The HSBC Classic Credit Card is one of HSBC’s entry-level credit cards, designed for individuals who are looking to build their credit history or simply want a straightforward credit card with no frills. Whether you’re new to credit or want a reliable card for day-to-day spending, this review will help you decide if the HSBC Classic Credit Card fits your needs.
In this comprehensive guide, we’ll explore the card’s features, fees, and eligibility requirements, so you can make an informed decision before applying.
Key takeaways
- HSBC Classic Credit Card is a simple, no-frills option designed for first-time credit users or those building their credit history.
- It offers no annual fee, up to 56 days interest-free on purchases, and full integration with HSBC’s mobile banking app.
- The representative APR is 29.9%, making it unsuitable for carrying a balance but manageable if paid off in full each month.
- There are no cashback, rewards, or travel perks, so this card focuses entirely on basic spending and credit building.
- Applicants need to be UK residents aged 18 or over, with a minimum annual income of £6,800 and a reasonable credit history.
- While it’s accessible and easy to manage, competing cards from Barclays and NatWest may offer better rates or perks for similar users.
What is the HSBC Classic Credit Card?
Unlike other premium credit cards, the HSBC Classic Credit Card is a basic credit card option offered by HSBC UK, targeted at customers who might be new to credit or looking for a simple borrowing option without premium extras. It’s designed to help users manage their spending while potentially improving their credit score, provided the account is handled responsibly.
This card sits within HSBC’s broader range of products, offering a low minimum credit limit, a straightforward fee structure, and integration with HSBC’s mobile banking app. While it doesn’t come with the bells and whistles of premium credit cards, its simplicity makes it an attractive choice for first-time credit users or those who want a card for occasional spending.
Features of HSBC Classic Credit Card
Interest-free period
The HSBC Classic Credit Card offers up to 56 days of interest-free credit on purchases, provided you pay your balance in full and on time each month. This feature makes it useful for spreading the cost of purchases over short periods without incurring interest charges.
Purchase APR
The typical representative APR is around 29.9% variable, although the actual rate you’re offered depends on your creditworthiness. As this is an entry-level card, the APR tends to be higher than that of premium or rewards-based cards.
Minimum credit limit
Credit limits start from £250, making it accessible for those with limited credit history. Depending on your circumstances, HSBC may offer a higher limit after reviewing your financial situation.
Cashback or rewards
The HSBC Classic Credit Card does not offer cashback or rewards. It’s positioned as a functional card for everyday spending and credit building rather than one designed to earn perks.
Mobile banking integration
Cardholders can fully manage their account via the HSBC UK mobile banking app, allowing you to check balances, review transactions, set spending limits, and make payments with ease. This digital integration is particularly useful for users who prefer managing their finances on the go.
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HSBC Classic Credit Card Rates and Fees
Understanding the costs associated with the HSBC Classic Credit Card is essential before applying. Below is a clear breakdown of the key rates and fees you should be aware of:
| Fee Type | Amount/Rate |
|---|---|
| Representative APR | 29.9% variable |
| Purchase rate | 29.9% p.a. variable |
| Cash advance fee | 2.99% (minimum £3) |
| Balance transfer fee | 3% of the transfer amount (minimum £5) |
| Foreign transaction fee | 2.99% on non-sterling transactions |
| Late payment fee | £12 |
| Returned payment fee | £5 |
| Duplicate statement fee | £0 (free digital statements via online banking) |
Key considerations
- High purchase APR – At nearly 30% representative APR, this card is not ideal for long-term borrowing. To avoid interest, it’s best to clear your balance in full each month.
- Cash withdrawals are expensive – Using the card to withdraw cash is costly due to both the cash advance fee and the immediate application of interest.
- No annual fee – One advantage is that the HSBC Classic Credit Card doesn’t charge an annual fee, keeping it relatively low-cost if you manage your balance carefully.
Eligibility Criteria for HSBC Classic Credit Card
HSBC has set clear eligibility requirements for applicants considering the Classic Credit Card. Meeting these criteria does not guarantee approval, but failing to meet them will almost certainly result in a declined application.
Minimum criteria to apply:
- Age: You must be 18 or older.
- Residency: You must be a UK resident.
- Income: A minimum annual income of £6,800 is required.
- Credit history: While you don’t need a perfect credit score, you should have some credit history and no serious adverse credit such as bankruptcy or CCJs (County Court Judgements) within the past six years.
Additional factors HSBC considers:
- Current relationship with HSBC – Existing HSBC customers may have a slightly higher chance of approval.
- Employment status – Being employed full-time, part-time, or self-employed is acceptable, but your income must be stable and verifiable.
- Debt-to-income ratio – HSBC will assess your existing financial commitments (like loans, overdrafts, and other credit cards) to ensure you can afford further credit.
Credit check
All applications are subject to a hard credit check, which will appear on your credit file. Too many recent applications could lower your credit score, so it’s important to only apply if you meet the criteria.
How to Apply for the HSBC Classic Credit Card
Step 1: Check your eligibility
Before applying, it’s wise to use HSBC’s eligibility checker. This tool performs a soft credit check, which won’t impact your credit score, and gives you an indication of whether you’re likely to be approved.
You’ll need to provide basic details, including:
- Your income and employment status.
- Any existing financial commitments.
- Your address history for the past 3 years.
Step 2: Gather necessary documents
If you decide to proceed with a full application, you’ll need:
- Proof of identity (passport, driving licence).
- Proof of income (payslips, bank statements if self-employed).
- Address verification (utility bill, council tax statement).
Step 3: Complete the online application
You can apply directly via the HSBC website, where you’ll fill in your personal details, financial information, and agree to a hard credit check. Alternatively, you can apply in-branch if you prefer face-to-face assistance.
Step 4: Application review and decision
HSBC usually provides an instant decision if your application is straightforward. In some cases, they may request additional documentation or further checks, which could delay the decision by a few days.
Who Should Get the HSBC Classic Credit Card?
This card is best suited to:
First-time credit card users – If you have limited credit history but want to start building your credit profile, the HSBC Classic Credit Card can be a stepping stone.
Existing HSBC customers – Already banking with HSBC? You may find the application process smoother and benefit from easier account management.
Budget-conscious spenders – With no annual fee and a relatively low minimum credit limit, it’s a low-commitment option for those who want a basic card for small purchases.
Who it’s not ideal for:
Those wanting rewards or cashback – This card doesn’t offer any perks or loyalty schemes.
People needing low-interest borrowing – The 29.9% APR is steep, so this isn’t a good choice for carrying balances month to month.
Frequent travellers – Due to its foreign transaction fees, this isn’t the best card for overseas spending.
Pros and Cons of the HSBC Classic Credit Card
Pros
- ✅ No annual fee – Keeping it cost-effective if you clear your balance.
- ✅ Up to 56 days interest-free on purchases when you pay in full.
- ✅ Easy account management via HSBC’s highly rated mobile app.
- ✅ Entry-level credit requirements – Suitable for those with limited credit history.
Cons
- ❌ High purchase APR compared to more premium cards.
- ❌ No rewards or cashback – Not ideal for maximising your spending.
- ❌ Expensive cash withdrawals with immediate interest charges.
- ❌ Foreign transaction fees – Making it a poor choice for travel spending.
HSBC Classic Credit Card vs Other HSBC Cards
Here’s a comparison to help you see how the Classic Credit Card stacks up against some other HSBC options:
| Card | Annual Fee | Representative APR | Rewards | Best for |
|---|---|---|---|---|
| HSBC Classic | £0 | 29.9% | None | Everyday spending, credit building |
| HSBC Rewards Credit Card | £0 | 23.9% | Rewards points on purchases | Earning rewards on spending |
| HSBC Balance Transfer Card | £0 | 22.9% | None | Transferring and repaying existing debt |
| HSBC Premier Credit Card | £0 (for Premier customers) | 23.9% | Rewards + travel perks | Premium banking customers with high income/assets |
Key takeaway
The HSBC Classic Credit Card is purely functional — its main appeal is accessibility. If you’re looking for rewards, perks, or cheaper borrowing, one of HSBC’s other options will likely suit you better.
HSBC Classic Credit Card – Customer Reviews and Ratings
Customer feedback can be invaluable when deciding if a credit card is right for you. Based on reviews from sites like Trustpilot, MoneySavingExpert, and major consumer finance forums, here’s a summary of what real customers say about the HSBC Classic Credit Card:
Positive feedback
- ✅ User-friendly mobile app – Many cardholders praise HSBC’s app for its simplicity and ease of use.
- ✅ Straightforward application – Customers often report a quick and hassle-free application process.
- ✅ Reliable for credit building – Several users highlight that using this card responsibly helped improve their credit scores over time.
Common complaints
- ❌ Customer service wait times – Some reviews mention difficulty reaching HSBC’s customer service team during busy periods.
- ❌ Unexpected fees – A few customers were caught out by cash withdrawal fees or forgetting to pay on time.
- ❌ Limited benefits – Experienced credit card users often feel the card lacks incentives, particularly for loyal HSBC customers.
Overall rating
Most customers rate the HSBC Classic Credit Card around 3.5 to 4 stars out of 5, with positive comments focusing on its simplicity and mobile banking, and negative ones relating to fees and limited perks.
Alternatives to the HSBC Classic Credit Card
If you’re considering the HSBC Classic Credit Card, it’s worth comparing it with similar cards from other major UK banks. While HSBC’s offering is simple and accessible, some competitors provide slightly better perks or lower fees for first-time credit users.
Barclays Forward Credit Card
Barclays’ Forward Credit Card is designed for building credit and is popular among students and young adults. It offers:
- An APR starting at 33.9%, which is higher than HSBC’s.
- No annual fee.
- Credit limit starting from £50, making it accessible if you’re just starting out.
- Potential for the APR to reduce over time if you manage the card well.
NatWest Credit Card
NatWest’s standard credit card is interest-free on purchases for up to 56 days, similar to HSBC Classic. Key differences include:
- A slightly lower representative APR at 24.9%.
- Stronger customer support feedback.
- Available only to existing NatWest current account holders.
Lloyds Classic Credit Card
Lloyds’ Classic Credit Card is another close match. It offers:
- APR of 29.9% — identical to HSBC.
- Free mobile banking through the Lloyds Bank app.
- Occasionally, introductory balance transfer offers, which HSBC Classic lacks.
Which is best?
It depends on what matters most to you. If you want the lowest APR possible, NatWest may win out. If you value flexibility and the chance to reduce your rate over time, Barclays Forward is attractive. For simplicity and easy account management within the HSBC ecosystem, the HSBC Classic Credit Card holds its own.
Final Verdict – Is the HSBC Classic Credit Card Worth It?
The HSBC Classic Credit Card is a solid entry-level choice, particularly for those who already bank with HSBC. It’s easy to manage, has no annual fee, and offers enough interest-free breathing room if you clear your balance each month.
However, it’s a purely functional card — it won’t earn you rewards, cashback, or travel perks. The relatively high APR also means it’s only suitable if you’re confident you’ll pay off your balance in full each month. If you’re looking for a starter card that helps build your credit without unnecessary costs, it’s worth considering.
FAQs about the HSBC Classic Credit Card
Does applying for this card affect my credit score?
Yes, if you submit a full application, HSBC will carry out a hard credit check, which appears on your credit file and may temporarily lower your score. However, you can use HSBC’s eligibility checker first — this only performs a soft check, which doesn’t affect your credit rating.
What credit score do I need for HSBC Classic?
HSBC doesn’t publish an official minimum credit score, but this card is designed for people with limited credit history — meaning you don’t need an excellent score to qualify. However, if you’ve had recent missed payments, CCJs, or bankruptcies, approval will be unlikely.
Can I use this card abroad?
Yes, but foreign transaction fees apply. You’ll pay 2.99% on non-sterling transactions, making this a poor choice for regular overseas spending. If you frequently travel abroad, you may want to consider a travel-friendly credit card that offers fee-free foreign spending.
Is there a student version of this card?
No, HSBC doesn’t offer a dedicated student version of the Classic Credit Card. However, students who meet the income and residency criteria are welcome to apply. HSBC does offer a Student Bank Account, which comes with an interest-free overdraft, but that’s a separate product.
How does the contactless limit work?
The HSBC Classic Credit Card supports contactless payments up to the standard UK limit of £100 per transaction. For payments over £100, you’ll need to insert your card and enter your PIN. You can also add the card to Apple Pay or Google Pay, allowing for higher-value transactions with enhanced security.
