Best HSBC Credit Cards | HSBC Advance Credit Card Singapore

Credit Cards
by Priyadarshini 26 April 2023

The HSBC Advance Credit Card offers up to 3.5% cashback on everything you buy. And it is a blessing for folks who can’t keep track of seven different credit cards for various purposes. It’s one of the best cashback credit cards in Singapore for high-spending individuals. Particularly those who spend more than $2,000 every month. In this blog, we discuss the best HSBC credit cards in Singapore. 

HSBC Advance Credit Card Singapore

The HSBC credit card comes with an annual fee of $192.60 (waived the first year), unless a minimum of $12,500 is charged to the card each year thereafter. Also, if you are a customer of HSBC Advance banking you get this service for free. The minimum income required for Singaporeans is  $30,000. And $40,000 for non-Singaporeans. The credit card comes with an annual interest rate of 25.90%.

Best HSBC Credit Cards in Singapore

The HSBC Advance credit card provides a straightforward reward structure depending on the amount you spend each month (not on the specific categories you spend on). It provides favourable rates to holders of HSBC Everyday Global bank accounts. If creating an HSBC Everyday Global account makes sense for you, this is a great card to keep on hand because there is no minimum balance requirement.

Monthly Spending Amount

If you have monthly spending of $2,000 and above you are a global account holder then you will get a cashback reward at 3.5% (capped at $125). And for non-global account holders, the cashback is 2.5% (capped at $70). For customers with monthly spending below $2,000 and global account holder get cashback of 2.5% (capped at $125). For non-global account holders, the cashback is 1.5% (capped at $70). 

How Does the Credit Card Work?

To fully utilize the HSBC Advance Credit Card, you must have an HSBC Everyday Global account. The 3.5% cashback is generous enough, in our opinion. To justify creating an HSBC Everyday Global account if you intend to use this card frequently. Please keep in mind that you must deposit new monies into that account by salary crediting or inward bank transfers from non-HSBC bank accounts (minimum of $2,000 for HSBC Personal Banking customers and $5,000 for HSBC Premier and Jade clients).

Who should apply for an HSBC Advance Credit Card?

The HSBC Advance Credit Card is suitable for newlyweds and married couples. Those who are now faced with the hard realities of managing a household in Singapore. Not only do you have to ensure that everyone is fed and clothed, but you also have to pay for an infinite number of things. Mostly things that you probably never considered when you were still living with your parents. From the basics, such as phone and energy bills, to the large ticket goods. For example, household appliances, you quickly realize you were saving on much more than just rent before you moved out.

That is why married couples who own homes require a credit card that rewards them for all of their expenditures. However, if you have a home, you’ll need a card that rewards you for all of your incidental costs. From washing machine purchases to that slick new sound system. Because you can charge the entire household’s expenses to the card, your expenditure is likely to be higher than a single person’s. This means you’re more likely to be able to achieve a $2,000 monthly minimum spending demand.

Benefits of HSBC Advance Credit Card

The fact that you won’t have to watch your costs down to the last cent is a plus because you’ll probably be too busy trying to get your life in order. Overall, if you can consistently spend more than $2,000 each month, you should choose this card instead of the HSBC Advance, whether or not you are a member of the HSBC Advance Credit Card. The HSBC Advance credit card is one of the best HSBC credit cards in Singapore for big spenders and those who are too busy running a household to check every expense.

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Best HSBC Credit Card
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HBBC Credit Card Singapore
HSBC Advance Credit Card
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