HSBC bank in the United Kingdom has been one of the world's most prominent banking houses for over half a century. The institution offers a great variety of products to its customers, including cash advances and balance transfers. In addition, the bank offers a variety of options for their customers interested in purchasing property. With the recent shake up in banking regulations in the UK, the interest rates offered by HSBC are now slightly different compared to other providers.
HSBC offers two types of balance transfers: Regular Balance Transfer and Special Offers Balance Transfer. The regular balance transfers are great if you are looking to make small purchases regularly. These purchases will be charged at a low Purchase Rate and the interest rate will be fixed at a low Annual Percentage Yield (APY).
For those who need a little bit more flexibility in using your HSBC bank account, the special offers balance transfer offer is the best credit card offers available today. It offers a number of features such as reward points, gift vouchers, air miles, and much more. This particular product also provides an excellent customer service. This is why many choose to use this card for their everyday purchases.
If you are a customer who has held an account with HSBC for quite some time, you can consider a second introductory balance transfer fee holiday. This is a great way to take advantage of the incredible low introductory rate. For many, this is the best option when trying to find interest free credit card offers. However, this option will be rendered useless if you do not carefully read the fine print associated with any offer.
For example, one of the main differences between this card and others is the interest free period. While others provide several months of zero or low interest, this offer provides an introductory period of six months. However, some people do not like the lack of a grace period associated with these offers. If you do not wish to be locked into a long interest free period, you may want to consider other options that provide longer term interest free terms.
Many of the major credit cards offer an introductory offer on balance transfers. However, many of these offers are tied up for a lengthy period of time. Some of the better offers often last a full year. You can take advantage of these offers by finding the best bank to do business with and taking advantage of the introductory period.
Generally, most consumers can benefit from using HSBC bank cards for balance transfers. The benefits to credit card offers include cash back bonuses, air miles rewards, cash back on all expenditures, and sometimes even cash to help pay bills. This is a great way to increase your cash on hand without having to spend it in cash. You can use the increased cash to make large purchases. However, you should watch out for the introductory and charged on these types of credit card offers.
As you search for the best credit card offers for balance transfers, you should keep in mind the interest free periods and the introductory rates associated with the cards. You should also watch out for the fees charged on the transactions. Most banks offer different payment options. You should check to see what additional fees are attached to your transactions. Then, you can compare the interest free period offered by each card and select the best one for your needs.
Another aspect to consider when you are comparing cards is the incentives offered. Some cards give points for balance transfers to their partner banks and some other cards give cash rebates. If you earn enough points, you may be able to get free trips, merchandise, and even cash. It helps if you transfer a large balance to an introductory offer card to get the best incentives.
As an alternative to balance transfers, you can also transfer existing customer balances to an HSBC credit card. Most customers will find this attractive since it does not involve any fees or charges. However, you should note that you will have to cancel your current HSBC credit cards before you can transfer the balances. This is because the new card will come at a higher interest rate. If you have a balance in your old HSBC credit card account that you want to transfer to the new card, you should ensure that you make regular payments so that your interest rate will be lowered.
It is not a bad idea to go for an HSBC balance transfer credit card if you are juggling your finances. However, you need to read the terms and conditions carefully and choose the one that offers the lowest interest rate, the lowest transfer fee, and a long enough term to allow you to pay off your debt. If you do so, you should be able to save significant amount of money during the lifetime of the loan.