Review of best HSBC credit cards in Singapore - how do they compare?

HSBC® is a very popular bank locally and globally, with a great range of services for any Singapore resident. If you’re considering getting a HSBC credit card in Singapore this guide will help you choose which might suit you.

We’ll look at some of the best HSBC credit card options for different customer needs, and also touch on Wise which offers a debit card for international use, with mid-market exchange rates and no foreign transaction fees - and which can be a handy addition to any HSBC credit card you pick.

More on that later - first, an overview of the best HSBC credit card options in Singapore.

	Minimum annual income / eligibility	Annual fees	Cashback / rewards	Interest rates⁶	Foreign transaction fees⁶
HSBC Advance Credit Card¹	Age 21 or older Singapore citizens and PR: 30,000 SGD if employed Foreigners: 40,000 SGD If you can’t meet these requirements you can apply with a 10,000 SGD deposit	194.40 SGD	Up to 3.5% cash back based on spend type	26.9% p.a on purchases	3.25%
HSBC Revolution Credit Card²	Age 21 or older Singapore citizens and PR: 30,000 SGD if employed Foreigners: 40,000 SGD If you can’t meet these requirements you can apply with a 10,000 SGD deposit	No annual fee	Up to 10x rewards, which can be the equivalent of 2.5% cash back depending on spend type	26.9% p.a on purchases	3.25%
HSBC Visa Platinum Credit Card³	Age 21 or older Singapore citizens and PR: 30,000 SGD if employed Foreigners: 40,000 SGD If you can’t meet these requirements you can apply with a 10,000 SGD deposit	194.40 SGD	Up to 5% cash rebate based on spend type	26.9% p.a on purchases	3.25%
HSBC Visa Infinite Credit Card⁴	Age 21 or older 120,000 annual income required for all applicants	656.08 SGD	2.25 miles per dollar spend plus travel benefits	26.9% p.a on purchases	3.25%
HSBC Premier Visa Credit Card⁵	Premier customer only - Age 21 or older Singapore citizens and PR: 30,000 SGD if employed Foreigners: 40,000 SGD If you can’t meet these requirements you can apply with a 10,000 SGD deposit	No annual fee	5% cash rebate, and luxury discounts and exclusive offers	26.9% p.a on purchases	3.25%

What to consider when choosing a credit card

HSBC has a strong selection of credit cards available, which range from cards with no annual fee and reasonably flexible eligibility requirements, right through to top tier cards with high annual charges which need you to have a very high income or savings balance.

Before you decide which is best for you, here are some important things to think about:

Minimum income requirements - HSBC credit cards have a minimum income requirement which differs depending on whether you’re a Singapore citizen or PR, or a foreign resident, and whether you’re employed or self employed. If you don’t meet the minimum income requirements, you might also be able to hand over a 10,000 SGD deposit to get a secured card. That said, some premium cards have very strict eligibility rules, so do check the details carefully.

Eligibility rules - generally you need you to meet the minimum income requirement and be 21 or over to apply for a credit card with HSBC. However, some premium cards also need you to hold a minimum deposit, deposit a fixed salary, or take a mortgage or investment with HSBC.

Annual fee - some HSBC cards have no annual fees, while others have costs to pay - around 200 SGD is normal for standard cards, with much higher bills for premium cards in some cases.

Interest rate - all HSBC cards have the same interest rates - but the rate might still vary depending on whether you’re paying for a purchase, getting a cash advance, or making a balance transfer. Check the latest details before you apply as rates do change from time to time.

Cash back and rewards - HSBC has different card options which offer cash back or rebates, rewards and airmiles, or other exclusive luxury and travel benefits for card holders.

Foreign transaction fees - when you spend with an HSBC credit card overseas, or in any foreign currency, there’s an extra fee of 3.25%. This pushes up the cost of your spending. Getting an international debit card from Wise can be a good way to avoid this charge. More on that later.

Learn more about best travel credit cards to avoid foreign transaction fees in Singapore 👀

Here’s a look one by one at each of the 5 top HSBC credit cards we profiled above.

HSBC Advance Credit Card

The HSBC AdvanceCredit Card lets you earn cash back of up to 3.5%, based on a base rate of 2.5% plus an additional 1% if eligible. In total you could earn up to a maximum of 4,000 SGD in rewards annually. There’s also an annual fee waiver for the first year you have the card.

Visa® card for global acceptance No annual fee in year 1 Up to 3.5% cash back based on eligibility requirements Cards are over 85% recycled plastic

HSBC Revolution Credit Card

The HSBC Revolution Credit Card has no annual fee and lets you earn uncapped rewards on all eligible spending. You’ll have to be 21 or older to apply and Singapore citizens and PRs must earn at least 30,000 SGD if employed, while foreigners need an annual salary of at least 40,000 SGD. Like some other HSBC cards, if you can’t meet these requirements you can still apply with a 10,000 SGD deposit.

Visa network - well accepted around the world 10x rewards on online and contactless spending Cash back on all eligible spending with no caps applied No annual fee

HSBC Visa Platinum Credit Card

The HSBC Visa Platinum Card is marketed as the best card for families, with up to 5% cash rebate on major categories like groceries and dining. The eligibility requirements - similar to some other HSBC cards - include either meeting a minimum income requirement, or handing over a 10,000 SGD deposit to secure your card.

Visa network card which can be used globally Up to 5% cash back on family spending across major categories Cash back capped at 1,000 SGD/year 85%+ recycled plastic used for cards

HSBC Visa Infinite Credit Card

The HSBC Visa Infinite Credit Card is a premium card with a high annual fee, and minimum income rules which mean you need to earn 120,000 SGD a year or more. You’ll get lots of luxury and travel benefits and options to earn air miles if you’re able to qualify, including dining discounts, lounge access and expedited immigration clearance when you’re away from home.

Visa network card with good global acceptance Luxury travel and dining benefits Earn air miles and rewards High annual fee, and minimum income requirement

HSBC Premier Visa Credit Card

The HSBC Premier Visa Card is for Premier customers only - which means either having a 200,000 SGD deposit, a 15,000 SGD/month salary or a large mortgage with HSBC. If you qualify there’s no annual fee and you can earn rewards and benefits at a quicker rate than many other cards, plus get access to some luxury offers too.

Visa network card for spending and withdrawals around the world No annual fee Rewards, travel privileges and extras like free access to telemedicine Only available for HSBC Premier customers

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Bring the Wise card - the most international debit card in the world - along with you when travelling or shopping abroad

Credit cards have usually got some extra fees to consider when you travel and spend online with foreign retailers. This can mean you’re paying more than you expect when you use foreign currencies.

Avoid this with an international debit card from Wise, to use alongside your HSBC credit card.

Open a Wise account online or in the Wise app, add money in SGD and spend in 40+ currencies with the mid-market exchange rate and low fees from 0.43%⁷.

Your Wise card has smart technology built in which can automatically convert from dollars to the currency you need to pay at the point of purchase. That way you always get the lowest available fees and you never need to worry about having the right currency to hand when you travel.

Order your Wise card today! 💳

Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

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HSBC credit card application process

You’ll usually be able to apply for an HSBC credit card online if you have SingPass and MyInfo. In this case much of your personal information is prepopulated for ease, but you’ll still need a few extra documents depending on your situation. Generally you’ll have to provide your proof of ID, income and address, either by uploading information online or in a branch.

If you’re a foreigner in Singapore it’s good to know you may be able to use your home credit history here to apply for your account.

How to cancel HSBC credit card

If you have any problems with your HSBC card or if you need to cancel it, you can start a chat in the HSBC app, visit a branch, or call +65 6-HSBC NOW (6-4722 669).

HSBC has different types of credit cards which can suit many different customer needs and preferences. Use this guide to find one which suits how you spend - and remember to take a look at Wise, for a debit card which has no foreign transaction fee and mid-market rates, to keep down the costs of overseas spending.

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Sources:

1. HSBC Advance Credit Card
2. HSBC Revolution Credit Card
3. HSBC Visa Platinum Credit Card
4. HSBC Visa Infinite Credit Card
5. HSBC Premier Visa Credit Card
6. HSBC card fees
7. Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Sources checked on 09/08/2023