If you’re looking for a credit card that rewards you for your everyday spending, the HSBC Advance Credit Card might be just the card for you. With up to 3.5% cashback on all purchases, this card is a great choice for high spenders who want to earn rewards on their everyday spending. In this article, we will review the HSBC Advance Credit Card in Singapore, including its benefits, fees and charges, eligibility requirements, and more.
The HSBC Advance Credit Card is a popular cashback credit card that offers a range of benefits for cardholders. From earning cashback on your spending to enjoying exclusive dining and shopping offers, this card is designed to help you get more out of your money. If you’re interested in applying for the HSBC Advance Credit Card, read on to find out more about this card and how it can benefit you.
Key Takeaways
- The HSBC Advance Credit Card offers up to 3.5% cashback on all purchases, making it a great choice for high spenders who want to earn rewards on their everyday spending.
- To be eligible for the HSBC Advance Credit Card, you must have a minimum annual income of S$30,000 and be an HSBC Advance banking customer.
- In addition to cashback rewards, the HSBC Advance Credit Card also offers a range of benefits, including annual fee waivers, exclusive dining and shopping offers, and more.
What Is the HSBC Advance Credit Card?
If you’re looking for a credit card that offers cashback rewards and other benefits, the HSBC Advance Credit Card might be just what you need. This card is designed for HSBC Advance customers who want to maximise their spending power and earn rewards while they shop.
Key Features of HSBC Advance Credit Card
The HSBC Advance Credit Card offers a range of features that make it a great choice for anyone who wants to earn cashback rewards on their spending. Here are some of the key features of this card:
- Cashback rewards: With the HSBC Advance Credit Card, you can earn up to 3.5% cashback on all your spending. The cashback rate depends on how much you spend each month, with higher spenders earning more cashback.
- No minimum spend required: Unlike some other credit cards, the HSBC Advance Credit Card has no minimum spend requirement. This means you can earn cashback on all your spending, no matter how much you spend each month.
- Annual fee waiver: The HSBC Advance Credit Card offers an annual fee waiver, so you don’t have to worry about paying any fees to use this card.
- Online shopping and dining offers: The HSBC Advance Credit Card also offers a range of online shopping and dining offers, so you can save money while you shop and dine.
Understanding the HSBC Everyday+ Rewards Programme
In addition to the cashback rewards offered by the HSBC Advance Credit Card, you can also earn additional rewards through the HSBC Everyday+ Rewards Programme. This programme is available to HSBC Everyday+ customers who hold an HSBC Advance Credit Card.
The HSBC Everyday+ Rewards Programme offers a range of rewards, including:
- Additional cashback: HSBC Everyday+ customers can earn an additional 1% cashback on top of the cashback offered by the HSBC Advance Credit Card.
- Reward points: You can also earn reward points for your spending, which can be redeemed for a range of rewards including shopping vouchers, air miles, and more.
- Birthday treats: As an HSBC Everyday+ customer, you’ll also receive special birthday treats, including discounts and free gifts.
Overall, the HSBC Advance Credit Card is a great choice for anyone who wants to earn cashback rewards on their spending. With no minimum spend requirement and a range of additional benefits, this card is a great way to maximise your spending power and earn rewards while you shop.
Earning Cashback with HSBC Advance
If you are looking for a cashback credit card, the HSBC Advance Credit Card is a great option to consider. With this card, you can earn cashback on your everyday spending, whether it’s dining, shopping, or travelling. Here’s how you can earn cashback with HSBC Advance.
Maximising Cashback Rewards
To maximise your cashback rewards, you can use the HSBC Advance Credit Card for all your spending. You can earn up to 2.5% base cashback on your local and overseas purchases each calendar month. The base cashback rate is 1.5%, but you can earn 2.5% cashback when you spend above SGD 2,000.
If you are an HSBC Everyday+ customer, you can earn an additional 1% cashback on top of the base cashback. This means you can earn up to 3.5% cashback on your spending.
Cashback Tiers and Rates
The HSBC Advance Credit Card has different cashback tiers and rates, depending on your spending. Here’s a breakdown of the cashback tiers and rates:
| Cashback Tiers | Cashback Rates | Cap |
|---|---|---|
| Above SGD 2,000 | 2.5% | SGD 70 per calendar month |
| Below SGD 2,000 | 1.5% | SGD 70 per calendar month |
To take full advantage of the HSBC Advance Credit Card, you will need to have an HSBC Everyday Global account. This account is free and allows you to earn additional cashback on your spending.
Overall, the HSBC Advance Credit Card is a great option if you are looking for a cashback credit card. With its cashback system and rates, you can earn cashback on your everyday spending and maximise your rewards.
Eligibility and Application
If you are interested in applying for the HSBC Advance Credit Card, you should know that there are certain eligibility requirements that you need to meet. In this section, we will discuss the income and credit requirements for the card, as well as the application process.
Income and Credit Requirements
To be eligible for the HSBC Advance Credit Card, you must meet the minimum income requirement of £30,000 per year. Additionally, you must have a good credit score to be approved for the card. If you are unsure about your credit score, you can check it for free on the Credit Karma website.
HSBC Advance Card Application Process
The application process for the HSBC Advance Credit Card is straightforward and can be completed online. Here are the steps you should follow:
- Visit the HSBC website and click on the “Apply Now” button.
- Fill out the application form with your personal and financial details.
- Submit your application and wait for a decision from HSBC.
If your application is approved, you should receive your HSBC Advance Credit Card within 7-10 business days. Once you receive your card, you can activate it online or by calling the number on the back of the card.
In conclusion, the HSBC Advance Credit Card is a great option if you meet the eligibility requirements and are looking for a credit card with a competitive rewards program. If you are interested in applying for the card, make sure to check your credit score and meet the minimum income requirement before submitting your application.
Fees and Charges
If you’re considering getting the HSBC Advance Credit Card, it’s important to know about the fees and charges associated with it. Here’s what you need to know:
Annual Fee and Waivers
The annual fee for the HSBC Advance Credit Card is $192.60, but it’s waived for the first year. To qualify for subsequent annual fee waivers, you’ll need to charge a minimum of $12,500 to the card each year. If you don’t meet this requirement, you’ll be charged the full annual fee.
Other Potential Costs
In addition to the annual fee, there are other potential costs associated with the HSBC Advance Credit Card. Here are some of the most important:
- Late Payment Fee: If you miss a payment, you’ll be charged a late payment fee of $75.
- Overlimit Fee: If you exceed your credit limit, you’ll be charged an overlimit fee of $40.
- Cash Advance Fee: If you use your credit card to withdraw cash, you’ll be charged a cash advance fee of 6% of the amount withdrawn (minimum $15).
- Foreign Currency Transaction Fee: If you use your credit card to make a purchase in a foreign currency, you’ll be charged a foreign currency transaction fee of 2.8% of the transaction amount.
- Cash Advance Transaction Fee: If you use your credit card to withdraw cash in a foreign currency, you’ll be charged a cash advance transaction fee of 6% of the amount withdrawn (minimum $15).
It’s important to note that these fees and charges can add up quickly, so it’s important to use your HSBC Advance Credit Card responsibly and pay your bills on time.
Benefits Beyond Cashback
If you’re looking for a credit card that offers more than just cashback, the HSBC Advance Credit Card has got you covered. Here are some benefits that will make your experience with the card even more exciting.
Travel Perks and Insurance Cover
If you’re planning a trip soon, you’ll be happy to know that the HSBC Advance Credit Card offers a range of travel perks and insurance cover. For starters, you can enjoy up to 12% off hotel bookings and up to 8% off flight bookings at Agoda. You’ll also get access to over 1,000 airport lounges worldwide with the HSBC Entertainer app.
But that’s not all. When you charge your travel expenses to your HSBC Advance Credit Card, you’ll be covered by travel insurance. This includes coverage for medical expenses, travel inconvenience, and personal accident. You can also enjoy up to S$500,000 in travel accident insurance coverage.
Exclusive HSBC Card Promotions
HSBC is known for its exclusive promotions, and the HSBC Advance Credit Card is no exception. From rebates to gifts and vouchers, you’ll enjoy a range of perks when you use your card. For example, you can get a S$150 cashback when you apply for the card online and spend a minimum of S$800 within the first month.
If you’re a fan of Samsonite luggage, you’ll love the exclusive promotion that HSBC is offering. Spend a minimum of S$1,200 on your HSBC Advance Credit Card and you’ll receive a Samsonite Prestige 69cm Spinner Exp suitcase worth S$670.
And that’s not all. With the HSBC Everyday Global Account, you can enjoy fee-free transfers and competitive exchange rates when you travel abroad. This means you can save money on foreign exchange fees and get more bang for your buck.
Overall, the HSBC Advance Credit Card offers more than just cashback. With a range of travel perks and exclusive promotions, you’ll enjoy a truly exciting experience with this card.
Managing Your Card
Once you have received your HSBC Advance Credit Card, managing it is easy and convenient. With online banking and mobile payments, you can check your balance and transaction history, pay your bills, and even shop online from the comfort of your own home.
Online Banking and Mobile Payments
HSBC’s online banking platform is user-friendly and allows you to manage your credit card account with ease. You can access your account 24/7 and view your transactions, statements, and rewards points. You can also make payments to your credit card bill, transfer funds, and set up automatic payments through GIRO.
In addition, HSBC Advance Credit Card supports mobile payments, including Google Pay and Apple Pay. This means that you can use your phone to make payments at participating merchants, making your shopping experience even more convenient.
Customer Service and Support
HSBC’s customer service team is always on hand to assist you with any questions or concerns you may have. You can contact them via phone, email, or through the online banking platform. If you need to report a lost or stolen card, you can do so quickly and easily through the HSBC mobile app.
Overall, managing your HSBC Advance Credit Card is a breeze thanks to the range of online services available. Whether you need to check your balance, pay your bills, or shop online, HSBC has got you covered.
Spending and Rewards
Are you looking for a credit card that provides rewards for your local and overseas spending? The HSBC Advance Credit Card might be the perfect fit for you. Let’s take a closer look at the spending and rewards offered by this card.
Local and Overseas Spending Insights
With the HSBC Advance Credit Card, you can earn up to 2.5% base cashback on eligible local and overseas purchases each calendar month. The base cashback is 1.5% with no minimum spend and 2.5% when you spend above SGD2,000. The base cashback is capped at SGD70 per calendar month. You can earn an additional 1% cashback on credit card spend with HSBC Everyday+ Rewards Programme.
Retail and Dining Advantages
The HSBC Advance Credit Card also offers retail and dining advantages. You can enjoy online shopping and dining offers, as well as welcome gifts. Furthermore, you can benefit from a 1-year annual fee waiver.
To make the most of your credit card spending and rewards, it’s important to be aware of the eligible transactions. The eligible transactions for the HSBC Advance Credit Card include retail transactions, online transactions, contactless transactions, recurring payments, and overseas purchases.
So, if you’re looking for a credit card that offers rewards for your credit card spending, as well as retail and dining advantages, the HSBC Advance Credit Card might be the right choice for you.
Comparing HSBC Advance to Other Cards
HSBC Advance vs Other Cashback Cards
When it comes to cashback credit cards in Singapore, the HSBC Advance Credit Card is a serious contender. However, it’s important to compare it to other options to ensure that you’re getting the best deal for your lifestyle.
One popular alternative to the HSBC Advance Card is the UOB One Card. While the HSBC card requires a minimum spend of $2,000 per month to earn its highest cashback rate, the UOB One Card only requires a minimum spend of $500 per month. However, the UOB One Card has a more complex cashback system, which may be difficult to keep track of.
Another option to consider is the American Express True Cashback Card. This card offers a flat 1.5% cashback on all purchases, with no minimum spend required. However, the card has an annual fee of $171.20, which may not be worth it for some users.
The Maybank Platinum Visa Card is another cashback card to consider. It offers up to 3.33% cashback on all purchases, with no minimum spend required. However, the cashback rate is tiered, so you’ll need to spend a certain amount each month to earn the highest rate.
Choosing the Right Card for Your Lifestyle
When choosing a cashback credit card, it’s important to consider your spending habits and lifestyle. If you’re a low-effort user who doesn’t want to keep track of complicated cashback systems, a card like the HSBC Advance Credit Card may be the best option for you.
On the other hand, if you’re a big spender who can meet the minimum spend requirements, a card like the UOB One Card or Maybank Platinum Visa Card may offer a higher cashback rate.
It’s also important to consider any additional benefits offered by the card, such as travel perks or dining discounts. For example, the HSBC Visa Platinum Card offers discounts at over 1,000 dining outlets in Singapore, while the HSBC Revolution Card offers up to 5x rewards points on entertainment and online purchases.
Ultimately, the best cashback credit card for you will depend on your individual needs and spending habits. Be sure to compare multiple options and read the fine print before making a decision. You can use resources like SingSaver to compare and apply for credit cards online.
Conclusion
Congratulations! You’ve made it to the end of our HSBC Advance Credit Card review. We hope that you found this article informative and helpful in your search for the perfect credit card.
Overall, the HSBC Advance Credit Card is an excellent choice for those who are looking for a cashback credit card that offers a high cashback rate and a wide range of benefits. With up to 3.5% cashback on all purchases, no minimum spend required, and a generous welcome gift, this card is definitely worth considering.
Additionally, the HSBC Advance Credit Card offers a range of other benefits, including annual fee waiver, online shopping and dining offers, and access to HSBC’s global network of ATMs. Plus, with a minimum salary requirement of just S$30,000, this card is accessible to a wide range of consumers.
Of course, as with any credit card, it’s important to carefully consider your own spending habits and needs before applying for the HSBC Advance Credit Card. But if you’re looking for a cashback credit card that offers great rewards and benefits, this card is definitely worth checking out.
So why not apply for the HSBC Advance Credit Card today and start enjoying all the benefits that it has to offer?
Frequently Asked Questions
What exciting rewards can I earn with the HSBC Advance Credit Card?
With the HSBC Advance Credit Card, you can earn cashback on your spending. The cashback rates are tiered, with a base rate of 1.5% and up to 3.5% on eligible purchases. You can also earn additional cashback with the HSBC Everyday+ Rewards Programme. Additionally, you can enjoy exclusive dining, shopping, and travel privileges, such as discounts and freebies, with the HSBC Advance Credit Card.
How does the annual fee for the HSBC Advance Credit Card compare to others?
The HSBC Advance Credit Card offers an annual fee waiver for the first year and subsequent years with a minimum spend of S$12,000 per year. The annual fee for the HSBC Advance Credit Card is S$192.60 per year, which is lower than some other premium credit cards in Singapore.
What are the perks of using the HSBC Advance Credit Card for foreign transactions?
The HSBC Advance Credit Card offers a competitive foreign currency exchange rate, which means you can save money on your overseas spending. Additionally, you can earn cashback on your foreign currency spending, with a cashback rate of up to 2.5% on eligible overseas purchases.
Can you tell me about the cashback cap for the HSBC Advance Credit Card?
The HSBC Advance Credit Card has a cashback cap of S$70 per month. This means that you can earn up to S$70 in cashback per month, subject to the terms and conditions of the card.
What’s the buzz about the interest rate for the HSBC Advance Mastercard?
The HSBC Advance Mastercard has an interest rate of 26.9% per annum. This is a competitive rate compared to other credit cards in Singapore. However, it is important to note that interest charges can quickly add up if you do not pay your balance in full each month.
Is the HSBC Advance account required to maintain a minimum balance, and what are the benefits?
Yes, the HSBC Advance account requires a minimum balance of S$30,000. However, there are benefits to maintaining this balance, such as higher interest rates on your savings and a waiver of certain fees and charges. Additionally, having an HSBC Advance account allows you to enjoy exclusive privileges and discounts on a range of products and services.
