I have tried few credit cards (cashback/miles) from other banks but at the end I still prefer to use this card for most of my transactions. I am using the HSBC Advance account hence the cashback of 2.5% is pretty decent (cap at S$125 per month) with no minimum spend (additional 1% if the spend is over S$2k).
There is perpetual annual fee waiver for HSBC Advance banking customers. I am amazed that they auto-waived the fee without having to make the phone call.
I was able to connect with their agents fairly quickly as compared to other banks via phone call. They were helpful and able to answer my queries.
[Promotions and Perks]
You can download ENTERTAINER with HSBC app to get some 1-for-1 deals and discounts.
So far I am getting cashback from Grab topup (Update: No more cashback from Grab topup after 15 Jul 2020).
Samsung Pay does not support HSBC credit cards for now.
This is a no-brainer for Premier / Advance customers as it can score as high as 3.5% rebate on general spending not covered by other cards. With perpetual fee waiver, this is a card that stays in my wallet.
Have been a HSBC Advance account and credit card customer since Aug 2018. SGD 30K is all you need to be a HSBC Advance customer. It can be SGD 30K on FD promo rate too.
2.5% cashback (3.5% cashback for above SGD 2k spending a mth) is really a good cashback rate for people who are conservative (likes Fixed Deposits/Pure Savings) and hardly spend (no minimum spending required to earn cashback and $125/mth cap on cashback).
Singaporeans and PR; Minimum annual income of $30,000
Foreigners; Minimum annual income of $40,000
If minimum annual income requirements are not met, a minimum Fixed Deposit Collateral of $10,000 is required.
Fees and Charges for HSBC Advance Card
Annual Principle Fee: $193
Annual Supplementary Card fee: Free
Fee waiver: Fee waivered for first year
Interest-Free Period: 20 days
Annual Interest Rate: 25.90%
Minimum monthly payment: 3% or $50, whichever is higher
Late payment charge: $55
Cash advance fee: 6% or $15
Overlimit fee: $40
Key features of HSBC Advance Card
3.5% Cash Back on all purchases
No minimum spend required
1 year annual fee waiver, perpetually waived for HSBC Advance banking customers
1.5% Cash Back with no minimum spend / 2.5% Cash Back on all purchases with $2,000 minimum spend per month, capped at $70 a month
2.5% Cash Back with no minimum spend / 3.5% Cash Back on all purchase with $2,000 minimum spend per month, capped at $125 per month, only applicable to HSBC Advance banking customers.
Perpetual supplementary card annual fee waiver
Cash Back for recurring bill payments
Terms and conditions of HSBC Advance Card
Transactions not eligible for cash back include: cash advances, balance transfers, bank fees, tax payments via HSBC tax payment facility, instalment payment plans, brokerage fees and more. For the full list, please refer to the HSBC Advance Card’s T&Cs.
For more info, you can check out HSBC Advance Card’s page.