A Credit Card is a plastic card. It is not money like many think and spend, but it is a transacting key for a safe which is your account. The more you transact and the less you pay in time, your safe gets emptier faster. A Credit Card is safe as long as you do not loose that in the net or in the street and as long as it is used with care and Judgment.
HSBC Gold Card-Shear Gold from your local Bank
HSBC Bank (The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance in Europe and mainland China ) became one of the leading multi national banks in the world headquartered in London. Its principles and practice had led it to emerge as one of the leading players in Personal & Corporate Banking including Credit Cards around the world.
Though it does not have so many branches or ATM in India unlike ICICI Bank or others, it has really lived upto its statement “World’s local Bank”. I applied for HSBC Card some ten years back which turned out to be my first Credit Card with a humble beginning with a credit limit of Rs 15000/-.It has lived the test of time and become two Gold Cards, Master and Visa with Credit limits above Rs 3, 00, 000/- each and have really become a useful tool for my Personal as well as Business purposes since then while other cards like American express, Citibank and ICICI Bank’s have got either faded or erased into darkness.
What makes HSBC Gold Card shine above the rest for me?
It is truly a local Banking Card for me. Perfect service every month by the HSBC Personnel who calls up and takes appointment and picks up the cheque payment. I don’t even have to go searching for drop box.
Even if I am traveling and the payment gets delayed for couple of days, the Chennai office calls up to find out when they can pickup the payment. Telephone banking has been highly responsible and efficient.
A Monthly statement that reflects clarity and perfection in billing. For someone who has been using their card for Ten years, not a single false transaction, clear interest charges and Bonus point details makes it very transparent.
For the last two years I have been using Internet Banking which has been very user friendly and detailed including present Transactions, net worth and Bonus Point rewards. You can also correspond to them by M2M kind of messages which is fast unlike MS and receives prompt attention without getting deleted. The site ( hsbc.co.in ) is comprehensive and complete in all respects for any information that you may want.
I pay my annual subscription through bonus points and they have been kind enough to waive the fee on three occasions.
They have allowed payments in excess of credit limit on numerous occasions and I have never been declined till date which is the best part of HSBC. The ICICI and Amex have been very stingy in this regard and I have discarded both of them.
The Bonus rewards program has been truly a golden bonus for me. I almost get my clothing needs done by that every year which is quite good. They send the gift vouchers within 3 days of reclaiming the Bonus on the net. The amex took more than 20 days once.
Everyone thinks that AMEX Cards are the best for balance transfers. What use having a global card like Amex which you cannot use in many Counters in India. HSBC offers the same privilege with a perpetual balance transfer of 0.99% from other cards, which does not put a dig on your safe.
HSBC is sending free issue of Auto Magazine every month as well as subsidized subscription rates on Business India.
The key to using a right card in present scenario is to pick a card which gives multiple benefits in a mixed bag. Look out for the following one or many benefits from a card if you want to get the best out of any card.
Free Card for life- They are normally combined with other agencies like Petrol companies and airline companies. The Credit limit will be low and interest charges high.
Partnership cards between airline companies, petrol companies which are chargeable and avail free petrol surcharge and EMI on air tickets.
Balance transfer options to pay lesser interest.
International card & 5. Online usage facility.
HSBC Gold cards being premium cards offer all the facilities except that they are not free for life. You can always pay from Bonus points if planned judiciously.
When you offer gold, it always gets hunted. That is what I found one fine day couple of months back. I found a pouch from this Bank on my table and when I opened it, was pleasantly surprised to see a Digital key. I thought for a moment whether it was some kind of a gift from HSBC but realized that it was a security key for Internet Transactions.
What was a pleasant surprise to me was a rude shock to HSBC. One of the HSBC workers hacked them to the tune of 2, 33, 000 £ from the 20 UK Customers whose money was transacted by Nadeem Kashmiri. HSBC being one of the leading card companies with over 100 million cards was as prone to hacking as any other Bank and whooping 2 Billion $ are lost in Card Fraud every year. Harsh’s rev keeps reminding everyone as to the safety of transacting on the net and having transacted 100s of times with my HSBC Card, I feel I am lucky and the security key will go in a big way in protecting Internet Banking because every time, you log on, you are asked the key number which is different every time you press the key.
What I would like to see HSBC doing better
More drop centres, ATMs, AUTO DEBIT facility other than metros (not available in Hyderabad), lesser annual fees, Air ticket EMI facility.
Caution : HSBC Gold Cards are issued with lot of prudence and never opt for it unless you can afford premium Cards.You can opt for Classic Cards.
For people who think card is the smartest thing, one can possess, here is the story of Madhavan and Kamal in lessons of life Movie Anbe Sivam. Madhavan opens his wallet in a Hotel in Orrisa and tells the waiter, ” Diners, Amex, Visa, Master which one you want." The waiter replies back, ” Here Card ward kuch nahin chalta, paisa do nahin tho roti pisso." If People who want to carry more number of cards than 100 rupee notes in their purse, they have to head straight to Kitchen because there are still many places in the world which do not accept cards.
For People who think Credit cards are most valuable thing in life, there are definitely more valuable cards like Report Cards from School, Wedding Card, Greeting Cards from dear ones, visiting card and your photo id card which get you addressed and memory card in your Brain, but when you need to pay a Hospital bill in emergency situation, your credit card becomes most valuable.
I find many MSians blaming card companies left and right but fail to understand the need to repay in time and it just helps if the minimum amount balance is paid off. Following golden rules is the key to successful card maintenance.
So think before you swipe a card because it will also wipe your bank account.
And go for a Card which is Honest like HSBC.
Thanks for reading.Friends, do let me know in comments which card you prefer most and why?