Bank immediately regarding the incident. You should provide all relevant information regarding the incident to the bank along with a written confirmation of the loss, theft or disclosure. The bank will launch an investigation after they receive your written confirmation.

    After informing the bank regarding the same, you will not be liable for any future unauthorized or fraudulent transactions on your credit card. Your maximum liability for any such transactions after notifying the bank will be limited to S$100.

    Reporting lost/stolen credit cards

    If you have lost your HSBC Advance Credit Card, it has been stolen or if your credit card PIN has been disclosed to an unknown party, you must call HSBC immediately and report the nature of the incident in the following:

    • Call HSBC on their Hotline Number that is available 24 hours and report the incident.
    • After receiving a written confirmation from you, the bank will launch an investigation. You must assist HSBC in anyway required in the recovery of your credit card.
    • If required of you, you must provide a police report to HSBC or any other information the bank deems fit.

    This will help prove to the bank that the loss of your card was not due to negligence on your part. If you find your credit card after reporting it as lost/stolen, do not continue using the card. You must return it to HSBC after cutting it crosswise into 2 halves. You will be provided with a new credit card and asked to setup a new PIN.

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