Overview of HSBC Credit Card
The credit cards on offer from HSBC cover a wide range of facilities and privileges that range from the traditional facility of providing credit to special offers and discounts. These cards also offer reward programs and interest free periods meant to make shopping with these cards more enjoyable. They also offer facilities like balance transfer that make it easy for cardholders to deal with outstanding balances on other cards. Due to their association with MasterCard and Visa, these cards also offer special offers and discounts that can be availed in other countries as well. In addition to all this, these cards also offer cash advance facilities that can be availed when there is an urgent need for cash.
Why choose HSBC Bank Credit Cards
While there are a lot of special discounts and features that these credit cards offer, there are also a multitude of other services available with them that make the experience of owning these cards more convenient. These cards come with internet banking that can allow cardholders to manage their cards no matter their geographic location. These cards also offer SMS balance enquiry that makes it easy to know exactly what your situation is. They also offer the auto bill payment facility that can let cardholders set standing instructions for bill payments. Another thing that adds to the convenience factor is the phone banking option that almost eliminates the need to visit your bank branches.
Features and Benefits of HSBC Credit Cards
- Some of the cards on offer are compliant with the shariah rules of Islamic banking.
- They offer balance transfer facilities to cardholders.
- Using them is quite safe as the bank puts in a lot of effort to ensure that transactions are kept secure.
- They also offer interest free periods for bill payments.
- These cards also come with Takaful protection to protect against theft, loss or fraudulent use of the cards.
- Some cards also offer flight and accident cover of up to RM 1.5 million.
- These cards can also be used to apply for a cash advance of a minimum of RM 5,000 at an interest rate of 6.88% per annum.
HSBC Credit Cards Eligibility
To be eligible to apply for these cards, applicant will have to fulfil the following basic criteria
- Primary card applicants need to be at least 21 years old.
- Supplementary card applicants need to be at least 18 years old.
- The annual income of the applicant must be of a certain level decided by the bank.
HSBC Credit Card Payment Procedure:
Payment of HSBC kad Kredit bills are easy and convenient through a multitude of channels. Apart from making cash deposits at HSBC branches cardholders can pay their credit card bills through online banking. Many a times, cardholders realise their bill payments are due only when the due date is fast approaching. HSBC now offers an auto bill payment facility that allows cardholders to breathe easy and avoid the long queues whilst making bill payments.
This service is made available to all HSBC cardholders except for those cardholders who have a corporate or a company HSBC kad kredit. The cardholder is required to fill the application form of the auto bill payment service found on the HSBC website or at HSBC branch locations. Once the application has been approved, it would take up to 60 working days to generate the first auto bill.
It is important to note that while the auto bill payment feature has been enabled, it is mandatory for the cardholder to have a valid card and an account that is not delinquent as the bills are charged directly to the account.
HSBC Credit Card Documentation:
Applicants are required to submit a certain set of documents depending on the bracket they fall under. If the applicant is a salaried employee then the applicant needs to submit
- a photocopy of both sides of their MyKad, if there is a discrepancy in the residential address on the MyKad and the current residence then the applicant needs to provide a copy of their utility bill
- Latest salary slip and a confirmation letter by the employer if the applicant has been employed for less than 3 months at current source of employment
- They also need to submit the last 3 months of salary slips and the latest BE form with tax payment receipts.
If the applicant is self-employed then the documents required at the time of application
- Photocopy of both sides of their MyKad
- A copy of a utility bill in case current residence s different from residence mentioned on MyKad, a copy of the business registration form which is been established for at least 2 years
- Past 6 months account statements and the latest BE form with tax payment receipts.
In case of foreigners or expatriates, they need to earn a minimum of RM 10,000 and should be employed at a company that is accepted by HSBC and should provide a copy of their passport, work permit, latest salary slip and a letter of confirmation from the employer.
For any supplementary cards to be availed, the primary cardholder must also provide a photocopy of the MyKad of the supplementary cardholder
HSBC Credit Card Application Procedure:
If applicants satisfy the eligibility criteria for age and income requirements, they can download the application forms available on the website, fill and submit the application forms along with the necessary documents online or they can also acquire the forms, fill and submit them with the supporting documents at their nearest HSBC branch.
HSBC credit card cash advance & interest on cash advance
These credit cards do offer cash advance facilities for which the interest rate charged is 18% per annum. The fee for these transactions is 5.3% of the amount withdrawn or a minimum of RM 15.90.
HSBC credit card balance transfer facility
These cards allow cardholders to transfer the balance from other cards onto these cards at an annual interest rate of 18% per annum.
|Read More on HSBC Balance Transfer|
Interest free period
With most of these credit cards, cardholders can enjoy an interest free period of 20 days.
HSBC Credit Card Rewards
Rewards are designed to instill a sense of joy and uplift our mood, and earning rewards each time you use your credit card is the icing on the cake. HSBC offers reward points every time you use their credit card, making it a win-win situation for users, ensuring they can make purchases with the thought that each swipe makes their life better.
|Read More: HSBC Credit Card Rewards|
HSBC Cash Instalment Plan
There will be a time that you will be short of finances due to various reasons. You can opt for Cash Instalment Plan during those times. This simply means that you do not have to go through a lengthy process of taking a personal loan to avail the finances.
You can avail a minimum cash advance of RM5,000 and above using your HSBC Credit Card. There is no advance fee charged and you also get reward points.
|Read More: HSBC Cash Instalment Plan|
HSBC SecurePay for Cards
HSBC Amanah Malaysia Berhad has introduced SecurePay One Time Password which is an online authentication to all the HSBC Bank credit cardholders. This added service enhances security when you are using your credit card to make online purchases at the participating 3D secure merchant’s website.
|Read More HSBC SecurePay for Cards|
HSBC Auto-bill Payment
Ever wondered how easy life would be, if you did not have to make online bill payments every months for anything and instead it was automated to be paid through your account every month. Well, at least HSBC auto-bill payment allows you to do such a thing, with some of your important bills. While you have to only a little careful about maintaining a balance in your account, for the bill payments every month, everything else is taken care of.
|Read More HSBC Auto-bill Payment|
Frequently Asked Questions – HSBC Credit Cards
Q. What is the interest rate charged on these cards?
A. The interest rates charged on these cards can range from 15% to 18% per annum.
Q. What is the minimum amount that I can pay?
A. The minimum amount that needs to be paid towards the card will be the highest of 5% of the outstanding balance and RM 50.
Q. I lost my card. Can I get a replacement? What will it cost me?
A. The fee charged for replacing lost cards is RM 50 per card.
Q. what is the Home & Away Programme offered by these cards?
A. This is a globally recognised program that allows cardholders to have access to local special offers when they travel abroad.
Click here for all HSBC Credit Card Promotions
Other Products offered by HSBC:
Apart from offering Credit Card, HSBC offers other products and services which include:
- HSBC Personal Loan
- HSBC Home Loan
- HSBC Fixed Deposit
- Amanah Personal Financing-i
- Time Deposit
- Foreign Currency Account
- HSBC TravelSafe
- HSBC’s UniversalLegacy
- HSBC’s UniversalTreasure
- HSBC’s HealthPlus
- Takaful Retirement Plan
- Cash vs Cards Payments Malaysia
- How to Find the Perfect Credit Card in Malaysia
- How to Improve your Credit Rating in Malaysia
- How to Increase Credit Limit in Your Credit Card
- How to Pick an Emergency Credit Card
- Student Credit Cards in Malaysia
- Supplementary Credit Cards in Malaysia
- When to Use Credit over Cash
- Shed the Excess Interest Rates
- Protecting One’s Credit Card While Travelling
- Defaulting Your Credit Card Bills in Malaysia?
- Top 5 Reasons Why Owning a Credit Card is Good for You
- How to improve your chances of having a credit card approved
- Credit Card fraud: Are you aware of it?
- Understand Credit Card interest free period
- Reward Credit cards Malaysia
- Best Cash Back Credit Cards in Malaysia
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- How to Maximise Your Credit Card Benefits
- Popular Credit Card Fees and Charges in Malaysia
- How to Apply for Credit Cards in Malaysia for Foreigners
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- Best Petrol Credit Cards In Malaysia
- Credit Cards for Employees in Malaysia
- Common Mistakes to Avoid While Applying for a Credit Card
News About HSBC Credit Card
HSBC to build its headquarter office in the Tun Razak Exchange
Under its commitment to developing Asia as a financial hub, HSBC is investing RM1.06 billion so that they can build their headquarter office in the Tun Razak Exchange. The CEO of HSBC Malaysia, Mukhtar Hussain, said that they are excited to be a part of this iconic development. He also said that the location of TRX is crucial in enhancing the Malaysia’s status as international financial and business center. Many multinational companies will be attracted to this area and HSBC’s decision to choose TRX is a milestone for HSBC. The CEO believes that the collaboration will help in successfully developing Malaysia’s financial center.
27th June 2017
Global Trade Finance Investment Network expands
HSBC Group which has built a multi-hub capability that enable investors to participate in the global financing. HSBC Bank Malaysia Bhd announced the expansion at the Swift International Banking Operation Seminar in Geneva, Switzerland. The customers can benefit from originating and distributing trade receivable in Asia, America and EMEA. Non-bank investors get access to new asset class where they get a better risk-adjusted returns than they would with other securities. Customers can take on larger deals and work with one bank to cover their trade finance needs.
13th October 2016
HSBC Malaysia’s commercial banking to Lead By Andrew Hill
HSBC Malaysia has a new veteran banker, Andrew Sill appointed as the new head of the commercial banking in the country. HSBC is based out of Kuala Lumpur, will now be holding responsibility for the commercial banking in Malaysia along with global trade along with receivables finance. He also will be leading other sectors including global liquidity as well as cash management businesses. He was appointed the head of commercial banking in Malaysia for HSBC on June 13 of this year.
Earlier the position was held by Mahbub Ur Rahman who made a move to Bangladesh as the CEO as well as country head of CMB. Sill was earlier in Royal Bank of Scotland in Malaysia as the CEO. Sill is also currently the running chairman of the British Malaysian Chamber of Commerce.
14th July 2016
HSBC Offers New Fund That Captures Equity Opportunities
HSBC Bank (M) Bhd (HSBC) has announced the offering of a new fund, called the Advantage Global Equity Volatility Focused Fund through AmInvest, intending to capture equity opportunities amidst a required global recovery.
This fund is managed by HSBC Global Asset Management and is a wholesale fund fitting into the HSBC Global Investment Funds-Global Equity Volatility Focused Fund.
According to a statement by HSBC, the claim is that the fund permits investors who wish to reap equity investing benefits, but are sceptical about market uncertainty might now consider investing strategies that are aimed at the reduction of volatility in a portfolio, at the same time capturing global market opportunities.
It is also said to provide long-term total return through an investment portfolio comprising of equities aiming for lower volatility with the help of portfolio construction intending in helping investors enjoy the benefits of equity investing,without high risk than the broader market.
Angus Parker, HSBC Global Asset Management Head of Developed Equities, added, "Equities play an important role in a balanced portfolio. For investors interested in gaining exposure to equities, but concerned about the impact of fluctuations, they may consider a global equity fund that focuses on minimising volatility. This allows them to participate in the expected upside for equity markets over the long term, but with lower volatility.
30th November 2015