Comparison Of Hsbc Credit Card Uk With Other Credit Cards On Market Place

Credit card business is one of the most lucrative and valuable business for the banks

. There are many good reasons for the same. It is like small investment loans to the customers thus reducing the risk on the investment. The returns on the investment are marginally good and banks also earn from the transactions on the merchants shops.

It is very important to have a better features and plans associated with credit cards issued by the banks. HSBC bank is one of such banks, which offers exceptionally great features and plans for its customers on its credit cards. Although, it is bit difficult for a customer to get HSBC credit card until it has a current account with HSBC banks. Lets compare the features of HSBC credit cards UK with other credit cards available on the market place.

It has one unique condition pertaining to issuance of the card; other banks have no conditions to have an account with them for issuance of a credit card but HSBC has this condition placed on the top. Other banks offer high cash advance rates while this bank offers comparatively low rates for this type of transaction. This bank offers 2.99% upfront against 3% upfront charged by other banks. It charges 23.9% p.a. interest rates on cash advance while other banks charge more than 27.9% p.a. So this credit card is more suitable for a customer who wants cash advances on credit cards.

HSBC credit cards have longer balance transfer duration of 15 months while the other banks have it maximum of 12 months. The fee for balance transfer is also low as compared to others; it is 2.9%. You get an interest free payback time of about 15 minutes while other banks do not offer this much time for the same.

HSBC bank credit cards offer a good introductory purchase duration of about 3 months, which very reasonable but other banks are also offering this much time or even bit more. So it is not much admired feature in comparison with other ones. It has extensive anti-fraud protection systems which normally all banks have the same but not that level that HSBC offers.

HSBC credit cards holders are offered as much as 8% off on all holidays booking with Thomas Cook Holidays therefore it is ideal for those who are travel savvy for their holidays and vacations.

HSBC credit cards are introductory accounts and suit for those who are looking for first credit card to build their credit history. This cards has very low purchase introductory period and after that period the interest rates increase substantially to 16.9% p.a. This is not good rate for regular shopping and repayments as compare to other credit cards on the market place.

It has one downside that HSBC credit cards have no reward program as of yet; that is not much exciting!

In the nut shell, HSBC credit cards are introductory accounts and they are suitable for debit control and for cash advances but it may not be much suitable for regular shopping and repayment in minimum amounts.

by: Simon Clifton

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