HSBC Premier Credit Card

 

The information contained in this table summarises key product features and is not intended to replace any Agreement Terms

APR Representative 11.9% APR variable
Interest rates   Introductory rate * Monthly rate Annual rate
Purchases 0% for 9 months 0.945% 11.9%
Cash Advances N/A 0.945% 11.9%
Balance Transfers N/A 0.945% 11.9%

*For new HSBC Bank credit card customers only.

 

Interest free period

Up to 56 days on Purchases if you pay your whole balance in full and on time.
 

Interest charging information

You will not pay interest on purchases if you pay your balance in full and on time each month. Otherwise, the period over which interest is charged will be as detailed in the table below. For Cash Advances and Balance Transfers any interest charge for the period from the previous statement to the date of full repayment will be debited the following month. Interest will not be charged on Default charges.

 

From

Until

Purchases

Date debited to your account

Paid in full

Cash Advances

Date debited to your account

Paid in full

Balance Transfers

Date debited to your account

Paid in full



 

Allocation of payments

Your payment is allocated in the following order:

  • Cash Advances
  • Purchases
  • Standard rate Balance Transfers
  • Promotional rate Purchases and Balance Transfers

For further details, please refer to your Credit Card Terms and Conditions.
 

Minimum repayment

Interest, default charges and any payment protection insurance premium plus 1% of the principal, or 2.5% of the balance or £5 whichever is highest, or your statement balance if less than £5.
 

Credit limit
 
 
 

Minimum credit limit

£500

Maximum credit limit

Subject to status


 

Fees

No annual fees
 

Charges

Cash Fee
(includes cash withdrawals, purchases of foreign currency and travellers cheques, but does not apply to gambling transactions)

2.99% handling fee, minimum £3

Balance Transfers

2.9% of each amount transferred, minimum £5


 

Foreign Usage

Payment Scheme Exchange Rate

To find out more, visit the Visa Rates website

Exchange Rate Adjustment

2.99% added to the Visa Exchange Rate

Non-Sterling Cash Fee

2.99% of the amount advanced, minimum £3.00


 

Default fee

Late payment

£12

Over credit limit

£12

Return payment

£5

Repayments

Illustrative Example
(includes introductory rates)		 For a purchase of £1,000 on your HSBC Premier Credit Card
Monthly Payment 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? £22.69 £15.14 £1.91
How much interest will you be charged in the second year? £80.03 £21.32 £0.00
How long would it take to clear the balance? 12 years, 4 months 1 year, 9 months 11 months
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 typical 11.9%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.

Recurring transaction

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.