The HSBC Advance Visa Credit Card is one of the top cards in Philippines - the card is popular for its Rewards programme, allowing you to earn rewards on all your purchases. Accelerated reward points can be earned on online shopping and these points can be converted into air miles. The card comes with a host of features that are certain to spice up your daily life and social experiences. From discounts at dining establishments and rebates on fuel purchases, the card has almost everything you need to live life king size!
Let us look at some prominent benefits, the card’s features and fee details to gain a better understanding of what you can expect from the card.
Features and Benefits of the HSBC Advance Visa Credit Card
- Instalment payment options
- Convert your kids’ tuition fees, hospital bills and other purchases into flexible monthly payment stretch over a period of anywhere between 3 months and 36 months.
- Through HSBC’s promotional offer for 2017, you can convert your payments, especially big-ticket payments towards hospital bills and tuition fees into 0% interest instalments.
- Exclusive discounts
- As a HSBC Advance Visa Credit Card customer, you get exclusive promotional discounts at over 27,000 participating establishments across the globe.
- Cash withdrawals using your card
- You can use your HSBC Advance Visa Credit Card to make cash withdrawals at ATMs. Cash advances are subject to interest charges and cash advance fees.
- Balance transfer facility
- HSBC is particularly known for giving its existing and potential customers to transfer their existing credit card debt (from cards of other banks) to their HSBC credit card. HSBC does not charge a processing fee. Also, the bank charges low interest on your transferred debt and credit card usage for the first 12 months or so.
- Easy bill payment options
- HSBC allows for easy bill payment options through online banking (internet banking), mobile banking, through ATMs and over the counter (by visiting your nearest HSBC branch in Philippines).
- Rebates at Caltex
- You can earn rebates of up to 10% at Caltex Service Stations across Philippines.
- The HSBC Advance Visa Credit Card is particularly known for its Reward programmes.
- Customers can earn accelerated Reward Points (up to 4 times the points) when they use their credit card for shopping.
- For every P15 spent using the card on online shopping, 4 bonus Reward Points can be earned.
- Customers can also earn air miles through their HSBC Advance Visa Credit Card. Every P34 spent using the card on online purchases will yield 1 air mile.
- Reward points can be converted into air miles – KrisFlyer air miles and Asia air miles.
Insurance Offered by the Card
Cardholders are covered with insurance for unpaid bills in the event of death or permanent disability. The value of the insurance cover is worth P400,000.
- The applicant has to be minimum of 18 years of age
- The applicant must earn a minimum of P200,000 p.a. in order to be eligible for the HSBC Advance Visa Credit Card.
- All documents required by the bank need to be duly submitted. Discrepancies in information can lead to the rejection of the application.
Customers are required to submit the following documents to the bank to complete their application process:
- Copy of Identity (TIN, Passport or Voter ID)
- Proof of income - latest computerized payslips, bank statement for the last 3 months.
- Visa permit, Passport Copy, Work Permit and employment letter (in case of foreigners).
- Latest copy of duly filed Income Tax Returns.
Fees Details and Charges
|Monthly Interest Rate (Effective Interest Rate)||3.0%|
|Minimum amount due every month||3% of the outstanding balance for the month|
|Late payment charges||7.5% of the outstanding balance, or P600, whichever is higher.|
|Annual card membership fee||P2,500|
|Lost card replacement charges||P400|
|Cash advance fee||5% of withdrawn amount or P300, whichever is greater.|
|Cash advance interest charge||3.27%|
How to apply for the HSBC Advance Visa Credit Card
You can apply for the HSBC Advance Visa Credit Card by visiting the HSBC website and fill out the online credit card application form. You will also have to submit your relevant documents to the bank. A representative from HSBC will contact you for any further details if they may be required and confirm the processing of your application. Once the bank approves your application, you will receive the credit card in a matter of 7-10 working days.
How to Report Lost/Stolen Credit Cards
Customers can report the loss/theft of their credit card by contacting HSBC’s customer service centre and giving details including card related information and information on their recent transaction history. The bank will verify the customer’s identity and claims and subsequently block the credit card.