HSBC credit card, Plastic Money (HSBC Credit Card)

Member Name: kingwazo

Product:	HSBC Credit Card
Date:	25/06/09 (55 review reads)
Rating:

Advantages: Easy to use, good security features

Disadvantages: can end up in debt if not used right

I have been with HSBC for about 7 years now since I was in high school, from a basic bank account with a Solo card to a standard bank account upgraded to a Maestro card. During the summer of 2007 before i went to uni I wanted to open a student account but I went with Lloyds TSB but at the same time I opened up a credit card with HSBC.

Now the credit card looks like any other card plastic with a red background, a picture of flat earth and embossed raised font. Not that this matters but to some it may look bit more respectable (not comparing against gold/platinum, AMEX or other super rich cards). It is by Mastercard.

Now the limit I wanted was a £1000. I got accepted and in the next week I recieved my pin and the card via post in different days. My APR was 15.9%, with 12 months 0% on purchases, but I cannot remember what it was for balance transfers. There is also no annual fee to pay.

Now as a typical student I did put myself in debt but managed to get out of them with a few struggles here and there. However if you was to pay your balance back in full in 56 days then you do not pay back any interest.

I do remember I once went over my balance and I was charged £12, late payments would occur a similar cost but I have yet to find out. However do NOT use this card or any credit card to withdraw cash from the ATM because it will charge you £2.50 each and everytime, even more if you were to withdraw a very large amount.

After 12 months HSBC, without telling me rasied my limit to £1500, which is obviously bad for any person who cannot control there spending.

Statements are sent by the post with all usual transactions, balances and minimum payment (which is £5 or 5%, whatever is higher). They can also be viewed online too via the HSBC website.

Security features are the usual chip and pin, secure mastercode for online purchases and if HSBC sense any unusual activity then they will phone you up to check if everything is ok and vertifying recent transactions.

There is a phone number on the back of the card which is free for lost and stolen cards.

Credit cards are not evil if they are used right and would recommend everyone to have one at least for emergencies. I would recommend this card to anyone unless they can find one with better rates or cashback schemes.

Summary: Good card too keep and in case of emergencies