Credit Cards

HSBC Classic Credit Card review: build a credit rating

If you think you need a high credit score to have an HSBC credit card, think again. Read this HSBC Classic Credit Card review and meet this great option!

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HSBC Classic Credit Card: Pay £0 annual fee!

HSBC Classic Credit Card
HSBC Classic Credit Card review. Source: Ok Save Money

Are you living in the United Kingdom and need to build a credit history? Look no further. This HSBC Classic Credit Card review is just what you need.

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HSBC Classic Credit Card: how to apply

Looking for a way to apply for the HSBC Classic Credit Card? You’ve just found the perfect application guide. Up to £1,000 credit limit!

With this credit card, you can show all major credit bureaus how good of a credit user you are. So keep reading this review to see how it works.

Credit ScoreApplicants can have a low credit score;
Annual FeePay a total of £0 in annual fees for this card;
Purchase APRThe purchase APR is 29.9% p.a. (variable);
Cash Advance APRFor cash advances, you must pay 35.9% p.a. (variable);
Welcome BonusAs a basic credit card, it has no kind of bonus for new cardholders;
RewardsThis is not a rewards credit card, but you can get offers for discounts with HSBC partners.

HSBC Classic Credit Card overview

Building credit can be tricky. But HSBC is willing to help you do it with the HSBC Classic Credit Card. This is a great way to start – or restart.

Like most cards for people with low credits, this card doesn’t have great features, except for occasional offers and discounts from HSBC partners.

However, you’ll have the support of one of the bigger banks in the world, online banking, mobile app, and customer support online and in branches.

Also, the initial credit limit can be as high as £1,000. But this will depend on the bank’s analysis of your financial profile.

Even though you don’t need a high credit score, you need an HSBC bank account (except for the Basic Bank Account).

HSBC Classic Credit Card main features

Smiling happy cheerful young woman using mobile phone holding credit card posing isolated over white wall background
HSBC Classic Credit Card main features. Source: Adobe Stock

Indeed, don’t expect too much of an entry credit card. You’ll build up to the rewards and travel credit cards by building an excellent score.

So let’s review the HSBC Classic Credit Card pros and cons to see if it’s worth it opening a bank account to get it:

Pros 

  • Suitable for people with poor credit scores;
  • Have peace of mind using this card knowing you have Purchase Protection;
  • HSBC has an offers program for all of their customers, and you’ll get to enjoy it;
  • Take advantage of technology with online banking, contactless pay, digital wallets, and mobile app.

Cons

  • The APR can be high and cost you a lot of money if you don’t pay attention to your payments;
  • You must be an HSBC customer to get this credit card.

Minimum credit score to apply

This information is unclear, as HSBC does not specify a minimum score for new applicants. But do specify a minimum annual income of £6,800.

Another requirement is an active HSBC account, so this credit card is available for those who already bank with HSBC.

How to apply for the HSBC Classic Credit Card?

Now that you know all this card has to offer and the eligibility requirements, you can check how the application process works.

You’ll find this information on the following link, so keep reading if you want to own this HSBC Classic Credit Card.

HSBC logo

HSBC Classic Credit Card: how to apply

Looking for a way to apply for the HSBC Classic Credit Card? You’ve just found the perfect application guide. Up to £1,000 credit limit!

About the author  /  Julia Bermudez

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