HSBC Classic Credit Card

Get access to interest-free payment plans that last from 3 to 60 months when you make large purchases at participating retailers.

The HSBC Classic Visa combines everyday credit card features with unique benefits – including 0% p.a. finance options when you spend $500 or more at participating retailers.

You can also get discounts at participating restaurants, hotels, supermarkets and other retailers through the HSBC Instant Savings program.

Product NameHSBC Classic Credit Card
Balance transfer rate4.99% p.a. for 15 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (25.99% p.a.)
Purchase rate (p.a.) 23.99% p.a.
Annual fee$79 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)25.99% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$1,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Minimum Income$20,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Annual fee$79 p.a.
Minimum Monthly Repayment3% of the outstanding balance or $20, whichever is higher
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Cash Advance FeeThe higher of $4 or 3% of the total cash advance amount
Number of Additional Cardholders0

Pros

  • Enjoy 0% p.a. interest shopping for 3 to 60 months on purchases over $500 at more than 1000 retailers.
  • Pay 4.99% p.a. interest on balance transfers for up to 15 months when you apply through Credit Cards Online and use the promotional code '01R3M7'.
  • Request an additional cardholder at no extra cost.
  • Save money at participating merchants with a complimentary membership to Frequent Values.

Cons

  • At the end of the interest-free promotional period, any remaining balance will attract interest at the cash advance rate, currently 25.99% p.a.

Benefits of the HSBC Classic Credit Card

  • HSBC Instant Savings program. This perk gives you complimentary membership to Frequent Values, which offers you discounts of between 5% and 50% at participating restaurants, hotels, supermarkets and other retailers.
  • Balance transfer offer. This card offers 4.99% p.a. on balance transfers for 15 months when you move debt from a non-HSBC credit card. At the end of the introductory period, any remaining balance from the transfer will attract interest at the cash advance rate. Note that this offer is valid when you apply through Credit Cards Online and use the promotional code 01R3M7. If you're applying in a store and want to get this offer (or if you have further questions) call HSBC on 132 152.
  • 0% p.a. interest for 3 to 60 months on eligible purchases. Get access to interest-free finance plans of between 3 and 60 months when you use your HSBC Classic to make purchases worth over $500 at participating retailers. You can view a list of participating retailers on the HSBC website, then check retailer websites or stores for details of specific offers. Note that minimum monthly repayments will apply during the interest-free promotional period. At the end of this period, any remaining balance will attract interest at the cash advance rate for this card.
  • Complimentary insurance covers. The HSBC Classic offers you complimentary purchase protection insurance, extended warranty insurance and a guaranteed pricing scheme for eligible purchases made with the card.
  • Up to 55 days interest-free. Outside of any in-store 0% p.a. payment plans, this card offers up to 55 days interest-free on purchases if you pay your balance in full (including payment plan balances) by the due date on each statement. This means interest-free days won't apply when you're paying off a payment plan or balance transfer debt.

Features of the HSBC Classic Credit Card

  • Annual fee. The $79 annual fee on this card is charged when you open the account and then each year on that anniversary.
  • Purchase rate. This card has a purchase rate of 23.99% p.a., which is on the higher end of the scale for credit cards in Australia.
  • Cash advance rate. If you get an interest-free payment plan and don't pay off the purchase during the promotional period, the standard cash advance rate of 25.99% p.a. will apply to the remaining balance. This rate also applies when you use the card to withdraw money, make other transactions classified as cash advances or if you have not paid off a balance transfer by the end of the introductory period.
  • Foreign transaction fee. If you use this card overseas or online with a store based overseas, you'll be charged a fee worth 3% of each transaction.

How to apply for the HSBC Classic Credit Card

You can apply for the HSBC Classic online via the bank's secure application form, You also have the option of applying in-store at any retailer that offers interest-free finance through this account. Before you apply, make sure you meet the following eligibility requirements and have all the relevant information on hand.

Eligibility criteria

  • Minimum income. You must earn a minimum of $20,000 per year.
  • Age. You must be at least 18 years old to apply.
  • Credit history. You must have good credit history to apply for this card.

Documents and details to provide

  • Personal details. This includes your full name, date of birth, residential address and contact information. You'll also need a valid form of ID, such as your driver's licence or passport.
  • Employment details. This covers your employment status, job title, salary and employer's contact details. You also need to provide recent payslips or letter from your employer showing how much you earn each month after tax.
  • Financial details. This includes any other forms of income – such as pensions or government payments – as well as savings and other assets. You also need to include information about any existing loans, credit cards or other debts, along with an estimate of your share of household expenses such as rent, mortgage payments, bills and groceries.
  • Balance transfer details. If you want to move existing debt over to this account, you need to provide details of the total balance you want transferred, along with the account name, account number and the institution's BSB. Note that you can request a balance transfer from Australian credit cards or store cards that are not issued by HSBC.
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Credit Cards Comparison

Rates last updated May 25th, 2019
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