HSBC Visa Credit Card

I have been using the HSBC gold card since the last three years. Its my first credit card and so far the experience has been really good.

Here are my major experiences with this card:

1. All my major purchases till date has been on this card. I bought a motorcycle with this one.

I bought it on the first day after my last bill was generated, so that gave me exactly 45 days to pay it off. And as I had planned, I recieved two months salary in that period so I paid it in full and got a interest free loan for 45 days in the process!

1. I bought most of my furniture on this card, again on the first day of the 45 days period. Again saving a a whole lot of money in interest.

   
   




2. These days my life is more planned, so I put all my estimated monthly expenditure in a fixed deposit for 30-45 days, and use my credit card for all purchases. I know the interest rate is low, but any interest that I earn is "free" money, since the credit card is interest free for the 45 days after the monthly bill generation date.

   
   




3. They have a fair communication policy and sms bill amounts on the bill generation date itself. And they are honest folks. Once I paid 10, 000 at the bank counter envelope and put the amount as Rs 5, 000 on the envelope cover. They called me later in the day and told me that I had made a payment of 10, 000 and not 5, 000 and told me they were correcting the mistake! If it were not for them, then I would have never found out about the missing 5, 000.(Umm.I am not that rich, but it happens sometimes, work load and all).

   
   




4. They also accept cash payments as well at the bank in MG road Bangalore. That is really useful if you ever forget to make a cheque payment. I have used the facility more then once to avoid late fees.

   
   




5. I live in bangalore so I use it for almost all my shopping. That means I get reward points as well for using the credit. I mean how good can it get? Get money for spending your money(from the fixed deposit) plus more reward points?

   
   




6. I have used the card for some emergency expenses and have paid interest on it. The interest rate is high but thats what it says on the contract, so I knew how much extra payment I had to make, again my choice to use it. They did not force me to overspend.

   
   




7. They have an online portal where you can track payments and expenditure as well as communicate with the bank via email. Its useful if you want to raise your limit, change your address etc.

   
   

They provide reward points for every Rs 100 spent that can be used in many ways.

I use mine to get travel bags and shopping discounts.