Your rewards with HSBC Visa Infinite Credit Card increase as your tenure with the card goes up. The reward accrual is as follows
The air miles are credited to your account in the form of HSBC Rewards Points. These reward points are valid for 3 years from the beginning of each year. To convert these points into air miles you need to join the HSBC Mileage Programme with an annual fee of S$40 plus GST.
Paying for your travel tickets and hotel bookings with HSBC Visa Infinite Credit Card gives you complimentary travel insurance up to US$2 million, not only for yourself but also for 1 of your family members travelling with you. The coverage offered is extensive, as listed in the table below
|Accidental death and total permanent disability while travelling on public transport||Up to US$2 million for the cardholder Up to US$1 million for adult family member Up to US$30,000 for child|
|Accidental death and total permanent disability while on land||Up to S$100,000 for the cardholder Up to S$100,000 for adult family member Up to S$15,000 for child|
|Medical expenses abroad||S$100,000|
|Medical expenses in Singapore after the trip||S$10,000|
|Overseas hospitalisation allowance||S$5,000 (S$200 per day per person)|
|Hospital visit/child care benefit outside Singapore||S$1,000 for each benefit|
|Special grant upon death while abroad||S$1,000|
|Emergency medical assistance & evacuation/medical repatriation/repatriation of mortal remains/compassionate visit||S$250,000|
|Trip cancellation||S$10,000 (S$4,000 per person)|
|Travel delay||S$1,000 (S$100 every 8 hours per person)|
|Baggage delay||S$1,000 (S$500 per person)|
|Missed flight connection||S$800 (S$400 per person)|
|Baggage loss||S$5,000 (S$1,000 per person)|
|Shortening of trip||S$5,000|
|Trip diversion||S$500 (S$50 every 6 hours per person, S$100 every 6 hours per family)|
|Loss of travel documents||S$400 (S$200 per person)|
|Trip postponement/replacement of traveller||S$300 (S$150 per person) for each benefit|
|Rental car excess||S$2,000|
Under the HSBC Card Balance Conversion Plan, you can convert large purchases such as gadgets, flight tickets, car down-payments, etc. into monthly instalments. This means that you can spread out your expense without additional interest over up to 12 months, instead of buying it in one go and paying interest for it for a long time. The transaction you wish to convert to this facility should be worth at least S$500 per payment. However, purchases converted to this scheme are not eligible for HSBC reward points or air mile accrual. The processing fee charged under this plan is
To avail this scheme, you need to contact the bank within 30 days of purchase, or 14 days from statement date, whichever is earlier in one of the following ways
|Annual fee||S$488 for premier customers, S$650 for non-premier customers|
|Supplementary card fee||Nil|
|Interest rate (annual)||25%|
|Late payment charges||S$55|
|Cash advance fee||5% or minimum S$15, whichever is higher|
|Interest on cash advance (annual)||28%|
|Interest-free period||20 days|
The annual fees can be offset if premier customers have 120,000 HSBC points in their account in a year, and non-premier customers have 160,000 points.
When you use your credit card overseas, the payment is either converted to the relevant foreign currency at the day’s exchange rate of Singapore dollars to that currency, or paid by using a dynamic currency conversion available in selected ATMs/stores. A nominal administrative fee is applicable in these transactions. Transactions in foreign currency inside or outside Singapore, as well as those in Singapore dollars outside the island, are subject to 2.5% administrative fee – 1.5% charged by HSBC and 1% by Visa.
HSBC allows its primary credit card members to borrow money from their credit cards in case of emergency under the Cash Instalment Plan. You can get cash advance in 3 ways
The maximum amount you can borrow is 90% of your available credit limit, while the minimum amount is S$1,000. Among the applicable charges are a cash advance fee of 5% (minimum S$15) and a maximum interest rate of 28% (which is applicable only if you are unable to pay your instalments every month on time). You can repay the amount over a period of 12-36 months. IF you wish to end the cash instalment plan before the end of your chosen tenure, you will be charged S$100 as termination fees in addition to the complete repayment amount required. The effective interest rate for each tenor is listed in the table below
|Duration of loan||Effective Interest Rate||Processing fee|
HSBC Visa Infinite Card can be availed only by invitation from the bank.
The minimum income requirement is not available because this is an invitation-only card.
The minimum amount you need to pay every month is 3% of the outstanding balance or S$50, whichever is higher, in addition to any overdues from the previous month and any amount above your credit limit that has been used.
Bills can be paid in one of the following ways
The Association of Banks in Singapore (ABS) specifies that your lost/stolen card liability is only S$100 if fraudulent transactions have occurred on the card after you lost it. But to avail this benefit, you need to report your card loss to the bank immediately and prove that the loss was not due to your negligence or intentional deceit.
When you lose your card, or it gets stolen, or someone forces you to disclose the PIN, the first thing for you to do is to inform HSBC through customer service hotline or phone banking. If the card has been stolen, you need to inform the police and produce a copy of the official complaint to the bank.