For HSBC current account customers only
0% on balance transfers for 23 months (3.3% fee)
0% on purchases for 3 months
Up to 8% discount on Thomas Cook booked through HSBC Travel Club
HSBC (Existing Customers Only) credit card
Everything you need to know about this credit card, including how to apply, our review and the small print.
Available to those who are:
- HSBC current account customer and pay in more than £500 a month
- Aged 18 or over
- UK resident
- Earn at least £8,500 per annum
Please ensure you meet the above criteria before applying, or it could adversely affect your credit rating.
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| Representative Example: 17.9% p.a. variable on purchases. This is equivalent to 17.9% APR representative variable based on a credit limit of £1,200. HSBC Bank plc, 8 Canada Square, London, E14 5HQ |
What's on offer?
Main summary of this credit card's rates, rewards and services.
 Purchases: |
 Balance transfers: |
 Rewards: |
 Cardholder services: |
|---|---|---|---|
| 0% for 3 months 17.9% p.a. variable thereafter |
0% for 23 months 17.9% p.a. variable thereafter 3.3% transfer fee (£5 min) Must be transferred within 30 days |
Up to 8% off Thomas Cook Holidays | Online Account Management Internet Fraud Guarantee Active Fraud Monitoring MasterCard SecureCode |
Further details and the small print
A closer look at the rates, rewards, services and our review of this credit card.
What we think
Our review and how this deal compares
Please read this first:
This review is based on general information about how the product compares in the market, it shouldn't be taken as a recommendation or advice.
Please see below for more important information relating to the content of this page.
HSBC's credit card offers a mid-market 0% balance transfer deal and access to the HSBC Travel Club: up to 8% off Thomas Cook holidays.
For such a large bank, it's somewhat surprising how refrained they are in the UK credit card market.
HSBC credit cards are only available to their current account customers, and even this standard card requires customers to be paying in at least £500 a month.
It offers a decent balance transfer period but, beyond that, the HSBC credit card is pretty straightforward.
0% balance transfer
This HSBC credit card offers 0% on balance transfers for 23 months.
There is a transfer fee of 3.3%, which is about average at the moment, and, to take advantage of the offer, balances must be moved within 30 days of opening the account.
As you'd expect transfers aren't permitted from HSBC group cards, including HFC Bank and first direct.
0% purchases
The HSBC credit card also offers 0% on purchases for 3 months.
This is a particularly short offer though and anyone looking for a 0% purchases deal specifically could find much longer periods than this.
HSBC Travel Club
A more appealing benefit of the HSBC credit card however is access provided to the HSBC Travel Club.
Very similarly to Barclaycard, it runs in partnership with Thomas Cook, and cardholders will be able to get a discount of up to 8% on holidays and travel.
Customer service & security
HSBC often rank highly in customer satisfaction surveys for their current accounts, and perhaps that is likely to be this credit card's main selling point for existing customers.
As you'd expect from such a large banking group, HSBC offer additional protection services against fraud.
There is an Internet fraud guarantee, active fraud monitoring, access to MasterCard SecureCode (3D Secure) and HSBC subscribes to the Lending Code as well, which sets out certain rights for cardholders such as maximum liabilities against fraud.
Additionally HSBC offers an emergency card replacement service if a cardholder ever loses their card whilst abroad.
Final word
HSBC's credit card is clearly aimed at existing customers, and while it doesn't offer any market leading deals or incentives, it's a simple choice for good customer service within an existing bank account.
Application criteria
| Detail | |
|---|---|
| Only apply if you are: | - HSBC current account customer and pay in more than £500 a month - Aged 18 or over - UK resident - Earn at least £8,500 per annum |
Interest rates
| Detail | Additional | |
|---|---|---|
| Representative APR (variable) | 17.9% APR | Rates from 17.9% APR variable to 19.9% APR variable depending upon individual circumstances. Based on a £1,200 credit limit. |
| Introductory Purchases | 0% for 3 months | - |
| Introductory Balance Transfers | 0% for 23 months | Must be transferred within 30 days of account opening to qualify. You cannot transfer a balance from another HSBC Group card; including HSBC, HFC Bank and first direct. |
| Standard Purchases | 17.9% p.a. variable | Rates 17.9% to 19.9% p.a. variable. |
| Standard Balance Transfers | 17.9% p.a. variable | - |
| Standard Cash Advances | 23.9% p.a. variable | Rates from 23.9% to 24.7% p.a. variable. |
Fees and charges
| Detail | Additional | |
|---|---|---|
| Balance Transfer fee | 3.3% (£5 min) | - |
| Cash Advance fee | 2.99% (£3 min) | - |
| Foreign fee | 2.99% | This fee is charged for transactions made in non-sterling currency. |
| Annual fee | None | - |
| Default charges | £12 | Returned payments are charged £5. This charge is made for late payments, returned payments and exceeding the credit limit. |
Repayment details
| Detail | Additional | |
|---|---|---|
| Credit limit | £500 min | Maximum credit limit is subject to status. |
| Interest free period | Up to 56 days | For purchases if you pay your whole balance in full and on time. There is no interest free period on cash advances or balance transfers. |
| Minimum monthly payment | 2.5% (£5 min) | The greater of interest, default charges and any payment protection insurance premium plus 1% of the principal, or 2.5% of the balance or £5 whichever is higher, or if less than £5, your statement balance. |
| Allocation of payments | Cash, purchases, standard rate balance transfers, then promotional purchases and balance transfers. | Payments will be applied in the following order: cash advances, then purchases and standard rate balance transfers, and lastly to promotional rate purchases and balance transfers. |
Rewards and discounts
| Detail | |
|---|---|
| Up to 8% off Thomas Cook Holidays | Holidays must be booked through the HSBC Travel Club. |
Cardholder services
| Offered | Additional | |
|---|---|---|
| Online account management |  |
You can manage the account online. |
| Internet Fraud Guarantee | |
There is no liability for unauthorised online transactions made with the HSBC credit card without your knowledge or consent. |
| Fraud Monitoring | |
Fraud detection system. |
| Identity Protection |  |
- |
| Credit Report Access | |
- |
| 3D Secure | |
MasterCard SecureCode An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers. |
| OneTouch Payments | |
- |
| Purchase Protection Insurance | |
- |
| Purchase Delivery Insurance | |
- |
| Comprehensive Travel Insurance | |
- |
| Travel Accident Insurance | |
- |
| Travel Inconvenience Insurance | |
- |
| Assistance Abroad | |
- |
| Emergency Card Replacement | |
Global Assistance: card replacement if lost abroad. |
Please read the following notice:
The review on this page is intended to provide general information only and does not attempt to give advice that relates to your specific circumstances. If you are unsure as to the suitability of any financial product, you should discuss this with an independent financial advisor.
While we make every effort to ensure and maintain current and accurate information on this site and the review on this page will be periodically updated inline with product changes, it could contain rates, deals or facts which have now changed and therefore should not be solely relied upon.
You should check the full details of any product with the relevant provider before applying, and you are advised to conduct your own research as well.
We aim to provide free reviews and comparisons of consumer products. To keep the site free, we are paid by some providers when new customers take products after they've clicked on our links. We don't allow our editorial content to be affected by those links, however we may not include all of the products available in the market.
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