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HSBC unsecured line of credit review

Last updated:  

Access up to $25,000 with no annual fee.

  • Best for borrowers who only want to take funds out as needed.
  • Pick something else if you don't want to open an HSBC bank account.


Max. Loan Amount

7.49% (starting of)



Product NameHSBC Select Credit
Min. Loan Amount$1,000
Max. Loan Amount$25,000
APR7.49% (starting of)
Interest Rate TypeVariable

First, am I eligible?

To qualify for an HSBC line of credit, you must:

  • Have an HSBC checking or savings account
  • Be a US citizen or permanent resident
  • Be the age of majority — 18 in most states


  • Introductory APR. HSBC lines of credit come with a 45-day introductory period. Well-qualified borrowers with a Premier account may receive an APR of 7.49% (starting of) .
  • Minimal fees. HSBC doesn’t charge any annual, cash advance, check transaction or balance transfer fees. This means you’ll only pay interest for the amount you borrow — and late fees, if applicable.
  • Overdraft protection available. You can choose to set up overdraft protection on a qualifying HSBC account. This comes with a variable APR of 20.24% and a $10 overdraft fee that’s waived for Premier account holders.
  • Access your FICO score. When you receive your monthly statement, you’ll also get access to your FICO credit score to keep track of your financial wellness.


  • Only open to HSBC account holders. Select Credit is only available to individuals with an HSBC checking or savings account.
  • No grace period. Interest starts accumulating the moment you receive an advance from your line of credit. There’s no grace period — not even for overdrafts.
  • High starting rates. If you don’t have a Premier account, you face an ongoing APR as high as 18.24%.
  • Unclear loan terms. HSBC doesn’t list the draw period or repayment terms for its line of credit, so you’ll need to reach out to customer service for more details.

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How do I apply?

HSBC offers three different ways to apply: online, by phone or in person.


To apply online, follow these steps:

  1. Visit HSBC’s website and hover over Borrowing.
  2. Click Select Credit under Personal Line of Credit.
  3. How to Apply.
  4. Under Online, click Apply now.
  5. Log in to your account and fill out the application.
  6. Read HSBC’s terms and conditions, then click Submit.

By phone

Call HSBC at 800-975-4722 to speak to a customer service rep Monday through Sunday from 7 a.m. to 12 a.m. ET.

In person

Visit your local storefront or use HSBC’s Find a branch tool on its Select Credit page to see your options.

How do repayments work with HSBC?

Once you have your line of credit, enjoy the 45-day introductory period with lower rates. Any purchase you make during this time will have this rate, even after the introductory period is over.

You can pay your Select Credit bill online, by mail, by phone or through autopay from your HSBC account. If you know you’ll have enough in your account each month to cover the automatic payments, you may want to opt for this. It could save you from receiving a $35 late fee. But if your check bounces or you don’t have enough in your account, you’ll be on the hook for a $35 returned payment fee.

If you have any questions, you can contact HSBC through live chat, by tweeting @HSBC_US or by calling one of its customer service numbers:

  • Personal accounts: 800-975-4722
  • Advance accounts: 866-584-4722
  • Premier accounts: 888-662-4722

See how HSBC stacks up to the competition with our guide to lenders that offer personal lines of credits. Or check out our page on personal loans to compare your other borrowing options.

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