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Do you have a credit card? You probably do. I do have some credit cards but I only use 2 of them. I do keep the others for back-up purposes or just because the credit card companies just sent it to me without me needing to apply with the hopes that I will use them and they make money from me. But right now, I will only do a credit card comparison of the 2 cards I use, HSBC credit card and Citibank credit card. This is to help those people asking me how to choose the right credit card for them.

Let us start with my HSBC card. I have used it since 2006 and I am still benefiting from it. Compared to my Citibank card, its credit limit is higher. It is also enrolled in the Miles program. That means for every 50 pesos(I think) you spend you get one mile point. I have accumulated some mile points but still not enough to go anywhere outside the country. They also have an online banking facility which is a must in today’s world. I believe it us much more secure than other banks’ online facility because they give you a security token which will provide you with additional security codes other than your selected password to go into your online banking page.

I am happy with this card because of its high credit limit and online banking security feature. However, that is it. Though the rewards program is good, I don’t think it is meant for those who don’t spend much via credit cards (like me). So I guess the one at fault would be me, I shouldn’t have chosen this particular rewards program.

Then there’s my Citibank credit card. Like my HSBC card, I have been using it since 2006 and has been servicing me good until today. Like I said, it has a lower credit limit compared to HSBC. I think this is because they are more conservative with their customers. They try to adapt the credit limit with the card member’s salary which I think is good. The Citibank card is enrolled in a Cashback program. That means for every X pesos spent, Y pesos will be returned to me as credit! In other words, I sort of get a discount from my expenditure. They also have an online banking facility which is good.

Personally, I like the Citibank Cashback credit card more. It makes more sense financially because you get ‘automatic’ discounts from your balance. This is why I pay my bills with this card. Though it has a lower credit limit, I am able to use the program fully unlike the Miles program of HSBC.

Now, I am not saying that Citibank is definitely better than HSBC. What I am saying is that the best credit card for us is the one that will serve us the best. If you are a businessman and travel a lot, I would say that getting the HSBC credit card with the Miles program is the better choice that the the Citibank credit card.

So the point is, when planning to get a credit card, consider your situation first, assess your needs, check if your needs will be satisfied by the prospective credit card and if the answer is yes, then that credit card is the right one for you.

Make sure to check out the site for more related information about Credit Card Comparison - HSBC vs Citibank .

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