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How to make your HSBC credit card payment

Credit cards offer convenient ways to pay for things, as well as many other benefits. But it's important to always remember to pay your credit card balance by its due date to avoid unnecessary fees. Fortunately, we offer easy ways to pay your HSBC credit card bills.

What is a credit card balance?

Your credit card balance is the amount you need to pay back at the end of your statement period. It includes everything you've spent on the card plus any interest and fees that might be applicable.

If you don't pay your balance in full by the time it is due, you will be charged interest on anything you owe. With many cards, you might lose some of the additional benefits that your card offers, until you've paid your balance in full.

In addition, if you miss your repayment or pay less than the minimum required payment, you will be charged a late payment fee. This fee usually has a minimum charge, but might rise to around 5% of your statement balance, depending on the bank.

Paying your credit card balance on time is a very important factor for banks or credit institutions to assess your credibility. If you can't pay off your credit card balance over and over again, your account will be flagged as "notable". This will lower your credit score, which makes it difficult for you to request an increase to your card limit or apply for low-interest loans.

Easy ways to pay off your HSBC credit card balance

When you are an HSBC credit cardholder, paying off your credit card balance becomes easier as we offer you many convenient ways to pay off your credit card balance:

Transfer from another bank account

If you have more than one bank account, you can use online banking to transfer funds to your credit card account. The account you pay from doesn't even have to be from the same bank as your credit card. In fact, someone else can make a payment to your card from their account. 

To make a transfer, you must enter:

  • Beneficiary's name: cardholder’s name
  • Beneficiary account: 16 digits printed on the credit card
  • Beneficiary bank name: HSBC Vietnam
  • Payment amount: the amount you want to pay for your credit card balance
  • Content: HSBC credit card payment

 

You should be aware that there could be a transfer fee if the account you're paying from isn't in the same banking network as your credit card account. If this is the case it is the sending bank that charges this fee, not the receiving one.

Auto debit service

Using auto debit to pay your credit card bill can save you a lot of time and helps minimize the risk of you forgetting to pay on the due date. It's simple: you specify an amount that your bank will automatically deduct from your main account each month to pay your credit balance.

To register for this service, you need to go to the nearest branch of your card issuer and ask about auto debit.

There are 2 types of auto debit: minimum payment and full payment. If you choose minimum payment, the system will automatically pay only the minimum required amount – even if you have enough money in your account to cover your entire credit card balance. This means you'll probably have to pay additional interest charges as well.

You should also remember that for auto debit to work, your account needs to have at least as much as your minimum required payment, or your entire credit card balance, depending on which auto debit you sign up for.

If you register for a full payment service but your bank account doesn’t have enough balance to execute the order, even if the balance is greater than the minimum required payment amount, the system will not be able to make the payment.

Use HSBC Online Banking or the HSBC Vietnam application

If you have an HSBC bank account, you can use HSBC Online Banking or HSBC Vietnam application to pay your credit card balance. This is convenient because you can pay your balance anytime, anywhere you have an internet connection.

Here's what you need to do:

  • Step 1: Go to the HSBC Online Banking via web browser (or HSBC Vietnam application)
  • Step 2: To log on to Online banking, you must input the security code from security device or digital secure key. To log on to HSBC Vietnam application, you just need the biometric or 6 digits of Mobile PIN
  • Step 3: Select “Pay and transfer” on Online Banking or “Make a transfer” on the HSBC Vietnam app
  • Step 4: Select the source account you want to transfer
  • Step 5: Choose the credit card and input the amount you want to pay

 

You can also set up your payment ahead of time, but you'll need to make sure you have enough money in your account to cover the payment on the date you set.

Haven’t registered for online banking yet? Register now!

Register for online banking

Payoo Service

Payoo is an e-wallet app that lets you make transactions on websites that support Payoo as a payment method. Payoo also lets you pay off your HSBC credit balance at affiliated stores or directly on the Payoo app

Make repayments at merchants partnered with Payoo

You can pay your credit card balance at over 4,000 Payoo affiliated merchants. Many of them provide flexible payment times such as on weekends or even 24/7 at some convenience stores.

To pay at a merchant you need to:

  • Step 1: Go to a store associated with Payoo and ask the cashier to help you pay the balance on your card
  • Step 2: Swipe your card to enter your credit card information
  • Step 3: Check the information such as the Payoo transaction code, customer code and the amount you need to pay
  • Step 4: Make the payment and receive your receipt

 

Make repayments on the Payoo app

  • Step 1: Log in to your Payoo account (if you don't have one, you can click the ‘Register’ button and follow the instructions)
  • Step 2: On the main screen, tap ‘Pay bills’
  • Step 3: Select 'credit card payment' from the list of services
  • Step 4: Choose your card provider (HSBC Vietnam)
  • Step 5: Enter the card number (16 numbers printed on the credit card)
  • Step 6: Check the customer information and the amount you need to pay
  • Step 7: Enter the amount and complete the payment process

 

Important details:

  • Credit card payments via Payoo should be performed two days before your payment due date
  • Time of transaction posting

 

- Working days: Transactions made before 5PM will be posted to your account in the same day. If you transfer after 5PM, it’ll go into your account in the next business day

- Weekend: Transactions made on the weekend will be recorded on the next working day

Transfer from an HSBC debit card at an ATM

Similar to ATM withdrawals, you can also pay your credit card balance with a debit card at any ATM (including ATMs outside of the HSBC network) that support wire transfers. You can make your credit card balance payment at whatever time works for you, even outside of working hours

The steps include:

  • Step 1: Insert your debit card and enter your PIN
  • Step 2: Select ‘Transfer’ on the screen showing orders
  • Step 3: Enter your credit card number (16 digits) and related information
  • Step 4: Enter the amount to transfer and press Enter
  • Step 5: The system reports success and completes the transaction

Pay cash directly at the bank counter

Of course, you can go directly to branch of your card issuing bank to pay your bill. The downside of this method is that you need to arrange your time to go to the bank branch during working hours.

Call our Contact Center

If you have an HSBC bank account but can’t use any of the other payment methods, our customer service can help you pay your balance. To do this, just call us and provide our staff with your personal information and your card information.

Personal Customers (8am-10pm):

Platinum credit cardholders (24/7): (84 28) 37 247 248

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What happens if don’t pay your credit card balance?

A number of things can happen if you're not able to pay your credit card balance. These will depend on how often this happens, how much you owe, and how late your payment is.

Suspended card

If you don’t pay at least the minimum payment as required by the bank, your information will be recorded as overdue in the card issuing bank's system.

If this happens more than once, your card issuer can temporarily or permanently lock your credit card to prevent new transactions. If this happens, you won't be able to use the card.

Bad credit history

When you borrow from banks or financial institutions, the National Credit Information Center (CIC) will keep records in the form of credit scores. Each bank has its own requirements for a customer's credit score. If your credit score is too low due to late loan repayment, there is a high chance that banks or financial institutions will not accept your applications for credit cards, unsecured loans and mortgage loans.

Financial pressure

As mentioned, there are penalties incurred and interest on late payments if you are unable to pay your credit card balance on time. According to HSBC's policies, the current credit card late payment fee is minimum VND 80,000 or 4% of the minimum amount to be paid for the statement period, whichever is more. It's important to note how much these fees and extra interest payments can add up to if you leave debts from time to time.

Legal action

If you leave debts unpaid, banks and financial institutions do have the legal right to come after you for repayment.

Tips for paying off your credit card balance

Check your credit card balance regularly

You can check your credit card balance by looking at the email statement, through online and mobile banking, or by contacting your card's customer service line.

Checking your balance regularly lets you keep track of your purchases, so you can avoid late payments and make timely adjustments to unreasonable expenses. It also helps you detect and react quickly to any suspicious transactions. 

Make your payment early

Your repayment will only be confirmed once the bank has received the money. Because some methods can take longer than others to register, it's a good idea to pay one to two days earlier than the due date, or use an automatic debit service so you don't have to worry about being late.

It's also a good idea to make your payment early if you're going to pay your credit card balance by depositing money at an ATM. That way, if there is an ATM failure and you can't use that method, you still have time to change to another payment method and avoid late payment of your bill.

Understand how your bill is paid

In accordance with the regulations, most banks will prioritize your payment in this order:

  • First: paying off any cash advances
  • Then paying your finance charges, fees, instalment payments (if any)
  • Finally, paying for your normal card transactions

 

For example, let's say you took a cash advance during your billing cycle and you decide to only pay a part of your credit balance on the due date. The bank will use this partial payment to pay for the cash advance first.

Don’t give your card to anyone else

The card number and CVV code printed on the back of the credit card are important information, mainly used for online transactions. For this reason, you shouldn’t let other people borrow your card, even your relatives. You certainly don’t want the risk of exposing your sensitive information as well as your card falling into the wrong hands.

Pay your credit balance on time

When you forget to pay off your balance on time, interest and fees will incur. These amounts aren’t much if you only forget to pay in a short time. But when you make it on the due date, you both enjoy an interest-free period for the next month and maintain a good credit score.

Pay off your credit card balance in full

When paying off a credit balance, you have the option to make anything from the minimum payment, to completely paying the balance. However, if you only pay the minimum amount you will be charged daily interest on your payments. This can add up fast, and make it more difficult to pay your balance in the future. That's why we recommend that you try to pay your entire balance whenever possible.

In addition to keeping a good credit score and avoiding interest charges and late fees, paying your balance in full means you'll be able to enjoy all the benefits that come with your card. Depending on the credit card you're using and the transactions you're making, this could mean you get interest-free periods of up to 45 days. Some cards even offer interest-free period up to 55 days, such as:

 

The long interest-free period gives you more flexibility to pay off your outstanding balance when you've made big purchases.

Note that you will only be confirmed to have paid the outstanding balance when the bank has received the money. 

Not yet an HSBC credit cardholder?

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Never miss a payment

You probably already knew a lot of the benefits you can get with a credit card. Now you know why it's so important to always pay your statement on time, and whenever possible, to pay the entire statement balance: missing a payment or carrying a balance can cause a lot of financial stress.

That's why we're here to help. We offer as many payment options as possible, so no matter what your preferrred method of banking is, you'll never have to miss a payment. 

We've got a lot of other great tips about how to use your credit card wisely. Find out more about credit cards articles to see which is the most suitable credit card for you.

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