What is the finance charge on HSBC credit cards?
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The finance charge on HSBC credit cards is the interest you pay when you carry a balance on your card from one month to the next. If you don’t pay your full balance by the due date, HSBC charges interest on the remaining amount. The finance charge is usually a percentage of your balance, and it can vary depending on your card and interest rate. If you make the minimum payment or less, the finance charge may be higher. It’s important to pay off your balance in full each month to avoid these charges.
The finance charge on HSBC credit cards depends on the card type and your balance. Typically, it is a daily interest rate applied to any outstanding balance after the due date. If you carry a balance, interest is charged on that amount, usually calculated based on the average daily balance. The rate can vary, so it’s a good idea to check your card’s terms for the exact percentage.