When looking for a credit card, you must first consider your financial situation and spending tendencies. Do you spend mostly on groceries and dining? Do you have an active night life? Are you a frequent traveler? Is the thought of paying high annual fee unpalatable? Because rewards and benefits don’t seem so comparable, the sheer number of options available in the market can be downright overwhelming. We believe that your credit card should match your unique needs because your circumstances are different from others. To help you navigate through this complex world, our team has reviewed over 100 credit cards in Singapore and handpicked a few that stand out. Here, we have pulled a few cards from HSBC that have excellent value propositions and explain why they might be some of the best cards in Singapore for certain people.
We have reviewed each card from HSBC in detail below. Read to learn what makes them special and if they could be an ideal choice for what you need.
|Best HSBC Cards||Annual Fee||*2-Year Dollar Value|
|HSBC Advance Visa Platnium Card||S$0.0||S$2,174|
|HSBC Visa Platinum Credit Card||S$180.0||S$1,244|
HSBC Advance Visa Platinum Card is one of the top travel cards in Singapore for a number of reasons. First, it has zero annual fee. Secondly, it has extremely generous mile awards rates of 4 miles per S$1 spent on major categories like online shopping, dining and entertainment. Although HSBC Advance card's flat rate award is relatively weak at 0.4 miles per S$1 spent on other categores, we think 4 miles on the 3 aforementioned areas is good enough to earn more than S$2,000 of awards over a 24-month period. The best part, of course, is that all of this comes for free.
Pros of HSBC Advance Visa Platinum Card
- No annual fee
- 4 miles on online spend (shopping and travel bookings), dining, and entertainment
- 16% off on petrol at Caltex & Shell
- S$85 HSBC’s All Days Movie Card if you spend S$100 in the first month, S$950 Samsonite luggage if you spend S$500 per month for the first 3 months
Cons of HSBC Advance Visa Platinum Card
- Very low flat award rate of 0.4 miles per S$1 spend on everything outside of online, dining and entertainment
- Not many other perks to speak of (i.e. lounge access, airport limousine service, etc.)
HSBC Visa Platinum Credit Card is a well-rounded, every day credit card affordable for anyone with a moderate budget. Not only does it provide 5% cashback on groceries and utilities, it also can double up as a travel card because it offers an additional 0.4 miles for every S$1 you spend on the card. The cashback + mile offer is quite unique in Singapore, and sets this card apart from the crowd. Its annual fee also comes with an easy waiver as long as you spend S$12,500 annually (about S$1,000 a month) on the card.
Pros of HSBC Visa Platinum Credit Card
- 5% cashback on grocery
- 5% cashback on utilities like cable, internet and mobile bills
- Up to 21% off on petrol at Shell and Caltex
- 0.4 miles for every S$1 you spend
- S$85 HSBC’s All Days Movie Card if you spend S$100 in the first month, S$20 Cash Rebate + S$950 Samsonite luggage if you spend S$500 per month for the first 3 months
Cons of HSBC Visa Platinum Credit Card
- Only 2% cashback on dining
- S$800 monthly spend requirement to enjoy full benefit
- S$120 cap on quarterly cashback (S$40 a month)
To aid your card selection process, we have compiled and compare & contrast analysis of each card from HSBC against its peers.
HSBC Advance vs Citi PremierMiles Card
Compared to HSBC Advance card, Citi PremierMiles Card caters to people with more well-rounded budgets. Its annual fee of S$192.6 well justified: it offers 1.2 miles for S$1 spent locally, 2 miles for S$1 spent overseas and 14% off on petrol at Shell & Esso stations. Not only that, Citi PremierMiles gives you a bonus mile of up to 30,000 miles when you apply and spend S$10,000 within the first 3 months. Therefore, we highly recommend getting a Citi PremierMiles Card to those who can afford the annual fee and whose budget includes more categories like groceries, petrol, dining and shopping, just to name a few.
HSBC Advance vs Amex KrisFlyer
American Express Singapore Airlines KrisFlyer Card is a great option for people who are unfamiliar with how miles cards work. Amex KrisFlyer card is very easy and convenient to use because it deposits KrisFlyer miles directly into your KrisFlyer account. Hence, it reduces the complexity of converting your miles and paying additional fees. Its award program is decent, with 1.1 mile for S$1 of local spend and 2 miles for spend your online travel bookings on Singapore Airlines and Silk Air.
HSBC Advance vs Maybank Horizon Platinum Visa Card
Maybank Horizon Platinum Visa Card is another affordable travel card for people with low budget. Its annual fee is extremely easy to get waivered: it only requires a meager S$1,000 of monthly spend to qualify for the fee waiver. Maybank Horizon card offers 2 miles on your travel, petrol and weekend dining expenses. While HSBC Advance is superior in its dining rewards offer, Maybank Horizon is still superior in terms overseas spend award (2 miles vs 0.4 miles from HSBC Advance) and foreign transaction fee (1% vs 1.5% from HSBC Advance). Compared to HSBC Advance card, Maybank Horizon may make more sense for people who spend a considerable amount of time and money outside overseas.
HSBC Visa Platinum vs OCBC 365 Card
OCBC 365 is one of top cashback cards in Singapore that is perfect for daily use. While HSBC Visa Platinum offers better rates on recurring monthly bills, OCBC 365 offers better rates on dining (6%) and online shopping (3%). While it doesn't award miles like HSBC Visa Platinum, OCBC 365 is more comprehensive in benefits and is even "cheaper" than HSBC Visa Platinum because it waivers the annual fee for only S$5,000 of annual spend.
HSBC Visa Platinum vs POSB Everyday Card
In our opinion, POSB Everyday card is the best cashback card in Singapore. While its grocery cashback of 5% lags behind its peers like Citi Cashback, POSB Everyday compensates with its up to 9% rebate on weekend dining (3% on weekdays). It can also double up as an EZ-reload card with an unlimited 2% rebate on Auto Top-Ups. Best of all, POSB Everyday does not limit the amount of dollars you can save in a given period, so you can earn hundreds if not thousands of dollars in cashback every year. Practically, HSBC Visa Platinum wins againt POSB Everyday only in the utility bill category. The downside, so to speak, is that POSB Everyday does not waive its S$128.4 of annual fee. If you can comfortably stomach such fee, we think POSB Everyday Card could be a great choice.
HSBC Visa Platinum vs UOB Delight
UOB Delight is our best grocery rewards card. As long as you don’t mind purchasing house brands at Cold Storage, Giant and Guardian, UOB Delight can help you save up to 18% on your grocery expenditure. Even without purchasing house brands, UOB Delight will save you 8% on groceries. Other features aren't as great as other cards, but it's still decent. For instance, its annual fee is extremely low at S$85.6, and it offers a 2% rebate on monthly utility bills. Therefore, if you cook a lot at home and don't have many phone bills to take care of, UOB Delight could be a better choice for you.
*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.