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    HSBC Visa Platinum Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Promotions

    • Agoda – Enjoy discounts of up to 75% on hotel bookings + an additional discount of 7% across worldwide destinations. This is an ongoing promotion that is valid until December 31, 2017.
    • FarEastFlora.com – Enjoy discounts of up to 15% on Hand Bouquets, Box of Blooms, Scent & Sensuality, Food & Tonics and more. Use promo code, “HSBC2017” to redeem this discount. This is an ongoing promotion that is valid until December 31, 2017.
    • Be My Guest – Exclusive promotion to Visa cardholders where you can get discounts of up to 59% on tours, attractions and activities. This is an ongoing promotion that is valid until December 31, 2017.
    • Europcar – Enjoy 15% discount on your car rentals across the world. Visa Platinum Credit Cardholders will also enjoy complimentary compact to intermediary model upgrades. This is an ongoing promotion that is valid until December 31, 2017.
    • HipVan – Enjoy a storewide discount of 10% on using the promo code, “10HSBC” followed by the first 6 digits of your credit card number.

    Sign-up promotion

    New customers as well as existing customers of HSBC are eligible for the sign-up promotion when applying for this credit card in the following way:

    • New customers – Choose between a cashback of S$120 and an HSBC Gold Class Movie Card.
    • Existing customers will get a cashback of S$50.
    • All customers:
      • Sign up for a supplementary credit card and get additional cashback of S$20.
      • Apply for this credit card online and get additional cashback of S$20.

    Terms and conditions:

    • New customers are refereed to those who have not cancelled an HSBC Card in the past 12 months.
    • To enjoy cashback of S$120 or an HSBC Gold Class Movie Card (new customers) or S$50 (existing customers), a minimum spend of S$600 within 1 month of credit card approval is required.
    • To get the online application cashback of S$20, you must submit the application and upload all supporting documents online.

    Features of the HSBC Visa Platinum Credit Card

    • The annual fee for the card is waived for the first two years.
    • The annual fees for the supplementary card is perennially waived.
    • Reward points can be accumulated on the Principal Card as well as the Supplementary Card.  

    Benefits of the HSBC Visa Platinum Credit Card

    • The HSBC Visa Platinum Card lets you make payments in a swift, convenient and secure manner through Visa PayWave. Payments through Visa PayWave are accepted by several popular merchants.
    • The HSBC Visa Platinum Credit Card lets you withdraw cash at domestic and overseas ATMs. Cash advances are governed by a cash advance handling fees and interest charges.
    • As a HSBC cardmember, you get the opportunity to avail year-round offers from several participating merchants, making you entertainment, dining and travel experiences even more joyful.

    Fee and charges

    Type of fee Amount payable
    Annual fee S$192.60
    Supplementary card fee FREE
    Interest rate 25% p.a.
    Late payment charges S$55
    Cash advance fee 6% of the withdrawn amount OR S$15 (depending on whichever of the 2 is higher)
    Interest on cash advance 28% p.a.
    Overlimit fee S$40

    Transactions in foreign currencies

    • Foreign currency transactions will attract a currency conversion fee of 1.5%.
    • All foreign currency transactions that aren’t in USD are first converted to USD before they’re converted to SGD.
    • Currency conversion and administrative charges will be levied after the conversion to SGD.

    Cash withdrawals

    • The HSBC Visa Platinum Credit Card can be used to make cash withdrawals from overseas and domestic ATMs.
    • A cash advance handling fee of 5% of the withdrawn amount will be charged along with interest charges of 28% p.a.
    • Interest charges are levied on an everyday basis (compounding) until the amount is repaid in full.

    How to apply for the HSBC Visa Platinum Credit Card

    You can apply for the HSBC Visa Platinum Credit Card by visiting the official HSBC website and filling out the online application form. After providing necessary information in the online form, an executive from the bank will get in touch with you to take the application forward. The application will be processed after the required documents are submitted and eligibility parameters are met. The time period for processing your application is usually 14 days.   

    Eligibility criteria for the HSBC Visa Platinum Credit Card

    • Minimum age: The applicant must be 21 years of age.
    • Minimum income:
      • Singaporeans & permanent residents: S$30,000
      • Self-employed individuals, Individuals with commission based income, Foreigners: S$40,000
    • If none of these above parameters are met, a minimum amount of S$10,000 has to be maintained in fixed deposits with HSBC.  

    Documents required

    • Salaried individuals:
      • Copy of NRIC, CPF statement obtained through your SIngPass ID, Computerized payslips (last 3 months).
    • Self-employed individuals:
      • Copy of NRIC, bank statement (last 3 months), Notice of Income Tax Assessment (last 2 years).
    • Individuals with varied income:
      • Copy of NRIC, last 3 months bank statement, Income Tax Notice of Assessment (last 2 years).
    • Foreigners:
      • Copy of Passport, Employment pass with minimum 6 months validity, latest computerized payslips (last 3 months).

    Repayments

    You are required to make a minimum monthly payment of 3% of the outstanding amount for the month + overdue/pending minimum payments from previous months + any amount that exceeds the credit limit.

    Lost/stolen card liability

    The liability for lost/stolen cards is S$100. Liability is imposed if customers fail to immediately notify the bank about the loss/theft of their card and unauthorised transactions take place before the bank is informed. Bank usually investigate fraudulent transactions and accordingly determine the liability on customers.

    Reporting lost/stolen credit cards

    Lost/stolen cards can be reported to the bank by contacting the bank’s Customer Service Number and providing card related information and details on recent transactions performed using the card. The bank will subsequently deactivate the card and block all further transactions from taking place on the card. 

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