These interest rates are in effect on the day your HSBC Mastercard account (“Account”) is first issued.

Late or Missed Payments

If you do not pay the Minimum Payment in full by the due date on your Account statement two billing periods in a row (the “first” and “second” billing periods), your interest rates in effect at the end of the third billing period will increase by 5% per year. The increased rates will apply on the first day of the fourth billing period and will continue to apply until you qualify for a rate decrease.

If you pay the Minimum Payment in full by the due date on your account statement six months in a row (the “first” through “sixth” billing periods), your previously increased rates in effect at the end of the seventh billing period will decrease by 5% per year. The decreased rates will apply on the first day of the eighth billing period.

Example: Your billing periods end on the last calendar day of each month and your Minimum Payments become due on the 22nd calendar day of each month. If you miss or are late to make Minimum Payments that become due in December and January, your rates in effect on the last day of February will go up by 5% per year starting on the first day of March. An annual interest rate of 19.9% will increase to 24.9%.

If you pay each Minimum Payment that becomes due in March through August in full and on time, your previously increased rates in effect on the last day of September will decrease by 5% per year starting on the first day of October. An annual interest rate of 24.9% will decrease to 19.9%.

21 days

You will benefit from an interest-free grace period on new Purchases and fees of at least 21 days if you pay off your balance in full by the due date.

There is no interest-free period on Cash Advances including Quasi-cash transactions, Balance Transfers and Cheques.

Interest begins to accrue on Purchases, Cash Advances including Quasi-cash transactions, and fees from the date of the transaction and on Balance Transfers and Cheques from the date posted.

Your minimum payment is the greater of $10 and 5% (if you reside in Quebec) or 3% (if you reside outside Quebec) of the total outstanding amount (rounded to the next dollar), plus all past due amounts and amounts over your credit limit. If the total outstanding amount is less than $10, then the Minimum Payment is equal to the total outstanding amount.

0%

We will bill you in Canadian currency if you use your Account to make transactions in foreign currency. If you make (or return) transactions in a foreign currency, we convert the amount to Canadian dollars at the benchmark foreign currency exchange rate determined by Mastercard that is in effect and that we must pay on the date we post the transaction to the Account. This rate may be different from the rate in effect on the date you made the transaction.

Primary card fee: $149

Supplementary card fee: $50 for each Authorized User on your Account. You may have up to four Authorized Users on your Account.

The annual fees will be charged on the first statement date after the card is issued (regardless of activation) and annually on the anniversary of your account.

If you add an Authorized User after your card is first issued, a pro-rated supplementary card fee will be charged on the first statement date after the supplementary card is issued (regardless of activation). The amount of the fee will be pro-rated for the number of months remaining between the day the fee is charged and the next anniversary of your account. After that, as long as the card remains issued, a $50 supplementary card fee will be charged for that card annually on the anniversary of your account.

To be charged on the date of the transaction:

• Cash Advance fees (does not apply in Quebec):
  • Automated Teller Machine (ATM) displaying the Mastercard or Cirrus® symbol – ATM in Canada – $2; ATM outside Canada – $4
  • Over-the-Counter (in Branch) at a Mastercard Financial Institution – In Canada – $3; Outside Canada – $5
• Wire transfers, travelers cheques, foreign currency, money orders, payment of an existing debt, bets, lottery tickets and casino gaming chips (referred to as “Quasi-cash transactions”; fee does not apply in Quebec): $4

To be charged on the date the transaction is posted:

• Charge for dishonoured payment or dishonoured Cheque (does not apply in Quebec): $25
• Cheque fee – for Cheques written to a merchant outside Canada (does not apply in Quebec): $5
• Extra copy of your monthly statement or sales slip: $0
• Promotional Offer Balance Transfer fee (does not apply in Quebec): Up to 5% of the Balance Transfer amount. We charge this fee when we offer a promotional interest rate on Balance Transfers for a specified period which is lower than the annual interest rate that applies to Balance Transfers to your Account. We may waive or lower this 5% fee at the time the promotional interest rate offer is made to you. We do not charge Balance Transfer fees outside of promotional offers.
• Rush card or PIN replacement fee: for courier delivery within Canada: $25

To be charged on the statement date:

• Over the credit limit fee – if your balance exceeds your assigned credit limit during the statement period (the fee does not apply in Quebec): $29