[pin]

Going through the process of applying for my HSBC bank account in preparation for my move. I'm probably going to opt for the Power Advantage account. I also have the option to apply for a credit card, which I would like to have.

However reading the terms and conditions it seems to suggest there is an annual fee for having a credit card.

Is it common in HK to have annual credit card fees?

Also, as there better options as opposed to HSBC for credit cards?

Will credit checking be an issue? If that is going to be the case, would it be advisable to get the HSBC credit card in the first instance?

Thanks!!

[back2HK]

Is it common in HK to have annual credit card fees?

You can get a "free card" with Premier, but not with Powervantage, I think.

Many card companies will try and hook you in HK with a "fee waived" offer for the first year when you get here. But they will quietly charge you a renewal fee at the end of the year. If you are happy to change cards every year - you can get away with "free" cards.

Also, many issuers may be willing to swap your "bonus points" which you get for spending on the card towards your annual fee. You need to call up customer service and raise hell and threaten to cancel.

Having said this, if you can raise bank balance towards a HSBC premier - then the card is without an annual charge.

[freeier]

as long as you spend reasonably, amount differing for each card, they can either automatically waive it (meet threshold) or you can call them up and ask them to waive it. most time they will do so.

hsbc card is reasonable i guess. if you don't want surprises. but try not to use it in too exotic countries as it does not come with theft protection... thats what i heard.

[PDLM]

Note also that if you have Citibank/Cathay co-brand cards the waiving of the annual fee can be done either based on spending or on having frequent flyer status (silver or above) on Cathay.

[RastaMan]

Stay away from HSBC credit cards!

I applied and obtained one, and was promised a free mobile phone if I spent x amount of money. After a while I received a letter telling me I can go get the mobile phone.

I called a number they gave me, and asked to confirm that they have one in stock. They said yes, at the Hopewell Centre of Wanchai. I went there, and surprise surprise, they are out of stock.

I called back the same bloody number, and they said they may receive more phones some time next year.

I have written to HSBC and asked to send me IMMEDIATELY the phone. Will keep you informed. In the meantime I can only warn you NOT to get a credit card with HSBC!

[discobay]

To be fair the gift handling is farmed out and it is they who messed up. I signed up for a free ipod nano, rang ahead and collected on the same day.

[pin]

Hmm, basically you guys are saying wait until I get out to HK and see what the credit card companies offer?

[discobay]

Yes the offers change with every other month.

[KnowItAll]

>> I have written to HSBC and asked to send me IMMEDIATELY the
>> phone.

Yeah, I can see the world's local bank forcing a board meeting over your missing phone.

Don't ever confuse marketing messages from airlines and banks with reality.

[RastaMan]

A contract is a contract is a contract. If they don't give me my phone I am going to return them the card and refuse to pay the fees. They broke the contract so I won't follow it either.

Don't let the big guys (such as HSBC) step on you!