Shopping credit cards are amongst the most popular category of credit card among Singaporeans, as these credit cards reward your shopping experiences in the form of cashbacks, discounts, vouchers or reward points. There are many banks in Singapore that offer Shopping credit cards to Singaporeans, Permanent Residents and foreigners. Among the banks that offer these types of credit cards, HSBC is one of them.
HSBC has a wide range of credit cards to offer and its credit cards fall under different categories that include travel, shopping, groceries, entertainment and dining, among others. If you are somebody who is looking to make your shopping experiences more eventful than ever, you might want to choose a shopping card from HSBC, as the bank offers HSBC cards that come loaded with excellent features indeed. Let’s go ahead and take a look at some HSBC Shopping Credit Cards.
HSBC Shopping Credit Card Promotions
- Sign-up for the HSBC Revolution Credit Card or the HSBC Advance Card and get a cashback of S$120 or the HSBC Gold Class Movie Card worth S$138.
- Existing HSBC customers get S$50 cashback plus a cashback of S$20 upon signing up for a supplementary credit card, and S$20 additional cashback for signing up online. The sign-up promotional offers are valid till 31 December 2017.
- Use your HSBC credit card and get additional discounts of up to 7% on Agoda.com. The promotional offer is valid till 31 December 2017.
- Get discounts of up to 15% at Zalora with your HSBC Revolution Credit Card. The offer is applicable to Zalora stores across the Island State and is valid till 31 December 2017.
- Get a discount of 25% when you purchase HSBC’s SmartTraveller travel insurance plan (Single Trip). The offer is valid till 31 December 2017.
Features and Benefits of HSBC Shopping Credit Cards
The HSBC Revolution Card and the HSBC Visa Platinum Credit Card are the two top HSBC credit cards for shopping. Let’s take a look at some features and benefits of these shopping credit cards:
Following are some notable features and benefits of the HSBC Revolution Card:
- All your online transactions, including online shopping, will give you 5X Reward Points when you use the HSBC Revolution Credit Card to make purchases. The feature also covers expenses pertaining to online purchase of tickets and online entertainment and food orders, besides shopping.
- The 5X Reward Points you earn when you use the card to make purchases online is equivalent to two air miles. You can redeem these miles under various frequent flyer programmes.
- All your transactions that relate to entertainment will earn you 5X Reward Points again. Also, dining transactions with the HSBC Revolution Card will earn you 5X Reward Points.
- All other transactions you perform using your HSBC Revolution Credit Card will earn you 1X Reward Points.
- You can collect reward points and redeem them for some exciting privileges and benefits in the form of vouchers, air miles and cash rebates from the HSBC Rewards catalogue.
- One of the highlights of the HSBC Revolution Card is that your reward points don’t expire – you can redeem any number of reward points. There is no cap on the number of points you can earn, and there is no minimum spend criterion that needs to be met.
- You can use your credit card to make cash withdrawals from ATMs. Cash withdrawals will attract a cash advance handling fee and interest charges that are levied at a compounding rate.
- You can pay your bills in an easy and convenient manner. Bill payments can be made through the HSBC mobile banking application or through internet banking.
The HSBC Advance Card is another great card for shopping. This is predominantly a cashback card that gives you cashbacks on all purchases you make with your credit card. Here are some notable features and benefits of the HSBC Advance Credit Card.
- The card gives you 3.5% cashback on all expenses incurred on it. This covers shopping – both online and offline – entertainment, dining, grocery shopping, retail purchases and more.
- In order to enjoy the maximum benefits of the cashback, you are required to spend a minimum of S$2,000 a month. If you have an Advance Banking relationship with HSBC, you can earn additional cashbacks on purchases.
- The cashback amount on the HSBC Advance Credit Card is limited to S$70 per month. For HSBC Advance Banking customers, the cashback limit is S$125 per month.
- You can use the HSBC Advance Credit Card to perform balance transfers. Interest rates are low and start at 0.8% for a 6-month period.
- With the Advance Card, you can enjoy fuel discounts of up to 16% at Shell stations and Caltex stations across the Island State.
- The annual fee for the Advance Card is waived for the first year.
- You can use your credit card to make emergency cash withdrawals. The cash withdrawal limit is generally 30% of the total available credit limit. Cash withdrawals attract handling charges and interest charges.
- You can auto-charge your recurring monthly bills with your Advance Card.
Interest Rates on HSBC Shopping Credit Card
The interest rate on HSBC Credit Cards is 25.9% p.a. This interest is congruent across HSBC credit cards.
The interest rate for cash advances is 28% p.a. Also, an additional cash advance fee of 6% of the amount withdrawn will be levied. Cash advance interest charges will be levied at a compounding rate of interest every day until the amount is repaid in full.
HSBC Shopping Credit Cards Fees and Charges
|HSBC Revolution Card
||Principal card - S$160.650 (first 2 years’ fee waived)
|HSBC Advance Credit Card
||Principal card - S$192.60 (first year fee waived)
|Cash advance fee
||6% of the amount withdrawn with a minimum charge of S$15
|Interest on cash advance
|Late payment fee
|Lost or stolen card liability
Eligibility Criteria for HSBC Shopping Credit Cards
In order to apply for these credit cards, the following eligibility parameters need to be met:
Minimum age: 21 years of age
- Minimum income:
- Singaporeans & Permanent Residents: S$30,000 p.a.
- Foreigners: S$40,000 p.a.
Documents required for HSBC Shopping Credit Card
- Salaried individuals:
- Copy of NRIC, latest computerised payslips, CPF statement.
Self-employed individuals and individuals with varied income:
- Copy of your NRIC, CPF Statement obtained using your SingPass ID, latest computerised payslips.
- Copy of Passport, proof of employment from employer, Employment Pass, latest computerised payslips.
How to apply for an HSBC Shopping Credit Card
If you wish to apply for an HSBC Shopping Credit Card, you can visit the Bankbazaar page and fill out the online application. Once this is done, your application will be processed and reviewed.
How to cancel an HSBC Shopping Credit Card
If you wish to cancel an HSBC Shopping Credit Card, you can contact the HSBC bank’s credit card hotline number and inform the bank about your interest in cancelling your credit card. You might also be required to provide information on the same in writing. The bank will subsequently cancel your card, preventing any further transactions from taking place. You will, however, have to pay any outstanding interest or principal amount.