» HSBC Credit Cards Review
Searching for HSBC credit cards? In the USA, HSBC Bank offers a standard card for private banking customers with fairly generous terms to suit more affluent cardholders’ lifestyle and individual financial requirements. Business cards are also available.
Standard Card Offer to Private Banking Customers:
The HSBC Premier World MasterCard is a reward card aimed at affluent frequent travelers; the card comes without foreign transaction fees on card purchases made in a foreign currency and allows customers to earn double points on all new net purchases during the first six months of their becoming a member. Overall members can earn 1 point for every dollar they spent net on purchases without any earnings cap or expiration of special offers.
In addition there are flexible awards that cover dining out, travel – including package holiday offers – entertainment, shopping and even cash back. The card doesn’t have a pre-set spending limit but is only available to customers who hold an HSBC Premier checking account with a combination of $100,000 of ready cash and investments. The APR is 9.99% on purchases and balance transfers. There are no annual fees and no over the credit limit fees either. The cards are issued by HSBC Bank Nevada and HSBC Bank USA.
As a Premier customer one can also obtain up to $2,000 emergency cash and additional cards with pre-set limits can be issued to designated family members. In case the card is stolen or lost there is a next-day worldwide replacement service for the cardholder and all family members who are also cardholders.
Standard Card Offer to Business Customers:
Aimed at those who wish to improve their cash flow with an additional line of interest-free credit, the card offers pretty generous terms. The MasterCard Business Card from HSBC can be styled in an individual way with either business name or employee name printed on the front and offering spending limits of up to $25,000, depending on financial status. Each user receives a monthly statement so that business expenses can easily be reconciled at the end of each month. There is even a free end-of-year summary statement to help companies with the administration of their credit card spending.
As an additional option there are business cards that earn rewards on purchases for the company. The points can be redeemed on useful categories like free air travel, gift cards to restaurants, at retailers, cruises and for leisure like sports activities. This additional credit card offer attracts a fee of $25 per annum for each account. As an incentive the card comes with a generous 0% interest for the first 6 months and after that the rate rises to 13.24% APR. This rate seems to be applicable only to desirable Premier customers, while a less generous 21.24% APR is charged for companies that do not qualify as Premier customers. The grace period is 25 days from the billing cycle closure.
The HSBC Corporate Card has lower processing and tracking costs, provides more detailed information on transactions performed and has additional fraud and misuse protection.