Classic Credit Card

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Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
3
Number free supplementary
Number free supplementary
5
Annual Fee
Annual Fee
$79
Late Payment Fee
Late Payment Fee
$30
Over limit fee
Over limit fee
$30
Duplicate statement fee
Duplicate statement fee
$8
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
3
Number free supplementary
Number free supplementary
5
Annual Fee
Annual Fee
$79
Late Payment Fee
Late Payment Fee
$30
Over limit fee
Over limit fee
$30
Duplicate statement fee
Duplicate statement fee
$8
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
23.99%
Cash advance rate
Cash advance rate
25.99%
Purchase Rate
Purchase Rate
23.99%
Cash advance rate
Cash advance rate
25.99%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
4.99%
for 15 months then 25.99%
Transfer Limit
Transfer Limit
95%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100
Balance Transfer Rate
Balance Transfer Rate
4.99%
for 15 months then 25.99%
Transfer Limit
Transfer Limit
95%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$100

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$4
Estimated ATM Cost
Estimated ATM Cost
$13
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
3% on Visa
Overseas charges
Overseas charges
$4
Estimated ATM Cost
Estimated ATM Cost
$13
for AU $300 withdrawal

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
$20,000
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
$20,000
Eligibility conditions
Eligibility conditions

Perks

  • Extended WarrantyWarranty is extended for the same duration as the original warranty up to 1 year.
  • Partner Discounts
  • Price GuaranteeIf you purchase personal goods in Australia and then find the same product advertised later at a cheaper price, you can claim back the difference if it is more than $75.
  • Purchase ProtectionCovers with a $100 excess
  • Free Supplementary Cards
Other Benefits
0% p.a. interest free at participating retailers

Features

The HSBC Classic credit card has a moderate annual fee, high interest rates and a moderate interest-free period. While the card charges high interest rates, the HSBC credit card charges 0 per cent interest when you spend over a certain amount at over 1,000 participating retailers. This card does not charge a fee for additional card holders (age 16 or older). The card does not have an associated rewards scheme.

While the HSBC Classic credit card does not offer a rewards program, it does come with complimentary purchase insurance including guaranteed pricing insurance, 90-day purchase protection insurance and up to 12 months of extended warranty insurance.

Card holders are also offered full control with My Card Controls. My Card Controls allows customers to customise restrictions on their card, such as restricting transactions based on the amount, type or country.

Pros
  • No fee for additional cardholders
  • Complimentary purchase insurances
  • Eligible for Apple Pay
Cons
  • Charges an annual fee
  • High interest rates
  • No rewards scheme

 

 

Who is it good for?

The HSBC Classic credit card might be a sensible choice for customers who could benefit from 0 per cent interest on large purchases at participating retailers. However, this card is not well suited to rewards-seeking card users or those who want to minimise associated fees.

The HSBC Classic credit card does not offer an associated rewards scheme, which may discourage those who want to earn points for their purchases. Potential card holders who want to earn vouchers, gift cards or merchandise should consider a credit card with a general rewards points program, while those in search of frequent flyer benefits should look for a card that earns frequent flyer points on eligible purchases.

This card is also not a good fit for those who want to reduce the fees associated with their card. The card charges a moderate annual fee, which is not waived in the first year.

What RateCity says

The HSBC Classic credit card offers little advantage to customers who are not looking for interest-free purchases. While this credit card offers 0 per cent interest at participating retailers, the interest rates outside of these retailers are high. With only a moderate number of interest-free days, this may not be the best choice for budget card holders.

The card also charges an annual fee but does not offer points or frequent flyer miles for eligible purchases. There are cards that charge no annual fee and offer no rewards, which may be a better fit for those who want to minimise their costs.

There are also credit cards with an annual fee that are comparable with that of the HSBC Classic credit card, but that also offer a rewards scheme for eligible transactions.

Applying/eligibility

New and existing HSBC customers can apply at a participating retailer or in an HSBC branch. To be eligible, you need to be at least 18 years old and be an Australian citizen or permanent resident. Applicants must have a good credit rating and earn more than $20,000 annually before tax. When you apply, you’ll need to supply proof of income, details of your current financial commitments, a photo ID and your employer’s contact information.

About HSBC

HSBC is a multinational banking and financial services organisation. With a network of over 60 countries, HSBC offers personal banking, business banking and corporate banking solutions to over 38 million customers across Australia and the world. Their offering includes bank accounts, credit cards, home loans, insurance, investments and personal loans. Existing customers can contact HSBC by phone 24 hours a day, and all customers can contact HSBC by email. HSBC is headquartered in London.

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