HSBC Advance Credit Card

HSBC Advance Credit Card

HSBC Advance Credit Card

HSBC Advance Credit Card

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Earn up to 2.5% Cashback | Instant Activation*
HSBC Advance Credit Card is a cash back credit card with 2 tiers of Cashback – base 1.5%, 2.5% with S$2,000 spend. Benefits include annual fee waiver, online shopping and dining offers, and welcome gifts. Minimum salary requirement is S$30,000.
1.5%
Base Cashback
2.5%
Cashback when you spend more than S$2,000
S$70
Cashback Cap per month
Online Promo
Choose between a Samsonite ZELTUS 69cm Spinner Exp with built-in scale (worth S$680) or get S$200 cashback when you spend at least S$500 and provide marketing consent in the application form. Apply now for instant approval. T&Cs apply.
Valid until 31 Dec 2024 - See more details below

Are you eligible?

    • Spend S$500 in Qualifying Spend from card account opening date to end of the following calendar month.
    • Provide HSBC your consent to receive marketing and promotional materials from HSBC

What you need to know

  1. New Cardholders can get Samsonite ZELTUS Spinner Luggage (worth $680) or S$200 cashback when you meet the spend criteria
  2. Existing Cardholder can get S$50 cashback when you meet the spend criteria
T&Cs

Quick Facts

Get the maximum value by

earning up to 2.5% cashback if you regularly spend more than S$2,000 per month

Good for

Homeowners and individuals with consistent expenditure between S$2,000 and S$2,800 per month

Categories to maximise this card

Every spend such as online, retail, and dining transactions

What people use it for

As an everyday card for daily transactions

Get if

You spend consistently, appreciate fuss-free automated cashback into your account, and enjoy lots of retail and dining deals and promotions

All Details

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HSBC Advance Credit Card Benefits 2024

The HSBC Advance Credit Card stands out for its annual cashback potential of up to SGD4,000, and it is just one of HSBC's array of cashback credit cards. It extends cashback incentives across diverse spending categories, including dining, groceries, and recurring bills. Besides that, it offers supplementary advantages tailored for HSBC Advance banking clientele.

If you’re contemplating on getting the HSBC Advance Credit Card, let's delve into its prerequisites, advantages, drawbacks, and more, before you make a decision.

Pros & Cons Of HSBC Advance Credit Card

Pros

  • Interest rate of 26.90%, which is lower than some cashback credit cards (as per MoneySmart's Credit Cards comparison tool
  • 3 tiers to unlock up to 3.5% cashback on all local and overseas spend (range from 1.5% to 3.5% depending on spending category, minimum spend amount and if you’re a HSBC Everyday+ Customer.
  • Annual fee waiver available (for first year only)
  • Access to 1-for- dining, lifestyle and travel promotions via HSBC ENTERTAINER
  • Discounts including 16% off Agoda bookings, 8% off Hotels.com bookings, 9% off Expedia hotel bookings, and more
  • Complimentary travel insurance coverage against flight inconvenience and personal accident of up to S$1 million

Cons

  • The base cashback is capped at S$70 per month
  • Charges annual fee after the first year, unlike other cashback credit cards like CIMB Visa Signature Card and Standard Chartered Smart Credit Card which offer the benefit of no annual fee charges for life
  • Lacks cashback benefits for expenditure on petrol unlike other cards like Citi Cash Back Card and OCBC 365 Credit Card

Find Out More About The HSBC Advance Credit Card In Our Blog Review!

Read Card Review

Compare HSBC Advance Card vs. SCB Simply Cash Credit Card vs. Citi Cash Back + Card

At the moment, the HSBC Advance Card offers the lowest minimum interest rate chargeable as compared to the Citi Cash Back + Card and Standard Chartered Simply Cash Card.

In terms of annual fee, all of the three cards charge the same rate. However, when it comes to cashback benefits, the HSBC Advance Card provides the best variety and better cashback rates than the other two cards, with its maximum tier offering 2 times more the cashback value than the Citi Cash Back + Card and Standard Chartered Simply Cash Card.

There's even a perpetual annual fee waiver for HSBC Advance Card holders who are also HSBC Everyday+ customers. Considering these factors, the HSBC Advance Card could be apt for you as long as you can hit a minimum of $2,000 in your spending every month and if you’re after its cashback benefits and discounts for spending on travel and lifestyle categories.

HSBC Advance Card

Interest rate: From 26.90%

Annual fee:$196.20 for Year 1 (first year waiver available)

Minimum annual income:

  • $30,000-$40,000 for Singaporeans and PRs
  • $40,000 for foreigners

    • Cashback benefits:
  • Up to 3.5% cashback on all local and overseas spend and perpetual annual fee waiver when you’re a HSBC Everyday+ Customer
  • Up to 2.5% cashback on all local and overseas spend when you spend more than S$2,000 per calendar month
  • Base cashback of 1.5% on all purchases when you spend below S$2,000 per calendar month
  • Exclusive access to HSBC ENTERTAINER with HSBC Singapore mobile app, enjoy over 1,000 worldwide 1-for-1 deals on dining, lifestyle and travel
  • Great overseas spending perks such as worldwide retail and dining discounts including 16% off Agoda bookings, 8% off Hotels.com bookings, 9% off Expedia hotel bookings, and more
  • Complimentary travel insurance coverage against flight inconvenience and personal accident of up to S$1 million

    • Citi Cash Back + Card

    Interest rate: From 27.90%

    Annual fee:$196.20 for Year 1 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $42,000 for foreigners

    • Cashback benefits:
  • 1.6% cash back on eligible spend all year round
  • No minimum spend required and no cap on cash back earned
  • No expiry for cash back earned
  • Back on eligible spend (only valid for Citi Plus customers who are Primary Account Holders of a Citi Interest Booster Account
  • Up to S$1 million coverage for purchases of travel tickets

    • SCB Simply Cash Card

    Interest rate: From 27.90%

    Annual fee:$196.20 for Year 1 (first year waiver available)

    Minimum annual income:

  • $30,000 for Singaporeans and PRs
  • $60,000 for foreigners

    • Cashback benefits:
  • 1.5% cashback on all eligible purchases
  • S$588 cashback within 30 days of card approval
  • $80 cashback referral reward
  • No minimum spend requirement
  • Up to 23.7% fuel savings at Caltex

    • Find Out How To Maximise Your Cashback Credit Card

    Check It Here

    HSBC Advance Credit Card Application

    Here are 3 simple steps to apply for the HSBC Advance Credit Card

    Step 1

    Apply via MoneySmart’s credit cards page

    You may begin your application by clicking on our HSBC Advance Credit Card application link. When you choose to apply online or through the HSBC mobile app and via SingPass MyInfo, HSBC will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

    Step 2

    Provide all documentation required

    You’ll need to provide all the necessary documentation in order for HSBC to approve your credit card application. This list of documents include:

    • NRIC or other identification details Latest computerised payslip
    • Latest 12 months’ CPF Contribution History Statement
    • Latest Income Tax Notice of Assessment (NOA)

    Step 3

    Receive your HSBC Advance Credit Card

    You’ll be able to activate your HSBC Advance Card instantly through the HSBC mobile app, and enter a One-Time Password (OTP) after keying in your 6-digit Online Banking PIN to secure all your credit card transactions. Thereafter, it’s ready for you to use on any of your purchases and you can track your cashback and other rewards with your HSBC mobile app!

    Frequently Asked Questions About HSBC Advance Credit Card

    Are there any fees if I apply for the HSBC Advance Credit Card?

    HSBC Advance credit card charges an initial annual fee of $196.20 (with waiver available for the first year), and other fees like supplementary card annual fee, late payment fee, minimum monthly payment, foreign currency transaction fee, cash advance transaction fee, overlimit fee.

    Am I eligible for the HSBC Advance Credit Card?

    If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the HSBC Advance Credit Card, as long as you’re aged 21 and above, and earn a minimum annual income of $30,000-$40,000 (for Singaporeans and PRs) or $40,000 (for foreigners).