Are you looking for a credit card that offers great cashback rewards and benefits? If so, you may want to consider the HSBC Advance Credit Card in Singapore. This credit card is designed for high spenders who want to earn cashback on their everyday purchases.
With the HSBC Advance Credit Card, you can earn up to 3.5% cashback on all types of purchases, with no minimum spend required. This makes it one of the best cashback credit cards in Singapore for people who want to save money on their daily expenses. Plus, with an annual fee waiver for the first year, you can enjoy the benefits of this card without worrying about any additional costs.
In this quick review, we’ll take a closer look at the HSBC Advance Credit Card and explore its features, benefits, and drawbacks. We’ll also compare it to other credit cards in Singapore to help you decide if it’s the right choice for you. So, if you’re interested in learning more about this credit card, keep reading!
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Looking for a no-frills cashback card in Singapore? The HSBC Advance Credit Card might be the answer. It offers a flat 3.5% cashback on all your spending, with no minimum spend required. Plus, you get the first year free of the annual fee.
Here’s a quick rundown:
- Cashback: 3.5% on all spending, no minimum
- Annual fee: S$192.60 (waived for the first year)
- Other perks: Online shopping discounts, welcome gift
While there are cards with higher cashback rates, they often come with minimum spending requirements or category restrictions. If you’re looking for a simple and straightforward cashback card, the HSBC Advance Credit Card is a good option to consider.
Is it right for you?
This card is ideal for:
- High spenders who want to earn cashback on everything they buy
- People who don’t want to worry about meeting minimum spending requirements
- Those who value the convenience of a no-frills cashback card
Before you apply:
- Be sure you can afford to pay your balance in full each month to avoid interest charges.
- Compare the HSBC Advance Credit Card to other cards on the market to see if it’s the best fit for your needs.
Understanding the HSBC Advance Credit Card
If you’re looking for a credit card that offers generous cashback on everything you spend, the HSBC Advance Credit Card might be the perfect fit for you. In this section, we will take a closer look at the key features of the card, the eligibility criteria, and how to apply.
Key Features
The HSBC Advance Credit Card is a Visa card that offers up to 3.5% cashback on everything you spend, both locally and overseas. The cashback is tiered, with a base cashback of 1.5%, and 2.5% cashback when you spend at least SGD2,000 per month. HSBC Everyday+ customers get an additional 1% cashback. The card also offers a range of other benefits, including:
- Annual fee waiver
- Online shopping and dining offers
- Welcome gifts
Eligibility Criteria
To be eligible for the HSBC Advance Credit Card, you must meet the following criteria:
- You must be a Singapore citizen, permanent resident or foreigner
- You must be at least 21 years old
- Your minimum annual income must be at least SGD30,000
You will also need to provide your NRIC or passport and proof of income when you apply for the card.
How to Apply
To apply for the HSBC Advance Credit Card, you can visit any HSBC branch in Singapore or apply online. The online application process is simple and straightforward, and you should receive a response within a few business days. If your application is approved, you will receive your new credit card within 7-10 business days.
Rewards and Cashback Benefits
If you’re looking for a cashback credit card that offers generous rewards, the HSBC Advance Credit Card might be the perfect fit for you. This card offers up to 3.5% cashback on all purchases, both local and overseas, with no minimum spend required.
Cashback on Purchases
The HSBC Advance Credit Card offers a base cashback rate of 1.5%, which can be increased to 2.5% if you spend at least S$2,000 per month. Additionally, if you’re an HSBC Everyday+ customer, you’ll receive an additional 1% cashback on all purchases. There is no limit to the amount of cashback you can earn, and the rewards are automatically credited to your account every month.
Additional Perks and Offers
In addition to cashback rewards, the HSBC Advance Credit Card comes with a host of other perks and offers. For instance, you’ll enjoy an annual fee waiver, which means you won’t have to pay any fees to use the card. You’ll also receive exclusive discounts and promotions when you shop online or dine at participating merchants.
Understanding the Cashback System
To make the most of your HSBC Advance Credit Card, it’s important to understand how the cashback system works. The cashback rate is capped at 3.5%, which means you won’t be able to earn more than that amount in rewards. Additionally, the cashback rate applies to all purchases, regardless of the category. So whether you’re buying groceries, paying bills, or shopping online, you’ll earn cashback on every transaction.
Financial Prudence with HSBC Advance
If you’re looking for a credit card that offers a balance between rewards and financial prudence, the HSBC Advance Credit Card might be the perfect fit for you. In this section, we’ll take a closer look at the card’s fees and charges, interest rates, and credit management options.
Fees and Charges
The HSBC Advance Credit Card has an annual fee of S$192.60, which is waived for the first year. Additionally, there are no overlimit fees or cash advance fees, which can save you money in the long run.
Interest Rates
The card has a standard interest rate of 25.9% per annum, which is relatively high compared to other credit cards in Singapore. However, if you’re able to pay off your balance in full every month, you won’t have to worry about interest charges.
Credit Management
HSBC offers a variety of credit management tools to help you stay on top of your finances. For example, you can set up automatic payments to ensure that you never miss a payment and incur a late payment fee. You can also view your account balance and transaction history online or through the HSBC mobile app.
In terms of minimum income requirements, you’ll need to earn at least S$30,000 per annum to be eligible for the HSBC Advance Credit Card. Additionally, the minimum monthly repayment is 3% of your outstanding balance or S$50, whichever is higher.
Lifestyle and Convenience
If you’re looking for a credit card that can enhance your lifestyle and offer you convenience in your daily transactions, the HSBC Advance Credit Card is worth considering. This card comes with a range of benefits and perks that can help you save money and enjoy the finer things in life.
Dining and Entertainment
With the HSBC Advance Credit Card, you can enjoy a range of dining and entertainment privileges. For example, you can get up to 15% off your total bill at selected restaurants when you use your card to pay. You can also enjoy 1-for-1 deals on dining and entertainment with the Entertainer app. Plus, you can get preferential rates and discounts on tickets to selected events and shows.
Travel Benefits
If you love to travel, the HSBC Advance Credit Card can help you save money and enjoy a more comfortable journey. For example, you can get up to 10% off your hotel bookings and preferential rates on car rentals when you book through Agoda or Rentalcars.com. You can also enjoy discounts on airport limousine transfers and access to over 1,000 airport lounges worldwide with your Visa Infinite card.
Shopping and Everyday Spend
The HSBC Advance Credit Card also offers a range of benefits when it comes to shopping and everyday spend. For example, you can get cashback of up to 3.5% on all your local and overseas spend, with no minimum spend required. You can also enjoy discounts and rebates at selected merchants, and make contactless payments with Visa payWave, Apple Pay, or Google Pay for added convenience.
Tip
Maximize your savings and rewards by consolidating your everyday expenses onto your HSBC Advance Credit Card. Keep track of your spending to ensure you make the most of the cashback rewards, dining discounts, and travel benefits available.
Remember to take advantage of the contactless payment options like Visa payWave, Apple Pay, or Google Pay for seamless transactions on the go, earning rewards effortlessly. By optimizing your card usage, you’ll unlock a world of perks and savings tailored to enhance your lifestyle.
Global Advantages
If you’re someone who travels frequently or makes purchases from overseas merchants, you’ll be pleased to know that the HSBC Advance Credit Card comes with several global advantages that make it a great choice for frequent travellers.
Worldwide Acceptance
The HSBC Advance Credit Card is accepted at millions of locations worldwide, making it a convenient option for those who frequently travel abroad. Whether you’re shopping online or in-store, you can use your HSBC Advance Credit Card to make purchases with ease.
HSBC Everyday Global Account
In addition to worldwide acceptance, the HSBC Advance Credit Card also comes with the HSBC Everyday Global Account. This account allows you to access your funds in multiple currencies, making it easy to manage your finances while travelling overseas. With this account, you can enjoy preferential foreign exchange rates and avoid foreign currency transaction fees when you make purchases in foreign currencies.
Moreover, the HSBC Everyday Global Account comes with travel insurance coverage, including flight inconvenience and personal accident insurance. This means that you can travel with peace of mind knowing that you’re covered in case of any unforeseen circumstances.
Maximising Your Rewards
The HSBC Advance Credit Card offers a range of rewards and benefits that can help you save money and get more out of your spending. Here are some tips on how to maximise your rewards:
Strategic Spending
To get the most out of your HSBC Advance Credit Card, it’s important to use it strategically. Make sure you’re using the card for all your regular spending, such as groceries, dining, and entertainment. This will help you earn cashback on your everyday purchases.
You can also consider using your card for larger purchases, such as electronics or travel, to earn even more rewards. However, make sure you have the funds to pay off the balance in full at the end of the month to avoid interest charges.
Promotions and Partnerships
HSBC often runs promotions and partnerships that can help you earn even more rewards. Keep an eye out for these offers and take advantage of them when they align with your spending needs.
For example, HSBC frequently offers cashback or bonus rewards for meeting minimum spending requirements within a calendar month. This can be a great way to earn extra rewards on top of your regular spending.
Additionally, HSBC has partnerships with various merchants, both online and offline, that offer exclusive discounts or cashback when you use your HSBC Advance Credit Card. Be sure to check the HSBC website for a list of current promotions and partners.
By using your HSBC Advance Credit Card strategically and taking advantage of promotions and partnerships, you can maximise your rewards and get the most out of your spending.
Additional Cardholder Benefits
As an HSBC Advance Credit Cardholder, you can enjoy a variety of benefits for supplementary cards and exclusive programmes.
Supplementary Cards
You can apply for up to 5 supplementary cards for your family members or friends, and they can enjoy the same benefits as you. With no annual fee for the first supplementary card, and S$96.30 per year for each additional card, it’s a great way to share the benefits of your HSBC Advance Credit Card.
Exclusive Programmes for Cardholders
As an HSBC Advance Credit Cardholder, you can enjoy exclusive programmes and benefits designed to enhance your lifestyle. For example, you can enjoy discounts on dining, shopping, travel, and entertainment with Visa Signature privileges. You can also enjoy exclusive offers from HSBC Premier, HSBC Everyday+, and HSBC Personal Banking.
If you are an HSBC Jade customer, you can also enjoy exclusive benefits such as a dedicated relationship manager, access to exclusive events, and personalised services to meet your financial needs.
In addition, HSBC Personal Banking customers can enjoy exclusive benefits such as preferential rates on loans, priority processing of applications, and a dedicated hotline for assistance.
Comparing HSBC Advance with Other Cards
Competitor Analysis
When it comes to choosing the right credit card for your needs, it’s important to compare the different options available in the market. The HSBC Advance Credit Card is a great choice for those who want to earn cashback rewards on their everyday spending. However, it’s always a good idea to compare it with other cards to make an informed decision.
Here’s a quick comparison of the HSBC Advance Credit Card with other popular cards in Singapore:
UOB One Card
The UOB One Card is another popular cashback card in Singapore. It offers up to 5% cashback on all spending, but the cashback is tiered and requires a minimum spend of SGD 2,000 per month. In contrast, the HSBC Advance Credit Card offers up to 3.5% cashback on all spending, with no minimum spend required.
American Express True Cashback Card
The American Express True Cashback Card is a straightforward cashback card that offers up to 3% cashback on all spending. However, it comes with an annual fee of SGD 171.20, which is waived for the first year. The HSBC Advance Credit Card, on the other hand, has no annual fee for the first year and offers up to 3.5% cashback on all spending.
Maybank Platinum Visa Card
The Maybank Platinum Visa Card is a low-effort cashback card that offers up to 3.33% cashback on all spending. However, it requires a minimum spend of SGD 300 per month and the cashback is capped at SGD 30 per month. The HSBC Advance Credit Card, in comparison, has no minimum spend requirement and offers up to 3.5% cashback on all spending.
Frequently Asked Questions
What exciting benefits can I expect with the HSBC Advance Credit Card?
The HSBC Advance Credit Card offers a host of exciting benefits to its users. You can earn up to 3.5% cashback on all types of purchases, with no minimum spend required. The cashback is divided into three tiers – base 1.5%, 2.5% with S$2,000 spend, and HSBC Everyday+ customers get additional 1% Cashback. You can also enjoy annual fee waiver, online shopping and dining offers, and welcome gifts.
How can I maximise my cashback with eligible transactions on my HSBC Advance Card?
To maximise your cashback with eligible transactions on your HSBC Advance Card, you should use the card for all your daily expenses such as groceries, dining, petrol, and online shopping. This will help you accumulate cashback rewards quickly. You can also consider using the card for big-ticket purchases to earn higher cashback rates.
Are there any particular transactions that are excluded from earning rewards on the HSBC Advance Credit Card?
Yes, there are a few transactions that are excluded from earning rewards on the HSBC Advance Credit Card. These include balance transfers, cash advances, instalment payment plans, and payments to charitable or religious organisations. Please refer to the terms and conditions for a complete list of exclusions.
What are the terms and conditions for the HSBC Advance Credit Card cashback programme?
The terms and conditions for the HSBC Advance Credit Card cashback programme are straightforward. You will earn cashback on eligible transactions made with your card. The cashback will be credited to your account on a monthly basis. There is no minimum spend required, and there is no cap on the amount of cashback you can earn. Please refer to the terms and conditions for more information.
How does the HSBC Advance Credit Card handle foreign transaction fees?
The HSBC Advance Credit Card is an excellent choice for frequent travellers as it offers competitive foreign transaction fees. You will be charged a fee of 1.5% of the transaction amount for foreign currency transactions. This is significantly lower than the industry average of 2-3%. Please note that the foreign transaction fee is subject to change, and you should check with HSBC for the latest rates.
What are the latest promotions available for HSBC Advance Credit Cardholders?
HSBC regularly offers promotions to its Advance Credit Cardholders. These promotions could include cashback offers, discounts on dining and shopping, and other exclusive deals. Please check the HSBC website or contact customer service for the latest promotions available for HSBC Advance Credit Cardholders.
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