Credit Cards - HSBC launches no fee Credit Card

The Australian credit card market is showing strong signs of improvement, after more competition has pushed some of the main providers to up the stakes in order to attract more custom.

HSBC today launched a new credit card that will increase the banks share in the unsecured leading space and push it ahead of the four big lenders that have been dominating the credit card market.

There are several features that make the HSBC Credit Card special, the most attractive being the 0% balance transfers for 6 months, with no annual fee for life. On top of this you can earn $50 cashback when you spend $500 or more for each of the first 3 months, plus the standard 55 interest free days on purchases and benefit from the Privilege Program offering instant discounts on shopping, travel, accomodation and more.

The aggressive move by HSBC is likely to set a new level that other lenders will follow, heating up the Australian credit card market and improving the deals available to the consumer.