Customer information and FAQs

Learn what the repositioning of the HSBC Bank USA, N.A. (“HSBC”) Wealth and Personal Banking means for our customers, here and abroad.

HSBC has sold a portfolio of credit card accounts. Later this year, ownership of accounts will transfer to First Bank & Trust, and Premier Finance Card Program™ (PF|CP) will provide the servicing.

In a few weeks, PF|CP will be mailing replacement credit cards with a new account number to accounts open and in good standing included in the sale. When the transfer completes later this year, PF|CP will provide a new online experience to manage payments, alert settings, statement preferences, and more.

For now, HSBC continues to service the transferring accounts.

Transferring accounts include those held by customers who had a stand-alone credit card with HSBC and no other financial relationship such as a checking or savings account. Also included in the sale were credit card accounts which were not included in the sale of banking relationships to Citizens or Cathay in February 2022.

Customers whose accounts will transfer recently received a letter from PF|CP informing them that ownership was to transfer to First Bank & Trust as of August 20, 2022 (the July Letter). Since the July Letter was sent, it has become necessary to change the date of such transfer to later this year. The information contained in the July Letter has been updated in this FAQ, so customers should disregard the July Letter. PFCP will provide another letter with details on the date and timing of transfer.

Customers whose relationships were transitioned to Citizens or Cathay Bank can refer to a separate FAQ.

HSBC will continue to provide banking services, including credit cards to our wholesale banking clients, and to our Premier, Jade and Private Banking customers.

  • In February 2020, we set out a plan to shift our business strategy in the United States to maximize the connection between our clients and our world-class international network.
  • Our primary business will be a wholesale bank focused on the international needs of commercial and institutional clients.
  • We are repositioning our US retail business by renewing our emphasis on the international wealth management needs of globally mobile and affluent individuals in the United States. HSBC is uniquely positioned to capture more of this US$5 trillion market.
  • As a result of this new focus for HSBC in the U.S., we are streamlining parts of our retail bank and credit card operations.
  • We continue to provide banking services including credit cards to wholesale banking (commercial and institutional) clients, and as part of the Premier, Jade and Private Banking propositions.

The following HSBC credit card products are being transferred:

  • HSBC Platinum Credit Card
  • HSBC Gold Credit Card
  • HSBC Advance Credit Card
  • HSBC Cash Rewards Credit Card
  • HSBC Cash Rewards Student Credit Card
  • When you log in to HSBC Personal Internet Banking , if your account is being transferred, you’ll see a message at the top of the account page indicating that later this year one or more of your HSBC credit card accounts will be transitioned to Premier Finance Card Program (PF|CP), issued by First Bank & Trust. Also, HSBC and PF|CP have mailed letters since early June to the address on record for accounts included in the agreement.

Customers whose accounts will transfer recently received a letter from PF|CP informing them that ownership was to transfer to First Bank & Trust as of August 20, 2022 (the July Letter). Since the July Letter was sent, it has become necessary for us to change the date of such transfer to later this year. The information contained in the July Letter has been updated in this FAQ, so please disregard the July Letter. PFCP will provide another letter with details on the date and timing of transfer.

  • Certain closed and suspended accounts will transfer to PF|CP later this year. PF|CP has mailed letters to these accounts, notifying of the change.
  • If your account has been closed and you have an outstanding balance, your obligation to pay the balance remains unchanged. You will continue to receive monthly billing statements from PF|CP until your balance is paid in full.

Using and managing transferring credit cards

  • Later this year, ownership of accounts included in the agreement will transfer to First Bank & Trust, and servicing will transfer to PF|CP.
  • For now, HSBC continues to service the transferring accounts.
  • If your account is open and in good standing when identified for reissue , PF|CP will mail you a new credit card with a new account number, which you should receive by early September.
  • If your account is open and in good standing, when identified for reissue, a replacement card will be issued to all applicants and any authorized user(s) on the account.
  • If your account is open and in good standing, when identified for reissue , PF|CP will mail you a new credit card with information about when you may activate and start using your replacement card.
  • Yes, you will be assigned a new account number.
  • If your account is open and in good standing when identified for reissue, PF|CP will mail you a new account number with your new credit card, which you should receive by early September.
  • For any recurring charges such as subscriptions, gym memberships, utilities, etc., please contact those merchants after your account transitions later this year and provide your new PF|CP account information.
  • Transfer of accounts will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • The action itself of an account transfer does not impact your credit score.
  • Your PIN will change, and you must request a new one from PF|CP.
  • Just before transition, HSBC will deactivate your Personal Identification Number (PIN) for use at ATMs.
  • If your account is open and in good standing, after transition, in order to obtain a new PIN, you must enroll in online or mobile banking, or by calling PF|CP Customer Service.
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • Just before transition, your access to HSBC online and mobile banking will end.
  • After transition, , you can enroll in PF|CP online and mobile banking at pfcardprogram.com.
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • If you are enrolled in a mobile wallet, just before transition, you will no longer be able to access your HSBC credit card in that manner.
  • After transition, please update your mobile wallet with your new PF|CP account information.
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • Yes, your PF|CP credit card will still allow you to tap and go at participating merchants.
  • No, your PF|CP account will not charge this fee.
  • Your APR will remain the same unless you were being charged a penalty APR, in which case such APR will be reduced to your applicable non-penalty APR.
  • The account will no longer have a Penalty APR.
  • Late fee and return check fee amounts will remain the same.
  • Yes, if you have an existing introductory rate offer still available to you and in effect under the terms of your HSBC account at the time of the transfer, it will remain in effect for the balance of the original term of the original offer.
  • There are no new promotional rate offers, or any extensions of time for any existing introductory or promotional rate offers, being made at this time.
  • Yes, you will maintain that rate as long as you meet the eligibility requirements.
  • Yes, the terms of the hardship program will be maintained as long as you continue to meet the eligibility requirements.
  • PF|CP will have your last 13 months of HSBC statements, which you can access when you enroll in PF|CP online banking at pfcardprogram.com.
  • If you think you may need any HSBC statement history prior to 13 months, please download these statements prior to account transfer by going to HSBC Personal Internet Banking.
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • If you are enrolled in paperless statements with HSBC, you will need to re-enroll for this service with PF|CP.
  • After transition, you can re-enroll at pfcardprogram.com.
  • If you do not re-enroll, you will receive paper statements in the mail.

Payments

  • Just before account transfer, HSBC will:
    • No longer accept payments for your account in any HSBC branch, by telephone or through online and mobile banking
    • Cancel any scheduled electronic payments excluding those made through AutoPay
  • After account transfer, you can make payments by:
    • Enrolling in PF|CP online or mobile banking
    • Calling PF|CP Customer Service
    • Mailing payments to PF|CP, PO Box 650726, Dallas, TX 75265-0726
  • Your enrollment will automatically transfer to PF|CP, and your payments will continue as scheduled.
  • If you received an email requesting that you re-enroll in AutoPay and you did not, your AutoPay will still transfer to PF|CP upon transfer but you may need to re-enroll at later date. More information is available at pfcardprogram.com.
  • If you would like to enroll in AutoPay with PF|CP, you can do so after your account transfers later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • Please contact that financial services provider and provide your new PF|CP account information.
  • Your due date may change slightly but will still be at least 25 days after the close of each billing cycle.
  • If you are enrolled in AutoPay, PF|CP will automatically update the new payment due date.

Rewards

  • If you are enrolled in a program that offers rewards and your account is open and in good standing:
    • Your earn rate will remain the same or will improve, depending upon the program in which you are enrolled.
    • You will continue to earn rewards during the transition of your account.
    • Please refer to your Rewards Program Rules that will be included with your PF|CP credit card, which you should receive by early September.
  • Redemption options if your account is open and in good standing will be modified as follows:
    • Direct Deposit into an HSBC checking/savings account will no longer be available.
    • Pay with Points for annual fees will no longer be available, as your account will not have an annual fee.
    • Amazon Shop with Points will no longer be available.
  • If you are enrolled in a program that offers rewards, and your account is open and in good standing:
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.
  • Yes, upon account transfers, your accumulated rewards balance will be transferred to PF|CP.
  • Your transferred rewards balances will be available online, through PF|CP Customer Service, and on your statements.
  • Account transfer will occur later this year.
  • This FAQ page will be updated when transition dates are confirmed.

Other information

  • PF|CP describes itself and the Program as follows:
  • The Premier Finance Card Program (PF|CP) is a credit card program provider sponsored by First Bank & Trust, which is one of the leading consumer credit card issuers.
  • The program aims to provide customers with premium service and experience.
  • After the transfer, PF|CP will service your account and provide a new online experience for you to manage payments, alert settings, statement preferences, and more.
  • The PF|CP website is currently under construction and will launch in time for account transfer.
  • You can visit the PF|CP Coming Soon page now by going to pfcardprogram.com.
  • First Bank & Trust is a family- and employee-owned South Dakota state bank, member FDIC, with 22 locations in 17 communities in South Dakota and Minnesota. Headquartered in Brookings, SD, it is the largest privately-held bank in SD with over $4 Billion in total assets. First Bank & Trust has a history that dates back more than 140 years and spans four generations of the Fishback family, who support independent and entrepreneurial leadership. First Bank & Trust's experience in partnering with Fintech companies nationwide centers around the shared goal of developing market-leading solutions that deliver consumer-friendly, sustainable, innovative, and compliant financial services products on a national scale.
  • For more information, visit the First Bank and Trust website.
  • HSBC and PF|CP are working together closely to make this transition as easy as possible.
  • Until account transfer later this year, please contact HSBC. You can chat with us 24 hours a day, 7 days a week on the HSBC Mobile Banking App1 or at us.hsbc.com/chatwithus. If you prefer, give us a call at 800.975.4722 Monday through Sunday 7:00 AM – 9:00 PM ET. Outside the US or Canada, please call 1.716.841.7212.
  • After account transfer, please visit pfcardprogram.com or call PF|CP Customer Service at 1.833.456.8700, 24 hours/7 days a week. Outside the US or Canada, you can call 1.516.576.8625.


CUSTOMERS WHO ARE IN BANKRUPTCY OR WHOSE CREDIT CARD OBLIGATION HAS BEEN DISCHARGED. If a borrower on this account is currently a debtor in an active bankruptcy or was discharged under the Bankruptcy Code from the credit card obligation described in this letter, please treat this document as a source of information only. Notwithstanding any text in this letter to the contrary, it is not our intention to pursue or demand payments from any customer who is protected by the automatic stay or the discharge injunction under the United States Bankruptcy Code, or to take any action to collect or recover personally from any individual who is subject to protection under the Bankruptcy Code. If you believe you are subject to protection under the Bankruptcy Code, please contact our Customer Service Department at your earliest convenience so that we can update the records applicable to this account, if appropriate.

1Data rate charges from your service provider may apply. Neither HSBC Bank USA, N.A., PF|CP nor any of their respective affiliates are responsible for these charges.
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