HSBC Classic Credit Card
No longer offered in the market
The HSBC Classic credit card is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested.
How to applyYou 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.
- 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.
- 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.
- HSBC Instant Savings program. This perk gives you complimentary membership to Frequent Values, which offers you discounts of between 5% and 50% at over 4,500 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. 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.
Rates & fees
- 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.