Bank HSBC credit cards pros and cons
Pros
- Customers can bank internationally. HSBC has physical locations in 64 countries, allowing account holders who are traveling to access various branches across the world. They can also withdraw funds at HSBC-operated ATMs anywhere without being charged a fee.
Cons
- Limited branch and ATM network. HSBC only has 148 branches and 400 ATMs in the US.
- Luck luster mobile banking app. HSBC’s mobile fails to meet the usability and convenience levels set by most competing apps, and it also falls behind in terms of being innovative.
How to Choose the Right HSBC Credit Card?
Sometimes, choosing the best credit card from a specific credit card company is quite difficult. Considering HSBC, there are three steps that can help you.
First of all, you are to figure out your credit score. It can vary from "Poor” to “Excellent”, and the higher your credit score is, the better HSBC options of credit cards are available to you.
Secondly, you have to decide on why you need a HSBC credit card and determine the most important aspects your future credit card should have. If you search for a credit card to improve your credit score, look for the ones with long grace period and no annual fee. If your aim is to save money on interest, HSBC credit cards with the smallest interest and long intro offer are your best choice. In case you need a credit card that will provide you cashback, check the rewards program offered by HSBC.
As a third step, you should compare the HSBC credit cards you find the best for you, but now considering all the aspects. In general, the best credit card fits the following characteristics: near-zero annual percentage rate (APR), long grace period, low fees, extended credit limit, and generous rewards and sign-up bonuses. You can easily compare HSBC credit cards in the table below.
Side-by-Side Comparison of HSBC Credit Cards
| Card Name
| APR
| Annual fee
| Rewards
| Intro offer
|
|---|
| Gold Mastercard®
| 12.99% - 22.99% Variable
| $0
| This card doesn't offer cash back, miles or points. | No current offer. |
| World Elite Mastercard®
| 21.24% - 25.24% Variable
| $395
| 3x Points on new travel purchases – including airline, hotels, and car rentals.2x Points on new dining purchases.1x Points on all other purchases. | 50,000x Bonus Points worth $750 in airfare – when booked online through HSBC Travel from Rewards – after spending $4,000 in the first 3 months of account opening. |
| Premier World Mastercard®
| 21.24% - 25.24% Variable
| $0
| 2x Rewards Points on new travel purchases – including airline, hotels, and car rentals.1x Points per $1 spent on all other purchases. | 35,000x Rewards Bonus Points worth at least $400 in air travel – after spending $3,000 in the first 3 months from Account opening. |
| Cash Rewards Mastercard®
| 20.99% Variable
| $0
| 1.5% Cash Back for every $1 spent on eligible online purchases.1% Cash Back for every $1 spent on eligible gas, grocery and drugstore purchases.0.5% Cash Back for every $1 on all other everyday purchases. | 14% For the first 180 days, earn up to 14% Cash Back on eligible online purchases.13.5% For the first 180 days, earn up to 13.5% Cash Back on eligible gas, grocery and drugstore.13% For the first 180 days, earn up to 13% Cash Back on all other everyday purchases.12.5% Earn an additional 12.5% Cash Back on all purchases for the first 180 days (up to $1,000 in total purchases). |
Conclusion
Today, HSBC has a range of credit cards with numerous features, yet it’s better to find the one that designed for you.
