HSBC, a reputed financial service provider, is one of the major banks to offer various types of credit cards to its customers. Your lifestyle decides what kind of card is most useful for you. HSBC provides a variety of credit cards that could be used to save on your lifestyle needs like golfing, visiting resorts, staying at hotels and relaxing at spas.
Can HSBC Credit Cards Help you Save More on Your Lifestyle?
HSBC offers the following cards in the lifestyle category:
These credit cards offer many lifestyle benefits to customers. Let us look at the features of HSBC lifestyle cards:
- Golfing privileges: The card offers a discount of up to 30% on selected golf clubs. Additionally, at Sentosa Golf Club, you get complimentary green fees along with a golfer’s insurance coverage of up to S$500,000. This coverage applies worldwide.
- Home & Away privileges: This privilege is available on all HSBC lifestyle credit cards. When you are on a trip, you could end up saving a lot on accommodation, which is one of the major expenses incurred during a trip. This perk can be enjoyed at more than 27,000 outlets. This coverage applies worldwide.
- Other privileges: You could enjoy a limousine transfer from any location to Changi airport with a chauffeur at your service. There is also unlimited access to VIP lounges at various airports around the world. HSBC concierge service provides you with customised assistance, whenever you call them. You could also get exclusive dining privileges on this card.
- Annual fee waiver: There is a lifelong waiver on the annual fee if you are a Premier Banking customer. The card can only be obtained if you are a Premier Banking member.
- Golfing privileges: It offers a discount on green fees along with a golfer’s insurance coverage of up to S$500,000. This coverage applies worldwide.
- Other privileges: It promises a travel insurance of up to S$1 million and discount on rides through Uber even when abroad. You also get personalised check-ins and access to airport lounges at selected places. You can also enjoy rebates of up to 2% at selected outlets in Singapore.
- Annual fee waiver: There is a waiver on annual fee for the initial 2 years.
- Golfing privileges: You will receive a discount on green fees along with a golfer’s insurance coverage of up to S$500,000 worldwide.
- Other privileges: You can get up to 5 times the rewards when you transact at selected restaurants, bars and pubs in Singapore, apart from higher rewards for online transactions and dining.
Fees and charges
Here is a list of the fees and charges for the above-mentioned HSBC lifestyle cards:
||Fees and charges
|Annual fee for the HSBC Premier MasterCard
||No annual fee
|Annual fee for the HSBC’s Revolution Card
|Annual fee for the HSBC Visa Infinite Card
|Effective interest rate
|Cash advance fee
||Either S$15 or 6% of cash advance amount, whichever is higher.
|Late payment fee
|Foreign currency transaction fee
||2.5% of the transacted amount
- The minimum age of application is 21 years.
- There is no restriction of nationality for applying for HSBC cards.
- Annual income eligibility for HSBC Visa Infinite Card is that your annual income should be more than S$120,000.
- You may apply for HSBC Premier MasterCard only if you are an existing HSBC Premier customer. You need to invest a minimum of S$200,000 as investment, deposits or insurance to form an HSBC Premier relationship.
- Annual income eligibility for HSBC Premier MasterCard is S$30,000 p.a. (Singapore citizens and Permanent Residents) and S$40,000 for and foreigners and self-employed people.
- If you are a Singaporean or PR earning S$30,000 p.a. or are self-employed or a foreigner with a yearly income of S$40,000 or more, you are eligible to apply for HSBC’s Revolution Card. You could use a fixed deposit account of S$10,000 as collateral, in case you do not fall in the bracket of the above mentioned annual income.
- Salaried persons require to submit the following:
- A photocopy of the NRIC
- A copy of eCPF
- A copy of payslips for the last three months or latest tax bill.
- Self-employed people need to submit the following:
- Notice of Assessment of the last 2 years
- A photocopy of the NRIC.
- Foreigners need to submit the following:
- A photocopy of your valid passport
- A Notice of Assessment of the last 2 years.
- A copy of payslips for the last three months
- A copy of your valid employment pass
How to apply?
To apply for an HSBC Visa Infinite Card, you can click on “Express Interest” on the web page of HSBC. You could also apply for the Visa Infinite, Revolution Card directly through BankBazaar.sg. For all the other cards, you could visit the website of the bank and apply for the card. Alternatively, you could visit any HSBC branch to apply.
How to cancel?
You may cancel a card by contacting the bank and requesting them to close the account linked to your credit card. You may be asked to destroy the card to prevent misuse. Even if the bank has requested you to cancel your card or has cancelled it at its discretion, you are supposed to destroy it and return it to the bank.
Before destroying and returning the cards, you must pay off all the balance you owe before cancellation or closure. The bank may cancel your card for various reasons such as cases of fraud, using the card for purposes other than what it is intended for, and in cases of bankruptcy, legal issues or death.
With a range of cards from HSBC to choose from to suit your lifestyle needs, it is necessary to consider the benefits and advantages of each to pick the right one for you.