HSBC Philippines is well known for its wide variety of credit cards. The bank offers credit cards with specific offers in the shopping, dining, entertainment, and travel categories. HSBC Platinum Visa credit card is one of the travel credit cards offered by the bank that offers 4X reward points. Read on to know more about the card.
Features and Benefits
Listed below are the features and benefits of the card:
- It is a travel credit card.
- The card offers 1 airline mile point for every PHP25 spent on the card.
- Earn 4 bonus points for every PHP20 you spend on overseas purchases when you travel abroad or shop online.
- The credit card comes with a very high credit limit.
- The rewards points can be redeemed for air miles, hotel loyalty points or premium rewards items.
- The card offers additional benefits in the form of discounts and special travel privileges.
- The card offers special installment payment plans.
- Global Travel assistance is available round the clock.
- The card offers amazing joining benefits.
- The annual fee is waived off for the first year for the primary and supplementary card.
- The card is available to both nationals and foreigners.
- Low rate of interest.
- Supplementary cards available.
- Hassle free application process.
- Easy and minimal documentation.
- Can be applied for online and offline.
Given below is the detailed explanation of the rewards scheme on the card:
- Every PHP25 you charge on your card earns you 1 airline mile. The airline miles redeemed for various benefits at over 800 airlines and hotels.
- The card offers 4X reward points on overseas spends and overseas online spends.
- The card offers 3X rewards on dining and shopping spends.
Insurance Offered by HSBC Platinum Visa Credit Card
Enjoy an exclusive travel accident Insurance coverage of up to PHP20 million when you pay for your travel fares using your HSBC Platinum Visa credit card.
- Get a free American Tourister Spinner luggage when you apply for a new HSBC Platinum Visa credit card and reach a spend of PHP5,000. The offer is valid till May 26, 2017.
One can avail up to five supplementary cards with the HSBC Platinum Visa credit card. The supplementary fee is waived off for the first year.
The bank has ensured that your transactions stay protected with the card:
- SMS Alerts- Every time you make a transaction on your credit card, you will receive a message on your registered mobile number with details of the transactions.
- Email Alerts- Every time you make a transaction on your credit card, you will receive a message on your registered email ID with details of the transaction.
Given below is the eligibility criteria for the card:
- The applicant should be in the age range of 21 to 70 years old.
- The applicant should be earning a minimum income of P 180,000 per annum.
- The applicant must be a Philippine resident or a Filipino citizen.
Given below is a list of documents required in order to apply for the card for Filipino citizens:
For Filipino citizens
- Proof of Income-
- For Employed (Required): Photocopy of latest BIR Form 2316 signed by employer's authorized representative AND one of the following:
- Original copy of Certificate of Employment and Income (COEI) indicating status, length of service, and compensation breakdown
- Photocopy of latest full month payslip
- For Self-Employed (Required):
- Photocopy of Registration of Business Name
- For Single Proprietorship issued by DTI
- For Partnership/Corporation issued by SEC
- Photocopy of latest ITR and W4 with BIT/Bank Stamp Audited Financial Statements for the last 2 years; OR
- Bank Statements for the last 3 months
- Proof of identity- Any government issued ID
- Copy of Employment Contract or Certificate of Employment
- Letter from Embassy (if Embassy Official)
- Submit photocopy of ANY ONE of the following:
- Valid Passport with Resident Visa
- Work Permit and Valid Visa
- Special Investor's Resident Visa and Visa's Philippine Economic Zone Authority or Visa with EO22
- ACR or ICR or ACR-1
Fees and Charges
Given below is a list of fees and charges charged on the credit card:
|Primary card annual fee||PHP5,000 per annum (Annual fee waived for the first year)|
|Supplementary card annual fee||PHP2,500 per annum (Annual fee waived for the first year)|
|Cash advance||30% limit|
|Cash Advance Monthly Effective Interest Rate||3.75%|
|Cash Advance fee||3% of the amount withdrawn or P500, whichever is higher.|
|Finance Charge||3.50% per annum|
How to Apply for HSBC Platinum Visa credit card?
Applying for card HSBC Platinum Visa credit card is very easy. The applicant can either apply for the credit card online or do it offline at one of the bank’s branches in Philippines.
- Online- The applicant can visit the official website of the bank if they wish to apply for the card online. At the official website, the applicant can choose the card of their choice and apply for it by downloading the form and submitting it with relevant documents. The applicant can also apply for the card on third party financial websites.
- Offline- If the cardholder wishes to apply for the card offline, they can do so by visiting one of the bank’s branches in Philippines.
How to Report a Stolen Card?
In case you lose your HSBC Platinum Visa credit card, you should inform the bank immediately. If you have lost or misplaced your credit card, contact the bank immediately so that the bank can take immediate action. The cardholder is liable for any charges made on the card if they fail to inform the bank in case of a lost or misplaced card.