HSBC Credit Cards: What US Residents Need to Know Before Applying

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Individuals looking for valuable, versatile, and reliable credit cards may want to look at what HSBC credit cards have to offer. The bank has a selection of credit cards you can choose from, allowing you to get one that suits your wants and needs.

Whether you are a frequent traveler who wants convenient access to funds, or you simply want a dependable card for everyday needs, HSBC has the card for you. You can choose among a variety of cards that offer different worthwhile incentives.

Want to know more? Check out the things you need to know before starting your application.

Features & Benefits of the HSBC Credit Card

HSBC’s offerings are composed of 7 distinct credit cards designed to match the modern lifestyle. Powered by Mastercard, the bank’s credit products are guaranteed to be safe, secure, and efficient.

When you consider getting a credit card from this bank, you can choose from the Gold Mastercard Credit Card, Cash Rewards Mastercard Credit Card, Platinum Mastercard with Rewards Credit Card, Advance Mastercard Credit Card, Premier World Mastercard Credit Card, Premier World Elite Mastercard Credit Card, and Cash Rewards Mastercard Credit Card Student Account.

Many of these cards charge $0 in annual fees, and cards like the World Elite Card, Premier World Mastercard, Advance Mastercard, Platinum Mastercard with Rewards, Cash Rewards Mastercard, and Gold Mastercard will charge you zero foreign transaction fees.

What’s more? Some of the cards offer 0% to low introductory APRs, and the Premier World Mastercard has a rewards program offering 35,000 bonus points (worth $400 in air travel) when you open the card. These perks are just the tip of the iceberg. There is so much to love about these cards and much more to learn by simply reading on.

Credit Card Cons

Of the qualities of HSBC credit cards that people tend to dislike, you can expect a high annual fee of $395 with the Premier World Elite Mastercard. Other disadvantages include the fact that, after the introductory APR period, the interest rates revert to their normal rates, which can be quite high (as high as 25.24% for some cards).

HSBC Credit Card Offers

All of HSBC’s credit card products have beneficial introductory offers that make holding these cards all the more worthwhile. These offers are perfect for novice credit card owners and veterans who are first-time HSBC customers. For the Gold Mastercard Credit Card, the bank offers an introductory annual percentage rate (APR) of 0% on purchases and balance transfers made. However, only those made within the first 18 months of the card activation qualify. The same introductory rate is offered for the Cash Rewards Mastercard Credit Card (first 12 months), Platinum Mastercard with Rewards Credit Card (first 12 months), and the Advance Mastercard Credit Card (first 12 months).

Rewards cards offer various types of incentives. These cards include the Cash Rewards Mastercard Credit Card, Platinum Mastercard with Rewards Credit Card, Premier World Mastercard Credit Card, Premier World Elite Mastercard Credit Card, and Cash Rewards Mastercard Credit Card Student Account. From bonus and introductory points to special cashback offers, you can certainly make the most out of these incentives. After the introductory period, these offers will no longer be valid, and the standard variable APR will apply.

HSBC Credit Card & Balance Transfer

Cardholders enjoy efficient and hassle-free debt consolidation through balance transfers. You can transfer existing debt with higher interest to your HSBC credit card. This allows you to lower down the cost of repayments, repay the debt faster, organize your debts and make paying them more efficient.

For cards with 0% introductory APR for balance transfers, the transaction must be posted within 60 days from the account opening. However, keep in mind that transferring balances from one HSBC account to another is not allowed.

HSBC Credit Card Eligibility

For prospective clients in the United States, there are a few eligibility requirements you must fulfill. Usually, qualified individuals are those ages 18 years old and above who are a permanent resident of the country. The bank will also look into your financial, employment, and credit statuses to determine whether you are eligible for their credit card offers.

With these requirements, you need to make sure that you have pertinent documents on-hand. These documents may include recent bank statements and payslips, contact information, your credit card report, and proofs of identity and residence.

HSBC Credit Card Application

If you are new to HSBC, you can start your application by heading to the HSBC website. Choose the credit card for you, and simply fill out the online application form.

You will need to enter your full legal name, date of birth, social security number, and contact information.

HSBC Credit Card Activation

When you get your application approved, you will receive your credit card soon. Once you receive your card, you can activate it by simply going to the HSBC Credit Card Activation page. On this page, you will have to enter your 16-digit HSBC Credit Card number, the last 4 digits of your Social Security Number, the card CVV, and its expiration date.

For those without a Social Security Number, the bank instructs clients to contact the bank by calling the number on the back of the card.

HSBC Credit Card Limit

Keep in mind that the bank will evaluate your financial, employment, and credit statuses to determine your creditworthiness. Your credit limit will likely be based on your creditworthiness and other similar factors. Because of this, you have a greater chance of getting a higher credit limit if you are deemed very creditworthy by the bank.

HSBC Credit Card APR, Interest Rates & Fees

  • Variable APR: 17.24% to 21.24% (Advance Mastercard Credit Card, Premier World Mastercard Credit Card, and Premier World Elite Mastercard Credit Card); 13.24% to 21.24% (Gold Mastercard Credit Card); 15.24%, 19.24%, or 25.24% (Cash Rewards Mastercard Credit Card, Platinum Mastercard with Rewards Credit Card, and Cash Rewards Mastercard Credit Card Student Account)
  • Foreign Transaction Fees: $0
  • Annual Fee: $0 (except for Premier World Elite Mastercard Credit Card fee of $395)
  • Late Payment Fee: up to $37

HSBC Credit Card App & Online Banking

Customers from the US can monitor their accounts through mobile and online banking. You can simply download the HSBC Mobile Banking App to access your account through your smartphone. This app guarantees security and efficiency through an intuitive interface and Fingerprint ID.

For browser access, you can log on through the HSBC online banking page.

HSBC Premier World Mastercard
Image from HSBC

Already an HSBC Customer?

If you are worried about proper management of your credit card, or you have concerns about fraudulent transactions, below is some additional information on how you can better manage your credit card.

HSBC Address, Contact and Customer Service

You can get in touch with representatives of the bank through mail or phone. For mail, you can write to the HSBC Customer Service Address at HSBC Bank USA, N.A. P.O. Box 2013 Buffalo, NY 14240.

You can also talk to a customer service representative by dialing 800.975.4722 (Personal Banking), 888.662.4722 (HSBC Premier Banking), and 866.584.4722 (HSBC Advance). Tweeting is also an option by tweeting the bank at @HSBC_US on Mondays to Fridays from 6 AM to 10:30 PM and Saturdays to Sundays from 8 AM to 8 PM ET.

HSBC Online Login

In order to access your account via online platforms, just enter your username, date of birth and password. You can also log in using a security code, which will be generated using the HSBC Mobile Banking app by tapping Generate Security Code.

HSBC Credit Card Payment Options

You can make payments online. To make the process easier and more efficient, you can set up automated payments using the app. Keep in mind that the bank applies for your payments on your monthly statement.

There is a minimum interest charge of $1, and for more information regarding the minimum payment amount, refer to the Summary of Terms or talk to a bank representative.

How to Cancel Your HSBC Credit Card

To close your credit card account, you can simply call the number on the back of your card. You can also send your request to the mailing address seen on your billing statement.

Conclusion

HSBC offers a variety of credit cards that can make your life easier. With worthwhile offers, rewards, and attractive rates, these cards should definitely be in your arsenal. So, if you are looking for a reliable and versatile credit card, start browsing through HSBC’s selections and start your application.

Disclaimer:

Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.