HSBC Credit Card Application: A Guide for First Timers

Published: July 8, 2020 | Updated: January 12, 2021 | Posted by: Venus Zoleta | Credit Card

HSBC Credit Card Application: A Guide for First Timers | Moneymax

HSBC is one of the largest banks in the world and one of the leading credit card providers in the Philippines. HSBC issue five types of credit cards that cater to different lifestyles and needs. All HSBC credit cards come with an attractive reward program, a 0% installment plan, fuel rebates, and other exclusive deals.

Already got a card in mind? Here are the four steps to keep in mind for your HSBC credit card application.

HSBC Credit Card Application Steps

1. Check if You’re Qualified for an HSBC Credit Card

Make sure that you’re eligible to apply for an HSBC credit card—this is the first and most important step in the entire application process.

You can apply for one of HSBC credit cards if you meet all these requirements:

  • Between 18 and 70 years old
  • A gross annual income of at least P200,000 (for Red Mastercard and Gold Visa Cash Back) or P500,000 (for Platinum Visa)
  • An HSBC Advance[1] bank account (for HSBC Advance Visa) or an HSBC Premier[2] bank account (for HSBC Premier Mastercard)
  • Primary cardholder of a credit card that’s issued by a bank in the Philippines and in good standing for at least 12 months (for Red Mastercard, Gold Visa Cash Back, and Platinum Visa)

hsbc credit card application - hsbc red mastercard cta

2. Get All Your Supporting Documents Ready

HSBC will process your credit card application only when it has received all the required documents[3]. Since some documents take a while to obtain, especially the government-issued ones, it’s best to prepare them first before you proceed with applying for a credit card.

HSBC Credit Card Requirements:

Proof of identity: 

  • Any of the following: passport, postal ID, driver’s license, or NBI clearance;
  • Any two of the following: SSS ID, PRC license, TIN ID, voter’s ID, birth certificate, police clearance, or company ID (SEC-registered companies only)
  • For foreigners: Visa, Alien Certificate of Registration, or Immigration Certificate of Residence

Proof of income:

  • Employed applicants: Latest Income Tax Return/ITR, BIR Form 2316, or three months’ payslips
  • Self-employed applicants and entrepreneurs: Latest ITR, photocopy of business registration with photo, and financial statement for the last three months
  • Overseas Filipino workers (OFWs): certificate of employment or contract of employment and working visa, work permit, POEA-issued OFW card, or POEA certificate

Proof of residence: Latest utility billing statements named under the applicant, addressed to the applicant’s residence, and issued within the last three months

Read more: Applying for a Credit Card? Prepare These Credit Card Requirements First

HSBC Credit Card Application - HSBC Cash Back

Photo courtesy of HSBC Facebook Page

3. Decide Which HSBC Credit Card to Apply For

Before your actual credit card application, you need to know the most suitable HSBC credit card for you. Examine your options carefully by comparing the various important credit card features:

  • Annual fee: Whether you can afford the cost or not
  • Interest rate: This won’t matter, however, if you’re sure that you can fully repay your credit card balance each month
  • Rewards: The kind of rewards offered should be for categories you frequently spend on (e.g., travel, shopping, dining, etc.)

Read more: 8 Credit Cards with Easy Application Requirements

4. File Your HSBC Credit Card Application

An HSBC credit card application can be done either in-branch or online. You can visit any of the bank’s branches in Metro Manila, Cebu, and Davao and submit your supporting documents there.

HSBC Credit Card Online Application

If you prefer an online credit card application, go to the HSBC Credit Cards page[4] on the bank’s official website and click the ‘Apply Now’ button under your chosen HSBC credit card.

Completing the online application form takes about 10 minutes. To make the process quicker, get ready with your valid ID number and credit card number from another bank. After filling out all fields, click the ‘Submit’ button.

You’ll receive an email requesting for submitting your supporting documents. Use the HSBC Online File Upload Service to upload documents for your HSBC credit card application online. It accepts images not more than 2MB in PDF, JPEG, TIFF, and GIF formats.

HSBC takes around five to 10 working days to process a credit card application after receiving your completed application form and all supporting documents.

Final Thoughts

An HSBC credit card application is a straightforward process, especially if you do the steps properly and submit all the requirements. If you’re looking for a more flexible credit card, you can’t go wrong with HSBC’s extensive selection of capable credit cards.

Read more: HSBC Credit Card Promo 2020: 10 Offers You Should Not Miss

Compare and apply for a credit card today!