If you’re looking for a credit card that offers cashback on your everyday spending, the HSBC Advance Platinum Credit Card could be a great choice for you. With up to 3.5% cashback on everything, both local and overseas, this card is simple and fuss-free to use. Plus, you can be rewarded with cashback of up to $4,000 annually.
One of the key features of the HSBC Advance Platinum Credit Card is its cashback rewards. You can earn 1.5% cashback on all your spending with no minimum spend required. If you spend more than $2,000 per month, you can earn 2.5% cashback. And if you’re an HSBC Everyday Global Account holder and qualify for the HSBC Everyday+ program, you can earn an additional 1% bonus cashback on your eligible credit card spending.
To be eligible for the HSBC Advance Platinum Credit Card, you’ll need to have an annual income of at least $30,000. The application process is simple and straightforward, and you can apply online or visit an HSBC branch to complete your application. Once your application is approved, you’ll receive your new card in the post within a few working days.
Key Takeaways
- The HSBC Advance Platinum Credit Card offers up to 3.5% cashback on all spending, both local and overseas.
- To be eligible for the card, you’ll need to have an annual income of at least $30,000.
- If you’re an HSBC Everyday Global Account holder and qualify for the HSBC Everyday+ program, you can earn an additional 1% bonus cashback on your eligible credit card spending.
Key Features of HSBC Advance Platinum Credit Card
If you’re looking for a credit card that offers great rewards and benefits, the HSBC Advance Platinum Credit Card is a great option. Here are some of the key features of this credit card:
Credit Card Rewards and Cashback
The HSBC Advance Platinum Credit Card offers cashback on all your transactions and purchases. You can earn up to 3.5% cashback on everything, both local and overseas, making it a great choice for frequent travellers. With a minimum spend of $600 per month, you can earn a cashback of up to $125 per month.
Insurance and Travel Benefits
The HSBC Advance Platinum Credit Card also offers travel insurance cover of up to $1 million, making it a great choice for frequent travellers. You will also receive complimentary travel accident insurance and travel inconvenience insurance when you charge your travel expenses to your HSBC Advance Platinum Credit Card.
Dining and Lifestyle Privileges
In addition to cashback and travel benefits, the HSBC Advance Platinum Credit Card also offers dining and lifestyle privileges. You can enjoy discounts and special offers at selected restaurants, hotels, and spas. You can also enjoy exclusive access to events and promotions.
Overall, the HSBC Advance Platinum Credit Card is a great choice for those who want to maximise rewards with minimal maintenance. With its generous cashback, travel benefits, and dining and lifestyle privileges, it is one of the best credit cards in Singapore for affluents.
Eligibility and Application Process
Income Requirements
To apply for the HSBC Advance Platinum Credit Card in Singapore, you must meet certain income requirements. As a personal banking customer, you need to have a minimum annual income of $30,000 if you are a Singaporean or Permanent Resident, and $40,000 if you are a foreigner, self-employed, or a PR.
Application Essentials
If you meet the income requirements, you can easily apply for the HSBC Advance Platinum Credit Card in Singapore. You can apply online or by visiting any HSBC branch in Singapore. If you are an existing HSBC cardholder, you can apply for the card via online banking.
When applying for the HSBC Advance Platinum Credit Card, you will need to provide your personal and financial details. You will also need to provide your marketing consent, which allows HSBC to contact you about their products and services.
If you want to apply for a supplementary card, you can do so during the application process. Keep in mind that the supplementary cardholder must be at least 18 years old and must be a family member.
In summary, to apply for the HSBC Advance Platinum Credit Card in Singapore, you need to meet the income requirements, provide your personal and financial details, and give your marketing consent. You can apply online or by visiting any HSBC branch in Singapore.
Fees and Charges
As with any credit card, it is important to understand the fees and charges associated with the HSBC Advance Platinum Credit Card. Here is a breakdown of the fees and charges you can expect:
Understanding Annual Fees
The annual fee for the HSBC Advance Platinum Credit Card is S$192.60. However, the annual fee is waived for the first year. Additionally, if you spend at least S$12,500 per year, the annual fee will be waived for subsequent years.
Additional Costs to Consider
In addition to the annual fee, there are other costs to consider when using the HSBC Advance Platinum Credit Card. These include late payment fees, overlimit fees, and foreign transaction fees.
If you make a late payment, you will be charged a fee of S$75. If you go over your credit limit, you will be charged an overlimit fee of S$40. Finally, if you use your card to make purchases in a foreign currency, you will be charged a foreign transaction fee of 2.25%.
It is important to keep these additional costs in mind when deciding whether the HSBC Advance Platinum Credit Card is right for you. However, with the generous cashback rewards and other benefits offered by this card, it may still be a great choice for your everyday spending needs.
Overall, the HSBC Advance Platinum Credit Card offers a great value for those looking to earn cashback rewards on their everyday spending. With a little bit of planning and careful use, you can enjoy the benefits of this card without incurring any unnecessary fees or charges.
Exclusive Benefits for HSBC Customers
As an HSBC customer, you are entitled to a range of exclusive benefits that are designed to help you get more out of your HSBC Advance Platinum Credit Card. Here are some of the benefits you can enjoy:
HSBC Everyday+ Rewards Programme
The HSBC Everyday+ Rewards Programme is a great way to earn cashback on your everyday spending. With the programme, you can earn up to 3.5% cashback on all types of purchases, with no minimum spend required. What’s more, if you are an HSBC Everyday+ customer, you can enjoy an additional 1% cashback on top of your regular cashback earnings.
Preferential Rates for Premier Customers
If you are an HSBC Premier customer, you can enjoy preferential rates on a range of HSBC products and services. This includes preferential rates on loans, mortgages, and savings accounts. What’s more, if you have an HSBC Everyday Global Account, you can enjoy fee-free transfers between your accounts, as well as preferential foreign exchange rates.
Overall, the HSBC Advance Platinum Credit Card is a great option for those looking for a card that offers generous cashback rewards and exclusive benefits for HSBC customers. With features like the HSBC Everyday+ Cashback Programme, the Entertainer app, and preferential rates for Premier customers, this card is a great choice for those who want to get more out of their HSBC Credit Cards.
So, whether you are looking for a card that offers great rewards, exclusive benefits, or both, the HSBC Advance Platinum Credit Card is definitely worth considering. With its range of features and benefits, it is sure to be a great addition to your wallet.
Comparing with Other Cashback Cards
HSBC Advance vs. Other HSBC Cards
If you’re looking for a cashback card from HSBC, you might be wondering how the HSBC Advance Credit Card compares to their other offerings. Here’s a quick breakdown:
HSBC Revolution Card: The Revolution Card offers 5x rewards points on dining, entertainment, and online transactions, but only 1x points on everything else. The Advance Card, on the other hand, offers up to 3.5% cashback on all spending, making it a better option for high spenders who want a simple rewards structure.
HSBC Visa Platinum Card: The Visa Platinum Card offers up to 5% cashback on groceries, petrol, and recurring bills, but only up to $60 cashback per month. The Advance Card offers up to 3.5% cashback on all spending, with no monthly cap, making it a better option for those who spend more than $2,000 per month.
Market Alternatives
While the HSBC Advance Credit Card is a great option for high spenders who want a simple rewards structure, there are a few other cashback cards on the market that might be worth considering:
UOB One Card: The UOB One Card offers up to 5% cashback on all spending, but requires a minimum spend of $500 per month and has a quarterly cap of $300 cashback. If you’re a high spender who can meet the minimum spend requirement, this might be a good option.
American Express True Cashback Card: The True Cashback Card offers 1.5% cashback on all spending, with no minimum spend or cap. While the cashback rate is lower than the Advance Card, it might be a good option for those who want to earn cashback on all spending without any restrictions.
Overall, the HSBC Advance Credit Card is a great option for high spenders who want a simple rewards structure and don’t want to worry about monthly caps or minimum spend requirements. However, if you’re looking for a card with higher cashback rates or more specific rewards categories, there are other options on the market that might better suit your needs.
Maximizing Your Card Usage
When it comes to maximizing your HSBC Advance Platinum Credit Card, there are a few strategies you can use to get the most out of your card.
Strategies for Higher Cashback
One way to maximize your cashback is to focus on your spending. The HSBC Advance Platinum Credit Card offers up to 3.5% cashback on all your spending, both local and overseas. To get the most out of your card, you should try to use it for all your eligible purchases.
Another way to increase your cashback is to pay attention to the minimum spend and cap. The minimum spend for the HSBC Advance Platinum Credit Card is S$2,000 per month, but if you can meet this requirement, you can earn a higher cashback rate of 2.5%. Additionally, there is a cap of S$70 per month on the base cashback, so be sure to keep this in mind when planning your monthly spending.
Utilising Promotions and Deals
HSBC frequently offers promotions and deals for its credit card users, so be sure to keep an eye out for these opportunities. For example, you can currently receive S$150 cashback when you apply for an HSBC credit card online and spend at least S$800 within the first month of approval.
Another way to maximize your card usage is to take advantage of dining deals and other promotions. HSBC offers a range of dining deals, including discounts at popular restaurants and cafes. By using your HSBC Advance Platinum Credit Card for your dining expenses, you can earn cashback while enjoying delicious meals.
In conclusion, by focusing on your spending and taking advantage of promotions and deals, you can maximize your HSBC Advance Platinum Credit Card and earn more cashback. With a little planning and effort, you can make the most of your credit card spend and enjoy the benefits of higher cashback rates and rewards.
Frequently Asked Questions
What fabulous perks come with the HSBC Advance Platinum Credit Card?
The HSBC Advance Platinum Credit Card offers you a wide range of benefits, including up to 3.5% cashback on all your purchases, both locally and overseas. You can also enjoy exclusive dining, entertainment, and travel privileges, including discounts at more than 1,000 restaurants across Singapore. Additionally, you can earn up to 2.5% base cashback on eligible local and overseas purchases and an additional 1% cashback on credit card spend with HSBC Everyday+ Rewards Programme.
How can I be eligible for the HSBC Advance Platinum Credit Card?
To be eligible for the HSBC Advance Platinum Credit Card, you must be an HSBC Advance customer and have an HSBC Advance account in Singapore. You must also be at least 21 years old and have a minimum annual income of $30,000.
What’s the minimum income requirement to apply for this card?
The minimum annual income requirement to apply for the HSBC Advance Platinum Credit Card is $30,000.
Are there any annual fee waivers available for this credit card?
Yes, there is a one-year annual fee waiver for the HSBC Advance Platinum Credit Card. However, subsequent annual fees will apply unless you meet the minimum spend requirement or maintain an HSBC Advance account.
Does the HSBC Platinum Credit Card offer complimentary airport lounge access?
Yes, the HSBC Advance Platinum Credit Card offers complimentary access to more than 1,000 airport lounges worldwide through the LoungeKey program. To enjoy this benefit, you must charge a minimum of $2,000 in eligible transactions to your credit card in the preceding calendar month.
What steps must I take to upgrade to HSBC Premier status in Singapore?
To upgrade to HSBC Premier status in Singapore, you must meet the eligibility criteria, including maintaining a minimum Total Relationship Balance (TRB) of $200,000 or more. Once you meet the eligibility criteria, you can contact your Relationship Manager or visit an HSBC Premier Centre to apply for the upgrade.