Starting 01 October 2025, HSBC will raise the minimum annual income requirement for its credit cards to S$65,000 — more than double the current MAS minimum of S$30,000.
Who Will Be Affected?
This change affects all new applications for HSBC credit cards, including:
- HSBC Advance Card
- HSBC Live+ Card
- HSBC Premier Mastercard
- HSBC Revolution Card
- HSBC TravelOne Card
If you already hold any of these cards, you can continue using them. Your card will not be cancelled just because you do not meet the new income requirement.
Summary of Changes:
Before 01 Oct 2025 | From 01 Oct 2025 | ||
<S$50,000 TRB | >S$50,000 TRB | ||
Salaried Employees (Locals/PRs) | S$30,000 | S$65,000 | S$30,000 |
Self-Employees/Commission-Based (Locals/PRs) | S$40,000 | S$65,000 | S$40,000 |
Foreigners | S$60,000 | S$65,000 | S$65,000 |
If you’re a Singaporean/PR with at least S$50,000 Total Relationship Balance (TRB), you can still qualify under the current S$30,000 minimum income requirement. But if your TRB is below S$50,000 (or you don’t have one), the new S$65,000 income requirement will apply.
Ways to Qualify Without Earning S$65,000
HSBC still offers two ways to bypass the higher income requirement — but both now require a Total Relationship Balance (TRB) of at least S$50,000 from 1 October 2025.
1. Maintain a Total Relationship Balance (TRB) ≥ S$50,000
- Keeping at least S$50,000 with HSBC (deposits, investments, and insurance combined) allows you to qualify under the current income criteria.
- Total Relationship Balance is calculated based on your average monthly balance over the last 3 months and includes:
- Deposit accounts and time deposits
- Unit trusts, bonds, structured products
- Insurance surrender values
- Total Relationship Balance is calculated based on your average monthly balance over the last 3 months and includes:
2. Apply for a Secured Credit Card
- Secured credit cards remain available after 01 October 2025 — but you must have a TRB ≥ S$50,000, which includes a minimum fixed deposit of S$10,000 pledged as collateral for the card.
Apply Before 01 October 2025
If you prefer to avoid the higher income requirement, apply before 30 September 2025, when the current criteria still apply — no TRB or fixed deposit needed:
- Salaried Employees (Locals/PRs): S$30,000
- Self-Employees/Commission-Based (Locals/PRs): S$40,000
- Foreigners: S$60,000
So, if you were thinking of applying, it’s smarter to do it now before the stricter rules kick in.
Conclusion:
HSBC’s upcoming change makes it much harder for many people to get their first credit card, especially if they don’t already bank with HSBC. If you don’t meet the new S$65,000 income requirement, your options are to keep at least S$50,000 with HSBC or apply before 01 October 2025 — otherwise, the lower income requirement will sadly be out of reach.
