HSBC Advance Credit Card

HSBC Advance Credit Card

HSBC Advance Credit Card

HSBC Advance Credit Card

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WIN A LUXURY WATCH (WORTH MORE THAN S$17,000)!
HSBC Advance Credit Card is a cash back credit card with 2 tiers of Cashback – base 1.5%, 2.5% with S$2,000 spend. Benefits include annual fee waiver, online shopping and dining offers, and welcome gifts. Minimum salary requirement is S$30,000.
1.5%
Base Cashback
2.5%
Cashback when you spend more than S$2,000
S$70
Cashback Cap per month
MoneySmart Exclusive

[LUXURY WATCH LUCKY DRAW]
Stand a chance to win a Luxury Dive Watch Date Edition (worth over S$17,000) when you apply and spend a min. of S$500 by the end of the following calendar month. Check out our past Lucky Draw winners here! T&Cs apply.
 
[HSBC Online Promotion]

  • New Cardholders can receive a Samsonite ZELTUS 69cm Spinner Luggage (worth S$680) or S$200 Cashback, plus an additional S$100 Cashback with 1 Qualifying Transaction.
  • OR Existing Cardholders get S$50 Cashback for spending a minimum of S$500 and providing marketing consent. T&Cs apply.
  • PLUS stand a chance to win An all-electric Mercedes-Benz EQB and round-trip air tickets to Paris! T&Cs apply.
Valid until 30 Sep 2024 - See more details below

Are you eligible?

    • Promotion is valid from 15-August-2024 to 30-September-2024

    • MoneySmart Exclusive gift of Trip.com Coupon is applicable for New-to-HSBC cardholders only

    • Customers need to apply through MoneySmart to be eligible

    • Applicants need to provide HSBC their consent to receive marketing and promotional materials from HSBC at the time of submitting their application

    • Spend a min. of S$500 in Qualifying Transactions from card account opening date to the end of the following calendar month.

What you need to know

  1. Log into your MoneySmart account and submit your claim by 30th October 2024

  2. Stand a chance to win a Luxury Dive Watch Date Edition (worth more than S$17,000) when you participate in our Lucky Draw by applying through MoneySmart & meeting the min. spend criteria! T&Cs apply.

  3. New Cardholders canget additional gifts from HSBC like: a Samsonite ZELTUS 69cm Spinner Luggage (worth S$680) OR S$200 Cashback, AND get additional S$100 Cashback when you charge at least 1 Qualifying Transaction from Card Account Opening Date to the end of the following month. T&Cs apply.

  4. Existing Cardholders can get S$50 Cashback from HSBC when you spend a min. of S$500 in Qualifying Transactions from Card Account Opening Date to the end of the following month AND provide marketing consent in the application form! T&Cs apply.

  5. Get up to 20 chances for the Lucky Draw when you sign up & activate your HSBC Live+ Credit Card

  6. Earn 5 chances for every S$500 you spend on your card. Register your interest with gift code: ADVENTURE

  7. Live your adventure with HSBC Credit Cards! From 25 June to 23 September 2024, apply, activate and spend with HSBC credit cards and stand to win an all-electric Mercedes-Benz EQB and round-trip air tickets to Paris! T&Cs apply.

  8. MoneySmart exclusive rewards do not stack with external or third party promotions unless otherwise stated. See T&Cs for details.

  9. *Instantly Activate Your Virtual Card for Google Pay and Apple Pay Shopping! T&Cs apply.

T&Cs
FAQ
Claim Form

Quick Facts

Get the maximum value by

earning up to 2.5% cashback if you regularly spend more than S$2,000 per month

Good for

Homeowners and individuals with consistent expenditure between S$2,000 and S$2,800 per month

Categories to maximise this card

Every spend such as online, retail, and dining transactions

What people use it for

As an everyday card for daily transactions

Get if

You spend consistently, appreciate fuss-free automated cashback into your account, and enjoy lots of retail and dining deals and promotions

All Details

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Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

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HSBC Advance Credit Card Benefits 2024

The HSBC Advance Credit Card stands out for its annual cashback potential of up to SGD4,000, and it is just one of HSBC's array of cashback credit cards. It extends cashback incentives across diverse spending categories, including dining, groceries, and recurring bills. Besides that, it offers supplementary advantages tailored for HSBC Advance banking clientele.

If you’re contemplating on getting the HSBC Advance Credit Card, let's delve into its prerequisites, advantages, drawbacks, and more, before you make a decision.

Pros & Cons Of HSBC Advance Credit Card

Pros

  • Interest rate of 26.90%, which is lower than some cashback credit cards (as per MoneySmart's Credit Cards comparison tool
  • 3 tiers to unlock up to 3.5% cashback on all local and overseas spend (range from 1.5% to 3.5% depending on spending category, minimum spend amount and if you’re a HSBC Everyday+ Customer.
  • Annual fee waiver available (for first year only)
  • Access to 1-for- dining, lifestyle and travel promotions via HSBC ENTERTAINER
  • Discounts including 16% off Agoda bookings, 8% off Hotels.com bookings, 9% off Expedia hotel bookings, and more
  • Complimentary travel insurance coverage against flight inconvenience and personal accident of up to S$1 million

Cons

  • The base cashback is capped at S$70 per month
  • Charges annual fee after the first year, unlike other cashback credit cards like CIMB Visa Signature Card and Standard Chartered Smart Credit Card which offer the benefit of no annual fee charges for life
  • Lacks cashback benefits for expenditure on petrol unlike other cards like Citi Cash Back Card and OCBC 365 Credit Card

Find Out More About The HSBC Advance Credit Card In Our Blog Review!

Read Card Review

Compare HSBC Advance Card vs. SCB Simply Cash Credit Card vs. Citi Cash Back + Card

At the moment, the HSBC Advance Card offers the lowest minimum interest rate chargeable as compared to the Citi Cash Back + Card and Standard Chartered Simply Cash Card.

In terms of annual fee, all of the three cards charge the same rate. However, when it comes to cashback benefits, the HSBC Advance Card provides the best variety and better cashback rates than the other two cards, with its maximum tier offering 2 times more the cashback value than the Citi Cash Back + Card and Standard Chartered Simply Cash Card.

There's even a perpetual annual fee waiver for HSBC Advance Card holders who are also HSBC Everyday+ customers. Considering these factors, the HSBC Advance Card could be apt for you as long as you can hit a minimum of $2,000 in your spending every month and if you’re after its cashback benefits and discounts for spending on travel and lifestyle categories.

HSBC Advance Card

Interest rate: From 26.90%

Annual fee:$196.20 for Year 1 (first year waiver available)

Minimum annual income:

  • $30,000-$40,000 for Singaporeans and PRs
  • $40,000 for foreigners

    • Cashback benefits:
  • Up to 3.5% cashback on all local and overseas spend and perpetual annual fee waiver when you’re a HSBC Everyday+ Customer
  • Up to 2.5% cashback on all local and overseas spend when you spend more than S$2,000 per calendar month
  • Base cashback of 1.5% on all purchases when you spend below S$2,000 per calendar month
  • Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel
  • Great overseas spending perks such as worldwide retail and dining discounts including 16% off Agoda bookings, 8% off Hotels.com bookings, 9% off Expedia hotel bookings, and more
  • Complimentary travel insurance coverage against flight inconvenience and personal accident of up to S$1 million

    • Citi Cash Back + Card

    Interest rate: From 27.90%

    Annual fee:$196.20 for Year 1 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $42,000 for foreigners

    • Cashback benefits:
  • 1.6% cash back on eligible spend all year round
  • No minimum spend required and no cap on cash back earned
  • No expiry for cash back earned
  • Back on eligible spend (only valid for Citi Plus customers who are Primary Account Holders of a Citi Interest Booster Account
  • Up to S$1 million coverage for purchases of travel tickets

    • SCB Simply Cash Card

    Interest rate: From 27.90%

    Annual fee:$196.20 for Year 1 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $60,000 for foreigners

    • Cashback benefits:
  • 1.5% cashback on all eligible purchases
  • S$588 cashback within 30 days of card approval
  • $80 cashback referral reward
  • No minimum spend requirement
  • Up to 23.7% fuel savings at Caltex

    • Find Out How To Maximise Your Cashback Credit Card

    Check It Here

    HSBC Advance Credit Card Application

    Here are 3 simple steps to apply for the HSBC Advance Credit Card

    Step 1

    Apply via MoneySmart’s credit cards page

    You may begin your application by clicking on our HSBC Advance Credit Card application link. When you choose to apply online or through the HSBC mobile app and via SingPass MyInfo, HSBC will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

    Step 2

    Provide all documentation required

    You’ll need to provide all the necessary documentation in order for HSBC to approve your credit card application. This list of documents include:

    • NRIC or other identification details Latest computerised payslip
    • Latest 12 months’ CPF Contribution History Statement
    • Latest Income Tax Notice of Assessment (NOA)

    Step 3

    Receive your HSBC Advance Credit Card

    You’ll be able to activate your HSBC Advance Card instantly through the HSBC mobile app, and enter a One-Time Password (OTP) after keying in your 6-digit Online Banking PIN to secure all your credit card transactions. Thereafter, it’s ready for you to use on any of your purchases and you can track your cashback and other rewards with your HSBC mobile app!

    Frequently Asked Questions About HSBC Advance Credit Card

    Are there any fees if I apply for the HSBC Advance Credit Card?

    HSBC Advance credit card charges an initial annual fee of $196.20 (with waiver available for the first year), and other fees like supplementary card annual fee, late payment fee, minimum monthly payment, foreign currency transaction fee, cash advance transaction fee, overlimit fee.

    Am I eligible for the HSBC Advance Credit Card?

    If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the HSBC Advance Credit Card, as long as you’re aged 21 and above, and earn a minimum annual income of $30,000-$40,000 (for Singaporeans and PRs) or $40,000 (for foreigners).