New Card FAQs

About HSBC

• Who issues the Household Bank® Credit Card?

  The Household Bank Credit Card is issued by HSBC Bank Nevada, N.A. and is serviced by HSBC Card Services, Inc.

• Who is HSBC?

  HSBC is one of the world's largest financial institutions and largest credit card issuers with over 50 million customers nationwide.

Application

• How Do I Apply?

  Click here to apply online. It's easy, and takes just a few minutes.

• How Do I Know Which Credit Card Is Right For Me?

  We'll recommend a specific Credit Card that best fits your needs and credit profile based on the information you provide us from the inquiry form and your credit history.

• I already have a MasterCard. Can I apply for a VISA card instead?

  Yes.

• Is there an Annual Fee?

  Depending upon your credit profile, your card could have an annual fee associated with it.

• Why Should I Apply for a Household Bank Credit Card?

  Over 2 million people have established or re-establish their credit with us. We have online account management tools that put you in control of your account, plus 100% Fraud Liability Protection and reporting to the three major credit bureaus.

Approval

• Can I have more than one credit card account?

  Currently, you may only have one type of HSBC Credit Card account.

• Am I guaranteed to receive a credit card?

  No. By applying for a Credit Card you authorize HSBC to obtain a current credit bureau report about you and to verify the information provided on your application. Approval is pending review of this and other information.

• When will I receive my Credit Card?

  If you are approved, you should receive your new credit card and the terms associated with your account within 10-14 business days.

Qualifying

• What are the qualifications for getting a credit card?

  In order to apply for a credit card, you must be at least the legal age in the state of your residence, your annual salary must be at least $12,000 (for an unsecured card), you must have a telephone in your residence and you must reside in the United States and have a valid social security number. Credit approval will be determined upon review of a current credit bureau report and other information bearing on your creditworthiness; this includes an evaluation of your ability to pay based on factors such as your income and/or assets and your debts and obligations.

Rate Information

• What is the Prime Rate?

  The Prime Rate is the Index used to calculate the interest rates on variable rate accounts. For each billing cycle, variable APRs are calculated by adding a specified amount ("Spread") to the U.S. prime rate published in the Money Rates table of The Wall Street Journal that is in effect on the last day of the month ("Prime Rate"). If the Prime Rate changes, the new APRs will take effect on the first day of your billing cycle beginning in the next month.

• What is a Variable Rate?

  A variable rate is a rate that can change with the market based on an Index (such as the Prime Rate).

• Can the Prime Rate go up or down?

  Yes, the Prime Rate can go up or down

• If the Prime Rate goes up or down, when does it affect my statement?

  If the Prime Rate changes, the new APRs will take effect on the first day of your billing cycle beginning in the next month.

• What is a Penalty APR?

  A Penalty APR may be applied to your Account if you make a late payment.

Card Security

• Card Security

Secured Card

• What is a Secured Card?

  Secured Cards are credit cards that require a savings account to be established as collateral for the credit card. They are an excellent way to establish a positive credit history and are designed especially for people with no credit history, or who have experienced past credit problems. Household Bank secured Credit Cards look and work just like any other credit card. Only you and HSBC will know that the card is secured.

• How do I get a Secured Card?

  You may either directly apply for a Secured Card or we may recommend one for you if you do not qualify for an Unsecured Card.

• How can I qualify for a Secured Card?

  Even if you have no credit history, or your credit history is less than perfect, you have an excellent opportunity to be approved for a Household Bank secured card. These are our general guidelines:

  • Legal age in the state of your residence,
  • A telephone in your home,
  • Reside in the United States

• What will my Credit Limit be for a Secured Card?

  With a Household Bank secured card, you set your own credit limit! The minimum deposit required is $200, with a maximum deposit of $15,000, and your credit limit will be equal to 100% of your deposit.

• Can I add to my Savings Account to increase my Credit Limit?

  Yes. At any time after your account is opened, you may send in deposits of $100 or more in increments of $100 to add to your secured savings account. Each addition to your savings account will increase your credit limit dollar for dollar.

• Can I withdraw money from my Savings Account?

  The savings account acts as collateral for your Secured Card, so you may not withdraw money from the account while your credit card is secured