HSBC Credit Card Charges – Complete Fee & Penalty Guide

Key Takeaways
 

• HSBC Credit Cards offer options from zero-fee basic cards to premium travel and lifestyle cards.
   
• Interest rates, late payment fees, cash withdrawal, and overlimit charges can add up if not managed carefully.
   
• Paying on time and staying within your credit limit helps you avoid extra costs and maximise benefits.

HSBC Credit Card charges cover joining fees, annual fees, interest rates, cash withdrawals, late payments, overlimit fees, and other service charges. These fees vary depending on the card type and usage.

For example, Riya holds an HSBC TravelOne Credit Card. She pays ₹4,999 as joining and annual fees. One month, she missed the minimum payment of ₹5,000, attracting a late payment fee of ₹500. By understanding these charges, Riya avoids unnecessary costs and plans her spending wisely.

This blog explains all HSBC Credit Card charges in detail, helping users manage their cards effectively and save money.

HSBC Credit Card Joining and Annual Charges

HSBC Credit Cards offer a wide range of options to suit different lifestyles and spending habits. Whether you prefer premium travel benefits or everyday cashback rewards, HSBC Credit Cards provide flexibility and value through transparent joining and annual charges.

With a variety of options ranging from zero-fee to premium cards, HSBC Credit Cards cater to every type of spender. Whether you want luxury travel perks or simple cashback savings, HSBC Credit Cards ensure value for your money with clear and fair pricing.

HSBC Credit Card Interest Rate 

HSBC Credit Card interest rates vary based on the type of card you hold. For instance, the HSBC Smart Value Credit Card has an interest rate of 1.99% per month (23.88% per annum), while the HSBC Platinum and Live+ Credit Cards charge up to 3.75% per month (45% per annum). These rates are applied to outstanding balances not cleared by the due date.

Interest charges may also apply to EMI conversions, balance transfers, and cash advances, depending on your card’s terms. To know the exact rate applicable to your HSBC Credit Card, always check the latest terms and conditions provided by the bank.

HSBC Credit Card Cash Withdrawal Charges 

When you withdraw cash using your HSBC Credit Card, you will incur a cash advance fee in addition to regular finance charges. The HSBC Credit Card cash withdrawal fee is typically up to 2.5% of the total amount withdrawn. These charges can quickly add up, making cash advances an expensive option. It’s best to avoid using your HSBC Credit Card for ATM withdrawals whenever possible to prevent unnecessary extra costs.

HSBC Credit Card Late Payment Charges

The HSBC Credit Card late Payment charges were revised effective 1 January 2020 to ensure better clarity and fairness for all cardholders. These charges apply only when the minimum payment due (MPD) is not cleared by the due date.

If you miss your due date, your HSBC Credit Card will attract a late payment charge based on your outstanding MPD. To avoid these additional costs, always pay at least the minimum amount by the payment due date.

Bonus Tip: Always set up automatic payments for at least your minimum due on your HSBC Credit Card. This helps you avoid late payment fees, interest charges, and keeps your credit score healthy.

HSBC Credit Card Overlimit Charges

Every HSBC Credit Card comes with an approved credit limit, which is the maximum amount you are allowed to spend. If you make a purchase that exceeds this limit, HSBC Credit Card will charge an overlimit fee of 2.5% of the excess amount or ₹500, whichever is higher, along with applicable GST. This fee applies to the first overlimit transaction in each billing cycle.

To avoid these extra costs, it’s best to track your spending and stay within your approved credit limit.

HSBC Credit Card Other fees

The HSBC Credit Card includes a few additional service-related charges that apply in specific cases, such as cheque returns or requests for duplicate statements. These fees may vary, with senior citizens receiving concessions on certain services.

By understanding these HSBC Credit Card service fees, you can manage your card usage more efficiently and avoid unnecessary charges, especially when dealing with cheque payments or duplicate statement requests.

Conclusion

The HSBC Credit Card offers a range of options designed to suit different spending needs, from premium travel cards to everyday cashback cards. However, it’s important to stay aware of the related charges, such as joining and annual fees, interest rates, cash withdrawal fees, late payment penalties, overlimit charges, and other service costs. 

By using your HSBC Credit Card responsibly, paying dues on time, and staying within limits, you can enjoy its benefits while avoiding unnecessary expenses.

FAQ’s

1. What is the joining fee for an HSBC Credit Card?
It depends on the card type, ranging from ₹0 for basic cards to ₹1,10,000 for premium cards like HSBC Taj.

2. What are the interest rates on HSBC Credit Cards?
Rates vary by card, from 1.99% per month (23.88% p.a.) to 3.75% per month (45% p.a.) on outstanding balances.

3. Are there charges for withdrawing cash using an HSBC Credit Card?
Yes, a cash advance fee up to 2.5% of the withdrawn amount applies, along with finance charges.

4. What happens if I pay my HSBC Credit Card late?
Late payment attracts 100% of the Minimum Payment Due, subject to a minimum of ₹250 and a maximum of ₹950 per month.

5. Does HSBC charge for exceeding the credit limit?
Yes, an overlimit fee of 2.5% of the excess amount or ₹500, whichever is higher, is applied on the first overlimit transaction in a billing cycle.
 

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.