HSBC is among the leading banking institutes, not just in the Philippines but across the globe. The bank has a huge delivery channel with over 4,000 offices located across the globe and serves a staggering 137 million customers. HSBC offers specialized products and services in the field of consumer banking, commercial banking, wealth management, and global private banking among other areas of expertise. HSBC can trace its business in the Philippines back to 140 years ago. Since then, HSBC has catered to a wide range of consumers offering products such as loans, deposits, and credit cards. The HSBC Gold MasterCard is a popular choice in its stable and a sought after credit card. The features of this card are as follows.
Features and Benefits
- The card earns reward points on every expense charged to it and earns accelerated reward points on shopping and dining expenses.
- The annual fees of the principal and supplementary card is waived for the first year.
- Cardholders are enrolled into the Home and Away program which entitles them to a host of dining, shopping, and travel privileges valid at over 27,000 outlets in over 160 countries.
- Cardholders can enjoy a 3% cash rebate on fuel expenses charged to the card at Caltex stations.
- The card earns reward points on every expense charged to the card. The card earns reward points at the rate of 1 reward point for every P20 charged to the card on qualifying retail purchases.
- The card earns 3 reward points for every P20 charged to the card at select shopping and dining outlets.
- Cardholders get access to the HSBC RED HOT DEALS program wherein they can enjoy discounts at leading restaurants and cafes such as a free desert on a minimum spend of P3,000 at Chef Jessie Grill and a 10% discount on the food bill at Marco Polo Plaza Cebu - Blu Bar and Grill.
Security Features of the Card
- HSBC Credit cards offer HSBC Secure Pay which is a facility that enhances the protection of the credit card. The Secure Pay feature provides an added layer of security to the card when performing online purchases and transactions. Secure pay consists of a password protection layer as well as personal message notifications.
- The Secure Pay is powered by the Verified by Visa and MasterCard SecureCode.
- The feature is available at no additional cost and cardholders simply have to go through a one-time registration process using online banking to avail the facility. It does not require the cardholder to download any software.
- The cardholder must have attained the minimum age of 21 years.
- The cardholder must not exceed the maximum age of 65 years.
- The applicant can be a Filipino resident employed for at least 2 years or have a business in operation for at least 3 years.
- The applicant must have a landline connection.
- The applicant must earn a minimum annual income of P480,000.
The applicant must submit certain documents at the time of application.
For salaried applicants
- A copy of the latest BIR Form 2316.
- A copy of the latest ITR which should be duly stamped as received by BIR
- A copy of the certificate of employment disclosing number of years of service and breakdown of compensation.
- A copy of the latest payslip dating back at least 3 months.
For self-employed applicants
- A copy of valid ID.
- A copy of the business registration certificate
- A copy of the latest ITR and W4 with the BIR stamp.
- A copy of the latest credit card statement from other banks.
Fees and Charges
|Annual fees||P2,500 for principal credit card and P1,250 for Supplementary card. The annual fee is waived for the first year for both cards.|
|Effective rate of interest (Monthly)||The EIR on a monthly basis for the card is 3.50%.|
|Cash withdrawal fee||P500 or 3% of the amount withdrawn, whichever is higher. An additional fee of P500 is charged if cash withdrawal is made over the counter. The monthly EIR on cash advances is 3.75%.|
|Minimum monthly payment||P500 or 4% of the current outstanding amount, whichever is higher.|
|Overlimit fee||P500 for card accounts exceeding credit limit.|
|Late payment fee||7.5% of the minimum amount due or P600, whichever is higher.|
|Retrieval of charge slip||P275 for every instance of charge slip retrieval.|
|Card replacement fee||P400 for every instance of card replacement.|
How to Apply for HSBC Gold MasterCard
You can apply for a HSBC Gold MasterCard credit card through the following ways:
- Applying online: New or existing HSBC cardholders can get the HSBC Gold MasterCard credit card by submitting the online application forms available on the HSBC website. This paperless process involves the borrower having to fill out the application form and submit it along with the supporting documents required.
- Applying through Phone: Applicants can also request for a call back through the HSBC website and will receive a call from Customer Care where they can complete the application process and have any general queries regarding their application answered.
- Applying through a HSBC branch: Borrowers can also get the credit card by visiting any of the banks’ participating branches and filling out the necessary application forms. The borrower will have to carry with them any supporting documents pertaining to their identity proof or proof of income.
How to Report Stolen Cards
Cardholders must report any loss of card immediately. If the card has been lost or stolen, cardholders are required to report the same by calling the HSBC Customer Care Hotline. Cardholders will be held liable for all purchases made using the card prior to reporting of the loss or theft of the card.