The Hongkong and Shanghai Banking Corporation or HSBC is one of the most popular and oldest banking institutions in the world. With global presence that is widely spoken about, this U.K based bank has an impeccable banking legacy in Philippines. In its credit cards portfolio, the bank offers a wide range of options to suit the growing needs of the new age customer in this hyperconnected world. Based on both Visa and MasterCard platforms, HSBC cards come with friendly features and attractive rewards along with affordable rates and charges.
Some of the features of the HSBC Credit Cards are:
- Pleasing Rewards - HSBC is known to shower reward points based on different purchase categories. For every peso spent, you can earn reward points and even up to 4x points for spends in specific categories. Cards from HSBC assure rewards every time you use it for a transaction.
- EMI Facilities - EMI options are available across segments such as Shopping, Travel & Wellness and much more. Purchase your favorite products at participating merchants and payback in up to 36 installments on eligible cards.
- Balance Transfer Facility - The Balance Transfer option lets you transfer balance from non - HSBC credit cards at nominal rates and charges.
- Cash Withdrawal - Use your HSBC card to withdraw cash from ATMs in the country. Cards come with dual benefit of making a purchase as well as for cash advances up to the assigned limit. This feature is particularly helpful when you’re in an emergency situation and need cash.
- Redemption of Rewards - An exclusive rewards redemption program that lets you exchange reward points for vouchers, discounts and goodies from the rewards catalogue.
- Auto Charge Facility - The Auto Charge facility from the bank helps you to consolidate all your utility bill payments. Set up auto charge facility and relax. The bills are auto debited from your credit card as per the due/assigned date.
HSBC Platinum Visa Credit Card
With the HSBC Platinum Visa Credit Card, you can now get 4x rewards every time you shop online. You earn an air mile on purchases as low as Php 25 on your spends abroad or shop online. Not only this, you also receive an impeccable global purchasing power and can choose from numerous attractive deals which are exclusive to HSBC Platinum Visa Credit Cardholders. This card is the ultimate travel card and will be your best friend when the travel bug bites you.
- The annual membership fee is waived of for the first year.
- Receive 1 air mile for every spend of Php 25 on this credit card.
- The customer receives 4 bonus points for every spend of Php 20 on overseas purchases and shopping online.
- Receive free travel and accident insurance of up to Php 20 million.
- By spending of Php 10,000, the customer receives a welcome gift of a free flight to Hong Kong via Cathay Pacific or Dragonair.
Features & Benefits of HSBC Platinum Visa Credit Card
Some of the numerous benefits that you receive with this card are:
- 4x Rewards on overseas spends - Get rewarded a lot more when you shop online. With this card you can earn 4 points for every Php 20 that you spend on your purchases online. You also receive 1 air mile for a spend of Php 25 on everything else.
- No Annual Membership Fee - When you apply for an HSBC Platinum Visa Credit Card, you can enjoy free annual membership for life.
- Rebates at Caltex - When you purchase fuel for the first time using this credit card at a Caltex station, you receive an attractive rebate of 10%. If you use your Platinum Visa credit card every time after that, you are assured a rebate of 3% on each bill. Simultaneously, each of your bills accumulate reward points that you can redeem at a later date or use them for miles.
- Zero Percent Installment Plan - You can now pay in easy and flexible installments at 0% interest for purchases made at partner establishments.
Eligibility - HSBC Platinum Visa Credit Card
- You are eligible to apply for this card if your annual income in Php 500,000.
- The applicant must have another credit card which is locally issued and in good standing for at least a year.
Fees and Charges - HSBC Platinum Visa Credit Card
|Annual Fee - Primary Card||Php 5000|
|Annual Fee - Supplementary Card||Php 2500|
|Retail Monthly Effective Interest Rate||2.75 percent per month|
|Cash Advance Monthly Effective Interest Rate||3.02 percent per month|
|Cash advance fees||Php 500 or 3% of the amount withdrawn, whichever one is higher|
|Late payment fees||Php 600 or 7.5% of the outstanding amount due, whichever one is higher.|
|Returned check fees||Php 1000|
|Card Replacement fees||Php 400 for every stolen, lost or damaged card.|
|HSBC Installment Plan Pre-termination processing fees||Php 500|
|Overlimit fees||Php 500|
|Sales slip retrieval fees||Php 275|
|Service Fee for Foreign Currency Transactions||2.5 percent of the converted sum|