Eligibility and Requirements

What is the criteria to apply for an HSBC credit card?

All applicants must be at least 21 years of age with a minimum annual income of S$30,000 for Singaporeans or permanent residents (PR). For foreigners residing in Singapore, a minimum income of S$40,000 is required. A minimum annual income of S$120,000 is required for all applicants of HSBC Visa Infinite credit card. Supplementary card applicants must be at least 18 years of age.

What are the documents required?

For salaried employees for Singaporeans/PRs:

  1. A photocopy of the front and back of your National Registration Identity Card (NRIC); and
  2. Income document(s):
    1. A copy of your eCPF statement contribution submitted via www.hsbc.com.sg/ecpf (Note that a SingPass login is required); OR
    2. Lastest 3 months' computerised payslip; OR
    3. Latest Notice of Assessment with latest 1 month's computerised payslip

 

For self-employed and commission-based earners for Singaporeans/PRs:

  1. A photocopy of the front and back of your NRIC; and
  2. Last 2 years' Notice of Assessment

 

For foreigners:

  1. A photocopy of the front and back of your passport; and
  2. A photocopy of the front and back of your employment pass with at least six month's validity at the time of application; and 
  3. Latest 3 months' computerised payslips OR latest Notice of Assessment with latest 1 month's computerised payslip

How many supplementary cards can I apply?

You can apply up to 5 supplementary cards and they are free for life.

Rewards Programme

Am I eligible for the HSBC's Rewards Programme?

All HSBC primary credit cardholders holding valid HSBC Visa and Mastercard credit cards issued by HSBC Bank (Singapore) Limited, except HSBC Corporate/Company and Advance credit cardholders and supplementary cardholders, are eligible for the programme.

How do I earn the Rewards points?

Each cardholder who holds a Singapore dollar denominated credit card will earn one Rewards point for every S$1 charged to your HSBC credit card on qualifying transactions made locally and overseas. Each Cardholder who holds a US dollar denominated credit card will earn one Rewards point for every US$0.70 charged to your HBSC credit card on Qualifying Transactions made locally and overseas. The earn rate for Rewards points may be accelerated in accordance with the terms and conditions specific to certain credit cards. Cardholders should refer to the credit card specific terms and conditions for details on the accelerated earn rate for Rewards points (as they may be applicable from time to time). Rewards points can be used to redeem shopping, dining and entertainment vouchers, gifts and cash rebates. And your Rewards points last not one but three years.

Can I convert my Rewards points into air miles?

Your Rewards points can be translated into free flights with frequent flyer programmes from Asia Miles™ and Singapore Airlines Krisflyer. Every 5,000 Rewards points can be exchanged for 2,000 miles.

Cash Withdrawal

How much cash can I withdraw?

The amount of cash you may obtain from your card account is subject to a limit imposed by the Bank, in relation to the status of your card account.

Where can I get cash advance around the world?

Cash advances can be made at over 900,000 Visa/ Plus ATMs (for Visa cardholders) and MasterCard/ Cirrus ATMs (for MasterCard cardholders) in more than 120 countries.

Fees and Charges

What is your finance charge and how is it calculated?

Finance charge is levied on the amount withdrawn from the day the transaction is posted to your account until the date payment is made in full or the next statement date, whichever is earlier.

Effective Rate: 25.9% per annum (minimum)

Minimum Charge: S$2.50

Payments

What is the minimum payment?

The minimum payment is 3% of your outstanding balance or S$50, whichever is greater.

How may I make payment?

Payment can be made through the following:

  1. AXS, SAM & SingPost offices1
  2. 7-Eleven stores1
  3. online@hsbc (if you have a banking account with HSBC)
  4. HSBC branches and ATMs
  5. Phonebanking hotline on 1800-227 8888
  6. Bulk cash deposit machines in ATM lobbies
  7. Interbank GIRO/standing instructions1
  8. Cheque made payable to "HSBC"

1For payments made through AXS, SAM & SingPost offices, 7-Eleven stores and Interbank GIRO/Standing Instructions

When will my payment be credited?
Payment Channel Payment Credited
AXS, SAM & SingPost offices After 1 working day (for payments made before 3pm on weekdays) or after 2 working days (for payments made after 3pm on weekdays, weekends and public holidays)
7-Eleven stores After 1 working day (for payments made after 7am on weekdays) or after 2 working days (for payments made after 7am on weekdays, weekends and public holidays)
Interbank GIRO (debited from non-HSBC) On/after credit card account's due date
Standing instructions (debiting from an HSBC account) On/after credit card account's due date
When will my payment be credited?
Payment Channel AXS, SAM & SingPost offices
Payment Credited After 1 working day (for payments made before 3pm on weekdays) or after 2 working days (for payments made after 3pm on weekdays, weekends and public holidays)
Payment Channel 7-Eleven stores
Payment Credited After 1 working day (for payments made after 7am on weekdays) or after 2 working days (for payments made after 7am on weekdays, weekends and public holidays)
Payment Channel Interbank GIRO (debited from non-HSBC)
Payment Credited On/after credit card account's due date
Payment Channel Standing instructions (debiting from an HSBC account)
Payment Credited On/after credit card account's due date

Credit Limit

Can I separate my limit and have separate billing for my supplementary cardholder?

No, the credit limit will be shared between the primary and supplementary cardholder(s). All primary and supplementary cardholder(s)' transactions will be consolidated and reflected in the primary cardholder's statement.

How can I increase my credit limit on a permanent basis?

You can write in to us and enclose a copy of your latest income document for our review. Please go to our Credit Limit Review page for more information.

Will I be able to state my preferred credit limit when I apply for a credit card?

Yes, you may state your preferred credit limit on the application form, and this will be subject to the Bank's review and approval. Alternatively, you may request the credit limit to be assigned by the Bank.

Card Activation / Phonebanking

How do I activate my HSBC cards?

a) HSBC Visa Platinum/HSBC Revolution Credit Card

To activate your card or enrol for use of card magnetic stripe for overseas retail purchases and ATM transactions, call 1800-227 68682

For EMV chip transactions, your card can still be used overseas without the need for enrolment.

2If you are overseas, please call our activation hotline on (65) 6-227 6868

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b) All HSBC Premier credit and debit cards

To activate your card or enrol for use of card magnetic stripe for overseas retail purchases and ATM transactions, call 1800-227 88893

For EMV chip transactions, your card can still be used overseas without the need for enrolment.

3If you are overseas, please call our activation hotline on (65) 6-227 8889.

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c) All HSBC Advance credit and debit cards

To activate your card or enrol for use of card magnetic stripe for overseas retail purchases and ATM transactions, call 1800-227 88864.

For EMV chip transactions, your card can still be used overseas without the need for enrolment.

4If you are overseas, please call our activation hotline on (65) 6-227 8886.

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d) HSBC Visa Infinite Credit Card

To activate your card or enrol for use of card magnetic stripe for overseas retail purchases and ATM transactions, call 1800-227 88115.

For EMV chip transactions, your card can still be used overseas without the need for enrolment.

5If you are overseas, please call our activation hotline on (65) 6-227 8811.

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e) Other Credit Card / Visa Platinum Debit Card

To activate your card or enrol for use of card magnetic stripe for overseas retail purchases and ATM transactions, call 1800-4722 6696.

For EMV chip transactions, your card can still be used overseas without the need for enrolment.

6If you are overseas, please call our activation hotline on (65) 6-HSBC NOW (4722 669).

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How do I reset my phonebanking PIN?

For new customers or existing customers without phonebanking PIN, please call 1800-4722 669.

Why do I need to enrol for overseas use of card magnetic stripe?

Please refer to Card Security Enhancements.

Dynamic Currency Conversion (DCC)

What is Dynamic Currency Conversion (DCC)?

Dynamic Currency Conversion (DCC) is a service offered at selected ATMs located overseas and used by certain merchants and service providers (who may be located overseas or online). DCC converts a foreign currency transaction into the currency of your credit card account at the point of sale. The currency of your card account is Singapore dollars if you have a Singapore dollar issued credit card and US dollars if you have a US dollar issued card.

What happens if the transaction is converted via DCC?

The merchant will convert the transaction amount into the currency of your card account, using a foreign exchange rate determined by the relevant merchant or DCC service provider. This rate may differ from the foreign exchange rate determine by Visa, MasterCard or other relevant card scheme associations.

And with effect from 22 May 2017, all transactions on HSBC credit cards which are converted via DCC will be subject to a fee of 1% of the converted transaction amount. This is a fee imposed by Visa, MasterCard or such other card scheme association (as the case may be).

My transaction was charged outside Singapore, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction.

If the transaction was charged in a currency different from the currency of your card account, the foreign currency transaction fee would be applicable for the transaction instead. For details on tariffs and charges, please read more in the link below.

My transaction was charged in Singapore, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction.

Do note that while some merchants operate locally, they may route their payment processing outside of Singapore. In such cases, Visa, MasterCard or such other applicable card scheme association (as the case may be) would classify the transaction as a foreign currency transaction.

 

For illustrative purposes:

Merchant provides a car transportation service in Singapore via a mobile application. While the merchant quotes its fares in Singapore dollars, their payment processing facilities are located in the Netherlands. When payment is made for the fare using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the fare for a ride is SGD10, there would be an additional DCC fee of SGD0.10 imposed and this will be reflected in your credit card statement.

My transaction was charged online, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction. Do note that while some merchants operate locally, they may route their payment processing outside of Singapore. In such cases, Visa, MasterCard or such other applicable card scheme association (as the case may be) would classify the transaction as a foreign currency transaction.

 

For illustrative purposes:

Merchant provides an online platform for purchasing of books. While the merchant quotes its prices in Singapore dollars, their payment processing facilities are located in Japan. When payment is made for a purchase using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the price of book is SGD10, there would be an additional DCC fee of SGD0.10 imposed and this will be reflected in your credit card statement.

Is the DCC fee applicable on USD credit card?

If the transaction was charged in the currency of your credit card account (i.e, US dollars) and the merchant performs their payment processing outside of the United States and Singapore, the DCC fee would be applicable to the transaction.

 

For illustrative purposes:

Merchant runs a resort which is located in Maldives where transactions are typically charged in USD. While the merchant quotes its prices in US dollars, their payment processing facilities are located within Maldives and not the United States. When payment is made for the resort stay using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the resort charge is USD100, there would be an additional DCC fee of USD1 imposed and this will be reflected in your credit card statement.

Will I know how much is the DCC fee at point of purchase?

No, you will not see the DCC fee when making the purchase as it will only show the purchase amount converted to the currency of your card account.

The DCC fee will be included with the converted transaction amount when it appears in your credit card statement.

What is the difference between charging a transaction or purchase in foreign currency and in the currency of the card account via DCC?

For illustrative purposes:

When visiting Hong Kong, your hotel bill amounts HKD1000. The hotel may offer you the choice of charging your credit card either:

a) SGD 200 or

b) HKD1000

 

For option (a):

You will sign the bill for SGD200 which is HKD1,000 converted into Singapore dollars was based on the foreign exchange rate and administrative fee determined by the merchant or DCC service provider. The DCC fee will be charged after your purchase is converted to Singapore dollars.

The final amount that will be charged to your credit card account will be as follows:

DCC transaction at hotel: SGD 200.00
DCC fee (1% of converted amount): SGD 2.00
Total: SGD 202.00

For option (b):

You will sign the bill for HKD1000, and the transaction will thereafter be converted to the currency of your card account. All conversions will be based on the wholesale foreign exchange rate determined by Visa, MasterCard or other relevant card scheme associations. A foreign currency transaction fee of 1.8% by the bank and 1% by Visa/MasterCard card associations will be applicable. Assuming the exchange rate applied converts the transaction amount to SGD180.83, the final amount charged to your credit card will be SGD185.89.

Will I be charged the fee if my DCC transaction occurred before 22 May 2017?

No, the DCC fee will only apply to transactions effective on and after 22 May 2017.

How can I tell which merchant transactions would be subject to the DCC fee?

You will need to seek clarification directly from the merchant as this depends on how merchants has set up their payment process (which may change from time to time).

Chargeback / Dispute

What should I do if there are transactions charged to my card which were not authorized by me?

Please call our customer service centre immediately if your card is lost, stolen, or if fraudulent transactions have been made. Our customer service officers will assist to block your credit/debit card immediately and also guide you on how to submit a dispute declaration form for the unauthorized transactions.

You can reach us at 1800-4722 669 in Singapore or (65) 64722669 from overseas.

How can I raise a dispute for the transaction(s) charged to my card?

You can download the dispute declaration form from our website. Upon completion, please mail it back to HSBC for review and processing using the business reply envelope printed at the back of the form. Please include all supporting documents (if any) to substantiate your dispute.

Please refer to the below form for any card payment disputes.

If your card is lost or stolen, or if fraudulent transactions have been made, please call our customer service centre to block your credit/debit card immediately.

Should you require assistance on this, please call us at 1800-4722 669 in Singapore or (65) 64722669 from overseas.

When do I need to submit a dispute declaration form?

Require dispute declaration form7:

  • Fraud dispute
  • Consumer dispute (e.g. services not rendered)
  • Processing error (e.g. being overcharged)

 

Do not require dispute declaration form:

  • Cancel recurring services (inform date of cancellation to HSBC)
  • ATM cash not dispensed

 

7Please refer to the dispute declaration form for information of any supporting documents required.

Will I be given a temporary credit for the disputed transaction?

We will inform you via letter if you are eligible for a temporary credit. In such scenario, you do not need to pay for the disputed amount while we continue the dispute investigation.

How long does it take for the dispute to be resolved?

While we will do our best to resolve your dispute in the shortest possible time, the investigation progress also requires review/input from other parties (eg. merchants). As such, the investigation can take between 2 and 6 months upon receipt of your dispute form for the dispute to be resolved.

Will I be informed if my dispute has been resolved?

Yes. We will send you a letter once the result of the dispute has been confirmed.

Who can assist me on queries regarding disputes?

If you have any queries, please call us at 1800-4722 669 in Singapore or (65) 64722669 from overseas.

You can also visit MoneySense website for FAQs on credit card chargeback and dispute resolution.

Quasi cash

What are Quasi cash transactions and what are some of the examples?

Quasi cash are transactions representing a purchase of foreign currency or items (including but not limited to, casino chips, money orders, lottery tickets and travellers cheques) which may be convertible to cash, and such other transactions as determined by us from time to time.

The Quasi cash transactions are based primarily on MCC, and these are the identified MCCs with its respective descriptions (including but limited to the following list):

a) 7802 Government-licensed horse/dog racing

b) 7995 Betting, including lottery tickets, casino gambling chips, off-track betting, and wagers at race tracks

c) 4829 Money orders - wire transfer

d) 6050 Quasi cash - customer financial institution

e) 6051 Non-financial institutions - foreign currency, money orders (not wire transfers), stored value card/load, and travelers cheque

f) 7801 Government-licensed online casinos (online gambling)

Does Quasi cash transactions earn rewards points or rebates?

Rewards points or rebates are only earned on purchases of goods or services. Quasi cash transactions do not qualify as such and, therefore, earn no rewards points nor rebates.

Is there any grace period for Quasi cash transactions?

Quasi cash transactions are treated as cash advances and, therefore, do not qualify for the grace period. As in the case of cash advances, interest begins to accrue once your card has been charged. Besides, quasi cash transactions reduce the available cash advance limit on your card.

Will I incur any cash advance fee if my Quasi cash transaction happened before 15 January 2018?

Only quasi cash transactions posted on and after 15 January 2018 will incur the fee. 

Fee per transaction is 6% of amount withdrawn or S$15, whichever is greater. Interest charges will also be levied at the prevailing cash advance interest rate (28% per annum) on the amount withdrawn from the date of the transaction until the date payment is made in full, or the next statement date, whichever is earlier.

 

Here’s an illustration:

11 January 2018 – Customer makes a quasi-related transaction at the merchant (Transaction date) 

15 January 2018 – Transaction is processed by merchant and posted into customer’s card account (Posting date)

As the transaction was posted on 15 January 2018 onwards, it is deemed as a quasi cash related transaction where Cash Advance fee becomes applicable (though the transaction happened before 15 January 2018).

I was not charged the cash advance fee for the transaction previously, why am I being charged now?

As part of our ongoing review, quasi cash transactions were identified to be of similar nature as cash advance. Thus it was aligned to have the similar fee being imposed.

HSBC Income Tax Payment Programme

Why should I sign up for this payment facility if I already have a monthly GIRO arrangement with IRAS?

You will earn Rewards points for every dollar charged to your HSBC credit card from HSBC if you sign up. 

For Visa Infinite credit card accounts, the Cardholder will earn Rewards points according to the spend tier they are in. For details, please click here

Please note that Rewards points will not be awarded to HSBC Advance Visa Platinum credit card accounts, with effect from 1 July 2017.

If I choose to pay by monthly instalments, can I sign up for this payment facility if I do not have a GIRO arrangement with IRAS?

No, firstly you need to sign up for a GIRO arrangement with IRAS. Upon approval, you will receive a GIRO Instalment Plan from IRAS. Simply fill in the application form, online or download, and submit your GIRO Instalment Plan to HSBC for processing.

If I choose to pay by monthly instalments, how will I know whether the funds have been successfully debited from my HSBC card account and IRAS has successfully debited my GIRO account?

The debit from your HSBC credit card will be indicated on your monthly card statement with the respective description: 'ITX - Income Tax'. You can also refer to your updated bank account passbook/ statement on the IRAS deduction. Cardholders who enrolled for monthly instalment payment will have their participation automatically renewed.

If I choose to pay my taxes via a one-time payment, does IRAS deduct from my specified bank account automatically?

No, after HSBC credits your specified bank account, you will need to make the necessary payment arrangement with IRAS via your preferred method of payment.

If I opt for the one-time payment arrangement, can I request for the amount payable to be less than or more than the amount stated in my official document from IRAS?

No, HSBC will only credit your bank account with the exact amount as indicated in your official documents from IRAS.

When will my Bank/ GIRO account be credited?

Your HSBC credit card account will be debited between the 25th and 30th of each month. The funds will be available on or before the third of the following month. Application forms received after the 20th day of each month will be processed in the following month.

Can I make payments for family or friends?

No, this payment facility is only applicable to HSBC credit cardholders.

Is this payment facility applicable to my supplementary cardholders?

Yes, supplementary cardholders can apply for this payment facility to pay for their own taxes.

What happens if the crediting of funds to the designated bank account / GIRO account for tax payment is not successful for IRAS GIRO deduction due to insufficient funds?

Cardholders are to ensure there is sufficient funds in the bank account for the IRAS deduction in the event if the credit card deductions are unsuccessful. 

Do note that this payment facility will be cancelled if there are three consecutive unsuccessful deductions over three consecutive months. Should the IRAS GIRO be unsuccessful, cardholders will be required to make alternative payment arrangements with IRAS.