HSBC credit card was only annual fee free for the first year now it's for life!
it good for someone who uses there card a lot, so can qualify for the $50 credit. As i understand it u get $50 when u spend at least $500 for the first 3 months. so get $50 when spend $1500 a %3.3333 return on your money which is better then some point reward systems!!!
- $0 Annual Fee for the life of the Card †
- Low balance transfer interest rate - enjoy 0% p.a. until 1 April 2010*
- Low interest rate of just 15.99% p.a.~ on purchases
- $50 cashback when you spend $500 or more in each of the first 3 consecutive months of the Card.#
- Interest rate of 19.99% p.a.~ on cash advances
- Up to 55 days interest-free period^
- Access to discounts and benefits worldwide with HSBC's home&Away Privilege Program
Important Information
- Credit provided by HSBC Bank Australia Limited ABN 48 006 434 162. Fees, charges and lending criteria apply. Terms and conditions apply and are available on request.
- HSBC cardholders who have previously cancelled the same card type as the new HSBC card they are applying for may not be entitled to any promotional offers.
- † This special offer is only available while you remain a customer of HSBC. HSBC cardholders who have previously cancelled the same card type as the new card they are applying for may not be entitled to these special promotional offers.
- *Interest rate on balance transfers applies until 1 April 2010 and is limited to the first balance transfer request per account from other store cards or non-HSBC Credit Cards. After this period, any balance outstanding from the Balance Transfer will accrue interest at the Interest Rate for Cash Advances, currently 19.99% p.a. (Rates subject to change)
- ^ Depending on when you make your purchase, when your statement is issued and whether or not you are carrying forward a balance on your account from the previous statement period. There are no interest free days for cash advances or balance transfers.
- ~ Purchase interest rate applies to purchases only. Cash advances are charged at the cash advance interest rate.
- All interest rates are current as at 28-Sep-09 and are subject to change.
- HSBC may allocate payments we receive from you to pay the total amount owing in any order we see fit including applying any and all payments made to your HSBC credit card account to reduce the balance(s) transferred first and then to any subsequent purchases.
- #To receive the $50 credit, minimum spending must be $500 or more for each month of the first three consecutive months of your new HSBC Credit Card after approval of your card. Any Card fees, Balance Transfers or Cash Advances do not count towards your monthly spend of $500. Your card account must be active and not be in arrears to qualify. Please allow up to three statement periods from the end of this promotion for your $50 credit to appear on your statement. Offer ends 24/12/09. Limited to one $50 credit per customer. $50 credit is not transferable.
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You know that the trick is. If you try and take advantage of the 0% balance transfer. You cant make the $1500 worth of purchases neccesary to get the $50.
This is because any payments you make will reduce the balance transfer amount before your credit card purchases.
If that happens you will incur the 20% interest on the credit card purchases until you pay off the whole balance transfer and then the credit card balance.
Don't be fooled.
Good deal to get the $50 as long as you don't do the balance transfer OR if you pay off the whole balance transfer in the first payment.