Approval for any credit card will depend on your status. The APR shown represents 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.
HSBC Student Credit Card review February 2020
Existing HSBC student account holders can apply for this card to cover unexpected expenses and build a good credit history.
You say: ★★★★★We say: ★★★★★
Doing its job: 3.5/5
In a nutshell:
Up to 56 days
Interest-free each billing period
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
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.
How does this card compare with other student cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0345 7404 404), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates 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 for the HSBC Student Credit Card
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you will need to make the process as straightforward as possible.
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Our team evaluates credit cards to determine their value against similar products on the market.
We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.