HSBC's 0% HIP Offer with Switch and iStore

HSBC Credit Card Usage Programme
HSBC's 0% HIP Offer with Switch and iStore

  1. HSBC’s 0% HIP Offer with Switch and iStore ("Promo") is valid from July 8, 2011 to January 31, 2012.
  2. Under the Promo, Eligible Cardholders will be entitled to purchase from any Switch and iStore branches any of the featured items (the "Item") provided the Eligible Cardholder charges the purchase to their HSBC credit card, under HSBC Installment Plan ("HIP") at 0% interest over 3, 6, 12, 24, or 36 months.
  3. The Promo allows HSBC credit cardholders in good standing to enjoy discounts for every purchase they make from a line-up of featured items thru HSBC’s Installment Plan.
  4. HSBC’s Installment Plan Terms and Conditions apply to the extent not inconsistent herewith:
    1. HSBC’s Installment Plan ("HIP") is the installment facility of The Hongkong and Shanghai Banking Corporation Limited ("HSBC"), which allows an HSBC credit cardholder ("Cardholder") to purchase selected goods and services from accredited HIP merchants in the Philippines using their HSBC credit card ("the Card") and pay for the same, together with applicable interest and other fees, on installment basis. In certain instances or promotions, HSBC may, at its sole discretion, allow the Cardholder to convert into installment transaction purchases made using the Card at non-accredited HIP merchants.
    2. The Cardholder agrees that HSBC may at its option require a minimum purchase amount to qualify for HIP.
    3. The Cardholder agrees that the beneficial title to the goods purchased through HIP, including any and all replacements, accessions and accessories thereto, shall remain with HSBC until the total HIP installment price is paid in full. The Cardholder shall, in the meantime, possess and hold the same in trust for HSBC.
    4. The Cardholder agrees not to alter, return, pledge, mortgage, sell, assign, pawn, lease or part with the possession of the goods without the prior written consent of HSBC and until and unless the Cardholder shall have paid the total HIP installment price including all other charges that may arise out of the purchase.
    5. The Cardholder acknowledges that the total HIP installment price shall be deducted from the available credit limit on the HSBC credit card account at the time of approval, but shall be posted in fixed equal monthly installment amounts on each statement of account. The fixed monthly installment amount shall be posted as a regular transaction and shall form part of the Total Amount Due on each statement of account. The Cardholder shall have the option to pay the Minimum Amount Due, which is computed as 4% of the Total Amount Due, every month. If he does so, or if he revolves any portion of the Total Amount Due in any given month, the fixed monthly installment amount shall be included in the computation of the Finance Charge and Late Payment Charge (if applicable) for that month. The Cardholder shall be liable to pay these charges, plus any applicable taxes and charges required by the government thereon, over and above the applicable interest due on the installment transaction. The finance charges, at HSBC’s prevailing rate, will be levied using the average daily balance method upon the Cardholder’s opening balance and all new transactions posted, including any applicable fixed monthly installment amount and interest thereon, within the statement period accrued from the transactions' posting date until the end of the current statement period.
    6. The use of the Card in connection with HIP shall be subject to the Terms and Conditions governing HSBC’s Credit Card Products to the extent not inconsistent herewith.
    7. The Cardholder’s availment of HIP shall be considered his/her acceptance of and agreement to be bound by these terms and conditions and such amendments hereof as may be made by HSBC and advised from time
      to time.
    8. HIP cannot be availed of in conjunction with ongoing HIP Merchant, other HSBC credit card and/or
      government promotions.
    9. HIP is available in select branches and over select items of the HIP merchant. The HIP Merchants listed in this material are current as of print date. HSBC reserves the right to change the line-up of HIP Partner Merchants participating in the HIP program from time to time. The latest list of HIP merchants may be found at HSBC’s website The items included in the 0% Interest Installment Plan and/or in the Deferred Payment Plan, shall be identified in the price tag of the item.
    10. In case of pre-termination or cancellation of the HSBC Installment Plan transaction before the end of the chosen repayment period, HSBC reserves the right to charge to the cardholder’s account a processing fee of Five Hundred Pesos (P500).
  5. Cardholder’s installment purchase also entitles him to redeem Instant Rewards from SM Group, Caltex, Starbucks, Cathay Pacific, Cebu Pacific, and other shopping and pampering merchants. Terms and conditions of the card
    feature apply.
  6. All Items shall be covered by the standard manufacturer’s warranty. The warranty shall be valid one year from date receipt of Item for delivery. HSBC shall not be liable for any such defects or for the services of Switch or iStore.
  7. Eligible Cardholders must maintain their HSBC credit card in good standing throughout the Promo Period. The Item on 0% installment transaction will form part of the total outstanding balance due on Eligible Cardholder’s account statement. If, at any time during the Promo Period, an Eligible Cardholder’s HSBC credit card is cancelled either by the Eligible Cardholder himself or by HSBC, or if the Eligible Cardholder is delinquent in the payment of any amount due on said credit card, the entire outstanding balance, whether billed or unbilled, on the installment shall become immediately due and demandable.
  8. All matters and disputes relating to this Promo shall be subject to the final decision of HSBC and Switch / iStore with the approval of the DTI.

Per DTI-NCR Permit No 5021 Series of 2011.