HSBC exited the U.S. banking market in 2021 and sold some credit card products to First Bank & Trust. However, there are still two HSBC credit cards available to U.S. consumers that offer rewards and benefits. To be eligible for these cards, you must have an existing relationship with HSBC. One of the cards has a high annual fee, so that is something to consider.
Here are five important things to know about the HSBC credit cards:
1. There are two HSBC credit cards:
– The HSBC Premier credit card: $95 annual fee.
– The HSBC Elite credit card: $495 annual fee.
2. The qualification requirements are strict:
– You need an existing U.S. HSBC Premier checking account.
– Requirements to maintain the account without a fee are high.
– Requirements include total deposits, investments, direct deposits, or an HSBC U.S. residential mortgage loan.
3. Both cards earn rewards:
– Earn generous sign-up bonuses and rewards on ongoing spending.
– Rewards can be redeemed for cash back or travel booked through HSBC Travel.
4. You’ll get other valuable perks:
– Both cards offer statement credits and discounts to offset annual fees.
– Perks include credits for streaming subscriptions, Instacart, Lyft, Shoprunner, and more.
5. Consumer protections are built-in:
– Both cards offer cell phone insurance, purchase protection, and coverage for travel interruptions or cancellations due to covered reasons like illness or injury.
Overall, the HSBC credit cards offer a range of benefits for cardholders who meet the strict eligibility requirements and are looking to earn rewards and enjoy valuable perks.