HSBC offers an array of credit cards to suit different interests of customers. These cards offered by HSBC fall under categories such as rewards credit cards, cashback credit cards, dining credit cards, entertainment credit cards, travel credit cards, and premium credit cards. Premium credit cards offer all-round benefits that are relatively better than many other cards. They are for the elite customers, and for those with an Advance or Premier Banking relationship with the bank. These cards let you enjoy additional reward points (more than other ordinary cards) and enhanced benefits such as better discounts on certain deals and air miles.
HSBC offers two credit cards that fall under the premium credit card category – the HSBC Premier MasterCard Credit Card and the HSBC Visa Infinite Credit Card. Both these cards are loaded with a range of impressive benefits, making them quite attractive to own.
Let’s look at what HSBC’s premium cards have to offer and why they are amongst the most sought-after credit cards.
The HSBC Premier MasterCard Credit Card offers great joining benefits which generally include an awesome luggage and cashback. These joining perks come with a minimum spend criteria.
Cash rebates on purchases:
You will earn cash rebates to the tune of 5% on the categories mentioned below if you spend at least S$800 per month on your card.
Reward Points: The card also gives reward points along with cashback. With every S$1 you spend using your card, you can earn 1 reward point. Reward points earned on purchases and transactions can be converted and redeemed for excellent benefits from the rewards catalogue.
Exclusive travel benefits: This card also gives a wide range of exclusive benefits on travel.
The Visa Infinite Credit Card is a luxury travel credit card. You can apply for the card on BankBazaar.sg. You need to earn S$120,000 to be able to apply for the card.
The Visa Infinite Card is an air miles credit card. For the first year, you will earn 1 mile per dollar spent locally and 2 miles per S$1 spent overseas. From the next year onwards, assuming you spend S$50,000 in the previous year, you can earn 1.25 miles per S$1 spent in Singapore and 2.25 miles per S$1 spent outside the island. In addition, you also receive 35,000 air miles as joining bonus.
Enhanced Reward Points:
You can earn 10 Reward Points per S$1 spent on lifestyle purchases with the card. The feature is applicable to participating merchant brands such as Diesel, MaxMara and Y-3.
As an HSBC VI cardmember, you can enjoy complimentary discounts on green fees all through the year at Sentosa Golf Club. A range of other golfing privileges such as green fee discounts at other clubs and free golfer’s insurance are also available.
The card offers exclusive dining discounts of up to 50% at the Marriott Tang Plaza Hotel and a 15% concession at premier European restaurants in Singapore such as Forlino and Garibaldi.
Concierge services and airport lounge access:
Enjoy 24-hour travel concierge services and free airport lounge access at over 500 destinations across the globe.
The card provides you with an insurance cover of S$2 million. The insurance covers accidental death, personal liability, medical expenses, and travel inconvenience.
|Product/Item||Fees and charges|
|Annual fee for the HSBC Visa Infinite Credit Card||
|Annual fee for the HSBC Premier MasterCard Credit Card||
|Interest rate||25.9% p.a.|
|Cash advance fee||S$15 or 6% of the withdrawn amount, depending on whichever of the two is higher|
|Interest charged on cash advance||28% p.a.|
|Late payment fee||S$55|
|Over limit fee||S$40|
|Foreign currency transaction fee||1.5% of the transacted amount|
|Dynamic Currency Conversion fee||1% of the converted transacted amount|
Note: You have to be a HSBC Premier customer with a relationship worth at least S$200,000 with the bank if you want to apply for the HSBC Premier MasterCard Credit Card. The amount can be in the form of insurance, deposits or investments with the bank.
You can apply for a Premium Credit Card by visiting the bankbazaar.sg website and placing an online request by filling out a few personal and professional details.
If you wish to cancel your HSBC Premium Card, you have two options: either call the HSBC Credit Card Hotline/phone banking number, or log in to your HSBC internet banking. The bank may require you to give a reason for cancelling the card. Once cancelled, it is advisable to cut your primary and supplementary cards into two and dispose of them properly to avoid misuse of the card.