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?
Choosing the best credit card from a specific credit card company is quite challenging. Considering HSBC, the three following steps can make your decision process easier.
First of all, you should check your credit score. It will be from "Poor” to “Excellent”, and the higher your credit is, the better HSBC options of credit cards are available to you.
Then, you need to decide on why you want a HSBC credit card and determine the most important features your potential credit card should have. If you search for a credit card to improve your credit score, then look for those with large grace period and no annual fee. If you want to save money on interest, HSBC credit cards with the smallest interest and long intro offer are your option. If you are looking for a credit card that will provide you cashback, pay attention to the rewards program offered by HSBC.
As a third step, compare the HSBC offers you find the best for you, but now looking at all the features. In general, an ideal credit card has the following characteristics: near-zero annual percentage rate (APR), long grace period, no fees, high credit limit, and large 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
HSBC issues a range of credit cards with numerous options, yet it’s important to find the one that designed for you.
