People looking for a card to build or boost their credit score can consider the HSBC Classic credit card. As HSBC’s only “credit builder” card, this one will likely have the least strict requirements for who can get it.
HSBC Classic credit card gives its cardholders access to several special deals and rewards to give you the most for your money. In the article below, learn more about this credit card’s perks, features, and benefits.
- HSBC Classic Credit Card
- Pros of the HSBC Classic Credit Card
- What Are the Benefits of the Card?
- Fees and Charges of the HSBC Classic Credit Card
- What Are the Eligibility Criteria?
- HSBC Mobile Banking App
HSBC Classic Credit Card
HSBC has a variety of credit cards that are made for different needs and ways of life. The HSBC Classic Credit Card is one of the most popular things they offer.
This card makes it easy to pay with plastic money and is accepted worldwide. It has many features and benefits that will make carrying cash a thing of the past.
With better safety features, the ability to get cash advances at more than a million ATMs, cashless payment options, and a customer service team that works around the clock, this card and its services are a must-have for any modern Indian citizen.
This credit card is also one of the few that has both elite-level features, like being accepted anywhere in the world, and basic features like not charging extra for gas.
What Are the Basic Features of the HSBC Classic Credit Card?
This credit card is meant to help you build and improve your credit score, giving you the chance to do so over time. Your credit score will increase if you pay on time and don’t exceed your credit limit.
Visa powers your card, so you can use it almost anywhere in the world that accepts visas. You can also use your card to make purchases without touching it, and you can add it to Apple Pay, Google Pay, or Samsung Pay if you want to.
By shopping with your favorite brands, you can get a lot of special perks. You can get instant discounts from well-known brands worldwide, and every time you swipe your card at a partner business, you can earn cashback.
Pros of the HSBC Classic Credit Card
The HSBC Classic Credit Card has the most up-to-date safety features and limits your responsibility if the card is lost or stolen. Because HSBC’s customer service team works so hard, it’s easy to report a lost card.
All HSBC customers can get expert customer service thanks to the 24-hour, seven-day-a-week, 365-day-a-year customer service team. The HSBC team works hard to record complaints about lost or stolen cards and take suggestions for improving services.
They set up a direct line of communication between the customer and the bank and make sure that no customer says they are unhappy and unsatisfied with the services offered by the bank.
The card can be used at more than a million ATMs and 18 million stores worldwide without question. The card can help you convert money, travel, plan your finances, and get yourself out of a tight spot.
What Are the Other Pros of the HSBC Classic Credit Card?
However, it also has a relatively low opening credit limit and a high-interest rate.
Most credit cards that help you build credit do not have many perks, but the HSBC card can give you a little cash back through Visa Offers. The Visa Offers program looks at how you use your card and then sends you a personalized list of offers by email every week.
You do not have to do anything to get these perks. They happen automatically when you use your card with the listed brands. With HSBC’s Home&Away rewards program, you can also get some pretty specific discounts from brands all over the world.
What Are the Benefits of the Card?
All HSBC credit cardholders can get cash advances, and the HSBC Classic Credit Card is no different. Cardholders can get cash from more than a million ATMs worldwide, depending on how much cash they need immediately.
The card combines the safety and convenience of cashless payments with the ability to get cash if needed. The card is made so that it can be used to pay for anything, whether in cash or with another card.
If your card is stolen or lost, you can report it quickly and avoid paying for fraudulent transactions by notifying the 24×7 customer service department.
It is important to remember that the sooner you report the loss or theft, the better because you will be held responsible for all transactions that happen before you report your card lost or stolen. This is much easier to do with HSBC.
What Are the Other Benefits of the HSBC Classic Credit Card?
Like any bank, HSBC abides by Section 75, which protects purchases made with a credit card between £100 and £30,000 if the seller breaks a contract or lies about the goods.
It is also possible to save money on shopping, eating, traveling, family outings, etc, when using the HSBC Classic credit card. The bank mentioned that it always changes its offers, so visit its website to stay updated.
One of the main goals of the HSBC Classic credit card is to build or boost your credit score. It can help you build or improve your credit score if you handle it well. However, it can also hurt your credit score if you do not pay on time or stay under your credit limit.
Fees and Charges of the HSBC Classic Credit Card
When you get the HSBC Classic Credit Card, there are no annual fees. But keep in mind that the interest rate on purchases, cash advances, balances, and money transfers is usually 29.9%. Check the other fees, rates, and charges of the HSBC Classic Credit Card below:
- Annual Fee – £0
- Introductory Annual Percentage Rate – 0%
- Regular Annual Percentage Rate – 29.99% variable
- Foreign Transaction Fee – 2.99% charge for non-sterling transactions
- Cash Advance Fee – 2.99% (min. £3)
- Late Payment: £12
HSBC Classic Credit Card is a great option if you want low rates and great rewards. When you need money instantly with an average interest rate, you can get it right away with this HSBC Classic credit card.
Is There a Minimum Repayment Amount for the HSBC Classic Credit Card?
You are required to make a minimum payment of either 2.5% of the total debt at the end of each month or £5.00, whichever of these two amounts is higher.
It is generally not a good idea to make only the statutory minimum payment on your credit card each month because doing so tends to be an extremely expensive method to borrow money and can lead to persistent debt.
What Are the Eligibility Criteria?
Make it a priority to ensure you can fulfill the essential requirements for receiving the credit card. Even though the HSBC bank did not elaborate on the prerequisites, the following should be satisfied:
- Minimum age: 18
- Duly filled out and signed application form
- Salary slips
- Bank and income statement
- Proof of identity
- Proof of address
However, HSBC mentioned that you should make an annual income or pension before tax of £6,800 or more to be eligible to apply for the HSBC Classic credit card. It is also possible to use even if you do not hold an HSBC Basic Bank Account.
How Do You Apply for an HSBC Classic Credit Card?
HSBC recommends interested individuals apply online through its official website. The online application will require you to fill out an eight-step form that asks for your personal and financial details.
You can apply if you are registered with HSBC mobile banking. You will be able to view the application form that has been pre-filled with your information, submit it, and receive an immediate response.
Applying online is typically the most convenient option, but if you come into any of our locations for assistance, the bank will be happy to assist you with the application process. It requests that you bring any mobile device (phone, tablet, etc).
HSBC Mobile Banking App
You can use HSBC UK’s free mobile banking app to handle and manage the Classic credit card. If you bank with HSBC, you can do your banking with its mobile app. You only need your online banking login information to use the app.
If you have not already set up online banking, you can do so in the app by tapping “register for mobile and online banking” from the main menu. Once in your account, you can use the app to do the following.
- Use checks to pay
- You can get your bank statements
- Set up, handle, and cancel standing orders
- You can temporarily block your card if you lose or have it stolen
- Make transfers easy
- Use the Pay by Bank app to pay for things
- Use the secure digital key to keep your account safe
The Financial Services Compensation Scheme (FSCS) is a government-run fund that protects people’s money if a bank can not meet its payment obligations. As with all UK bank accounts, HSBC has full FSCS protection. You can get your money back if you lose up to £85,000.
Address and Contact Information of HSBC
You can ask about the Classic credit card application at the HSBC UK headquarters at 1 Centenary Sq, Birmingham B1 1HQ, United Kingdom, or at any 148 branches or over 20 International Wealth Centers.
If you have questions about your application, call their customer service line at +44 345 740 4404.
Conclusion
To take advantage of competitive interest rates and valuable perks, an application for an HSBC Classic Credit Card is the way to go.
Note: There are risks when applying for and using a credit card. For more information, please see the bank’s Terms and Conditions page for the HSBC Classic credit card.
