The bottom line: It's a good pick if you're financing a large purchase or looking to transfer a high-interest balance. It can also save you money on fees in general. You can find similar features in several other cards, but what helps set this card apart is its forgiving policy on late payments. There are limits to those terms, however, and anyone who's hoping to earn rewards will want to look elsewhere. Sign-up bonus: None. Rewards: None. Foreign transaction fee: None.
Other benefits: Mas tercard benefits such as travel accident insurance and an auto rental collision waiver. The card also doesn't charge a penalty APR. Still, make it a habit to pay your bills on time because your credit scores can take a hit if you're 30 days behind. You'll also pay no annual fee, no foreign transaction fee, nor any fee to add an authorized user.
That's not bad, but the U. Then, after the first year or hitting the limit, you get 1X point for every dollar spent. You can exchange points for a variety of merchandise or gift cards, or you can simply redeem them as cash back. Cardholders can transfer points to participating airline loyalty programs, which adds a bit of flexibility. The card provides complimentary membership to the LoungeKey network of lounges, although you only get two free visits per year.
Cardholders also get statement credits for air travel, TSA PreCheck , and select rideshare purchases. If free airport lounge access is high on your list of priorities, the Premier World Elite might not make the cut.
But it also means that HSBC cards generally include a host of network-provided features that you might find useful. HSBC credit cards include chip-and-PIN capability, which may increase their appeal for frequent international travelers. However, if you prefer to go the extra mile to protect your personal information, consider setting fraud alerts on your credit reports or simply freezing them.
All told, HSBC serves more than 39 million customers , and its network spans 66 countries and territories. A seasoned Scottish businessman, Sutherland was working for the Peninsular and Oriental Steam Navigation Company in the s when he noticed there was often something missing in communities throughout Hong Kong and the China coast: strong local banking facilities. The man, the myth, the legend: Thomas Sutherland.
Image credit: HSBC. Its second location opened the next month in Shanghai. The bank was officially incorporated in HSBC began opening branches soon after its establishment, stimulating rapid success. The arrival of the 20th century brought about a host of serious changes for HSBC. The bank began diversifying the services it provided in its home region, servicing numerous loans for national governments China in particular that often helped spur the development of modern infrastructural projects, such as railways.
The First World War shook things up for a time, but in the wake of the action, a massive increase in the trade of rubber and tin helped the bank continue along its path to the top.
In fact, this boom soon led to the construction of new branches in Bangkok, Manila, and Shanghai throughout the early s, a streak which culminated in the construction of a brand-new HSBC headquarters in Hong Kong. A recession hit the area in the s, and with it came political turmoil.
When it became clear that things had to change, HSBC took quick action through a number of acquisitions. Throughout this period, HSBC experienced consistent growth by acquiring other banks or forming strong business subsidiaries. The key to success? Keep in mind, you should always make sure you can afford to repay anything you spend on a credit card. To use your credit card without having to pay interest on purchases, pay off your balance in full every month.
This can also help you avoid building up debt. If you can't do this, it still makes sense to pay more than the minimum in order to reduce the amount of interest you'll pay. If it helps, you can stagger your repayments through the month so that you chip away at the debt. This can lead to late payment fees and damage your credit rating. The easiest way to make sure your credit card repayments are always made on time is to set up a Direct Debit.
You should be comfortable with the amount you spend on your credit card. To make sure this is the case, your credit limit should be set at the right level for you. If you need a little extra flexibility, and you know you can afford it, you can always ask your lender to increase your limit. On the other hand, if you're worried about being tempted to overspend, you can ask for it to be reduced. For example, you may be able to get a refund if a company goes bust before delivering your goods.
Many credit cards offer rewards such as cashback, air miles or points that can be redeemed in stores or online.
There are lots of different offers available, so you can shop around and check credit card details to find the offer that appeals to you.
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