Review

Last updated: 2019.12.11 7:5

Too bad it is not an unlimited cashback card

Unfortunately, the HSBC advance card is not an unlimited cashback card as they have a cap on the cashback per month, even for advance banking clients. Furthermore, if you are not an advance banking client, you would not get subsequent card fee waiver if you do not get to spend at least $12,000 in a year.

Products mentioned by this review

HSBC Advance Credit Card

HSBC Advance Credit Card provides a delightful deal for cashback lovers. You can get S$1500 and more cashback annually. The program entails 3.5% cashback for purchases local and overseas for all merchant categories. The great thing about the cashback is that it relies on the total amount that you spend per period rather than select-merchant-categories only. Additional feauters of the card includes: Apple Pay, Visa payWave, SimplyGo, HSBC Virtual Card and Travel Insurance Coverage.

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Providers mentioned by this review

HSBC Bank Singapore

HSBC, a bank that came into existence over a simple idea- a local bank catering to international needs, is now one of the largest banking and financial services organizations in the world. HSBC is one the earliest banks to be established in Singapore with its history dating back to 1877 when its founding members' The Hongkong and Shanghai Banking Corporation Limited, inaugurated its first branch on the island. For more than 150 years HSBC has been connecting customers to opportunities, enabling businesses to thrive and helping people to realize their ambitions by offering a comprehensive range of banking and financial services such as Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. HSBC today is an integral part of the financial sector of Singapore by serving more than 40 million customers, covering over 65 countries and territories in Europe, Asia, North America, and Latin America. Shares in HSBC Holding plc are held by around 200,000 shareholders in 125 countries or territories and it is listed on the London, Hong Kong, New York, Paris, and Bermuda Stock exchanges.

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I don't like their internet banking layout and i find it doesn't seem very friendly to me

I pretty much use this card only when I know that I will spend more than $2000 in a given month and these transaction does not earn more than 2.5% cash back in other card categories. I don't really fancy their internet banking layout as it doesn't seems very friendly to me. Therefore I always rely on the paper statement to make payment.

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It’s my card of choice especially with the 1.5% cashback across all categories

My experience with their customer service is not clement furthermore not getting back to me on the queries I had highlighted but overall, it’s my card of choice especially with the 1.5% cashback across all categories, which allows me to buy discounted Golden Village Tickets and have access to HSBC 1 to 1 Dining deals. Until another credit card offers a greater than 1.5% cashback across all categories without a time frame, this is the card I am sticking to now.

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This is a good cashback credit card for those who have high spending amount every month

I am a low spender hence it may not be easy for me to clock $500 monthly expenditure on credit cards but this is actually a good cashback card at 2.5%, especially where you spend above $2,000. Otherwise, other cards will be a better alternative to this for smaller purchases. This is a good cashback credit card for those who have high spending amount every month. My father uses it to pay for insurance premium as it gives cashback for insurance premium too.

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When I signed up for this card I got $100 vouchers for it

I only just recently purchased this card. There are a lot of rebates features that come with the card, some I am still getting familiar with which I can use to offset my next purchases. When I signed up for this card I got $100 vouchers for it. However there are yet still a lot of promotions going on for this card.

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Family Package Rewards

My family had a really fun time with the 10% off Siam Adventure Club Family Package Booking which came with breakfast for 2 adults and up to 2 kids with a Kids room setup in room and full access to kids activities. We even enjoyed daily evening drinks for whole family on selected menu from 5pm to 6pm.

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If I pay my school fees through HSBC Advance credit card, do I earn cashback? if I charge my University fees (SIM) to it?

Yes I believe you can as it is an online transaction or a recurring bill. Cash backs are awarded to eligible purchase of which fees and charges including finance charges, late charges, interest charges, annual fees are considered eligible. Do note that in the case of HSBC's Balance Conversion Plan, only the total purchase amount will qualify as an Eligible Purchase in the month of purchase. The subsequent instalment amounts under the Balance Conversion Plan will not qualify as Eligible Purchases.

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Would I earn a cashback on my HSBC Advance credit card if I charge my University fees to it?

I believe what you are asking of is if your university fees payment is an eligible purchase. Usually an eligible purchase refers to retail purchases made locally or overseas which including online transactions and recurring bill payments. Cash Back are only awarded to Eligible Purchases and the following transactions are not considered Eligible Purchases and thus will not earn Cash Back or be considered for computation of spend requirement; cash advance, balance transfers, fees and charges (which include finance charges, late charges, interest charges and annual fees), tax payments via HSBC tax payment facility, Instalment Payment Plan, transactions made on brokerage/securities, transactions made on money payment/transfer websites, transactions relating to money orders, traveller's checks, gaming, AXS or ATM transactions, any pre-paid card top-ups including but not limited to EZ-Link, Transitlink or NETS Flashpay and finally donations/donations-in-kind (transactions tagged with MCC 8398 - charitable and social organizations).

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Who has knowledge about the HSBC Advance Credit Card balance transfer and the HSBC spend instalment?

Primarily, HSBC Advance provides digital banking solutions, financial advice and support from expert Advance Managers, preferential rewards, and expatriate banking services that can help you stay in control of your finances and achieve your future goals. With the card balance transfer, they offer a one-time promotional rate of 1.68% p.a. for 6 months which should enable you to be able to enjoy greater financial freedom. Please note that as this is an exclusive one-time promotion for new HSBC Advance credit cardholders only, all balance transfer applications under this promotion must be received by HSBC within 3 months from the card account opening date. On the other hand, the HSBC Spend Instalment helps you manage your finances by dividing your purchases into smaller instalments of 3, 6 or 12 months at a processing fee of up to 5%.

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