HSBC credit card instalment plans on Apple Pay

No - as all instalment plan offers are subject to eligibility. If you're eligible, you'll see the offers when checking out with a retailer using Apple Pay.

No – we’ll work out your minimum monthly payment in the usual way, but we’ll also show the monthly instalment and the fee for your plan on your statement.

You don’t have to pay the monthly instalment and fee by the due date on your statement (as long as you make at least your minimum payment), but your plan will be cancelled if you don’t for 2 months in a row.

Yes – if you choose an instalment plan when you're shopping online, we'll automatically collect your instalment plan payments with your usual Direct Debit.

If you usually make your minimum payment by Direct Debit, this means we’ll collect your monthly instalment and fee at the same time. We call this the ‘minimum plus instalment plan payment’, and you’ll see it on your monthly statement.

If your Direct Debit is for a fixed amount, this means we'll collect your minimum plus instalment plan payment if it’s higher than the fixed amount.

If you usually pay your full balance each month, we’ll collect your monthly instalment and fee – but not the rest of the amount you owe on the plan. That’s so you can repay the plan over the time we’ve agreed.

You’ll always be able to see how much we’ll collect, and when, on your monthly statement.

If you have a Direct Debit set up for your minimum or a fixed payment and don't want us to also collect your instalment plan payments, you can opt out. To do this, send us a message using the Chat function in the app or Online Banking. You can also use the Chat function to opt back in at any time. Please note that, if you have more than one instalment plan, your choice will apply to all of your instalment plan payments

Yes – you can cancel the plan at any time and for any reason. Just tell us by sending a Chat message in the app or online banking.

After the plan is cancelled, the amount you still owe on the plan will move back to your main transaction balance. That means we’ll stop charging instalment plan fees and go back to charging interest at your standard purchase rate. If it’s part way through a month, we’ll refund part of the instalment plan fee - so it’s only charged for the time you’ve had the plan.

You can repay your instalment plan early by paying more than your monthly instalment. But if you owe any other amount on your account, the extra will be used to pay that off first.

We’ll only charge instalment plan fees for the time you have the plan.

The refund will repay your transaction balance (if any) first. This means your instalment plan will only be affected if the refund is more than your transaction balance, or the plan is the only balance on your account. In that case, the refund will reduce or repay the plan.

You don’t have to pay the monthly instalment and fee by the due date on your statement, as long as you make at least your minimum payment. This could help you avoid a late payment fee or impact to your credit file.

If you don’t make your instalment plan payment one month, that amount will move back to your main transaction balance. That means interest will be charged at the standard rate. The next month, you’ll need to pay the amount you’ve missed plus that month’s instalment and fee to keep the plan on your account – otherwise we’ll cancel it. If we cancel your plan, HSBC will charge interest on the outstanding transaction amount at your standard purchase rate, which could cost you more.

When you make a payment, we’ll apply it in this order:

This means your payment could go towards your instalment plan before other amounts on which we’re charging you interest. So if you’ve used your card to take out cash for example, you’ll repay your cash balance less quickly and it’ll cost more.

Your available credit determines the maximum amount. So, if you had £1,000 of your credit limit available and made a purchase for up to that amount, then you could set up an instalment plan to repay the purchase amount. But remember, only borrow what fits within your budget, and avoid spending near your card’s limit.

Visit our budgeting page for guides and tools on how to manage your everyday spending.