The HSBC Purchase Plus Credit Card comes with many different features that are quite appealing to many customers. One of these benefits is that it has a 0% interest period for all balance transfers that are done within the first 60 days of getting the card.
This helps customers who are seeking a way to reduce the high interest they are currently paying on their existing credit cards and gives them the opportunity to enjoy greater financial flexibility on any new purchases.
These are some of the selling points that make this card a favorite choice for most people. In this review, we take a look at some more reasons you should consider having the HSBC Purchase Plus Credit Card. Read on to learn more.
Balance Transfer Offer
The card will give you 18 months of 0% interest for all balance transfers, although you must make them within the first 60 days of getting the card.
Consumers who have high-interest debts they may be servicing could benefit from this, as it gives them ample time to pay back what they owe.
0% Interest on Purchases
This card comes with an excellent offer of 0% interest rate on all purchases that are made in the first 18 months of account opening.
Although it is not always a good idea to increase your debt, especially for people who would wish to use the card solely for balance transfers, 0% interest offers you plenty of financial flexibility.
Cashback Rewards
This is a Visa-branded card, which means that it is accepted in more than 200 countries around the world. It offers you cashback rewards that are branded. It also operates as a home and away rewards service for customers.
Eligibility Criteria
To be eligible for the card, you cannot hold an HSBC Basic account. You must be a permanent resident of the UK or hold a valid Visa, and you must be over 18 years old.
You must have had an address for the last 3 years, and you must have an income of around £6,800.
How to Apply
You can apply for the card online if you have already registered for online banking, or through the mobile app, or in person at the branch. Although, online applications are much faster.
The information you will need for the application are your name, permanent address, income information, expenses, any payments you are making, your email address, and telephone number.
Interest Rates and Fees
The HSBC Purchase Plus Credit Card is a great option if you are looking for a new credit card. There are fees and rates associated with this card, and these charges should be considered.
- Representative APR: 22.9%
- Purchase APR: 22.9% - 25.9%
- Cash advance APR: 27.9%
- Balance transfer APR: 22.9% - 25.9%
- No annual fee
- Cash advance fee: 2.99% handling fee, minimum £3
- Balance transfer fee: 2.90% (minimum £5) of each balance transferred within 60 days of account opening
- Non-Sterling Transaction fee: 2.99% of the Sterling amount of the transaction
- Foreign cash usage fee: 2.99% of the amount advanced, minimum £3.00
Contact Information
If you would like to get in contact with a HSBC representative, you can reach them by calling +44 020 7991 18888. Their mailing address is HSBC Building, At. 8 Canada Square, London E14 5HQ, United Kingdom.
Conclusion
With the HSBC Purchase Plus Credit Card, you are able to eliminate high-interest charges you are currently paying on your existing credit cards. All you have to do is ensure that you transfer the balance on other cards within the first 60 days of getting the card.
Note: There are risks involved when applying for a loan. Consult the lender’s terms and conditions page for more information.
