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Summary box

Summary box

Representative 18.9% APR variable.

 

The information contained in this table summarises key product features and is not intended to replace any Agreement Terms.

Transaction type Monthly rate Annual rate
Purchases 1.456% 18.9%
Cash advances 1.789% 23.6%

Summary box

Representative 18.9% APR variable.

 

The information contained in this table summarises key product features and is not intended to replace any Agreement Terms.

Transaction type Purchases
Monthly rate 1.456%
Annual rate 18.9%
Transaction type Cash advances
Monthly rate 1.789%
Annual rate 23.6%

Interest free period

Up to 56 days for purchases when you pay your balance in full every month by the due date.

Interest charging information

You will not pay interest on purchases if you pay your balance in full and on time each month. Otherwise, the period over which interest is charged will be as follows:
Type of transaction From Until
Purchases, balance transfers, cash advances and cash-related payments The date debited from your account Paid in full

Interest charging information

You will not pay interest on purchases if you pay your balance in full and on time each month. Otherwise, the period over which interest is charged will be as follows:
Type of transaction Purchases, balance transfers, cash advances and cash-related payments
From The date debited from your account
Until Paid in full

Allocation of payments

If the amount you pay in a month is less than the full amount you owe, we will apply the amount you pay in the following order:

  • any unpaid arrears or amounts over the credit limit;
  • the amount you owe us and shown in your statement;
  • any transactions, interest or charges not yet included in a statement.

 

We will apply your payment first to amounts on your account which we charge at the highest interest rate followed by amounts we charged at lower interest rates. In each case, interest and charges are paid off first. If some amounts are charged at the same interest rate, we will apply your payment to the oldest amounts first.

For further details, please refer to your Credit Card Terms and Conditions (PDF).

Minimum monthly repayment

When you entered your agreement The minimum amount you must pay
If you entered into your agreement with us before 23 March 2011, the minimum payment will be the higher of:

A. 2.5% of the full amount you owe as shown on your monthly statemtn (including interest and charges)

B. £5

If you entered into your agreement with us from 23 March 2011 onwards, the minimum payment will be the higher of: A. The sum of (a) interest for the period from the last statement, (b) any default charges, and (c) 1% of the full amount you owe as shown on your monthly statement (not including interest and charges)
B. 2.5% of the full amount you owe us as shown on your monthly statement (including interest and charges)
C. £5

Minimum monthly repayment

When you entered your agreement If you entered into your agreement with us before 23 March 2011, the minimum payment will be the higher of:
The minimum amount you must pay

A. 2.5% of the full amount you owe as shown on your monthly statemtn (including interest and charges)

B. £5

When you entered your agreement If you entered into your agreement with us from 23 March 2011 onwards, the minimum payment will be the higher of:
The minimum amount you must pay A. The sum of (a) interest for the period from the last statement, (b) any default charges, and (c) 1% of the full amount you owe as shown on your monthly statement (not including interest and charges)
B. 2.5% of the full amount you owe us as shown on your monthly statement (including interest and charges)
C. £5

Credit limit

The minimum credit limit is £500 and the maximum credit limit is subject to status.

Fees

No annual fees

Charges

Charge for Amount
Cash fee 2.99% of the cash advance or cash related payment, minimum £3
Balance Transfers

1.4% of each balance transferred within 60 days of account opening, minimum £5

2.9% of the balance transferred after 60 days from account opening, minimum £5

Charges

Charge for Cash fee
Amount 2.99% of the cash advance or cash related payment, minimum £3
Charge for Balance Transfers
Amount

1.4% of each balance transferred within 60 days of account opening, minimum £5

2.9% of the balance transferred after 60 days from account opening, minimum £5

Foreign usage

Dependent upon the type of transaction you undertake, one or more of the following will apply:
Type of transaction Fee
Payment Scheme exchange rate To find out more, visit the Visa Rates website
Non-Sterling transaction fee 2.99% of the Sterling amount of the transaction
Cash fee 2.99% of the amount advanced, minimum £3.00

Foreign usage

Dependent upon the type of transaction you undertake, one or more of the following will apply:
Type of transaction Payment Scheme exchange rate
Fee To find out more, visit the Visa Rates website
Type of transaction Non-Sterling transaction fee
Fee 2.99% of the Sterling amount of the transaction
Type of transaction Cash fee
Fee 2.99% of the amount advanced, minimum £3.00

Default charges

Type of charge Amount
For paying late £12
For going over your credit limit £12
For payments which are returned unpaid £5
For enforcing repayment, including legal and tracing costs Our reasonable costs

Default charges

Type of charge For paying late
Amount £12
Type of charge For going over your credit limit
Amount £12
Type of charge For payments which are returned unpaid
Amount £5
Type of charge For enforcing repayment, including legal and tracing costs
Amount Our reasonable costs

Illustrative example

For a purchase valued £500 on your HSBC Student Credit Card (includes introductory rates)
Question Minimum payment each month £50 payment each month £100 payment each month
Taking into account introductory rates, how much interest will you be charged in the first year? £88.23 £47.81 £26.35
How much interest will you be charged in the second year? £73.88 £0 £0
How long will it take to clear the balance? 12 years, 3 months 11 months 6 months

Illustrative example

For a purchase valued £500 on your HSBC Student Credit Card (includes introductory rates)
Question Taking into account introductory rates, how much interest will you be charged in the first year?
Minimum payment each month £88.23
£50 payment each month £47.81
£100 payment each month £26.35
Question How much interest will you be charged in the second year?
Minimum payment each month £73.88
£50 payment each month £0
£100 payment each month £0
Question How long will it take to clear the balance?
Minimum payment each month 12 years, 3 months
£50 payment each month 11 months
£100 payment each month 6 months

 

The above example assumes the following: the transaction takes place on 1st January and you make no further transactions; you always make the payment on the 15th; your statement is produced 31 days after you make the purchase; interest is calculated based on the representative 18.9% APR variable rate, and introductory rates are included.

 

We recommend that you pay more than the minimum payment whenever possible. If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance, as shown in the example above.

Recurring transaction

A recurring transaction, sometimes called a continuous payment authority, is a series of payments collected with your agreement from your card by a retailer or supplier (for example, breakdown cover). This is an agreement between you and the retailer. The Direct Debit Guarantee does not cover these transactions.

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