Founded in 1865 and headquartered in Hong Kong, HSBC is a financial services company that offers banking and credit cards.
- Competitive APRs
- Rewards programs
- No annual fees
- No foreign transaction fees
HSBC offers an introductory rate of of 0 percent for the first 12 to 18 months for select cards. After that, APRs range from 13.49 to 23.49 percent*, which is competitive within the industry.
HSBC provides a number of rewards programs for customers to participate in and earn points that can be redeemed for travel and merchandise.
No Annual Fees
There is no cost to hold an HSBC card because the company does not charge any annual fees. This can save customers hundreds of dollars each year.
No Foreign Transaction Fees
HSBC does not charge foreign transaction fees, which is an especially great feature for consumers who travel frequently and use their card for international purchases.
HSBC has put a number of security measures in place to protect its cardholders from fraud. For example, the company offers a zero liability guarantee, which means that customers will not be held responsible for unauthorized charges. HSBC also provides 24-hour assistance, emergency card replacement, and emergency cash advances in the event of a lost or stolen card.
- Late payment penalties
- Undisclosed information
Late Payment Penalties
For every late payment, HSBC charges a fee of up to $37. Although this is fairly consistent with industry average, there are some other credit card companies that charge slightly lower fees.
Some credit card companies offer free credit score tracking to help customers stay on top of their credit. However, HSBC has not disclosed whether or not it offers this service on its corporate website.
The Bottom Line
HSBC offers competitive APRs, rewards programs, and security features. In addition, the company does not charge foreign transaction or annual fees. However, HSBC does charge late payment penalties.