HSBC Credit Card Statement

Credit card statements are a must-have tool in your depository if you wish to properly manage your credit card usage and maintain a good credit score in the UAE. Credit card statements not only assist in tracking the transaction made with your card but also prove helpful in identifying fraudulent transactions. 

HSBC credit card statements are essential to ensure the proper use, transparency, and safety of your credit card. We will discuss the key parts of your HSBC credit card statement to read as well as different sections present in the statement and how to get such statements using various online and offline methods. 

Sections of Understand HSBC Credit Card Statement

You will find your HSBC credit card statement divided into a few sub-parts or sections, with each of these sections aiming to provide a certain type of information about your HSBC credit card. Let’s cover all these sections of your HSBC credit card statement in brief: 

Account Information

You can find the account information at the top of your HSBC credit card statement. It mentions:

• Personal information about you (the cardholder) like your name, email address, phone number, and so on 
• Complete account number or the last four digits of the same
• Your permanent or residential address
• Billing cycle dates for your HSBC credit card in the UAE
• Statement issuance date

Account Summary

The account summary section of the HSBC credit card statement provides vital details related to the billing cycle and the previous cycle like:

• Due date of the billing cycle that just ended
• Due balance of the previous billing cycle, even when paid in full
• Total amount spent for payments and credit received (if any) - credits will include refunds you received
• Any further fees or charges - this includes any kind of fee applicable on your card like balance transfer fee, cash advance fee, late payment fee, and more
• Balance due, which reflects the total balance that you are required to pay at the end of the billing cycle

Purchases

You can find all details of every purchase made with your HSBC credit card in the UAE in this section of the HSBC credit card statement such as:

• Transaction Dates: These refer to the days when your card was utilised. Transaction dates may be a day or two post-dated since transactions may take a while to get processed from both the bank and the merchant.   
• Name of the vendor or merchant
• Category of the Vendor: Like groceries, travel, international spending, domestic spends, retail, and so forth
• Amount charged for each transaction 
• Easy monthly payment plans active on the card if any

Reward Information 

• The rewards for the current cycle
• Previous reward balance 
• Rewards currently available for redemption 
• Rewards redeemed

Payment and Credit Information

• Total balance due
• Available credit limit
• Minimum due balance
• Paid interest & fees 

Additional Charges – Interests and More

• Cash advance interest on your HSBC credit card in the UAE
• Balance transfers interest and/or fee
• APR on purchases

Fine Print of the Account 

• Contact information of the bank
• An explanation for interest rates and other key factors 

How to Check Your HSBC Credit Card Statement Online

Following are the ways you can check online HSBC credit card statement in the UAE:

Via Mobile Application

• Go to the Apple App Store or the Google Play Store and download the HSBC UAE app. 
• Log into the application using your customer ID and password. 
• Go to the main menu on the app, scroll down to the credit card, and open it. 
• Choose a card from the list if you have multiple cards with HSBC. 
• Tap on the card and move down to find the ‘credit card statement’ section.
• Tap on it and open your credit card statement for the month. 
• You will also have the option to read HSBC credit card statements for previous months here. 

Via Net Banking 

• Go to the official website of HSBC UAE and open the net banking portal. 
• Enter your customer ID and password to log into your HSBC net banking account. 
• Locate the credit card tab and head to it. 
• Choose the card you want a statement for from the available list. 
• Click on the ‘view statement’ tab on this page and download your credit card statement. 
• You can also check back-dated credit card statements here. 

Via Email Subscription 

You can directly connect with the customer care cell of HSBC bank and request assistance in getting an email subscription of your credit card statements. The executive with whom you connect will ask for a few details to confirm your account with the bank. Once you have obtained a subscription to the service, the statement will arrive in the inbox of your registered email address with the bank.

How to Check Your HSBC Credit Card Statement Offline

Following are the ways you can check Offline HSBC credit card statement in the UAE:

Via HSBC Branches

• Find a nearby HSBC branch, make a visit there, and connect with a credit card executive. 
• Ask the executive to help you obtain HSBC credit card statements for your card. 
• The executive will make arrangements to get you a subscription for monthly paper HSBC credit card statements. 
• The statements will be delivered to your home after subscription. 

Benefits of HSBC Credit Card Statement

By examining your HSBC credit card statement in detail, you can

• Develop an outline of the expenses 
• Find fraudulent transactions
• Avoid penalties and increased interest rates
• Track payments easily
• Maintain transparency of operations
• Stay informed about your dues
• Spot billing errors

Key Terms in HSBC Credit Card Statement

• Available Card Limit: The available card limit is the total limit available to be utilised. The available limit is calculated by subtracting your due balance from the total limit of the credit card. So if you have zero due balance, the complete credit card limit will be available for utilisation. 
• Transaction Dates: As one may identify from the title, these dates specify the days on which your credit card was used to make payments. However, the transaction date on your credit card statements may sometime vary from the actual date of the transaction by a day or two. This is due to the fact that payments may occasionally take a while to get processed from HSBC as well as the merchant, with the transaction date being the final date on which the payment transfer got completed. 
• Payment Due Date: This is the last date by which you can repay your current credit card bill. The payment due date specifies the end of the grace period (generally 15-20 days long) allowed for repayments. 
• Previous Statement/Due Balance: Some statements may mention the balance due from your previous cycle. This information is included for reference purposes even if you have paid the previous due balance in full already. 
• Statement Date: The statement date mentioned in your HSBC credit card statement is the date on which your statement was issued. It has no relation to the billing cycle end date or repayment date whatsoever. 
• Minimum Amount Due: The minimum amount due is the minimum sum you must repay out of the total due balance for the cycle. Failing to pay the minimum amount due results in a late fee along with APR on the due balance of the billing cycle. 
• Billing Cycle Dates: The billing cycle dates in your credit card statements denote the beginning and the end date of the billing cycle, with all the transactions made within the billing cycle included in the statement for that cycle. It should be kept in mind that the dates of your billing cycle do not necessarily coincide with the month's end and beginning dates. 

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