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HSBC Advance Credit Card

HSBC Advance Credit Card

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Best for Cashback and International Rewards

HSBC Advance Credit Card

1.5% - 3.5%

Cash Back

Up to SGD200 cashback

Sign-up Gift

S$ 0

Min Spent

The HSBC Advance Credit Card helps customers earn cashback on retail purchases made both locally and overseas. HSBC Advance Credit Card holders also get a first year annual fee waiver, international spending perks and some very useful MRT public transport benefits. But to get maximum cashback on this credit card, you’ll need to sign up for a HSBC Advance Banking account or HSBC Everyday Global Account – and hit a $2,000 minimum spend.

HSBC Advance Credit Card Rewards

  • Earn high cashback rates on eligible purchases locally and internationally
  • Enjoy having your annual fee waived for the first year
  • Regular HSBC Advance Banking Credit Card customers can earn cashback of up to 2.5%
  • Those who open a HSBC Advance Banking Account can boost this maximum cashback rate to 3.5%
  • HSBC Everyday Global Account holders can enjoy an additional cashback rate of 1% with this card
  • Use your credit card as an EZ-Link card via SimplyGo to avoid top ups on MRT and public transport

The HSBC Advance Credit Card offers cardholders unhindered access to more than 1,000 special offers on dining, hotels, leisure attractions and wellness spas. Advance Credit Card HSBC customers can enjoy 1-for-1 discounts and much more.

 

The Advance Credit Card HSBC is compatible with mobile wallets like Apple Pay, meaning you can keep track of online transactions with ease. You also get up to $200 loss coverage for global online purchases and tons of deals on online food and grocery deliveries.

HSBC Advance Banking card membership is a great fit for international spenders looking for a new cashback credit card. You’ll get retail and dining discounts with global conglomerates, complimentary upgrades at selected hotels and more, all with your HSBC Advance Card. However, there is a 1.80% charge on foreign currency transactions.

Pros

  • All customers get a base cashback rate of 1.5 – 2.5% on a range of eligible purchases, from dining to retail
  • You won’t have to pay HSBC Advance Card’s annual fee in your first year
  • High spenders who exceed a minimum spend or monthly spend of $2,000 can enjoy amazing benefits
  • HSBC Advance Banking customers and HSBC Everyday Global Account holders can rise above the base cashback cap and earn maximum cashback rates

Cons 

  • Those higher cashback rates of 3.5% are reserved for HSBC Advance Banking Customers only
  • HSBC imposes a maximum cashback cap per month of $70 for most customers
  • Self employed individuals, singles and anyone with a monthly spend of less than $2,000 might not access any more than HSBC Advance Card’s basic 1.5% cashback rate

How to Apply

21 years old and above

Singapore and Permanent Residents
Salaried employee: S
$30,000
Self employed or commission-based : S$40,000

Foreigners
S$40,000

Annual FeeS$192.60 
Fee waiverWaive for First Year 
Annual Interest Rate25.9% p.a.
Late Payment FeeS$55
Cash Advance Fee $15 or 6%, whichever is highest
Minimum Monthly Spend / Monthly Payment:$50 or 3%, whichever is highest
Foreign Currency Transaction Fee1.8%

You will need to provide supporting documents as proof of income. In most cases, HSBC will grant you a credit limit for all unsecured facilities capped at four times your monthly income.

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How Does the HSBC Advance Credit Card Compare with Other Credit Cards in Singapore?  

Check out how the HSBC Advance Card compares to other top Singaporean credit cards using the table below. We’ve compared it to competitors using helpful specific categories, such as above income requirements, minimum spend limits, cashback cap and rate restrictions and more.

 

Minimum Income

Interest

Cash Back

Min Spend

Rewards

HSBC Advance Credit Card

$30,000 (Singaporean)

$40,000

(Foreigner)

25.90%

1.5% to 2.5% for regular customers

3.5% rate available to HSBC Advance Banking customers only

$2,000 per calendar month to secure 2.5% cashback rate

Monthly spend below $2,000 will attract base 1.5% reward rate only

1.5% to 2.5% cashback on local and international purchases

Earn an extra 1% cashback when you deposit fresh funds to your HSBC Everyday Global Account each month ($2,000 minimum)

DBS Takashimaya Visa / American Express Card

$30,000 (Singaporean)

$45,000 (Foreigner)

26.80% p.a.

$30 worth of Takashimaya gift vouchers with every 100 Takashimaya bonus points

Even more perks available to Takashimaya Amex card members

$300

Up to 300 Takashimaya bonus points per transaction for DBS Takashimaya Amex card holders

Redeemable Takashimaya gift vouchers and rebates for all DBS customers

Citi Cash Back+ Mastercard

$30,000 (Singaporean)

$42,000 (Foreigner)

26.90% p.a.

1.6%

Unlimited cap

N/A

Redeem cash back instantly

Cash rebate via SMS or Pay with Points

American Express True Cashback Card

$30,000 (Singaporean)

$60,000 (Foreigner)

26.90% p.a.

Up to 3.0%

Unlimited cap

N/A

Additional 1% cashback on foreign currency spend

No min spend or cap

POSB Everyday Card

$30,000 (Singaporean)

$45,000 (Foreigner)

26.80% p.a.

0.3% for all purchases

N/A

Use SimplyGo as an MRT card to eliminate auto top up requirements

Link to your current account and/or debit card for more perks

DBS Live Fresh Card

$30,000 (Singaporean)

$60,000 (Foreigner)

26.80%

Up to 5% available both online and via contactless in store payments

$600 min spend per month

1 year initial fee waiver

0.3% earned on all other kinds of spending

HSBC Advance Credit Card – Our Verdict 

As you can see from the table above, the Credit Card HSBC Advance offers a below average annual interest rate and tons of amazing cashback perks for customers with a high annual spend – especially those who travel and make regular eligible purchases overseas. 

That said, the annual fee exemption applies to the first year only – it cannot be perpetually waived. In addition, only customers holding certain HSBC bank accounts will get access to the best cashback rewards, so be sure to keep this in mind when considering whether this is the right card for you.

FAQs

Under the terms of this cashback card, customers will only ever be awarded cashback on eligible purchases and online transactions. You can explore the full terms and conditions regarding the HSBC Advance Card and what constitutes one qualifying transaction on the HSBC website here.

Credit limits awarded with HSBC bank accounts and credit card products will be decided on a case-by-case basis. Customers are free to request a preferred limit when opening an account or applying for a HSBC Advance Card, but the bank may grant a lower amount depending on your credit score and other factors. The standard limit for those earning between $30,000 and $120,000 is four times your monthly income. Discover more here.

Final Thoughts

So, a HSBC Advance Card can earn you amazing cashback benefits on local and international spending – and customers with certain HSBC bank accounts can earn even more. But if you’re considering signing up for a HSBC Advance Card today, it’s important to think very carefully about whether this card is 100% right for you before you commit. Here are a few things to keep in mind:

  • Not everyone will get the maximum cashback rates

Those generous 3.5% higher cashback rates are for HSBC Advance Banking Customers only – meaning you might need to open an account before you can best benefit from the earn rewards potential of this card.

  • There’s a minimum spend required

HSBC requires customers to pay out at least $2,000 per month to get the best rates, too – which means this card might not be so well suited to low spenders or self employed individuals, unless you’re happy earning just 1.5% while making recurring bill payments, balance transfers and other typical transactions.

  • Annual fees and charges apply

Sure, you’ll get your first year’s HSBC Advance Credit Card fee waived, but you’ll need to take into account any processing fee, late payment fee and other tax payments and charges associated with this card – and make sure they work for you.

For more details on and reviews of the best credit cards in Singapore, check out Loan Advisor’s blog page. If you’re looking to compare credit cards or hunt for personal loans, home loans, travel insurance and other amazing financial products, Loan Advisor is here to help. 

Our loan comparison service can help you find and compare the best deals in Singapore just by sharing some basic personal information and outlining your requirements.

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