HSBC Credit Card Application: Quick Guide for First-Timers

Venus Zoleta
·6 min read
HSBC Credit Card Application Guide | Moneymax
HSBC Credit Card Application Guide | Moneymax

HSBC is one of the largest banks in the world and one of the leading credit card providers in the Philippines. The bank issues five types of credit cards that cater to different lifestyles and needs. With an attractive reward program, a 0% installment plan, and other exclusive deals, who would not want an HSBC credit card? If you already have an HSBC card in mind, here are the four steps to keep in mind for your HSBC credit card application.

Steps to HSBC Credit Card Application Philippines

1. Check if You’re Qualified for an HSBC Credit Card

Make sure that you’re eligible to apply for an HSBC credit card—this is the first and most important step in the entire application process.

You can apply for one of HSBC credit cards if you meet all these requirements:

  • Between 18 and 70 years old

  • Have a gross annual income of at least PHP 200,000 (for Red Mastercard and Gold Visa Cash Back) or PHP 500,000 (for Platinum Visa)

  • An HSBC Advance[1] bank account (for HSBC Advance Visa) or an HSBC Premier[2] bank account (for HSBC Premier Mastercard)

  • Primary cardholder of a credit card that’s issued by a bank in the Philippines and in good standing for at least 12 months (for Red Mastercard, Gold Visa Cash Back, and Platinum Visa)

2. Prepare All HSBC Credit Card Requirements

hsbc credit card requirements
hsbc credit card requirements

HSBC will process your credit card application only when it has received all the required documents. Since some documents take a while to obtain, especially the government-issued ones, it’s best to prepare them first before you proceed with applying for an HSBC credit card.

HSBC Credit Card Requirements:

Proof of identity:

  • Any of the following: passport, postal ID, driver’s license, or NBI clearance;

  • Any two of the following: SSS ID, PRC license, TIN ID, voter’s ID, birth certificate, police clearance, or company ID (SEC-registered companies only)

  • For foreigners: Visa, Alien Certificate of Registration, or Immigration Certificate of Residence

Proof of income:

  • Employed applicants: Latest Income Tax Return/ITR, BIR Form 2316, or three months’ payslips

  • Self-employed applicants and entrepreneurs: Latest ITR, photocopy of business registration with photo, and financial statement for the last three months

  • Overseas Filipino workers (OFWs): certificate of employment or contract of employment and working visa, work permit, POEA-issued OFW card, or POEA certificate

Proof of residence: Latest utility billing statements named under the applicant, addressed to the applicant’s residence, and issued within the last three months

Read more about first-time credit card application:

3. Decide Which HSBC Credit Card to Apply For

Before your actual HSBC credit card application, you need to know the most suitable HSBC credit card for you. Examine your options carefully by comparing the various important credit card features:

  • Annual fee: Whether you can afford the cost or not.

  • Rewards: The kind of rewards offered should be for categories you frequently spend on (e.g., travel, shopping, dining, etc.)

Here are the three HSBC credit cards you can apply for even without an HSBC Advance or HSBC Premier bank account.

HSBC Red Mastercard

hsbc red mastercard
hsbc red mastercard

📌 Features and Benefits:

  • Earn 1 bonus point for every PHP 20 spend

  • Get 4x bonus points on online, shopping, dining, and overseas transactions

  • Enjoy 6% rebate on your first Caltex fuel purchase plus 3% fuel rebates year-round

💸 Fees and Charges:

  • Minimum monthly income requirement: PHP 16,666

  • Annual fee: PHP 1,500

  • Interest rate: 2%

🎁 Exclusive promo: Get PHP 2,500 cash rebate with your new HSBC Red Mastercard upon reaching the minimum accumulated spend requirement of PHP 5,000. Promo runs until July 31, 2021.

HSBC Gold Visa Cash Back

hsbc gold visa cashback
hsbc gold visa cashback

📌 Features and Benefits:

  • Get 5% cash back on dining transactions

  • Get 0.50% cash back on all of your other transactions

  • Enjoy 3% rebate on Caltex fuel purchases

💸 Fees and Charges:

  • Minimum monthly income requirement: PHP 16,666

  • Annual fee: PHP 2,500

  • Interest rate: 2%

🎁 Exclusive promo: Get PHP 2,500 cash rebate with your new HSBC Gold Visa Cash Back upon reaching the minimum accumulated spend requirement of PHP 5,000. Promo runs until July 31, 2021.

HSBC Platinum Visa

hsbc platinum visa
hsbc platinum visa

📌 Features and Benefits:

  • Get 4 points for every PHP 20 you spend overseas

  • Get 3 bonus points for every PHP 20 you spend on local dining and shopping establishments

  • Comes with travel accident insurance and travel inconvenience coverage

💸 Fees and Charges:

  • Minimum monthly income requirement: PHP 41,666

  • Annual fee: PHP 5,000

  • Interest rate: 2%

🎁 Exclusive promo: Get PHP 5,000 cash rebate with your new HSBC Platinum Visa upon reaching the minimum accumulated spend requirement of PHP 10,000. Promo runs until July 31, 2021.

4. File Your HSBC Credit Card Application

An HSBC credit card application can be done either in-branch or online. You can visit any of the bank’s branches in Metro Manila, Cebu, and Davao and submit your supporting documents there.

HSBC Credit Card Online Application

However, it is recommended that you apply for an HSBC credit card online. You may go to the HSBC Credit Cards page[3] on the bank’s official website and click the ‘Apply Now’ button under your chosen HSBC credit card. You can also do it for free on the Moneymax website!

Completing the online application form takes about 10 minutes. To make the process quicker, get ready with your valid ID number and credit card number from another bank.

You’ll receive an email requesting for submitting your supporting documents. Use the HSBC Online File Upload Service to upload documents for your HSBC credit card application online. It accepts images not more than 2MB in PDF, JPEG, TIFF, and GIF formats.

Read more:

What is the HSBC Credit Card Application Processing Time?

HSBC takes around five to 10 working days to process a credit card application after receiving your completed application form and all supporting documents.

Is HSBC Credit Card Visa or Mastercard?

hsbc credit card application visa or mastercard
hsbc credit card application visa or mastercard

HSBC credit cards differ in payment networks. HSBC Gold Cash Back, HSBC Platinum, and HSBC Advance are Visa credit cards. HSBC Red and HSBC Premier, on the other hand, are under Mastercard.

How to Check HSBC Credit Card Application Status

Have you been waiting for your HSBC credit card? Note that the HSBC credit card approval process usually takes 5 to 10 business days upon submission of completed application forms and required documents.

If you wish to check your HSBC credit card application status, you can call HSBC through the following numbers:

  • (02)8858-0000 from Metro Manila

  • +1-800-1-888-8555 domestic toll-free for calls outside Metro Manila through PLDT landlines

You may also email HSBC at hsbc@hsbc.com.ph. Make sure that you have your application reference number with you.

How to Activate HSBC Credit Card

Got your HSBC credit card? Congratulations! Before swiping, make sure that you activate it first. To do so, just text HSBC<space>LAST 4 DIGITS OF YOUR CARD<space>LAST NAME<space>BIRTH MONTH & YEAR in MMMYYYY format (ex. JUN1985) to 0922-1001010 using your registered mobile number with HSBC.

Still want to compare credit cards? You might also want to check these credit card application guides:

Final Thoughts

An HSBC credit card application is a straightforward process, especially if you do the steps properly and submit all the requirements. If you’re looking for a more flexible credit card, you can’t go wrong with HSBC’s extensive selection of capable credit cards.

Compare and apply for a credit card today!
Compare and apply for a credit card today!

Sources:

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