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The world’s third largest bank in terms of assets, the Hongkong and Shanghai Banking Corporation (HSBC) has always been a major player in the Indian banking scene. HSBC’s association with India began way back in 1853, when the erstwhile Mercantile Bank of India threw open its doors for business in Mumbai. Since then, HSBC has grown leaps and bounds in the Indian context and is considered a universal favourite when it comes to personal, commercial or corporate banking. The bank offers a suite of world beating banking products in India, including a superhero team of credit cards- versatile, feature rich, customized for Indian conditions and demands, loaded with perks and immensely customer friendly.
Reasons to Choose HSBC Credit Cards
The average Indian credit card prospect seeks refinement, combined with a solution that isn’t heavy on the wallet, yet offers a whole gamut of features and benefits that will address- a) an unforeseen financial liability, b) lifestyle experiences and purchases, c) 24×7 security in the knowledge that financial assistance is never far away, and importantly, d) e-shopping. HSBC Credit Cards are designed to do all this, plus a ton more. The following reasons summarize the advantages of subscribing to credit cards from HSBC Bank-
Variety- A selection of 5 fully loaded credit cards, targeting different demographics and requirements. HSBC Visa Platinum Card, Premier MasterCard, Advance Visa Platinum Card, MMT Signature Card and MMT Platinum Card comprise the stable of credit card offerings from HSBC.
Fully Loaded Benefits- From reward points to air miles, from cashback to exclusive offers on fine dining and purchases, your HSBC Credit Card is tuned to do what it does, brilliantly!!
Easy & Quick Application Process- Walk into your nearest HSBC branch or jump on the online trail and signup on the HSBC India website. The procedure is simple, fast, and highly responsive.
Robust Customer Support- Backing this line of attractive products in its portfolio, HSBC offers a highly trained customer support initiative. Help is just a phone call, email or chat box away.
Features and Benefits of Credit Cards
Credit cards, apart from being used to pay for products and services can also provide a multitude of other benefits such as AirMiles, discounts on shopping and dining, waiver on fuel surcharge and so on. Additionally, using credit cards can also result in the individual availing reward points which can be redeemed for a host of gifts from the company’s rewards catalogue. Credit cards can also be used abroad and for purchasing products online. Individuals can utilise credit cards to pay their utility bills as well as withdraw money, which is however not advised except in cases of emergencies.
However, despite their numerous advantages if misused, credit cards can cause a serious dent in the individual’s finances. This is because credit cards come with bills that will have to be paid every month during the billing cycle. Unlike debit cards, credit cards work on a credit basis and funds are not being drawn from the individual’s own account. Additionally, credit cardholders should ideally pay the credit card bill in full. If not, they should pay as much as possible when they can instead of splitting the amount. Although cardholders have the option to pay just the minimum amount due, this is not advisable as interest will get charged on any payment that is left to be made. Although quite low initially, these rates can add up to quite a hefty sum which can be detrimental to the cardholder’s finances at a later stage.
Therefore, credit cards are not provided to all those who apply but only those who meet the eligibility criteria which varies from bank to bank. Eligibility criteria for a credit card is dependent on various factors such as age, credit score and income among others. In case applicants meet the required eligibility criteria, they can procure the card of their choice.