Getting information from the HSBC website about the HSBC Classic credit card is like trying to get blood out of a stone. You’re forced to look at all sorts of web pages and open a whole lot of new windows just to get the basics. So to save you time and energy we’ve done it for you.

For starters, there is a annual fee which is waived in the first year. Your annual fee will get you ridiculously high interest rates for purchases and for cash advances. The interest free period sits at 55 days, however, the balance transfer rate is particularly average, which reverts to the cash advance rate after the six month introductory period is over.

Like the Bendigo Red credit card, this credit card from HSBC is quite obviously all about the rewards program which would be great, if the asking price wasn’t so high. But back to the rewards program – you’ll earn one point for every dollar you spend with your HSBC Classic credit card, with bonus partners of the rewards program offering double and sometimes even triple points on credit card purchases.

The number of points available to be earned on this credit card in one year is 100,000, with unused points expiring after three years. The redemption rate on the HSBC Classic credit card is reasonable when it comes to points redemption, with between 15,000 and 17,000 points required for a $100 gift voucher (dependent on which store it’s from). You can also redeem your points for a whole truck load of other rewards, like fun park tickets, electronics, dinners, movie passes, clothing, insurance rebates and even donations to charities.

With no other benefits to speak of, the rewards program is all there is to the HSBC Classic credit card. We can’t deny the fact that yes, we like rewards, but we also like having money in our bank accounts so while all this rewards hoo-ha is great, it doesn’t really excuse the fact that the card itself is still horrifically overpriced. Without a doubt, this card would be a bad choice for pretty much anyone in the market for a credit card as there are so many better alternatives out there.

See our top credit card picks in the Editors Choice category