If you’re looking for a credit card that offers cashback, the HSBC Advance Credit Card in Singapore might be just what you need. With a minimum annual income requirement of SGD30,000 for Singaporeans and Permanent Residents, and SGD40,000 for self-employed or commission-based Singaporeans, Permanent Residents, and foreigners residing in Singapore, this card can help you earn cashback on your everyday purchases.
One of the key features of the HSBC Advance Credit Card is its cashback rewards program. Cardholders can earn up to 3.5% cashback on their purchases, with a base cashback rate of 1.5% and additional cashback available for spending over SGD2,000 per month and for being an HSBC Everyday+ customer. The card also comes with a range of additional perks and offers, including an annual fee waiver and discounts at select merchants.
To apply for the HSBC Advance Credit Card, you can visit the HSBC Singapore website and fill out an online application. You’ll need to provide some basic personal and financial information, as well as proof of your income and employment status. Once you’re approved, you can start using your new card to earn cashback on your purchases and take advantage of the other benefits it offers.
Key Takeaways
- The HSBC Advance Credit Card in Singapore offers cashback rewards of up to 3.5% on purchases.
- Cardholders can enjoy additional perks and offers, including an annual fee waiver and discounts at select merchants.
- To apply for the card, you’ll need to meet the minimum income requirements and provide some basic personal and financial information.
Key Features of the HSBC Advance Credit Card
The HSBC Advance Credit Card is a popular credit card in Singapore that offers numerous benefits to its users. Here are some of the key features of the card that you should know about:
Cashback Rewards System
The HSBC Advance Credit Card offers a simple cashback system that is based on the amount you spend each month. You can earn up to 3.5% cashback on all types of purchases, both locally and overseas. There is no minimum spend required to earn cashback, so you can start earning rewards right away.
Annual Fee and Charges
The HSBC Advance Credit Card has an annual fee of $192.60, which is waived for the first two years. There are also no additional fees for supplementary cards, so you can share the benefits of the card with your loved ones at no extra cost.
Exclusive Benefits for HSBC Customers
As an HSBC customer, you can enjoy additional benefits when you use the HSBC Advance Credit Card. If you have an HSBC Everyday Global Account, you can enjoy preferential rates on your cashback rewards. HSBC Premier customers can also enjoy exclusive privileges such as airport lounge access and travel insurance.
Visa Signature Benefits
The HSBC Advance Credit Card is a Visa Signature card, which means that you can enjoy exclusive privileges and discounts when you use your card to make purchases. Some of the benefits include discounts on dining, shopping, and entertainment, as well as access to Visa Signature events and promotions.
HSBC Everyday+ Benefits
HSBC Everyday+ customers can enjoy additional cashback rewards when they use the HSBC Advance Credit Card. With a minimum spend of $2,000 per month, you can earn an additional 1% cashback on top of your base cashback rate.
In conclusion, the HSBC Advance Credit Card is a great option for those looking for a simple and fuss-free cashback credit card. With its generous cashback rewards, exclusive benefits for HSBC customers, and Visa Signature privileges, it offers a range of benefits that are sure to appeal to a wide range of users.
Maximising Rewards
When it comes to credit cards, the rewards you receive can make a significant difference in your overall financial situation. With the HSBC Advance Credit Card, you have the opportunity to earn cashback on all your spending, both locally and overseas.
Optimising Spending Habits
To maximise your rewards, it’s important to optimise your spending habits. One way to do this is to use your HSBC Advance Credit Card for all your everyday purchases, such as groceries, dining, and transportation. By doing so, you can earn up to 3.5% cashback on your spending.
Another way to optimise your spending habits is to take advantage of the additional 1% cashback you can earn as an HSBC Everyday+ customer. To qualify for this benefit, you need to make a minimum spend of $2,000 per month on your HSBC Advance Credit Card.
Understanding the Cashback Cap
It’s important to note that there is a cashback cap of $4,000 per year for the HSBC Advance Credit Card. This means that once you reach this limit, you will no longer earn cashback on your spending.
To avoid hitting the cashback cap too quickly, it’s important to understand your spending patterns and adjust accordingly. For example, if you tend to spend more on overseas purchases, you may want to limit your spending in this area to avoid hitting the cashback cap too quickly.
By optimising your spending habits and understanding the cashback cap, you can maximise your rewards with the HSBC Advance Credit Card.
Additional Perks and Offers
As an HSBC Advance Credit Card holder, you can enjoy a range of additional perks and offers that can help you save money and enhance your lifestyle. Here are some of the key benefits:
Travel Insurance Benefits
When you use your HSBC Advance Credit Card to book your travel arrangements, you can enjoy complimentary travel insurance coverage of up to $500,000. This includes coverage for medical expenses, trip cancellation, and travel accidents. You can also enjoy up to $2,000 in coverage for lost or delayed baggage.
Dining and Lifestyle Privileges
HSBC Advance Credit Cardholders can enjoy exclusive dining and lifestyle privileges with the Entertainer with HSBC app. This app offers hundreds of buy-one-get-one-free deals on dining, entertainment, and leisure activities across Singapore. You can also enjoy discounts on shopping, fuel, groceries, and transport.
In addition, when you sign up for the HSBC Advance Credit Card, you can choose to receive a sign-up gift of either a Samsonite Zeltus 69cm Spinner Exp Luggage worth $680 or $150 cashback when you spend at least $1,000 and give marketing consent upon applying.
Overall, the HSBC Advance Credit Card is an excellent choice for anyone looking for a credit card that offers a range of benefits and rewards. With its generous cashback program, travel insurance coverage, and dining and lifestyle privileges, it can help you save money and enhance your lifestyle.
Eligibility and Application Process
If you’re interested in the HSBC Advance Credit Card, here’s what you need to know about eligibility and the application process.
Income and Banking Requirements
To be eligible for the HSBC Advance Credit Card, you must be an HSBC Advance customer with an annual income of at least $30,000. If you’re not an HSBC Advance customer yet, you can apply for HSBC Advance online or at any HSBC branch.
Sign-Up Incentives
HSBC offers several sign-up incentives for new HSBC Advance Credit Card customers. For example, if you apply for the card through MoneySmart, you can get a sign-up gift of $150 cashback. Additionally, if you’re a new HSBC cardholder and you provide your marketing consent to HSBC, you can earn up to $80 cashback when you spend a minimum of $800 within the first month of your card approval date.
If you’re an existing HSBC cardholder, you can still apply for the HSBC Advance Credit Card, but you won’t be eligible for the sign-up incentives. However, you can still enjoy the benefits of the card, including up to 3.5% cashback on all your spending, both locally and overseas.
Overall, the application process for the HSBC Advance Credit Card is straightforward and hassle-free. You can apply online or at any HSBC branch, and if you meet the eligibility requirements, you can enjoy the benefits of this cashback credit card.
Comparing with Other Credit Cards
HSBC Advance vs. Other HSBC Cards
If you are looking for a credit card with cashback rewards, HSBC Advance Credit Card is a great option to consider. Compared to other HSBC credit cards, the HSBC Advance Credit Card offers higher cashback rates and more rewards.
For instance, the HSBC Advance Credit Card provides up to 3.5% cashback on all purchases, while the HSBC Revolution Credit Card only offers up to 1.5% cashback on dining, entertainment, and online purchases. Similarly, the HSBC Advance Credit Card offers up to 1% cashback on recurring bills, while the HSBC Visa Platinum Credit Card does not provide any cashback rewards.
Market Alternatives
While the HSBC Advance Credit Card is a great option for cashback rewards, there are other credit cards in the market that offer similar benefits. For instance, the UOB One Card provides up to 5% cashback on all purchases, but has a higher minimum spend requirement of $500 per month.
Another alternative is the American Express True Cashback Card, which offers up to 3% cashback on all purchases, but has a higher annual fee of $171.20. The Maybank Platinum Visa Card is also a good option, offering up to 3.33% cashback on all purchases with no minimum spend required.
If you are looking for low-effort cashback cards, you can consider the Big Spenders credit cards. These cards offer high cashback rates, but require a higher minimum spend. Some examples include the HSBC Visa Infinite Credit Card and the UOB Visa Signature Card.
Overall, the HSBC Advance Credit Card is a great option if you are looking for a credit card with cashback rewards. However, it is important to compare and consider other credit cards in the market to find the best option for your spending habits and financial goals.
Frequently Asked Questions
What fabulous perks come with the HSBC Advance Credit Card?
The HSBC Advance Credit Card comes with a range of exciting perks that make it an excellent choice for anyone looking for a versatile and rewarding credit card. You can enjoy up to 3.5% cashback on all your spending, both locally and overseas, with no minimum spend required. The card also offers exclusive deals and discounts on dining, shopping, travel, and more.
How can I be eligible for the HSBC Advance Credit Card in Singapore?
To be eligible for the HSBC Advance Credit Card in Singapore, you must be a Singaporean citizen or permanent resident, aged 21 or above, and have an annual income of at least $30,000. You must also have an HSBC Advance banking relationship or open an HSBC Advance account to enjoy the full benefits of the card.
What does the HSBC Advance Credit Card offer in terms of cashback rewards?
The HSBC Advance Credit Card offers generous cashback rewards of up to 3.5% on all your spending, with no minimum spend required. You can earn up to $125 cashback per month, or up to $4,000 cashback annually. The cashback is credited automatically to your card account every month.
What’s the annual fee for the HSBC Advance Credit Card, and can it be waived?
The annual fee for the HSBC Advance Credit Card is $192.60, but it is waived for the first year. Subsequently, the annual