Five Key Things You Should Know about HSBC Credit Cards | NerdWallet

As part of its exit from U.S. banking market in 2021, HSBC sold off some credit card products to First Bank & Trust; however there remain two HSBC cards open and available to U.S. consumers with rewards and other advantages. However, in order to be eligible for one of HSBC’s credit cards you must already be an existing customer of theirs and meet eligibility requirements; one card also comes with an annual fee that you should keep in mind when considering eligibility. Here are five things you need to know about their offerings. 1. There are two HSBC credit cards on offer through its U.S. office; both charge an annual fee of $95. To be eligible for either card you must also possess an existing US HSBC Premier checking account in good standing and fulfill stringent eligibility criteria. 2. Qualification requirements can be stringent Maintaining this account free from fees requires meeting a certain criteria: at least $100,000 total in deposits or investments or both. Minimum monthly direct deposits of $5,000.00; An HSBC U.S. residential mortgage loan; OR failing that, an HSBC Premier Checking Account may still be opened with an added $50 monthly maintenance fee; 3. Transfer funds between accounts at HSBC with our airline and hotel transfer partners for faster transfer. Full list of transfer partners includes EVA Air Infinity MileageLands; Qatar Airways Privilege Club; Turkish Airlines Miles&Smiles and ALL -Accor Live Limitless4. As well as enjoying other valuable perks, both cards offer various statement credits and discounts that help offset annual fees. For example, the HSBC Premier credit card provides up to $60 of streaming subscription credits (in $5 increments monthly) against its annual fees. Two free months of Instacart+ plus $10 off any qualifying order of $10 or more each month (worth up to $140 annually), along with free Shoprunner membership (valued at up to $79) and $5 Lyft app credits when taking three rides each month are awarded as benefits from this promotion.5. Consumer protections are integratedBoth cards offer cell phone insurance as well as purchase protection in case an item purchased is damaged or stolen, as well as coverage if travel plans become interrupted due to illness or injury.