The information contained in this table summarises key product features and is not intended to replace any Agreement Terms
(includes introductory rates)
|For a purchase of £1,000 on your HSBC Bank Credit Card
||Minimum payment each month
||£50 payment each month
||£100 payment each month
|Taking into account introductory rates, how much interest will you be charged in the first year?
|How much interest will you be charged in the second year?
|How long would it take to clear the balance?
||17 years, 8 months
||2 years, 1 month
|The above example assumes the following: the transaction takes place on 1st January and you make no further transactions; you always make the payment on the 15th; your statement is produced 31 days after you make the purchase; interest is calculated based on the representative
18.9% APR variable rate, and introductory rates are included.
We recommend that you pay more than the minimum payment whenever possible.
If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance, as shown in the example above.
A recurring transaction, sometimes called a continuous payment authority, is a series of payments collected with your agreement from your card by a retailer or supplier (for example, breakdown cover). This is an agreement between you and the retailer. The Direct Debit Guarantee does not cover these transactions.