The HSBC credit card collection in Malaysia has a wide range of options, it can benefit from cashback, travel and the redemption system. No matter you’re a regular traveller, a frequent shopper, or simply searching for everyday rewards, the HSBC credit card lineup delivers customised benefits and special incentives to fit your lifestyle needs. This article will guide you to choose the HSBC credit card that suits you the most.
Table of Contents
Best HSBC Credit Cards Annual Fee Comparison
| HSBC Credit Card | Min. annual income required | Annual fee of principal card | Annual fee of Supplementary card |
| Platinum Credit Card | RM36,000 | RM240 | RM120 |
| Amanah MPower Platinum Credit Card-1 | RM36,000 | RM240 | RM120 |
| Advance Visa Platinum | RM36,000 | Waived | Waived |
| Premier Travel Credit Card | RM36,000 | RM600 | Waived |
| TravelOne Credit Card | RM60,000 | RM300 | RM150 |
| Visa Signature Credit Card | RM72,000 | RM600 | RM300 |
Top HSBC Credit Cards in 2023
1. Platinum Credit Card
Features & Benefits
- Earn 8X Reward Points (RP) on contactless transactions for every RM1.
- Earn 5X RP on global transactions, groceries and online platforms like Shopee, Lazada, and Grab for every RM1.
- 100% recycled plastic for your credit card material.
Eligibility
- RM36,000 is the minimum annual income.
- The principal cardholder must be a minimum of 21 years old.
- The supplementary cardholder must be a minimum of 18 years old.
Fees & Charges
- The annual fee is RM240 for the primary card and RM120 for the supplementary card.
- The annual fee will be waived once you swipe at least 1 time per month and your annual spending reaches RM2,000.
- There is RM25 for sales and services tax on the activation and anniversary dates of each primary and supplementary card.
- The minimum monthly payment is RM50 or 5% of the outstanding amount, depending on what is greater.
- A cost of RM10 or 1% of the outstanding late payment fee, up to a limit of RM100, is levied.
- The cash withdrawal charge is RM15 or 5% of the outstanding amount, whichever is greater.
- Interest rate charges range from 15 to 18% yearly.
2. Amanah MPower Platinum Credit Card-1
Features & Benefits
- Enjoy 8% cashback on E-Wallet top-ups, petrol, and groceries transactions.
- Enjoy 0.2% cashback on other eligible spend.
- Islamic Credit Card.
- 100% recycled plastic for your credit card material.
Eligibility
- RM36,000 is the minimum annual income.
- The principal cardholder must be a minimum of 21 years old.
- The supplementary cardholder must be a minimum of 18 years old.
Fees & Charges
- The annual fee is RM240 for the primary card and RM120 for the supplementary card.
- The annual fee will be waived once you swipe at least 1 time per month and your annual spending reaches RM2,000.
- There is RM25 for sales and services tax on the activation and anniversary dates of each primary and supplementary card.
- The minimum monthly payment is RM50 or 5% of the outstanding amount, depending on what is greater.
- A cost of RM10 or 1% of the outstanding late payment fee, up to a limit of RM100, is levied.
- The cash withdrawal charge is 2% of the outstanding amount.
- Interest rate charges range from 15 to 18% yearly.
Cash Back Rates
| E-Wallet Top-Up, Petrol and Groceries Transactions | Other Eligible Spending | |
| Spend below RM2,000 monthly | 1% | – |
| Spend RM2000 and above monthly | 8% | – |
| Any Amount | – | 0.2% |
| Cash back capped by monthly (RM) | RM15 | Uncapped |
3. TravelOne Credit Card
Features & Benefits
- Earn 8X RP on foreign currency spending.
- Earn 5X RP on local travel and dining spending.
- Earn 1X RP on other eligible spending.
- Enjoy 6X free Plaza Premium Lounge entry worldwide every year.
- Enjoy discounts on Agoda.
- Enjoy $250,000 travel insurance protection for you and your family.
- 100% recycled plastic for your credit card material.
Eligibility
- RM60,000 is the minimum annual income.
- The principal cardholder must be a minimum of 21 years old.
- The supplementary cardholder must be a minimum of 18 years old.
Fees & Charges
- The annual fee is RM300 for the primary card and RM150 for the supplementary card.
- There is RM25 for sales and services tax on the activation and anniversary dates of each primary and supplementary card.
- The minimum monthly payment is RM50 or 5% of the outstanding amount, depending on what is greater.
- A cost of RM10 or 1% of the outstanding late payment fee, up to a limit of RM100, is levied.
- The cash withdrawal charge is RM15 or 5% of the outstanding amount, whichever is greater.
- Interest rate charges range from 15 to 18% yearly.
HSBC Credit Card Promotion and Bonuses
HSBC Credit Card is an ongoing promotion for all of the new users. No matter which card you apply for, you can earn the RM500 eVoucher you choose. You can choose the RM500 eVoucher between Shopee, Grab Ride, Grab Food, Klook, Zalora or Touch n’Go. There is only 1 T&C, which is you must apply for a credit card via HSBC Malaysia Mobile Apps.
Features and benefits of HSBC Credit Cards
HSBC offers a variety of credit cards in Malaysia, providing both conventional and Islamic options. There are different cards that offer different benefits and features to cater to the diverse needs and preferences of customers.
HSBC Card Installment
HSBC offers its cardholders an HSBC Card Instalment Plan, which provides 0% instalment for up to 36 months, available at over 500 retail outlets. Therefore, HSBC users do not need to worry about the retail outlets whether they provide 0% instalments or not.
HSBC Cash Installment Plan
HSBC offers a Cash Instalment Plan to cardholders who are authorised within 6 months, allowing them to convert their credit limits into cash. This plan offers users flexible repayment alternatives, making it easier to manage their finances.
HSBC Balance Transfer Plan
HSBC offers adjustable credit lines as well as a Balance Transfer instalment plan. This plan offers competitive rates and repayment options, allowing users to transfer balances from other credit cards and perhaps pay them off at cheaper interest rates.
HSBC SmartPrivileges
Through the Home & Away Privilege Programme, HSBC gives its members exceptional discounts in over 160 countries, allowing them to use their hsbc credit card to access premium services globally.
HSBC Credit Card Rewards Programme
HSBC credit cards are well-known for their substantial rewards programmes. For example, the HSBC Visa Platinum earns 8x points on daily transactions and 5x points on overseas, grocery, and online purchases. HSBC Visa Signature, on the other hand, gives 5x points at local malls and 8x points for retail overseas and online spending in foreign currency. These points can be used for a variety of HSBC credit card perks.
Travel benefits and insurance coverage
HSBC credit cards have valuable travel benefits, such as Plaza Premium Lounge access, that make travelling more comfortable for cardholders. The HSBC credit card also provides USD250,000 of insurance coverage to keep customers safe while travelling.
Earn cashback on essentials
The HSBC Amanah MPower Platinum Credit Card-i distinguishes itself by providing cashback, with 8% for monthly spending over RM2,000 and 0.2% for other retail purchases, guaranteeing that cardholders get money back on their everyday expenditures.
Strategies to Boost Your HSBC Reward Points
The HSBC reward programme is intended to assist frequent spenders. Once HSBC credit cardholders spend more, they will get many reward points, but you have to know the T&C where you need to earn the points through contactless payments, online shopping, or foreign spending. Once you clearly understand the T&C, you can boost your HSBC Reward Points with the maximum use.
How to Apply for a HSBC Credit Card?
Choosing the right HSBC credit card for your needs is a crucial decision, but once you’ve made that decision, the application procedure is simple. We will walk you through the HSBC credit card application procedure.
Eligibility Criteria: What You Need to Know Before Applying
| Eligibility | |
| Age | The minimum age required is 21 years for primary cardholders and 18 years for secondary cardholders. |
| Residency Status | Everyone |
| Income Requirement for Monthly | Platinum Credit Card – RM3,000
Amanah MPower Platinum Credit Card-1 – RM3,000 Advance Visa Platinum – RM3,000 Premier Travel Credit Card – RM3,000 TravelOne Credit Card – RM5,000 Visa Signature Credit Card – RM6,000 |
Step-by-Step Guide to the Application Process
Prepare the general documents wanted for an HSBC credit card application, such as the ones listed below, to speed up your HSBC credit card application.
| Documents to Apply for Alliance Bank Credit Card | ||
| Salaried Employee | Self-Employed | Foreigner |
| ✅Copy of IC for both slides
✅Latest 3 months’ salary slips OR EPF statements ✅Latest 6 months bank statements ✅Latest BE Form with official tax receipt |
✅Copy of IC for both slides
✅Bank statements for the previous 6 months of the company ✅Copy of the Business Registration Certificate ✅Latest B form with an official tax receipt |
✅Copy of passport
✅Latest 3 months salary slips ✅Letter of confirmation |
After Your Application: Approval Process and Receiving Your Card
Application Review
After you’ve filed your HSBC credit card application, the bank will evaluate your creditworthiness, financial stability, and the evidence you’ve provided.
Notification
You will generally be notified of the decision following the review. If you haven’t heard back within a reasonable time (typically 7-14 business days), you should check the HSBC credit card application status by calling the HSBC credit card hotline. If you are still seeking for the HSBC credit card contact information, you can access it through their apps or their website.
Receiving Your Card
If your application is approved, your HSBC credit card will be mailed to you within a few business days. It is critical to follow any accompanying instructions in order to activate the card before using it.
If Declined
If your application is denied, you will usually receive a letter outlining the reason for the decision. If you have any questions or concerns regarding why you were rejected, contact the HSBC credit card hotline for assistance.
Conclusion: Choosing the Right Credit Card for Your Needs
Choosing the correct credit card is critical for good financial management. From cashback to rewards cards, the HSBC credit card portfolio has something for everyone. Before selecting on the best credit card for you, consider your spending habits, needs, and financial goals. Additionally, keep an eye out for the most recent HSBC credit card deal to get the most out of your chosen card.
If you’re interested on finding other best credit cards, you can visit our Best Credit Card in Malaysia 2023 page.
Disclaimer
This content is given for general informational purposes only and should not be construed as financial or legal advice. While we make every effort to deliver accurate and up-to-date information, we make no guarantees or representations on the completeness, accuracy, or reliability of any material supplied. HSBC credit card terms and conditions, including any incentives, are subject to change at the bank’s discretion. As a result, for the most current and personalised financial advice, it is best to speak directly with HSBC or a trained financial counsellor. Any information supplied here is used entirely at your own risk.
