How to apply for your HSBC Low Rate Credit Card

The HSBC Low Rate Credit Card is an option for those looking for a lower interest rate on purchases. With a rate of 12.99% per annum, it allows up to 55 days of interest-free purchases and no fees for overseas acquisitions. In addition, it offers 0% per annum on balance transfers for 12 months . Your debt consolidation needs and regular shopping expenses are best met through the lowest interest options.

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In addition, the card includes free domestic travel insurance and allows you to issue additional cards at no extra cost. The annual fee is $99, and the minimum income requirement is $40,000 per year.

In short, this credit card offers smart financial management features while saving on interest costs to become an excellent financial solution for budget-conscious consumers.

Benefits of the HSBC Low Rate Credit Card

The HSBC Low Rate Credit Card provides multiple desired benefits which assist different financial needs. Here are the key benefits:

• Low interest rates: The credit card offers the best ongoing interest rates available to help borrowers reduce their interest expenses. The percentage charged on this card is 12.99% per annum.
• Up to 55 days interest-free on purchases: If you pay your balance in full by the due date, you can enjoy up to 55 days interest-free on new purchases.
• Balance transfer offer: With this credit card feature, you have the opportunity to transfer existing debts so that you can benefit from attractive promotional offers with lower interest rates. Transfer your balances with a 0% interest rate for the first 12 months (subject to an additional fee of 2%).
• Global acceptance: HSBC provides a worldwide payment network, allowing you to use the card for international purchases, both in person and online. In addition, it is accepted worldwide due to its partnership with the operator Visa.
• Rewards and discounts: HSBC’s worldwide network allows you to benefit from exclusive offers and privileges that reduce your expenses. With the Privilege Home&Away program, unlock options with over 27,000 partners worldwide.
• Free travel insurance and no foreign transaction fees: Enjoy free domestic travel insurance when you use your card for qualifying travel bookings. And shop abroad without worrying about foreign transaction fees.

Additional features and benefits

• Online and mobile banking: HSBC gives you simple control over your account through highly functional online and mobile banking apps.
• Mobile payments: Make contactless payments quickly and securely using Apple Pay or Google Pay, whether online or in-store.
• Flexible spending limits: Control your spending and manage your card securely with My Card controls, allowing you to set transaction limits and lock or unlock your card.
• Instant savings app: With the HSBC Instant Savings app, discover thousands of ways to save across multiple retailers.

Prerequisites for applying

To apply for the HSBC Low Rate Credit Card, you must meet the following requirements:

• Be at least 18 years old.
• Be an Australian resident (be an Australian citizen, permanent resident, or hold a long-term visa).
• Have a regular income.Earn at least $40,000 per year.
• Meet HSBC’s credit assessment criteria, have a good credit rating.

During the application process, documents such as proof of identity (Australian driver’s license or passport), proof of residence (for non-Australian citizens), proof of income (pay slip, Australian Tax Office assessment notice or superannuation documents) and additional documents for other sources of income such as rental or investment statements are accepted. All documents must be provided in a recent and complete form.

About HSBC Australia

Global banking leader HSBC Group manages HSBC Australia as its Australian subsidiary. Since 1865 HSBC has developed into a globally trusted financial institution which is now one of the world’s most recognised banking entities.

The services of HSBC Australia encompass personal banking with business banking together with loans and investments and insurance options.

HSBC maintains a solid reputation for delivering innovation as well as delivering exceptional customer satisfaction. HSBC Australia maintains its brick and mortar banking presence alongside its digital focus that allows customers to manage their finances with convenience while maintaining security. Through its worldwide network HSBC enables users to receive top-tier financial services wherever they are located.

Who is this card for?

The HSBC Low Rate Credit Card is ideal for:

• People who need a credit card with low interest rates.
• The card benefits debt consolidators who need to reduce their interest payments.
• Customers who control their spending with budget plans also benefit from no-cost annual finance options.
• The need for global functionality exists because international travellers require their credit cards to function across all borders for transactions.

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Application process: step-by-step guide to apply

• You can apply online in just 10 minutes, and you’ll receive an instant response. If you’re already a customer of HSBC, you can apply via online banking.
• Users need to browse HSBC Australia’s official website.
• Browse to the credit cards section where you can choose the HSBC Low Rate Credit Card.
• Click on “Apply Now.”
• Complete the digital application form which demands both your personal and your financial information.
• Send all necessary verification documents to HSBC Australia.
• The application review process will begin when you submit your documents to HSBC which ends with your approval notice.

For assistance with your application or to apply by phone or in person, call 1300 131 605 (available Monday to Friday, 8:00 AM to 8:00 PM AEST) or visit a local branch.

Fees and tariffs

• Annual fee: An annual fee of $99 applies, which is lower than many other cards with similar benefits.
• Interest rate on purchases: Low rate of 12.99% per annum, with up to 55 days interest-free period. Subject to an additional fee of 2%
• Cash advance fee: 3% or $4 (whichever is higher). And the interest rate for cash advances is 25.99% per annum.
• Late payment fee: $30.

Important information

• Balance transfer offer: 0% interest rate on balance transfers applies for the first 12 months.

For more details on terms, conditions and eligibility, visit the official HSBC website or call 1300 308 880. h

Positives and negatives of the HSBC Low Rate Credit Card

Positives

• Low ongoing interest rates: The HSBC Low Rate Credit Card stands out by offering low ongoing interest rates. This card is ideal for individuals who need to carry a balance on their credit card each month. The lowest market interest rate from HSBC provides significant savings on interest charges compared to standard credit cards. Additionally, you can enjoy up to 55 days interest-free on new purchases if the full balance is paid by the due date.
• Balance transfer option: The HSBC Low Rate Credit Card offers a balance transfer option to help you manage existing credit card debt and minimize interest fees. Moving your balances to this card allows you to take advantage of an introductory rate with low rates for an agreed timeframe. It offers a 0% annual interest rate for 12 months on balance transfers, which is beneficial for those looking to consolidate debt. By transferring your debt to this card, you can pay it off faster with reduced interest expenses.
• Global Acceptance: With the support of HSBC Group and its partner Visa, this credit card is accepted by millions of merchants worldwide. You can confidently use your card for all transactions, whether domestic or international, as it is accepted at almost every establishment.
• Discounts, exclusive offers and travel: HSBC credit cardholders benefit from exclusive promotions and savings through HSBC’s global network and its partner Visa. The card provides access to a range of offers, including travel discounts, dining deals, shopping concessions and entertainment perks. In addition, there are no fees for international transactions, providing more flexibility for travelers shopping abroad.

Negatives

• Annual fee and post-introductory fees: The card charges a $99 annual fee, which may be a consideration for those looking for cards with no maintenance fees. It offers a 0% interest rate on balance transfers for the first 12 months, but an additional 2% fee applies, which increases the overall cost of transferring a balance. After the introductory period, the standard cash advance interest rate of 25.99% per annum will apply. Additionally, there is a cash advance fee of 3% or $4, whichever is greater. It is important to note that the card also offers a 55-day interest-free period on purchases, subject to meeting the payment terms.
• Eligibility criteria: The HSBC Low Rate Credit Card requires you to demonstrate good creditworthiness and a steady financial income for approval. Obtaining approval for this card can be difficult if your credit history is limited or your credit score falls below average standards. Additionally, the card requires a minimum annual income of $40,000, which could be restrictive for some potential applicants.

Call the bank

To assist you in the best way possible, we have different phone numbers depending on your location and the type of service you use.

• If you are an HSBC Premier customer, you can call 1300 301 168 in Australia or +61 2 9005 8192 from outside Australia.
• For personal banking and home loan customers, the numbers are 1300 308 008 in Australia and +61 2 9005 8220 from outside Australia.
• Credit card customers should call 132 152 in Australia or +61 2 9005 8511 from outside Australia. If you wish to open a new account, the number is 1300 131 605 in Australia or +61 2 9005 8899 from outside Australia.
• For SMSF / Non-commercial Entity / Trust customers, call 1300 131 607 in Australia or +61 2 9005 8115 from overseas, Monday to Friday, from 9 AM to 5 PM, except on holidays.

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If you need interpretation in another language, simply inform us when calling or visiting a branch by saying, “I need an interpreter.” HSBC offers free phone interpreter services in over 150 languages.

For customers with hearing or speech impairments, HSBC Australia provides support through the National Relay Service at 1300 308 008, with the requirement of being an Australian resident and registered with the service. For in-person assistance, you can visit a branch using the branch locator.

We remind you that HSBC is committed to protecting its staff and customers and expects respectful behavior. For more information on the irrational behavior policy, please refer to the available document.