HSBC Credit Card Fees and Charges

The finance charges come into play when you do not pay your bills on time or carry forward your due. The interest charged by HSBC Bank varies as per the variant of your credit card. However, HSBC Smart Value Credit Card comes with a dynamic interest rate which is decided by the bank as per your eligibility. Below mentioned are the interest rates charged by the bank for multiple credit cards:

*Note:

• Any changes in the interest rate will be intimated to you in the current billing cycle, but the new interest rate will be applicable from the next billing cycle
• In case of a revision in the interest rate, the revised interest rate will be applicable on the outstanding balance, which is carried forward from the previous billing cycle

Suggested read: What is credit card interest rate and how is it calculated?

HSBC Bank offers an interest-free credit period of up to 48 days without any finance charge levied to the credit card account. It is the period between your last statement date and the current due date. During this period, you do not have to pay the interest accrued on the purchases. However, this is applicable only if the credit card’s outstanding balance, is settled within 3 days of payment due date. Remember, the free credit period will not be applicable for cash advance transactions.

With HSBC credit cards, you can easily withdraw cash from any of the ATMs in India and overseas. But, the cash advance fee of 2.5% of the withdrawn amount or a minimum of Rs. 500* will be levied on your transactions. The cash advance comes into play when you withdraw cash using your credit cards.

For instance: If you withdraw Rs. 30,000, the applicable fee will be Rs. 750, as 2.5% of Rs. 30,000 is Rs. 750. However, if you withdraw Rs. 10,000, the applicable cash withdrawal fee will be Rs. 500, and not Rs. 250.

*For HSBC Premier Mastercard, the minimum cash withdrawal charge is Rs. 300.

HSBC Credit Card Cash Withdrawal Limit: The cash withdrawal limit offered by HSBC Bank varies from cardholder to cardholder. You can check the credit limit assigned to you from your monthly HSBC credit card statement. Usually, the credit limit ranges between 20% to 40% of the total limit. However, it is totally up to the bank when it comes to the credit limit assigned to you.

Also read: Details regarding credit card cash withdrawal

Most of the HSBC Bank credit cards are lifetime-free cards which means you do not have to pay joining and annual fees. Without any fees, you can earn benefits like lounge access, rewards, cashback, discount and much more. Here are the details regarding the annual fees charged by the bank for multiple cards:

Suggested read: Best Lifetime Free Credit Cards

The foreign currency transactions attract forex markup fee which can go up to 3.5% of the transacted amount. Besides, foreign currency transactions, the forex markup fee is also applicable on your overseas ATM cash withdrawals. Below mentioned are the details regarding the forex markup fee charged by HSBC Bank:

Suggested read: Best Credit Cards for International Use

The late payment charges are incurred by the bank if you fail to pay your credit card bill on time and in full. This is also applicable if you are unable to pay even the Minimum Amount Due (MAD). The bank charges a late payment fee if you do not pay the MAD within 3 days of the payment due date. Here are the details about HSBC credit card late payment fee:

*For HSBC Premier Mastercard, the maximum late payment fee charged is Rs. 950.

The over limit fee comes into play when you breach your total credit limit. HSBC Bank charges an over limit fee of Rs. 500 per month if you cross your credit limit. This fee applies to all the credit cards offered by the bank. Therefore, you should never max out your credit limit as it incurs high charges and can also impact your credit score negatively.

HSBC Bank allows you to transfer your current credit card bill to any other existing or new HSBC credit card. However, the bank charges a nominal fee for this facility. The details regarding processing fee and rate of interest charged by the bank on credit card balance transfer are as follows:

• Processing fee: 1.5%, subject to a minimum of Rs. 200
• Rate of interest: 10.99% p.a. to 15.99% p.a. depending on the tenure

Some of the other HSBC credit card fees and charges are mentioned in the table below:

Q. What is the annual fee charged on HSBC Bank credit cards?

A. Most of the cards offered by HSBC Bank are lifetime free, which means you do not have to pay any joining and annual fee. You can avail benefits like rewards, cashback, complimentary memberships, lounge access and much more without any charges. However, for HSBC Cashback Credit Card, the bank charges an annual fee of Rs. 750.

Q. What is the interest-free period offered on HSBC credit card?

A. HSBC Bank offers an interest-free period of up to 48 days, depending on the variant of your card. For instance, HSBC Smart Value and Visa Platinum come with an interest-free period of up to 48 days, whereas, with HSBC Cashback you can get an interest-free period of up to 45 days.

Q. Can I withdraw cash from overseas ATMs via my HSBC credit card?

A. Yes, you can withdraw cash from overseas ATMs through any of the HSBC credit cards. However, the bank charges a cash withdrawal fee of Rs. 2.5% of the transacted amount or a minimum of Rs. 500 for cash withdrawal. Besides this, the overseas cash withdrawal will also attract forex payment charges. Hence, it is advisable not to withdraw cash using your credit card as it incur high-interest charges.

Q. How is interest calculated on HSBC credit cards?

A. The interest is levied if you fail to pay your credit card bill in full. It is calculated on a daily basis and applied to the outstanding balance that remains post due date. Also, in case of cash withdrawal, the interest is applied on a daily basis till the withdrawn amount is paid off.

Q. How can I apply for HSBC Bank credit card?

A. You can apply for HSBC Bank credit cards online by visiting the official website of the bank. Besides this, you can also apply offline by visiting any of the nearest branches and submitting a duly-filled application form. Remember, you also have to attach relevant documents along with the application form. After this, the bank will verify your details and process your request.

Q. Does HSBC Bank charge annual fees for add-on credit cards?

A. No, the add-on credit cards offered by HSBC Bank does not incur any charges. However, there are some limitations on the number of add-on cards you can avail depending on the variant of your credit card.