HSBC Student Credit Card review
- Representative example:
- Representative 18.9% APR variable. Based on assumed borrowing of £500. Rate of interest 18.9% p.a. (variable).
- Interest-free each billing period
- Up to 56 days
- Account fee
- £0
Our verdict
Existing HSBC student account holders can apply for this card to cover unexpected expenses and build a good credit history.Like most student credit cards, HSBC's card comes with a low credit limit and no annual or monthly fee. Perks can be few and far between in the student credit card space, but if you take out this card you will enjoy personalised cashback offers through the Visa Offers programme.
Student cards also typically don't have the most competitive rates around (in part due to the limited credit histories of many of the cards' users). However, provided you clear your balance in full each month, you will be able to take advantage of up to 56 days of 0% interest on your purchases.
It's smart to be cautious about taking out a credit card while studying. If your income is minimal and paid infrequently, be realistic about how quickly you will be able to pay off any borrowing. On the plus side, if you don't carry a balance from month-to-month and you use this card responsibly, it could help you to handle fluctuating costs, earn you a little cash back and help kick start a positive credit record – standing you in good stead for your future borrowing requirements.
As with most student credit cards, you'll need to hold a regular student bank account with HSBC in order to be eligible to apply.
Pros
- Up to 56 days to spread the cost of purchases (provided you pay off your balance in full each month)
- Customers report excellent customer service when dealing with HSBC
- Earn points on day-to-day spending
- No annual fee
Cons
- Applicants with low credit scores are unlikely to be eligible
- To apply, you must hold a student bank account with HSBC
Details
Product overview
| Issuer | HSBC Bank plc |
| Network | Visa |
| Annual/monthly fees | £0 |
| Minimum credit limit | £0 |
| Maximum credit limit | Subject to status: £500 |
| Credit limit note | Subject to status |
| Purchases | 18.9 |
| Purchases interest-free period (days) | 56 |
| Additional cards available | 1 |
| Potential costs | 7Great |
| Extras | 9.9Excellent |
| Overall Finder Score | 9.5Excellent |
Fees and charges
| Minimum monthly payment | Greater of: 1% of the underlying balance plus the month's interest and any applicable fees and charges; 2.5% of the underlying balance; £5; or the outstanding balance. |
| Annual/monthly fees | £0 |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 2.99 |
| Late payment fee | 12 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Minimum income | £0 |
| Availability | Available to existing customers |
The HSBC Student Credit Card is issued on the Visa network (used by a whopping 4.2 billion cards), so you'll be able to use it at more than 100 million merchant locations across more than 200 countries and territories.
How does it compare with other student deals?
Compare other products
We currently don't have that product, but here are others to consider:
How we picked theseFinder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Defaqto.
Repayment options
You can make manual repayments through HSBC's app by logging in to your online banking or over the phone (0345 7404 404). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (12) as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
How to apply
If you're an existing HSBC student banking customer and you've compared cards and settled on the HSBC Student Credit Card, provided you're registered for internet banking you can log-in and apply in a few minutes using the secure online form. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
Frequently asked questions
