No thrills Credit Card (HSBC Credit Card)

Member Name: ordy

Product:	HSBC Credit Card
Date:	27/09/01 (234 review reads)
Rating:

Advantages: No Fee

Disadvantages: Dull, No Points Scheme

I have had an HSBC Gold Card for over 5 years. They used to charge 35GBP and give a poor value points scheme for which I got the odd crate of wine or some CD's. Now they have stopped the annual charge and also stopped the points scheme.

There is little to recommend this card. OK, no fee now, but then surely nobody is paying a fee anymore. Customer service is quite good, but one would expect that from HSBC. Interest rates about 15% - hardly a market leader, but then not as bad as the MBNA's of this world. Sometimes they have offers to transfer balances and pay about 6% for 6 months - I think they do this if you have historically paid interest and then clear your balance. If you clear your balance you pay no interest in that month - again quite normal, but some credit cards cahrge interest (MBNA)

However, I prefer Egg or Goldfish - egg gives 0.5% cashback, Goldfish 1% rebate with vouchers for John Lewis, M&S, British Gas etc... Neither has a fee. Egg's rate is slightly lower, Goldfish slightly higher, so if you are going to borrow on these use Egg.

Overall, I wouldn't go out of my way to apply for one of these credit cards.

Summary: