One of UK’s largest banks, HSBC is offering its clients credit limit options up to GBP 1,000. Customers with a limit of GBP 1,000 can have a 29.9% variable annual percentage rate and a 29.9% variable purchase rate, according to HSBC UK’s representative example.
Features and Benefits
The bank offers various features for holders of this Visa card. Classic Credit Card users have access to the bank’s cashback program, allowing them to get GBP 25 of their money back when they make a GBP 300-transaction (in the form of purchases or balance transfers) within 60 days of the card issuance.
However, whilst the card can help customers save money and improve their credit ratings, HSBC UK warns clients to make on-time payments and to refrain from going beyond their limits. This is to ensure that users maintain or even build their scores.
Applying for the Card
Eligible candidates are residents of the UK who are over 18 years old and are holders of an HSBC bank, advance, premier, student or graduate account. Bank Account Pays Monthly customers are also welcome to apply. Would-be applicants are also required to have an annual income or pension of at least GBP 8,500 before tax.
Interested consumers can apply on the HSBC website or via branch visits. Unfortunately, the Channel Islands and Isle of Man residents are not eligible for online applications.
Fees and Charges
HSBC UK entices customers by waiving the annual fee. However, prospective customers should take note that a monthly rate of 2.207% applies for purchases and cash advances, as well as for balance and money transfers. Moreover, the bank charges a late payment and credit over limit fee of GBP 12.
HSBC’s offerings are available for customers upon evaluation of their status, affordability and the bank’s terms and conditions.