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.
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:
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
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
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
The rewards for the current cycle
Previous reward balance
Rewards currently available for redemption
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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