Mozo Review HSBC Low Rate Credit Card Review
Last updated: 4 December 2017.
If you're looking for a no frills credit card then the HSBC credit card deserves a look. With a low annual fee of $79 and up to 55 interest free days it is a good card to have in your wallet for everyday purchases.
It certainly comes with some snazzy features like a 0% balance transfer offer for 20 months (one off 2% balance transfer fee) and a low annual fee. The 13.25% purchase rate is standard compared with other balance transfer credit cards and if you pay off your balance in full each month you won't pay any interest or card fee.
The standard interest rate for the HSBC Low Rate card is 13.25% for purchases. The card is a Visa card so you can use it for in store and online purchases here and overseas. For purchases you get up to 55 interest free days when you pay the full balance by the due date. Be sure to set up regular monthly repayments as late payments will incur a $30 fee.
While the HSBC Low Rate card is not a rewards credit card, card holders get access to HSBC's Home and Away privileges programme which has special offers and discounts for travel, dining, shopping and experiences both in Australia or around the world. There are more than 19,000 offers available worldwide.
Who it's good for:
Anyone looking for a no frills credit card. The card has no annual fees and as long as you pay off the balance in full each month you won't pay any interest.
Make sure you set up your automatic payments and you watch that credit limit. You'll be stung by a $30 fee if you make a late payment or you go over your limit.