Summary box

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

APR Representative APR 29.9% variable
Interest rates Introductory rate (per annum) Monthly rate Annual rate
Purchases N/A 2.204% 29.9%
Cash Advances N/A 2.204% 29.9%
Balance Transfers N/A 2.204% 29.9%

Interest free period

Up to 56 days for purchases when you pay your balance in full every month by the due date.

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 follows.

From Until
Purchases, balance transfer, cash advances and cash related payments Date debited to your account Paid in full

Allocation of payments

If the amount you pay in a month is less than the full amount you owe, we will apply the amount you pay in the following order:

  • any unpaid arrears or amounts over the credit limit;
  • the amount you owe us and shown in your statement;
  • any transactions, interest or charges not yet included in a statement.

We will apply your payment first to amounts on your account which we charge at the highest interest rate followed by amounts we charged at lower interest rates. In each case, interest and charges are paid off first. If some amounts are charged at the same interest rate, we will apply your payment to the oldest amounts first.

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

Minimum monthly repayment

If you entered into your agreement with us before 23 March 2011 the minimum payment will be the higher of: A. 2.5% of the full amount you owe as shown on your monthly statement (including interest and charges)
B. £5
If you entered into your agreement with us from 23 March 2011 onwards, the minimum payment will be the higher of: A. The sum of (a) interest for the period from the last statement, (b) any default charges, and (c) 1% of the full amount you owe as shown on your monthly statement (not including interest and charges)
B. 2.5% of the full amount you owe us as shown on your monthly statement (including interest and charges)
C. £5

Credit limit

Minimum credit limit £250
Maximum credit limit Subject to status

Fees

No annual fees

Charges

Cash Fee 2.99% of the cash advance or cash related payment, minimum £3
Balance Transfers 2.9% of each balance transferred, minimum £5

Foreign Usage

Payment Scheme Exchange Rate. To find out more, visit the Visa Rates website
Dependent upon the type of transaction you undertake, one or more of the following will apply
Non-Sterling Transaction fee 2.99% of the Sterling amount of the transaction
Cash Fee 2.99% of the amount advanced, minimum £3.00

Default charges

For paying late £12
For going over your credit limit £12
For payments which are returned unpaid £5
For enforcing repayment, including legal and tracing costs Our reasonable costs

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

Illustrative Example
(includes introductory rates)
For a purchase of £1,000 on your HSBC Bank 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? £257.92 £225.16 £158.93
How much interest will you be charged in the second year? £292.13 £148.78 £3.39
How long would it take to clear the balance? 30 years, 0 months 2 years, 4 months 1 year, 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 29.9% 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.