You continue to enjoy a reduced interest rate of 3.25% p.m. (39% p.a.) on extended credit on your HSBC Credit Card ending XXXX.
I’ve had this card since 5+ years and have never made a late payment. If my interest rate for being loyal and punctual is 39% p.a., you can imagine what the interest rate would be for someone who has made late payments.
To give credit, HSBC’s tried quite a number of tricks over the years to get me to convert my credit card balance into one of their lame EMI schemes. They don’t realize that I’m not their target market. If I was, we’d see this headline: “Personal Finance blogger converts credit card balance into EMIs.”
And then you’d stop reading this blog.
even I hold a HSBC card. They told me its a free card when it was sold to me. last year, they suddenly charged annual fee. They waived it off after I asked them to cancel the card if it has any annual fee. They keep calling me asking me for EMI options, increase credit limit etc. I had deliberately reduced credit limit when I got this card couple of years ago. Somehow I feel credit card is very useful for me to keep track of expenses, payment of bills etc. Looking for some good truly ‘lifetime free card’ with reasonably low credit limit, so that I can cancel this one.