HSBC Credit Card Application: Everything You Need To Know

8 min read By eCompareMo on June 17, 2019

Want to apply for an HSBC Credit Card but not sure where to start? Worry no more as we give you an easy-to-understand guide to the procedure and a few tips for quick approval.

HSBC is a great bank to get a credit card from. They offer features such as 0% interest, no annual fees, and a truly rewarding rewards program. As one of the most trusted international banks serving 66 countries, it also continues to pursue its advocacy to help businesses and uplift the economy.

Here are the things you should know:

Eligibility requirements for HSBC Credit Card Application

Before applying, it is important that you meet the following qualifications:

• At least 21 years of age
• An active primary credit card owner for a minimum of 12 months
• Meet the minimum income per year for the type of credit card being applied for:
  • HSBC Red MasterCard or HSBC Gold Visa Cash Back – P200,000
  • HSBC Platinum Visa – P500,000
• Current HSBC account for other types of credit card:
  • HSBC Advance bank account – HSBC Advance Visa
  • HSBC Premier bank account – HSBC Premier Mastercard

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Supporting Documents for HSBC Credit Card

NOTE: Primary and supplementary applicants should BOTH submit the complete documents:

1. Proof of identity

One of the following IDs: • Passport • Driver’s license • Postal ID • NBI clearance Or two (2) IDs from the following: • Voter’s • UMID • TIN • PRC license • Police clearance • Birth certificate • Company ID (the company should be SEC-registered, and ID should be current) For foreigners, a photocopy of one (1) of the following: • Visa • Immigration Certificate of Residence • Alien Certificate of Registration (with the type of Visa owned)

2. Proof of income

NOTE: This is only applicable for Primary applicants.

If employed: • BIR Form 2316 (Certificate of Tax Withheld) • Payslips (for the last 3 months) • For faster processing, you may include: o A written contract of salary increase o Salary statement o Certificate of Employment (COE)

If self-employed or business owner: • Photocopy of business registration (including a financial statement for the last three months and your photo) • Updated ITR

If an OFW: • Certificate or contract of employment • Working visa or work permit • POEA-issued Certificate or OFW card

3. Proof of residence

If you are the PRIMARY applicant: • Copy of latest personal billing statement addressed to your residential address

If you are the SUPPLEMENTARY applicant: • Copy of latest personal billing statement addressed to your residential address • If you don’t have a personal billing statement but are living with a relative: o the billing statement of the relative with written confirmation of shared living with you (the supplementary applicant) o a photocopy of government ID of the relative o NOTARIZED written confirmation, if the relative has no ID

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Criteria for Choosing the Best HSBC Credit Card Type for You

1. Spending Habits

These are questions you should ask yourself when thinking about why you need a credit card:

• What will I use my credit for?
• How frequently will I use the card?
• How much can I afford to spend and repay regularly?

2. Credit Card Features to take note of

• Annual fee – a yearly fee, separate from interest rates, charged by the bank or credit card company each for the use of the credit card.
• Interest rate – the price to pay for borrowing money from the credit card.
• Rebates – a portion of purchase made from the credit card returned to the cardholder, a reward in the form of cash.
• Rewards – other types of privileges granted to credit card users based on their purchase. Aside from rebates, this includes free airfare, discounted shopping, and discounted dining.

Types of HSBC Credit Cards and a comparison of their features

The way to get the most out of your credit card is knowing what type suits you best. Here is the list of the card types and what their features and perks are.

HSBC Premier Mastercard (No Annual Fee)

1. The application comes for free, and the annual fee is waived for life.

2. Increasing bonus points

3. Free flights rewards

4. Free travel inconvenience coverage and accident insurance

5. Card installment plan up to 36 months of 0% interest with partner merchants

6. Enjoy fast, complimentary, and unlimited Wi-Fi through iPass

7. Membership to over 850 lounges in more than 400 airports around the world (inclusive of dining, spa, and retail offers) in just 27 US dollar.

8. Worldwide Security and Safety • A call seeking assistance when the HSBC Premier Card is lost can process card cancellation and replacement • If needing cash, emergency cash advance is available from more than 245,000 outlets in 200 countries

9. Unique program of privileges for Premier Mastercard credit card users

HSBC Advance VISA

1. Faster rewards for online purchase

2. Online payment of bills that comes with bonus points

3. Get fuel savings rewards

4. 3.20% interest rate per month

5. Installment plan of 0% interest with easy terms and flexible repayments.

6. Get the best deals and exclusive discounts at more than 27,000 establishments worldwide through HSBC Home & Away Privilege Program

HSBC Platinum Visa

1. Annual fee for the first year is waived

2. Bonus point system

3. Entitled to travel inconvenience coverage and accident insurance

4. Exclusive offers on HSBC Home & Away Privilege Program

5. Fuel purchase rebates

6. Contactless Credit Card and eStatement

• No more swiping when paying – simply tap at Contactless Credit Card terminals
• Receive your credit card statement through the email

7. Card and cash installment plans

• Card installment plan up to 36 months of 0% interest with affiliated merchants
• Withdraw cards from your credit card for lower interest rates on its installment plan

8. Auto-bill pay feature: where at scheduled dates, bills are automatically charged to your HSBC Credit Card to avoid past due accounts.

9. Card Balance Transactions

• Balance Transfer – receive savings when you send your balances from your non-HSBC Credit Card to your HSBC Credit Card
• Balance Conversion Plan – pay your purchases via credit card and convert them to installments

10. You can withdraw money from your credit card like a regular ATM card

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HSBC Gold Visa Cash Back

1. Annual fee for the first year is waived

2. Cash back system

3. Fuel savings rewards

4. Exclusive offers on HSBC Home & Away Privilege Program

5. Card installment plan up to 36 months of 0% interest with partner merchants

6. Card and cash installment plans

• Card installment plan up to 36 months of 0% interest with partner merchants
• Withdraw cards from your credit card for lower interest rates on its installment plan

7. Receive your credit card statement through the email

8. Auto-bill pay feature: where at scheduled dates, bills are automatically charged to your HSBC Credit Card to avoid past due accounts.

9. Card Balance Transactions

• Balance Transfer – receive savings when you send your balances from your non-HSBC Credit Card to your HSBC Credit Card
• Balance Conversion Plan – pay your purchases via credit card and convert them to installments

HSBC Red Mastercard

1. Annual fee for the first year is waived

2. Dining, shopping, online, and overseas transactions get 4x bonus points redeemable as items or air miles.

3. Coverage from HSBC Home & Away Privilege Program all over the world.

4. Card and cash installment plans

• Card installment plan up to 36 months of 0% interest with partner merchants
• Withdraw cards from your credit card for lower interest rates on its installment plan

5. Fuel savings rewards

6. Card Balance Transactions

• Balance Transfer – receive savings when you send your balances from your non-HSBC Credit Card to your HSBC Credit Card
• Balance Conversion Plan – pay your purchases via credit card and convert them to installments

7. Auto-charges: at scheduled dates, your bills are automatically charged to your HSBC Credit Card to avoid past due accounts.

8. You can withdraw money from your credit card like a regular ATM card

9. Receive your credit card statement through the email

Other HSBC Credit Cards

• HSBC Gold
• HSBC Classic
• Supplementary Card

You can visit www.hsbc.com.ph for more details on the rest of your credit card types, or you can visit eCompareMo and do a quick comparison among credit cards and quickly find the best HSBC card for you.

Steps to HSBC Credit Card Application

The application process can be done by visiting the HSBC branches in Manila, Davao, and Cebu with your documents. You can also apply online.

How do you apply online?

1. Choose the credit card type you want after confirming your eligible.
2. Go to HSBC Credit Card page and click on ‘Apply Now’ from your chosen credit card type.
3. Type in and submit the needed personal information, valid IDs, and credit card details from non-HSBC bank.
4. You will receive a request for submission of supporting documents.

(Read: Why You Should Use A Credit Card For Travel)

FAQs

How long does a HSBC credit card application take?

It takes about 5 to 10 banking days to process the application after you submit the necessary documents.

How do you activate your HSBC Credit Card?

To activate your HSBC Credit Card, call the hotline at (02) 85-800 or +63 (2) 976-800 (when overseas).

How many supplementary cards you can have for HSBC Credit Card?

Up to four (4) supplementary cards.

Did you find this process easy? For further questions, visit the official website of HSBC bank. But if you think you are ready to get a brand new card, better start your HSBC Credit card application now.